Archives for the month of: March, 2011
Somehow, I missed this one….but this could be a good idea for a lot of families, who’s needs are shifting. ¬†Not exactly sure how this could impact my living – or other realtors, so maybe we should jump on the bandwagon, and figure it out – like a dating service?

Patrick R. and Jennifer A. Prosek to Lynn D. and Lavonne R. Kramer, 9 Old Mill Road $1,000,000

Lynn D. and Lavonne R. Kramer to Patrick R. and Jennifer Lebedis Prosek Trs., 80 Compo Mill Cove, $2,350,000

Reported by Dave Matlow in Westport Now, he wrote that sources chose to remain anonymous, but indicated that the 2 families have known each other for years, and their needs shifted propitiously to suit each other’s. Not sure how they worked out the financials, but it is an interesting concept.

This handsome home has found love – Original List $5,350,00 and currently $4,750,000, it sits on 5.63 acres off Round Hill Rd. Nicely updated with over 6000 square feet of living space, this home will no doubt be enjoyed by the next owner, who most likely will find value in a home that they will get for close to assessment. Value is selling!
Lovely Pool – Summer is almost here ūüôā

9 Bayberry Lane was just listed yesterday, and it will be interesting to see what happens to this “estate”. On 8+ acres, and zoned RA4 – who knows? Listed at $5,750,000 an assessed at $3,771,180, the improved land is quite pretty – and historically there are the GRT (Greenwich Riding Trails) that cut through the unimproved areas of the property – so that’s charming – for what it’s worth…
Back View of 9 Bayberry Lane
Exterior Back

There is no conversation about subdividing per the listing, but who knows whether they could provide access from Cherry Valley? I believe that the opening to the property as it exists is too narrow to provide access for (2) homes.
Will the buildings be razed? Most of them are not worth the amount of space they consume. And the main home is in need of restoration in most areas of the home – like all baths, there are 5 1/2 and 7 bedrooms. There was a new kitchen with butler’s pantry installed in 2007, but overall the house is very typical of the homes that were built in 1935 – the 2nd floor composed of ¬†a long narrow hallway with lots of little rooms with the master also in need ¬†of TLC….
Time will tell – the home next door at 5 Bayberry was completely gutted beautifully renovated in 2002. Year built same – SF and B/B provide pretty good comps, although it sits on 4 acres – It was listed for $5,295,000 and eventually sold after 500+ days for $4,750,000.
We’ll see….
Why wait? When you can have what you want when you want it. That is the pervasive attitude about everything that Gen X’rs processes. So, guess who is going to make the real estate market begin to move?
You guessed it – X and Y not? They are not the largest group – they account for 32% of home buyers – ¬†often considered people who are at least 30 years old, but they aren’t waiting for the market to recover as the baby boomers are (of course it is the baby boomers who often got stung with mortgages they couldn’t afford, or bought homes around 2005 and later, only to see their values decline)
According to RIS media, here are some interesting facts:
  • Gen X is willing to pay $5000 more for a home that is green¬†
  • Dark cabinets are preferred
  • They want a fireplace in the livingroom
  • They prefer a separate tub and shower
  • Prefer great rooms over formal spaces
  • Large lots

This home is located in one of my favorite areas – because it truly feels like the country, but it is super accessible to everything….

It sold in 2006 for $3.1 and now being offered for $2.5 – I would say that it is realistic. The sale prior to the last was for $1.5 in 1997 and since there have been improvements. There was an addition in 1995 and renovations in 2003. Just under 4000 square feet – 5 bedrooms and on 2 lovely acres…Assessed at $1.5+ so this will not last long…

145 Porchuck – Peaceful Living

And we can all use a little of that!
 Call me Р203-300-7023

After cold calling this week for listings – a thankless job, the number one question was: “Is the market moving?” Are you willing to sell your home at 2002 prices? If so your house will sell. Are you willing to list your home close to assessed value? If so, your home will sell.
15 Vineyard sold yesterday after 256 days.
This is where a photo would go – if the Greenwich MLS made is possible to save photos in order to publish….. ūüė¶
  • Original List – $6,400,000
  • Recent List – $5,700,000
  • Sold – $4,650,000
  • Assessment – $4,458,090
  • Last sold in 2002 – $4,350,000

Memories of growing up should be sweet, and many of the memories that we hold on to are those warm feelings of ¬†the home in which we were raised…gathering in the kitchen, ¬†nooks and crannies to call your own (even in a large family), and even the safe feeling of living on a quiet street where cars only slowly crept by.

