What’s Selling RIGHT NOW in Greenwich

15 contracts in the last 7 days, and 36 properties went from contracts to “pending”. Considering the current situation, that’s an astounding level of activity. And it’s not just fleeing New Yorkers, although those numbers are way up, of course. It’s also just the normal demand coming from within the town, people wanting larger quarters, people scaling down, or just moving from one neighborhood to another.

2 Knoll Street, Riverside, $1.995M hit the market and… gone! 20 showings, fast deal.
Listing agent: Lindsey Sheehy.

If it’s this busy now, it’s going to be a truly awesome Spring market that will extend an extra month, through July. Let’s see if Gid, Wizard of Real Estate, is proved right. And for additional blather on this exciting topic, tune in weekly to my radio show, “Your Greenwich House”, Wednesdays, 10:00 AM at 1490 WGCH and WGCH.com, you will be entertained.

“Gosh, the market must be dead!”

Actually, it’s not dead, I’m amazingly busy and so are loads of other brokers.. It seems there are plenty of people out there who think this covid-19 stuff is going to end fairly soon. Maybe they’re right! A friend of mine tells me his friend, a top doc at Manhattan’s Colombia Presbyterian Hospital, says the only covid-19 number to watch is hospital admissions, and he predicts that number will peak in a few days. After that, things start to get better.

We shall see, shan’t we!

17 Willowmere Circle, Riverside, $2.695M, currently my busiest listing, averaging about two showings per day (all composed of property-walks).
1 Rogers Road, Shippan Point, Stamford, $4.495M and for rent, furnished. This is currently my second busiest listing, getting about one showing every day.

Besides this blog, you can learn a lot about what’s going on RIGHT NOW with Greenwich real estate on my radio show, every Wednesday morning, 10:00 AM. The show’s main goal is to make you laugh, but we do sneak in some truly useful real estate info, so listen on your car radio or on your mobile device, would’ja?

WGCH.com or 1490 AM on your damned radio! (that’s me on the right, broker Jon Wilcox on the left)

Hate When This Happens!

156 Stanwich Road, Greenwich, CT. Asking $2,875,000., already has deal.
Listing agent:Roberta Jurik
Selling agent: NOT Gideon Fountain, dammit.

A client just asked me about 156 Stanwich Road, a great old 1936 colonial overlooking Greenwich Country Club. Sold in 2009 for $2,450,000, came back on December 12th for $2,875,000, now under contract! %#@&!!

Current owners made all sorts of improvements (click “documents” on listing link), including a great new pool/guest house and beautiful master bathroom suite. As you will see from the photos, the furnishings are a bit… a little….er.. what’s the polite word for “dowdy”? But who cares? It apparently made no difference to the buyer.

The lesson? Once again a smart asking price proves that, even in a “slow” market, you can unload a Greenwich property immediately if you really want to.

Example of the furnishings… quaint, how about quaint? That’s nicer than “dowdy”.

A Market Test

247 Riverside Avenue, Riverside, CT, back on the market for $5,795,000.

Broker Ann Simpson has put 247 Riverside Avenue back on the market. She sold it to the current owners for $5,300,000 in 2011. There are plenty of parts of town where the price you paid in 2011 is no longer a possibility but I wonder if this one will prove just how well Riverside prices are holding up…

(The listing link may show MY happy little face, but this is Ms. Simpson’s listing)

Buy A Boat On The Riverside

Turner Franco and Josh Lewis, standing by (whilst seated), ready to talk boats. They both are hugely knowledgeable about the inventory and you can try before you buy, a relative rarity in the kayak business!
(Gideon Fountain received no compensation of any kind for this free plug)

For my entire life, “Ole’s Boat Yard”, 350 Riverside Avenue, Riverside, CT, was mostly a decrepit old dump of an establishment. Boats were theoretically sold and serviced there, but the amount of business done seemed pretty meager.

Now it’s been bought and restored by the same couple who spear-headed the restoration of many of the old Tod’s Point buildings, Chris and Rachel Franco. It’s safe to say that no other buyer in this town would have gone to the trouble of restoring this building. It was destined for the dumpster and would have been replaced by a nice, big & ugly spec house, and one more little Greenwich landmark would have disappeared , a loss for all of us.

Instead, the building now looks brand-new: there’s an art gallery, a luxury waterfront apartment upstairs, offices in back, a deck, and sandy “beach”, all quite amazing.

In addition, the Franco’s son has re-started the boat-selling business offering kayaks, paddle boards, etc. All this takes place dockside, so if the tide’s up, you can try before you buy. That alone makes this place unique, so go take advantage. High tide today, Saturday, Memorial Day weekend, is around 5:15 PM. That means, by 4:00, there should be sufficient water. Go buy a boat!

In case no one’s home, call or e-mail young Franco and he’ll scurry down and open up the store…

Should You Buy An Investment Property?

33 Valley Road, Cos Cob, CT. Asking price $1,650,000. Now has deal (sold immediately).
List: Denise Rosato of Coldwell Banker
Sell: Lisa McGinn of Berkshire Hathaway

Today’s Wall Street Journal declares California has become a one-party state. As a result, it has the highest everything: highest taxes, highest regulations, highest illegal alien population, highest number of people on welfare, and, to top it all off, mediocre public schools! Oh ,and the roads are in terrible shape, and getting worse.

Can all this happen in Connecticut? Yes, by gosh, it’s happening right now! So, is it time to get out? That, old chum, is YOUR decision. In the meantime, you might as well invest in some income property, what say?

Here’s a damn good example: 33 Valley Road is a four-family dwelling, with rental income of $8,800 per month, $105,600 per year. Taxes are low (for now), only $9,783 per year. All in all, a good investment in a central location that is near everything and will always be easy to rent.

Unfortunately, it just got snapped up, so forget about this one. But there are still eight more on the market (click link below) so go out tomorrow and buy one!

Current inventory of multi-family homes.