Daily Archives: April 24, 2012

Same people, same mores as Occupy vandals

“Green” activists trash parks in celebration of Earth Day. They then climbed into their private jets and flew to Bali for an earth warming party.

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No wonder Peter Teseikalosa moved out

No worries in Cos Cob

CL&P officials warn Cos Cobbers: prepare to lose power for up to three weeks. For those of us who actually have electricity and know how to use it, it makes sense to be ready to do without. Stock up on freeze-dried, lots of batteries and of course, keep your powder dry.

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Oddest headline of the day

Frozen cows in cabin spur warning at hot springs

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Ask a Realtor a question, get an honest answer. Yeah, right.

From reader “Gordon” : Realtors say lowball offers a thing of the past.

Marnie Matarese, an agent with J Wood Realty in Sarasota, Fla., said that while lowball offers are far fewer this spring, some out-of-town buyers still appear to be under the impression that all Florida real estate remains depressed [it is, but don’t tell Marnie – Ed]. They insist on submitting offers that make no sense in today’s environment. But Matarese has no problem with this — “you can’t blame a buyer for trying to get a good deal,” she says, but the fact remains: They usually risk losing the house.

Uh huh. It is true that lowball offers rarely work in Greenwich – it’s also true that, a year or two after a low offer is indignantly refused you’ll see that house either still sitting on the market or sold at a price lower than what was offered way back. I’ll try to discourage a client from extending a bid that obviously won’t go anywhere; $1 million on a $3.5 house, for example, but otherwise, go for it. Unfortunately, buyers with a good grasp of current value often don’t succeed in accomplishing anything except start the owner on the path to reality. Three years later, someone else wil reap the benfit of that first would-be-buyer’s efforts. Oh well.

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Smart agent/owner

35 Park Avenue (older picture taken from 2006 listing)

Often, real estate agents are the worst offenders when it comes to pricing their own houses but here’s one at 35 Park Avenue Old Greenwich that defies that pattern. $1.995, purchased for $2.295 (full price, 18 DOM) in 2006. New kitchen and possibly other updates – I haven’t seen it yet as it just came on this afternoon and open house will be Thursday). On a half-acre, almost huge by OG standards, and, given Old Greenwich’s current active market, fairly priced, in my opinion. Again, that’s sight unseen, but the numbers seem to work.

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Joining the parade

The elephants come to town, and stay

135 Taconic Road is for sale again, this time asking $17,500,000   – it sold in 2005 for $11,460 million and presumably some improvements have been made but I don’t expect this to shuffle off the market soon, despite its claim that it “offers archeturally [sic] stunning” space. There are currently thirteen homes priced at $15 million and above – in the past two years, four houses that weren’t waterfront (and four that were) sold for more than $15. Will this be the fifth? I’m not sure that four acres and 11,000 square feet (with an additional 6,000 of walk-out basement) will draw a crowd, but as sellers like to say, “it just takes one”. We’ll see.

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Ooh! Ooh! Extreme weather alert! Ice age coming!

Tod's Point picnic, interrupted

Cooler summer than average on tap due to el Nino. May will be warmer than average, the summer cooler. And no, you can’t blame George Bush, but the media is sure to.

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Peter Tesei: Repeal Frank Farricker Day!

Ya wanna hang out with kindergarteners, go to Thailand, you freak. No Lotto for you!

Poor results: 16,000 apply to school lottery, only 4,000 win. I blame the Lottery Commissioner.

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If there were real estate news, I’d report it

Slow day in Paradise. Did see an osprey fly by my creek house this afternoon with a fish (eel, I think) clutched in its talons. The birds returned about two weeks ago and I’ve noticed them working the waters both on my creek and in the Mianus Pond (behind the dam on the Post Road, for newcomers), but this is the first successful catch I’ve been lucky enough to espy.

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I read this headline and somehow I just knew the manufacturer had to be Chinese

Company names sunglasses line after Helen Keller. Spokesman says that Heller is honored in China and the name was intended as a tribute. There’s a certain disconnect in Asia from western culture and social mores, as evidenced by the proliferation of Hitler bars and restaurants. Fortunately our “smart diplomacy” president is doing his best to bridge one of those chasms, the Asian taste for dog meat.

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But then, the democrats have a long history of racism dating back to their pro-slavery days

Hide the white women!

Democrat stalwart Marion Barry: After we get rid of those filthy Asian restaurants, let’s chase out Philippine nurses.

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Sale reported

19 Sunshine Avenue, NoPo. Asked $759,000, got $650,00, 282 DOM. Fudrucker points out that what we’re seeing these days are “shelter sales” – basic shelter, no trophy houses. I agree.

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Almost here

Lined up and ready

Dunkin Donuts’ Old Greenwich store has removed the brown paper from the windows – counters and equipment in, tables installed. The tables are orange – I prefer to rely on caffeine as my morning eye-opener but some people must like being visually assaulted.

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And the new school superintendent is …

We have a winner!

Someone from Massachusetts. Patrick Kennedy, maybe?

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Selectman Peter Tesinski strikes gold

Introducing the new "Peter Tesei" tie by Vineyard Vines

His new abode in Greenwich comes with a $998,000 loan from Luxury Mortgage – monthly payment with taxes and insurance are estimated to be $6,000 a month. Monthly gross salary for First Selectman is $10,500 a month. Income to qualify for a million dollar mortgage is $362,934. Assuming one doesn’t still own a condominium on River Road with a $500,000 mortgage on it, of course, because then he’d need an income of $500,000 a year. I figure the man must have a side business – a new tie line?

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Is the spring market already over?

Maybe – just 19 open houses today, only one of them new. Back country is getting nailed, if not in price, then in lack of interest.

Speaking of back country, 43 Richmond Hill Avenue, which sold for $4.9 million in May, 2006 and was returned to market in August, 2010 at $5.495 is still for sale and priced today at $4.495. Keep going.

85 Richmond Hill

And while we’re way up on Richmond Hill, how about number 85, which sold for $7.1 million February 2006 and put back up for sale at $8.9 million just a year later in February ’07 (snicker). It, too remains unsold – latest asking price is $6.144. If you want to date the day the Greenwich real estate bubble reached its zenith, when a huge spec house could be built anywhere in town no matter how far beyond the pale and still sell, this house and February 2006 would be a good place to start.

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New job for the community organizer come January?

Delivering pupperoni pizzas?

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