Oops
A house in central Greenwich just sold for $3.5 million, which struck me as a bit low for such a nice house on such a good road. But it came on the market two years ago asking $4.895 million and I think that just killed it. By the time a buyer finally showed up, the stench of a decaying listing badly affected its price. Do what you like; if you enjoy keeping your home in showing condition for two years and entertaining strangers at all hours of the day, seven days a week, then price your house at whatever you like and go at it. But the market will not reward you for your effort. My advice is, if you aren’t receiving offers, it’s time to dramatically downsize your expectations.

Lawyer’s revenge
The favorite legal case that I ever read involved a New York City landlord who refused to rent to a lawyer because, he reasoned, she’d end up suing him. She promptly proved him right (“you won’t rent to me!”) and a judge eventually ruled that lawyers were not a protected class and could thus be discriminated against. Made sense to me – As a real estate lawyer, I always cautioned my real estate clients to be wary of offers from lawyer/buyers especially, worst case, two married lawyers moving from the city – but I was saddened to learn from the New York Times this week that “occupation” has been added to the list of protected classes for housing discrimination cases in New York City. That category was referred to in the article as a “lawyer’s protection clause” and obviously my former colleagues, after failing to win in court, went off to the City Counsel and got what they wanted there. So far as I know, we can still discriminate against lawyers here in the Nutmeg state and, while some of my best friends are lawyers, if I were a renter or seller and a lawyer wanted my property, I’d be cautious.

Is the sky falling?
I think not, but I have noticed several houses that recently sold for less than was paid a few years ago. Average sale price is still climbing nicely, especially in Riverside and Old Greenwich, but seeing a $50,000 markdown from a three-year-old sales price does concentrate the mind a bit.

On the other hand
Maria Ruggerberg, of this office, had a listing a month or so ago on Owenoke in Riverside. She convinced her sellers to let her place it into the multi-list system (a lot of people just hate having tons of strangers wander through their house) and, just as important, priced it at $2.595 million, a tad below what you might otherwise reach for. Result? It came on the market on a Thursday, it received four full-price offers by Friday and on Monday the sellers’ lawyer had in hand a non-contingent contract for $2,743,000. The deal closed last week, showing that there’s nothing wrong with this market when the price is right and also, the power of exposing your house to the largest number of buyers possible. It didn’t hurt that the house was in great condition and showed beautifully.

Greenwich Schools
I was a bit taken aback recently when I learned that a friend’s kid had been dragooned into “translating” for two classmates who allegedly suffer from “selective mutism”. I’d never heard of such a disability and, struck by the odd coincidence that two unfortunate children in one small class should have the same affliction, I Googled the term.It’s the new PC term for what we called “shy”. Greenwich already has one of the highest percentage of “special ed” students in the country because sophisticated parents have figured out how to game the system and get their kids untimed SATs, tax-payer-provided tutors, and the like, but I wonder if any real good is going on here. I remember my first Moot Court experience, where, faced with arguing a hypothetical legal argument before six robed judges, my mouth dried up and my brain turned to mush. The solution turned out to be not relying on a brighter student to speak for me but to repeat the process a number of times until I could think and speak on my feet. At some point, every kid will have to do the same thing and I’d suggest that process start early.