Real Talk Ken edwards Fall market is strong, tips for cleaning, inspecting your roof
Another 14 properties sold last week in Greenwich, according to our local Multiple Listing Service. Eleven single-family homes were joined by two condos and a Steamboat Road co-op totaling $31 million in sales.
One of the sales was a newly constructed colonial off Round Hill Road that took longer than the contractor probably expected, but at $8.4 million, these properties take a while to find a buyer. It really is a stunning property. It’s my buy of the week.
My sale of the week selection is a Cos Cob home off River Road near the Greenwich Water Club. It sold for full asking in two weeks at just under $1 million. Being just under a price threshhold like $1 million is key to having it pop up on the list of possibilities in many searches.
Buy of the week
This newly constructed eight-bedroom, nine-and-two-half bath colonial at 37 Mooreland Road is located on a cul-de-sac off Round Hill Road south of the Merritt Parkway. Its 12,444 square feet of finished space sits on a 4-acre level plot with a four car garage and a swimming pool. We’re talking living large here.
The amenities include almost everything you could think of including a home theater, exercise room and a culinary kitchen that would make a gourmet chef well up in tears of joy double statuary marble islands, two Wolf stoves, two sinks, a Sub-Zero refrigerator and cabinetry crafted on site are just some of the features.
The original asking price was just under $12 million, reduced to $9.3 million and after 520 days on market it went to contract at $8.4 million. That’s not cheap, of course, but it’s 30 percent below the original asking price and very close to its $8.2 million tax-appraised value. It’s a great property and clearly my buy of the week selection.
Sale of the week
My sale of the week selection jumped off the list of available properties at full asking price. The home at 9 River Lane went to contract after only 14 days on the market. This three-bedroom, two-bath Cape Cod home built in 1940 has been renovated throughout. It has a granite and stainless kitchen, updated baths and laundry and even a nice workshop and new cabinets in the attached one-car garage.
River Lane is a small spur off River Road in Cos Cob with 15 homes directly behind the Cos Cob Citibank location on East Putnam Avenue. If you walk to the end of the road you’re at the Greenwich Water Club with its pool, fitness center and headquarters for the increasingly popular Greenwich Crew.
How’s your roof?
Before winter arrives you might take a look up at your roof to see if it has dark streaks, lichen/mold spotting or green moss growing on it. These all suggest that you need to clean it before the snow starts flying. That’s especially true if you plan to list it for sale after the holidays.
Even if it’s fairly new, structurally sound and not leaking, most buyers will automatically guess that the roof needs to be replaced. For those who aren’t turned off by the poor aesthetics, they will factor the cost of a new roof into any offers they make.
Assuming of course that your roof doesn’t pre-date Babe Ruth’s sale to the Yankees, you may be able to salvage it at minimal expense. What exactly is that dark stuff anyway? Roof stains arise from colonies of roof algae and lichen growing on top of the black roof mold that produce compounds which absorb wavelengths of light that typically make it appear black or dark green. Eco-friendly products like RoofOX 3000, can be used to kill roof mold and revive your roof shingles.
But maybe your roof does need to be replaced. How can you determine that without a partial investigation of someone with a profit motive? Your first step is to investigate the paper trail. See if you have the original paper work supporting the roofing or re-roofing of your home. If you find it, look for the warranty period for the roofing material and its installation too.
You can also hire a licensed home or roof inspector who will make a determination for a fee and let you know how many years of life, if any, remain for your roof. If it does need re-roofing with a new course of asphalt shingles or a complete replacement of its asphalt shingles, slate tiles, cedar shakes, clay or Ludowici tiles, they can also suggest contractors who can do the job reliably.
In any case, your home’s curb appeal will kick into high gear once you take care of this problem. It may just need a soft (not power) wash after soaking it with the right chemical spray. That’s money well-spent and a lot less than the subtraction your buyer would otherwise make.
Now there’s another solution available from Tesla Energy — solar roof tiles. If you want to invest in a roof that will outlast just about every other alternative and pay for itself over time with its energy production, maybe now’s the time to investigate this alternative. Go to www.tesla.com/energy to find out more.
This Week’s Success Quote
“The time to repair the roof is when the sun is shining.”
— John F. Kennedy
Ken Edwards is the principal Broker for Edwards & Associates Real Estate and has lived in town since 1974. All opinions expressed are entirely his own and not those of this publisher. Comments and questions may be sent to K_W_Edwards@ Yahoo.com or call (203) 918-4444.