Winds of Change

October 13, 2008

As the economic and political changes swirl around us, so goes personal change. You can now find me at Kinlin Grover GMAC Home Services on Route 6A in Brewster. Great people, great company, and even more services for buyers and sellers as I am now part of MLSPIN , a large off-Cape multiple listing service for even more exposure.
From today’s Cape Cod Times

Banker puts Island Home on Market for $55M
By Jason Graziadei
Nantucket Inquirer and Mirror
A Goldman Sachs executive has reportedly placed his Nantucket estate on the market for $55 million.

Jon Winkelried, the co-chief operating officer and president of Goldman Sachs, has listed his property on the Monomoy shore with Congdon and Coleman Real Estate, and is reportedly asking $55 million, according to a real estate source.

Winkelried, 48, owns two parcels on Cathcart Road totaling nearly six acres. The Winkelried property at 15 Cathcart Road is assessed at $20.59 million, and was purchased in 1999 for $5 million. His property at 11 Cathcart Road is assessed at $4.8 million, and was also purchased in 1999 for $1.95 million.

Fortune Magazine recently listed Winkelried as the eight-highest paid man in the country, and reported his compensation in 2006 at $53.1 million.

Goldman Sachs and Morgan Stanley are the only Wall Street investment banks to survive the recent turmoil in the financial markets.

There is nothing listed in the multiple listing service at those addresses, nor is it on Congdon and Coleman’s website. Stay tuned.

I have observed a slowdown in sales and pending sales in the last weeks, in no down attributable to the economic tumult. Keep your eye on interest rates, though. They may creep up and any gain from “waiting” and timing the housing price drops will be offset, particularly in the jumbo loan arena. Kinlin Grover has a terrific in-house mortgage resource if you want to bounce ideas around and if you need to pre-approve.

I will be on hiatus for a couple of weeks. Enjoy the bonus weather, don’t watch your 401k, get ready to vote.

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