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Showing posts from 2011

Trulia - Not so True - but still MAGNIFICENT!

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When I recently went onto the Trulia site, I was intrigued by yet another falsity. There in the middle of the page was a teaser to browse Greenwich's most expensive homes. Listed at #1 was a beautiful home for $25.5M. If you sell real estate  in Greenwich, you know without even thinking for a second that there are many more homes that are currently listed for more. One being the estate formerly owned by Leona Helmsley for $42M, another on John St for $45M The home that was featured at #1 is actually in Fairfield, CT - still in Fairfield county - for those of you not familiar with the area - but Fairfield certainly does not have the same land value as Greenwich. The home is listed on the Greenwich MLS - of course to get the appropriate audience for a luxury home. Located on 11 acres with 450" of shoreline - this architectural beauty  has total privacy bordering Southport. 1131 Sasco Hill - Fairfield, CT Gourmet Kitchen  Assessed at  $16,306,320 taxes $366,000 - 6 b

REDUCED - 78 Baldwin Farms South - Greenwich

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78 Baldwin Farms South Just reduced from $3,895,000 to $3,645,000 - getting closer to reality Assessed at under $2M on 2 level acres 5 Bedrooms - 4+ baths Gracious tree lined drive Heated pool with automatic cover  Gourmet Kitchen Exterior Front Family Room Great family living - comfortable, inviting and great flow. With all the improvements, what's missing is a finished basement - which may not have been part of the plan, since the new FAR requirements would exclude the area, since the lower space is entirely below ground level. Still a beautiful family home.

2 Acres in 1 Acre Zoning - 112/106 Indian Head - Riverside, CT

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OK so the new owner(s) may want to update a few things in this classic New England home. Considering the acreage/zoning, it is a unique situation. Just listed for $5,950,000, it had been on the market for over $7M in 2010. Reality has no doubt sunk in, as well as perhaps a comparable strategy that was used to market 9 Bayberry Lane - which was listed at $5.7M and sold for $6.2M. We'll see...

190 Clapboard RIdge - SOLD!

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283 days after it was listed...From $3,425,000 to $3,895,000 - it sold this week for $2,850,000. In Kahkum Woods - so this is where the use of  "Parklike" in our MLS fillable fields comes from...  There are approvals for 10,000+ SF FAR - so it's likely that the existing home will either be razed or there will be a significant addition. 190 Clapboard Ridge Road Down by the river I can ehar Neil singing.....

Freddie Freddie Freddie

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Back and forth and back and forth - the latest headline in LinkedIn Real Estate headlines states:  Freddie Mac Ready for Growth in Housing Markets Really?  9.1% unemployment Consumer confidence is still low Home values are down - still making people feel poor or poorer Mortgage rates are low - but who's lending? The headlines on Linked In below indicate that not only is the market uncertain, the viewpoints are as well. One day optimism, next day gloom. Freddie Mac's Nothaft pegs mortgage rates at less than 5% through 2011 Freddie Mac says rising mortgage rates won't stop the housing recovery in 2011 Freddie Mac averages 15 months to foreclose NAHB: Housing starts to grow 21% in 2011

Zsa Zsa to Ga Ga

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Pop icons change, but real estate is always real...it is what the market will bear - regardless of anything else. Zsa Zsa's 6700 SF Bel Air  home is on the market for $15m.  The views apparently are amazing.  Earlier, her husband had indicated that he wanted to list it for $28m, to help defer the high cost of caring for his wife who is in poor health and has been for years.  8 Husbands ago,  Zsa Zsa married her 9th - that was 25 years ago, with a pre-nup. Now the heirs are questioning whether he had the right to list the home at all. Nonetheless, it went on the MLS yesterday. Zsa Zsa's home built in 1955 - $15m Quincy lives next door - FYI...

23 Bailiwick Rd - Greenwich - SOLD - FINALLY! - $1,750,000

I know that it looks like a typo, since it started at $2,995,000 in 2008 then dropped to 2, 895,000, 2,495,000, 1,950,000 which was the last list price....after 1,199 days on market - whew! exhausting...but that's what going on at the moment. This trend is not going away anytime soon. It last sold in 2007 for over 2,700,000 - heartbreaker.

