Nine days, full price

18 Highview

18 Highview Avenue

18 Highview Avenue, Old Greenwich, asked $2.050 million, got $2.050. When you price your house right, buyers usually have very little negotiating room, because there’s someone behind them ready to step up.

Just as an aside, this same house tried and failed to sell at $2.1 in 2008 – bad market back then.

57 Comments

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57 responses to “Nine days, full price

  1. Anonymous

    Gleaming, well kept. Good street. Lots to like here.

  2. Upperwestsider

    How much does this imply the lot is worth? 1.5MM? Surely this house is worth 500k basically anywhere else?

  3. Anonymous

    This will look like a bad buy quite soon.

  4. Anonymous

    I very much doubt that .28 acres in this location is worth 1.5. But maybe

  5. Anonymous

    Nothing about this home wows me. Seems a bit of a stretch for 2m.

  6. Anonymous

    and I think it looks like great value

  7. Anonymous

    sometimes you can totally tell on this blog who the buyers are and who the owners are

  8. Chicken Parm from Rinaldi's

    I’m neither. And I think 2m is about right.
    Kids can play, whoever is getting the bill can walk to the train, and kids can walk to OG school/town.
    Quiet ish street, 1.7 miles Tod’s, far too far for the waves to travel.
    What’s not to love?

  9. Matt

    Great location and it backs up to Innis Arden.

  10. Anonymous

    2M- Too high but that is only my opinion

  11. Anonymous

    But its only clear that it’s properly priced in hindsight. It could also be said that if a house is lucky enough to have multiple bidders the price is magically ‘correct.’

    Markets are often complicated things.

    • Mickster

      The local RE market runs fairly smoothly, following the laws of supply and demand. People are complicated.
      I suspect one of the reasons this went so quickly is that we had very few nice houses in OG/Riv at that time. 24 Meadow went around the same time and often that motivates other buyers to pull the trigger.
      I remember back about 10 years ago I had a client on (street name redacted) that tried for ever to sell their home with another broker and failed. They called me and then went off on vacation to Turkey for a few weeks. While they were away I realized there was NOTHING on the market in this price range in Riverside, nothing. I called them immediately and faxed them listing agreement etc. I had it sold in weeks. And it was a POS. So timing matters.

    • Well yes on both points. We can make best guesses, but it’s ultimately the buyer who decides the right price. The hope for a seller and her agent is that they’ve placed it where it ought to be, but if not, better, I think, to take some rapid price cuts than stand fast and hope that someone who “gets it” will show up – they usually don’t.

      • Anonymous

        CF, I appreciate your humility. Very few in your business would admit that valuation is a best guess, or is it at best, a guess?

        We spent the better part of a decade looking for a house in the area, mainly because we’re not from around here and couldn’t decide on a location. We oscillated between OG, Riverside, Rye, Scarsdale and a few other Westchester towns with good schools.

        On more than one occasion, we were told that a house would sell quickly, near ask. It rarely happened. One infamous broker, who earned the nickname The Maven, lectured us about a particular house that we had bid 20% below. We were told in a very stern voice that we were “off market.” I looked over both shoulders and seeing no one behind me, I told the broker that I WAS the market.

        Net, net, almost two years have passed and it is now listed just about at my initial bid. The house has been mainly empty because the family moved to a bigger house in town so they’ll be worse off for having not jumped the spread. From my perspective, my (ex) broker nearly cost me a tidy six figure amount.

        Of course there are also a few stories in which I was also cynical and the house traded at a high price, fairly quickly.

        I guess the point is that all it takes is one and if you have that one, you can look pretty smart. And of course, if you are fortunate enough to have two, then you’re brilliant. But in the end, it’s a matter of luck more than a rigorous quantitative exercise.

      • GreenITCH

        Sounds like you and Gideon went to two different schools of Real Estate !

      • Mid-Country Cos Cobber

        I love it when I had a broker that refused to submit a low ball offer, as she didnt want to insult her friend (the listing agent). Bye bye broker. As a buyer *all* I care about is the right house at the right price. I dont care if the seller is screaming and yelling at my offer ……

        • Anonymous

          Buyers seem to forget that a successful negotiation requires compromise on both sides – assuming they even knew this in the first place. Hitting your counterpart with a low ball offer just so you can play the big swinging dick say does nothing but declare that you’re probably not worth trying to work out a deal with. Because you’ve just made it very clear that you’re more interested in screwing the seller over than in doing that. As for “hurting feelings”, I agree that’s ridiculous. My feelings aren’t hurt when some wannabe big shot comes in with a low ball offer. I know exactly who I’m dealing – or not dealing with. Thanks for the tell.

        • Anonymous

          This is a reply to the reply to this post – there wasn’t a link to directly reply to it.

          Low ball offer? Haha. That’s a hoot!

          Maybe “low ball” or maybe the broker is too puffed up with their own ego.

