Archives for the month of: November, 2014

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323 Cognewaugh
323 Cognewaugh Rd – List $1,195,000

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First asking $1,2395,000 85 days ago, this 30’s colonial farmhouse has an accepted offer…
To see the full listing click here:

http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=91296&display_page=1&lpp=20&index=1&total_listings=1&from=results
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7 Mill Pond Court – Asking $1,150,000
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The listing does not indicate the SF, but the tax records show it to be 1484 SF, 4 Bedrooms, 2.1 baths, .2 acres – small but cute.
To see the full listing click here:
http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=91981&display_page=1&lpp=20&index=1&total_listings=1&from=results

323 Cognewaugh

323 Cognewaugh Rd – List $1,195,000

Screen shot 2014-11-27 at 7.02.32 AM

First asking $1,2395,000 85 days ago, this 30’s colonial farmhouse has an accepted offer…

To see the full listing click here:

http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=91296&display_page=1&lpp=20&index=1&total_listings=1&from=results

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7 Mill Pond Court – Asking $1,150,000

Screen shot 2014-11-27 at 7.05.10 AMThe listing does not indicate the SF, but the tax records show it to be 1484 SF, 4 Bedrooms, 2.1 baths, .2 acres – small but cute.

To see the full listing click here:

http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=91981&display_page=1&lpp=20&index=1&total_listings=1&from=results

 

215 Milbank Closed today for $2.1M – which is the amount of the mortgage taken in 2008. The bank has it appraised for what was the original asking price $3.5 – so it appears that the buyer got a great value. They may considering trying to challenge the value in order to lower their taxes…
215 Milbank
215 Milbank Aveune – E

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31 Boulder Brook
31 Boulder Brook – Closed $2,934,000

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Sellers bought this 4 bedroom 3.2 bath 1.43 acre property in 2006 for $3.6M – I’m sure not thrilled with the sale, but having bought it in the frenzied 2005-2006 market they should be. It’s not great construction, in my opinion, but they added on, with the 3 car garage, creating perceived value. It is a bit off the beaten path yet not so far from town.

215 Milbank Closed today for $2.1M – which is the amount of the mortgage taken in 2008. The bank has it appraised for what was the original asking price $3.5 – so it appears that the buyer got a great value. They may considering trying to challenge the value in order to lower their taxes…

215 Milbank

215 Milbank Aveune – E

Screen shot 2014-11-26 at 11.42.25 AM

31 Boulder Brook

31 Boulder Brook – Closed $2,934,000

Screen shot 2014-11-26 at 11.44.29 AM

Sellers bought this 4 bedroom 3.2 bath 1.43 acre property in 2006 for $3.6M – I’m sure not thrilled with the sale, but having bought it in the frenzied 2005-2006 market they should be. It’s not great construction, in my opinion, but they added on, with the 3 car garage, creating perceived value. It is a bit off the beaten path yet not so far from town.

 

I recently had a conversation with someone who asked me to throw a number at a foreclosed property in Cos Cob. He said, “Offer $150K” – it’s bank owned – they’ll take it because banks get penalized for having these properties on the books”…I realize that banks don’t want to be in the real estate business, but if the bank is private, they certainly can wait it out…and nobody is giving anything away, with the rare exception if it’s between family members. Even that doesn’t happen that often any longer. Hell, you’re lucky if you get a listing from a family member! There are no gimmes

Of course, I didn’t pick up the phone for this ridiculous conversation, but I was curious – what was the low of the low in the past year in Greenwich…

Cross property search  for sold properties on the Greenwich MLS in the last 365 days from $0 – $300K in all areas of Greenwich – yielded 12  sales – all condos and coops.

Between $300K and $500K – there were a total of 54 in the last 365 days – mostly condos and coops with a few single family sprinkled in Byram, Pemberwick the foreclosed Ferris cottage in OG and the Cary Rd property in Riverside.

Land Sales for the last 365 days in all areas of Greenwich, form $0 – $500K  totaled 7 – none of which were in the vicinity of $150K…Here’s the list


  • 23 Nicholas Ave – Glenville – $185K – .14 Acres in R7
  • 30 Glenville St = $255K – .16 acres in R7 –
  • 22 Hollow Wood Lane – $362K – .14 acres in R6
  • 28 Caroline Place – $375K – .17 acres in R7
  • 502 E Putnam Ave – $400K – .34 acres in R6
  • 46 Havemeyer Lane – $387,500 – .19 acres in R7
  • 0 Valley Rd Cos Cob – $467,500 – .53 acres in R12 – this last one comes closest as a comp for the subject property – although it’s a far cry – same zoning and the lot configuration and size were better and larger for the ability to build a larger home


So discounting the fact that the subject property is .23 acres and only has FAR for 3500SF,  that this gentleman thought deserved a $150K offer – it still should get something between $395,000 and $450,000 

Get real

I recently had a conversation with someone who asked me to throw a number at a foreclosed property in Cos Cob. He said, “Offer $150K” – it’s bank owned – they’ll take it because banks get penalized for having these properties on the books”…I realize that banks don’t want to be in the real estate business, but if the bank is private, they certainly can wait it out…and nobody is giving anything away, with the rare exception if it’s between family members. Even that doesn’t happen that often any longer. Hell, you’re lucky if you get a listing from a family member!

Of course, I didn’t pick up the phone for this ridiculous conversation, but I was curious – what was the low of the low in the past year in Greenwich…

Cross property search  for sold properties on the Greenwich MLS in the last 365 days from $0 – $300K in all areas of Greenwich – yielded 12  sales – all condos and coops.

Between $300K and $500K – there were a total of 54 in the last 365 days – mostly condos and coops with a few single family sprinkled in Byram, Pemberwick the foreclosed Ferris cottage in OG and the Cary Rd property in Riverside.

Land Sales for the last 365 days in all areas of Greenwich, form $0 – $500K  totaled 7 – none of which were in the vicinity of $150K…Here’s the list

23 Nicholas Ave – Glenville – $185K – .14 Acres in R7

30 Glenville St = $255K – .16 acres in R7 –

22 Hollow Wood Lane – $362K – .14 acres in R6

28 Caroline Place – $375K – .17 acres in R7

502 E Putnam Ave – $400K – .34 acres in R6

46 Havemeyer Lane – $387,500 – .19 acres in R7

0 Valley Rd Cos Cob – $467,500 – .53 acres in R12 – this last one comes closest as a comp for the subject property – although it’s a far cry – same zoning and the lot configuration and size were better and larger for the ability to build a larger home

So discounting the fact that the subject property is .23 acres and only has FAR for 3500SF,  that this gentleman thought deserved a $150K offer – it still should get something between $395,000 and $450,000

Get real

 

 

 

Showing the premium of Old Greenwich versus Banksville Border – not exact comps but not far off either….

9 Lejeune COurt
9 Lejeune Court – Old Greenwich – $1,030,000

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31 The Avenue
31 The Avenue – $750,000

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Showing the premium of Old Greenwich versus Banksville Border – not exact comps but not far off either….

 

9 Lejeune COurt

9 Lejeune Court – Old Greenwich – $1,030,000

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31 The Avenue

31 The Avenue – $750,000

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