How can you go wrong here?

142 Cat Rock

This house is almost new and was purchased for $4.05 million in 2005. The owner priced it for resale at $5 million and it has dropped, dropped dropped ever since. Today it’s at $2.625, which is just about its 2005 assessment (which was supposed to be 70% of its 2005 market value). I think the house is fabulous and I really don’t understand why it hasn’t been snapped up. There may be septic system issue regarding the number of bedrooms (it has six) but that shouldn’t be insurmountable. This house is a very good deal.

14 Comments

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14 responses to “How can you go wrong here?

  1. Anonymous

    tough location. a tiny, not really a neighborhood of homes wedged into smallish lots, surrounded by gobs of open space, and difficult access.

  2. Cos Cobber

    stigma! a poster child for stigma.

  3. As a general principle in non-sewered Greenwich, what used to be surmountable will become vastly more difficult to achieve after the next wave of regulatory changes.

    The Greenwich CT Commissioners of Planning and Zoning have scheduled a public hearing for Sept. 28 to consider new definitions, among them “lot coverage.”

    Most of the new technologies available to resolve land-water issues are proposed to be classified as “lot coverage” at a factor of 100%, meaning fully countable and deductible from the allowable amount.

    http://www.LandWaterSolutions.com has provided a commentary and analysis page to receive input prior to the hearing.

    It is vital that these technologies not be penalized, since they are the solution to the issues involved.
    See: http://bit.ly/9jxp5w

    File this under “One and Two Dimensional Regulations for a Three Dimensional World.”

  4. greenwich dude

    agreed on the deal, although the eventual buyer will have to look past or get into tasteful contemporary adirondack-ish style. i happen to really like the vibe of the house a lot, but there’s a lot of detail work that seems to represent someone else’s aesthetic stamp.

    if you think the yard size is good, wait ’til you see the junglegym / play area. kid paradise.

  5. anon

    Cat Rock Rd is a tough sale. I’d hate to drive my car up and down that street every day and I sure wouldn’t want my kids riding bikes there either

  6. Anonymous

    CF, may work for other buyers.

    when we took a look on paper, we were attracted by the stats on lot size and the temptations of space and therefore privacy. north street schools too, IIRC. when we visited, it was wedged in between the other homes like a house in riverside or og. a gentle underhanded softball toss hits the neighboring homes. we would have lost the tremendous community and convenience of riverside with no offsetting gain in privacy. there’s no privacy from the road either: isolation without privacy on a section of cat rock which is tough for those of us still in heavy-duty chauffeur mode for the kids’ sports, activities, playdates, etc.

    nonetheless housing tastes are individual, and surely it’s a bargain for someone. hopefully it’s you who finds them.

  7. Anonymous

    Anon @2:09 you just talked me out of it.

  8. Anonymous (II) I encourage you to see the house and decide for yourself – and no, it’s not my listing and I have no financial interest in this deal. It’s a good house, and just because Anonymous (1) didn’t like it – and I completely understand his objections – doesn’t necessarily mean you won’t. I’m an avid booster of Riverside myself, as you have probably noticed, but I like this house. It costs nothing to look.

  9. anonymous3

    anonymous (1)…did u even look at the backyard? i have also seen this property (unfortunately its too much house for me and is quite larger than what shows on paper), you could have a full on baseball game on this property, let alone an underhanded softball toss. as for no privacy from the street or neighbors…i visited this house mid-fall and the house was completely surrounded by trees with no neighbors in sight, nor was there any view of the street or noise from the street, it was completely secluded. there was in no way any feeling of being “wedged in” between the other homes. this house is a must-see.

  10. out looking in

    Chris-

    As a former student at the EM (Efficient Market) temple, if it were such a steal it would not be available. It would have been stolen. OBVIOUSLY on balance the current buyers are not interested at the most recent price. If it drops to $2mm, I’ll buy it. But that is NO street to raise a family…and if it has 6 or 8 bedrooms, it would likley be a family home. There is negative cachet to live on the Cat, as I was informed of this way before we ended up buying in Greenwich.

  11. Martha

    What’s the negative cache with CatRock?

    I love all these comments, can you all come around on our go-sees?:-)

  12. out looking in

    CF-
    Let’s watch, if it gets close I’ll call you