Blog :: 02-2012

Growth in the Greenwich CT Real Estate Market

This article in the Greenwich Time is getting a lot of press amongst the Greenwich real estate/realtor world. Some think it is written too optimistically (buyers) and some say it's too negative (realtors). Although I'm a Greenwich realtor, I agree that we should proceed "cautiously optimistic"ly...

 

 

Accepted Offer Continue To Show - Greenwich CT Real Estate

There has been some talk about Greenwich houses that have been categorized by the MLS as AOCTS (Accepted Offer Continue to Show) being re-listed as Available, which means that they had an accepted offer, but didn't pan out. Some take this as a bad sign noting that something must have gone wrong with the transaction and assume that the buyer pulled out. The thing is that this happens all the time in real estate regardless of the market. Things happen all the time (inspections, mortgage, etc..). We might be noticing it a bit more now as the Greenwich MLS (multiple listing service) has created a new category requiring us to post when an accepted offer occurs. Deals fall apart all the time between when the buyers and seller come to an agreement and when contracts are signed. This has little to do with the economy and state of the market.  It just happens. Buyers get skittish, inspections pull up concerns, mortgages fall apart, anything can happen.

Since we don't have binders in the Greenwich real estate market, there is nothing holding a buyer legally to a purchase until a contract is signed, which makes it very easy for someone to bid on a property without locking themselves down to a 100% commitment.

Ok, Greenwich Real Estate activity IS up, but will it last?

To add onto my last post, we have had some activity in the Greenwich CT Real Estate market in the past week.  Over the past 10 days, 31 houses have either gone into contract or have an "accepted offer" on them.  This is a significant level of movement in the market, though I am not ready to call all of my clients and tell them that they need to come on out before everything is gone.

The reason that I am skeptical about this uptick in activity is that it is just that, a quick uptick in activity. We are now in February and the weather has been nice, so those that are thinking of a spring market purchase might just be poking their heads out early. This is normal and happens in Greenwich real estate nearly every year.  If we close out February with some solid numbers I may start to get a little bit more excited.

The second reason I'm cautiously optimistic about the uptick in activity in the Greenwich real estate market is because a lot of this activity is under "accepted offers," which is still a long way away from a contract and then a closing.  An accepted offer just means that the seller agrees with the buyer on the price the house should close at. The next step involves the buyer doing inspections, getting financing, working with their attorney on contracts and more. There are a million things that could go wrong and often do.

In the longterm, I see the market coming up, but I have no clue how long that will take. We are in an election year and pending any major news I feel we will be bouncing around this floor for awhile. That being said, it will be spring soon and family real estate in Greenwich, Cos Cob, North Mianus, Old Greenwich and Riverside will sell because families move and want to be in before the next school year.

Is activity REALLY up in Greenwich Real Estate?

I can't help but noticing all of the real estate websites and posts on Facebook by realtors (Greenwich, Fairfield, etc...) talking about how activity is booming and how we should all get out there and buy before the market gets too expensive.  I don't want to be too negative here, but I can't stand it when realtors push push push. I can remember vividly a year ago when all of the Greenwich Real Estate brokers were telling everyone to buy because interest rates couldn't get any lower and prices were on the floor and couldn't drop any lower. Well guess what, prices and interest rates did drop...

I truly believe we are now bouncing along a pricing floor hear, but I have no clue when we will get out. It's an election year, so I really don't see much happening until this fall/next-winter at the earliest.

Back to my rant, I do agree that the market has seen an uptick in activity, but I don't agree that we are witnessing a sudden influx of wild demand and everyone should get out there and BUY NOW! There have been a couple accepted offers in the Greenwich Real Estate Market, but there have also been a lot of new listings thanks to those that are preparing for the spring market. Let's just wait and see what happens over the next two months. I am cautiously optimistic.

We made it! Page one for "Greenwich CT Real Estate"

For those of you who care, we finally made it to page one for the search term Greenwich CT Real Estate!  This has taken a ton of effort in making sure that the site is built for the best SEO juice.

http://www.google.com/search?client=safari&rls=en&q=greenwich+ct+real+estate&ie=UTF-8&oe=UTF-8

I'm not sure how long we will last or if we will move up, but we are thrilled to be the last listing under the google search Greenwich CT Real Estate.

I want to thank all of our viewers for coming to the site. We hope to update it on a regular basis and to improve it constantly.