DOOM + GLOOM

Most likely you have heard this before now, but there are some out there with their heads in the sand, or they are thinking that it's not relevant to Greenwich. Think again. Case Shiller indicates that home prices are now 33% below 2006 peak numbers - compared to 31% during the Great Depression! and there are striking similarities. There was a temporary rebound both then and recently, and then prices fell again by 7%. The peak after the Great Depression was not regained for 17 years. Are we more resilient today? We have not yet seen the bottom, and there are economists who are predicting further drops this year through 2012. Paul Dales, US senior economist for Capital Economics indicates another 3% this year. Predicted Drops for 2012 Paul Dales - Capital Economics - 5% Patrick Newport - IHS Global Insight - 5% Devi Aurora - senior director S&P financial institutions - 15% (worse case) And there you have it - want to sell your house?  Price it right, rent it out,

Dog Bless America

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On another subject - we must ALWAYS remember our military guys and gals....and this one is soooo easy! The organization behind this service will provides dogs to post traumatic stress disorder vets.... You just have to “Like”   Dog Bless You on Facebook . From Memorial Day to Independence Day,  Explore.org   will donate a companion or service dog to a war veteran. For every 5,000 “Likes,” the page receives (and for those of you who think this number is high - you haven't discovered the power of the internet).... the organization will provide up to 100 dogs. Did you hear me? IT COSTS YOU NOTHING!

Weekend Acitivity - Greenwich

There had been some activity in the real estate market in Greenwich - not that the Greenwich MLS makes it easy for Mac users to pull photos to make articles more interesting .... but that a whole other story... Here's the re-cap for what happened over the weekend: 6 SOLD transactions: 3 condos (but really 2 (same address) * 77 Havemeyer Lane - both sides * 79 Putnam Park 3 Single Family * 70 Laddins Rock - for $653,500 (LP $725,000!) * 21 Verona Dr. Riverside - for $2,267,500 * 16 Chestnut St Cos Cob - $1,075,000 There are several in contract - executed 6 and 9 others 12 Price Changes 13 New Listings - 6 are rentals - priced from $2,200 - $17,000 On the subject of rentals, in case you have not read the 10 million articles that speak to the popularity of renting at the moment,  owners are being romanced into the rental market.... If you're long on a house that you're not occupying, why not give the carrying costs to someone else? Owners are now asking r

LIGHTEN UP!

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Lies of Omission

I have been absent for a few days, and have been mulling over whether to vent or not  -  Is it ethical to list a single family home but to omit important details from the listing such as 1) the tenant must employ the owner's handyman/gardener for $9000 per year 2) that the owner reserved the right to use the guest cottage for his/his family's personal use?  The home has been on the market for over 300 days, joining the ranks of 120 other homes in Greenwich - so the owner decided to list it for rent - first for $7000, then reduced it to $4500 (with the above mentioned hidden caveats)  I will hand it to the realtor that she disclosed these facts right away in person, however, one had to show up to see the home, before learning of these details - and no doubt this had everything to do with the reason that we saw (3) other parties leave as quickly as they came. You must admit that the reduction sans truths, did get people to show up! But how many people were annoyed in the proc

5 Winterset - SOLD! - Close Price - $2,025,000

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  5 Winterset - Greenwich Family Room Summertime 160 days on market - here are the numbers: 5 Bedrooms 3 Baths 2 Fireplaces Assessed at $1,772,190 Taxes $15,233 Original List Price was $ 2,250.000  Built in 1963, it was renovated in 2000 and is on a beautiful flat lot...someone has found a nice place to hang their hat!

It doesn't always pay to wait!

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Wow! It appears that 66 Binney Lane just rented for $31,625 in a bidding war? Original list was 22,000 per month for a short term rental where it sat waiting for a month when it was reduced to $19,000. So 70 days later - it closed for over $31,000 per month for July and August. 66 Binney Lane It is just a sweet, classic waterfront shore colonial, that no doubt will be enjoyed.

Quick Fix Could Translate to More Money!

