Price cut

17 Tomac Avenue in Old Greenwich sold for $2.7 in 2006 and the buyers placed it back up for sale, unimproved, for $3.450 million two years later. 2008 was probably not the time to try to get such a premium for two year’s of occupancy and so it has sat since. Today it’s been marked down, again, to $3.075 but I believe we are below 2006 prices, not above them. Assessment is $2.3

8 Comments

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8 responses to “Price cut

  1. Greenwich Ex-Pat

    If you know, what was the peak year (and month) for bubble prices in Greenwich? Here in the South, it appears that fall of ’05 was peak. After that, a freeze, where people were still stubbornly trying to get bubble prices. You might say ’06 was sort of a frozen year. In ’07, reality started to set in.

    • christopherfountain

      I’m pretty sure 2007 was our peak – sure, housing was clogging up in other parts of the country but this was Greenwich! And, as noted here, reality still hasn’t set in.

  2. xyzzy

    When did Mark O’Brien sell his waterfront piece of property and give up on that spec house on Shore road?

    That should give you a good idea of when the peak was!

  3. foobar

    reality has definitely set in – that would be defined as the actual dealing price of real estate, having nothing to do with many of the absurd offering levels out there still.

  4. Anonymous

    Isn’t this the house that directly abuts the Tomac Cemetery?

  5. sailor

    You see dead people from this house.