Daily Archives: April 27, 2011

Trying once again to fix the comments

If this doesn’t work, I’ll contact WordPress. I suspect the problem is with  them, rather than with someone hacking this blog. Comments are, by default supposed to be open.

UPDATE; SO FAR, SO GOOD.

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The art and science of price cuts

56 Clapboard Ridge

56 Clapboard Ridge is a magnificent, 1840 house beautifully restored and updated. I loved it. But it was listed at $12 million back in June, 2010 and won’t sell. So today, its price was reduced to $11.5 million. It’s just a suspicion on my part, but no buyer interested in this house at this price range would have been deterred by a mere $500,000. So what’s the point, except to reinforce the message that no discounters need apply? The same message would have been just as forcefully expressed by simply leaving the price untouched, so why bother?

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I guess you can sell anything in some sections of town

There’s a house which I won’t identify because it hasn’t sold yet and I don’t want to be accused of interfering with a sale, but it is of such poor quality that I am astonished to see it is yet again under contract. That makes two sales in the past five years and I wonder what people are thinking? Then again if the new buyers, like the current sellers, don’t expect to live there long, I suppose they figure it won’t fall down during their stay. But sheesh.

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It’s a bidding war!

 
10 Winding Lane

This nondescript house (it had to be a land sale) was listed in December for $2.5 million, dropped to $2.395 and just sold for $2.525. There’ just isn’t much (good) land in the mid-country.

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Oops!

Comments have somehow been turned off – working on enabling them again so bear with me.

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US government attempts to confiscate $2 billion factory – good for business?

This MIT prof thinks not, and suggests that the government’s move against Boeing will frighten off foreign investors and encourage other US companies to open factories offshore, beyond the reach of Obama and whoever the next crook is. I never argue with MIT professors.

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How far back has the market come?

15 Ben Court

I guess we’ll find out, if these two new listings are indicative.

This Old Greenwich house sold for $3.125 in 2004. The owners have done nothing to it since, and have listed it for sale for $3.6 million.

The owners of 4 Buxton Lane paid $2.4 million for it in October, ’09 and claim to have put in $100,000 in improvements. They’re asking $2.990 for their efforts.

Neither of these is located on what I’d describe as a premium street, so if they come close to getting what they’re asking, that should tell us something.  I’ll keep an eye on both houses’  fate and report back.

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