Market Trends

Open House Pick for Tuesday 7/11/17

Posted on July 13, 2017July 13, 2017 by DEB HALSEY REAL ESTATE

9 OAKLEY LANE – GREENWICH – $10,950,000 – CLICK TO SEE LISTING

Beautiful large paned windows, soothing fawn wood color, fantastic stairway to the upper level, and I loved the honed marble entrance and choices of marbles for the baths.

Another Silver Properties / Granoff Architect property – same team as 49 Byfield in my previous post. Same MO with the raw flooring on the lower level. I asked if the price included any lower level finishes, and the builder answered that it would be part of the negotiation.

I get that the wine cellar may not be for everyone, and someone might want a major gym rather than a theater (both of which depreciate quickly – since tech changes with the wind). At least carpet floor to show the property after the initial introduction to market. It’s like going to an interview with impeccable credentials, but choosing to show up wearing the jacket without the pants or vice versa.

9 Oakley is nicely sited on an oversized lot. It’s only competition for new construction in this range might be 5 Brynwood Lane – but it is sited too closely to Round Hill which prevents a gracious entrance to the property.

2 new Luxury Listings – Get Real and Get the Deal

Posted on December 2, 2014 by DEB HALSEY REAL ESTATE

: 36 Day Rd – Greenwich/Armonk Border – $4,250,000

The seller bought this for nearly $600,000 more in 2006, and is obviously realistic about the fact that he bought it at the near height of the market, and realizes as well that properties North of the Merritt are not receiving the love that their in-town brethren are enjoying at the moment. It is priced as the town has it appraised…It is located on the Armonk line (with 8 acres in Armonk – separate taxes than what is indicated here), and the owners have the ability to send their children to either Armonk or Greenwich schools…

: 11 Partridge Hollow Rd – $6,695,000

The listing describes this property as having a “scenic Round Hill Road Approach” – realistically – it’s off Riversville – nothing wrong with that, I happen to think that Riversville is a beautiful country road…the interior is everything that everyone wants today – white, white and more white with wood floors. The taxes are surely not going to be what is indicated here…this is a new home, and the town will surely want their share of the new value, as opposed to the $1.5 where it is currently assessed. The sellers bought the property in 2013 for $1.6M. Seriously doubtful that they will get close to this price, when there is serious competition at the moment….

Unusual Waterfront Luxury Properties – One in Contract – The Other Waiting in the Wings

Posted on November 19, 2014 by DEB HALSEY REAL ESTATE

: 209 Long Neck Point – Darien – $12,500,000

One has to wonder, if 140 Wallacks Drive in Stamford would have a deal today, if it had begun it’s pricing journey similarly to 209 Long Neck @ $12M+. It’s long, continuing journey began over 1000 days ago when it was introduced at $18M. It is not listed on the Greenwich MLS – not smart…

There are considerations to pricing that go beyond the square footage and acreage – and these two properties tell that story. Pricing any waterfront property relies on where that shoreline is. Wallacks Drive is twice the square footage, nearly twice the acreage – so one would think that these differences would compensate for Stamford vs Darien.

Market trends rule – and may be one part of the reason that Long Neck has a deal and Wallack’s Drive does not.

Today’s buyer wants:

Relevant decor
Move in ready
Smaller Scale
Convenient Location

: 149 Wallacks Drive – Stamford – Caritas – Now $8,995,000

Posted on October 8, 2014 by DEB HALSEY REAL ESTATE

There are a few new listings today, but this one strikes me – 17 Oval Ave in Riverside is asking $1,895,000. The owners bought it in 2006 for $1,195,000 on an original asking price of $1,425,000. At the time is was 2100SF – it is now “expanded” to a whopping 2253 SF according to the tax record that the listing agent omitted from the listing.
What’s especially annoying, is trying to explain to a home owner who isn’t selling in Riverside, is why their property will not achieve similar results.

http://www.debhalsey.com/Web/AR480203/ListingSearch/results/

: Kitchen – it’s as good as it gets – low ceilings and narrow

: Master – Room for a King – but narrow with low tipped ceilings

Other New Listings:

DOES SIZE MATTER?

