OPEN HOUSES THIS WEEKEND IN NEW CANAAN SUNDAY MARCH 8

687 Carter Street 1-4PM
Just reduced to $2,199,000, this home is an amazing value
www.687carterstreet.com


60 Parting Brook 1-3PM
Lovely 4 Bedroom on 2 acres. Cul de sac location. Priced to sell at $985,000
www.60partingbrook.com


187 Lukes Wood Rd 1-4PM
Bank Owned Property. Bank says Sell Now Asking Price $2,900,000 Submit Offers
www.newcanaancountryestate.com

Seller will finance this house. No Bank Needed.New Price just reduced to $1,499,000

The owner is offering to hold the mortgage on this home. 90% financing, 6% interest only. 4 year balloon. No bank, no fees, no points, no red tape, no holdups. Motivated owner is offering this deal to saavy buyer in turn key transaction.
The house is exciting, meticulously maintained, up to date with newer kitchen and brand new master bath, resort like pool and spa and 2+ private acres. If you know of someone who would like to take advantage of this opportunity, let me know.
PUBLIC OPEN HOUSE SUNDAY MARCH 22, 2009
Click on the title above to view the website www.2sleepyhollow.com

When Will the Recession Be Over?

I walked into Garelick and Herbs the other day and a woman came up to me who had recognized me from my ads. We do not know each other but she asked me "Are we at the bottom yet?" I wish I could have answered her. As I thought about the question for several days, I read The Sunday Opinion page in yesterday's New York Times where 11 experts were asked the question " When will the recession be over"
I thought that the answer that James Grant gave was as good as any other as he relayed a story of a broker responding to a pestering client during the 1974 recession. The broker responded "When you stop asking". He concluded by saying "Today's low prices, painful though they may be, are the market's own shovel-ready stimulus. Before you know it, the stock market, and the residential real estate market, too, will be on their way back up again - just don't ask when."
Click on the title above to read what the experts have to say about it.

OPEN HOUSES THIS WEEKEND SUNDAY MARCH 1, 2009

236 South Bald Hill
$3,490,000 Just Reduced
1-3PM
Magnificent New Stone Colonial on 2 perfect acres
www.newcanaanexceptionalproperty.com


36 Hoyt St
$899,900 Just Reduced
1-4PM

Charming In town Antique just steps from town
www.36hoytstreet.com

2 Sleepy Hollow Rd. Creative Seller Offering 90% Financing

This motivated seller is offering to finance the mortgage on this exceptional property up to 90%. No points, no fees, no charges, no red tape and no holdups. The price of this exciting contemporary has just been reduced to $1,499,000 and this offer is unbelievable. 6% financing, interest only, 4 year balloon payment. This offer will make some lucky buyer's dream become a reality. Click on the title above for more details.

WWW.NEWCANAANLISTINGBOOK.COM An invitation to you to search the MLS like an agent

I have access to a new service to help track the real estate marketplace.
If you are a seller you can track the real estate marketplace
If you are buyer you can search for any listing that meets your needs
If you are just curious you can stay on top of the market.

Visit
http://www.newcanaan.listingbook.com and check it out or click on the title above.

5 SMARTEST HOME FIXES

Barbara Corcoran had some great advice on the Today Show this morning regarding some small things to do to your home to help you sell it in today's market. She likens it to finding a date (no sexism intended) but she says if there are 500 men out there and only 50 women, you really have to dress yourself up to make you stand out.

The five quick fixes are:
Fix up the Front Yard
Change your Main Entrance
Install New Windows
Move the Laundry Upstairs
Put in a Stainless Steel Refrigerator

Click on the title to view the video.

Greenwich Times Reports Silvermine Tavern to Close Today

It was last on the market for 4.5 million, however, the asking price today is not disclosed.

OPEN HOUSES THIS WEEKEND SUNDAY, FEBRUARY 22, 2009

73 Seminary St $739,000 1-3PM. 3 Bedroom Townhouse in Mint Condition near town
www.newcanaancondo.com


383 Greenley Road $2,395,000 1-3PM. 6,000 sq ft Colonial in prime location
www.383greenleyroad.com


687 Carter Street 1-4PM $2,395,000Renovated 5 Bed Colonial with pool and Sport Court
www.687carterstreet.com


184 Lukes Wood Road $2,900,000 8,000 sq ft Bank Owned Home Ready for Quick Sale
www.newcanaancountryestate.com

More on the Stimulus Plan

This article in the Wall St Journal today spells out the some of the details of Obama's plan being unveiled today in trying to break the cycle of foreclosures and falling home prices. Key to this plan is a government subsidy to help banks modify troubled loans. Click on the title to read the story.

First Time Home Buyers Tax Credit...The Details

In order to understand the benefits more clearly, I'm posting a chart, compliments of the National Association of REALTORS®. As you probably have heard, both the House and Senate have passed the Stimulus Bill and the President signed it today. This one offers a non-payback plan. That is non-payback as long as the borrower owns the home for over 3 years. The good news for first-time home buyers who have purchased in 2009, this bill is retroactive.

In addition to the Stimulus Bill, the President is scheduled to announce the Administration’s comprehensive housing recovery program tomorrow. I will be in touch with more details about this announcement as it is released. It will focus on foreclosure relief and the modification of existing loans (delinquent and possibly current).

New Canaan Real Estate Activity February 1, 2009 through February 15, 2009 (Residential Only)

New Listings 20

Price Changes 27

Contracts Pending 6

Total Homes on Market 237

By Category
Under 1 million 38
1 to 1.5 million 38
1.5 to 2 million 28
2 to 2.5 million 21
2.5 to 3 million 21
2.5 to 3 million 28
3 to 4 million 29
4 to 5 million 13
Over 5 million 31

While there are no closed sales to report, there is an increase in the number of pending contracts. Activity at open houses is very brisk as many buyers are coming out to check out the current inventory to see what is new and stay current with the market. The number of homes for sale under one million represents a much larger selection that we have seen in a very long time. For first time buyers, this may be a window of opportunity to purchase a solid home in New Canaan and still be eligible for the federal tax credit of $8000 which does not have to be repaid.