Meet a mortgage broker from Greenwich Bank & Trust Thursday, October 23rd
Diane Dutcher, an agent who's always dreaming up bright ideas for her listings, has arranged for a banker to discuss what's happening with mortgages these days (not all bad, or I presume the lady wouldn't agree to spend an evening talking about it). Details are in the link below but basically it's being held at 9 Boulder Brook from 5-9 PM, some form of food and beverage provided and of course, a chance to inspect the beautiful house built by Diane's client, York Construction (and an excellent firm it is), asking price, if memory serves, around $6.75 million. Temporarily a little short of cash? Come anyway for the information - Diane's not the type to lock you in a closet until you agree to buy (or if she is, she'll let you out early enough the next morning that you can still catch your train.)
Call the number on the linked flyer for a phone number to call - you don't want to arrive at 5 and learn that the dancing girls and wine aren't scheduled until 8!
Update:
Okay, that link didn't work, so here's what it says:
SECURING A MORTGAGE AMID THE BAILOUT
What the Financial Crisis Means to You… And How You Can Still Secure a Mortgage
Come hear personal mortgage banker Lisa Edson from Greenwich Bank & Trust talk about the financial bailout and mortgages and what that means to homebuyers in the Greenwich market
Also view the recently completed Classic Georgian style home by York Construction & Development. 8,600 square feet of fabulous living space, 6 bedrooms and ensuite baths, gourmet kitchen, media room, wine cellar, exercise room, and more, located in the “golden triangle” of mid-country Greenwich.
Open House: 5:00 – 9:00 p.m., Thursday, October 23
Mortgage Presentation: 7:00 p.m.
Light refreshments and hors d’oeuvres will be served
9 Boulder Brook Road
Greenwich, CT 06830
Free and Open to the Public
Call 203-698-3460 for more information
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5 comments:
Chris - i am an interested Greenwich home buyer in the $5 - $10MM range, but GE is down 50% and Greenwich houses should also be down at least that much in my opinion. What will it take for sellers to face the music that their offering prices are yesterday's Dow Jones 14,000? Foreclosure sales?
In no hurry (especially since I don't have to pay the negative interest carry),
Buyer
I don't know, GE is down, and IBM is down, and I accept that, today, that's their market value. But I think those values are nuts and I'd expect them to come up within the next few weeks. I could very well be wrong but if I were a home owner I wouldn't peg my house to GE's pricing on any given day in this market - I'd wait, if I could. For those who can't wait (like spec builders with banks all over them) maybe 50% off is the best they can do. In that case, and you're in the market for that $ house, I'd keep your checkbook handy. You may get your chance.
Follow up - the cynic in me thinks that, once Obama is elected, the media will shift from "the sky is falling and it's all Bush's fault so don't vote for McCain" hysteria to, "the Messiah has arrived, the clouds have parted and the sun (or is that the son?) is with us" kind of reporting. Same way that unemployment rate under Bush was "worst in 5 years and the identical rate during Clinton's reign was called "best in 5 years". If I'm right, the hysteria will ease and all will indeed be right in the world, for awhile.
well, you may get your chance. There is a $9.5mm house going on the auction block in New Canaan next week with an opening bid of $3mm. Last week the IRS auctioned off a home in North Greenwich and it also met its reserve, barely. So, there are distressed sales taking place.
Chris - What exactly is the golden triangle of Greenwich?
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