Dumbest home seller in Greenwich?

54 Rock Maple

Well there’s a lot of competition for this title, but my vote’s going to 54 Rock Maple, off of Stanwich. The seller had Fran Erlich list it for $12, 450 million way back in 2007, and if Fran didn’t tell him that she could hear us agents laughing as we left the house, she should have.

Four years, a half-dozen agents and many price cuts later, the house is finally under contract today. Its last asking price was $4.995 million and after this much time on the market looking like an unwanted dog, it is probably selling for even less than that. Had it been priced at say, $7.5 million back in 2007,I guarantee you that it would have sold long ago, and for far more than $4.5. Silly. Yet still, the buyer’s getting a good deal, so only one-half of this equation makes no sense.

14 Comments

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14 responses to “Dumbest home seller in Greenwich?

  1. Cos Cobber

    yada-yada on pricing…i still love the look of this house.

  2. Bookem Dano

    yep. If I recall correctly, there was an equally sized home on nearby Mohawk Lane that sold for 8M around 2007-2008.

  3. FeelowRealtor

    CF,
    How can I put this gently?
    At the rate you’re going you’ll never get a listing in Town again and even if you work solely with buyers, sellers will be so pissed at you talking down RE prices that they’ll reject any offer you make….you don’t have to print this…

    • You’re probably right, Feelow, but I didn’t “talk down” this property’s price, the owner was responsible for that by so grossly over-pricing it to begin with. Had he listed with me, and priced it appropriately, he’d certainly be several million dollars ahead of the game. But I’m sure he’d rather be angry at me. So it goes.

  4. Robert

    Dear Chris,
    The sellers of real estate in Greenwich shouldn’t be pissed at you, they should be pissed at the speculators and builders whose houses went into foreclosure and are selling for fifty cents on the dollar. Those sales become the new comparable sales. You need wealth destruction to create the next cycle of wealth creation. Keep up the good work!!
    Best, Robert

  5. Bookem Dano

    36 Mohawk Lane, 03/11/2008, Sold $7,500,000
    No pool

  6. Bookem Dano

    36 Mohawk Lane, listed now for $6.5M!

  7. anonster

    Sellers dont have to accept any offer from anyone. Unless they want to sell, then if the market doesnt come up to their level, isnt their current offer “the market”?

    Just asking

  8. Feelow, if Chris has the best offer on the table you should advise your client to take it. And he can’t “talk down” prices. Supply and demand drive prices. All he can do is point out prices that are out of sync with their competition or recent sales.

  9. Last Liberal Standing

    CF,

    Enjoy your next Ethics session!

  10. WaitingToBuy

    Feelow Realtor – Your comments acknowledge one of the problems – selective disclosure of offers to your client. Every offer should be presented to the seller and they will make their determination price/terms/ability of buyer to close, not who the buyer’s realtor is. However, for the realtors who want to self-deal and represent both the buyer/seller or only sell to colleagues from their agency, then you are just as guilty as driving down the prices.

  11. anonymous

    It was a beautiful house but I blame the realtors who overprice and dont at least tell the truth..in writing..to the owner. what a mistake.

  12. Priapus

    Feelow Realtor aka “fluffer”- How can I put this gently? You are what’s wrong with realtors. The market is the market, and I resent the implication that you weight one side of the transaction. If I knew who you were, I would NEVER BUY a house from you, so a funny circle huh?

    Life101: A fair transaction is one of which you would be willing take either side. In fact, you represent and position believing that you can mastermind a “better” or scummier deal for your seller.That is your job as you see it. Yeah, Chris won’t win a lot of friends, but you are ethicly obligated to show every bid. Circumstances of sellers change, and they may not even tell you what they might actually accept. The horrors, sellers “work” you too? I would sue any realtor that didnt show me a bid. ALL INFO is relvant. What I wouldn’t consider a year ago, I might kill for today.
    You will be the type of realtor that goes the way of the buggy whip when open and fair transactions are posted on the internet after this train wreck is over, commisions plunge, and over hyped house wives go back to real jobs.
    It bears repeating, the market determines prices, not your artificial goosing of the buyer, and certainly not your “fluffing” of the seller. Sorry, but today houses are bought, not sold. You won’t take this to heart…

  13. Anonymous

    This is a fabulous house with a great pool and three acres.