It must be the spring market, but you wouldn’t know it

Just about nothing on the open house list today. I suppose I’ll go see 420 North Street, which sold for $2,862,500 via direct sale in 2003 and is now back on, asking $2.795 – by buying direct, these happy owners saved a 5% commission and didn’t have to listen to a realtor prattle on about comparative values – good move.

But 21 North Street was bought with the assistance of an agent and these owners still paid $5.650 for it in 2004. Today it can be yours for $4.845 and, dare I say it, probably less.

And that’s it, unless I want to prowl some tired old retreads, which I don’t. So I’ll be back soon – I actually have work to do for a couple of active buyers and right now, it’s increasingly difficult and time consuming to sort through the chaff to find even a handful of houses worth considering.

5 Comments

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5 responses to “It must be the spring market, but you wouldn’t know it

  1. Stump

    What’s the deal with Palmer Hill, “Stamford’s Premier Luxury Community”? Once again, it’s on the cover of the New York Times Homes supplement, as it has often been seemingly for years. I know it’s technically in Stamford, but it’s practically in Havemeyer and its Palmer Hill name suggests Greenwich. Its frequent, insistent advertising makes me wonder how slow sales are.

    • In fact, Stump, although I’ve done no analysis – it’s Stamford, after all – I do see contracts on the units with increasing frequency. The original developer ran out of money after he was tied up in the courts and zoning process for years and missed the market but someone else has come in and finishing it. I like the location for downsizing – close to your Greenwich friends – no beach in the summer, alas – and reasonably priced, especially if you’re selling in Greenwich and buying here.

  2. Walt

    Dude –
    So I got a letter from Prudential Connecticut Realty. I usually just toss them, but I opened it and it was the 2011 Real Estate Summary for Greenwich. They concluded 2011 “results were pretty good.”

    He listed Units sold by year, but not for 2011. Why is that? He said there were 370 units sold in 2009. So how many in 2011? 400? 400!! You piss off more than 400 people A DAY, for Pete’s sake. FOUR HUNDRED!!! How many was it Dude? And how many real estate “professionals” are there in Greenwich anyway? You are like locusts and seem to be everywhere. I would think there are thousands.

    He said the average sales price was $1.393. So…. 400 times 1.393 is…. Let’s call it $560 million. And 6% of that is….I know you can do that one in your head, but I am cheating and using a calculator. Its $33.6 million. So all you slobs are fighting over a total pot of $33.6 million? YOU ARE ALL LOSERS!!
    Anyhows, now many brokers are there? The good news is, as far as I can tell, even if you did actually ever make a sale, you are break even at best!! So no penalty for your suckage!! That should make you feel good. Right?
    You better call me on the movie treatment. You have no downside. And you may want to reply to that Greenwich nanny ad. $75k must be looking pretty good!
    Your Pal,
    Walt

  3. Sound Beacher

    Don’t be a snob CF, Stamford has 3 beaches. Cove, Cummings and West Beach and they have a town pool- Dorothy Heroy, better than Byram pool, for sure.

  4. Anonymous

    Stamford has wookies. Lots of them!