A final shot of real estate news for the day: price cuts

Five of ’em

31 Chapel Lane

31 Chapel Lane

31 Chapel Lane, Riverside (and when have you seen a price cut in Riverside? Must be serious), from $2.295 then, $1.995 now. Sold for $2.270 in 2004. I’ve somehow missed seeing this house, but Chapel’s a decent street, albeit with noise.

5 Knollwood

5 Knollwood

5 Knollwood sold for $2.850 million in 2006, asked $3.995 million back in May, wants $3.195 today. There were some improvements made after that 2004 purchase, so even at full price, this won’t be much of a home run.

15 Reynwood

15 Reynwood

15 Reynwood is now at $13.750 million after being for sale since 2007 (!), when it asked $23.9 million. Still offering a mere 2% commission which might have made sense when its deluded owner thought he’d be getting $24 million, but after all these years he’s going to need the cooperation of every agent in town to find a buyer for a property no one has wanted in six long years.

122 Clapboard Ridge

122 Clapboard Ridge

122 Clapboard Ridge will accept $3.6 million. The listing says it was built in 1998, in which case its caveat “as is” seems odd – can a house really deteriorate that much, so badly, in such a short time? Doesn’t inspire much confidence in the builder, certainly. Judging from its mortgage debt, there are a couple of lenders out there who’d heave a sigh of relief if this fetches anything close to this price. On the other hand, who knows disappointment better than banks, these days?

Fortunately, salt water melts snow

Fortunately, salt water melts snow

And over in Byram, 3 Gamecock has not actually reduced its price, it’s just back on the market at exactly the price; $1.150 million, it’s been seeking since 2010. That s, however, an improvement from its first price of $1.498 in 2009. Four years, no buyer, and now FEMA flood zone regulations – bad combination.

14 Comments

Filed under Buying/Selling Greenwich Real Estate, pricing

14 responses to “A final shot of real estate news for the day: price cuts

  1. Yardbird

    Price cuts in Riverside, on the water..may be a FEMA issue!!

    • anon

      Suspect it has more to do with the amount of work needed. (Saw it, took a pass b/c we have three young kids.)

      • anonymous

        Chapel is a great house. A family raised their 3 young kids in it to become teenagers. They simply moved out of town. Has nothing to do with FEMA or anything else. You people sure are picky!

        • anon

          …And apparently did nothing to it since they moved in. I’m sorry, but the dated tile flooring all over the first floor, and the 90s kitchen screamed “$$$project” to me. Never mind the ancient windows and the chipping paint (lead?). The garage was a knock-down when we looked at this house and since it’s on the property line you can’t just scrape and rebuild (setbacks). I feel for the owners b/c they bought it at a high price in a seller’s market, but they could have kept it up better and made some changes before listing it.
          BTW, there’s nothing I hate more as a prospective buyer faced with a $2+ million dollar fixer-upper than being told that the current owners managed to raise a family in it, and it was just fine for them. So what?

        • Cos Cobber

          But the Chapel house does have FEMA concerns – it appears to be right in the new flood zone per the town SLOSH map. Therefore, you’ll never have a workable basement and the mechanicals must be elevated above the base flood elevation – perhaps that has already been done…I havent been in the house myself. Otherwise, I think the place has good curb appeal.

        • anonymous

          Oh anon, get over yourself. If you are looking in the $2 million range in Riverside south of the Post Road, I hate to break it to you, you are going to get a fixer upper. 6 homes in 06878 between $1.9 and $2.1. As absurd as it sounds, that’s where the market is…

          http://www.realtor.com/realestateandhomes-search/06878/price-1900000-2100000

        • anon

          Then have the decency to call this pos what it is: a fixer-upper. What a strange world you people inhabit, getting snotty with others who balk at paying $2M for something like this. And it’s not so much the insanity of that, but that people like you imply that it should be good enough for likes of me. Take my hard earned money and then insult me. Thanks!

        • anonymous

          Here’s the thing: I said in my first post, it is a great house. My point was and still is, for $2m in Riverside, it’s got a lot of charm and it’s in a good location. It is crazy that we are in a place where that’s what $2m gets you, but those are the facts. So you have “dated tile” and lead paint. The house is more than livable. It’s people like you who give Greenwich a bad name. Amen, Chris. Please, anon, go to Norwalk and get your dream home.

  2. Broker in GWICH

    Riverside blows…with I95 noise, train noise and McDonalds attracting weirdos off Exit 5.

    • Cos Cobber

      I suggest you upgrade your dinning choice. Taco bell is down the street, maybe that is a better fit for you.

  3. Anonymous

    whats going on at 2 Marks Rd with that fence CF , that is around the block from you , no ? They going to be raising some alpacas or something

  4. anonymous

    who is the listing agent on 122 Clpaboard ridge please? Cant find it online. thx

  5. anon

    Chris and Anonymous: It was rude and uncalled for to call the house a “pos”, and I am sorry that I said that. It’s also risky to mix in heavy sarcasm with stupid comments like that, and so I must admit that my comment was a “fail.” However, as a buyer I have to consider how much any house is actually going to cost me, and that includes any work that might need doing, not just the sale price. You can call me a jerk and tell me to move to Norwalk for saying that, but that’s just a fact. The garage is a problem that MUST be dealt with. Without a couple of builders’ quotes provided by the seller, all I could see were a bunch of $zeroes. And it’s not that I don’t think the tile flooring and kitchen are good enough for me, but it’s something I will have to deal with one way or another when it comes time for me to sell a few years from now. And, yes, I really would have to re-do them at that point, south of the Post Road or not. It would also be easier to see the charm that’s actually there with a fresh coat of paint. The house would be really nice all fixed up, and someone will come along that wants to do it. I just didn’t want to take that project on at this time.