If you are interested, we just added some new text on Conyers Farm, so take a look.

NEW LISTING - 42 Bote Road, Greenwich CT Real Estate

I am thrilled to announce my new listing at 42 Bote Road in Greenwich CT. I'll be hosting a public open house this Sunday from 2pm to 4pm if you want to take a look.

$3.95m - North Street/Central Schools, 8,224 soft, 6 bed, 6 full bath, 3 half bath.

This beautiful, generously scaled new colonial, built to the highest standards in a coveted neighborhood off Stanwich Road, offer luxurious comforts and state-of-the-art amenities for 21st century living. A grand double height entry hall with striking herringbone pattern oak flooring introduces the sun filled interior.The main floor layout with a splendid flow includes a gracious living roomwithmarble fireplace and bay window, handsome corner library with tall casement windows, elegant formal dining room with built-in china cabinetry, sensational gourmet kitchen/family room area with a fireplace and formal/informal powder rooms. French doors in the dining and family rooms lead to a wonderful covered terrace for seasonal al fresco dining and entertaining, while the kitchen opens to a delightful mahogany deck. There are six bedrooms served by six baths including a stunning master suite with walk-in custom closet and his/her marble baths, and a staff suite on the expansive lower level comprising two playrooms, one with a fireplace, a home theatre, gym and a powder room. Fronted by stone walls, the lovely, nearly one-half acre setting is just minutes from schools and town. Attached two-car garage and generator. $3,950,000 Exclusive Agent: Scott Elwell

Greenwich CT Real Estate Sales January 2012

Here is a list of all of the residential real estate trades that took place in Greenwich CT in January 2012. This includes homes that sold in Cos Cob, Riverside, Old Greenwich, North Mianus, Glenville, Belle Haven and Byram.

Jan. 3:

  • 39 Lancer Road : Richard L. and Lauren E. Lieberman to Ilya and Inga Skuratorsky; $840,000.

Jan. 5:

  • 275 N. Maple Avenue : Celine M. Stahl to Catherine C. and Stuart B. Nutting; $1,800,000.
  • 1465 E. Putnam Avenue , Unit 421: Josephine DiPalma to Robert A. Stevens; $305,000.
  • 33 Harold Street: Dominick M. and Marie Chiappetta to Yongi Hin and Wenqi Mou; $515,000.

Jan. 6:

  • 46 Locust Street: Greenwich Hospital to James F. Sun and Linda X. Lin; $681,5000.

Jan. 9:

  • 17 LeGrande Avenue , Unit 12: Maureen Shrahley to Helen Dillon; $650,000.
  • 25 W. Elm Street, Unit 43: Kathleen Conlon to Jocelyne Doll-Soulaine, trustee; $418,000.
  • 134 Cat Rock Road : Robert W. and Ann T. Rosenstock, trustees to Gordon J. and Susan J. Coburn; $3,237,000.

Jan. 10:

  • 57 Pemberwick Road : William Goodman IV to Pemberwick LLC; $530,000.
  • 0 Dearfield Lane: Curtis C. Wood to Dearfield LLC; $566,666.
  • 0 Dearfield Lane: Curtis C. Wood, trustee, to Dearfield LLC; $283,333.
  • 5 Hillside Drive: James T. and Susan G. Larkin to Karen and Charles M. Shaffer III; $2,950,000.
  • 201 Shore Road : Stuart B. and Catherine C. Nutting to Jeremy and Jessica Murphy; $3,800,000.

Jan. 11:

  • 54 Highmeadow Road : Norman F. and Robin G. LeBlanc to James T. Larkin; $2,150,000.
  • 1109 Lake Avenue : Deep Creek Lake LLC to High Lake Property LLC; $9,250,000.
  • 3 Elizabeth Lane: Grayson O. Brown to Newwork Development Co. LLC; $590,000.
  • 90 Maple Avenue : Lorraine Sykes to William Goodman IV; $1,130,000.

Jan.12:

  • 1353 King Street: R.K.D. Venture LLC to Congregation of Jevoha's Witnesses Inc., $1,000,00.
  • 1357 King Street: R.K.D. Venture LLC to Congregation of Jevoha's Witnesses Inc., $500,000.

