Aw, isn’t it sweet? The urbanites, forced to choose between gun-wielding Neanderthals and evil gas drillers goes with the hunters. Must have been quite a discussion held over their lattes (great comments beneath Ann Althouse’s post).
Daily Archives: November 11, 2011
UPDATE: Wouldn’t these rich kids be more comfortable hanging out in Michael Moore’s weekend place and protesting his living in a segregated community?
Four spec houses were built on Boulder Brook Road during the frothy days of 2007 and early 2008 (pre-Lehman). One fared better than others.
Eighteen Boulder Brook sold without ever being exposed to the market in November, 2007 for $5.999 million – lucky seller, foolishly eager buyer, who should have waited.
Number 9 Boulder Brook, to my mind the best of the four, was priced at $6.750 in 2008, a price no doubt inspired by the sale of number 18. It sold two years later for $4.4 million, just as the lender was closing in.
Number 33, priced at $6.875 in February, 2008 sold yesterday for $4.882.
Number 39 Boulder Brook was seized by Patriot Bank, and its new price, down from its first, imbecilic price of $8.595, is now $3.999. This could be a good deal.
Some of these buyers must be regretting their choice, assuming that a street is valued by comparable sales. The guy who paid $6 million for Number 18, for instance, has probably lost $2 million in just four years – that’s an expensive rental. And I’m a bit perplexed by the willingness of yesterday’s buyer to pay almost a million dollars more than the current price of the remaining spec house on the street. Thirty-three is a far nicer house, but is it worth an extra million? Maybe not.
On the other hand, new construction on Verona Drive in Riverside, priced at $4.250, has gone immediately to contract. Okay house and decent location, but a tiny yard. Go figure.