Closings: June 18-22, 2012

Ok, so last week, we had a modest

22 closings

(including this land listing at 21 Mimosa Drive)

Not bad, really, but this week is looking a lot more useful. So far this week, and it’s only Wednesday morning, we’ve had

13 closings

including this (tear-down) land listing at  120 Oneida Drive.

665 Steamboat Road, among last week’s closings. Almost every broker I spoke to wanted to live here, but actual buyers were more cautious. Asked $4.150M, sold for $2.950M.

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Accepted offers: June 18-22, 2012

Ok, something of a crappy week, with only

14 accepted offers.

Does this make anyone happy?  It does not. But do not despair.  Sometimes the “summer market” is good, sometimes it’s bad, but one thing the summer market is noted for is its ebb and flow.

Here’s how it works:  Once summer finally arrives, even the most committed buyers can become distracted by all the many opportunities that summer in Connecticut can provide.  But these buyers do come back, and I don’t mean in September, I mean now.  So expect to see some slow weeks followed by busy weeks. Got it?

 

40 Chapel Lane has a deal. Asking $1.3M (last sold 2006 $1.475M), this is about as cheap as direct waterfront gets in this town.

40 Chapel: The view… Nice! And I probably wouldn’t even tear down existing house (but I’ll predict that’s what’s going to happen)

O Riverside, where is thy zing? *

Last time I wrote about Riverside real estate seemingly running out of steam, the market immediately slapped me upside the head (metaphorically speaking) and we had about 15 quick sales within a matter of days.  I’d be thrilled to have that happen again, thank you, because, as it stands now, there are…

36 Riverside properties,  priced $2M and up, sitting around on the market.

I say “sitting around” but, of course, some of them have just come on recently.  But almost half have been available for 6+ months, some far longer than that. That’s worrisome, even for a happy-go-lucky chap like myself.

The explanation could be that for the last year or so the word has gone out that, unlike the rest of the town,  Riverside’s just fine, so why not sell?  That sentiment may have helped swell the inventory beyond what the market could absorb.  That’s my supposition, who the hell knows…

(Needing to end on a positive note, there is this:  25 Riverside sales in the last 6 months priced $2M+).

The beautiful, completely updated 158 Indian Head Road, marked down from $14.850M to $12.5M, direct waterfront. Time for a sale?

 

*My title is a play on a quote from The New Testament’s Corinthians (15: 55) “O death, where is thy sting?  O grave, where is thy victory?”

The Coming Heat Wave: What To Do

Answer: Nothing. You just sit there and relax. If you have to work outside, drink about 80 ounces of water throughout the day. The human body is remarkably capable of dealing with temperature extremes, so no worries, mate!

“Yes, but we caused this heat-wave, didn’t we?”

Nope, we did not. How do I know? Well, how about this…

The record temperature in New York City for June 20th is 98°, set in 1923.

World population in 1923: Around 2,000,000,000.

World population in 2012: Around 7,000,000,000.

So, 89 years have gone by since 1923. We now have an extra 5,000,000,000 humans roaming the planet and we still haven’t beaten that temperature record for New York City set in 1923.

Conclusion: The earth does what it wants. It is not “fragile”. An extra five billion humans has made no difference. Now go get one of those plastic kiddie-pools, fill it with water, and sit there and relax, just like Perkins the dog.

The earth’s around 4 1/2 billion years old. We have truly accurate temperature records dating back a couple of hundred years. Oh sure, there’s arctic core-ice, fossils, and glaciers, but we don’t really know how hot or cold it’s actually been, do we?

Executed Contracts: June 1-15, 2012

Last week, not that many..

Just 7 executed contracts (but this week’s numbers are already ahead of that).

Among them, the really impressive 41 Bush Avenue, in the Belle Haven section.  I can’t find the record of it, but this place rented a couple of years ago for an astounding $40,000/mo, and that was not a short-term rental!

List:  Joe Williams

Sell:  Joe Williams*

41 Bush Avenue, asked (eventually) $8,495,000, now has deal. Beautiful restoration of a classic. See? You don’t always have to tear down.

* Yeah baby.

Closings: June 11-15, 2012

And the answer is…

20 closings last week.

Among them, the spectacular (I use that word a lot) 183 Byram Shore Road. Nicely preserved contemporary (I did not say tear-down) on 3.84 acres of truly magnificent waterfront. This view was so special, I spent an extra 20 minutes just walking around the property, back when the broker open house was held.

That was February 28th. A mere 32 days later, they had a deal. Asked $12,495,000. Got $12,000,000. Nice work all around.

List: Bill Andruss

Sell: Susan (Candy) Durniak

183 Byram Shore Road, asked $12,495,000. 3.84 acres in the R-1 zone, initially described as “5 lots” (grandfathered?) but listing no longer claims that. Surely will be the future site of one grand mansion.

Cropped Photo!

See how easy? More Perkins, less Gideon…

Call me sensitive, but reader “Hemp4367” (or was it “Hemp4368”?) wrote a piercing letter that made me realize there was a bit too much Gideon on this blog.  After all, what are you here for?  Me or the real estate?  Exactly.

So I’ve cropped myself out, leaving only the exceedingly handsome dog and a touch of Jaguar.