Not all assessments are correct

406 Field Point Rd

The town assessed this teardown on 0.76 acre in the R-20 zone at $1.329 million so you can excuse its broker for pricing it at $1.495 in 2006. But no one would pay that and it’s only now, four years later with its price dropped to $799,000, that it’s found a buyer. For even less, I assume.

UPDATE, 4:00PM: Closed at $670,000.

12 Comments

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12 responses to “Not all assessments are correct

  1. Greenwich Ex-Pat

    Maybe I’ve been gone way too long from the Northeast, but that’s a teardown because….?

    • christopherfountain

      It’s a tiny cape on an oversized lot and the listing says, sold as is” which is code for ” teardown”.

  2. Anthony Fountain

    That TV antenna’s gotta be worth something!

  3. Pete

    Assessor’s records show 406 Field Point Road sold in November 2006 for $1,450,000. Also shows assessment at $1,369,200. Do I have the right property?

  4. FF

    The place is a Smithsonian relic, and has a bad case of the molds. Still, at that price a deal

  5. Greenwich Ex-Pat

    “That TV antenna’s gotta be worth something!”

    Yeah, get a Dish, because, you know, they’re so much more attractive.

  6. GenX

    I saw this house with another broker who was useless.. but there are many problems with this house. The former long time owner for some reason didn’t want highway dept to build a sound barrier on property or pocketed money instead of agreeing to build it or property.. Its very very loud!! Both homes adjacent have sound barrier built. There could be legal issues over this if you want to build one. The house is a tear down with lots of mold/water damage and quite a few wasp and bees nests inside. That made out tour quite short. Real problem when we looked at it was there were liens on the home that weren’t disclosed to former listing broker. I believe they have a new broker and the liens and mortgage were worth more than 799,000. I would be really surprised if this house can close. I was told its owned by a contractor/builder who is in trouble. I think there might be a few more creditors popping up..

  7. Greenwich Ex-Pat

    Does anyone here on the blog know anything about mold mitigation? Because it seems to me that once mold gets entrenched, you might as well tear down, it’s all but impossible to get rid of.

  8. anonymous wxyz

    This was either a short sale or a foreclosure — not sure which. Why not ask John Conner, the listing agent?

  9. FitterHappier

    This house supposedly had a cash buyer who managed some sort of negotiation on the secret lien (lien held by a “friend” of the seller who didn’t record them in an effort to help the seller attract more buyers). The price lured me in for a look but the noise and house condition quickly scared me away.