Price Is Everything

Posted on by DEB HALSEY REAL ESTATE
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Supply / Demand / Competition The supply has increased. The demand has dwindled. The competition is stiff.  So it’s no surprise to see a property like 2 Dewart Road getting a deal at a 2.5M when the seller bought it for 3,190,000 nearly 20 years ago. The listing began in February 2018 at an aggressive 4,750,000 price tag and has surprisingly stayed with the same agent. It’s listed for both residence as well as land.

Now there’s always the possibility that it goes over list price, however, this usually happens closer to the time that a property re-prices. 2 Dewart’s price was reduced to its current list on 7/12/19 – so time will tell…

So Many Changes Too Little Time!

Posted on by DEB HALSEY REAL ESTATE
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On one MLS the price is $2,195,000 – on the other it’s $2,265,000 and just a minute ago it was $1,995,000 (which in my opinion was the smartest price for this property). Perhaps it’s because we can change our own listings real time on the CMLS.

It started in 2014 as 152 Cutler Road – perhaps 188 Bedford Road sounds like it’s closer to town? Perhaps Bedford Road has more cache – well one end of Bedford perhaps….
A 70’s contemporary on 4 acres, I would say, get serious and price it according to the market. After beating your head against the wall, that’s where you will get an offer anyway.
2014
175 days starting at $2,995,000 expiring @ $2,695,000 didn’t stand a chance
169 days EXACTLY THE SAME PRICING “strategy” (insanity is doing the same thing over and over again with the same results)
June 2015 starting at $2,265,000, then $1,995,000 and now $2,195,000  
!@#$%^&*()_+_)(*&^%$#@!@#$%^&*()_)(*&^%$#@#$%^&*()_)(*&^%$#@$%^&*()_)(*&^%
 
TO SEE THE FULL LISTING CLICK HERE

1 Contract + 1 New Listing

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323 Cognewaugh Rd – List $1,195,000

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
7 Mill Pond Court – Asking $1,150,000
 
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

Price Reductions – Some will Get a Bite, Others a Nibble and Maybe One will get Thrown Back in the Water

Posted on by DEB HALSEY REAL ESTATE
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52 Hunt Terrace should get a bite – Good house and there is price resistance over $1.5 in this area – this one started close to $1.4…this West side of town often attracts former NY’ers. Click here to see the full listing: http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=90774&display_page=1&lpp=20&index=1&total_listings=1&from=results
6 Kenilworth Terrace -should get a bite…North Street Schools and it is fairly priced. Nice 1 acre lot – 5 bedrooms, 4+ baths. Well Built To see the full listing, click here: http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=90032&display_page=1&lpp=20&index=1&total_listings=1&from=results
79 Duncan Dr – Maybe some nibbles – I think that we’ll see another price reduction before this gets a buyer, just my opinion. A) Not a ton of demand for 70’s contemporaries, B) Much of it needs to be updated. The pros are that it is in great condition, well-maintained and it is on a oversized lot. My crystal ball tells me somewhere around $1,900,000 would get it done.To see the full listing, click here: http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=91587&display_page=1&lpp=20&index=1&total_listings=1&from=results
32 Sawmill Lane – Good house – Priced Fairly and will most likely get the same number that the sellers paid 3 years ago – $2,975,000. To see the full listing, click here: http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=90812&display_page=1&lpp=20&index=1&total_listings=1&from=results
255 Round Hill Rd – Maybe some nibbles – An authentic Tudor built in the 20’s – and needing lots of updates. Biggest disadvantages here, is that it is a big house to renovate, it has market fatigue from over pricing in the past, and buyers are no longer nostalgic about renovating a classic. 8700 SF on 3 acres in 2 acre zoning. To see the full listing, click here: http://www.debhalsey.com/Web/AR480203/ListingSearch/load_saved_search/?display_action=details&ss_id=5303913&mls_id=CT-GWMLS&mls_no=89563&total_listings=438&lpp=20&display_page=1&index=4
19 Hidden Brook Rd – Maybe some Nibbles – Great House – the biggest disadvantage is that it is sandwiched between neighbors, so when you’re sitting in your pool, your neighbors may as well be there as well. But hey, it’s Riverside, and that’s what buyers seem to be paying premiums for this year. I shake my head. To see the full listing click here: http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=90700&display_page=1&lpp=20&index=1&total_listings=1&from=results
48 Round Hill Rd – Now $10,350,000 – Throw is back in the Water for now – Reduced from $12,000,000. The sellers paid $4,425,000 in 1998 and the town has it appraised below that at $4,073,000…soooo not sure where $12M came from…last renovated in 1999 – yup….
To see the full listing, click here: http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=90785&display_page=1&lpp=20&index=1&total_listings=1&from=results

