Wealthy Greenwich Home Sellers Give In to Market Realities

After four years on the market, and three price cuts, a stately Colonial-style home on Greenwich, Conn.’s tony Round Hill Road is being sold in a way that was once unthinkable in one of the country’s most affluent communities: It is getting auctioned off. Once asking $3.795 million, the four-bedroom property will be sold May 18 with Paramount Realty USA for a reserve price of just $1.8 million.

Seller Isaac Hakim, a real-estate investor, said it is time to move on. “We are ready to sell and I don’t want it to drag on,” he...

The Swamp dried up?

It’s easy to not have sympathy because they are rich but this trend of raising taxes will continue and affect everyone at some point affecting everyone’s property values

You can thank the politicians for raising taxes so much people don’t want to live there ...

Ahh! Yess.! The market. Basically nobody wants to buy this overpriced functionally useless junk.

What a surprise, wealthy people leaving a high tax state to go to one with low taxes. Note to NY, NJ, CT and others, the wealthy aren't stupid and they dont need to live in your overtaxed states. Wake up.

Indra Nooyi, Judge Judy, 17 hedge fund Billionaires, Mel Gibson, Meryl Streep, Trump, Imus, Vince McMahon, Subway Founder, Ron Howard, Greenwich Concours d'Elegance, Funzanoons. Manfredi has been there for 30 years though.

jmarks12345

that's not the place to be anymore since a long time already

People don’t want to live that way anymore.

Houses, cars, hello indicators. 🙄

The old laws of physics and the markets are not easy to defy. When physics are involved, the results are quick and brutal. When the markets are involved, the participants on occasion forget how they work. What goes up, comes down. They try to 'time' it. LOL

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