One sale, two accepted offers, one price reduction

Cross Lane: Byram’s got nothing on Cos Cob swimmers.

39 Cross Lane (Cos Cob, if the above-ground pool didn’t already give that away), sold for $960,000. This was a decent house on a good street.

28 Oval Avenue, Riverside, asking $1.275 has (another) accepted offer. Another very decent house, I thought, dated and in need of updates but a reasonable amount of money spent here would make sense.

23 Dorchester, also in Riverside, asking $1.295, also reports an accepted offer. This is plain vanilla structure housing but it’s also, like Oval, about what you should expect to pay for this level house in Riverside. Walk to schools, trains, but forget playing polo in the backyard.

28 Thunder Mountain

The owners of 28 Thunder Mountain Road, so named because of the roar of the nearby Merritt, bought it new from its builder for $5.650 million back in 2008,  after he’d marked it down from its 2006 price of $6.495. That doesn’t look like such a bargain today (but what 2008 price does?) as they’ve cut its price from $5.9 to $5.295. Less than they paid for it, but this road and a number beginning with a “5” don’t feel as though they belong together. At least, not to me.

9 Comments

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9 responses to “One sale, two accepted offers, one price reduction

  1. Anonymous

    39 cross a good house? you’re kidding, right? did you actually see it up close & personal? kitchen was quite nice, that’s where they sunk the $. otherwise, rest of place was tiny rooms, weird configuration, ultra-cheap materials, cheapest of cheap siding that was shot (and moldy), wood trim everywhere that was borderline needing replacement (due to neglect) and did you try that basement access out in the backyard? insane! how on earth that deck passed code i’ll never know. basement access is fine if you’re a midget and carrying in a chia pet. otherwise, completely impractical and useless.

  2. Anonymous

    oh and p.s. the walls were trashed with dirt marks, chunks taken out, etc. needed a complete repaint and patching. not a big deal, but….it is what it is.

    super friendly and adorable dog at house, however. the dog and the big backyard were the best things about it.

  3. Anonymous

    i wanted to like that house, as it was in the budget and a decent area. but, it would’ve required a good $30k of cosmetic shaping up. and who knows if that molding was shot. if so there’s another $75k. if i recall, it was that fibrous stuff, not vinyl.

    all issues that could be overcome, but the ultimate killer was that incredibly stupid basement access. there is no way that thing was legal.

  4. patrick

    I’m pretty sure the owners lost about $350-400k here. Location is nice with big yard and close to the park and train. Agree on the basement…

  5. Anonymous

    28 Thunder Mountain? An ugly building in a lousy location. Good luck to the suckers who bought it new getting anywhere near what they paid. (An out-of-town buyer maybe? Desperately?)

  6. D

    Did 39 Cross really lose any money here? Zillow says they bought it in 4/2011 for $910K. Looks like the new buyers are the ones getting screwed. I agree with Anonymous, I looked at this place too and wanted to like it, but what really did it for me was no fireplace! (they had removed the above ground pool when I saw it, but that definitely says everything you need to know about Cos Cob). Anyway, I think the sale price is not a reflection on value as much as it is a reflection of the fed’s ZIRP… On a cost of carry-adjusted basis, this says values are down or stagnant.

  7. cos cobber

    Regarding 39 Cross Lane, I believe zillow is wrong about the 2011 transaction, this place last turned over in 2007 or so. At that time the house had been gutted down to the studs and was sold as a gut renovation opportunity. I believe they paid over $1MM. After the renovation was completed, the house was immediately back on the market for something around $1.3MM to $1.5MM (I think) and didnt go anywhere. I’d say its been on the market – off and on – for 3 of the last 4 years.

    With the large lot size you could easily double the size of the house if you wanted while living in the current section. You could also add a real pool too.

    In any event, this 960k price is one of the few transactions in Cos Cob over the past year that cleared at a price lower than I thought it would. The basic colonial w/o no land three houses down the street just sold for 100k more and, again, it has no land, no yard and no chance of expansion.

  8. Anonymous

    it’s an awesome lot, no doubt. huge, wide, and deep.

    as to the sight of the houses to the left, the right, and at the back, well….that’s what leland cypress trees are for….