16 High Street, Byram, has an accepted offer. Asking $525,000, purchased for $600,000 in 2004. Not every area of town has rebounded from the great crash of ’09.
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i’d say that byram didn’t crash as badly as other areas, so there’s less recovering to do. lot of stable single family properties & 2-family properties. strong rents, good tenants, increasingly improving neighborhood. not a lot of places sell in the area, many go privately and/or quietly.
this area always drops like a rock in hard times,,never holds value
You sound like the father of a carpenter I worked with back in the mid-70s. He was still renting in Byram he told me because in 1965, when he was about to plunk down $15,000 for a house there his father told him, “just wait, prices are gonna drop hard.” Ten years on, he’d missed his chance.
you actually told me this on my one foray into real estate in 2006. Luckily i didnt bite on any of these overpriced places. even a guy in glenville working for att as a lineman his whole life was able to cash out a real dump at 800K then. the market was nuts.
I could not believe a crappy chickahominy cape was selling for 725K.
richer people were getting jumbo loans and simply living free for 5 yrs in their mid-country new built home valued over 1.5 million. they had to get out after 5 yrs of paying interest only for 5 yrs. after 5, the mortgage became unaffordable.
the appreciation in value of 100-200k enabled this. the crash was soon coming and I could see that.
I left town and never looked back. I also recognized then that the public schools were headed in the dumper. stamford and port chester were simply squeezing any goodness left in greenwich.
wjhs has lower scores than bridgeport.
enough writing on the wall. greenwich is becoming like larchmont, mammaroneck, scarsdale, and white plains.
I think better long term deals will be found in darien, ridgefield, weston, westport, and maybe wilton and fairfield.
all your points are valid….if you have kids. if you don’t have kids and don’t care, then it’s totally irrelevant. i’d poke my eyes out before living in fairfield, ridgefield, etc. might as well live outta state.
this blog I read actually means I am looking back…sadly at the sinking titanic or fall of rome..you pick
low end, you literally have no idea what you’re talking about. but that’s ok. stay out. more for me.
What happened with 122 Riverside??
Buyer change of mind. Coming back on. It happens.
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