Price cut on Dearfield Lane

One Dearfield, now $2.995 million. It’s been for sale since September, 2015, when it kicked off at $3.499. After this long on the market, the owner might want to consider taking a larger bite off that price.

A genuine charmer, 1934 pre-war, gracious, and close to town, so I’d attribute its failure to sell to its price, not from lack of appeal. But there is one daunting problem: the listing describes the roof as composed of “Ludowici roofing tiles” which are beautiful clay tiles, but expensive to make and expensive to repair. This close-up of the existing roof says to me, “major dollars”. Nothing that can’t be fixed, of course, but it doers make for a discouraging first impression. The Ludowici company warrantees its product for 75 years; at 84-years-old, this roof may have hit its expiration date.

NOTE: The owner has written in (see comments and discussion) and assures me that the roof is in very good condition. I was alarmed, unnecessarily it seems, by the missing tiles I saw in its photos. The underlying theme of this post remains the same: it’s a great house, in a great location, and priced well.

UPDATE: The Mickster and I were just conversing (that’s not intended to be a high-faluting term for talking — we were texting), and we both agree that this is a fabulous house, albeit a tad close to the main road. The owner did a beautiful job renovating it, and if there’s some exterior work to be attended to, so be it: it’s a great in-town home. If that’s your destination, get a good building inspector, do some sharp negotiating, and go for it; they literally don’t make them like these anymore, and that’s too bad.

Remember the Alamo!

18 Pinecroft has returned to the market with a new price tag: this time, $4.895 million. Its owners paid $6.5 when it was new in 2004, made some improvements, and started trying to resell it in 2013 at $7.250. So far, they’ve been unsuccessful.

Despite its San Antonio facade, this is in fact a pretty nice house, on a convenient street close to town, and sited on a good piece of land. This new price might finally scare up a buyer.

Democrats will focus on the REAL terrorist, Donald Trump

Eliot Engle will shut down House sub-committee on terrorism and start a new one, which will investigate the President of the United States instead

The newly minted chair of the House Foreign Relations Committee is closing a terrorism subcommittee to focus on a new panel to investigate President Trump’s ties with international leaders and helter-skelter foreign policy.

“We just thought, if we’re going to do something relevant in this era where Congress is going to reassert itself, where there are so many questionable activities of this Administration vis-à-vis foreign policy, that it made sense to have this,” Rep. Elliot Engel told the New Yorker magazine.

The Democratic lawmaker — who has represented parts of the Bronx and Westchester County for three decades — added that there “wasn’t a great clamor” from lawmakers to keep the terrorism panel, which was formed after the Sept. 11th attacks.

We’re in for a long two years.

No real estate news of import today, so far, but do come by Norton Lane this Sunday!

16 Norton Lane, Hillcrest Park, OG 1-4

Public open house Sunday, 1-4, at 16 Norton Lane. Come by and say hello. No guarantee of adult beverages — I don’t want to impose on the hostess/owner, but I’ll try to at least have coffee to offer, and who knows? Maybe the Mickster will pass out animal balloons.

A rising tide sinks all boats

3 East Point Road, off Shore, close to Tod’s Point, has sold for $3.025 million. It sold new in 2006 for $3.5, and $3.450 in 2016. It’s a perfectly decent house, so I’m guessing this gradual subsidence in price is due to our ever-stricter flood zone regulations. So far as I know, the house itself never flooded, but this area is known for requiring dinghies and rubber rafts to negotiate in during storms. Always has, always will — get over it.

Speaking of price cuts

Way back in January, 2017, I poked fun at the owners of 340 Old Church Road for dropping their price from $3. 795 to $3.695 [Gil, POS, this time I’ve checked my typing]. arguing that any buyer who’d balked at the first number wasn’t going to bite at what was essentially the same one. Today it’s down to $2.350, which is persuasive. If you’re into quirky homes, Old Church is a good street, and this is a pretty neat house. Could go farther and fare worse, as they say.

Fire sale?

11 Carrington Drive, up off of north Stanwich, has sold for $2.350 million, a substantial discount from its February 2017 asking price of $3.875. Carrington’s a nice street, though a bit far from town, and this is a lot of house for what once passed for not a lot of money in Greenwich.

Maybe the photo of a wildfire raging behind it deterred buyers.

There might be a decent deal here

347 Riversville Road is now down to $795,000. The owner paid $830,000 for it in 2004 and spent a pretty good amount renovating and improving it. It’s in foreclosure — $1.4 owed, which shows how foolish banks were back in the day — but, without working the math, I’d think this would work as either a rental property or a starter home.

Well isn't this silly

23 Khakum Wood Road has dropped its price $10,000, from $9.985 to $9.975. It’s a 1927 “brown furniture” house, which the current pool of buyers don’t want, and it’s been on the market since 2007 (!) when it started at $19. 7 million. Knocking $10 million off that price was wise, but what on earth does the owner think taking another $10,000 will accomplish?

Khakum Wood has lost its appeal over the years, so I expect we’ll see this property hanging around for a bit longer, despite today’s price cut.

A thorough whacking, unfortunately

9 Mountain Laurel Drive, way up near New York, has sold for $3.550 million. That’s a substantial sum, but the sellers paid $4.9 for it in 2005, and put some substantial money into renovations. My guess is that even $3.550 will prove to be a regrettable price a few years from now.

I haven’t recommended any properties in this area for, I’d guess, a decade, except to Bedford/Banksville residents who wanted to stay close to their friends and neighbors, but escape Westchester County taxes. As an “investment”, it’s a black hole.