How low can they go?
Here's a new, exciting blood sport: what's going to happen to all the spec houses in our fair town?
537 North Street came up for sale May 6, 2007 for $9.995 million; it can be yours today for just $8.25. Tomorrow?
5 years ago
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Chris, I swear - I would LOVE to do an unofficial survey of the number of spec houses on North Street for sale between the #400 level (St. Michael's Church area) and the Merritt. I can think of 5 off hand (#480, #537, the new turreted one by the Merritt entrance, plus two more boxy ones on the even-number side, including one on the corner of Copper Beech) and when they came up for sale and how long ago. It seems like there's TONS.
Any way to put a link to the listing? Be interesting to see a few interior pictures of these houses.
'Custom Built' - a thing of the past?
Are you ready for a dose of reality?
These Spec Builders should be looked at in a more respectable way. They haven't committed a crime - thet have actually invested, and put at risk, their money and the money of their investors, to create a product for the Greenwich marketplace. Most (but not all) of the houses they have built are of Architectural design and quality that we should be proud to have in our town. What would we be living in if these individuals didn't take on the risk and build these houses? They have contributed a lot to the quality of life in Greenwich, and we should welcome the good ones with open arms.
If anything we should be dumping on our corrupt politicians, Wall Street Execs,and Hedge Funders that all benefitted from and created this financial "mess" that we are currently in.
It sure is a 'Big Mess' - Can't argue with that.
Glad to read something 'Positive' about 'Spec Houses' - Good Points - Yes - 'Greenwich' - a-long with Darien - New Canaan - Westport - Wilton - Southport - seems to be attractive to the Spec Builders - Let's hope things get better fast - for the sake of all!
I sometimes wonder if Greenwich estates will go the way of English estates back in the day, when later generations could not afford the taxes, maintenance, and general upkeep. Should the remaking of Wall Street mean that bankers are paid more like commercial bankers than merchant princes, and should these commercial banks not lend as freely to hedge funds as has been the norm, it would seem there will be a greatly diminished pool of potential buyers for these things. Does anyone think that utilities and property taxes will decrease in the future? And given that except maybe on North Street all of these houses overwhelm their lot and take up all the land, you can't recoup your money by selling the land as happened earlier in the period.
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