Daily Archives: December 5, 2014

And sometimes, you just have to keep cutting the price

19 Desiree Drive

19 Desiree Drive

19 Desiree Drive, off Stanwich, is now asking $3.995 million, down from yesterday’s price of $4.150 and down considerably from the $5.595 it asked for in 2008-2009. It’s not my cup of tea, but it is a perfectly decent house, and there’s a lot of it for this price. Owners paid $4.9 million for it in 2004, when it was new.Its value was probably hurt when another spec house next door, number 21, came on in 2005 for $5.950 and finally sold in 2010 for $3.715. Confidence is everything in this game.

 

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Sometimes, a little imagination and a bit of cash is all you need

5 Keofferam

5 Keofferam

I loved 5 Keofferam Road back when it was listed for sale in 2012 for $3.495, and I puzzled, several times over the ensuing months, why it wouldn’t sell. It finally did, a year later, for $3.030 million, and the new owners added a smallish, 500 sq. ft. addition that seemed to answer other buyers’ reservations,  and put it back up for sale less than a year later for $3.525. It went immediately into a bidding war and closed today, for $3.565 million.

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Foreclosure property

160 Bedford Rd

160 Bedford Rd

160 Bedford Road is back on the market, now asking $2.6 million, “subject to bank approval”. This was a gorgeous home on eight acres back when it sold in 2007 for $3.6 million but it’s deteriorated since, to the point that it’s now described as “sold as is”. Last time I saw it, some years ago, I was greeted by a goose in diapers – no kidding – and the house I’d liked so much originally was pretty much just a tear-down. Such a pity.

Typical of the 2007 period, the loan history on this is instructive: The owners paid $3.6 million and took out three separate mortgages in the amounts of $2.640, $106,000 and $300,000, all within two months. Our financial crisis illustrated, in one property.

I note from the court records that Attorney Burt Hoffman has been representing the owners, which means I won’t waste my time on this one. Just as nothing good ever happens after midnight, I’ve never seen a short sale or any kind of distressed property go through Mr. Hoffman’s office without a great wailing and gnashing of teeth among all participants except Mr. Hoffman himself. Better to have stood in bed.

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Rolling Stone: UVA rape story was a hoax

Retracts the article and its allegations. Women who, in the future, will find their accusations of rape disbelieved, their experience belittled, should be furious.

Details on the story, and its dubious claims, were discussed here, earlier this week

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It’s nice to wake up to a cheery headline

I hear this big, sucking sound, coming from the bayou

I keep hearing this big, sucking sound, coming from the bayou

NYT: Landrieu’s support “has eroded like a cheap levee.” 

Ms. Landrieu’s appearance in Hammond underscored the fealty she still commands in some quarters: The crowd was thick with local officials who testified that the federal money she delivered helped build the local airport’s control tower and improve the local wastewater system.

But for many voters, those achievements are not as important as the damage that they believe the Democratic Party is doing in Washington.

The last sentence says it all.

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If alcohol abuse is a symptom, then this is a symptom of a symptom

Lower West Side: bad day for this banker

Lower West Side: bad day for this banker

Greenwich physicians inaugurate mobile hangover recovery service.

Josh Shajan and Steven Murphy, are launching a new business, HungoverMD, on Jan. 1. That morning — America’s top hangover holiday — the duo will begin making house calls to hook up patients to IVs in an effort to rehydrate, effectively eliminating the fatigue, nausea and headaches that come with too many cocktails.

“It’s like Uber for IVs,” Murphy offered earlier this week, while sitting at Greenwich Hospital’s Garden Cafe.

Rehydrating intravenously is something Murphy, Shajan and plenty of doctors throughout the world are familiar with. But by setting up a service that offers both pre-scheduled and on-demand appointments, they’re aggressively targeting a new market.

A bit of market research showed there are a few services like this scattered around the country, in markets like Las Vegas, but that hedge-fund-heavy Greenwich didn’t have anything to fill the niche for what Murphy said is a demographic in need of this kind of service.

“We think our clients are mostly going to be hard-working young professionals,” Shajan said. “Anywhere from 21 years old to your mid-40s is probably the target demographic — anyone who’s adopted the work-hard, play-hard lifestyle, which is a good number of people here. People on trading desks, financial professionals, you know.”

It’s none of my business, but if you find yourself on a first-name-basis with your Uber IV tech, if he can find his way to your house without directions, you might want to look at your lifestyle.

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