connecticut: Death of a Short Sale - 06/18/08 02:17 PM
It was a cute home. A nice cape-style home on a private lot. It was affordable. It needed some work, but not too much. It was priced accordingly. It was a short sale - the owners owed more money on the home than it was worth.
We quickly received two offers. The first buyer changed his mind...The second buyer experienced family issues, and buying a home was no longer in their plans.
So we continued onward. We continued to market and show the home.
The home was vacant and supposed to be winterized. I checked every few days to see if … (12 comments)
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connecticut: New Milford, CT - May, 2008 Real Estate Market Report - 06/11/08 06:20 PM
New Milford, Connecticut Real Estate Update May, 2008
Closed home sales in New Milford, Connecticut:
Single Family Homes:There were 19 single family home sales closed in New Milford, CT.List Prices ranged from $149,900 - $599,900.Closed Sales Prices ranged from $182,000 - $565,000.
The average closed real estate sales price for single family homes in New Milford was $322,815.The median closed sales price was $283,000.On average, these homes sold for 96.6% of their final list price.Days on Market ranged from 5 - 431 days, with the average being 152 days of market time.
This compares to 32 single family homes closed in May, 2007, with an average closed sales … (0 comments)
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connecticut: Brookfield, CT - May, 2008 Real Estate Market Report - 06/11/08 06:08 PM
Brookfield, Connecticut Real Estate Update May, 2008
Closed home sales in Brookfield, Connecticut:
Single Family Homes:There were 17 single family home sales closed in Brookfield, CT.List Prices ranged from $339,500 - $825,000.Closed Sales Prices ranged from $305,000 - $780,000.
The average closed real estate sales price for single family homes in Brookfield was $455,582.The median closed sales price was $475,000.On average, these homes sold for 94.9% of their final list price.Days on Market ranged from 20 - 940 days, with the average being 296 days of market time.
This compares to 13 closed sales in May, 2007, with an average sales price of $487,250 and a median closed … (4 comments)
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connecticut: Danbury, CT - May, 2008 Real Estate Market Report - 06/11/08 05:49 PM
Danbury, Connecticut Real Estate Update May, 2008
Closed home sales in Danbury, Connecticut:
Single Family Homes:There were 17 single family home sales closed in Danbury, CT.List Prices ranged from $139,500 - $949,000.Closed Sales Prices ranged from $133,000 - $757,500.
The average closed real estate sales price for single family homes in Danbury was $383,941. The median closed real estate sales price was $339,000.On average, these homes sold for 93.8% of their most recent list price.Days on Market ranged from 21 - 563 days, with the average being 187 days of market time.
This compares with 33 closed sales in May, 2007, with an average closed sales price of $481,260 and … (0 comments)
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connecticut: Sherman, CT - May, 2008 Real Estate Market Report - 06/11/08 04:54 PM
Sherman, Connecticut Real Estate Update May, 2008
Closed home sales in Sherman, Connecticut:
There were 4 home sales closed in Sherman, CT.List Prices ranged from $549,000 - $2,100,000.Closed Sales Prices ranged from $502,500 - $1,745,000.(Two of these homes were waterfront properties)
On average, these homes sold for 88.6% of their final list price.
Marketing time ranged from 136 - 705 days on market. The average was 364 days on market.This compares with 8 closed sales in May, 2007, with an average sales price of $813,585 and a median sales price of $812,500.
Currently available homes for sale in Sherman, Connecticut:
Currently, there are 70 homes for sale … (0 comments)
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connecticut: New Fairfield, CT - May, 2008 Real Estate Market Report - 06/11/08 03:32 PM
New Fairfield, Connecticut Real Estate Update May, 2008
Closed home sales in New Fairfield, Connecticut:
There were 8 home sales closed in New Fairfield, CT.List Prices ranged from $179,900 - $3,660,000.Closed Sales Prices ranged from $174,000 - $3,000,000.
The average closed real estate sales price for New Fairfield was $808,937.The median closed real estate sales price for New Fairfield was $533,000.On average, these homes sold for 88.8% of their final list price. However, when we remove the $3,000,000 sale, which is not common in New Fairfield, then the list/sale price ration changes to 95.7%, which is in line with what we've seen in the … (0 comments)
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connecticut: Open Houses - 05/19/08 09:47 AM
Lew Sichelman is one of my favorite real estate writers. It helps that he sometimes quotes me in his articles. His latest article pertains to Open Houses - Door is Closing on Open Houses.
Do open houses work? Are they worth it? The article presents both viewpoints. It also created some talk in my office today.
