Stanwich contract

59 Stanwich, which is one of those small houses up on the hill across from Fairfield Road’s intersection with Stanwich, reports a contract. It was put up for sale exactly a year ago Monday and never dropped its price from $1.395 million. And now, it seems the seller’s patience has paid off.

UPDATE: What a difference a year makes. Something about this house looked familiar so I searched the blog and lo, I wrote about it On October 18 2019, the day it hit the market, It was a flip-project, with the owner buying it for $860,000 that March, doing some quick and dirty improvements and returning it to the market. At the time, I didn’t think much of its prospects, but no one was expecting the Spanish Inquisition back then. Allowing, say, $200,000 put into improvements here (a guess), and 7% transaction costs, there was still money to be made on this deal. And these days, there just isn’t much out there in this price range.