Bank Owned Home at 184 Lukes Wood Rd in New Canaan just reduced again today by another $250,000.

This is too good to be true. Another price reduction today bring the new price to $2,350,000. This bank is determined to sell this property. I believe it is going to be New Canaan's best deal and everyone will be talking about the one that got away.

Tax Credit to First Time Homebuyers to be Extended???

Most of the information coming from Washington DC indicates that the First Time Home Buyer Credit will be extended, as noted from lobbyists in DC.

Tax Credit Extension & Expansion

There will be an important vote in the Senate this week on the housing tax credit provision. The “Dodd-Lieberman-Isakson” amendment would extend the tax credit to June 30, 2010. It would expand the credit to any homebuyer and raise the income limits to $150,000 ($300,000 for joint returns). The amount of the tax credit would remain at $8,000.

Prospects: I still believe the prospects are good for extension of the tax credit. There is real concern in the Administration about the strength of the economic recovery. Treasury Secretary Geithner was quoted in the November 2nd Business Week magazine stating: “we’re not going to make the mistake many countries made in the past of putting the brakes on too early and creating the risk of a weaker recovery with even higher levels of unemployment.” On the negative side, the stories about fraud in tax credit program (e.g. children and current homeowners receiving the tax credit) and concerns about the program cost obviously do not help.

NAR is making a major push for the expansion of the tax credit to all homebuyers. While it appears unlikely that it will be expanded beyond first-time homebuyers, NAR efforts could have a positive impact on the outcome.

BRAND NEW OFFERING. OENOKE RIDGE NEW CANAAN COMPOUND ON 4+ ACRES JUST LISTED AT $1,595,000

Remarkable but true, this incredible private oasis is just listed at $1,595,000. Set on 4.65 acres of privacy and tranquility behind a gated entrance, this fabulous 5 bedroom Center Hall Colonial has been restored and upgraded to the minute. New kitchen, baths, roof, furnace,a/c, windows, siding etc. There is nothing left to do but enjoy the beautiful free form swimming pool and spa. This property is priced to sell and wont last long.

New Canaan Opportunity. Major Price Reduction

74 Thayer Drive has just been reduced to $849,000. This spacious country home with an open floor plan is set on 2 acres in an area of luxury homes and has tremendous potential for the saavy buyer. It has expansive hilltop views and a full finished lower level. There is a town approved code compliant 6 bedroom septic system designed for future expansion or renovation.

GRAND OPENING. NEW CANAAN'S NEWEST GREEN HOUSE. LEADING THE WAY IN NEW CONSTRUCTION

274 Mariomi Road, New Canaan, Ct
GRAND OPENING THIS SUNDAY, OCTOBER 25,2009
2-4PM

Amy Gabriele and I have just listed this incredible new home.
Just finished and ready for showing, this home is ahead of its time.
With over 8,000 sq ft of living space and 6 bedrooms and 8 1/2 baths, it is heated and cooled geothermally.
Numerous energy efficient features include Hardiplank siding, Azek trim, Pella energy star windows, 100 yr slate style architectural roof.
The kitchen and all bathrooms are designed by Kitchens by Deane and the house sits magestically on 2.8 acres of high land with hilltop views.
Priced at $3,795,000.
Amy and the builders, 2G Construction, will be on hand to answer any questions.
Click on the title to view the website www.274mariominewcanaan.com

Retirees and Empty Nesters Flock to Manhattan

MARK YOUR CALENDARS. THIS REALLY IS VERY HELPFUL. HAZARDUS WASTE DAY IN NEW CANAAN IS OCTOBER 17

Great time to clean out the basement and garage. Bring your old and unwanted paints, chemicals and toxic material to the Wastewater Treatment Plant between 8:30am and 2pm on Saturday October 17.

New Canaan Real Estate Market Activity Third Quarter Summary

NEW LISTING. NEW CANAAN'S CUTTING EDGE "GREEN HOUSE" NOW FINISHED AND LISTED FOR $3,795,000. GRAND OPENING TO BE SCHEDULED SOON.

The real estate market has picked up substantially after the dismal first quarter, however, statistics show that the decline from 2008 numbers are still significantly down.

The average price of sold homes this year as of September 30 was $1,745,705, representing a 20% decline from the average sold price in 2008 of $2,180,838.

The number of sold homes is also down from 149 last year to 114 this year, representing a decline of 24%.

The average days on the market to date this year is 193 with a list to sell average of 88.9%

There are currently 257 homes on the market right now and there are 24 that are pending.

The following homes went pending in the last week

49 Parting Brook $849,000
6 Parish Rd South $1,388,000
161 Skyview Lane $1,395,000
87 South Bald Hill $2,295,000
1484 Oenoke Ridge $2,495,000
226 Buttery Rd $3,595,000
119 Clearview Lane $4,250,000

SHORT SALE OPPORTUNITY IN NEW CANAAN

Listed at $550,000, this Forest Ridge townhouse is offered far less that the last purchase price. Take advantage of this opportunity for this 3 bedroom townhouse with first floor master suite and attached 2 car garage.

ARE DISTRESSED HOMES WORTH IT?

Click on the title to read The Wall St Journals article about distressed homes. It is very well explained.

Brand New Modern Home Hits The New Canaan Market

New Canaan was abuzz on Sunday for the Grand Opening at 173 Park St, the very modern house built by Dave Prutting of Prutting and Company Builders and is listed by William Pitt. I think the attendance definately set a record for open house traffic. There was a non stop stream of people lining up in the rain to tour the latest example of trendy architecture in town. The stark lines, glass walls, dramatic baths and very cool rooftop garden with outdoor kitchen, fp, garden and pool site add to the dramatic flair. You can walk to the town and train from this 4 story home complete with an elevator and for the environmentally conscious, there is a photovotaic system. LEED certification is pending. Priced at 4,950,000, it is one of New Canaan's priciest homes, however, it is also one of a kind. Dave Prutting did an incredible job.

Index shows home prices rose for 3rd month in July - Boston.com

Index shows home prices rose for 3rd month in July - Boston.com

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