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When I visit open houses, one of the things that I often notice, is how outdated they are. Traditional is beautiful, however, tired is not. "Fresh" gives the impression for future home buyers, that you have been caring for your home all along. Granted, if you are selling your home, you do not want to spend lots of money, but when a window is a standard size, you can take the shade with you when you move, or better yet - they may become a point of negotiation.  When I sold my apartment in NYC, I had very inexpensive but dramatic window shades. When I wouldn't lower my price, the perspective buyer negotiated to have the window treatments included in the sale - bingo! Win/Win :-) The Shade Store - Simple - But sometimes simple is great. This site works so well - it is easy, fast, organized, yet you are able to order samples in the tradition of buying window treatments anywhere....check it out! http://www.theshadestore.com There is also a solar section which offers so m

44 Khakum Wood - SOLD!

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After being on and off the market since 2008 with it's present accoutrements - this gorgeous home sold for the most recent list price of $6,595,000 (2/28/2011) There are unique buyers, and this is a unique home.     History: Sold in 1999 for 5,300,000 Active again in 2007 after complete and beautiful restoration for $10,500,000 where it sat until the listing expired in April 2008 Active again in March 2010 - $9,750,000 Reduced in April $8,750,000 Again in August - $7,400,000 Again in February - $6,595,000 Recent List and Close Price - $6,595,000  Here are some numbers: 4 Bedrooms 5 1/2 baths 5 Fireplaces 2.76 acres 7,692 SF

Cool Lighting Fixtures

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These fabulous chandeliers come in 3 sizes - so click on the link - they're on sale from $139 - $189 on www.gilt.com Not your everyday lighting fixture. There is artwork as well as these artful lanterns. Parvez Taj - Artwork   SALE ENDS  05/13 NOON ET

Sexy Aussies Sell Homes - Should we steal a page from their PlayBook?

Epic Home Sale Commercial - Watch more Funny Videos

The Millenials - 80 million strong - GET READY!

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According to Wells Fargo, there are 51.5 million potential first time home bueyrs born between 1979 and 1991. This is approximately 6 + million more than the baby boomers of 1977. This generation is more technology driven, (it seems ridiculous to have to mention this, but I still see some realtors who barely can navigate Outlook), more diverse, and according to a Pew research study, more trusting of institutions. They are basically more optimistic. According to Wells Fargo, more than 70% of those surveyed, still want to own a home, and they optimistically view the more stringent credit requirements as a positive for having the ability to stay in their homes. What should we as realtors do to prepare for the Millenials? Get with the tech program Spruce up your look - you don't have to dress like they do, but get rid of the motif sweaters, and ill-fitting suits and hire a stylist to give recommendations. Or just pick up Bazaar for girls and GQ for guys. Think green - they are

What do you get for a quarter in Greenwich?

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Doughnuts in Banksville, Pemberwick, N.Mianus, Byram  S.Parkway has the most total active listings - 209 as well as the most new listings 48 - and the top sales - $40,027,500 - average list price is 3,672,297 - average sale price 2,859,107 N.Parkway has the highest average list price 4,965,074 and average sale price 5,329,000 with just over half the number of active listings as S.Parkway - 112 vs 209 Riverside came out on top with the % of sale price to list - 95.5% Click on the image to enlarge

Hi to Lo and In Between - Sales in Greenwich this week

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From 10 Boyd Lane Riverside for $562,500 (Orig List $835,000) to 6 West Lane for $7,750,000 (orig list $8,500,000) and in between 12 Chieftans for $2,650,000 (orig llist $2,575,000) . From 1200 Square Feet to 12,000 Square Feet  Hi In Bewteen Lo

Window Cleaning Service

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OK - It's common advice when selling your home.... clean windows give the perception that the home is well maintained. Feng Shui purports that the windows are the eyes of the home....that says a lot. If you're living in your home, everything seems more optimistic if you can see through your windows. Firstly, the grime just reminds us of the hideous winter that we just left behind. But cleaning windows in just a pain in the ass.... There is a new service in  Greenwich that will clean your windows inside and out for $8 - $12 per window. Now that would be the perfect mother's day gift in my opinion! PRISTINE WINDOW CLEANING 914-330-3927 They also clean gutters and powerwash!

