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Showing posts from 2015

HAPPY NEW YEAR

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Some Year End Activity

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Not much going on, and looking forward to a New Year...I've not been writing lately because of the death of my youngest brother - it's been a tough holiday season, and feeling a bit low. A few closings to report - 16 PORCHUCK RD - 2,086,000 Sellers bought this 1928 home in 1999 for $1,415,000 and hoped to get well over $2.5M - starting the listing at $3M 3 years ago. They claim to have renovated in 2010 - essentially adding a family room off the 90's kitchen that came with the house....Who knows, my estimate for the house was $2.2 but they chose to go with another firm and re-list for about the same price as the previous listing $2,490,000 - their reasoning for representation was that Berkshire Hathaway owned by Warren Buffett might attract wall street buyers.  12 RICKI BETH LANE - $1,466,611 The closing price reads that the bid was tossed back and forth a million times before settling on a price that both sides could live with. Obviously not willing to up

22 Arnold is Back on the Market $2,095,000

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Surprisingly, the square footage is listed per Architect at 3800 (which includes the lower level), which I thought was against the rules in Greenwich. Taxcard reads 2686 for those considering this property. The lower level is finished. The sellers bought it when it was newly constructed - not quite finished, for $1,650,000 - so they must have confidence that the staging will bring a 25% higher number. TO SEE THE FULL LISTING CLICK HERE

50 Sumner Rd Closes - $1,575,000

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50 Sumner Road was most recently listed in September for $1,795,000. Sellers bought it in 1983  - a modern 3 bedroom 3 bath house, with separate guest house, on 5.61 acres, back in 2010 for $1,650,000. They then listed it in 2014, with a big ticket - $2,495,000. Perhaps hoping that they would pull all of their renovation and purchase monies out, plus a little gravy. Or perhaps the strategy was based on the assessed value of $1,622,040 which is 70% of $2,108,652

160 John Street is Back - Not With the Gimmicky $1M Tag

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Last year, 160 John street was listed on the MLS/IDX for $1M - but that was the starting bid for what was a failed auction. Currently listed for $21,500,000 It's back on, with a seller - all 18+ acres - a beautiful property that sits on one of the highest points in Greenwich. If you love horses, this is a perfect property! From your own stables to access to the Greenwich Riding Trail - for those of you not from here: GRTS. The house was built in the 1990 and described as a classical estate - and named Olefield Farm  - I find this amusing...but in fairness, it was restored by the current owner, David B Ford, who also bought and restored Miramar in Newport. So the taste is definitely traditional as you will see from both links below. Mrs Alexander Rice Cottage Newport RI  According to Bloomberg Business: "Mr. David B. Ford serves as the President of DBF Associates. Mr. Ford serves as a Senior Advisor of Gatemore Capital Management, LLC, a private wealth and

Open House Pick of the Day - 16 Roosevelt Ave - OG

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16 ROOSEVELT AVE - OLD GREENWICH $2,395,000 TO SEE THE FULL LISTING CLICK HERE This was a treat and in my opinion priced right. 3700 SF of space that was carefully planned - with everything where it should be...a must see if you want Old Greenwich new construction - and you don't kind being close to your neighbors. It does have a really nice deep backyard.

The Demand for Central Greenwich is Strong

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636 STEAMBOAT ROAD - CO-OP $3,699,000 IN CONTRACT TO SEE THE FULL LISTING CLICK HERE Even with $7440 in maintenance fees plus a $900 per month special tax, this 4700SF+ condo gets a deal...the heart of Greenwich is thriving.

"Mid Century Modern" Resonates, so let's use it...

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60 LISMORE LANE - NOW $2,995,000 TO SEE THE FULL LISTING CLICK HERE With a recent price reduction, on 2 acres, this home built in 1978, is described by the listing agent as Mid-Century Modern. It has nice features, so focus on the property itself rather than try to inaccurately romance a current trend.  It is 8400 SF and priced now within what the town agrees is the value. The listing started exuberantly at $3,495,000. The sellers bought it for $1,950,000 in 1996, and renovated in 2013. It has a new roof, electrical improvements, a new master suite, generator, indoor lap pool, outdoor heated pool with recent new equipment, a practice putting green, and an built-in aquarium.

Land Deal

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495 NORTH STREET - $4,995,000 TO SEE THE FULL LISTING CLICK HERE Nearly 4 acres in RA2 on the corner of North and Flagler - the property has a contract for the land only. It was also offered with plans for a home listed at $10,700,000. The perspective buyer obviously didn't buy that idea...

