It’s always a challenge to convince a seller that the market is not willing to meet the original purchase price of their property. Commodities and markets are always in flux, and some people just don’t time it right.
This property was purchased for $5M in 2004. They tried to sell it for $5,850,000 in 2010 – obviously trying to capture their costs of renovations (another mistake since everyone’s tastes are different). The price eventually dropped to $3,990,000.
The new listing claims that the “interiors have been re-imagined” – but there are no interior shots available to share with you…
Another way to look at it, is that the seller has lived in the property for 10 years. If he had rented a similar home, the monthly cost conservatively would have been $15K or $180,000 – over 10 years – $1,800,000. He should be happy with $4M.
CLOSE TO TRANSPORTATION – JUST A HOP/SKIP TO THE NORTH ST EXIT
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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