11 Steep Hollow sells

11 Steep Hollow Road

11 Steep Hollow Road

By far the largest numbers of transactions being reported lately are rentals (I’ll pull the statistics for the month and get some exact numbers, but it’s very interesting), but 11 Steep Hollow Road (off Cognewaugh) reports a sale price of $1.150 million on a $1.349 ask. That’s just about exactly where customers I showed this to back last fall thought it should land, and I agreed. Looks like the owner did too.

This sold back in 2000 for $1.145 million and the buyer put some money into landscaping and put it back in the market in 2007 at $1.949. That was never going to happen and in 2008 it was rented out, and stayed rented until this past year. Time and tenants weren’t kind to the property and it needed a complete refit, from new kitchen and baths to walls shifted and probably a new roof and windows.

While the land is mostly swamp, there’s a large, dry side yard that accommodates the septic field below and a great pool and courtyard in back that absolutely comes alive in spring (with flowers, not just biting bugs). This will once again be a very pretty house when its restored, and at this price, there should be money to do that.


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4 responses to “11 Steep Hollow sells

  1. Anonymous

    That’s bc it’s not only a real challenge to get a loan, it’s mucho expensive.
    30% down on homes that have appreciated in a LOW DOWN PAYMENT WORLD.
    There’s a disconnect there, for the last two years investors and a select few AAA rated worthy borrowers are driving the low end of the market in terms of sales. Investors are cashing in, and wanna be’s are heading up to Fairfield where only FHA can make their “dreams come true”

    How’s 18 Watchtower Lane?
    Any action, or is 1m the investor limit for maximing rental return!?
    Chris, can’t you just buy ammo online?
    My buddy at Clarke Arms is making a killing doing just that (on the sales side).
    I don’t know the laws, and don’t have a gun, but lately there’s a few id love to pick off.

    • You now need a pistol permit (or an “ammo permit”, which is just as difficult t get as a pistol permit) to have ammunition shipped to you in CT. I have a permit – I strongly recommend that everyone get one now, before they’re impossible to get. And then go out and buy tons of ammunition.

      • Anonymous

        Meant to say 8 Watchtower Lane

      • Anonymous

        Or become a Florida resident, where one can till buy ammo unmolested. We have such a large supply of ammo (mostly shotgun shells) in our garage that if we ever had a fire the whole neighborhood would explode. Greenwich Old Timer