Older readers may remember the FIAT, which was run out of this country in 1978 or so because even Americans used to Detroit junk wouldn’t buy the horrible things. Poor quality was legendary – FIAT’s parting gift to these shores was the Yugo and the technology was so dated it made Renault look like a [...]
Entries from April 2009
April 30, 2009
Brought to you by your government and the UAW
April 30, 2009
Chrysler bailout – a very bad idea
As this WSJ blogger points out, Chrysler is bankrupt for the very good reason that they build awful cars
Did you watch the president’s press conference on Chrysler? It had an unhappy, foreboding air. No standing American president should be opining that the Chrysler-Fiat alliance has a “strong chance of success” or urging Americans to buy [...]
April 30, 2009
It’s official: Marisa Noel’s NYC cottage is available
Just $11.5 million. I always recommend to buyers that we do a little digging on a seller to find out if, say, they’re under any pressure to sell. That would probably pay dividends in this case.
April 30, 2009
Madoff market-making unit sold for $25 million
That’s $10 million more than originally bid, but quite a bit less than the “hundreds of millions” Bernie himself said the company was worth. Of course, Bernie had some difficulty estimating the value of a number of his assets.
April 30, 2009
(Some) Hedge fund managers shrugged
Three hedge funds owed money by Chrysler rejected the government’s effort to force them to accept the Chrysler bailout deal. Obama’s furious.
A person at a hedge-fund firm that owns Chrysler loans, speaking anonymously, told Dow Jones Newswires that the difference between what loanholders would get in bankruptcy and out of bankruptcy wasn’t that much, meaning [...]
April 30, 2009
Senate rejects mortgage cram downs
The bill, which passed the House by a huge majority, would have given bankruptcy judges the power to reset mortgage rates and principle amounts. The Senate will no doubt be accused of caving in to the banking interests but the argument against was that it would add uncertainty to mortgages and where there’s uncertainty, there’s [...]
April 30, 2009
As though Obama doesn’t have enough on his plate
General Petraeus warns of disastrous results if Pakistan falls to Taliban – could happen in two weeks. Petraeus has always struck me as a pretty cool dude so if he’s worried, so am I.
(Hat Tip, Instapundit)
April 30, 2009
This would stop threats from angry drunk builders but it seems a tad overbroad
Our government at work: bill proposed to expand law against internet users, this time to make it a felony to cause severe emotional distress. Seems like a lot of home sellers in greenwich could have a cause of action against me if this becomes law.
April 30, 2009
(From Just One Minute)
They told me that if I voted for McCain I’d have an idiot for a Vice President and they were right!
April 30, 2009
Fan mail from Alabama
Owed you an email for a month or so to say thank you.
My parents/family owned a condominium west of Pensacola, Florida for 20+ years which we sold in March ‘09 – after reading your blog I realized how important list pricing is in the real estate world and your blog convinced us to be realistic [...]
April 30, 2009
Seller’s remorse?
Just had a proposed deal founder over a 7% difference between what my buyers’ mortgage lender had approved and what the sellers “needed” for their house. I understand: just as buyers hit a ceiling and can go no higher, sellers can have a floor. But my guess is that these sellers may regret their choice [...]
April 30, 2009
How much will quality building bring?
147 Hendrie Ave. Rvsd
This new spec house by York Builders came on today at $4.250 million. York is a great builder and this is bound to be a fine house, but with what I guess is 5,000 sq. ft. above ground and just 1/3 of a hillside acre, I’m not sure that the quality of [...]
April 30, 2009
Sales, price reductions
136 Cat Rock, that bank-owned flop originally listed in 2006 for $3.665 million, sold today for $1.505. I think they still overpaidm, but the 70% assessment shows $1.606, so perhaps the buyer did alright.
18 Baliwoods, originally listed in 2007 for $1.875 million, sold today for $1.125. Both these houses should serve as an example for [...]
April 30, 2009
Swine flu Cure
Exciting news for all readers who have been concerned about the swine flu pandemic sweeping the world and threatening your loved ones. This blogger has teamed up with none other than our regular contributor Walter Noel and offer, for the first time, an absolutely fool-proof remedy and vaccine against those vicious bugs. Walt has taken [...]
April 30, 2009
Every then and now
1 Stonehedge
Sold 7/95: $700,000
Sold 4/09: $900,000
Chris Fountain tax assessment rule of thumb rule: 70% : $886,000
April 30, 2009
Down down down
Buyers are swarming – my pal Frank and I have a ton of them, all looking for – surprise! – bargains. In the meantime, sellers are maybe getting a tad more realistic, slowly. As they do, we’ll start seeing sales.
11 Juniper
This house, on the Stamford border but still in Greenwich, asked $5.3 million back in [...]
April 29, 2009
Houses: a depreciating asset?
142 Cat Rock
This Cos Cob home sold new for $4.050 million in June, 2005. The buyers tried reselling it for $5.450 two years later and now are trying agin, this time at $3.690.
April 29, 2009
Cool!
This guy says that the key to prospering in the coming end of civilization is to have a sailboat and use it for trading. I’m temporarily out of boats but if the world does come to a crashing halt I could take a page from the Somali pirates playbook and just grab one, I suppose. [...]
April 29, 2009
The infallibility of bloggers
Clusterstock’s Joe Weisenthal at 4:50 PM: Why Ken Lewis will win the vote. The fix is in!
Joe Weisenthal at 5:43 PM: Ken Lewis booted!
I hope you’ll remember this display of unerring accuracy next time you’re tempted to question one of my own predictions.
