Someone’s finally stepped up to the plate

House of Usher

Manderley West

3 Cherry Blossom Lane, an unfinished spec house on the Banksville line asking $3.2 million, reports a pending contract. I’ve lost track of who owns this place – Antares had it, then developer Greg Silver, now maybe the bank? But it was no home run. Back in the day – 2008 – it was listed for $7.995 million, a price that presumably anticipated the house being completed but it didn’t sell, nor was it finished, and it’s been languishing since, through a series of price cuts.

I don’t know whether there’s anything salvageable here after it’s sat empty for six years, but that’s what building engineers are for. I’d always figured the land was worth around $1 million and the house was worth nothing, but I tend to be pessimistic about the value of abandoned houses in far distant locations. Someone has probably disagreed with my assessment, and good for him.

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16 responses to “Someone’s finally stepped up to the plate

    • That’s my man Landon Thomas – he was out here for days, poking around, and this house was just one of the sorry tales he dug up.

      • EOSredux

        If you have his email, a teensy little correction in his article is necessary. He says there was a loan from Wilmington Bank. To the best of my Delaware knowledge (considerable) there is no Wilmington Bank. There was THE bank, Wilmington Trust but it got folded into M&T, and there is a Wilmington Savings Bank, but no Wilmington Bank.

      • NoGolfToday

        Chris,
        You brokered the deal from the fund to baker?
        Interesting…this town is getting smaller and smaller.

      • AJ

        You should email that link to GreenITCH for another one of his/her “but it sold for near asking price” deals.

  1. EOSredux

    I mosied in there just a couple of weeks ago, through the forlorn looking unattended (and unfinished inside) gate house and down around the cul-de-sac to the nice house at the end. The owner of the house across from this one, #4, must be crying his eyes out. Record (maybe not accurate as others reported here that Zillow is often wrong on reporting prices) says it sold for $10.7m in 2007.

    I think Cherry Blossom could have been a nice mini-development, other than its awful name. For now, with the rest of the lots left with red stakes as markers for houses that won’t be built, and the grocery store in Banksville gone, even I think this area has little to offer, except that at $3.2, someone got a whole lot of house for the money and the #4 is very pretty to look at.

  2. AJ

    After sitting empty for six years —

  3. jdg

    I remember visiting a house up here and the broker was calling it the “new round hill” – i.e. a burgeoning prestigious neighborhood. tough sell.

    • EOSredux

      That’s a stretch, although I truly honestly believe that if the town of Banksville were to get its act together and create a small usable village with a Trader Joe in the lot where the old Greenwich Hardware was with a CVS too, the far end of Taconic and North would be an easier sell to those who want land and privacy and aren’t bothered by being in the car.

      • NoGolfToday

        Actually that shopping center is under going a full Renovation.
        It’s taking forever, but someone is putting perfectly good money into a very uncertain investment.

        • EOSredux

          The reno IS taking forever, so long I figured they ran out of money or stopped until they could find a tenant for the former IGA space. The other little shops are individually fine and have a regular clientele but that gigantic space up the street where the hardware store was is primo primo for something to draw people beyond the pizza, bank, and pharmacy. The old gas station is forever doomed to be undeveloped, long ago polluted to the point of no return.

    • Funny – I wonder if that broker was “Mike”, who’s got her knickers knotted over my refusal to use such blatantly untruthful terms?

      • housecat

        I’m not sure what all the fuss is about. A bunch of realtors getting pissy over nicknaming Round Hill road “Rogue’s Hill” seems childish and rather stupid. Fact: the Raj-er, Walt-boy, and the would-be wife killer (forget his name) all have/had houses there. And they aren’t the only ones who’ve had some, ahem, legal difficulties either. Who cares? Everyone is either wearing orange or annoying their neighbors in the Caribbean for the forseeable future, right?

  4. NoGolfToday

    Did Jordan Belfort ever make an appearance ?