It’s true! I know, you think all he does is that damned blog, but I tell ya, he’s sellin’ stuff, lately seems like every two weeks! Big ones, little ones, you name it.
1465 East Putnam Avenue, unit 317, “The Common” is the one he sold today. I’ll try to gather some more evidence tomorrow and present my case fully.
List: Ellen Mosher
Sell: Christopher Fountain
1465 East Putnam, unit 317; just the latest in the Chris Fountain sales streak. Sells for $432,000 (Got $530,000 back in 2007).
100 Club Road: The view from the (present) master bedroom deck. Expertly photographed by the best real estate photographer in the business, Mr. Tom Young (914) 939-7722 (free plug!)
Great Scott, in all the excitement of arguing with readers about “properties next to private clubs”, I’ve plumb forgotten to plug my own listing!
100 Club Road (co-listed with broker George Crossman) is a spectacular 2+ acres of Riverside waterfront and best of all? It’s right up next to a private club! (Oh, the noise, the disruption, the, the…members!)
But seriously, it’s only been on a few days, and the most serious lookers thus far have been specifically attracted by the proximity to the Riverside Yacht Club. Imagine that.
79 Dingletown, after ($5,100,000)
To paraphrase the great Yankees (radio) announcer, John Sterling, “If you think you can predict [real estate], you’re crazy”.
Take the case of 79 Dingletown Road (link shows before/after). This is an absolutely beautiful house by builder Rick Rowland’s “BSF Properties”. He’s built roughly the same house at other choice locations, all sold for big fat prices. 79 Dingletown was just one of the many in a long string of successful spec-jobs by BSF. In November, 2007, it sold for $6,787,500.
So imagine my surprise when this time around, it only gets $5,100,000. And, it was perfectly furnished/decorated and the new owners added a really nice pool! Meanwhile, the oft-mentioned 35 Club Road, during approximately the same period, sells for $8,675,000 (2008) and then, a few weeks ago, for $8,450,000! To quote Homer Simpson, “Doyghh!”
Broker Paul Larson, who’s trying to persuade me to persuade my clients to ante up for his waterfront listing sent me this very well-presented, easy to grasp comparison of recent Old Greenwich waterfront sales (the image is from my i-Phone). What I’m especially impressed with, besides the excellent layout of useful information, is that he dug up a nearby direct sale that most people, even neighbors, might not know about. That’s the one at 40-44 Rocky Point Road where some big-wig at Time-Warner? (one of those media companies) bought two adjoining parcels for a bit of protection. You’ll note that he (and Mrs. Big-Wig) paid $10,400,000 for a couple of tear-downs on 1.02 acres, or $5.2M each.
Most brokers aren’t nearly as proactive as Paul; during a showing, they might rattle off addresses of “comps” and assume you and your customer have all the details memorized, but the truth is, all of us, brokers and customers alike, need facts in front of us. Paul knows this, so he puts this thing together and sends it to all of us showing brokers so that we can send it to our customers (neglecting to credit Paul, of course). That’s smart brokering.
Speaking of “41”, one of my absolute favorite properties, 41 Meadowbank Road, is among the many that took substantial amounts off the asking price this week. In this case, dropping from $10.5M to $9.5M.
This is something I should have been tracking for you people long ago; the daily “price change” list, which almost always means price reductions. In the long, long road to the closing table, almost every single property needs at least two price reductions, sometimes more. If you’re seriously looking to buy, this is the list to pay attention to.
For the week: 41 price changes
Too much trouble to sort them out (my fault for letting them add up like this!), so here are the
93 accepted offers, executed contracts, and contingent contracts (July 26th through September 11, 2012)
50 Sound View Drive condos: Contrary to popular belief, these babies are gradually getting sold! How do ya like that? (Sound View Drive is that steep hill, just past Town Hall, that ends at the Lexus dealership)
Yes, it’s true…
113 properties have closed since the last time I tracked this statistic, back on July 25th.
A few of these are in-house deals, where you’ll see in the remarks “For reporting purposes only.” As you know, I’m not a fan of in-house deals, particularly where the broker represents both sides, but in a slow market, in the high-end $5M+ category, maybe, sometimes, possibly…these things make sense. Still don’t like ’em. Want the top price for your property? Expose it to the market.
Among the lucky 113: 190 North Street makes a deal at $11,500,000 (this is the original mansion from which “Cotswood Road” got its name).