Posted on September 20, 2014October 10, 2015 by DEB HALSEY REAL ESTATE

There are (35) 12,000+SF properties currently listed on the Greenwich MLS. In the last 365 days there were (15) 12,000+SF properties that have closed. Among those that have closed since September 2013:

THE MOST EXPENSIVE: THE COPPER BEECH ESTATE – $120M – 13,519SF – 50+ ACRES

THE LEAST EXPENSIVE: 18 PORCHUCK RD – $3,650,000 – $12,330SF – 8.75 ACRES

THE LARGEST: 11 LANHORNE LANE – $17M – 26,415SF – 8.79 ACRES

THE SMALLEST: 107 LONG NECK RD – DARIEN – $14,900,000 – 12,000SF – 3 ACRES

FEWEST DAYS ON MARKET: 555 LAKE AVE – $25M – 18,954 – 8+ACRES – 4DOM

MOST DAYS ON MARKET: 11 LANGHORNE LANE – 629DOM

The most recent new 12,000 SF and over listing:

1 MEADOWCROFT LANE – ASKING $16,250,000

Not sure how the listing price is now 42.9% higher than when the sellers bought it in 2010…the market has not improved relative to the increased price. It is now furnished, so perhaps this will be a bargaining chip for an interested party? The space sometimes appears to have a retail sensibility:

THE MEN’S STORE

THE WOMEN’S STORE

THE TOY STORE

THE WINE STORE

THE GYM

2 Bidding Wars – A Land Sale and Single Family

Posted on August 22, 2014October 10, 2015 by DEB HALSEY REAL ESTATE

6 PLOW LANE – GREENWICH – 13 DAYS ON MARKET

.66 ACRES IN R20 – 20,000SF – started at $1,399,000 and closed today for $1,550,012

29 MIDBROOK LANE – OLD GREENWICH

Asking price was $1,243,500 – and closed today for an even $1,300,000 – 69 days on market.

"Those were the days my friends…

Posted on August 21, 2014October 10, 2015 by DEB HALSEY REAL ESTATE

…they thought they’d never end” – and they’re back for some areas of Greenwich – but not for back country – therein lies opportunity.

Take 170 Old Mill Road – just listed yesterday. It was purchased by the current owner in 2006 for $8,850,000 on an asking price of $,9,400,000. The buyer probably thought that he got a great deal at the time.

Today it’s back for $6,900,000 – hurts.

170 OLD MILL ROAD – GREENWICH

It’s been rented (although not through a realtor – through a friend, friend of friend, or party whisper) – so that part of the property history is not visible on the MLS. I met the renter at a public open house recently – my guess is that one of the properties in pending status within the same brokerage got his business…going directly to the listing broker…just a hunch based on his MO 🙂

You can be 159 Days on Market if you’re in Riverside – with no price reduction….

Posted on April 1, 2014October 10, 2015 by DEB HALSEY REAL ESTATE


16 STONEY RIDGE LANE – RIVERSIDE – IN CONTRACT

In Contract – List $3,625,000 – Sweet house…everything that everyone wants today – built out to the max (no yard) – traditional good looks exteriorly and clean “modernesque” interiorly – but the street is quiet (not that we ever see kids riding bikes around – except around the beach) The $3M mark in R-Side is now meat and potatoes. What a difference a storm makes!

Accepted Offer 18 Spezzano – Everything under a Million

Posted on October 28, 2013October 10, 2015 by DEB HALSEY REAL ESTATE

After just 109 days – tiny 18 Spezzano has an offer….

Of the 168 Single Family properties that have sold since the beginning of 2013 – 125 of them have sold within 200 days….

2 bedrooms – 2 baths – .11 Acres – 840 SF but FAR to grow. Zoning R7

We need more of these – please!

Market Activity Tuesday October 22

Posted on October 23, 2013October 10, 2015 by DEB HALSEY REAL ESTATE

65 Rockwood Lane – Greenwich, CT

SOLD

65 Rockwood Lane – in Golden Greenwich – was purchased by owners in 1995. It was on the market in 1999 fr $1,675,000 – then cancelled. Renovated in 2000, it was back on the market in October 2012 for $2,595,000 – after 346 days – $2,085,000. It is only 3 bedrooms, but has FAR to grow – which most likely will be it’s fate.

5 Keofferam – Old Greenwich

5 Keofferam surprisingly sold very close to asking price considering days on market were 445. A beautiful home, at the top of the street, so clear of flood zone and absolutely on move-in condition…which is exactly what the market is telling sellers to do, if they want their price.

23 Nicholas Ave

And then on the other side of town, 23 Nicholas Ave sold within 23 days – lesson: If it’s not in move-in condition – price it right. The buyer will no doubt invest a few dollars and will make a profit if it flips..

Asked $495,000 and got $490,000 after a few days.

ACCEPTED OFFERS

46 HAVEMYER PLACE – land sale asking $449,000

13 HENDRIE RIVERSIDE – what a surprise – asking $1,350,000