Well someone’s got to live in Glenville

18 Greyrock (2002 photo)

18 Grey Rock (2009 photo)

18 Grey Rock is new today, asking $785,000. The owners paid $820,000 for it in 2005, did a lot of renovating and tried for $1.025 in 2008, not a good year for asking that much for this location. But Grey Rock is a good street, fine neighborhood and this looks like a sensible price. I look forward to seeing the house itself.

7 Comments

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7 responses to “Well someone’s got to live in Glenville

  1. Stanwich

    For this price you could live in the Havemayer section of OG. I would chose that over Glenville.

    • Depends on the condition of the house. This money would get you a fixer-upper in Havemeyer whereas this one sounds as though it’s been fixed up already. On the other hand, it wouldn’t be too hard to push a Havemeyer fixer-upper up to, say, $950, so the up-side’s probably better. But see the heading to this post.

  2. Anonymous

    what would a house like this rent for – is there an investor play for something like this?

  3. anon

    first time I’ve see this in a listing:

    GENERATOR EXCLUDED.

    • I laughed at that too, but I see it all the time – $750,000 or $7.5 million, sellers exclude things that make me scratch my head. I understand items of sentimental value – even wall sconces that were bought on a honeymoon with the third wife in Hong Kong, say, but it’d be smarter, I think, to replace those items with new ones before showing the house for the first time. Then there’s no issue, and you the seller don’t look like Scrooge McDuck.

      • anon

        So this must not be a whole house generator, just one of those plug in portable types? If so, why not just remove it and never make it an item of discussion? Just say “generator hookup” ready for your new Briggs and Stratton 8000 watt.

  4. Walt

    Dude –
    What fascinates me about your “profession” is all of you love numbers, and statistics, but you just make stuff up, and pull numbers out of your ass. Just like Bernie!!

    Like “Days on Market”. Or DOM. It took me a while to figure out that wasn’t a kinky sex thing. But you guys basically just relist whenever you want, and render that one totally useless, right?

    And you all value cost per SQF, right? As far as I can tell, that is like the Kate Upton benchmark of dirt value, right? But you all compute it a different way. Basement or no basement? And you IGNORE LAND!! Making it totally useless, correct? Which, because you, as a profession, add no value, I suspect that is the ENTIRE POINT!! I spent my whole “career” playing that game.

    Anyhows, why not break the dirt AND the house down into total SQF? Then multiply the land by 3X, and add the house SQF and do a gazinta into total asking price? This values the land more, which makes sense, and gives you a total cost for house and dirt. Then. THEN ADD TAXES!! Why not do that? You are buying the whole pig, not just a part of it. This formula may be too complex for you, but that is the beauty of it all!! It is “((Asking Price)/((Dirt SQFx3)+(House SQF)-Taxes).”

    Then you have a benchmark, and you can figure out the cost of living in fringe neighborhoods like Glenville or Cos Cob, or in the nice parts of Greenwich, where the real natives live. THAT WOULD BE USEFUL!!

    We can call this new benchmark the FART. I know you guys like acronyms to look professional and to confuse your pigeon….to confuse your clients. FART stands for “Fountains Assessed Residential Test™”

    We can charge for it!! Just like house inspections, which are totally rigged. I am liking this idea Dude.

    What do you think? To honest?
    Your Pal,
    Walt