Not everyone on Wall Street got whacked this year, I hope, and if you weren’t, here’s your chance to pick up a Lake Avenue compound from the estate of the sister of the Shah of Iran. 500 Lake Avenue, ten acres plus a couple of houses, sheep pens, chicken coops, stables and a petting zoo (maybe not a petting zoo) has been chopped (you should pardon the term, this having a relationship to the Middle East and all that) from $16 million to $10 million. A million an acre is a damn fair price, especially for this much land so close to town, and you get all the buildings for free. Not bad – step right up, you BSD you.
Daily Archives: February 7, 2012
170 Old Mill Road is a new listing, came on today at $7.795 million. That’s a lot of money for Riverside folks but up there, probably pocket change. What impresses me, however, is that the seller paid $8.850 for it when it was new in 2006. A million off may not move this house but at least the seller didn’t take what he paid for the place, calculate a “profit” of 5% compounded and set his price there. Believe it or not, some sellers are still doing that. In such cases, the word “sellers” of course, is to be understood as aspirational only.
What do Wisconsin Governor SCOTT WALKER, presidential candidates MITT ROMNEY, NEWT GINGRICH, RICK SANTORUM and House Budget Committee Chair PAUL RYAN have in common?
They all represent the greed of the wealthy 1% and they’ll all be at the 2012 Conservative Political Action Conference.
WE’VE HEARD ENOUGH FROM THE 1%! Join the rally featuring tents, an inflatable fat cat, puppets, “candidate Walmart,” and more to LET THE VOICES OF THE 99% BE HEARD!
Governor Malloy proposes eliminating twenty-five state commissions. See if you’ll miss any of these:
Here are the panels he would have legislators eliminate in the session that begins Wednesday:
• Adult Literacy Leadership Board • Advisory Committee for the Center of Real Estate and Urban Studies (UConn) • Advisory Committee for William Benton Museum of Art • Bi-State Farmington River Watershed Advisory Committee • Board of Directors of the Lower Fairfield County Conference/Exhibit Authority • Child Daycare Council • Commission on Innovation and Productivity • Computer-Assisted Mass Appraisal Systems Advisory Board • CT International Trade Council • CT Israel Exchange Commission • CT Progress Council • CT Public Transportation Commission • CT Risk Assessment Board • Geospatial Systems Information Council • HealthFirst Connecticut Authority • Housing Advisory Committee • Innovations Review Panel • Medical Inefficiency Committee • Nurturing Families Network Advisory Commission • Quinebaug & Shetucket Rivers National Heritage Corridor Advisory Committee • Small Business Air Pollution Compliance Advisory Panel • Southwest Corridor Action • State Board of Examiners of Shorthand Reporters • Statewide Community Antenna Television Advisory Council • Student Financial Aid Information Council
They can’t cheat. Tim Tebow and Tom Brady register to vote in Minnesota.
Yes, it’s “open house Tuesday”, but the only houses I’m curious about (everything else is either well past its sell-by date and stuff I’ve seen before or raised ranches in Byram) are two biggies, the one on Oakley, $10.750 and the one on Clapboard, $17 million plus. I’d like to see both but I have no buyers for either and the way Wall Street’s going, I’m unlikely to.
Which, by the way, is short-sighted on my part. I used to skip the $7-$10 million houses on the same theory and then suddenly I had buyers in that range and I had to go on a crash course to familiarize myself with the inventory. But still, I doubt the $17 million crowd is coming my way anytime soon and at this price, the house will probably be around long enough to support another open house.
48 Shore Road, direct waterfront in Old Greenwich, is back again, this time at $5.1 million. It was priced at $7.4 million four years ago in March, 2008 and, while it was and remains a great location, that was a silly price for this particular house. So now it’s at a better price, but will it sell? I’d say yes, except for the sellers’ insistence that they retain “sconces in living and dining room”. I’m kidding, but really: you’re asking five million and you want the light fixtures? What, are you gonna take the toilet paper too?
You getting these? Calls from 661 380 3000 come in on my cellphone every so often. I tend not to answer my phone anyway but unkown area codes and callers, forget it. Turns out, the calls come from a spammer in India. That’s annoying.
Harry Reid and his fellow democrats are plnning another attack on internet freedom after their crushing defeat on SOPA. Their masters in Hollywood (and their old pal and co-conspirator Chris Dodd in Washington) have beckoned and harry et als have clicked their heels and saluted. Just as they hate freedom for talk radio, these guys absolutely can’t stand blogs and bloggers and won’t quit. Unless, of course, they’re defeated in November – say, there’s an idea!
What drives sellers to grossly overprice their house? Here’s 112 Indian Head Road, reduced today to $5.750 million, its sixth price drop since starting off two years ago at $7.250. If you want a Zillow “make me move” price, then fine; slap on a preposterous price and if no one bites in three months, yank it off the market and go about your life. But if you actually, really do want to move, why start with that crazy price and then spend two years (and counting, slowly) keeping your house in showing condition, having weekends, weekdays and dinners disrupted and all for naught?
You want to sell, then price it to sell. Don’t hang yourself by your heels and twist in the wind while suffering death by a thousand cuts. It’s an uncomfortable position, for one, and because of the stigma caused by the place sitting on the market so long, you will eventually sell for less than you might have had you priced it right to begin with.
Banks, having figured out that it takes years and costs a fortune to foreclose a home, are beginning to not only approve short sales but tossing in fistfuls of cash to the homeowner to persuade them to sell. This process, if it grows, will create affordable housing, clear out the inventory and start things moving again, all without costing US taxpayers a dime. Obummer’s plan, on the other hand, will keep homeowners in houses they can’t afford, lock out new buyers, continue the freeze on home sales and construction and cost billions. The Democrat way.
Obummer to return fugitive’s cash and thanks the New York Times for uncovering the story and bringing it to his attention. “I’m shocked, shocked to discover gambling going on here”.