Open house observations

It’s Thursday, so I was prowling around the eastern side (east of North Street) side of town, I saw one house that I thought might – might – go for $1.495  but, better, $1.295 (I try to guess the prices without looking at the open house sheet). No, this one’s asking $1.995 – what am I supposed to do with that? I have angry readers who demand that I sell their houses for what they want, goddamnit it, but honestly, it can’t be done. Buyers aren’t as stupid as sellers  think they are.

Further down  in Riverside, I saw a wonderful  house that I’d leave exactly the way it is, even though it’s being priced as a land sale. But I was struck by the new broker’s comment that they were leaving the price where it had been with the previous broker because “‘the sellers received several offers close to the asking price”. So why the F**K didn’t you take one of those offers, you knuckleheads??!! You lose out on six months of investment income, you’ll have to keep your house in showroom condition for the same period and run the risk that the market will run against you. You have a great new broker – none better – but the market is the market. If someone offers close to your asking price, start talking, keep the deal  moving and close that sale.


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16 responses to “Open house observations

  1. Cobra

    “You have a great new broker – none better…”
    Does Gideon pay you for each mention (although “none better,” in advertisingese, is a parity claim)?

  2. Cos Cobber

    Three more houses have come on the market here in Cos Cob – south of rte 1 – over the past two weeks. Did you bother to look at any of them today?

    All of them have listed at prices I think are a little high. All of them are completely new to the market as well. I guess we are starting to see some of that pent up shadow inventory come out of the shadows.

  3. Anon

    Are sellers not looking at current comps with their agents when they set a price or are they using old data from 2006? The trend has been down for a few years now and continues downward. Maybe it’s wishful thinking.

  4. Reg

    are prices for < 2.5MM homes in Riverside and OG close to 2006 levels now?

  5. Anon

    Reg, – After buying a house in OG three months ago (inside the range you mention), and looking for a house for over 10 months, I have to say prices are at the 2004 levels. The problem is that in many instances, sellers didn’t wanted to hear that and didn’t bother in even countering the offer. Currently, more than 90% of the houses I looked at are still unsold. Just one buyer’s observation.

  6. Chimney

    Is the blog on Greenwich home prices going to be updated, or was that a one-shot deal? The last entry was March 21.

  7. XyzZy

    I think he is asking about the aol page

  8. Curious

    Where can we find listings for the homes you represent?

  9. just_looking

    @ Chimney. The link is to one article on home sales and I think that they have a weekly update. Check the Greenwich Patch home page or try this:

  10. Shoeless

    No, Chris. It was a reference to the site you directed us to last week:

  11. Libertarian Advocate

    Hey CHRIS, quick, call Phil…. Maybe there’s money to be made here before AOL slips below the waves.

  12. Chimney

    My question was in reference to your Blogroll entry called “Grenwich property sales prices”