Diddling the numbers at the GMLS

As envisioned

A vacant, almost unbuildable lot on Hawthorne Street in Pemberwick has somehow been approved for building by the P&Z (Laura Siefert, presiding?) and is reported as under contract today. That’s fine, and congratulations to the seller, but I don’t like how this transaction is going into our statistical data base. The GMLS shows it as last asking $299,000, its original price also $299,000, and as having been on the market for just 72 days. That’s absolute, utter civet cat excrement.

“In truth and in fact”, as we lawyers like to spout, this scrap of land has been for sale since 2008 and started at $900,000, not $299,000. Even accounting for the time it was “off” the market, it was still exposed for sale for 462 days. So how do we get the skewed numbers of the GMLS, and why would my organization want to doctor numbers to make the average days on market go down and the ask-to-sale ratio go up? Gee, that’s a real poser.


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5 responses to “Diddling the numbers at the GMLS

  1. Cobra

    “BUILD YOUR DREAM.” Only if the buyer has a bountiful stash of shrooms.

  2. Georgie

    This is yet another example (as your other story on the Riverside self-dealing and hypocrisy by a departing P&Z commissioner) of FACTS conveniently left off to not tell the true, full story.

    As said earlier, kudos to you CF.

    And shame on the GT newspaper who has become all but irrelevant in its reporting of Town business.

    • In fairness to GT, they did report on this application last week and included Siefert’s name in that coverage. I suspect that they sent a young reporter to cover the actual hearing – who else wants to stay up so late at night? – and he/she didn’t do any digging. You’d think the editor would have alerted her, though.

  3. dogwalker

    What has this blog come to when I have to get real estate news from the Greenwich Time???!?!?!? Nice juicy stuff with German mistresses and all . . .