It happens all the time… and this one is a perfect example. Every property has a value, and even properties with less “desirable” locations will eventually sell. If the owners/partners don’t get their price, they often go to the rental market. Hopefully, a tenant will cover most of the carrying costs…..but days, often years on market – until….ding, ding, ding – PRICE DROP.
45 Meadow Wood, as it stands, debuted in 2007 for $17,900,000. It is in Belle Haven, but very close to 95 – never attractive and always a loooong shot at getting full price…
6 years later, a couple of agents, and 3 million less – now offered at $14,900,000 – Finally, at Coldwell Banker with Tamar Lurie, it’s at the right price!
329 Riversville Rd – Looking up at the Merritt – in contract – List $2,695,000 – cannot wait to see the final number – 500 – + days on market
28 Brynwood Lane – Overlooking the Merritt – first asking $3,850,000 (and I’m sure that had the builder been able to stick it out, he would have dreamed of getting at least $5M – since the homes at the beginning and middle of the street are worth approximately $4.5M – $6.5) 28 finally sold half finished for just over $2M – It sat on the market for 300 days.
309 Taconic Rd – on the border of Stamford (always a discount) – on the market since 2005 – it started at $26M – up and down – 3 or 4 realtors finally expired once again at $9.7 and rented for $30K/Month after asking $35K
I could go on, and on….
Builders/LLC’s would be well advised to hire a realtor before construction or re-packing begins, to determine location versus – rather than expecting them to market an overpriced property.
The art of the deal transcends all businesses, and more so in real estate than in many other professions. For the client, it's often an emotional purchase or sale, rather than a simple commodity or luxury item. I make it my mission to have each side come to terms with a transaction that works for everyone. It's not always easy, but good things in life usually take effort - something from which I've never shied.
Licensed since 2009 as a real estate sales agent in CT & NY, I often work with clients on the border of both areas.
With sales and distribution experience for luxury designer products, and watching/reacting to the markets, my acumen for sales was established. Achieving success and contributing to the growth of many global apparel designer brands, such as Giorgio Armani and Paul Smith for over 20 years, it was time for a change. I wanted to explore another passion that would keep me in one location rather than traveling the globe.
Now I have the best of both worlds, a successful business as a fulfilling personal life. My husband and I have lived in back country Greenwich since 2003, where we enjoy easy access to great biking, hiking and golf. We love to ski and that's usually where our travel takes us.
Life is good in Greenwich!
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