Daily Archives: April 28, 2011

Could Rajamataz actually get off?

Four days without a verdict on what I (and most other people) thought was a slam dunk for the prosecution. In a sneaky sort of way, I kinda hope he does get off, just because I don’t like insider trading cases, but I don’t see how he can. Then again, i thought OJ was guilty, so what do I know?

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Another Lake Avenue sale

400 Lake Avenue

This is a beautiful house and one that I really liked. Unfortunately, it was priced at $4.8 million when it first came on the market in February, 2010, and what are you supposed to do with that? It sold today for $3.5. purchased for $3.2 back in 2001.

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Here’s a surprise

Californians favor taxing “the rich” rather than cut school spending. What these bong-sniffing dreamers still don’t get is that there aren’t enough rich people left in the state to support the rest of them and there will be still fewer in the years ahead when these tax increases hit.

And then they will turn on each other.

Bad link before – sorry!

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Single-stream recycling is coming to town

I hear that, as of August, those hateful blue recycling bins can be discarded (are they recyclable?) because Greenwich is switching to backyard pickup, in which everything: newspapers, tin, all kinds of plastic, (maybe cardboard and paper?) can be all jumbled together. That’s fine – it’ll be a little less of a pain in the ass – but the whole recycling movement is a fraud and a waste of time and money. Worse, it creates the impression among school children and naive adults that we’re “doing something” about the environment when we’re actually accomplishing nothing.

As Arlo said, “you want to end war and stuff you have to sing real loud”. Residential recycling is a mere whimper.

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Lake Avenue sale

1003 Lake Ave

Sold for $4.9 million in 2006, “renovated” (new baths, etc.) in 2009, sold today for $3.976. Assessment (70% est. market value) $3.962.

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Zoom zoom!

I drove by the Cos Cob Gulf station (across from Dunkin Donuts) and noticed its price for regular was $4.29. That was a painful sight but after dropping off a shipment at Packages Plus and going back the other way – elapsed time, 7 minutes? – I saw that the price was now $4.41. Owie.

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Ask and maybe ye shall receive

1 Thistle Lane

This Glenville house is asking $1.3 million, just about in line with its 2010 assessment. I find it interesting, though, to see that it’s been on and off the market since November, 2001, when it also asked $1.3. Maybe this time.

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So, should you buy a house this year?

Maybe yes, maybe no, but, looking at things from a national perspective, probably not. Two points: Greenwich is not the national market – not yet, anyway, and seems to be at least holding its own against further decline. And, as the pessimistic author points out, if you believe all this massive federal spending is going to send inflation through the roof which he does, then there’s something to be said for locking in your housing costs now.

And you do need a place to live. I think that, if you find a house you like and it’s a relative bargain, you won’t go too far wrong. But I may be just whistling past the graveyard.

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Look for, the union label

Police union grieves its chief for making a drug bust while off duty – he’s not part of their collective bargaining unit.

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You sure you want that tofu burger instead of juicy real one?

Soy beans block DNA repair

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Is UBS returning to NYC?

It denies the rumors.  Of  course, this is the same firm that insisted, until it refused to redeem them, that auction rate securities were as good as and the equivalent of cash, so you may want to take that denial with a dash of salt.

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Odd decisions in pricing

20 Center Drive in Old Greenwich came on the market in June, 2009 asking $879,000. It didn’t sell so in March, 2010, the owners fired their broker and switched to another, who dropped the price to $819,000 and, eventually, all the way to $775,000. Still no luck, the listing expired last September and came back on this March with yet another broker, priced at $859,000. Now my philosophy is that if a house won’t sell at one price the solution is not to raise it and apparently the market shares that thinking: the house didn’t sell and today it’s been marked down to $839,000.

Here’s the problem: a potential buyer knows that the owners were willing to accept $775,000 and probably less, so why would he offer $839,000, let alone $859,000? You can always go down, but going back up causes problems for sellers.

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