Jan. 13:

  • Peter J. a132 Hamilton Avenue : The Castiglione Funeral Home Realty Trust to Greenwich Funeral Home Inc. LLC; $2,095,000.
  • 63 North Street: Peter T. and Andrea M. Brennan to Gloria Chambers; $2,775,000
  • 86 Round Hill Road : George S. Tsandikos and Kevin M. Ryan to William H. Pool; $1,800,000.
  • 8 Echo Lane: Estate of Maria A. Newton and John C. Newton, to Fredrick and Pamela Stoleru; $985,000.

Jan. 17:

  • 57 Grey Rock Drive: Helen A. and Joseph Augustyn to Abha Partners, FLP; $405,000.
  • 30 Riversville Road : Estate of Margaret Hoffkins to JC Merz; $345,000.

Jan. 18:

  • 25 Lismore Lane: Morris A. and Elaine F. Sandler to the estate of Rita K. Hillman; $2,900,000.
  • 28 Verona Drive: Londonderry Homes 28 LLC to William and Sarah Aaronson; $3,980,000.
  • 243B Hamilton Avenue : Paula and Brian Tobin to Peter Vitale; $695,000

Jan. 19:

  • 33 Scott Road : Sandro and Claudia Malagisi to Erjon and Mirsada Pacaj; $875,000.
  • 16 Walker Ct.: Patricia Ann Kristoff, trustee, to Jennifer and Anthony Socci Jr.; $515,000.

Jan. 20:

  • 2 Indian Knoll Place: Dev D. and Patricia Ann Panigrahi to Michael Bodson; $2,900,000.
  • 32 Cliff Avenue , Home site # 1: RMS Greenwich LLC to Jonas D. Slavien; $613,000.
  • 1031 North Street: Elia G. Gospodinoff to Sandro and Claudia Malagisi; $1,150,000.

Jan. 23:

  • 32 Cliff Avenue , Home site #3: RMS Greenwich LLC to Ashish Sharma; $675,000.
  • 50 Putnam Pk.: Dorothy White to Xiehnan Lu and Yuzhi Wang; $362,000.

Jan. 24:

  • 14 Meadow Road : Catherine B. Lepoutre to Peter B. and Barena B. Bailey; $1,200,000.
  • 59 LeGrande Avenue , Unit 14: Jean McCormick to Jeffrey D. Harris; $1,100,000.
  • 15 Street Claire Avenue : Gary K. and Michele G. Clarke to MCM Properties LLC; $1,657,500.
  • 460 North Street: Kenneth J. and Vanessa L. Savio to Drew Aaron and Hana Soukupova; $7,987,250.

Jan. 25:

  • 156 Taconic Road : Patricia S. Allain to Kenneth J. and Vanessa Savio; $1,600,000.
  • 15 So. Water Street: Western Greenwich Holdings LLC to Blue Mountain Partners LLC; $400,000.
  • 63-65 Pemberwick Road : Western Greenwich Holdings LLC to Blue Mountain Partners LLC; $472,500.
  • Jan. 26:
  • 318 and 320 Valley Road : Greyrock of Greenwich II LLC to RMS Valley LLC; $450,000.
  • 37 Ridgeview Avenue : Emily S. Lopatin to Rob and Meera Drelich; $1,087,500.
  • Jan. 27:
  • 213 Riverside Avenue : Kent D. and Nancy B. Holden to Matthew Emrigh and Felicia Schecter-Emrigh; $2,250,000.
  • 2 River Lane: Adriana Pena to Eduardo Pena; $335,000.

Jan. 30:

  • 18 Edson Lane: Damien A. and Ilona D. Kaali-Nagy to Scott F. Alderson; $5,850,000.

Jan. 31:

  • 425 N. Maple Avenue : Irene Soubry Revocable Trust to Benjamin P. and Lana E. Welsh; $1,750,000.
  • 11 Skyridge Road : Michael L. and Marian S. Yagemann, trustees, to Andrea M. Fraleigh, trustee; $13,000,000.
  • 59 Hillside Drive: Lydia Barberini to Brookside Properties LLC; $671,300.
  • 18 Rippowam Road , Unit 2B: Gina M. Pastore to Sasha Illingworth-Maloney and Ryan J. Maloney; $575,000.
  • 3 and 7 Juniper Hill Road : First Horizons Home Loans to Louis Zazzarino; $6,200.
  • 32 Lake Avenue : 32 Lake Avenue LLC to Jeremy E. Kaye, trustee; $860,000.