New Canaan Real Estate

Open House in New Canaan this Sunday 264 Lukes Wood Road

2012-01-27T08:59:00.000-05:00

This fabulous Colonial on Lukes Wood Road is open this Sunday. Please stop by between 2-4pm. Private and serene and situated on 4 acres, this home is well priced to sell at $2,199,000. Click here for more details.

Voters concerned about jobs and housing

2012-01-25T16:51:00.001-05:00

Jobs and housing will be the top two issues in this year's mnational elections, a poll by NAR's consumer facing web site http://www.houselogic.org/ finds. Respondents were asked "What issue will have the greatest impact on your vote in 2012? Their answers: Jobs and unemployment, 54%, housing 27%, national security 8%, health care 4%. Click here to read the article.

What do luxury clients look for in an agent?

2012-01-05T13:19:00.000-05:00

Click here to read the article I wrote which was just published in The Daily New Canaan

A $400 million twist: Huguette Clark, owner of New Canaan estate, signed two wills, one to her family

2011-12-01T08:19:00.001-05:00

What a fascinating story and full of details. Read on............

A $400 million twist: Huguette Clark signed two wills, one to her family

65 Parkers Glen, New Canaan, Ct Bank Owned Property Closed Today

2011-11-18T15:23:00.000-05:00

This home is a classic representation of the banking failures in the height of the housing boom. Originally listed for $6,195,000 in 2006, it was forclosed on by the bank this year. My astute client was able to purchase this property for $2,950,000. With over 7500 sq ft of living space, it is truly a beautiful home and had it been priced in moderation 5 years ago, it would never have met with the same fate. I believe the buyer is very happy.

Chichester Road estate in New Canaan to be featured on television series

2011-10-27T16:50:00.001-04:00

The network television series “OpenHouse NYC” will feature 153 Chichester Road in New Canaan as part of its Sunday, October 30, episode. The show, which airs on NBC Channel 4 on Sunday mornings at 8:30, focuses on luxury real estate properties on the market in the New York metro area. The houses featured in each episode represent some of the finest work in both traditional and contemporary home design and feature expert commentary and interviews with homeowners. The 15,000 square-foot Chichester Road estate, built in 2006 by the home’s owner Joe Sisca, is priced at $13,850,000 and is set on a seven private acres, and features 10-foot coffered ceilings, nine fireplaces, and limestone and oak floors. The home is listed with Barbara Cleary’s Realty, an exclusive affiliate of Christie’s International Real Estate.

YEAH!! SIDEWALKS COMING TO MAIN STREET NEW CANAAN THIS SPRING

2011-10-20T09:35:00.001-04:00

THE TOWN COUNCIL HAS VOTED TO INSTALL SIDEWALKS ON MAIN STREET ALL THE WAY DOWN TO FARM ROAD. THE NEW SIDEWALKS WILL CONTINUE DOWN THE EAST SIDE OF MAIN STREET AND THE CONSTRUCTION WILL BEGIN THIS SPRING. THE PHOTO PRINTED IN THE DAILY NEW CANAAN SHOWS CURRENT SIDEWALK IN FRONT OF MY HOUSE WHICH WILL BE REDONE AND CONTINUED TO FORM A PEDESTRIAN WALKING LOOP IN NEW CANAAN.
GOOD JOB!! READ THE STORY HERE

OPEN HOUSE THIS SUNDAY IN NEW CANAAN OCTOBER 16 1-3PM 264 LUKES WOOD ROAD

2011-10-14T09:03:00.005-04:00

264 LUKES WOOD ROAD
JUST REDUCED TO NEW PRICE OF $2,199,000
Custom Built Colonial on 4 private acres. Over 6,000 sq ft of living space. Quality construction and open floor plan. Come and take a tour. Look forward to seeing you.

Norwalk Waterfront Pending Contract

2011-10-13T09:12:00.000-04:00

My clients have signed a contract to close on this fantastic waterfront property located at 64 Quintard Ave in Norwalk. Yes, you can purchase direct water and fantastic constuction at the listed price of $999,000.
With over 2500 sq ft, this 10 year old but nearly new Colonial has it all. Open floor plan, dynamite kitchen, fireplaces, and a killer view. Check out the pics and let me know if you would like me to go shopping for you.

Palm Beach Mansion for sale

2011-10-11T08:08:00.000-04:00

Over the weekend, I visited this home which belongs to a friend. It is now in the estate of his parents and he did grow up in this home. Located incredibly in the crossroads of Palm Beach on 8 Golfview Road, it is situated next to The Everglades Club, is located one block from the ocean and is steps from Worth Avenue. What a jewel. The house needs total renovation but the location is one of a kind. Priced at $7,250,000, it has maids quarters, a butlers apartment and is sitting on a double lot. Click here to see more details. It has only been on the market about one month and is listed with Sotheby's Palm Beach Office.

Another Bank Owned Foreclosed Home for Sale in Fairfield Connecticut

2011-10-07T10:40:00.000-04:00

Emigrant Bank has foreclosed on this spacious 5 Bedroom Colonial on 2 acres. Unlike some other foreclosed homes, this property is in good condition and has experienced no vandalism. It has a spacious and open floor plan and it is an amazing 5479 sq ft. Let me know if you are interested. It is listed at $1,199,000

The New Iphone 4s vs Iphone 4 Comparision Chart

2011-10-06T09:38:00.006-04:00

The new iphone 4s was released yesterday. Although it will have a faster processor, the major change as I see it is better camera/video quality. Not the higher level expected from Apple. The 4s might even be outpaced by rapidly releasing android phones in a matter of months. I think I will wait for a more exciting Iphone 5 in 2012.

Bill Raveis at my office today

2011-10-04T23:32:00.000-04:00

Bill Raveis had great news for New Canaan. Of all the towns in Connecticut, New Canaan had the highest appreciation year to date through August 2011. Our average sales price was up14.2% from $1,660,603 to $1,896,725. In addition, the median price also rose 9.8% and the days on the market dropped to 145 days. We will be doing a major interior renovation of our office space as the company is continuing to invest in our real estate market. New Canaan is the best place to live and work.

Norwalk Hospital to Open Facility in New Canaan - New Canaan, CT Patch

2011-09-29T09:25:00.001-04:00

Norwalk Hospital to Open Facility in New Canaan - New Canaan, CT Patch

If you live in Connecticut, you will spend 54 hours per year in traffic congestion

2011-09-28T08:14:00.001-04:00

Read more about our wasted time.........................

We spend 14 more hours per year in traffic now than in 1982

Animal House in New Canaan, Ct as printed in the Wall St Journal

2011-09-21T09:05:00.001-04:00

I toured this highly unusual home in New Canaan listed at 13+ million. It belongs to an avid hunter who has accumulated his finds into a natural history museum highlighting his collection of over 100 stuffed animals, including bears, lions, wildebeasts and even a crocodile. Click on this link to read the Wall St Journal story. And for the latent hunter call me if you would like to see this house

Open House in New Canaan Today, Sunday Sept 18, 2011 1-3pm

2011-09-18T09:14:00.000-04:00

I will be hosting this open house today at

264 Lukes Wood Road
New Canaan, Ct.

Stop by a take a look. This gorgeous 6000 SF Custom Colonial was designed with an open floor plan that really works. It is set on 4 private acres and is well priced. Hope to see you there. Click on the link for more details.

These wine cellars are awesome. I want one

2011-09-17T07:57:00.000-04:00

Click here to see more pics.