          Please think back to 08 & 09. The housing market was crushed in terms of price and volume, but I’m sure you were the exception, who wasn’t affected at all and barely noticed whatever it was that was happening to the mere mortals of the world.

          Just because rates have been too low for too too long, don’t overestimate your abilities. When the tide goes out … the world will get a lot more interesting (and realistic).

          All too often those low ball offers are reality on homes, which was CF’s point – adjust your price, don’t be hoity-toity or a crybaby. I “low balled” and it’s two years later and the they’re asking for what I was offering.

          And if you were a tad smarter and industrious you would sincerely thank the “low ball” because now you can go run to the highest hill and tell everyone that there’s an offer on your “exceptional” listing. But, I’m sorry, is this too much work for your two and a half percent? You’re more entitled than a Madoff scion.

          Of course, if it’s crickets after the “low ball” then the jerky buyer is probably more right than you are.

          Btw – if you’re “not dealing” with the bid because it bruises your ego, you’re actually breaking the law – you know, that thing that applies to the little people who aren’t as special as you. That’s the funniest thing about real estate brokers – tons of shady shit with no consequences. The only fiducial responsibility is the one between the broker and their bank account.

        • Anonymous

          Yes the market was crushed in ’08 and ’09. What year is it now? Have housing prices gone back to their previous highs? In many cases, no. But quite a few buyers seem to be clinging to the notion that they can still party like it’s 2009. As for the rest of your response, go back and read my comment again. You missed the point multiple times. In any case, I was responding to a different post, not your original one at 6:32, in which you managed to make a rational argument.
          You also said that no one gets it right all the time, including you. If the house has been on for a short time, a seller has no way to know for certain if a low bid (wouldn’t want to offend your delicate sensibilities again) is evidence of bottom-trawling or actually reflective of market value. At this point, some sellers might say ‘to hell with it’ and get out, but others won’t. If the house remains on the market and eventually comes down to that offer, then hooray for the low offer guy – he’s a genius. If it sells though, then what? Do we hear from the genius then? Of course not. I didn’t say we wouldn’t deal with a low offerer full-stop. But I know from experience that we can expect a lengthy, painful, and most-likely fruitless negotiation to ensue. Again, I wasn’t responding to your comment, but the one which bragged about not caring how much he made the sellers scream.
          PS I’m not a broker.

          • I’ve passed on many a low bid in my time, always based on what my client and I think is actual fair value, and I’ve seen plenty of those bids, rejected, later look better than the actual selling price by a large margin. Yes, there are unrealistic bids, and I discourage my clients against making them, but there are far more wildly over-priced homes out there occupied by deluded sellers than there are mean-spirited buyers trying “to steal my house”.

  12. Anonymous

    Boy this sales price is all about location because its a real dud in everything but the landscaping.

    • Anonymous

      It’s not a dud (I’ve spent a lot of time in it – not these owners different renters) but it was tired 4 years ago & they haven’t done anything to it that I can see. It’s def because in this price range (mine) there is sod all out there.

  13. Westside

    Methinks the buyer of 444 Riversville Rd (similar price) is perchance a little smarter…?

    • Anonymous

      Or perhaps his wife isn’t as fixated on OG/Riverside as is the other wife. Seriously, I know of families where the wife doesn’t want Greenwich because she wants to see other moms at dropout and pickup, if not in between, and they see Greenwich as too isolating.

      • High and Dry in Riverside

        You know something – you are so right! There is such a great sense of neighborhood when you bump into other Moms at pickup and dropoff at OG or Riverside. I see that camaraderie all the time. Moms leaving NYC need that.

      • Anonymous

        Do children teleport to school in Greenwich?

        • GreenITCH

          No but since everyone is driving 20 minutes back home there is a different feel to It … as well when u need something from the grocery store etc … it is just a matter of convenience .. trust me , id rather more house for my $$ but wife insist on neighborhood and convenience

        • Anonymous

          Almost no one lives 20 minutes from a school in Greenwich. Particularly privates.

        • Anonymous

          They take the bus or are driven in a car to drop-off. There is no opportunity for interaction because parents cannot get out of the car. Pull up, open the back door, kiss the kid, someone closes the door, and you have to leave to make room for the next set of cars.

  14. Guest

    Looks like a nice house. Pretty big for OG. Really short walk to the train, elementary school and town of OG. Nice front porch. Backs on golf course so some privacy and space in the back. Could change some of the windows in the back- maybe make them floor length to open the room(s) up or otherwise modernize them. Other than that, house looks very nice to me, and can see why it would be around $2 million. Not an OG/ Riverside resident myself.

  15. Walt

    Dude –

    I think it’s way overpriced. Why would you cretins want an overpriced postage stamp lot, when you can buy 444 Riversville at almost the same price?

