Real estate news! | For What It's Worth

Yes, it?s back, after a two-week hiatus occasioned by Hurricane Sandy. Here are some highlights:

A condo at 77 Havemeyer Lane sold, full price, for $903,350. Units in this development on the Old Greenwich /Stamford (but entirely in Stamford) border are really beginning to sell after long years of zoning lawsuits, financial woes of the original developer and lousy market conditions. All that seems to have been resolved and things are looking busy over there. Which is great, both because it gives Greenwich residents looking to downsize a nice alternative to less convenient, older yet more expensive Lyons Farm condos and for the rest of us a thriving micro-community on our border instead of an abandoned failure. Good news all around.

195 Bedford, asked $2.350, got $1.945.

23 Dorchester, Riverside, sold for $1.150 which I believe a couple of my clients will confirm was what I thought it would go for. Plain vanilla, but walking distance to the schools and train, nice street.

47 Indian Field Road has a contract. It was asking $989,000 but it?s in such very rough shape I?m a little surprised it?s found a buyer so quickly. But it?s a non-conforming three-family on a large lot so that?s something. It?s going to swallow a lot of money before its ready for occupant, though.

15 Delwood

15 Delwood (off of Old Church Road) on the other hand is in incredible shape. Even at its asking price of $4.495, I thought this was a good value (its owner paid more for it when it was new). Beautiful house, no yard ? if you can live with that, what a great location and home. My clients were tempted but ultimately elected to buy something else with a larger yard to accommodate their swarm of young children, and that?s perfectly understandable. But I?m not at all surprised it found another buyer so quickly.

99 Londonderry, asking $1.995, also has a contract. Backs up to the Burning Tree golf course and that?s nice but if someone is paying more than land value for this house then he has a different estimation of what renovation costs ail run to.

And 505 Indian Field Road in Mead Point has a contract, direct sale. Asking $8.750 million, I wrote about this house when it first came on the market, saying that I thought it was well priced for direct waterfront in this location. I haven?t changed my mind. And the existing house, sure to hit the dumpster, is high enough up to escape the worst of the storm surge.

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Source: http://christopherfountain.wordpress.com/2012/11/13/real-estate-news-8/

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