New Canaan to mark 911 with service of rememberence

2011-09-09T22:55:00.000-04:00

A Service of Remembrance and Peace will be held by the New Canaan Clergy Association on the plaza of the Congregational Church of New Canaan on Gods Acre Sunday, September 11. It will be an opportunity for a very special reflection and remembrance that will include readings, psalms , prayers for wisdom and peace and hymns by area choirs.

Representatives of the town’s emergency services will hold a memorial procession from the Metro-North train station to the church plaza after gathering at 4:30 to honor those who selflessly responded the call on September 11, 2001. This will include members of the New Canaan Police Department, Fire Company Number 1, New Canaan Volunteer Ambulance Service and the Community Emergency Response Team. From there, bagpiper Stephanie Moore will lead the assembled group up Park Street to participate in the service.

All emergency responders are encouraged to gather at the train station at 4:30 p.m. or the Congregational Church at 5:00 p.m. as we honor our heroes, consider the lessons to be learned from every tragic event, and dedicate ourselves to a more loving and peaceful future.

In the case of inclement weather, the Interfaith Service will be held at St. Mark’s Episcopal Church

This article appears in The Daily New Canaan this week

2011-09-09T07:26:00.002-04:00

I was interviewed for this article about my career by Fenella Pearson. Attached is the article.

When Denise Gannalo, a real estate agent with William Raveis, started selling homes in 1982, it never occurred to her that her career would be like a ride on a rollercoaster. "I've seen it all," she says. "The stock market crash of the late '80s, the down market of the early '90s, the exuberance of the dotcom era, the post 9/11 global economic problems and now the current financial crisis."

Denise has sold hundreds of properties in all price ranges throughout Fairfield County in both up and down markets. She says the key to her success is her ability to adapt to changing market conditions. Her years of looking at houses have turned her into a pro at helping clients visualize ways to remodel or reconfigure a space. And as a real estate investor and property manager herself, she has a thorough knowledge of the rental and investment market in Fairfield County.

A longtime resident of New Canaan, Denise has an encyclopedic knowledge of the neighborhoods and properties in town. She particularly enjoys introducing newcomers to the amenities found in New Canaan. "We have wonderful schools — my children are products of the New Canaan schools," she says. And she loves the town center where you're always guaranteed to bump into someone you know.

Denise thinks of herself as a "high-tech traditionalist." A master of the latest computer technology, which allows her to respond quickly, she is a firm believer in old-fashioned customer service. Whatever the client's needs, Denise says she always tries to go that extra mile, especially when the negotiating gets tough.

It's not all about work, though. "I love to laugh with my clients. I share their hopes and their frustrations," she says. Simply put, Denise Gannalo loves what she does. Apart from her family, real estate is her passion. She works it, lives it and breathes it. Finding that perfect Connecticut property for her clients is Denise's idea of a perfect day at work.

New Canaan Advertiser Editorial: So many heroes

2011-09-08T10:06:00.002-04:00

Editorial: So many heroes

This editorial ran on Page 4A of the Thursday, September 20, 2001 issue of the New Canaan Advertiser. It is being reprinted here as part of the Advertiser's coverage of the 10th anniversary of the attacks on the World Trade Center.

There was no shortage of heroes last week as New Canaan joined the rest of America, and much of the world, in reaching out to victims of the terrorist attack on the World Trade Center.
Quick to arrive at the front lines, as they are every day here, were New Canaan police, fire-fighters and emergency medical personnel. They gave of their time and immediately responded to the city, some reaching ground zero of the explosions and building collapse that have left more than 5,500 missing, many of whom have ties to New Canaan.

Doctors treated the injured rescuers just feet from where the Twin Towers toppled, allowing them to quickly return to the task of searching for survivors.

Back in New Canaan, human services agencies and charities were collecting needed supplies and transporting them to the city. The Red Cross was swamped with blood donors. From the smallest school children, one of whom offered to donate a toy backhoe to help dig people out from under the ruins, to the founder of AmeriCares, who donated $1 million to a fund to help the families of the New York City firefighters and police officers killed during their initial rescue effort, the entire community seemingly offered its help.

In a show of patriotism, red, white and blue decorated the town and became the uniform of the day.

The community, indeed the nation, has come together. It will need to stay that way to get through the weeks and months ahead, as it will only get harder.

It has been nine days since fanatics flew planes filled with innocent travelers into offices filled with workers. With each hour, the hope of finding any more survivors in New York and at the Pentagon in Washington, D.C., fades like the dust and smoke still rising from the wreckage.

Obituaries for those who called New Canaan home, or who have family and friends here, begin to appear in today’s Advertiser. The bereaved will need our strength and support.

While rescue and recovery efforts continue, the world waits for a response to the attack. Certainly America will battle to find those responsible for last Tuesday’s sneak attack. There will be casualties on both sides.

The only way this town and country will get through this is to stay as united as we became during our immediate response to terrorism.

Previous generations have done it. Now it’s our turn.

Is owning a home still the American Dream?

2011-09-06T14:15:00.001-04:00

The story as it appears in The Daily New Canaan

Inside One World Trade Center

2011-09-06T09:12:00.000-04:00

A look inside the new tower and the city below.
Read more.............

Waterview Renovation in Milford Ct

2011-08-27T14:04:00.000-04:00

What a great buy. A friend of mine has just renovated this charming Dutch Colonial on Milford's shoreline with beautiful waterviews of the sound. Just finished and ready to move in, this is an incredible opportunity. Check out the video link above or for more details click here.

New Canaan Taste of the Town Stroll

2011-08-26T14:03:00.001-04:00

Last night was the kick off of Restaurant Week in New Canaan. The town was chocked full of people and the restaurants were packed. Restaurant Week will begin on Aug 26 through September 3 and will feature three course prix fixe menus at participating restaurants. The following restaurants will be part of this celebration. Be sure to try some out.

Bistro Bonne Nuit
Cava
Cherry Street East Cafe
Club Sandwich
Fifty Coins
Gates
Kouzina
The Pine Social
Plum Tree Restaurant
Sole
Thali
Tuscan

Chef Luis Restaurant in New Canaan

2011-08-24T22:09:00.003-04:00

Chef Luis is open for business. Luis is the best. His good nature combined with his delicious entrees are a winning combination. The expansion is awesome and the bar is spacious and inviting. Stop by and say hello to Luis. Click here to read the story

Sold and Closed in New Canaan for Over Asking. 47 Osborne Lane

2011-08-24T08:51:00.000-04:00

When I listed this unique property it was not just pristine and just about perfect, it was also priced perfectly. On the market for just one week, we received multiple bids and the property closed on Monday for $2,000,000 which was slightly above asking price. The pictures tell the story....................................

New Canaan Construction Activity Picks Up

2011-08-22T08:15:00.000-04:00

Building and remodeling in New Canaan is doing fine. Read about it in The Daily New Canaan.

http://www.thedailynewcanaan.com/news/new-canaan-construction-activity-perks

DOES YOUR HOUZZ LOOK THIS GOOD?

2011-08-16T10:16:00.002-04:00

Supriya Anand, William Raveis social media guru has found this awsome new app that I would like to share.

If you are searching for decorating and remodeling ideas! Well at last there is Houzz. Houzz is an iPad and iPhone app that helps homebuyers and homeowners search for remodeling tips. The app features over 150,000 inspiring photographs of every room imaginable in a house, so you can assemble ideas on how to remodel.

You can create what the app calls “Ideabooks”-batches of photos that you want to store for later use when you are ready to find someone to remodel and redecorate your home. As an additional source of inspiration, you can sift through over 500,000 ideabooks that have been created by other Houzz users!

I have already started my own ideabook and I am excited.