    But that is not what I came here to say. I just threw in a dirt comment to GET TO MY REAL POINT!! ARE YOU AWAKE DUDE? WHO CARES ABOUT DIRT? Are you going to post anything on this Freddie Grey trial in Baltimore? Something which has wide spread ramifications for us all. We need to wake up. WELL I CAN’T WAIT FOR YOU TO AWAKE!! Awoken? Wake up? I need to get this off my chest!!

    What is happening in Baltimore IS A NATIONAl DISGRACE!! You have Black Lies Matter, the sturmabteilung of the “progressives” calling the cops racist. PLUS THEY SPELL GREY WRONG!! BUT HOW IS THIS RACIST?

    Baltimore is 80% black. It has been run by black “progressive” Democrats FOR YEARS!! The Mayor is black, the chief prosecutor is black, the Police Chief was black, the majority of the Police Force is black, and half of the officers charged, ARE BLACK!! So how is this a “racist crime” and whites against blacks? IT MAKES NO SENSE!! And the government trumping up charges, and using mob rule to try and use lynch mob mentality to deploy “justice”. We are becoming a lawless society.

    It is the MSM and political correctness. And political correctness is domestic terrorism, and will destroy this nation. It makes people fearful to address and deal with the FUNDAMENTAL PROBLEMS!! Which means we will never solve them. So let me just posit this. THANK YOU!!

    The fundamental problem is that white people and black people are different. We differ intellectually and temperamentally. These differences result in permanent social incompatibility.

    All other races are just exhausted with them. They are exhausted by the social pathologies, the violence, the endless complaints, the blind racial solidarity, the bottomless pit of grievances, the excuses, and the reflexive animosity. But no one says it, because of political correctness, and they don’t want to be called a racist.

    The white elite “progressives” explain everything with “racism,” telling us that we just have to try harder. We need more money, more time, more understanding, more programs, more opportunities. “White Privilege” blinds us to this. BULLSHIT I SAY!!

    Nothing changes no matter how much money is spent, no matter how many laws are passed, no matter how many black geniuses are portrayed on TV, and no matter who is president. Some argue it’s a problem of “culture,” as if culture creates people’s behavior instead of the other way around.

    Since 1965, when the “progressive” elites opened America’s doors to the Third World, immigrants from Asia and India–people who are not white, not rich, and not “connected”–have quietly succeeded. While the children of these people are winning spelling bees and getting top scores on the SAT, black “youths” are committing half the country’s violent crime–crime, which includes viciously punching random white people on the street for the thrill of it, Crime that has NOTHING to do with poverty.

    Instead of striving to be an honorable, productive race, blacks seem to want to destroy America through their oppositional attitudes, dependency, criminality and ongoing cultural dysfunction. And what manner of people totally neglect every aspect of home ownership from maintenance to landscaping, and allow total degeneration and destruction of their own neighborhoods? As a seller of dirt, do you understand this?

    With or without racism, blacks are genetically pre-dispositioned to behave and live as they do, and unfortunately that behavior is unacceptable in a modern civilized society. THEY NEED TO DEAL WITH THESE BLACK COMMUNITY ISSUES. Not us. And until they own up to this, the problems will continue.

    I’m truly sorry for what happened a long long time ago, but you just can’t keep acting like I’m the person that did it, and you’re the person it was done to. As long as you insist on living in the past the past, this will never end. You have to move forward, not look back.

    And I don’t think that is racist in the least. I think its honest. But it is politically incorrect. I want blacks to succeed, but they have to take some initiative, not destroy, and blame everyone but themselves. The opportunities are there. They have to take seize them, and not expect handouts. The Micks did it. The Wop’s, PR’s, Jews, and all the other non Waspy Wasps as well. Why can’t they?

    We have a black POTUS. Albeit a shitty one. Shouldn’t that prove my point?
    Thank you. Get back to discussing kitchen windows and dining rooms. Sorry for the interruption.

    Your Pal,
    Walt
    PS – this is a thesis. Not a screed.

  16. Anonymous

    Walt,
    While I value your contribution to this blog your comments on Race lack perspective. All of this – high proportion of crime committed by blacks, teen pregnancy rates, unemployment, etc. Is rooted in the lack of quality early and secondary education. In many urban areas there is just not the opportunity or support to build a good foundation to function in the world we live in.

    Charter schools like Harlem success have helped this but until the opportunity is there more broadky this won’t change.

    • Anon

      I disagree. Money has been poured into inner city schools but black students continue to fail. It’s their lack of a family unit that prevents so many blacks from succeeding. Even if there’s no father, many young blacks get support from a strong mother or grandmother, but that’s harder and harder to find. More money is not the answer. The hope of the next generation of blacks has to come from within their race. THEY have to see they are falling farther and farther behind.

  17. Anonymous

    It’s cultural, not genetic.

  18. Anonymous

    2 Highview sold for 1,225,000 and is headed for a landfill