Although entirely different price ranges, these 2 properties have the similar market stories….and there are many others just like them…
After meeting with owners recently who also bought in 2004, disheartened and not willing to bend to the current market (quelle surprise!), this story is a direct corollary – with one exception. The owners of the 2 properties in contract realized that the market is the market – regardless of what they paid and how much they spent on their home during the time that they lived there. And not only aren’t they getting out whole, they are selling below what they paid 10 years ago. Tough pill to swallow for many.
Both sellers bought at the height of the market 2004/2005 Both have over 300 days on market Both are currently listed below the seller’s purchase price Both started their listings at a slightly higher price than their purchase price
1 MIDWOOD RD
81 SAWMILL LANE
Built new in 1986, 81 Sawmill’s first owner bought it for $1,150,000 in 1989. …then sold it 5 years later 1994 for $1,340,000 +16%. 5 years after that, in 1999, it sold for $1,850,000 +38%. Then the seismic jump to $2,995,000 +61% in 2005.
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!