Daily Archives: September 18, 2012

Some sales reported

106 Parsonage: Got sleds?

Only one, 106 Parsonage, was ever actually listed – the other two were private sales that are being reported just for credit in the market share game played by all of us (and nothing wrong with that – we need sale prices, private or public, to establish value).

I’ll admit to not being overly enthusiastic about Tom Gorin’s 106 Parsonage listing when I saw it. An acre of so-so land, a house that I would  have considered ripe for replacement and priced at $2.875, I thought it would linger, and clearly I was wrong and Tom, as usual, was right – sold for full price in just 37 days.

44 Khakum Wood sold for even more: $6.8 million. It sold a year ago for $200,000 – $300,000 less but supposedly some renovations were made. Never saw them, of course, so can’t opine on whether this represents an improvement in the market or just return of money.

And then the selling price of that almost-island at the end of Indian Head Road, 26 Pilot Rock, which I mentioned some months ago had sold privately, was reported today: $15.9 million, which is a lot, eh? Nifty, tiny contemporary with spectacular views down Long Island Sound to NYC and equally stunning views up the Sound to the east. My only quibble, as I pointed out previously, is that it comes with the best striped bass fishing in the area just offshore. That’s handy for the new owner, if he’s a fisherman, but it draws other fishermen like moths to a flame (blues to a bunker?) and they anchor just a few yards from the house at night, lights on, music playing and perhaps even a few beers opened. All that ends by December, of course, when the owner can reopen his windows and enjoy his solitude.

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Attention Tea Party organizers: here’s our best target

So that’s it? Vegetable roll-ups?

Students go on strike over new federally mandated 800-calorie lunches.  High school football players are going through 3,000 calories during the day but are allowed just 800. When I was twenty, quite strong and unusually stupid I spent six weeks in Wyoming’s Wind River Mountains, humping 100-pound-loads up and down the back country and consuming 5,000 calories a day. On my return to civilization, I’d lost twenty pounds and back then, there was no flab to burn off.

My point is this: this generation is an ideal group to approach with the novel concept of limited government – they’ve been hammered by the nanny state – they can’t drive until they’re 45, have to sit in booster seats in mommy’s car until 14, the state determines what size soda they can buy, the helmet they must wear when biking, what they can say in school, bars them from ordering a freaking Happy Meal, for christ’s sake, and so on – the boys can’t even have sex without fear of being locked away for decades.

Then add in the impending bankruptcy and collapse of the “safety net” these kids’s elders were teased into compliance with. There will be no Social Security waiting for them, no MediCare, ObamCare will be bust and they won’t find jobs after college. The complete fraud that is modern American society as structured and promised by the Democrats will be so obvious, so exposed, that even a graduate of the Chicago public school system should be able to see it.

So focus on the young – nothing like starving to death on the direct orders of the First Lady to turn a young mind towards freedom.

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By their friends ye shall know them

Yours is an America I can understand and like, Laura

Congressman Laura Richardson (D. Calif.) has been reprimanded twice in the past few weeks by the House Ethics Committee, first for illegal use of government funds, now for terrorizing her staff for cooperating with House investigators. Apparently this obnoxious person has always abused her staff, so it’s only the theft of funds that’s unusual, but it’s interesting who she hangs with.

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It’s blowing like stink, thunderstorms and tornados are forecast – have you received your Tesei robo-call yet?

I haven’t, but I think our First Selectman is annoyed at me. And it’s certainly true that most Greenwich citizens receive these alerts only after the danger has passed, thereby justifying the federal money we took to install the system while at the same time sparing everyone the fear of impending doom. But I wonder, in light of recent stories of town employees dozing off on the company’s dime, whether something else is in play here?

 

From the recycling bin: Greenwich Emergency Alert Desk

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That Romney video just keeps sounding more powerful

Yesterday we learned that Romney believes that the scum suckers who comprise the Democrat base aren’t likely to vote for a candidate who offers them the opportunity to fail, today the next shoe dropped: “Palestinians have no interest in peace with Israel” – oh, the horror, he said it! He’s not supposed to say it!

I’ve never been a big fan of Romney, but if he keeps up this strategy of telling the truth out-loud, I could grow to like him.

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West meets east

New Jersey mortgage foreclosures now exceed Nevada’s. Here in the northeast the process of “judicial foreclosure” slowed the process for two or three years so we didn’t look as bad as Harry Reid’s state, but that delay is ending and the shadow inventory is being released. Homeowners, shut your engines: you can’t afford to move.

Wendell and Margret Brady haven’t paid their mortgage in more than three years, withholding the money amid a foreclosure dispute on the couple’s 11-bedroom house in Morristown, New Jersey.

The Victorian home, built in 1887 and owned by the retired couple for 38 years, is part of the growing backlog of properties facing repossession in the state, which now has the second-highest serious delinquency rate in the U.S. While shrinking nationwide, the pipeline of distressed real estate, or shadow inventory, is also growing in New York, Connecticut, Maine and Pennsylvania because of state laws that slow the foreclosure process.

