Slow days still

Nothing much of interest in new listings coming on but I’m busy chasing older listings with my clients so I suppose it’s good we’re not distracted by anything better showing up.

11 Winding Lane has taken another price cut, to $6.625 million. This has been for sale since 2007 when it asked $9.975 and it remains the prettiest building lot in town: three flat acres, lovely lawns and gardens and a location that’s just about perfect for proximity to town. But unfortunately, it has a house on it that the owner thinks is worth a lot of money while buyers seem to want to tear down. Until the owner accepts that and lowers her price to reflect land value alone or, better for her, finds a buyer willing to sink a million or so into fixing this up, I don’t think it will sell.

So what’s this three acre building lot in the two-are zone worth? I have my own idea but I don’t want to hurt the seller’s feelings, and besides, the market is already telling her the bad news.

24 Comments

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24 responses to “Slow days still

  1. Georgie

    Stunning landscape on the property….must be horrendous inside that there is not one shot of the interior.

  2. InfoDiva

    How bad must the house be that there is not a single picture of the interior? Is it untouched since 1937 (could be interesting) or last renovated in 1975 (far worse)?

  3. Let me know what you think of the prices the banks paid on Ruth Jones homes at auction. Distressed prices? A few NC agents told me this summer they could only sell her Beacon Hill McMansion for $2mn in this market. Ridgefield Bank paid $2.25 but it was with a credit bid
    http://www.teribuhl.com/2012/09/12/469/

  4. Anonymous

    What about the open house at 100 Club?

  5. Just_looking

    “I have my own idea…” that I reserve for clients is how that sentence should end. Sign a buyers agreement and you can find out….

  6. pulled up in OG

    BingMaps – WTF is that across the street, the ugliest house in Greenwich?

  7. hoopla

    pulled up: indoor tennis court belonging to field club. it’s set down in a ravine so when you drive by you just see the top of it. nobody pays much mind to it.

  8. anon

    hoopla: how did a commercial (albeit private club) building end up on such a high-end road? i wouldn’t want the extra car traffic seven days a week, even if it is down a ravine.

  9. hoopla

    anon: i think the facility was built long ago (1920s?). the traffic relating to it is minimal at best.

  10. anonymous

    Used to be the Rockefeller’s private court.

  11. Sunny

    Exquisite house on the outside… would be a shame for someone to tear it down and build a standard issue McMansion. How about a gut interior job instead? Best of all worlds.

  12. Sunny

    P.S. Now this home’s exterior is beautiful… the exterior of 154 Stanwich that you extolled in the entry above this post is a far cry from beautiful. Its a great example of what I called standard issue McMansion. No character or consistency of architecture whatsoever.

  13. Anonymous

    I found interior pics here and it’s lovely inside too. http://www.fairfieldcountylook.com/index.php/real-estate/2051-11-winding-lane

    I don’t know why the agent isn’t pushing the interior shots unless the client doesn’t want them…

  14. Anon

    good find anonymous; the staircase railing is extraordinary; and so too the size of the rooms. i agree the interior photos should be used.

    • It is indeed a beautiful home, whose layout and formal decor should appeal to any couple in their mid-sixties looking to start a family. When that couple appears, the house will sell.

  15. Anonymous

    Def not a tear down, but needs a new kitchen, baths, etc. Shouldn’t be more than 500k to make it beautiful again.

    • Well let’s think about that: insulate the walls, add new wiring maybe a/c, new plumbing, baths, kitchen, expand that kitchen to make it an eat-in/family area, new windows, and probably a few other items along the way. You might be able to do all that for $500,000 in Fayetteville, Arkansas, but Greenwich? I think not.

  16. anonymous

    Owner should open a gift shoppe. Gives me a headache just to look at the pictures.

  17. Sunny

    Chris,
    This interior doesn’t need nearly as much updating as a lot of traditional homes for sale in town and featured in your blog do! It merely needs decorating and new kitchen cabinetry–which buyers do to any home they buy in this price range. By the way, the stove looks to be a reconditioned vintage 1930’s piece–very cool, kind of like a British AGA oven kind of cool.

  18. Anonymous

    No way this sells as land value. Final price has at least a 5 in it if not 6. Stunning.

  19. Anonymous

    Land value only, though an exceptional piece of property. Looks like it was last renovated in 1975, and not very high quality then. The extreme clutter doesn’t help. Are these people superstitious about getting rid of chairs? Canned track lighting? Agree with Chris – it would probably cost less to knock the house down and rebuild than to go to the trouble and enormous expense of a gut renovation.