As demonstrated in today's listing for Bradbury Lane, Riverside. Sold for full asking price of $3.4 million when newly constructed in 2006, now asking $3.195. Land's one thing, but the run-of-the-mill construction perched atop of it doesn't hold value. Buy what you like that suits your family, and enjoy it, but don't expect that aging structure to support you in your retirement.
That's not the case in some areas of the country, where housing prices are soaring, but in Greenwich, just buy with an eye towards providing your family with a decent house and neighborhood to live in, and you won't be disappointed when you reckon the finally tally.