New Canaan Construction Activity Picks Up

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?

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

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

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

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

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

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

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.

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

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?

Click here to see the homes.

Gannalo earns top honors from Raveis for 2010

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