I heard over and over: Yes, open houses work! Yes, open houses work! So I probed a bit deeper: How do they work?
"They help me gain new buyer clients," was the only response I heard. But, do they sell the house you are holding … (7 comments)
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connecticut: We're All Just Three Months Away From Foreclosure - 05/13/08 06:06 PM
I was in the office the other day talking with a colleague.
We were discussing the market. Our business. Our projected business. We laughed. We made some jokes.
Then we broached the topic of all the short sales and foreclosure properties on the market. Short sales have definitely become the new big thing around here. And, the already-foreclosed homes have begun trickling onto the market.
We discussed why some people may find themselves facing foreclosure. It all comes down to this:We're all just three months away from foreclosure.
If we were to lose our job, not be able to find a new one, … (2 comments)
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connecticut: Another Offer on Another Short Sale - 05/13/08 05:41 PM
Yesterday, clients of mine wrote an offer on a Danbury, Connecticut townhome they hope to buy. The property is being sold as a short sale, which means the sellers owe more than what the property is worth in its as-is condition in today's market.
We wrote a solid offer. Of course, another offer came in the same day.
I've warned my buyers on the issues they will now face with attempting to buy a short sale:
We will probably wait about 4-6 weeks before learning if the bank will accept the offer. I've waited as long as five months on others. … (4 comments)
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connecticut: New Milford, CT - April, 2008 Real Estate Market Report - 05/11/08 10:12 AM
New Milford, Connecticut Real Estate Update April, 2008
Closed home sales in New Milford, Connecticut:
Single Family Homes:There were 17 single family home sales closed in New Milford, CT.List Prices ranged from $269,900 - $609,900.Closed Sales Prices ranged from $240,000 - $620,000.
The average closed real estate sales price for single family homes in New Milford was $367,317.The median closed sales price was $362,000.On average, these homes sold for 96% of their final list price.Days on Market ranged from 41 - 691 days, with the average being 238 days of market time.
This compares to 27 single family homes closed in April, 2007, with an average closed sales … (0 comments)
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connecticut: Brookfield, CT - April, 2008 Real Estate Market Report - 05/11/08 09:52 AM
Brookfield, Connecticut Real Estate Update April, 2008
Closed home sales in Brookfield, Connecticut:
Single Family Homes:There were 12 single family home sales closed in Brookfield, CT.List Prices ranged from $320,900 - $715,000.Closed Sales Prices ranged from $317,000 - $715,000.
The average closed real estate sales price for single family homes in Brookfield was $441,933.The median closed sales price was $376,500.On average, these homes sold for 96.9% of their final list price.Days on Market ranged from 41 - 528 days, with the average being 233 days of market time.
This compares to 8 closed sales in April, 2007, with an average sales price of $430,375 and a median closed … (0 comments)
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connecticut: Danbury, CT - April, 2008 Real Estate Market Report - 05/11/08 09:35 AM
Danbury, Connecticut Real Estate Update April, 2008
Closed home sales in Danbury, Connecticut:
Single Family Homes:There were 29 single family home sales closed in Danbury, CT.List Prices ranged from $149,900 - $749,000.Closed Sales Prices ranged from $139,900 - $718,000.
The average closed real estate sales price for single family homes in Danbury was $369,302. The median closed real estate sales price was $319,250.On average, these homes sold for 97.4% of their most recent list price.Days on Market ranged from 2 - 832 days, with the average being 177 days of market time.
This compares with 39 closed sales in April, 2007, with an average closed sales price of $430,225 … (0 comments)
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connecticut: Sherman, CT - April, 2008 Real Estate Market Report - 05/11/08 09:03 AM
Sherman, Connecticut Real Estate Update April, 2008
Closed home sales in Sherman, Connecticut:
There were 3 home sales closed in Sherman, CT.List Prices ranged from $359,000 - $597,500.Closed Sales Prices ranged from $330,000 - $572,000.
Marketing time ranged from 191 - 290 days on market. The average was 237 days on market.This compares with 4 closed sales in April, 2007, with an average sales price of $549,700 and a median sales price of $505,750.
Currently available homes for sale in Sherman, Connecticut:
Currently, there are 61 homes for sale in Sherman, CT.List Prices range from $299,900 for a small cottage with beach rights to $3,300,000 for … (0 comments)
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connecticut: New Fairfield, CT - April, 2008 Real Estate Market Report - 05/11/08 08:54 AM
New Fairfield, Connecticut Real Estate Update April, 2008
Closed home sales in New Fairfield, Connecticut:
There were 6 home sales closed in New Fairfield, CT.List Prices ranged from $310,000 - $1,695,000.Closed Sales Prices ranged from $302,500 - $1,565,000.
