Sales Data: Birchwood Complex, Danbury, CT- Recent Townhouse Sales

As you proceed down Crows Nest Lane in the Shelter Rock neighborhood of Danbury, CT you'll come across Birchwood; a well-known & popular condominium community featuring both Ranch & Townhouse style condominiums for rent & for sale.

Entrance to Birchwood Community - Danbury, CT

Birchwood Townhomes have outperformed other condominium complexes in the area, showing far less depreciation than neighboring communities. I have posted recent sales data going back 6 months & covering the period of September 2008 through March 2009. I also point to indicating factors of future value.

4 Sales for period spanning September 2008 - March 2009

Sept. 2008 - Unit 7J

Oct. 2008 - Unit 17K

Jan. 2009 - Unit 13E

Feb. 2009 - Unit 20E

Average Sale Price for this period = $230,350 

Pool & Tennis Courts are just a couple of the Community Amenities offered at the Birchwood Community

Bank Owned Townhouses at Birchwood

When there are Bank Owned properties in the community future value can be effected. Bank Owned (Foreclosure) properties will usually sell at a discount to market value. These lower priced sales erode the value of comparable properties at the complex. Currently there is 1 Townhome selling that is a Bank Owned.

Pending Sale - Unit 20F

• List Price: $179,900

Although the Sale Price is unknown until the deal is closed if we assume that the property sold at full price & then we factor in this fifth sale for the 6 month period we would see a drop in the average price of Birchwood Townhomes from $230,500 to $220,000. Although prices have remained stable on the townhomes this addition of a bank owned property under contract indicates a downward trend in prices. If you facotr in the September 2009 sale falling off next month- this is the highest price sale in the averaging; then future value would further deteriorate.

In a Buyer's Market like we are experiencing now it is sometimes wise to sell & take a loss if you can take advantage of low interest rates & low home prices to purchase up. Currently there is one Townhome on the market at Birchwood.

• For Sale - $229,900

If you have paid more for your unit than what the current value is & you are currently experiencing a financial hardship you may be eligible for a short sale on your property. This is where your Realtor negotiates with your bank to take less than what is owed on your current mortgage. The difference between your loan amount & the sale price is written off by your lender. Realtor & Attorney fees are also paid by the lender.

If you are looking to sell your Townhome (or Ranch) at Birchwood I would be happy to provide you with an up to date Market Value Analysis. Please contact me at (203) 442-3873 to set up a time that is convenient for you. I can also be reached via my personal email at petertesta@yahoo.com

Peter Testa, Nationwide Homes, 57 North St Suite 322, Danbury, CT 06810

Listing Agent for Birchwood & Short Sale Specialist

www.petertesta.com