October/November 2008 Central CT Median Sales Price by Town
December 12th, 2008 categories: Real Estate Market
Here is a look at the median sales price, number of sales and average days on market by town for the fourth quarter of 2008 YTD, October and November, in Hartford County.
Note: I highlighted Farmington to show how statistics can be misleading. Farmington’s median sales price in all of 20008 hovered in the mid to high $300,000 but with fewer sales and more sales in the higher price range, the median sales price in October/November almost doubled.
And how are we doing compared to October/November 2007?
October/November 2007
Median Sales Price $250,000
Average Days on Market 64
Total Number of Sales 1019
So, there are about 8% fewer sales, homes are taking about the same time to sell but the median sales price has fallen from $250,000 to $230,000.
But if you look only at November’s sales statistics and compare them to last year, the decline in number of sales is more dramatic.
November 2007
Median Sales Price $248,000
Total Number of Sales 507
November 2008
Median Sales Price $225,000
Total Number of Sales 384 (a 34% decrease in number of sales)
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Holiday Feral Cat Food Drive December 13th and 14th 2008
December 8th, 2008 categories: Central Connecticut News & Information, Pets & People
I’m hosting a feral cat food drive this weekend at my RE/MAX office in Newington to benefit Our Companions Domestic Animal Sanctuary.
Stop by this Saturday and Sunday, December 13th and 14th 2008 between from 10 AM - 3 PM and drop off any unopened containers of dry or wet cat/kitten food.
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Updating a Rental Apartment’s Bathroom With Style
December 4th, 2008 categories: Investors/Landlords
When updating a rental apartment, you have to balance a few things: budget, quality, quick turnaround and marketability. Landlords have a hard time with this. The approach many take is to forget quality and focus on the budget. Personally, I think you can achieve all of the above - budget, quality, quick turnaround and marketability - with style.
Here’s how I did just that last month when I remodeled a bathroom in a rental. As you can see from the before pictures, it was definitely time.
Before the Bathroom Remodel
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Thankful for the animals…and for those who save them
November 26th, 2008 categories: Pets & People
I heard this article read on a radio show today but it originally appeared in USAToday. It is an opinion piece called “Thankful for the animals…and for those who save them.”
Animal rescue organizations are going to be facing some tough times with the economy - not only will they struggle to raise money but more pets will be abandoned and killed at shelters.
I don’t like to preach but if you’re considering getting a pet this year or next, please consider adopting a homeless pet or donating (or donating more) to your local rescue organization and/or no-kill shelter.
There are so many wonderful, faithful pets who will appreciate the second chance you’re giving them - pets like Nigel (see Take Me Home on right).
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Is Real Estate Ever Worth Nothing?
November 25th, 2008 categories: Central Connecticut News & Information, Real Estate Market
I was watching Morning Joe today. Fill-in co-host, Chuck Todd, said something I’ve heard before - that some homes are worth nothing.
I can think of few instances where a home could be worth nothing.
Nuclear waste spill. Located on earthquake fault line. Maybe.
Even this instance, where a woman paid $1.75 for an abandoned home in Saginaw Michigan. That seems ridiculous to people in CT where our median home price is around $240,000 but in Saginaw, the median sales price is about $76,000, according to Zillow. Given the state of the economy in Michigan. $1.75 seems about right (the buyer also has to pay some back taxes).
People will always need a place to live. There is a finite supply of land. The population keeps growing.
Sure, real estate can go down in value because of the economy, too many homes on the market, not enough buyers, mortgages harder to obtain, catastrophic events like 9/11, etc. But it’s hardly ever worth nothing.
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