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Old 01-08-2020, 05:29 PM
 
1,888 posts, read 1,183,800 times
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Quote:
Originally Posted by brown_dog_us View Post
Listed at $20k less than they paid for it 3 years ago. Add in commissions and transfer cost and it adds up to a $75k+ loss in 3 years.
That would be assuming they got asking price.....so more likely a 100k plus loss.

Steve, I've always wondered why that neighborhood listed at Marsh was always seemingly cheap by Westport standard's?

Looks like good value....been a while since there when a friend lived there. Think partly there is a 1 way bridge there which maybe is awkward....

 
Old 01-08-2020, 05:32 PM
 
1,888 posts, read 1,183,800 times
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In Fairfield, there have been 2 failed flips in the beach area. One is back on market for 16k ask over what they paid. After what they put in etc.....losing 100k perhaps! One just sold for 105k over but after all they inside maybe just lost some$. Ouch
 
Old 01-08-2020, 05:58 PM
 
Location: Connecticut
34,918 posts, read 56,918,061 times
Reputation: 11220
According to the Warren Group, home sales and home prices in November were up. Sales up 5% and prices up 3.2%. Can that be right given all the doom and gloom you see here? Jay

https://www.hartfordbusiness.com/art...prices-rise-32
 
Old 01-09-2020, 08:34 AM
 
Location: USA
6,887 posts, read 3,732,518 times
Reputation: 3494
Quote:
Originally Posted by brown_dog_us View Post
Listed at $20k less than they paid for it 3 years ago. Add in commissions and transfer cost and it adds up to a $75k+ loss in 3 years.
Maybe they don't care. Could be downsizing retirees with inflated IRAs, a relo package, who knows.

Quote:
Originally Posted by Stepfordct View Post
That would be assuming they got asking price.....so more likely a 100k plus loss.

Steve, I've always wondered why that neighborhood listed at Marsh was always seemingly cheap by Westport standard's?

Looks like good value....been a while since there when a friend lived there. Think partly there is a 1 way bridge there which maybe is awkward....
I don't know what you mean by cheap. Its known as Saugatuck Shores (home of Stew Leonard). The largest and nicer homes are 2M and up. Direct with docks even higher.
 
Old 01-09-2020, 08:39 AM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,622 times
Reputation: 1624
Quote:
Originally Posted by Stepfordct View Post
In Fairfield, there have been 2 failed flips in the beach area. One is back on market for 16k ask over what they paid. After what they put in etc.....losing 100k perhaps! One just sold for 105k over but after all they inside maybe just lost some$. Ouch
Yikes. Any hints on the location of the 2 failed flips in Beach? As an investor, I do buy in that neighborhood, however I buy, renovate and then rent out my properties.
 
Old 01-09-2020, 08:42 AM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,622 times
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Quote:
Originally Posted by JayCT View Post
According to the Warren Group, home sales and home prices in November were up. Sales up 5% and prices up 3.2%. Can that be right given all the doom and gloom you see here? Jay

https://www.hartfordbusiness.com/art...prices-rise-32
Thank you for sharing some actual data/facts.

For those who are not familiar, the Warren Group is a very well respected real estate data analystics/new organization.

They publish Banker and Tradesmen: https://www.bankerandtradesman.com/

It's MA focused, however definitely worth the subscription.

Btw, I am not affiliated with the Warren group, just a subscriber and real estate investor, who relies on their data.
 
Old 01-09-2020, 08:49 AM
 
Location: USA
6,887 posts, read 3,732,518 times
Reputation: 3494
Quote:
Originally Posted by New Englander View Post
Yikes. Any hints on the location of the 2 failed flips in Beach? As an investor, I do buy in that neighborhood, however I buy, renovate and then rent out my properties.
Look at this angular horror-show for $1.8M, that's 100K per gable/doghouse dormer.
400K lower than peak last sale. It ain't goin' nowhere.


https://www.zillow.com/homedetails/3...57297579_zpid/
 
Old 01-09-2020, 08:58 AM
 
Location: USA
6,887 posts, read 3,732,518 times
Reputation: 3494
Quote:
Originally Posted by JayCT View Post
According to the Warren Group, home sales and home prices in November were up. Sales up 5% and prices up 3.2%. Can that be right given all the doom and gloom you see here? Jay

https://www.hartfordbusiness.com/art...prices-rise-32
That's terrific, great to see the rest of the State had a strong month of Nov. Is there a Q4 or YTD version?
 
Old 01-09-2020, 09:11 AM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,622 times
Reputation: 1624
Quote:
Originally Posted by SteveM85 View Post
Look at this angular horror-show for $1.8M, that's 100K per gable/doghouse dormer.
400K lower than peak last sale. It ain't goin' nowhere.


https://www.zillow.com/homedetails/3...57297579_zpid/
That's just terrible. I am talking about the photos. When you look at the pricing history, the sellers are in major trouble and they should know it.
 
Old 01-09-2020, 09:32 AM
 
1,929 posts, read 2,038,753 times
Reputation: 1842
Quote:
Originally Posted by SteveM85 View Post
Look at this angular horror-show for $1.8M, that's 100K per gable/doghouse dormer.
400K lower than peak last sale. It ain't goin' nowhere.


https://www.zillow.com/homedetails/3...57297579_zpid/
Yiiiikes. Talk about over-building.
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