Fellow Columnists
Cross Talk
My friend and fellow columnist Bud Dealy has generated a fair amount of heat recently by opining that the Havemeyer area in Old Greenwich is a “$600,000 neighborhood.” Bud is an excellent Realtor whose own listings are, invariably, intelligently priced; a term, by the way, that is not interchangeable with “cheap” or “below market”. Bud holds the record for Valley Road, a $3,000,000 listing he brought on last fall and sold the first day. That said, and with all due deference, I disagree with his general valuation of Havemeyer as an area that won’t support prices higher than the sixes. I sold a home there in January for $762,500 and the seller received several higher offers after we had gone to contract. 32 Nimitz sold last fall for $640,000 and, having been renovated, went to contract this week somewhere in the $900’s. 17 North Ridge, new construction, sold in November for $990, a great ranch at 12 Cross Ridge; 1/2 acre and a pool, went in a bidding war for $809 and 12 Pleasant View Place sold two years ago for $895. I have not been inside the home being constructed at 14 Pleasant View but if the quality I see on the outside is carried through to its interior, then, given its great views and location on such a nice, dead end street, I wouldn’t be surprised if it sold at $1.5.
It is true that Havemeyer lagged behind other areas of town for years, with houses selling in the $4s when comparable houses were selling for $600K. My brother Gideon and I used to speculate (idly, alas, and not financially) on when Havemeyer would awaken and catch up with other parts of town. It has now done so, with a vengeance. I wouldn’t toss darts blindfolded at a street map and buy just anything the missile landed on, but there are some excellent streets in the neighborhood and, I think, some very good investment opportunities.
Moving On Up
For those readers with the ability to add a few zeros to the prices described above, David Ogilvy has a absolutely unique $8,000,000 home for sale in Belle Haven. Built in 1895, “The Boulders” could be described as a “shingle style” if it weren’t made of brick and faced with huge granite boulders (I know, if we had ham we could have ham and eggs, if we had eggs—humor me). This place is great, in every sense of the word. Beautifully restored, in immaculate condition, magnificent public rooms, a secluded library and bedrooms galore. There is a secret circular stair behind a closet door in the library (there went that secret) that winds through all three floors. Brass speaking tubes connect the master bedroom with the kitchen and other servants’ hiding places and the grand stairway in the hall has perfectly placed risers which will enable the most clumsy daughter to float gracefully down on her wedding day. The Boulders is serious money, but is a truly fun house. If you envied the Galbraith children when reading Cheaper by the Dozen, this is the house for you (and your millions).
What’s Selling?
Houses going to contract in the past couple of weeks include: 49 Round Hill Road, $9,995,000 (these are the last asking prices); 81 Butternut Hollow, $9,500,000 22 Perkins Road, $5,600,000; 50 Bush Avenue, $3,650,000;18 Chieftans Road, $3,450,000; 60 Shore Road, $2,925,000; 40 Pecksland, $2,495,000; 54 Doubling, $1,595,000; my old boss and mentor, Charlie Mosher’s home at 17 Norton Lane, $1,445,000 (nice house, good buy), and so on. All areas of town, all price ranges. The one common theme, especially for those selling within 60 days of being put on the market, is price: they represent good value compared to other homes in their respective price ranges. The market recognizes and rewards this.
Bwaaaa!
A newly constructed house that I had hoped to list was recently brought to market by another agent. Nothing unusual about that, but the listing broker is someone who has never to my knowledge been spotted at an open house. Not once. Her knowledge of current market conditions is about as extensive as that of my dog’s, and my dog died last year. Most of us hard working types don’t mind freely giving you our time and opinions, but if you choose to use another agent, at least salve our pride a little bit by hiring a professional instead of a hobbyist, won’t you? PS: she’s over-priced your house.
My friend and fellow columnist Bud Dealy has generated a fair amount of heat recently by opining that the Havemeyer area in Old Greenwich is a “$600,000 neighborhood.” Bud is an excellent Realtor whose own listings are, invariably, intelligently priced; a term, by the way, that is not interchangeable with “cheap” or “below market”. Bud holds the record for Valley Road, a $3,000,000 listing he brought on last fall and sold the first day. That said, and with all due deference, I disagree with his general valuation of Havemeyer as an area that won’t support prices higher than the sixes. I sold a home there in January for $762,500 and the seller received several higher offers after we had gone to contract. 32 Nimitz sold last fall for $640,000 and, having been renovated, went to contract this week somewhere in the $900’s. 17 North Ridge, new construction, sold in November for $990, a great ranch at 12 Cross Ridge; 1/2 acre and a pool, went in a bidding war for $809 and 12 Pleasant View Place sold two years ago for $895. I have not been inside the home being constructed at 14 Pleasant View but if the quality I see on the outside is carried through to its interior, then, given its great views and location on such a nice, dead end street, I wouldn’t be surprised if it sold at $1.5.
It is true that Havemeyer lagged behind other areas of town for years, with houses selling in the $4s when comparable houses were selling for $600K. My brother Gideon and I used to speculate (idly, alas, and not financially) on when Havemeyer would awaken and catch up with other parts of town. It has now done so, with a vengeance. I wouldn’t toss darts blindfolded at a street map and buy just anything the missile landed on, but there are some excellent streets in the neighborhood and, I think, some very good investment opportunities.
Moving On Up
For those readers with the ability to add a few zeros to the prices described above, David Ogilvy has a absolutely unique $8,000,000 home for sale in Belle Haven. Built in 1895, “The Boulders” could be described as a “shingle style” if it weren’t made of brick and faced with huge granite boulders (I know, if we had ham we could have ham and eggs, if we had eggs—humor me). This place is great, in every sense of the word. Beautifully restored, in immaculate condition, magnificent public rooms, a secluded library and bedrooms galore. There is a secret circular stair behind a closet door in the library (there went that secret) that winds through all three floors. Brass speaking tubes connect the master bedroom with the kitchen and other servants’ hiding places and the grand stairway in the hall has perfectly placed risers which will enable the most clumsy daughter to float gracefully down on her wedding day. The Boulders is serious money, but is a truly fun house. If you envied the Galbraith children when reading Cheaper by the Dozen, this is the house for you (and your millions).
What’s Selling?
Houses going to contract in the past couple of weeks include: 49 Round Hill Road, $9,995,000 (these are the last asking prices); 81 Butternut Hollow, $9,500,000 22 Perkins Road, $5,600,000; 50 Bush Avenue, $3,650,000;18 Chieftans Road, $3,450,000; 60 Shore Road, $2,925,000; 40 Pecksland, $2,495,000; 54 Doubling, $1,595,000; my old boss and mentor, Charlie Mosher’s home at 17 Norton Lane, $1,445,000 (nice house, good buy), and so on. All areas of town, all price ranges. The one common theme, especially for those selling within 60 days of being put on the market, is price: they represent good value compared to other homes in their respective price ranges. The market recognizes and rewards this.
Bwaaaa!
A newly constructed house that I had hoped to list was recently brought to market by another agent. Nothing unusual about that, but the listing broker is someone who has never to my knowledge been spotted at an open house. Not once. Her knowledge of current market conditions is about as extensive as that of my dog’s, and my dog died last year. Most of us hard working types don’t mind freely giving you our time and opinions, but if you choose to use another agent, at least salve our pride a little bit by hiring a professional instead of a hobbyist, won’t you? PS: she’s over-priced your house.
posted by Chris Fountain at 9:01 AM
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