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Greenwich Q4 2020 Market Report

Open Kimono in Real Estate

16 COTTONTAIL RD – COS COB – LIST 1,250,000

I have to give it to the agent who represented this 1967 colonial in all of it’s authenticity.

A contract was reported yesterday after 344 days on market. Original price 1,399,000

Through the lens of the photographer, what he/she saw, is what the internet got!

Some, may have shown this shot to the exclusion of many others..

… this little pictorial ends with a refreshed deck – an image of what could be.

 

Dog Eat Dog

It’s a tough business. The 1st agent tees it up. The 2nd agent gives more to take different photos, inform/convince the seller that it really is the market that sets the price and eventually gets one or two price reductions. Then, it’s usually the third that breezes in, after seller and market fatigue and clinches the deal.

In this case, it was agent #four. And I must say, that the 3rd agent only had 56 days @ $1,795,000 and it was still winter – so the photos showed the house in all it’s glory, and not veiled behind Japanese Maple and leaves.

300 Stanwich Rd Now

To See 300 Stanwich Rd Click Here

$1,750,000

It suffered a long history, during it’s 688 days on market, starting in 2015 @ $2,495,000

Pricing Your Property Too High – Sellers’ Slippery Slope…

If you think that pricing your home over the market, in the hopes of catching the big one – forget it – it’s like salmon swimming upstream.

If you haven’t read the memo, or your realtor just takes orders, you should know that buyers want a value, or they just want to move in. They are not settling for anything less. If it’s not relevant inside, the price will have to be attractive…with a few cheap fixes, you’ll get better photography, more showings, and at lest the odds will stack up a bit better for the seller.

TO SEE THE FULL LISTING CLICK HERE:

http://www.debhalsey.com/Web/AR480203/ListingSearch/details/?mls_id=CT-GWMLS&mls_no=86612&display_page=1&lpp=20&index=1&total_listings=1&from=results

Take 27 Khakum Wood Rd – lovely location, with prices that support the asking price – just got a million dollar reduction. Starting at $5,900,000 in April 2013, it sat at this price for 6 months. The biggest problem with this house as I remember, is that the floor plan is not ideal…the kitchen if I remember is off to the left  –  on the other side of the stairway – and it’s a small space…..so you’re looking at a major renovation without even going upstairs, or having to remove wallpaper everywhere….then upstairs is typical of many older homes, with small bedrooms. In this case the master is a suite, but not in the scale that buyers expect at this price.

27 Khakum Wood Rear
27 Khakum Wood Rd – Reduced $1M – Now $4.6M

As handsome as the exterior is, and as lovely as the lot is (oversized in RA2)…I predict that this will sell for something closer to $4m even slightly under that. Buyers are factoring in the cost of renovation when making an offer…with consideration of course to the location. If it had started closer to $4,595,000, it perhaps could have fetched $4.3. As you can see from the interior, every room tells a story, albeit an old one…

27 Khakum Wood Entrance
27 Khakum Wood Entrance

27 Khakum Wood Liivng
Living Area – This Would be the Perfect Room to Feature Comfortable Tonal Furniture

27 Khakum Kitchen
A Stretch at the Original Asking Price of $5,900,000

27 Khakum Bedroom
Get Rid of ANYTHING Floral – Wall to Wall unless its natural…

27 Khakum Wood Dining
Modern Chairs Surrounding this Table – Get rid of All the Little Pieces

27 Khakum Whatever Room
Too Much Furniture Makes a Room Look Small

27 Khakum Master
Get Rid of the Flowers – Swags, Canopy, Wallpaper Border – Again too Much Furniture – Clear the Mantle

27 Khakum Bedroom 3
Clear the Radiator Covers – The Images are too Large for the Wall Scale – Makes the Room Look Even Smaller than it is.

27 Khakum Bedroom 2
Again – the Floral on Floral, reads Old on Old….Clear the Collections from the Dresser. and Old Electronics Date a House….that TV in the corner…