Once you have found a design you really like and think would work in your home, tap into Houzz’s database of designers, filtered by local area. This is a wonderful app that is a must for anyone interested in remodeling a home! Check out Houzz’s YouTube video for more information. www.houzz.com/iphone

Enjoy!!

How Stock Volatility Affects The New Canaan Real Estate Market

2011-08-14T14:27:00.000-04:00

62 Shagbark Drive is an excellent example of the value that is currently available in

the New Canaan market.

What a roller coaster ride the Dow Jones has been recently. In this article regarding insight into the market, I'll provide you with the real-time data about what is happening in New Canaan real estate. How can I do it? I track the sales every day, week, month, annually and over the decades.
Here is what I have seen since July 21 when the Dow started dropping (and since August 4 when it started becoming extremely volatile). Please note this article is based on New Canaan* data only. I track New Canaan because it is an important market in Fairield County real estate and it's at my door step, since my office is on Elm Street in New Canaan and I have been working in this market for the past 28 years.

Sales have been extremely steady and very, very stable since last year. As a matter of fact, since July 21, there were 141 sales compared to 144 last year almost the same. However, the average sales price has increased to $1,795,680 from $1,571,580 up 14%. Be aware that the majority of sales closings take place in the summer with slower sales closings through the fall until years end. This happens at this time of the year, every single year. I don't believe it is connected to the stock market.

My point: The buyers are here and are buying. However, I want to provide you with a market insight that you cannot ‘hear' from the data. All summer I have driven back and forth from one end of beautiful New Canaan to the other a zillion times. On each trip, I have been accompanied by buyers. Their reactions to the volatility, which I hear and experience first hand, fall into three categories:

The legacy buyer

The largest group believes that New Canaan real estate prices are low, are very good value and they feel comfortable buying today. These buyers are purchasing today for the enjoyment of their children's children.

The safe haven buyer

These people are fed up with watching their net worth climb and decline like a yo-yo. As a result, they tell me they are not listening to their finance advisor as much as they used to. I heard them say, “I am thinking for myself more. I'm not so sure our financial guy is really ‘our trusted advisor' these days.” These buyers see that New Canaan real estate is more stable than most other Fairfield County towns so they are buying here.

The ‘I've lost my shirt' buyer

These are the buyers who judge their net worth on market peaks. In essence, their ability to buy is determined by the stock market. These are, far and away, the smallest segment of clients with whom I drive throughout the county.

As you can imagine, this article is a very hard point to illustrate with a specific property, so this photo is an example of the kind of great value buyers are picking up right now. This home, which I listed early this year located in the popular South of the Y neighborhood was originally purchased August 2004 for $1,744,000 with many upgrades. When the owners decided it was time to sell, they listed the property with another broker in March 2006 for $2,095,000 which was the peak of the New Canaan market and it did not sell. I took the listing this year and priced it at 1,590,000. It closed this year on June 15 for $1,450,000!

Market insights for the week

Focus, focus, focus. If you are determined to buy or sell real estate in New Canaan, focus on this market. Know what is going on. Don't guess the impact the stock market might be having. Get the facts and use the facts to guide your decisions.

*Data from Flexmls

The Shift in The Real Estate Industry and William Raveis Real Estate

2011-08-10T05:50:00.000-04:00

The shift in the real estate industry is moving fast towards mobile technology. Click on the link to read how William Raveis Real Estate is on the forefront of this tidal wave.

Mobile devices are changing how businesses operate

2011-08-10T05:37:00.001-04:00

I certainly well aware of how my real estate business has changed for the better. Will we be moving to the virtual office??????? Read this article and then read my next post about William Raveis' cutting edge technology.

Mobile devices are changing how businesses operate - infographic

ForSalebyOwner.com founder gives up on own listing, hires real estate broker

2011-08-04T10:38:00.001-04:00

How true! Do you know how many times I have witnessed this scenario?? Too many.

Read on............

ForSalebyOwner.com founder gives up on own listing, hires real estate broker

Inman News Votes William Raveis Real Estate The Most Innovative Real Estate Broker

2011-08-04T10:21:00.001-04:00

This is quite an honor and a tribute to the hard work and leading technology of a great company.

2011 Innovator Awards Winners Inman News

3 New Canaan Closings 3 Different Scenarios

2011-08-03T09:12:00.001-04:00

On Monday these 3 properties closed but each one had quite a different story.

49 North Wilton Rd was originally listed in 2009 for $5,900,000 but it fell victim to the harsh realities of the real estate market particularly for high end homes. It closed at $3,750,000 and the buyer got a great deal for this property on 6 acres, 11000 sq ft main house, separate pool house and gorgeous swimming pool.

64 Butler Lane, located in the South of the Y neighborhood, was listed for $1,795,000 and sold in one week for over asking price at $1,820,000 with multiple bids. This traditional Colonial on 1 acre was in great condition and obviously benefited from it's much sought after location.

1 Mead St, a pristine condo located in Mead Commons was purchased for $1,000,000. It has 3 floors, 2 car garage and an elevator. The buyer got a great price considering that these condos sold in 2004 for $1,375,000.

Waveny House in New Canaan is Buzzing Again.

2011-08-01T09:50:00.001-04:00

What a great place to host a special event and it is really quite a bargain for such an elegant selling. Read on to learn more about Waveny House as story appears in The Daily New Canaan
NEW CANAAN, Conn. – Business is booming again at Waveny House, the stately mansion that is the centerpiece of the New Canaan's most spacious park. After a year of fewer bookings, the English country manor-style beauty is being used plenty, said Steve Benko, director of New Canaan's Recreation Department.

From mid-August to the first weekend of October, Waveny House will host at least two events every weekend, most of them weddings. In the past year, Benko said, the house was being rented only one day each weekend, largely because of the sluggish economy. “Business is picking back up,” he said. “Until the economy went south, it wasn’t unusual for us to have it used Fridays, Saturdays and Sundays for events.”

Waveny House, built in 1912 for the Lewis Lapham family, has been available to rent for 35 years and is used for town functions as well, including the New Canaan High School post-prom party. Residents can rent Waveny House for $1,500 a day. Out-of-towners pay $2,650.

With the uptick in use, the Recreation Department wants the building looking its best. Benko has already received approval to recaulk portions of the roof. The department will also spend about $250,000 to replace the floor of the patio, a project several years in the making. “The tiles were cracking,” Benko said. “In the winter, they would freeze and pop. They’ve had a useful lifetime.”

The patio renovation will begin sometime in late October when events are more likely to be held indoors, he said.

A Nod for Sidewalks on Main Street in New Canaan

2011-07-21T21:55:00.001-04:00

The sidewalk on Main Street currently ends at Main and Oak. Click here to read the story

The highest property tax payers in the State of Connecticut. Guess who pays the most in taxes?

2011-07-19T06:31:00.000-04:00

Click here to see the homes.

Gannalo earns top honors from Raveis for 2010

2011-07-14T09:31:00.002-04:00

Gannalo earns top honors from Raveis for 2010
Denise Gannalo, sales vice president of William Raveis Real Estate, has been honored as a Company Top Producer for the year 2010. Gannalo was also awarded the New Canaan office honor of the No. 1 individual sales agent receiving the awards for Top Listing Agent and Top Producer for 2010 as well as Top Agent in closed units for New Canaan.

In addition to her achievements in New Canaan, Gannalo was also awarded the recognition of the No. 4 Top Producing Agent in Connecticut and No. 6 Top Producing Agent in the entire company of 2,700 sales associates in 80 offices in seven states spanning New York through Maine. Gannalo currently has a personal listing inventory of properties for sale exceeding $35 million dollars.

