Price cut on the water

2 Meadow Place2 Meadow Place, Old Greenwich, down to $3.995 million. The owners paid $3.950 in 2014, so there’s no need for panic, but I wonder whether they’re encountering buyer resistance due to being in the “SLOSH Zone” (no kidding; that’s what our guvmn’t calls it: Sea, Lake, Overland Surge Zone”). According to your friendly rulers, it’s  Lime worst, green bad, yellow, still bad. You wanna stay dry, stay red. On the other hand, I’ve lived in a lime/green zone for decades without incident. It all depends how high your own house is above sea level, regardless of the general zone.

UPDATE: A reader sent along the revised 2013 flood zone map, which I’ll also put on a link, in a minute, showing the various flood zones (VE, AE, etc., which I presume are different from the SURGE zones. In the flood zone map the lime – green color scheme is reversed, with dark green now being the worst and lime being better. That’s confusing. The map below is the 2010 SURGE chart.

Screen Shot 2016-06-29 at 1.33.04 PM

 

10 Comments

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10 responses to “Price cut on the water

  1. Anonymous

    Bad link

  2. Anonymous

    The link is bad. But I would imagine the complete lack of privacy, even by OG standards, hurts at the $4m mark.

  3. Anonymous

    The problem with so many waterfront homes, even this new, is that all built pre-Sandy are now FEMA non-compliant. That really sucks for so many folks who are trying to sell their coastal residences.

  4. Real OG

    The house doesn’t have a garage