Friends, many of us would have either walked away or been fired LONG before this listing finally sold, but not broker Steve Archino! Nope, ol’ Steve hung in there, beginning on that cool, crisp February day in 2011. Now, a short 8 years later, Archino gets his reward, reporting the sale of 449 Round Hill Road, for $6,613,000.
If you’re not in the business, you might wonder why, oh why, would a seller allow a property to hang around so long? The answer is…who the hell knows! but it’s a very common practice in Greenwich. My observation is that sellers in this lofty price range own multiple homes and multiple assets and just aren’t that concerned. They pick up the phone every once in a while, check in with their broker (Any showings lately? Good, ok, keep up the good work!) and then forget about it till next month. As long as everyone’s happy, who cares?
Anyway, this is a good price, and provides further evidence of a back-country market that continues to improve.
I like to see smart re-dos and it looks like that’s what’s happened on Riverside’s Thornhill Road. The old house was perfectly acceptable, nicely maintained, but woefully out of date (see before photos, linked below). The backyard’s REALLY deep and the impression of space is even better because the neighbor to the left didn’t put up an ugly fence. It always amazes me how much better two adjoining properties can look when neither neighbor fences off, but I’ll admit, sometimes you have no choice.
UPDATE: Sold for $1,337,000 Jan. 22, 2019
Maybe that big backyard was the reason the old house was so badly overpriced, starting at $1,250,000 in May, 2017. Several price reductions and many months later, they finally got a deal, closing for $930,000 in April, 2018. Four months later, total transformation complete, it came back on for $1,399,000, in August, 2018, and now, a contract is reported. Did the builder make money? Depends on that closing price of course. I’ll keep track and report to you on closing day.