Bill Raveis, chief executive officer and chairman of William Raveis Real Estate, presented the awards to Gannalo at the company’s annual awards luncheon at his home held Wednesday, May 25.

“Congratulations on your outstanding success as a Top Producer in the company for 15 years and New Canaan’s Top Individual Producer,” Raveis told Gannalo. “You have continuously demonstrated your superior sales knowledge and commitment to excellence throughout your 29 year career supported by your recognition as the No. 1 individual sales executive in the New Canaan office.

“As a member of our company’s ‘Chairman’s Elite Club,’ you also represent the top one percent of all agents nationwide. This achievement is testimony to your leadership and understanding of the New Canaan real estate market where you truly understand the high level of commitment that is required to service your clients.”

Gannalo has been a sales vice president for the company since 1996. She is also a managing director of the Exceptional Properties Division for the firm which focuses on the luxury home market. She is a Connecticut appraiser, a graduate of the Real Estate Institute, and is an industry trainer for the company often speaking to agents on the real estate industry. She ranks in the top one percent of all agents nationally. Gannalo is often quoted in the media as a real estate expert and writes a real estate blog newcanaanhomes.blogspot.com

Gannalo holds a broker’s real estate license and is a member of The New Canaan Board of Realtors as well as a member of the Consolidated Multiple Listing Service, which covers Fairfield County.

Her office is located at 4 Elm Street and she may be reached at 966-4444 or at denise.gannalo@raveis.com

Home sellers who bought after 2007 now overprice their homes 14%

2011-07-14T08:10:00.001-04:00

This is a great article and holds true even for the New Canaan market. I deal with this on a constant basis. Read on................

Home sellers who bought after 2007 now overprice their homes 14%

A visit to The Glass House in New Canaan

2011-07-12T08:42:00.001-04:00

I recently visited Philip Johnson's Glass House with a friend. I have posted some beautiful pictures below. The property is a statement in spacial order and design. The sum of the elements of the property each fit together to make a whole masterpiece. The tour lasted one and one half hours, was well commentated and is truly worth the trip. You can buy tickets on the website and pick them up at The Visitors Center on Elm Street in New Canaan.

Second Quarter New Canaan Results are in

2011-07-11T07:56:00.001-04:00

Well, in spite of the latest weak job and economic reports, the following hard data supports the New Canaan Real Estate market improving. After the first half of 2011, there is a distinct increase in average price, number of sales and sales volume over the first half of 2010.

The number of sales increased to 136 vs 116 for the first half of the year, a 17% increase.
Total volume increased to $255,314,365 from $183,758,650, a 38% increase.
Average selling price increased to $1,877,311 from $1,597,857 a 17% increase.
Days on the market decreased to 181 from 238, a 23% decrease.

We will be watching this positive trend and see if it continues. Meanwhile.............................

34 Wardwell Drive, New Canaan, Closing Today

My other June closings............

84 Stonehenge Closed at $1,950,000

58 Lakeview, Closed at $800,000

21 Shady Knoll, Closed at $1,650,000

2 Oakwood Lane, Westport Closed at $950,000

383 Greenley Road, Closed at $1,975,000

314 Birch Road Fairfield, Closed at $1,475,000

Prime Elm Street Retail available in New Canaan, Ct

2011-07-08T09:24:00.000-04:00

Wow. What an opportunity. 6 Elm Street, a prime retail location near the corner of Elm and Main has just come available. I have just listed this retail space for $3500 per month. The owner will do a 5 year lease. The store has high visibility and lots of foot traffic with street parking right in front. It has a full basement, large picture window and great presence. Call me to take a look.

Happy Fourth New Canaan

2011-07-04T07:11:00.000-04:00

A Happy and Safe Holdiay to All

Nicholas Roberts Restaurant mentioned as One of the Top Ten Spots for The Best Burger

2011-07-04T07:09:00.000-04:00

Check out the story on CT Bites

Gannalo earns top honors from Raveis for 2010

2011-07-01T08:27:00.000-04:00

Gannalo earns top honors from Raveis for 2010

What an incredible waterfront home in Darien, Ct

2011-06-27T18:53:00.002-04:00

I recently had the opportunity to visit a friend who has a home on the market for sale in Darien. It is really one of the most spectacular properties that I have seen given the location, views, architectural style and amenities. This stunning waterfront estate was built in 2006 and it overlooks the 5 Mile River and Long Island Sound. Some of its features are a beautiful swimming pool, dock, 8 fireplaces and balconies galore. It even has a fantastic wooden dance floor. It is priced for sale at $13,200,000 and is listed with Becky Munro of Halstead Properties and Doug Milne of Kelly Associates. It is simply magnificent. Click on the link to see more

New Canaan High School Seniors graduated yesterday

2011-06-22T11:35:00.001-04:00

Congratulations and Good Luck to all of you

This video was shot of me featuring a "Great Room"

2011-06-12T15:16:00.000-04:00

Check out this video. It took a lot longer to shoot than to watch but it was a lot of fun.

Stories From Main Street: New Canaan, CT

2011-06-07T05:51:00.001-04:00

Stories From Main Street: New Canaan, CT

Interior design trend spotting - stencils in decor

2011-06-06T08:01:00.002-04:00

Interior design trend spotting - stencils in decor

It's always nice to receive a positive testimonial

2011-06-04T15:53:00.000-04:00

My seller clients at 62 Shagbark Drive in New Canaan just sent me this testimonial regarding the recent sale of their home.

"Denise provided us with great advice in order to allow us to sell our house at a fair price in a very difficult market. Her proactive and good ideas as well as her energetic approach were crucial in attracting multiple buyers which ultimately allowed us to benefit from a competitive auction for the house. As long distance overseas sellers, Denise did a great job in representing us and we would strongly recommend her to anyone wanting to sell their home."

Barbara and Michael Davies

Public Open House Sunday June 5 1-3pm 264 Lukes Wood Rd

2011-06-02T08:27:00.000-04:00

Newly listed, this Colonial on 4 acres is a fantastic buy at $2,350,000
Stop by and take a look

Enjoy New Canaan's Ice Cream Social Sunday June 5

2011-06-02T06:34:00.003-04:00

Bring the family Sunday out under the big tent with the New Canaan town band for the Annual Ice Cream Social from 1-4pm at The New Canaan Historical Society 13 Oenoke Ridge Road.

Mysterious Heiress with New Canaan mansion died Tuesday

2011-05-26T05:09:00.003-04:00

Hugette Clark, owner of the mysterious and manicured mansion located on Dans Highway in New Canaan reportedly died Tuesday. The house, situated on 52 acres remains on
the market for sale.

Tis the Season for Price Reductions

2011-05-19T06:41:00.010-04:00

I am working with the most motivated sellers in the world. The following listings have just been reduced and the amazing buys. Check them out.

Huckleberry Hill Road. 24 Acres in New Canaan Reduced to $8,900,000

49 North Wilton Road. Grand Estate just reduced to $3,900,000

236 South Bald Hill. Just reduced to $3,490,000

Sophisticated Contemp at 34 Wardwell Drive. Just reduced to $2,095,000

123 Colonial Road, New Canaan. Just reduced to $1,895,000

8 Walter Avenue, Norwalk. Just reduced to $365,000 Amazing

A Great Overview of New Canaan Mid-Century Modern Houses

2011-05-18T07:28:00.001-04:00

Survey of New Canaan Mid-Century Modern Houses

Another Listing Sold and Closed. 62 Shagbark Drive. Multiple Offers Galore

2011-05-15T22:18:00.001-04:00

This popular home in New Canaan's South of the Y Neighborhood is closed. The new buyers paid $1,450,000 for this 5 bedroom comfortable home on a really nice one acre property. There were many multiple offers on this traditional Colonial but here can only be one buyer. Congratulations to the new owners and my best wishes for much happiness in this new home.