The average closed real estate sales price for New Fairfield was $640,475.The median closed real estate sales price for New Fairfield was $405,675.On average, these homes sold for 94.4% of their final list price.Days on Market ranged from 43 - 239 days, with the average being 110 days of market time.
This compares with 12 closed sales in April, 2007, with an average sales price of $533,541 and a median … (0 comments)
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connecticut: Offers on Short Sales - 05/09/08 06:48 PM
It finally happened. Many didn't believe me. But now I've seen it happen.
A home is listed for sale as a short sale - the sellers owe more on the home than it is worth in today's market.
Here's the scenario (the specifics have been changed, but the story still works):This home has been on the market for a while now - over six months. The price has been reduced and now stands at $375,000 - a real bargain for this home.
Of course, soon after this price reduction an offer came in: $370,000, all cash, as-is, no contingencies.
Sounds great, … (4 comments)
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connecticut: What to Offer? - 05/09/08 06:35 PM
Buyers in this market often wonder how much to offer on a house they want to buy.
Some just wildly assume they can offer 10% or 20% or 30% less than list price.Others have read an article in the paper that they should offer less than 10% of list price, and buy for no more than 90% of list price.Others just don't know what to do.
What should you offer? If you want the house, then offer fair market value.
We will look at what comparable homes have recently sold for. We will create a market analysis for the property and determine … (3 comments)
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connecticut: How Not to Sell Your Home - 05/06/08 08:04 PM
I'm not a fan of combination lockboxes. That much I admit.
I know that sometimes they are required. Particularly for bank-owned foreclosure properties - sometimes the banks require that we use these combination lockboxes.
But this was a new one for me. Showing Instructions: Email listing agent
That's it. Just email the agent. (To be fair, they did give the listing agent's email address). No lockbox code is given in the listing - to get it, you have to...email the listing agent.
So, I planned on showing this home today. I emailed the listing agent two days ago. No response. I … (12 comments)
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connecticut: Brookfield, CT Home For Sale: Major Fixer - 04/27/08 08:12 PM
Brookfield, Connecticut Real Estate For Sale
35 Old New Milford Road, Brookfield, CT $210,000
*** SOLD AUGUST, 2008 *** MULTIPLE OFFERS ***
Major Fixer Ready for a Project? This is it! 4 Bedrooms, 1 Full Bath Formal Living and Dining Rooms It Needs Work - A Lot of Work Conveniently Located near Federal Road
Fix it up and make it your own. Don't miss this great Brookfield home!
Contact Don Fabrizio-Garcia today for your private showing 203.746.1199
Keller Williams CT RealtyCT Home Groupdon@FabRealEstate.comwww.FabRealEstate.com
Brookfield, Connecticut Real Estate
… (0 comments)
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connecticut: Danbury, CT Home for Sale: Remodeled Single Family Home - 04/27/08 08:06 PM
Danbury, Connecticut Real Estate For Sale
1 Thorpe Street Extension, Danbury, CT $186,000
*** SOLD NOVEMBER, 2008 ***
Turn-of-the-Century Home Remodeled in the 1990's 3 Bedrooms Plus Den 1.5 Baths 1,597 +/- Square Feet One Car Garage Convenient Southern Danbury Location Needs Work - Make This Your Affordable New Home Today! Don't miss this great Danbury home!
Contact Don Fabrizio-Garcia today for your private showing 203.746.1199
Keller Williams CT RealtyCT Home Groupdon@FabRealEstate.comwww.FabRealEstate.com
Danbury, Connecticut Real Estate
… (0 comments)
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connecticut: Danbury, CT Home For Sale: Multi-Family Fixer Opportunity - 04/27/08 07:57 PM
Danbury, Connecticut Real Estate For Sale
48 Locust Avenue, Danbury, CT $185,000
*** SOLD *** March, 2009 ***
Two Homes on One Lot - Wonderful Multi-Family Fixer Opportunity Main House with Formal Dining Room, Formal Living Room, Wood-Burning Fireplace Rear One-Bedroom Cottage Plenty of Off-Street Parking Needs a Lot of Work - Fix it Up and Reap the Rewards
Fix it up and make it your own. Don't miss this great Danbury home!
Contact Don Fabrizio-Garcia today for your private showing 203.746.1199 … (0 comments)
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