Fun with numbers
The Greenwich MLS has just issued its latest quarterly sales book and it's been interesting to seen how my organization continues to screw up sales data, for unkown motives. 723 Lake Avenue, for instance, was actually first listed at $7,250,000 in February,2005 and finally sold for $5,775,000 in June, 2008. The sales book shows an original price of $6,995,000 (one of the intermediate prices as it climbed down, actually) and only 210 days on the market. I'm not too good at math, but February '05 to June '08 would seem to be more than 210 days.
The sales book gets 26 Mayfair Lane's days on market right (I think - I didn't actually count: 547, but shows the "original price" as $6,750,000, thus making the selling price of $6,250,000 look reasonable. "Nothing to see here - move along, move along." In fact, the original price was $8,350,000 and $6,250,000 represents a heck of a bite from that dreamed-for sum.
So who's gaming the system here? Maybe no one - whenever I inquire at the Board, they blame everything on some third-party computer program that they can't control, but our data are being corrupted and that, in turn, makes it impossible to trust what's being spewed out as truth. In the long run, this can only hurt the entire Greenwich real estate market.
1 year ago
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6 comments:
So, What School Will My Child Attend?
Greenwich Mean Time - Buy Here!
Note: These two links do not appear to be working.
I know - I was futzing with my template and managed to screw up at least one thing for every item I improved. I'm working on it. In the meantime, google the Board of Ed for Greenwich and you'll find the right link. It's a nify feature-type in your street address and the right school pops up. I like to use it because school districts can change, without notice, and I never want to sell a house that I've said was in one district when in fact it's in another.
Chris - What is going on over at the 'Howard Johnsons' in Riverside - the property is all fenced in - and the Motel looks like Hell - and is closed?? Is it New Owners?
Now - Chris - my friend - ( I hope ) please continue to show those over priced homes - don't let a few 'negatives' make you feel like it is a waste of your time and others - come on 'Chris' who is looking out for both the buyers and sellers??
Very interesting posts today - and thank you for all the 'corrected' information.
Best In Sales - Chris - you are doing us all a great service!
Don't know what's happening w/HoJos - I've been meaning to look into it, so now I will. Who do I represent? Either the buyer or the seller, but never both. So when I represent the seller, I naturally try to get the best price. Same thing when representing a buyer only, then, the best price is the lowest price, so if I think there's something as good or better at a lower price, I'll steer them there. Of course, the buyer's taste or opinion may differ from mine, in which case I'll take him off to see the one I think is over-priced. But only then.
As for Ho Jos, I read about 1 month ago it was going to be torn down and a new restaurant built. An outpost of a successful one I think in NYC, a cajun/barbeque theme if I recall. 2 word name, think starts with a B.
From the Greenwich Post:
Jun 5, 2008
Going up in Blue Smoke
Howard Johnson to house new restaurant; plans for hotel
By Sonia Fernandez, Staff Reporter
The Howard Johnson will be renovated as the Delmar opens a new hotel at that location and Blue Smoke takes the place of Tandoori restaurant
Blue Smoke will be sweeping through Greenwich as Union Square Hospitality Group prepares to open its first restaurant outside New York City.
Named after its predecessor on 27th Street and Park Avenue, Blue Smoke Chophouse will move into the space that was occupied by the Howard Johnson in Riverside, along with a new hotel operated by the same group that operates the Delamar Greenwich Harbor hotel.
“It’s an ideal opportunity to bring the restaurant to Greenwich,” said David Swinghamer, partner and president of Union Square Hospitality Group.
He added that a large population of the group’s diners are from Greenwich and throughout Fairfield County and had voiced the desire to see Blue Smoke Chophouse come to the area.
The restaurant will offer patrons a family ambiance during the early evening and a place for adults to enjoy cocktails and fine dining later. The bar will offer a variety of wines, beers and cocktails in hope of becoming a hot spot for people coming from throughout Fairfield and Westchester counties.
“We’re excited because it’s going to be the type of restaurant that fits into what we’ve done in Manhattan. ... It will be a ‘best of class’ level that offers great hospitality to the Greenwich area,” Mr. Swinghamer said.
The Union Square Hospitality Group has enhanced the ambiance of the restaurant by focusing on wood-fired cooking. Not only will the meats be wood-smoked, but the grills and ovens will also be wood-fired.
The open kitchen will allow guests to see the goings-on behind the scenes of how the food is prepared with seasonal ingredients.
Mr. Swinghamer said the group was asked by the owners of the 1114 East Putnam Ave. property last year if they would entertain the idea of bringing their restaurant to Greenwich to accompany the new “green” design hotel.
Plans to renovate the Howard Johnson and the attached Tandoori restaurant were submitted to the Planning and Zoning Commission on March 19, but have been dropped as both the hotel and restaurant are being gutted to make room for the new plans.
While the new hotel has yet to start the planning and zoning process, Mr. Swinghamer said he hopes the restaurant will be ready by next summer.
“We’d love to be able to benefit from the summer season,” said Mr. Swinghamer, as the restaurant will offer outdoor seating.
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