Sale, accepted offer and new listing

 

828 North Street

828 North Street

The sale is 858 North Street, four beautiful acres across from Conyers Farm, $3 million even. This started at the preposterous price of $6.495 million back in 2008 and had only dropped to $3.750 when it sold. Properties like this are frustrating to buyers and agents, when the real value is so obvious yet the seller refuses to acknowledge it. I had buyers for this land 18 months ago, at $3 million, but the owners wouldn’t budge. The house was empty, so letting it sit vacant for  a year-and-a-half did them no good, but it did deprive them of the opportunity cost of that money. Happens all the time.

3 Marks Road

3 Marks Road

On the other hand, 3 Marks Road, which has an accepted offer just 36 days after hitting the market, did benefit from waiting. I love this house, but when it was listed in 2009 at $2.995 it found no buyers. The owners pulled it after six months and only returned it to the market now, into an entirely different – better – market. I was a little surprised it didn’t sell in 2009, bad market or not; I’m not the least surprised it sold now.

50 Hidden Brook

50 Hidden Brook

50 Hidden Brook Road, Riverside, is the new listing, asking $2.050 million for a half-acre of land (the house is described as “as is”, meaning it’s dumpster fodder). It sold for $1.470 in 2003 and I expect it will sell for close to its asking price now, so in Riverside, the prices that had dropped to 2003 levels in the depths of the crash have now recovered and far exceed their previous highs. 7,000 sq. ft. house possible on this lot so $4 million is probably not unattainable.

13 Comments

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13 responses to “Sale, accepted offer and new listing

  1. Anonymous

    Hidden Brook is the new Bramble. But a much quieter street without the EMS and Riverside school traffic.

  2. Riverside Chick

    39 Hidden Brook , across the street from 50, was just listed as well. Pristine house, beautiful lot , I’m sure will be gone within the month. The brook only runs on one side of the street ( the side 50 is on)- I’ve never heard of problems with it though. There is also a stone cottage (quite charming) at the end of the block where the owner passed away awhile ago and I’m sure will be up for sale as well soon , smaller lot than the other 2.

  3. anon

    39 had multiple offers before it even had an open house, and from what I heard, went to an all-cash offer. The Riverside market is too crazy for buyers like us…

    • Riverside Chick

      Holy Sh!t! Knew it was nice but wow!

      • anon

        It was priced in what appears to be the $2.5-3m sweet spot. May be wise to wait til fall to see what is still on the market, rather than compete with the craziness

  4. The only thing that matters is....

    828 North Street

    good deal?

    • A flat, open four acres, far enough up and away from North Street to be mostly unaffected by traffic noise, not so far from town that it’s a challenge to get there. I don’t know about a bargain, but certainly a reasonable price.

      • Anonymous

        Is the house OK? Looks fine in the pictures. Just goes to show how out of favor back country is. Beautiful land like you said.

        • The house was fine and for all I know the buyers plan to live in it. That’s what my own clients intended. But ultimately, the value lies in the land- another “free house” deal.

  5. I went to a tag sale at 828 North Street, and was impressed by both the land and the house, There’s an older living room/paneled library to the right of the entry, and then modern wings that spread out in all directions: one for the kitchen, one for the large living room/great room, one for the kids’ bedrooms, and one for the master suite. The rear deck is lovely, enclosed on three sides by the various wings, and looking out over the pool and the back forty. Many attractive details throughout. But the tag sale people told me the bulldozers are all lined up waiting to tear it down…sigh.

  6. GreenITCH

    CF I don’t recall seeing you mention 3 Marks Road, coming to market … was this one of ” those ” houses u tried to keep under wraps for clients ? and talking about Riverside , Hidden Brook , Bramble etc ….while not everything has sold ( yet ) near 50 % of Marks road has turned over in the last 18 months ….I guess water views an added perk to all that Riverside has to offer ….