This gracious Greenwich home has all the ingredients for creating perfect family memories. Listed for $2,850,000. It sits on a well sited 1/2 acre lot. Renovated in 2009, with minimum wear and great flow. The light is warm and fuzzy and filters through beautiful windows everyhwere. It also has a nanny suite with separate entrance. Taxes are only $11,860!
15 Anderson Rd – Greenwich, CT

Lovely Back Yard
Adjacent Family Room
A Cook’s Delight see it, call me: 203-300-7023

One of my favorite websites for modern living and great value
One of today’s features – Egyptian cotton duvet sets – $130
5 x 8 – was $1300 now $390!
Larger sizes also available
It’s a great way to open and lighten a room is with a small patterned light colored rug
Pattern relief camouflages wear Рneutral color is sophisticated 

Is it a coincidence that 8 of Connecticut’s 11 billionaires ¬†live in Greenwich? (10 live in Fairfield County) Or do you think per my last blog that it makes financial sense – OK we’ll throw lifestyle in there as well…it’s a great place to live – and one of my mantras is that like beliefs attract like beliefs.

Cohen, 55, is the founder of Stamford-based hedge fund SAC Capital Advisors and an art collector known to drop $100 million for a painting or sculpture he fancies. Forbes reports that he is worth $8 billion.
Ray Dalio
Dalio, 61, is head of¬†Bridgewater Associates, the world’s biggest hedge fund that’s headquartered in Westport but said to be looking to relocate somewhere in the area. Dalio and his family are also noted philanthropists. He’s sitting on about $6 billion, Forbes¬†says.
Lampert, 48, founder of¬†ESL Investments, a hedge fund with offices on Greenwich Avenue, is also chairman of Sears Holdings Corp. through his funds’ controlling investment in the parent company of the Sears and Kmart retail chains. Estimated: ¬†$3.6¬†billion.
Tudor Jones, 56, is known for his¬†Tudor Investment¬†Corp., a group of Greenwich-based hedge funds, as well as for the annual Christmas light show at his home in Belle Haven, his founding of New York’s charitable¬†Robin Hood Foundation¬†and his fervent support of his alma mater, the¬†University of Virginia. Estimated: $3.3¬†billion.
Mandel, 54, founded Greenwich-based Lone Pine Capital. Its hedge funds are often among the top-performing in the world. Estimated: $1.7 billion.
 Thomas Peterffy
Peterffy, 66, is chief executive of Greenwich-based Interactive Brokers Group, an electronic market maker and broker specializing in options. An immigrant from Hungary, Peterffy started his career as a computer programmer. Estimated:  $1.4 billion.
C. Dean Metropoulos
An investor who has put his money into Vlassic pickles, Ghirardelli chocolate and Bumble Bee tuna, Metropoulos, 64, also paid a quarter of a billion dollars for Pabst Brewing, maker of Pabst Blue Ribbon and Old Milwaukee. Estimated: $1.2 billion.
William Macaulay
Macaulay, 65, is chairman and chief executive of First Reserve Corp., the biggest private-equity investor in the energy sector with more than $21 billion AUM. Estimated: $1.1 billion.

This is an actual home that was made using a retired 727 
According to analysts at Capital Economics, due to the continued depreciation of residential property values at the end of 2010, housing is more undervalued than ever before. Based on Case-Shiller housing index the 4th Q of 2010, housing was 21% undervalued as compared with disposable income per capita and 15% undervalued as measured against disposable income according the FHFA.
Lower prices + low interest rtes = lower monthly mortgage payments. On median priced housing purchased with a 20% down payment, is at record lows of 13% of median income – according to Capital Economics.
The recent de-valuing of housing stock seems to be attracting cash investors – and according to Capital Economics, are driving 70% of the increase in existing home sales since last July, whereas first time home buyers account for just 6% of the increase in sales of existing homes….Man up – it’s time to buy.