Good Luck Charms for Selling Real Estate

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After hearing homes sales news today, we will need a little luck and prayer for the real estate market to improve. I am in no way a religious person, but I guess that I could be labeled as spiritual. Some people maintain that having a statue of St. Joseph, a charm buried in the yard or other symbols of the patron saint of carpentry. In this environment, we have to pray that homes begin to sell. There are actual home selling kits available on line...they are available in various sizes with the starter kit that includes a 4" statue, protective burial bag, prayers, instructions and a book.  As they say, it can't hurt! PRAYER TO SAINT JOSEPH FOR SELLING A HOUSE O, Saint Joseph, you who taught our Lord the carpenter's trade, and saw to it that he was always properly housed, hear my earnest plea. I want you to help me now as you helped your foster-child Jesus, and as you have helped many others in the matter of housing. I wish to sell this [house/property] quickly, easi

156 Chestnut Hill Rd - What next for this Old Gal?

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156 Chestnut Hill Rd - Wilton,CT is back on the  market for $1,099,000. Owner: The Wilton Bank I am not the listing agent, but here is a recent history of 156 Chestnut Hill Rd 2002 - Sold for $950 (As an option, they had packaged the barn and home separately - $795,000 for the home below and $595,000 for the barn on 3+ acres) but it sold with both buildings and property then...2005 - Builder #1 Restored Stately 6 Bedroom Colonial on 7 pastoral acres with Barn  156 Chestnut Hill Rd - Wilton, CT And this WAS virtual tour of the home  - beautifully presented by The Higgins Group - had been listed for $2,495,000 http://homesite.obeo.com/Viewer/Default.aspx?tourid=332748&RefURL=http%3a%2f%2fwww.google.com%2fsearch%3fclient%3dsafari%26rls%3den%26q%3d156%2bChestnut%2bHill%2bRd%2bWilton%2c%2bCT%26ie%3dUTF-8%26oe%3dUTF-8 ...then Builder #2 bought it in 2007 for $1,850,000 He demolished the barn - that had been an income producing property  so cute! bye bye  Pool - g

1003 Lake Ave Sold - What a Deal! - SOLD $3,976,000

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Sweet Deal - with 258 days on market, this home is one of those deals that happen during times such as these..... LP $4,650,000 8.38 acres in RA4 zoning! 5165 SF Built 1990 - Renovated 2009 1003 Lake Ave Front Sunny Kitchen Privacy Galore Flat - Level - Parklike

Crazy Number - 40% of March's existing homes sales nationally were REO's + Short Sales!

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This certainly dampens the "increase" in March home sales from February...and credit continues to be tight. Credit scores now need to be 760 from 720. According to DSNews - all cash sales had a record market share at 35% last month up from 27% from March 2010. 22% of the sales activity came from investors.

36 N Stanwich SOLD - $6.6 - The Greenwich Market Moves - 1000+ days and $3.7M later

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This beautiful property sold  - pheww... after taking it down from $10,300,000 in 2008 through several price reductions to the last one - $7,900,000 and selling for $6,600,000 - BARGAIN! Assessed value is $5,944,540. 10,000 sf of brick and slate - it has an oooh and aaah factor for sure. 36 N Stanwich Front GRANDE Entry Relax Tennis?

Private Property and Parts in Old Greenwich

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When a man was spotted by his neighbors sunbathing nude in his driveway in Old Greenwich somewhere in the vicinity of Tait Road (which for those of you not familiar with Old Greenwich - the homes are rather close to one another) - they called the cops. When the police arrived, the man did admit that he was sunbathing nude al fresco, however, the police said that there was a fine line since the private parts were exposed on private property, however, they warned him that he could potentially be arrested in the future. If the police determine that an individual is out of line, or causes alarm, they could be charged with disorderly conduct. Is seems rather subjective - what is alarming to one could be entertainment to another....and there is always the perspective that there should be something left to the imagination :-)

48 Partridge Hollow - SOLD! $7M

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I love the name of this road - it just sounds right...and this house looks right....beautiful 10,000 SF shingle style home was only on the market for 116 days which is great - considering the average DOM is considerably higher. High ceilings, great detail and construction, 5 fireplaces, 4 car garage, beautiful setting.... The list price at the time of sale was $7,595,000.... 48 Partridge Hollow Front Where dreams are made The Library Summertime