Back to the bad old days

8 Cathlow Drive

8 Cathlow Drive

I kicked and screamed here for years about the Greenwich Association of Realtors allowing a reset of days on market if a broker cancelled a listing and resisted it the same day. The time on market is important information for a buyer, and the GAR finally acknowledged this by changing its rules and requiring a six month hiatus between listings before the clock would be reset. Which was still bullshit, so far as I'm concerned, but a buyer's agent will provide the actual time on market: those of you who eschew independent representation are on your own.

In any event, 8 Cathlow Drive, Riverside, has dropped its price to $5.195 million from its $5.995 price set on March 19, 2017 when, according to the GAR, it was put on the market. Again according to the GAR, it's been on the market only 116 days. In fact, The house was originally listed May 16, 2016 at $6.775 million, a price the owners refused to budge from until March 19, 2017, when the listing was "cancelled" and immediately relisted by the same brokerage: Coldwell Banker, same agent, at that $5.995 number. By my math, this property's been on the market 409 days, not 116. 

I'm not interested in bashing the owners here—it's a fine house, at the right price, and Cathlow is a great street: I do find the GAR's return to its deceptive practice of calculating days on market disheartening.

(if you're curious, or want to refresh your memory of this house, it was discussed here back in April)

So far, THE ZEBRA has been ineffective, but perhaps, in combination with this latest price cut, the owners will see some action.

So far, THE ZEBRA has been ineffective, but perhaps, in combination with this latest price cut, the owners will see some action.

Not sure whether parking a borrowed subaru sportster in the driveway will help, but perhaps it has zebra UPHolstery? 

Not sure whether parking a borrowed subaru sportster in the driveway will help, but perhaps it has zebra UPHolstery? 

Reflective of the market in general, or just this house and Pecksland Road?

79 PECKSLAND ROAD

79 PECKSLAND ROAD

79 Pecksland Road, was listed for sale at $4, 937, 500 in June, 2016, a price that remained unchanged for 396 days, before finally being listed for rent at $15,000. After just a few weeks, it has been rented at $16,000. I find it interesting that at least two people were unwilling to buy this house, but were willing to rent it. I'm assuming that someone who can pay an annual rent of $192,000 can also afford to buy a $5,000,000 house, but both bidders chose to rent. 

This home's previous purchase history offers a lesson: It was offered by Ogilvy at $5.495 million in 2002, and was sold for $5.4 million just 33 days later to another Ogilvy client. I'm certainly not suggesting that you decline an opportunity to be represented by an agent in the same firm as the listing agent, but you might not want to rush into a purchase contract before the market's had a chance to weigh in. Especially if that listing agent has a history of falsely claiming that another party is ready to buy it. Don't be pressured—there's always another bus coming around the corner.

IT DOES, OF COURSE, HAVE THE CHAIR

IT DOES, OF COURSE, HAVE THE CHAIR

DOES HORSEHIDE REPLACE ZEBRA IN RENTALS, OR IS THIS JUST A STAGER THINKING OUTSIDE THE BOX? (DOES THIS SCRAP OF ANIMAL SKIN LOOK AS THOUGH LOOK LIKE AN UNFORTUNATE PHOTOSHOP ADVENTURE, AS IT DOES TO ME?)

DOES HORSEHIDE REPLACE ZEBRA IN RENTALS, OR IS THIS JUST A STAGER THINKING OUTSIDE THE BOX?

(DOES THIS SCRAP OF ANIMAL SKIN LOOK AS THOUGH LOOK LIKE AN UNFORTUNATE PHOTOSHOP ADVENTURE, AS IT DOES TO ME?)

Whoever their father is, he owes it to them to move immediately for sole custody

Eeeeek!!!

Eeeeek!!!

This, from a Social Justice Warrior mother: 

I love my sons, and I love some individual men. It pains me to say that I don’t feel emotionally safe with them, and perhaps never have with a man, but it needs to be said because far too often we are afraid to say it. This is not a reflection of something broken or damaged in me; it is a reflection of the systems we build and our boys absorb. Those little boys grow into men who know the value of women, the value that’s been ascribed to us by a broken system, and it seeps out from them in a million tiny, toxic ways.

A mother doesn't feel "emotionally safe" with her own boys? They ooze contempt for women "in a million tiny, toxic ways"? 

The writer is not alone in her hatred for her children—the link has still more.

Hillcrest Park

If you can deal with the annoying name, 7 Ricki Beth Lane has been reduced today to $2.5 million, which makes it, in my opinion, an attractive house to at least consider, and maybe buy. I really like this converted carriage house, but let its listing agent Ann Simpson give you its colorful history:

'The Casino' This former 'speakeasy' got its name in the Roaring 20's for the fabulous underground parties hosted in the ballroom where the band would play into the night for luminaries from New York City looking to escape the prying eyes of prohibition. The individualistic spirit of the home continued into the mid-century as an artist enclave for musicians looking for natural inspiration in the beautiful meadow surroundings. It is said that the American version of 'Mack the Knife' was composed here while Mark Blitzstein was in residence. Today, this carriage house has been fully updated to preserve the rich history in the modern era. 

The owners paid $2.475 for it in 2012, which I considered a fair price at the time: nothing's happened since then to change my evaluation.

Love that they retained the original stable doors

Love that they retained the original stable doors

This might work (update: this WON"T work)

Even at this price, you'd expect the agent to at least level her iPhone and maybe move the garbage cans out of sight, no?

Even at this price, you'd expect the agent to at least level her iPhone and maybe move the garbage cans out of sight, no?

27 Cobb Island Drive has hit the market at a "pre-approved" short sale price of $2.115 million. Built in 1993, these owners paid $3 million for it in 2000. They've been trying to sell it since 2013, when they started at $4.199 (bad idea), but it seems they've now tossed in the towel.

The property's on the better side of the street, away from I-95, and it does have views of Cos Cob Harbor. I wouldn't vouch for access to the water here, but possibly a canoe or kayak would work.

When I toured it several years ago it was in good shape, but the listing now says "sold as is", so that might be a warning, but perhaps not: bank short sales are always as-is, though that doesn't preclude your performing a home inspection, and walking if you don't like what you find. 

UPDATE: Mickster draws our attention to the building inspection report, which shows that the house is basically rotting, with non-functioning a/c, a roof in need of replacement, a cracked foundation, etc. So don't just walk from this place, run.