77 SheephillThis house was listed back in January '07 for $1.995 million and still hasn't sold, despite a steady series of price cuts. It's now down to $1.695, perhaps where it should have started to begin with, but in this market, who knows what will happen?It's a good house, so its future will give a pretty good snapshot of this area of town's market. But regardless of how much the seller put into renovating this house, and it looks to be a substantial sum, he'll probably make out okay - he paid only $435,000 for it in 2001.
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5 comments:
Chris,
Regarding old houses, you are probably right about Greenwich and its lack of love for the old ones. But, this house on Sheephill is on an extremely small and unattractive lot....not to mention a busy street.It may be old, but I don't think that is why it isn't selling.
An old house owner.
I agree. I was stunned when I saw the listing over a year ago. At the price cut, I'm still stunned, albeit less so.
IMO, overshot the market by 25-30% when fist listed for the time period and now now overshot by just 15-20% as prices slide down. I think this house is worth about $1.25M.
Cos Cobber
what's that expression, "trying to catch a falling knife"?
Ditto with the pp. I drove by last night - this is the kind of home that drives me crazy about Greenwich real estate. Fine home, I am sure. TERRIBLE location/neighborhood for that kind of price. No other home in the vicinity is even close to this one in quality, very busy street - I would go lower than Cos Cobber...anyone who pays more than $1M for this is crazy.
riversider
Terrible location/neighborhood? Are you kidding? Convenient an close to everything, and quite a few houses around the corner on Riverside Lane were listed and/or have sold in this very same price range.
In five years, the whole street and neighborhood will look just like this house. Why beat up the owner for being first and smartest for having the vision to tear down an obsolete house?
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