Timing is everything, damn it
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25 The Ridgeway
25 "The Ridgeway", priced at $4.150 million, reports a contingent contract.
It's a beautiful old (1900) home in lousy shape, but on 2.8 acres in Rock Ridge, one of the best almost-in-town neighborhoods in Greenwich. I showed it to clients back in 2013 after its price had dropped from $5.890 to $5.250 but even at that "low" price, the costs of renovation were daunting, and we moved on. It's now the subject of two foreclosure actions, and as that has progressed the owners have acquired a new pricing flexibility; had they shown it back then, I might have made a nice commission and the owners, rather than my protective buyers, might have moved on long ago.
Anyway, it's scheduled as a short sale and being sold "as is" now. Short sales often don't make it all the way to the closing table, but eventually theses houses do sell, so if we wait, we'll see what the final price is.