New Canaan Farmers Market opened today

2011-05-14T16:08:00.000-04:00

From now until Thanksgiving, The New Canaan Farmers Market is open for business every saturday from 10am to 2pm. They now have 23 vendors selling fruits, vegetables, plants, bakes goods and some great food including Skinny Pines which is wood fired thin crust pizza and fine food for gourmets from Du Soleil. It is worth the trip.

OPEN HOUSES THIS WEEKEND IN NEW CANAAN SUNDAY MAY 15

2011-05-12T07:10:00.000-04:00

GRAND OPENING AT 264 LUKES WOOD ROAD SUNDAY 1-3PM

$2,350,000

6,000 SQ FT COLONIAL ON 4 PRIVATE ACRES

TAKE A TOUR

OPEN HOUSE AT 123 COLONIAL ROAD SUNDAY 2-4PM

REDUCED TO $1,895,000

5200 SQ FT COLONIAL WITH GREAT RM, POOL AND SPA

TAKE A TOUR

New Canaan Getting New Cell Antenna

2011-05-11T11:14:00.001-04:00

A request from Verizon Wireless to put a cell tower atop the water tower next to West Elementary School was approved. Verizon has an agreement with Aquarion Water Company, which owns the tower. Town attorney Chris Jarboe told the Selectmen the request is consistent with the state’s recommendation for shared use of utilities, and said the tower will be surrounded with a “shroud,” so the antenna will not be visible.
“It will look like a traditional water tower,” Jarboe said.
Verizon will use the same accessway that Aquarion uses to service the antenna.
Tom Stadler said he informed Dr. Michael Lagas, Director of Finance and Operations for New Canaan Public Schools, who in turn sent information about the request to the Board of Education, Superintendent of Schools Dr. David Abbey and West School Principal Dr. Jill Corrrenty. Stadler said no negative comments had been received.
The request will be presented to the Town Council at its meeting on May 18.

Give $11 for 911

2011-05-09T18:13:00.001-04:00

Help Voices of Sept 11 provide support programs for 9/11 families, survivors and rescue and recovery workers.

Connecticut State Conveyance Taxes for Real Estate Increased

2011-05-05T15:13:00.001-04:00

L E G I S L A T I V E
Bulletin

CONNECTICUT ASSOCIATION OF REALTORS, INC. www.ctrealtor.com
111 Founders Plaza Ste 1101, East Hartford, CT 06108
(860) 290-6601 FAX: (860) 290-6615

May 5, 2011

REAL ESTATE CONVEYANCE TAXES INCREASED

The following changes are effective for conveyances occurring on or after July 1, 2011. They result from approval by the Legislature and Governor Malloy of Senate Bill 1239 (the state budget).

CAR vigorously opposed these tax increases and commends those 17 Senators and 67 Representatives who voted in opposition to Senate Bill 1239

CAVEAT: Questions remain as to whether SB 1239 is a truly balanced budget since State employee union concessions remain unidentified or agreed to. Accordingly, depending on those outcomes, the possibility exists that the Legislature could revamp these or other taxes in the next several weeks. This is what has been enacted and signed into law as of now.

MUNICIPAL CONVEYANCE TAX
Termination (sunset) date of higher current rate is revoked. The roll-back scheduled for July 1 is permanently cancelled. The practical effect in most towns is the rate continues at 0.25% except for these 18 targeted investment communities where the rate remains at 0.50%: Bloomfield, Bridgeport, Bristol, East Hartford, Groton Hamden, Hartford, Meriden, Middletown, New Britain, New Haven, New London, Norwalk, Norwich, Southington, Waterbury, and Windham and 0.35% in Stamford.

STATE CONVEYANCE TAX
Goes From To

Nonresidential 1.0% 1.25%
Residential

$800K or less 0.5% 0.75%

Portion over 800K 1.0% 1.25%

PROPOSED BUYERS CONVEYANCE TAX
This legislation, originally defeated n Committee, was resurrected as an amendment to Senate Bill 866 (concerning Wine Festivals) and awaits action in the Senate. CAR continues to lobby against it.

New Canaan #2 in US as Best School System for Learning by Great Schools.org

2011-05-03T08:05:00.000-04:00

http://www.greatschools.org/slide/4024-new-canaan-ct-2011.gs

Osama Bin Laden is Dead.

2011-05-02T07:36:00.000-04:00

Justice Done

6 Mistakes to Avoid While Selling Your Home - My Money (usnews.com)

2011-04-30T22:25:00.001-04:00

Good article from US News and World Report

6 Mistakes to Avoid While Selling Your Home - My Money (usnews.com)

New Canaan #2 in US as Best School System for Learning by Great Schools.org

2011-04-29T06:59:00.000-04:00

Saxe Middle School in New Canaan

New Canaan is being praised again by GreatSchools.org as one of the nation’s best towns for learning. And to hear Nick Williams tell it, they’re a little better than the California district holding down the top spot.

“They may have better surfing, but if I read the break correctly, we have a better school system,” Williams, chairman of the New Canaan Board of Education, said in a humorous salvo aimed at Manhattan Beach, Calif. New Canaan is listed by GreatSchools as the No. 2 education town with a median home price of $800,000 or more. Manhattan Beach was voted No. 1.

Westport, at No. 5, and Darien, at No. 6, also made the list. Ahead of them were two other California towns: Lafayette and Palo Alto. Rounding out the Top 10 are Orinda, Calif.; Weston, Mass.; Rye, N.Y.; and Cupertino, Calif.

Williams said the No. 2 ranking is great news for New Canaan, which was third in the 2010 GreatSchools rankings. “We’re delighted to be on the list last year, and we’re equally delighted to be on the list this year, especially since we’ve moved up,” Williams said. “It’s an honor for the entire district, the teachers and staff as well as the students and parents

The Daily New Canaan prints article about Denise Gannalo

2011-04-28T13:09:00.001-04:00

This interview with myself was published in The Daily New Canaan today

Denise Gannalo, a real estate agent with William Raveis in New Canaan.

New Canaan Agent Loves Coming Home

by Fenella PearsonToday
Photo credit: Fenella Pearson, ASID

Denise Gannalo is one of New Canaan’s biggest fans. She loves the town’s beauty, and the community involvement of the people. “Even though I grew up in Brooklyn, N.Y. and love the city, New Canaan has been my home for 32 years,” she says. “I always enjoy coming home when I’ve been away on a trip.”

Denise knows every nook and cranny of her town, which is hardly surprising since she’s sold homes to many of New Canaan’s residents. In her 29 years as a real estate agent, she’s handled more than half a billion dollars' worth of real estate transactions, which, she points out, “is a lot of homes.” For the past 15 years she’s been the top producer at the William Raveis office in town. She’s also the fourth top Raveis salesperson in Connecticut.

What Denise loves most about her job is the variety. “I design my day each and every morning,” she says. These days her planning is done entirely with new technology. She was one of the first to blog about real estate in New Canaan and she floods the Internet with her property listings. She uses Facebook, Twitter and LinkedIn to grow her business and stay ahead of the curve. "I'm self-taught," she says.

