Here’s a Ridgefield listing that demonstrates the same illogic that some realtors and sellers in our own town employ. Eighty-eight acres, beautiful views and a 1939 mansion that probably needs work – at least, the listing makes no mention of improvements since its bricks were piled up back there in the Depression. So far so good; this much land with views must be worth something, I guess, even in Ridgefield, but the price history reminds me of some of the bone-headed juggling that goes on here.
It started at $18 million 13 months go and eventually dropped to $11.5 this past July, where it lingered. Yesterday its price was increased to $12.5 and that raises two questions: if the house wouldn’t sell at one price for five months, why would it sell now for a higher price? And why, or more importantly who, would pay an owner $1 million more than he was willing to accept before? The mind boggles.
By the way, $10 million or so for 88 acres strikes me as a pretty good deal. Ridgefield’s a nice town and until the Greenwich back country estates are reassembled ( a topic I’m going to write about soon), pretty much unobtainable here, with the exception of Mel Gibson’s old place, at three times the price.