Yesterday’s news

Hey, this is supposed to be a real estate blog so it seems only fair that I report on rel estate, even if nothing is going on.

46 quail Lane

This extremely dated house finally sold yesterday for $3.850 million. It last sold in 2005 for $4.875  and has been back up for sale since at least 2008, when it started at $$5.2 million. Assessment is just $3.065, so at least the owner cut a tax break.

161 Riverside Avenue has been on and off the market since at least 2005 when it asked $1.495, upped to $1.650 in 2007 and sold yesterday for $1.150. There’s been rental income coming in all during that period, so loose no sleep for the owners. Assessment is $971.000.

41 Owenoke

41 Owenoke, also in Riverside, sold very quickly – 39 days, at $1.675, just a touch lower than its price of $1.735. Assessment is $1.312. I thought it was priced fairly and obviously someone agreed.

26 Mohawk

26 Mohawk (off Stanwich, off Stag Lane) on the other hand, is going nowhere, yet. Its price has been cut again, this time to $6.450 from it’s original price of $7.870. It’s a huge house in the wrong section of town for prices at that level. The builder asked $8 million for it in 2007 and found this buyer in 2008 at $7.5 million but more fool he.

It’s a perfectly nice house, but some locations don’t garner huge prices, and this is one of them. At the right price there’s a lot of house here, and there is absolutely nothing wrong with its location – time is on someone’s side – probably the ultimate buyer, though.

5 Comments

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5 responses to “Yesterday’s news

  1. duff

    CF, “Hey, this is supposed to be a real estate blog so it seems only fair that I report on rel estate, even if nothing is going on”.

    24 Maher Ave foreclosure auction today. Highest bidder, the bank holding the mortgage, despite 15 registered bidders present and bidding.

    Not worth reporting on?

  2. Virginia Beach

    Have they reported a price on that house on Nearwater Lane that you mentioned a couple of weeks ago?

  3. jj

    Wow, three sales all significantly above their assessment.