But the thing that has made the biggest difference to the way she runs her business is her phone. “My iPhone has changed my life dramatically,” she says. “I can use it to do anything.” Mobile technology enables her to take videos of new properties and instantly email them to clients. “They can see a new house listing at the same time as I see it,” she says. She can also give buyers and sellers instant updates on new listings and price changes, and it helps her keep an eye on the competition. The best part, she says, is that having all the information she needs in her phone means she can spend more time with clients instead of sitting at her desk in the office.

Denise is quick to point out that new technology can never take the place of real estate agents. “Nobody will buy a house from a picture on a phone or on a computer,” she says. That’s where her thorough knowledge of everything New Canaan has to offer comes into play. “New Canaan is a sophisticated town. People come here for the quality of life, for the town center, for the community and the schools,” she says. “It’s nice to go into town, to the shops, and bump into your neighbors.”

Click on the link to see the actual page in print

Just Listed and Grand Opening this Sunday May 1. 64 Butler Lane

2011-04-28T06:41:00.000-04:00

Great Opportunity.
This lovely Colonial is now on the market and will not last long. 4/5 bedrooms in perfect condition set on gorgeous landscaped grounds in private location in convenient neighborhood. Listed at $1,795,000, please stop by and say hello. I will be there from 1-3pm

VOTE TODAY ON SIDEWALKS

2011-04-27T10:49:00.000-04:00

The high school is open from 6am to 8pm for voting today. A vote NO means safer and healthier streets for New Canaan. Lets start walking again. With the price of gas over $4.25 per gallon, wouldn't it be a good idea to take to the sidewalks. Tell your friends and neighbors to get out and vote.

Contracts Pending in New Canaan

2011-04-27T10:45:00.000-04:00

The market is picking up. 5 of my listings are now under contract.
58 Lakeview Listed for $849,000
2 Oakwood Lane (Westport) Listed for $999,000
62 Shagbark Drive Listed for $1,575,000
21 Shady Knoll Listed for $1,899,000
84 Stonehenge Drive Listed for $1,995,000. Sold in one week

24 Acres of New Canaan Land Now Offered at Incredible New Price

2011-04-25T09:50:00.001-04:00

If you would like to create your own compound, this incredible offering is now available for sale at $8,900,000 featuring 24 acres of pristine woodland. Located off Huckleberry Hill Road, it is geogeous, unspoiled and private. Call me for more details or check out the website for an overview.

Happy Easter

2011-04-23T20:26:00.000-04:00

Easter is a time for hope, renewal of spirit, rekindling of faith and rejoicing in the triumph of the Lord. It is also the time to reach out to our loved ones and come together...

Enjoy your day and time with special people as we look forward to spring....

Wow! Just Reduced Today and Ready for Spring. Contemporary Perfection at 34 Wardwell Drive, New Canaan, Ct

2011-04-22T19:08:00.002-04:00

Just reduced to $2,095,000, this picture perfect residence is ready for spring. Enjoy the colorful gardens as spring unfolds. Priced to sell and ready to enjoy.

Just Listed on Luke Wood Road in New Canaan. Spectacular Custom Built Colonial

2011-04-22T13:17:00.000-04:00

Look at these pictures. This home is really gorgeous and is set on 4 acres. Priced at $2,350,000, it is one of a kind.

Town eyes natural gas to reduce heating costs

2011-04-18T06:04:00.001-04:00

What a great thing this would be for New Canaan with the Tennessee Pipeline running right through New Canaan I always wondered why we could not make use of this resource.

Town eyes natural gas to reduce heating costs

Wow. Open House in New Canaan. Gorgeous Colonial at incredible new price

2011-04-16T17:01:00.002-04:00

Just reduced to $1,875,000, this better than new Colonial has it all. With over 5000 sq ft of living space and a drop dead great room addition, the inside is stunning. In addition with spring and sumnmer coming, you can enjoy the beautifully landscaped grounds, swimming pool and spa. Stop by Sunday 4/13/2011 for a open house tour.

WOW! What a beautiful new listing in New Canaan. 84 Stonehenge Drive

2011-04-09T12:54:00.000-04:00

This 4 bedroom Colonial is just as fresh and new as can be. Completely redecorated with new paint and a fresh new look, this picture perfect home is move in. Just listed at $1,995,000, this home will not last long on the market. Call me right away to see it.

My clients just got a great New Canaan deal!!!!!

2011-03-28T17:37:00.000-04:00

96 Stoneleigh Road in New Canaan closed Friday for $2.2 million. When this bank owned foreclosed property hit the market and was listed for $2,299,000, I knew I had to move fast. I contacted my client in Florida. He came up on the next Jet Blue flight, saw the house in the morning, then we all met with his attorney and we put the written offer in. The initial offer was not accepted and other offers came in but in the end, he made the best and cleanest offer that the bank received and he got the house. In one week's time, the property closed as a cash sale with no mortgage. While there is much work to be done on the house and property, my client is very happy for having put in the effort and for paying attention to the right opportunity when it arises. If you have any special requirements or desires in terms of acquiring a specific type of property, let me know and I will be on the lookout for you.

Historic Revolutionary War Home in New Canaan going home to Harwinton, Ct

2011-03-28T06:38:00.001-04:00

Historic Revolutionary War-era structure to move north

These indoor pools in homes for sale are amazing.

2011-03-26T19:09:00.003-04:00

Ever since I can remember, I have always wished I could have an indoor pool. At these prices, I guess it is not happening, but it is fun to look at these amazing pools.

10 Tantalizing Indoor Swimming Pools

Stamford Hospital buys New Canaan properties on Grove St for 6.6 million

2011-03-26T07:56:00.000-04:00

Stamford Hospital has purchased this office building at 36 Grove St. It may become a satellite health center.

Stamford Hospital has spent more than $6.6 million to buy a pair of buildings on Grove Street in New Canaan, one of which may become a satellite location similar to its health center in Darien.

10.69 Acres now for Sale in New Canaan already subdivided into 4 building lots

2011-03-26T07:53:00.000-04:00

Approved 4 lot subdivision by the Town of New Canaan. Total of 10.69 acres divided into 4 generous building sites of 2+ acres each. Propety is being sold as one single subdivision and is not being sold as separate lots. This property is private and quiet and is beautiful buildable land. Each of the 4 lots is approved for a 6 bedroom home & pool site. This property will become the newest enclave in Silvermine. Complete engineering, septic and subdivision maps available. Ready to build immediately $3,000,000

2010 William Raveis Annual Awards. The Results Are In.

2011-03-23T08:35:00.001-04:00

Denise Gannalo

#1 Top Sales Associate William Raveis New Canaan
#4 Top Sales Associate William Raveis Connecticut
#6 Top Sales Associate William Raveis Companywide (7 States)
#1 Top Listing Sales Associate William Raveis New Canaan
#1 Top Sales Associate for Closed Units William Raveis New Canaan
Chairman's Elite Club Member

184 Lukes Wood Road, New Canaan, Ct. Country Estate on 7+acres Available for Lease at $11,500

2011-03-21T11:21:00.000-04:00

This 8000 sq ft Colonial on gorgeous private property is now available for rent. The lease term could be flexible, one or two years and the house is in perfect condition.

What a Buy! Charming Farmhouse in East Norwalk. Just Reduced and Open House this Sunday March 20 1-4pm

2011-03-15T19:00:00.000-04:00

Stop by and see this charming antique farmhouse located in convenient East Norwalk. 2/3 bedrooms, 2 updated baths, renovated kitchen, delightful front covered porch and sunny large deck for entertaining. Full basememt and beautiful property. Value priced at $385,000 Wont last long.

Market Watch: Buyer traffic and enthusiasm beginning to grow

2011-03-14T18:16:00.000-04:00

My article about the New Canaan market was published in The New Canaan Advertiser Today. Read more............