By some estimates, the visible inventory of 2.4 million homes for sale nationwide is dwarfed by the hidden supply, which may number 5.7 million, according to a Morgan Stanley analysis. The U.S. shadow supply — a combination of off-market bank-owned homes and properties forecast to be repossessed by lenders –has decreased by a third from the peak in early 2010 as more homeowners have lost their houses or received a loan modification that allowed them to bring their mortgages current, Morgan Stanley said in a July 26 report.

The U.S. supply of properties listed for sale, a seasonally adjusted measure of how long it would take to sell off the inventory at the current sales pace, fell to 6.4 months in July from 9.3 months a year earlier, according to the National Association of Realtors. That helped push up the median sale price of an existing home by 9.4 percent from a year earlier to $187,300.

The logjam in New Jersey may be breaking following a February ruling in a case involving the state’s Fair Foreclosure Act, which required lenders to furnish the name and address of the note holder on foreclosure notices, rather than just the contact information for a loan servicer. In July, lenders filed 2,387 foreclosure complaints in the state, more than twice as many as a year earlier and the most since December 2010, according to state court data.

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Open houses

I mentioned last week that 11 Will Merry had been reduced to $2.5 million and I went up there to see how at looked at its new price compared to its first price of $3.6. It looks pretty darn good. This is a very nice house, with lots and lots of room, a walk-up attic, high ceilings, and an easy layout. It does have Merritt noise and while you won’t hear it from the front yard or inside, you will definitely know it’s there when you’re out back. But that backyard, 2.5 acres of it, also has a beautiful pool area and a tennis court and huge lawns. Whether that outweighs the highway noise is of course up to you – personally, I’d take all this space and its amenities and adjust to the noise – and your ears will indeed adjust, within a few months – over a 1/4 acre in Riverside, any day. At the very least, I’d give it serious consideration.

46 Dewart Rd

Another house I liked was 46 Dewart, an 1850 barn moved from somewhere else and moved here many years ago. Great, flat yard of 2.5+ acres, all landscaped, pool/garden and then the house itself, a quirky old barn in first-rate shape that smells of old timber (that’s a good thing, to my nose). Just three bedrooms up with a fourth, smaller one with its own bath on the first floor, but there’s probably room to add another bedroom upstairs if you must. I think this would be a fine, fine house to raise a family in, but a couple with grown children would, or should, appreciate it too.

The layout winds around and there’s no grand formal staircase because it’s a barn, for crissake, so if you’re set on a traditional builder’s colonial this one is definitely not for you. Looking for something different? Try this.

It’s asking $3.3, and that’s a pretty good opening price, because the land it sits on is probably worth close to that amount on its own. In fact, I was told that a couple of prospects came by last week who were interested in it as land only. You could do that, I suppose, but if you tear this down you should know that I will personally track you down and exchange harsh words – go find someplace else to erect your 10,000 sq. ft. pile of blech and leave this one for someone who can appreciate it for what it is.

I also saw a ranch, address withheld so as not to embarrass the owner (I’m feeling charitable today) that was priced at $2.1 and is worth, I’d guess, $1.450 million. These mis-prices are frustrating because they’re so useless. I have clients in the $2+ range but I’d never waste their time on this house at that price, and I have clients looking for a ranch in the $1.5 range who would probably like this property very much, but what am I going to do with them, and it, when it’s $600,000 overpriced? I’m going to do nothing; in fact, I won’t show it. A year or two from now I’ll probably have different clients in the one-and-a-half range and this house might then have been reduced to a level where it’s of interest. But I’d rather have a house to show my current clients, now.

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Champion of the poor

But Obama wants to help, and isn’t that enough?

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A couple of open houses of interest

Four, actually, out of 32? Mostly already-seens and price reductions that don’t quicken my pulse, plus a few new ones priced so that I’m confident I’ll have time to visit them in the coming months.

15 Pinecroft

One sale reported, 15 Pinecroft, asked $5.995, got $5.450, so that’s one of the $5 million crowd off the floor. 160 more to go. This house was interesting in that it has a quasi-colonial exterior and a modern interior. I liked it, some agents did not, but it sold within a few months so we know that the only person whose opinion counts, a buyer, found it acceptable.

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What he said

 

Lazy loafers

Gallup: 67% of Democrats think government should do more for them

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So how come I can’t get a date and (why isn’t this guy a candidate for public office)?

Who loves ya, baby?

Central Park rapist (the latest one) has an IQ of 40 and a rap sheet dating back to when he was ten, yet had a girl friend. The Colorado Bat Man shooter had a girlfriend. Good God, Mark David Chapman not only had a girlfriend, she married him and still visits him for conjugal visits (!).

Clearly, there is someone out there sick enough for every weirdo – I’m almost inspired to go looking. Walt, meet me at J’s?

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