Cos Cob Contract

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74 N Old Stone Bridge Road - List $1,895,000 TO SEE THE FULL LISTING CLICK HERE 5119 SF and a little over an acre - abutting conservation land - nice..the town has it valued for a bit more. The owners bought it in 1990 for $1,017,500. It started at $2.1M when it failed to get $2,395,000 at the end of last year

TODAY'S BUZZ - ALL UNDER $1M

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IN CONTRACT 38 STRICKLAND ROAD TO SEE THE FULL LISTING CLICK HERE Asking price is $750,000 - not much sales history on the property, since the sellers have owned it since 1973 - and have rented it for many years...  LOTS OF NEW LITTLE STUFF 15 MAPLE DRIVE  - OG - $649,000 TO SEE THE FULL LISTING CLICK HERE 5 WEBB AVENUE - OLD GREENWICH - $898,000 TO SEE THE FULL LISTING CLICK HERE 20 NICHOLAS AVE - PEMBERWICK TO SEE THE FULL LISTING CLICK HERE 12 NIMITZ PLACE - OLD GREENWICH - $795,000 TO SEE THE FULL LISTING CLICK HERE

Recent Changes to NFIP Insurance

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NFIP Video Highlights Recent Changes      FEMA's National Flood Insurance Program (NFIP) has a new video that "covers important NFIP changes including new Non-Residential categories, new guidance for determining a Primary Residence, revised rate tables for certain Post-FIRM buildings, and revised ICC rates. You'll also learn about modifications to the underwriting forms, Floodproofing Certificate, and the endorsement and cancellation refund rules. And finally, something that is not part of the November 1 program changes but also coming soon: a new FEMA Elevation Certificate incorporating a new building diagram." To view, click  here .

CONTRACT 8 CLUB HOUSE ROAD - $1,995,000

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Sellers bought this Shorelands property in 2007 for $3M - tried selling it starting at just under that....and look where it is today! Ouch...the town has it valued for under the current list, so even if you don't know anything about the market, you can at least look at this as a benchmark...no excuses for overpaying for a property.  TO SEE THE FULL LISTING CLICK HERE

A Perfect DIY Project Could be a Moneymaker

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OK here is an opportunity! Build equity from the start!  In Town Location! If I were in the market for a starter home, or looking to downsize,  this property would be it. I happen to know that this property has been well-maintained, but not updated. It could adorable using the existing footprint. The rooms are well-scaled and there is the possibility for a first floor master  My advice would be to consider an offer using the following: Current List Price: $1,795,000 Minus $75,000 new kitchen Minus $125,000 new bathrooms Minus $10,000 new flooring upstairs Equals = $1,585,000 OFFER The sellers are motivated to sell - it's a win/win   2 Boxwood Lane - Off Maple Ave TO SEE THE FULL LISTING Existing Kitchen With Just A Little Imagination

Down by the River...

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18 Halock Drive - $1,795,000 TO SEE THE FULL LISTING CLICK HERE Shocker - that this would fetch anywhere near asking price. New construction on the river. They will pray not to have a relative of Sandy's knock on their door! Another point is that there has only been one other property in Pemberwick that has sold for over a million, and that was 11 Hickory Drive for $1.1M in 2013. It requires mandatory flood insurance, and to meet FEMA standards. The listing provides floor plans but not an elevation certificate...so I can't be sure whether it would have required a slab foundation as well as other elevation requirements?

Love Horses? Want a Perfect Weekend Retreat?

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747 Riversville Road is back on market For $3.3M...Is it on the beaten path? On top of the train? Within a block of Greenwich Ave? NO - but it is a property with beautiful views o 10 acres, a charming old house, a pool house, barn and a stable for your 4 legged friends...A buyer in this price range is crazy not to look at this. It most likely will need a few repairs here and there, but the value is huge. TO SEE THE FULL LISTING CLICK HERE

Sybil - A New Listing - $2,895,000 - 10 Wynn Lane

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Did the sellers like the original house when they bought it? When they renovated, were they thinking of re-sale with universal appeal? The land is valued at $2,341,000, so one could tear down the 60's thing, and add something a bit more complimentary to the newer addition. I'm sure that the new owner would make friend with their neighbors if they did. TO SEE THE FULL LISTING CLICK HERE Bought at the height of the market for $2,950,000 in 2005, the sellers added insult to injury by adding onto the existing 1960's house, and seemingly hopeful that another buyer might share their vision when they re-listed for $4,195,000 in 2008...denied for several years and prices. The listing describes "waterfront" but a picture is worth a thousand words:

A Grande Estate Comes to Market

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Offered by the estate of the founder of Liberty travel, Gilbert Haroche, this 262 acre property is available for sale for $75M.  1233 Rock Rimmon Road has everything...indoor and outdoor pools, tennis, barns, 4 guest houses, elaborate gardens...It has that 90's vibe, but a great project for the new owner. It's not the first time that it comes to market. It was listed with the same realtor in 2009  for $95,000,000. Earlier this year, just before his death, Mr Haroche's Sherry Netherland full floor apartment sold for $70M! TO SEE THE FULL LISTING CLICK HERE AMAZING GARDENS AND ARCHITECTURAL DETAIL

How Much is 4 Acres Worth at the end of Mohawk Lane?

