Ole Amundsen’s place at 350 Riverside Avenue has dropped to $1.250 million, down from $2.650 back in 2009 when Eric Amundsen still thought he was selling a marina. He isn’t, thanks to the DEP and its crazy ass new regulations, so what Eric has is a single family home (which I mentioned to him ten years ago, but never mind). Pay a million bucks, renovate to the tune of $300,00 or so and bingo! Riverside waterfront, with dock. Not bad.
Daily Archives: December 19, 2011
Business Insider posts 13 weird things you didn’t know about the movie. In fact, I did know most of them but I was delighted by the fact that the FBI, viewing “its obvious hostility toward bankers” figured it was part of a communist plot. These days, we’d probably all be considered part of that plot.
Mentioned this place at 172 Valley Road just recently when its price dropped to $740,000 from an original pie-in-the-sky ask of $1.495 million. 0.66 acres, run down house but an approved lot split, should that be desired, not bad. Rumor, and only rumor, is that the magic number was $650,000.
A neighbor’s chicken was just carried off by a fox – that’s right here in crowded Riverside. And a friend in Hillside Park reports two bucks with huge antlers wandering around the back yard. I wasn’t kidding about mounting rhinobars on my Honda.
I know a fair number of people in the financial world and they have begun learning what their bonuses will be for this past year and how much of it will be deferred. For some, the news is not so terrific; in fact, we’re revising house search criteria downwards to reflect a new reality.
This could, of course, exert pressure in the less expensive market as more buyers crowd in but I think it even more likely that house prices will have to follow these incomes down. In my experience, the taste for certain amenities doesn’t disappear and buyers don’t stop demanding them. Rather, they’ll expect to buy the same thing, for less. We’ll see who wins that standoff, buyers or sellers.
A world without energy
20 Pond Place in Cos Cob asking $875,000 has an accepted offer already. I wrote about this two weeks or so ago because I thought it was a decent value. Obviously, someone else thought so too. And when I called around this morning to see about two other houses, in a higher price range, I learned that they both had accepted offers. In these cases, the houses each started out much higher but with price cuts of approximately 50% and now priced below the town’s assessment, people are buying them. Not a surprise.