Market Watch: Buyer traffic and enthusiasm beginning to grow

New Canaan’s Closings and Pending Contracts On the Rise

2011-03-13T16:51:00.001-04:00

While the New Canaan Real Estate Market ended on a better note in 2010, I see the continuation of a conservative but somewhat upward trend as of mid march this year. . Buyer traffic is definitely up as evidenced by the amount of visitors to open houses and property showings. Sales data also supports this trend.

So far this year there have been 23 sales as compared to 20 in 2010 a 15% increase. The average price of sold homes as of March 13, 2011 is $1,877,913 up from $1,473,418 during the same period of 2010, a 27% increase and also up from $1,706,976 at the end of 2010. The median price is also up this year to $1,675,000, a 27% increase from $1,349,050 one year ago. Also supporting this positive trend is the list to sell ratio of 97% with the average days on the market of 199.

Of the homes that have sold to date this year the categories are as follows:

$3,000,000 to $3,750,000 4 sales

$2,000,000 to $3,000,000 6 sales

$1,500,000 to $2,000,000 3 sales

$1,000,000 to $1,500,000 6 sales

Under $1,000,000 4 sales

There are currently 31 pending contracts on homes about to close

$3,000,000+ 6 homes

$2,000,000+ 7 homes

$1,500,000 to $2,000,000 5 homes

$1,000,000 to $1,500,000 7 homes

Under $1,000,000 6 homes

There are only 188 homes on the market now in New Canaan right now, but that number is bound to swell as many homeowners plan to begin selling their homes in the spring market. My advice to sellers is to list you house now. March is the peak month for listings and April is the peak month for binders. If you are seeking to move in June, July or August, today is the day to start planning.

Of the 188 homes on the market at the current time, the breakdown is as follows:

Under $1,000,000 21

$1,000,000-$1,500,000 38

$1,500,000-$2,000,000 29

$2,000,000-$3,000,000 39

$3,000,000-$4,000,000 23

$4,000,000-$5,000,000 15

Over $5,000,000 23

Mortgage interest rates continue to remain at amazingly low levels; however, mortgage money is not exactly free flowing. Excellent credit scores of 750+, verifiable income, cash reserves and retirement savings are all strict criteria for obtaining loans, as well as a substantiated home appraisal. Current Rates are as follows:

30 year fixed conforming 4.875%

30 year fixed jumbo 5.375%

5/1 jumbo adjustable 4.250%

My Best Buy Pics are:

Under One Million:

144 South Avenue. 3 Bedroom Colonial built in 1900 with 3 bedrooms, 3 ½ baths and taxes of $8,699. Listed with Coldwell Banker for $815,000

$1,000,000-$2,000,000:

42 Myanos Rd. 5 Bedroom Mediterranean on 1.35 acres with pool and in-home studio. Listed with William Pitt for $1,799,000

$2,000,000-$3,000,000

96 Stoneleigh Road. 4 Bedroom Colonial with pool and tennis court on 2.9 acres and 3 finished floors. Listed with Prudential Ct Realty for $2,295,000

$3,000,000-$4,000,000

131 Thayer Pond Road. 10,000 sq ft new Colonial with finished lower level and heated pool on 2.59 acres. Listed with Halstead Properties for $3,495,000

Over $4,000,000

49 North Wilton Rd. Private Estate of 11,000 sq ft on 6 acres with pool and pool house. A pristine compound. Listed with William Raveis Real Estate for $4,500,000

Become a fan of my Facebook "LIke Page".New Canaan Real Estate with Denise Gannalo

2011-03-11T10:17:00.001-05:00

Click here to "like" my page.

Also you can follow me on Twitter at www.twitter.com/denisegannalo

JUST LISTED. NEW CANAAN'S NEWEST SUBDIVISION. WHAT AN OPPORTUNITY FOR BUILDERS, DEVELOPERS, END USERS

2011-03-09T22:47:00.001-05:00

Located at 680 Carter St, this rare opportunity comes around only once. This untouched estate is now being offered for sale and is recently approved as a 4 lot subdivision by the Town of New Canaan. Total of 10.69 acres divided into 4 generous building sites of 2+ acres each. Propety is being sold as one single subdivision and is not being sold as separate lots. This property is private and quiet and is beautiful buildable land. Each of the 4 lots is approved for a 6 bedroom home & pool site. This property will become the newest enclave in Silvermine. Complete engineering, septic and subdivision maps available. Ready to build immediately

Open Houses in New Canaan This Sunday March 13, 2011

2011-03-08T19:07:00.000-05:00

115 River Street, New Canaan

$599,000

1-3pm

62 Shagbark Drive

$1,575,000

1-4pm

123 Colonial Road

$1,999,000

1-4pm

Take a visual tour of 49 North Wilton Road, New Canaan.

2011-03-08T08:00:00.000-05:00

Click here to view this fabulous house. The details are extraordinary and the price is excellent.
$4,500,000 for this specacular estate on 6 acres with pool and pool house.

Although Slowly the Real Estate Cycle is Turning

2011-03-08T07:51:00.000-05:00

Interesting article by RisMedia. Click on the title to read more.

ONE IN A MILLION PRIVATE ESTATE IN NEW CANAAN CT

2011-03-05T08:35:00.000-05:00

OPEN HOUSE IN NEW CANAAN THIS SUNDAY. 34 WARDWELL DRIVE

2011-02-25T05:36:00.000-05:00

OPEN SUNDAY FEB 27 1-3PM

http://www.newcanaanretreat.com/

Barbara Corcoran on Today Show. "Now is the time to buy"

2011-02-24T08:43:00.000-05:00

Barbara Corcoran, real estate guri extraordinaire, appeared on the Today Show this morning. She had this advice for prospective buyers. "Now is the time to jump in. Real Estate prices are at a 9 year low and with cheap money, cheap prices, the time is now. There is no way to tell where the bottom is, it is very hard to know but the best thing to do is to buy within the low and we are rumbling around the low right now".

There, you have heard it from the horses mouth.

Open House this Sunday 62 Shagbark Drive, New Canaan, Ct

2011-02-24T08:02:00.000-05:00

Stop by this Classic Colonial on Sunday from 2-4PM. Convenient location near schools, Y and town. Versatile floor plan with 5/6 bedrooms. Reasonably priced at $1,575,000

New Canaan Home Prices Up according to Wall St Journal

2011-02-24T07:57:00.000-05:00

The Wall St Journal reports New Canaan was one of the best performers in the real estate market last year Sales were up and the fourth quarter median price rose 11%. "No one here is talking about a double dip" reports the Journal. Click on the link to read the article. http://online.wsj.com/article/SB10001424052748703775704576162724050814098.html?mod=googlenews_wsj

Connecticut Residents from New Canaan taxed on Income because they own New York State Property???????? Wow

2011-02-12T09:22:00.002-05:00

Out-of-State Owners Could Face Tax Bill

Connecticut and New Jersey residents with a Hamptons summer cottage or a Manhattan pied-a-terre are about to get a nasty surprise: New York state wants more taxes from them.

A New York court ruled last month that all income earned by a New Canaan, Conn., couple is subject to New York state taxes because they own a summer home on Long Island they used only a few times a year. They have been hit with an additional tax bill of $1.06 million.

Tax experts and real estate brokers say this ruling could boost the tax bill for thousands of business executives who own New York City apartments they use only occasionally. It could also hurt sales in the Hamptons and New York's other vacation-home communities.

"People will think twice about spending any summer time in New York," says Robert Willens, a New York-based tax consultant. "The amount of tax they could be subjected to is likely to outweigh the benefit."

