A couple of sales reported

163 Clapboard Ridge Road

163 Clapboard Ridge Road

163 Clapboard Ridge Road, $2,379 million, on an ask of $3.350. Perhaps the listing broker (Ogilvy) used Zillow to set that price because their “Zestimate” is $3,296, 675. Owners paid $1.778 for it in 1992, so I suspect all the renovation they did to it in 2012 turned out to be a gift to the buyers.

If you like this style, and I do, I think the buyers got a great deal.

11 Stoney Ridge Lane

11 Stoney Ridge Lane

11 Stoney Ridge Lane, Riverside, sold for $2.145 million, after selling for $2.2 in 2011.

26 Comments

Filed under Uncategorized

26 responses to “A couple of sales reported

  1. AJ

    I see a red door and I want it painted black.

  2. Anonymous

    Funny even in Riverside the market appears to be slowing down. I thought the market was generically higher than 2011. House seems OK.

  3. James

    I think both of these homes could have done better if they priced it right from the beginning.

  4. Anonymous

    Please, let’s not forget that the sellers actually lived in the home and hopefully enjoyed their renovations!

    • Anonymous

      I hope you are kidding. You must be a housewife realtor with a comment like that one. No one enjoys losing money no matter how you try to sugar coat it. Put some lube on that ding dong first pls.

      • James

        I agree with anon. If you are buying a multimillion dollar house and renovate it then there is an emotional return that can offset any price reductions/losses in the future. For people buying in other markets this is not the case but if you can afford to live here AND renovate then some people don’t mind losing money.

        • Anonymous

          Are you f—g kidding me? No wait. I take it back. Let us know how totally awesome it is to lose $$$$ when it’s your turn to sell, and the next batch of Millennial idiots declare your house sub-optimal because they don’t approve of your furniture.

        • Anonymous

          Real estate for decades typcially grew somewhere between the rate of inflation and the treasury yield. And sometimes less. A home was a home, not an investment to be flipped. An “investment” in the home was an upgrade, and maybe you’d get your money back eventually. Or maybe not. It was an investment in quality of life. If you wanted a true RE investment, you bought a commercial property with rental units and rented them, or a true commercial/mixed use property for commercial tenants.

          This process created massive stability in the economy. It kept homes aligned with income. Of course there were always geographical outliers, but overall the trend was one of stability and affordability.

          It’s sad to see how things have changed, along with the mentality of the homebuying public.

    • That’s a good point, one that I’ve often made here over the years. Renovate for your family’s sake, but not with an eye for making it back.

  5. Anonymous

    Clapboard Ridge home is beautiful. The Riverside house looks like a double decker bus.

  6. Anonymous

    I don’t care for either of these houses but I think the buyer of Clapboard got a good value.

  7. Anonymous

    I’m actually not a house wife realtor but probably just making a rationalization since I live in back country and renovated a home that I have lived in for quite some time. I’m not going to loose money but won’t make as much as I would have if I had sold 5 or 6 years ago. Timing is everything!

  8. Anonymous

    Clapboard – 3 bed, 5 bath. Now that’s an interesting decision for a large family home. Riverside one can only assume was v tired inside given the lack of indoor photos as opposed to the vast array of similar outdoor photos

    • New to Riverside

      Yes, very tired, I passed on it — small closets, glorified galley kitchen, boxy, no backyard, and just old and frumpy. The house was worth $2.1, I wouldn’t chalk it up to a Riverside decline.

  9. Anonymous

    The Clapboard Ridge home was an awesome deal. It has got to be about land value plus it has a nice, well-kept house on it. As someone above pointed out, 4600 sf and only 3 BRs is an interesting combination, so it’s not for everyone, but a great deal for whoever bought it.

    A while ago there was a story published on this blog 32 Grahampton. That one sold in the mid- to low-$2’s, and despite being a very well-maintained home, it has been leveled. Wonder if that is the fate for this house.

    In terms of Stoney Ridge, this too looks like quite the buy compared to the 25 Lockwood sale for a ridiculous $4.1m!