Two different areas of town, two different results.
33 Highland Farm Rd
33 Highland Farm Road has sold for $6.1 million. That sounds like a lot of money and it is, but it’s a large hit for the seller, who paid $6.9 for it in 2005. He tried for $7.750 back in 2010, pulled it after that didn’t take and brought it back at $6.950 a year ago. Things continue to be slow going for this price range north of the Merritt.
3 Hearthstone Drive
Over in Riverside, however, 3 Hearthstone Drive, $3.125, reports an accepted offer after 28 days. I thought this house was intelligently priced by the agents Russ Pruner and Ken York and the builder, because number 7 Hearthstone, right next door, was built to what I thought was a higher level of finish but was priced at $3.795 when this came on. Figure that number 7 will sell for around $3.4, $3.45 (it’s already dropped to $3.6), then coming in $500,000 lower than 7’s original price opened the door to a broader body of buyers (yes, two puns in one this morning – bonus!) and, assuming the normal negotiation process, that $500,000 – perhaps $400,000 difference will remain. Which seems about right.
With Highland, maybe the public doesn’t go for bush anymore.
Seems like the house needs a Brazilian.
I wouldn’t think you would call a 800k hit on 6.9MM a big hit, and what is that about 10k/month? Reasonable rent.
I think we have to leave Chris alone. He grew up in Riverside, still lives there, and finds it hard to see value or opportunity in any other part of town.
?
Riverside sucks
Thank you for your intelligent insight.
http://www.darientimes.com/24757/superintendent-falcone-resigns-effective-today/
OT: Seems we are not the only town with Superintendent issues. Anyone know the story in Darien?
He got caught under funding (staffing?) special education classes.
McCullough (#3) was never known for the quality of his work – he wheels in a box in a day and finishes it and sells them every time. He’s got a formula and it works. O Malley (#7) on the other hand, will always give you quality but you normally pay $500K extra for that – because he’s spent the extra money.
OT, Greenwich Fine Props – just folded into Coldwell Banker.
Didn’t a few of the GFP employees jump ship to Houlihan Lawrence too?
Yeah, apparently it was being very badly managed so HL offered some a signing bonus and they jumped, same as a couple of others from Sothebys.
Yep
Ours jumped from Sotheby’s too
Tough to compete with Joey B I suppose.
Craftsmanship is one difference between #3 and #7, but layout is another significant difference. #3 has the better layout.
Problem is, they won’t sell for 4 million the next go round.
Even in 10 years.
Buyers will be lucky to get their money back.
But 10 years of mortgage payments should allow for some equity to be established.
Should be enough to get their down payment back, pay the realtors, and plunk down for the next.
I guess if you can afford the payments, go for it!
3 Hearthstone was a collaboration with Ed overseeing and us doing the design and upgrade work including Wheelock Maidique kitchen, Porcelanosa baths and outdoor patio with built in grill etc.
The six year letter is a state law and the building department is obligated by law to give it out. It essentially states that any homeowner who lives with a non-permitted modification without notice from zoning or the town automatically get’s a CO for said change.
I bought a house that required a six year letter in order to close an open permit. I also sold a house in Greenwich where I didn’t get permits for work done and no one asked me to sign anything to this effect.
It’s an interesting strategy to open a permit and never close it for six years and just get a letter.
Ah – I wasn’t absolutely certain of my facts and didn’t want to give out erroneous information; thank you for your clearing that up.