Sale prices reported

19 Andrews rd

19 Andrews Road closed at $2.7 million. A fine, 1929 house, in a good location, the sellers paid $4.6 million for it in 2007. They priced it at $3.8 in April 2018, a discount that, in times past, should have assured a speedy sale but instead, it took almost two years to find a buyer.

10 Club Road

The owners of 10 Club Road in Riverside fared better. They paid $4.350 in September 2018, changed their minds and put it back up for sale in September 2019 for $4.495 and have sold it for $4.250 million. For an illiquid asset like Greenwich real estate, that’s a home run; transaction costs included, they probably lost just $400,000 or so.

You're heard this advice here, many times, but it never hurts to repeat

Remuddeling made simple

Remodel before selling? Not so fast

“The current demand for most prime locations is one of three: A well-proportioned, well-maintained home with an easy-to-access yard, a functional floor plan and good, natural lighting. A small home or fixer-upper that has potential to add value.A brand-new home or an almost-new home with open space, volume ceilings, and a flowing floor plan including an open kitchen/family room and a wonderful master suite with a huge adjoining bath and walk-in closet.

…. Of course, if you plan to stay five to seven years and you need the extra space to live, by all means, do the remodel. [emphasis added]

Remodeling is very tricky, and many homes are just not that conducive to a good remodel. Avoid adding random rooms with a step up or step down. Keep your ceilings high and your floor plan open to natural light. Galley kitchens and small bathrooms are not in demand.

Remember that the better the location, the more land value may exceed the value of an old home with lots of rooms.

Do your research before pulling the trigger. Your home might be a land value, even after investing $300,000 in a remodel. “

All just common sense, but I see a number of redone houses out there that ignored it.

Does this mean she'll quit?

The same day the NYT literally gave her its half-hearted endorsement*, Fauxcahontas admitted that American voters probably won’t want to vote for a liar.

Nice to know that she has some sense of shame.

*NYT can’t decide between Kolobuchar and Warren, endorses both

Headlines I never read past

Are those bearer bonds in that briefcase?

“All you need to know about Harry and Meghan’s life after Megxit.”

I did see somewhere else, though, that he’s worth $20 million, she’s got $5, and she’s eyeing a $27 million home in BC. I guess they plan to cash in on their former status, fast and furious.

Pray for Trump’s re-election and the steadfastness of Meghan’s vow to stay away from us until he’s gone.

Great moments in real estate listings

The only good picture of the house; it must have been mistakenly included in the portfolio

News that a toney preschool in NYC had shut its doors after “allegedly” being looted by the founder’s philandering ex-husband led me to another NY Post article on that ex, one Hugh Levey, who, at least according to the Post, owned a “$5 million home in Greenwich”. Curious, and having nothing better to do on a Sunday morning before a holiday, I looked it up, and discovered the house in question, 2 Calhoun Drive, which sold via short sale for $1.570 million in 2017. I’m pretty sure the house was never worth anything close to $5 million, though there seems to have been over $3 million in debt improvidently loaned on it.

But what interests me — cuckolds, philanderers and bankrupts are a dime a dozen in Greenwich and hardly worthy of note — are the listing photos. They were obviously intended to provide the worst possible views of the house; most, in fact, show the deplorable condition of the ruined tennis court, and the rest are no more enticing. The listing agent is an excellent, experienced saleswoman who knows how to present a house, so clearly that was not the intention here, and truth in advertising is not a skill much practiced in my real estate profession. So what was up? I don’t know. I could call the agent and ask her, but it’s more fun to just point out the paradox and wait for her to email me with the explanation (and I know you will, Joy).

LISTING SERVICES IN THE REAR

FINALLY, AN INTERIOR SHOT!

THE PHOTOGRAPHER MAY have been iN this picture, BUT I DON’T THINK HER HEART WAS

We were promised more

Greenwich Invisible invited its friends but alas, turn out was hundreds, not “hundreds of thousands” who showed up.

looks like Jim Himes and sole pal identified as lady parts today

Lunatics living in an alternative universe. Greenwich Invisibles?

A quick change of costume and Jim Himes is back, this time appealing to the youth vote

Wyckham Hill Lane contract

Listing realtor describes it as a “stunning brick Georgian”. Who you gonna believe, him or your own lyin’ eyes?

10 Wyckham Hill, asking $2.495 million, under contract after just 130 days. The previous owner tried for $3.595 million back in 2015 and after two long years sold it to these sellers for $1.675. They, in turn, redid it, and got their price.

I like the houses on the other, non-Merritt-side of Wyckham, and I’m not as enthusiastic about homes on this side. But a lot of house here.

Where do old spec houses go when they die?

To the rent rolls, usually, but their builders do put them back up for sale from time to time, doubtless because they’d like to free up what remains of their capital. Case in point is 294 Bedford Road, on the New York border, built in 2005, priced then at $5.495, and alternating ever since between rental and sale. It’s back on the market today at $3.495, this time without the urgent plea found in its older listings: “Very motivated seller. Calling for any and all offers”. That desperate note first appeared in 2008; I doubt the owner’s sentiments have changed much in the ensuing twelve years.

This creepy picture in 2005 probably didn’t help. In fact, it reminds me of another huge old place, out west

room 217

of course, it’s the perfect place to finish that manuscript

Old Church price cut

64 Old Church Road, bought when it was new in 2008 for $3.750 million, and originally listed last year at $3.995 million, haas dropped its price to $3.375. Nice house, though with a so-so yard, and Old Church is almost in town, which is considered a plus by many buyers.

Best of all, the property now belongs to a relocation company, so there’s no danger of hurting an owner’s feelings by throwing a lowball bid at this home. Relocation companies, I remind you, are in the business of selling, not holding properties, so they’re often more open to reasonable offers than are mortgage-burdened owners.

Cos Cob contract

10 Schubert Lane, $1.495, down from 2018 ask of $2.195. Cos Cob’s always offered more house for less money, and this is no exception. Schubert’s a decent street, too.

Pleas of desperation sometimes work against a seller, encouraging only truly lowball offers, but whatever the accepted offer turns out to be here, the house has found a buyer.

Very motivated seller! Bring all reasonable offers! Assessment $1,472,170!

Agent to Agent Rmrks: Owner says sell! Please show & bring offers!

Whatever one might think about excessive use of exclamation points, the agent accurately reported the assessment price; the full appraised value, per the town, is $2.1 million. $2.1 was the wrong price, obviously, but something in the $1.4 range is probably a good buy. And lower would be better still.