| |
hamden real estate: State of the Foreclosure Market in Hamden 2011 - 01/27/12 12:53 PM
Recent headlines have stated that foreclosure homes accounted for 20% of all sales last year. That grabbed my attention, so I thought I would check to see how Hamden compared to the national statistics. According to the Greater New Haven Association of Realtors, 358 single family homes sold last year in Hamden. (That's up from the 354 I previously reported. Seems like some agents were slow to report their end of year closings.) Of the 358 Hamden sales, 44 or 12% were foreclosed properties. In addition, 28 or 8%, were short sales, which probably would have resulted in foreclosures. Added together, … (1 comments)
|
hamden real estate: Hamden sales in 2011 - 01/04/12 10:28 AM
Hamden experienced a slower market in 2011, which comes as no surprise to those of us who follow economic data. Despite lower listing prices and historically low interest rates, worries about jobs and uncertain local, national, and world economies weighed heavily on buyers' minds. Money was cheap last year, but really hard to get from banks. Wealthy people with great credit had no problem obtaining mortgages. This was reflected in the surprising number of homes that sold in the upper brackets - $750,000 and up. The middle range got hit hard and the low range, below $150,000, made up of short sales and foreclosures, … (0 comments)
|
hamden real estate: Snapshot of Hamden sales YTD 2011 - 09/06/11 01:50 PM
Now that we are back from the Labor Day break, it feels like a good time to take stock of what is going on in our local market. Here in Hamden, sales of single family homes year to date number 225. This compares to 287 at the same time last year, so we are down 22%. Barring any unforeseen stimulus packages, it looks like a down year. Ever the optimist, I'm thinking we can only go up from here, right?
Our average sales price is $236,568, down from $250,135 a year ago. "Average" roughly translates to a 1700 square foot house with 1.5 to … (0 comments)
|
hamden real estate: Close with Bank's Attorney - Get Free Title Policy - 08/17/11 01:39 PM
Free? Did you say free? Not so fast - there is always THE CATCH.
I am presently working with buyer clients on purchasing a bank foreclosure in Hamden. When the offer came together, based on the purchase price, the bank sent over its contract. This is standard procedure, but I advise my clients to read the bank contract very carefully, because it is written 100% in favor of the bank. There is nothing illegal about this; it is just something anyone buying a foreclosure should be aware of. No one likes surprises at the closing table, like added taxes due or … (6 comments)
|
hamden real estate: The Sprint towards April 30th - 04/19/10 07:30 AM
I don't know about your area, but here in Hamden, CT, the market has really picked up. There are lots of buyers looking to get into a contract on a home before the April 30th deadlline, to qualify for the tax credit. We are even seeing mulitple offers on homes. It's been a while since we saw that. I expect the next two weeks to be a marathon, but at sprinting speed.
The first time homebuyers tax credit helped our real estate market at the end of last year. The first quarter of this year was slow, but April has really taken … (3 comments)
|
hamden real estate: First Quarter Hamden Market Report - 04/01/10 01:12 PM
We saw a significant jump in inventory this quarter, as the temperature started to improve. As of this morning, there are 252 single family listings in Hamden, of which 41 are on "on deposit/continue to show" status. The bulk of the inventory (95 homes) is priced between $200-$300,000. Of these listings, prices have been raised on only 6 homes. There are fewer price cuts, however, probably in anticipation of a good month for sales in April. Buyers have 30 days to make their choices and get a house on deposit to qualify for the first time homebuyers tax credit of $8000.
Of … (0 comments)
|
hamden real estate: Whitneyville Arts and Crafts Charmer for Sale - 03/15/10 01:02 PM
If you like the Arts and Craft style, I have a new listing in Whitneyville for you, at 67 Putnam Avenue. It offers the best of Whitneyville - charming architecture and a walkable neighborhood with all the basic goods and services anyone would need. There is a convenience store across the street, and the library, the bank, the post office, a yoga studio, a book store, a food store, restaurants and various services within a several block area. Most importantly, it is located in a real neighborhood filled with people from all walks of life, who love to call Whitneyville home. The home … (2 comments)
|
hamden real estate: Snapshot of Hamden sales YTD - 03/03/10 09:43 AM
The picture is looking rosier. The inventory is still low in Hamden, about 200 active listings, even as we march towards the April 30th deadline for first time homebuyers' to be eligible for the tax credit. I took a look at what has sold in town since January 2nd, and found that 46 single family homes have closed year to date, vs 36 in the same period in 2009. Of these, a sobering 20 were bank owned or short sale properties. These short sales statistically brought down the average sale price in town to $135.29 from the mid $150s at the … (0 comments)
|
hamden real estate: The State of the Hamden Market 2010 - 01/05/10 09:55 AM
There is no inventory! As of this morning, there are only 148 active listings in our town of over 60,000 people. Another 19 single family homes are on "show" status, indicating that there is a contract on the table, pending financing and other contingencies. Anyone looking for a home in town, has very little to choose from in any price range. The bulk of the inventory is priced between $200,000 - $300,000, with the averaging listing price of about $250,000. $300,000 can buy you a three bedroom, two bath, 2000 square foot home. Prices seem to be stabilizing. While we are seeing … (2 comments)
|
hamden real estate: The Real Estate Roller Coaster..... - 11/18/09 01:00 PM
or is it the Fun House? Either way, we Realtors have to manoeuvre dips and turns and blurry images to figure out where the market and overall economy are going. The headlines seem to change every day. Today's news from the Commerce Department states that housing starts fell in October, due to a sharp decline in new residential construction. But it this a bad thing?
If we have too much unsold construction out there, doesn't it make sense to sell that first before anyone takes on new projects? I would think this dip could be positive, by helping us move the existing … (0 comments)
|
hamden real estate: Whitneyville in February - 02/03/09 09:58 AM
If you like an old fashioned community with quaint homes, apartments, and small shops, you will love Whitneyville in Hamden, CT. Whitneyville is home to Home & Hearth Realty, so I spend a lot of time here. It's flurrying lightly today - we expect heavier snow later. The weather, however, isn't as relevant here, because people can walk to shops if they need anything, without necessarily depending on their cars. On a snowy day there is nothing better than lunch at the Playwright. It is a true pub, with delicious pub fare and very good daily specials. Their Shepards Pie or Guinness … (0 comments)
|
|
|
|
|
|
Millie Legenhausen, CRS, GRI, CIPS, MBA
Hamden,
CT
More about me…
Home & Hearth Realty, Hamden, Connecticut
Address: 1220 Whitney Avenue, Suite C-1, Hamden, CT , 06517
Office Phone: (203) 287-1886
Cell Phone: (203) 214-4447
Email Me
Local market commentary, general economy commentary, sharing of lessons learned from years of experience in changing real estate markets.
 Listings
Links
Archives
|
;)
;)
;)
