10 Boyd Lane, that cul du sac off of Riverside Lane north of the Post Road, sold for $2.178. New construction was selling here in NoPo for around $1.8 at the height of the market in 2007 – we’ve exceeded that now. Not my cup of tea, but apparently Cos Cob School is a real draw for some people.
The owners of 47. N. Stanwich Road has been fighting off the foreclosure of at least one, possibly two Washington Mutual mortgages ($1.6, 2004, and an earlier one from 2003 for $921,000, unless it was rolled into the 2004 mortgage – in those days of easy money, probably not), since the beginning of 2012, but a motion for summary judgment hit the docket last week and there seems to be a new seriousness of purpose: it came back on the market in May after expiring unsold in December 2012 and just dropped its price today to $2.399.
That’s still too high, in my opinion, for a so-so 1979 builder’s special in the hinterlands (although it does have Parkway and Central as its school district), but it’s a far sight better than its laughable price of $3.925 million back in 2005, or even the $3.450 the owners were seeking in 2010.
Too bad it took the pending loss of everything to bring reason to this situation, but as Dr. Johnson observed almost 250 years ago, “Depend upon it sir, when a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully.” And so it goes.