One’s a mystery, one’s approaching a bargain price

37 Fairway

37 Fairway

The mystery house, at least to me, is 37 Fairway Lane, a 1958 bungalow seemingly untouched since it was built. Fairway is nifty little street with some beautiful houses on it; this is not one of them. It sits on an acre, all of it ledge, has no usable yard space at all and the house, while livable, would not be acceptable to most of us. It was priced at $1.195 and as I left it on its open house day I thought that I had finally seen a Greenwich property that had no value, either as land or as shelter.

I was completely wrong: it sold, and within three months, for $1.065. Go figure.

394 Stanwich Rd

394 Stanwich Rd

395 Stanwich Road is the house that, I think, is looking like more and more of a bargain, especially with today’s price cut to $3.950 million. That’s not chump change, but the owners paid $3.7 million for it in 2000 and it still remains at least what it was then: a beautiful 1944 home, on 2.3 acres of great yard, with pond. If, with some negotiation, you can buy a good property in 2013 for a 2000 price, you’d be doing well.

10 Comments

Filed under Buying/Selling Greenwich Real Estate, Mid Country

10 responses to “One’s a mystery, one’s approaching a bargain price

  1. EOSredux

    The Stanwich home is right up my aesthetic alley. I’d redecorate the entire interior – repaint, remove wallpaper and redo the kitchen backsplash tile and see what’s up with the kitchen floor and likely undo the painted pattern) but otherwise, fine fine bones. I’d take this house is a heartbeat. Doesn’t remotely look 8600 square feet either (that’s a compliment).

    Any fish in the pond? And who maintains the pond? More than one homeowner?

    • The pond is in fact Frye “Lake”, a long body of water stretching down to Dingletown Rd. yes, there are fish in it. I don’t think anyone maintains it – it should be large enough to take care of itself, but I stand ready to be corrected.

  2. Anonymous

    You’re missing the point on Fairway. How many homes do you see at this price point in the North Street school district? In this town schools trump everything else…at least below $3m where people still work for a living.

    • I saw the “price point”, I also saw the “house”. I considered it a worthless piece of land but as noted, I was wrong.

      • InfoDiva

        To be honest, Chris, I don’t think you understand mid-country any more than I understand Riverside. It’s just a different aesthetic, that’s all. To each his own.

        • I understand cliff dwellers, though, and they were all extincted by the Spanish conquistadors.
          Seriously: did you see this house? It’s built into a cliff – rock above it, around it, and in front of it. Water flows downhill; this house is downhill.

  3. D

    Wow… someone got hosed… Out of town broker perhaps?

  4. Stanwich

    The Fairway house was a rental for a long time….an utter dump. It is on a nice street, not too far north and at the end of the road. I bet you could build something decent here. Maybe this house is a reach for someone and they actually intend on living here after cleaning up.

  5. Midcountry

    I thought the Fairway house was a good buy. It is a full acre of privacy on a nice quiet street in the North Street school district. There is almost nothing in this price range unless you go into the depths of Cos Cob, and even there very little at this price. I have not seen it, but the buyer could probably add very easily and make it a decent house.

    • Nothing at all wrong with thinking that an acre in mid-country for a million bucks is a good deal, if, as you say, you have not seen it. It’s thinking like that that’s kept the mail-order-bride business in business for hundreds of years, and made millions for Florida swamp land salesmen in the 20s.
      My advice, though, is to take a look at a property before paying its asking price.