Slim Pickins’ Create Bidding Wars

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There were obviously at least two parties fighting over a tiny house (2213 SF), on a tiny lot (.228), RA7 zoning (densely populated) with absolutely no air conditioning (the listing excluded the window unit) and an awkward addition. And depending on how you interpret it, it’s located on a cul-de-sac, which is a dead end street with a turn around.
9 DURKIN PLACE  – LISTED FOR $1,149,500 – FETCHED $1,170,300

9 DURKIN IS THE PROPERTY RIGHT SMACK IN THE MIDDLE
The market  is what it is – it’s slim pickins’ in this price so  it’s not a shocker….
A FEAST!

and no matter how small 9 DURKIN appears, it is a bit roomier than a couple of others that these buyers must have compared, and with one more closet, I meant to say bedroom 🙂

"Those were the days my friends…

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…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 🙂

217 Taconic Road Sold Yesterday – $13M – New to Market is #309 Taconic $13,750,000

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217 TACONIC RD – GREENWICH – $13M

Massive house with quality workmanship and materials….I really liked this house, and I’m amazed that it sold for this amount, given that it is also inclusive of 11 beautiful acres. It also has a horse barn and the pool below has a beautiful pool house. It began its long market journey in 2007 for $24,000,000.

217 TACONIC POOL AND HOUSE – RIDING RING

No doubt that this had something to do with the pricing of 309 TACONIC ROAD – GREENWICH

NEW TO MARKET – 309 TACONIC ROAD – $13, 750,000
This is 4000 SF smaller, but nearly 10 more acres. Indoor pool, wine cellar, theater, 7 car garage…different features than 217.

It does have the same type of over pricing long history, and this time it’s seriously  priced to sell.
It’s a new year for the high end market – last year, this property expired at $9,750,000 but succeeded in leasing it for $30,000/mo. 217 Taconic by comparison only rented at the high of $24,500/month

93 Weskum Wood reports a contract today…this time pending, so it should be a done deal.

Posted on by DEB HALSEY REAL ESTATE
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It looks as though there is another deal for this property – not surprising, since the location is great and it is priced realistically at $2,395,000. It had had a contingent contract about a month ago, that fell through.

OVERLOOKING BINNEY PARK

46 PARK AVENUE OLD GREENWICH CLOSED TODAY – $ 3,075,000

Posted on by DEB HALSEY REAL ESTATE
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46 PARK AVE OLD GREENWICH

Sellers bought this property in 2008 for 2,900,000 and sold it today for a smidgeon more – albeit they lived there for 6 years…no renovations, just, paint, style and upkeep…
Photography/composition and staging didn’t hurt the opportunity to get a quick deal, but it doesn’t show that it helped the price very much…
Location is everything…creative genius is required for more challenging locations…
Here are some 2008 vs 2014 photos – better furniture and photography today, but the incremental difference in the money isn’t relative.

ENTRANCE 2008
ENTRANCE 2014
LIVING ROOM 2008
LIVING ROOM 2014
FAMILY ROOM 2008
FAMILY ROOM 2014
MASTER 2008
MASTER 2014
GIRLS ROOM 2008
GIRLS ROOM 2014
BOYS ROOM 2008
BOYS ROOM 2014

With each photo, lighting form behind, capturing the windows creates more space and creates a more cheerful, upbeat effect.