Median Sales Price and Days on Market By Town in Connecticut
November 18th, 2008 categories: Central Connecticut News & Information, Real Estate Market
Median Sales Price, Number of Sales and Average Days on Market by Town for Hartford County Connecticut.
How does October compare to the first, second and third quarters?
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Central Connecticut Real Estate Market Report 11.17.2008
November 17th, 2008 categories: Central Connecticut News & Information, Real Estate Market
From the Greater Hartford Association of Realtors, October 2008 sales statistics show:
There were fewer new listings in October 2008 compared to last year but overall there are more homes on the market.
The median sales price shows a big decline - now $230,000. It’s been around $240,000 - $250,000 this year.
Fewer homes are selling and those that are selling spend more time on the market.
The biggest decline is the dollar volume of sales which directly impacts real estate agents and brokerages. I’m already noticing offices closing and hear anecdotal evidence that agents are leaving the business.
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BusinessWeek Names West Haven Best Place in Connecticut to Raise Kids
November 13th, 2008 categories: Central Connecticut News & Information
Courtesy of a client who just purchased her first home in West Haven and forwarded this to me today (proud of her selection), I bring you BusinessWeek’s Best Places to Raise Kids in 2009.
According to the article, affordability was the key.
“…we selected towns with at least 50,000 residents and a median family income between $40,000 and $100,000. We then narrowed the list of towns using the following weighted criteria: school performance; number of schools; household expenditures; crime rates; air quality; job growth; family income; museums, parks, theaters, and other amenities; and diversity. We weighted school performance and safety most heavily, but also gave strong weight to amenities and affordability.”
East Hartford and Norwalk were named as runner-ups.
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2009 Tax Credits for Connecticut Energy Saving Home Improvements
November 11th, 2008 categories: Central Connecticut News & Information, Home Owners
Courtesy of the bailout bill, homeowners can take advantage of several federal tax credits to help save energy and encourage conservation or the use of alternative energy sources.
The credits include:
10% credit (up to $500) for installing insulation
10% credit (up to $500) for exterior and storm doors
10% credit (up to $200) for window/skylight/storm windows
30% credit (up to $2000) for solar water heating system
30% credit (up to $2000) for geo-thermal heat pump system
There are also credits for certain types of roofs, furnaces and boilers, and biomass stoves. For full details on these credits, visit the Energy Star website.
There are also some rebates available through the State of Connecticut. For example, you can qualify for a rebate on a replacement furnace of up to $500 (rebate is on a sliding scale based on adjusted gross income).
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Beganski’s Law of Buying Real Estate
November 10th, 2008 categories: Central Connecticut News & Information, Home Buyers, Real Estate Market
Beganski’s Law of Buying Real Estate in any market is:
“If you are about to write up an offer to buy a house, another buyer has just submitted an offer or is currently writing one.”
Although more common in a seller’s market, Beganski’s Law of Buying Real Estate also occurs in a buyer’s market. In a buyer’s market, the effect is more significant, causing buyers to wonder if the other offer even exists. In a seller’s market, buyers must assume there are other buyers about to put in offers.
Not only have I witnessed this happening to my clients, it happened to me this weekend which is why I finally named it.
I went to see a house I’ve noticed in the MLS for 3-4 months but never had a chance to go see it in person. I liked it enough to talk to the listing agent who told me an offer was just negotiated and accepted.
Of course there was. Moving on…
Beganski’s Law of Buying Real Estate strikes again.Don’t lull yourself into thinking that in this market, you will be the only buyer interested in a particular property. In other words, DON’T be like me.
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