Bad Boys
All over town there are construction projects going nowhere, with big red “stop work” orders stapled in front. This is what happens when builders try to pull fast ones. Jim Maloney, Greenwich’s Zoning Enforcement officer, tells me that we must be the insect capital of the world, because these builders take out renovation permits and then “discover” serious infestation problem requiring them to tear down the structure they claimed they would renovate. I’m reminded of the “two beer defense’ we used to hear in criminal law: despite all evidence to the contrary, every falling-down drunk would swear to the heavens that he’d had only two beers. We didn’t believe them; Mr. Maloney doesn’t believe the arachnophobic builders, and shuts them down when they exceed the scope of the work they claim they’ll be doing. Good for him and good for our town.
Our Building Department is a lot more accommodating to private homeowners who start their own renovation projects without permits: new windows, perhaps. Or, more frequently, hire a contractor to do the work and believe their builder’s assurance that they don’t need a permit. When they go to sell their house, difficulties ensue. We’ll discuss this more innocent activity next week.
Bargain Homes
Here are some surprisingly good deals: An English Cotswald at 14 Dearfield Lane, $595,000; 2 Forest Avenue, new construction, $625,000; 3 bedroom home at 7 Mahr Avenue, $657,000; 14 Nawthorne Road, 5 bedroom Victorian, $940,000; 22 Pecksland Road, $1,375,000; and 1 Deer Park Court, pre-war Georgian, 7 bedrooms, 6 baths, 10’ ceilings, recently renovated, beautiful grounds, 4 car garage, on almost two acres, $3,200,000.
Unfortunately, all these homes were sold in 1989. I remember the time well; people were discussing Greenwich’s crazy pricing and predicting a rapid collapse to more sustainable numbers. Those same people are still waiting, just like the plumber I worked with one summer in the 70’s. That unfortunate gentleman told me that he was still renting a house in Byram because in the early 1960’s, when he could have bought a house for $15,000, he listened to his father and decided to wait for prices to regain their senses.
You don’t have to have grown up in town to value Greenwich real estate, but it helps. Watching my grandmother’s $17,000, 1957 purchase appreciate to $2,000,000 today is a good lesson in faith. A friend of mine’s father sold his home on Bramble Lane in 1973 for $75,000 and felt guilty because he’d paid $14,000 for it right after World War II. That emotion changed to something else when I visited him two years later in New Hampshire and informed him that his buyer had just re-sold the place for $150,000. If he were still alive today, I wonder what his reaction would be to hear of its most recent sale price: $1,500,000. You can certainly over-pay for real estate in town, and you’ll lose money if, having done so, you attempt to re-sell the property within a year or two. But if you work with a competent agent or merely stay put for awhile, you’ll do just fine. Buyers in this town always have and I believe they always will. My plumber friend, on the other hand, never did.
Grand Old Dame
Evan Salamore (Weichert) has a listing at 212 Bedford Road that’s really something. Built in 1840, “Sunset Farm” comprises 9,600 sq. feet (including the 2 bedroom pool house ) on 3+ acres. The last time it was offered for sale it was almost torn down before the present owners bought it and restored it beautifully. There are nine bedrooms in the main house, a dining room that easily holds a twenty-seat table, great floors hallways and public rooms, what appears to be an old tavern, complete with fireplace, in the basement and access to the riding trails of the Back Country. $3.750, asking.
Radio Check?
The other day I heard that the Putnam Trust had just been robbed and I mentioned that news to one of our Greenwich Avenue gendarmes as I crossed the street. He hadn’t heard anything about it even though, at the very second we were having the conversation, that same robber was tooling down the Avenue to pull his second bank job of the day, presumably still wearing his disguise of bandages and a funny hat. I’m no cop and I certainly don’t want to play one on TV, but if we’re going to have trained, armed professionals directing traffic out there, wouldn’t it make sense to keep them in the loop on on-going crimes? Just a thought.
