Saturday, February 20, 2010

Open House Sunday February 21, 2010. Affordable Upscale Condo at The Village of New Canaan


Open House Tomorrow
Sunday 2/21/2010
2-4pm
85 Locust Ave  Unit #516
New Canaan

Priced at $325,000, this one floor unit is maintenance free with private deck overlooking the rear quiet gardens of the complex. Affordable monthly charges of only $185 and finished lower level gym/office with wall of custom storage closets. Parking right outside the unit.  No steps.

Also for rent at $1900 month.

What a Great Piece of Real Estate



I was in Grand Central Station  the other day and it continues to amaze me as to the importance of this vital landmark. Not only is it an integral part of the movement of the city, over 500,000 people pass through it each day. Originally built in 1913, it is as beautiful, vibrant and as useful today as was it's original intention almost 100 years ago.

Friday, February 19, 2010

The New Canaan News writes about this Blog

I was interviewed for an article in the New Canaan News which appeared yesterday about bloggers in New Canaan. Brittany Lyte did a very nice job. The article highlighed 4 bloggers and a fairly good part of the article was about me and this real estate blog. I would love to hear what you think so please let me know.

Tuesday, February 16, 2010

Tax credit for energy efficient home upgrades

You can claim 30 percent of what you spend on qualified improvements up to $1500 for 2009 and 2010 combined.  This 30% tax credit can be taken for adding energy saving improvements to your home such as certain heating and cooling systems, water heaters, energy efficient windows, doors, insulation and certain roofs.  Installation is not covered. Look for the manufacturer's certification that the product qualifies as energy efficient under the terms of the new law. An energy star designation is all you need. You would have to spend $5,000 over a two year period to claim the full $1500.

http://www.nytimes.com/2010/02/14/business/yourtaxes/14energy.html?scp=1&sq=dont%20overlook%20the%20rewards%20for%20thinking%20green&st=cse

Sunday, February 14, 2010

New Canaan, How are we doing so far this year?


The answer is good. Buyers are coming out and looking, some homes are going pending and compared to last year, we are light years ahead in sales. During the first 6 weeks of 2009 compared to the same time frame this year, there were actually no sales at all in New Canaan. So far to date, we have had 16 closings with the average sales price of $1,660,000. These sales took an average of 271 days on the market and sold at 91.92% of asking price. Not too bad.

The following is the list of homes that sold

6 Leslie Lane $585,000
74 Thayer Drive $735,000
82 Woodland Rd $850,000
165 Orchard Dr $890,000
103 South Ave $900,000
35 Benedict Hill $1,020,000
135 Lone Tree Farm $1,298,000
216 Carter St $1,800,000
380 Michigan Rd $1,875,000
87 Bald Hill Rd $2,295,000
12 Wascussee Ct $2,300,000
70 Thrush Lane $2,500,000
57 Welles Lane $2,600,000
219 Michigan Rd $2,676,750

In addition, there were also 5 condominium sales in New Canaan.

There are 208 homes currently on the market but there is another 20 homes that are pending or in contract ranging from $499,000 to $3,875,000 with a median listing price of $1,495,000.

I see some pressure from buyers who wish to purchase in the next few months as fears of mortgage interest rates rising cause buyers to act now. So for now, I see a markedly stronger sales market with lower inventory. If you are a seller thinking of selling your home this year, sooner is better than later as you will have less competition now, however, that will change as we get further into the spring and more sellers put their homes on the housing market.