A spokesman for the state Taxation Department issued a written statement that said it was "pleased" with the decision. "However, these cases are fact-intensive and as such each case stands on its own specific fact pattern," it said.

The new ruling applies only to people who spend more than 183 days in New York, which would include many out-of-state commuters to the city. For years, New York law stated that these people have to pay taxes on any income they make in this state. But they generally haven't had to pay New York taxes on income they make outside of the state or on their spouses' income if they work elsewhere.

Under the recent ruling, this might change for many out-of-state residents who own vacation homes or apartments here. In effect, it reinterprets what counts as a permanent residence.

In defining a "permanent place of abode," New York tax code specifically excludes "a mere camp or cottage, which is suitable and used only for vacations." New York tax experts say the new ruling is the first they recall that counts summer homes as permanent residences.

"This is going to open up a Pandora's box," says Eric Kramer, a tax attorney in Uniondale, N.Y. "I don't think anyone previously thought vacation homes would count as a permanent residence."

Income that now could be taxed by New York includes capital gains, dividends and securities, attorneys said. In the event of an audit, these homeowners would also be responsible for back taxes, plus interest and penalties, as a result of their New York property.

Judge Joseph Pinto, a New York administrative law judge, made the novel ruling in a 2009 case that was affirmed last month on appeal by the New York state tax appeals tribunal. Mr. Pinto seized on what is meant by a permanent residence, which is the benchmark for whether all, or just the in-state portion, of an individual's income is subject to New York state tax.

Mr. Pinto ruled that the couple's Long Island vacation home qualifies under the law as a permanent abode because it was suitable for living year-round—whether or not the couple actually stayed in the home wasn't relevant. Under the ruling, if an owner doesn't spend a single a day in a home it could still count toward a permanent residence.

The Napeague, Long Island, house was purchased by John and Laura Barker for $260,000 in 1997, according to court documents. Mr. Barker works in New York City. From 2002 to 2004, the period that was assessed for back taxes, the Barkers said they spent only a few days a year at the Long Island home, usually during the summer.

The appeals court upheld the ruling that it's not the owners' intended use of the house that matters, but whether the home could be used all year long. The court said that the house is approximately 1,122 square feet with heat, electricity, and internet service "making it very habitable and comfortable year round," according to court documents.

The court also said that Mrs. Barker's parents, who sometimes stayed at the home throughout the colder months, were evidence that it was a permanent residence even though the Barkers never used it that way.

The Barkers countered that they used the home only a few days a year, adding that the refrigerator was usually empty, court documents showed. They cited clothing not being stored there as evidence that it was a part-time residence.

"We think the decision is wrong. We are evaluating our options including a continuation of appeals," Mr. Barker said. "We imagine this decision will have a chilling effect on New Your tourism and real estate values among other second and third order effects."

Tax attorneys said they were unlikely to get the ruling overturned.

New Canaan Real Estate

Open House in New Canaan this Sunday 264 Lukes Wood Road

Voters concerned about jobs and housing

What do luxury clients look for in an agent?

Top 10 stories that shaped New Canaan in 2011

A $400 million twist: Huguette Clark, owner of New Canaan estate, signed two wills, one to her family

65 Parkers Glen, New Canaan, Ct Bank Owned Property Closed Today

Chichester Road estate in New Canaan to be featured on television series

YEAH!! SIDEWALKS COMING TO MAIN STREET NEW CANAAN THIS SPRING

OPEN HOUSE THIS SUNDAY IN NEW CANAAN OCTOBER 16 1-3PM 264 LUKES WOOD ROAD

Norwalk Waterfront Pending Contract

Palm Beach Mansion for sale

Another Bank Owned Foreclosed Home for Sale in Fairfield Connecticut

The New Iphone 4s vs Iphone 4 Comparision Chart

Bill Raveis at my office today

Norwalk Hospital to Open Facility in New Canaan - New Canaan, CT Patch

If you live in Connecticut, you will spend 54 hours per year in traffic congestion

Animal House in New Canaan, Ct as printed in the Wall St Journal

Open House in New Canaan Today, Sunday Sept 18, 2011 1-3pm

These wine cellars are awesome. I want one

New Canaan to mark 911 with service of rememberence

This article appears in The Daily New Canaan this week

New Canaan Advertiser Editorial: So many heroes

Is owning a home still the American Dream?

Inside One World Trade Center

Waterview Renovation in Milford Ct

New Canaan Taste of the Town Stroll

Chef Luis Restaurant in New Canaan

Sold and Closed in New Canaan for Over Asking. 47 Osborne Lane

New Canaan Construction Activity Picks Up

DOES YOUR HOUZZ LOOK THIS GOOD?

How Stock Volatility Affects The New Canaan Real Estate Market

The Shift in The Real Estate Industry and William Raveis Real Estate

Mobile devices are changing how businesses operate

ForSalebyOwner.com founder gives up on own listing, hires real estate broker

Inman News Votes William Raveis Real Estate The Most Innovative Real Estate Broker

3 New Canaan Closings 3 Different Scenarios

Waveny House in New Canaan is Buzzing Again.

A Nod for Sidewalks on Main Street in New Canaan

The highest property tax payers in the State of Connecticut. Guess who pays the most in taxes?

Gannalo earns top honors from Raveis for 2010

Home sellers who bought after 2007 now overprice their homes 14%

A visit to The Glass House in New Canaan

Second Quarter New Canaan Results are in

Prime Elm Street Retail available in New Canaan, Ct

Happy Fourth New Canaan

Nicholas Roberts Restaurant mentioned as One of the Top Ten Spots for The Best Burger

Gannalo earns top honors from Raveis for 2010

What an incredible waterfront home in Darien, Ct

New Canaan High School Seniors graduated yesterday

This video was shot of me featuring a "Great Room"

Stories From Main Street: New Canaan, CT

Interior design trend spotting - stencils in decor

It's always nice to receive a positive testimonial

Public Open House Sunday June 5 1-3pm 264 Lukes Wood Rd

Enjoy New Canaan's Ice Cream Social Sunday June 5

Mysterious Heiress with New Canaan mansion died Tuesday

Tis the Season for Price Reductions

A Great Overview of New Canaan Mid-Century Modern Houses

Another Listing Sold and Closed. 62 Shagbark Drive. Multiple Offers Galore

New Canaan Farmers Market opened today

OPEN HOUSES THIS WEEKEND IN NEW CANAAN SUNDAY MAY 15

New Canaan Getting New Cell Antenna

Give $11 for 911

Connecticut State Conveyance Taxes for Real Estate Increased

New Canaan #2 in US as Best School System for Learning by Great Schools.org

Osama Bin Laden is Dead.

6 Mistakes to Avoid While Selling Your Home - My Money (usnews.com)

New Canaan #2 in US as Best School System for Learning by Great Schools.org

The Daily New Canaan prints article about Denise Gannalo

Just Listed and Grand Opening this Sunday May 1. 64 Butler Lane

VOTE TODAY ON SIDEWALKS

Contracts Pending in New Canaan

24 Acres of New Canaan Land Now Offered at Incredible New Price

Happy Easter

Wow! Just Reduced Today and Ready for Spring. Contemporary Perfection at 34 Wardwell Drive, New Canaan, Ct

Just Listed on Luke Wood Road in New Canaan. Spectacular Custom Built Colonial

Town eyes natural gas to reduce heating costs

Wow. Open House in New Canaan. Gorgeous Colonial at incredible new price

WOW! What a beautiful new listing in New Canaan. 84 Stonehenge Drive