All over town there are construction projects going nowhere, with big red “stop work” orders stapled in front. This is what happens when builders try to pull fast ones. Jim Maloney, Greenwich’s Zoning Enforcement officer, tells me that we must be the insect capital of the world, because these builders take out renovation permits and then “discover” serious infestation problem requiring them to tear down the structure they claimed they would renovate. I’m reminded of the “two beer defense’ we used to hear in criminal law: despite all evidence to the contrary, every falling-down drunk would swear to the heavens that he’d had only two beers. We didn’t believe them; Mr. Maloney doesn’t believe the arachnophobic builders, and shuts them down when they exceed the scope of the work they claim they’ll be doing. Good for him and good for our town.
Our Building Department is a lot more accommodating to private homeowners who start their own renovation projects without permits: new windows, perhaps. Or, more frequently, hire a contractor to do the work and believe their builder’s assurance that they don’t need a permit. When they go to sell their house, difficulties ensue. We’ll discuss this more innocent activity next week.
Bargain Homes
Here are some surprisingly good deals: An English Cotswald at 14 Dearfield Lane, $595,000; 2 Forest Avenue, new construction, $625,000; 3 bedroom home at 7 Mahr Avenue, $657,000; 14 Nawthorne Road, 5 bedroom Victorian, $940,000; 22 Pecksland Road, $1,375,000; and 1 Deer Park Court, pre-war Georgian, 7 bedrooms, 6 baths, 10’ ceilings, recently renovated, beautiful grounds, 4 car garage, on almost two acres, $3,200,000.
Unfortunately, all these homes were sold in 1989. I remember the time well; people were discussing Greenwich’s crazy pricing and predicting a rapid collapse to more sustainable numbers. Those same people are still waiting, just like the plumber I worked with one summer in the 70’s. That unfortunate gentleman told me that he was still renting a house in Byram because in the early 1960’s, when he could have bought a house for $15,000, he listened to his father and decided to wait for prices to regain their senses.
You don’t have to have grown up in town to value Greenwich real estate, but it helps. Watching my grandmother’s $17,000, 1957 purchase appreciate to $2,000,000 today is a good lesson in faith. A friend of mine’s father sold his home on Bramble Lane in 1973 for $75,000 and felt guilty because he’d paid $14,000 for it right after World War II. That emotion changed to something else when I visited him two years later in New Hampshire and informed him that his buyer had just re-sold the place for $150,000. If he were still alive today, I wonder what his reaction would be to hear of its most recent sale price: $1,500,000. You can certainly over-pay for real estate in town, and you’ll lose money if, having done so, you attempt to re-sell the property within a year or two. But if you work with a competent agent or merely stay put for awhile, you’ll do just fine. Buyers in this town always have and I believe they always will. My plumber friend, on the other hand, never did.
Grand Old Dame
Evan Salamore (Weichert) has a listing at 212 Bedford Road that’s really something. Built in 1840, “Sunset Farm” comprises 9,600 sq. feet (including the 2 bedroom pool house ) on 3+ acres. The last time it was offered for sale it was almost torn down before the present owners bought it and restored it beautifully. There are nine bedrooms in the main house, a dining room that easily holds a twenty-seat table, great floors hallways and public rooms, what appears to be an old tavern, complete with fireplace, in the basement and access to the riding trails of the Back Country. $3.750, asking.
Radio Check?
The other day I heard that the Putnam Trust had just been robbed and I mentioned that news to one of our Greenwich Avenue gendarmes as I crossed the street. He hadn’t heard anything about it even though, at the very second we were having the conversation, that same robber was tooling down the Avenue to pull his second bank job of the day, presumably still wearing his disguise of bandages and a funny hat. I’m no cop and I certainly don’t want to play one on TV, but if we’re going to have trained, armed professionals directing traffic out there, wouldn’t it make sense to keep them in the loop on on-going crimes? Just a thought.
posted by Chris Fountain at 10:39 AM
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