I recall ridiculing this back in 2009

22 Indian head Road

22 Indian head Road

22 Indian Head Road, in Riverside, which now has a contract, but is also now priced at $2.345 million, and is undoubtedly selling for less. In 2009, someone, probably the agent, priced it at $3.995 million, and I pointed out at the time that there were far better homes on the same street, asking far less.

At this price, someone's getting it for just about land value, and has a house to live in, free (well, maybe for $500,00). Nice deal. 

Ditto, per previous post

27 Chieftans

27 Chieftans

27 Chieftans Road has sold, for $2.395 million. Sellers paid $3,687,500 for it in 2004 and have been trying to unload it since 2008, when they asked $4.295. I showed it, at my clients' insistence, a few times over the past nine years, but they were no more impressed with it - especially its location - than I was. If you'd like to see a dying example of settlers exploring the fringe areas of a community, drive on by Chieftans. 

Say, here's a novel idea

Hey, it's the Willie Sutton principle

Hey, it's the Willie Sutton principle

Hartford Democrats, facing $1.5 billion deficits in each of the next two years, eying increasing sales tax and highway tolls.  In addition to Malloy's own proposal to raise property taxes by dumping a third of teachers' pension costs on towns, we can almost certainly expect a rise in income, estate and gift taxes.

Malloy would pay for half that $1.5 billion deficit, by the way, by cutting state employees' pay by $700 million. Since that will never happen, we can predict with confidence that Greenwich is in the crosshairs. Oh, joy.

Dick Pace, did you see this?

Smart agent: she borrowed the Greenwich zebra skin and sold the floor she laid it on for zillions

Smart agent: she borrowed the Greenwich zebra skin and sold the floor she laid it on for zillions

Dick's a friend of mine (and at least once upon a time a reader of this blog) who fled Riverside after selling 8 Chapel Lane for $1.469. That buyer built a spec house on the lot and has just sold it for $3.820 million, which has got to be a record for Chapel. Two lessons here, I suppose: (1) you just never know what the current ceiling is in Riverside these days and (2) the old rule of thumb about paying for land to build on: 1/3 for land, 1/3 for cost of construction, and 1/3 for overhead and profit, is no longer operative. 

$3.8 for Chapel? Wow.