33 Crescent Road, Riverside

This new construction (my listing, so take comments with a grain of salt) sold last week for $3.175 million (asking price, $3.195). That should make the neighbors on Crescent happy because the builder, Greenwich Construction, has now sold two new houses on the street for more than $3 million - the other, 29 Crescent, was a bit larger and sold for around $3.4 million.

These both replaced older, much smaller homes and it's tempting to mourn the loss but, as listing agent for both, I can report that there was no - zero, nada-interest in either of the existing properties by end users. The market demands new, and bigger houses. We can complain but, when you go to sell your own house, perhaps you should feel grateful that there are still builders around willing to risk their money on speculative projects. If you don't feel that warm appreciation, don't worry - there are fewer spec builders every day so you may well have a chance to pass along your house to a deserving, if impoverished young family who will cherish your home as you did. And pay what you did, too.