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40 Mohawk Lane - $1,195,000 I was first listed as land for $1,295,000 and subsequently reduced to the above. After 40 days, it appeared has also as a residence, with a lovely and romantic description that touches on the existing use and/or the possible opportunity to build a 10K SF home. Described as having "peaceful serenity". Maybe with all of the trees, one cannot hear the Merritt. The most recent sale on Mohawk was the foreclosure at #39, which closed at $1.6M. It was a halfway decent house on 5.61 acres, albeit in need of some TLC. CLICK HERE TO SEE THE FULL LISTING

Contract: 70a Sinawoy - Cos Cob - $1,725,000

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TO SEE THE FULL LISTING CLICK HERE Smart move to price this property under $2M (and let the new owners finish the additional spaces, both lower and upper) - since it's rare to get this quality and space for the asking price. It was denied the original price of $1,895,000 (4 months), which is no surprise, since adjacent properties do not support this price, and it shares a driveway - often not a big deal, but not preferable over lone ownership. After 202 days on market it has a deal.

Contracts This Week

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Some activity to report...not on fire, but some deals are getting done... 39 JONES PARK DRIVE - RIVERSIDE - $2,150,000 - 140 DOM Ok house, nice location - 3300SF - described as a cottage per the listing  - I can't disagree - and good for managing expectations for showings. Sellers bought it in 1998 for $850K - and it was the same structure from what I can tell... TO SEE THE FULL LISTING CLICK HERE 74 CLIFFDALE ROAD - $1,595,000 What's notable is the 6.15 acres that this colonial sits on - bordering the Griff and the Byram River - as per the listing, it makes a great summer retreat possibility, or upgrade existing house, or build new/add on...It started at $1,875,000  TO SEE THE FULL LISTING CLICK HERE 356 DAVIS AVE - $1,095,000 Starting at $1.2M in September, this 5 bedroom 2 family has a deal. The town has it valued at approximately the current list price. TO SEE THE FULL LISTING CLICK HERE

Reported Contract - 30 Buxton Landing

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TO SEE THE FULL LISTING CLICK HERE 4 PROPERTIES SHARE A DOCK The list price is $1,099,000 after failing to fetch $1,295,000 - but the sellers can't be too upset. They bought it for $575,000 in 2002 - expanded it slightly, and maintained and updated it nicely.

OPEN HOUSES THIS WEEKEND 10.25.15

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FULL LIST OF OPEN HOUSES FOR THIS WEEKEND FEATURED OPEN HOUSE - 212 TACONIC RD - $3,695,000 TO SEE THE FULL LISTING CLICK HERE I toured this home this week again, and it is truly a beautiful, classic New England home...It sits proudly at the corner of Stanwich and Taconic. It has an approved pool site, so going to town hall again is most likely an easy task at this point... I love the symmetry, and the flow is great. lots of room to create great memories...no contrived turrets, or other distractions...just a solidly built house. Could it use a few updates - sure, but it would be a fun process to make it your own.

A Very Cool House - Re-Packaged for Sale

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558 Lake Ave - is a beautiful property...the kind of construction that would cost a fortune to replicate. Being sold "as is" - but it's priced below market value, in my opinion. It looks to be a re-packaged foreclosure. Prudential looks to be the seller to CMI - whatever that acronym stands for...The town of Greenwich values it around $6.7M TO SEE THE FULL LISTING CLICK HERE

OPEN HOUSE PICK OF THE DAY

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REFRESHING - 150 RIVERSIDE AVE - $3,180,000 This property is beautifully refreshed - and it feels great. It sits away from the street, and it has a great terrace on a beautiful flat lot... You'll get it when you see it... It had been on the market for a while, but the new agent and seller had the vision to make a few changes to market it differently - Bravo, because it will now get a deal! TO SEE THE FULL LISTING CLICK HERE WELCOMING ENTRANCE GREAT MIX OF AN ANTIQUE BUFFET WITH MODERN TOUCHES BEAUTIFUL LIGHT - COOL NEUTRALS MIXED WITH A TOUCH OF BLUE