274 Mariomi Rd. Priced at $3,795,000. Open House Sunday 3/14 2-4pm
A serious and factual look into the housing market and homes for sale in New Canaan, Ct by Denise Gannalo,an experienced, trusted and knowledgable professional and Top Producer of William Raveis Real Estate for 15 years. WWW.NEWCANAANHOMES.BLOGSPOT.COM
Friday, March 12, 2010
The mysterious Clark Estate in New Canaan Ct
Le Beau Chateau on 52 Acres for Sale in New Canaan, Ct
Thursday, March 11, 2010
Tuesday, March 9, 2010
Serene Riverfront Listing in New Canaan. What an incredible price of $1,395,000
Sunday, March 7, 2010
JUST LISTED IN NEW CANAAN. A WATERFRONT PARADISE ON THE RIPPOWAM RIVER
Friday, March 5, 2010
Monday, March 1, 2010
Sunday, February 28, 2010
New Canaan, How is the real estate market doing so far this year?
Mead Park February 27, 2010, the morning after the snowstorm
The answer is much better. While the average selling price of single family homes in New Canaan has decreased over 20% in the last year, the activity in the market has certainly been on an ascent since the summer of 2009.
While on the surface, these statistics do not look impressive, compared to the same period last year (2009) there were only 2 closings at $1,070,000 and $1,150,000.
Condos are also on a similar rise. While there was only one sale during this time period in 2009, there have already been 5 condominium closings with an average price of $500,000.
Even more encouraging is the trend of land sales which have virtually come to a standstill over 2009 because of the reluctance of builders to purchase more land to start building new homes. Their reluctance was also due to the fact that they also had unsold inventory which needed to be moved before they could have the funding to start anything new. The credit crisis and the timidness of buyers certainly did depress the new home sales. However, builders are starting to put their toe into the market again slowly. So far this year, there have already been land sales. 92 Parish Rd listed at $1,150,000 is pending, 585 Canoe Hill Rd has closed at $1,450,000 and 388 Weed Street had closed at $1,300,000. In addition, a builder has purchased my listing at 74 Thayer Drive for $735,000 and is planning to build a new home or a major renovation and another builder has purchased 216 Carter Street for $1,800,000. I believe he plans to knock down the existing home, subdivide the 5.5 acre property and build new. I also have another builder who is in the process of purchasing a home that is a short sale and will also be developing that property.
I believe we will continue to see sales closing along these levels with an increase in sales volume somewhat in the summer as June, July and August are the peak closing months. It is doubtful there will be an increase in prices but I also doubt a serious decline in price either. With mortgage interest levels still at record lows, we should be able to trade properties with consistency which is more important to a return to a real estate market in balance.
Good Article. Crawling Out of the Housing Market. Realtors agree Housing Market is Stabilizing but Still Troubled
RISMEDIA, February 27, 2010—(MCT)—The good news is, it’s a buyers’ market. The bad news is, it’s a buyers’ market. From the rubble of the housing collapse has arisen a seemingly endless supply of houses from which to choose. Good news if you’re buyer. Challenging news if you’re a seller. Mixed news if you’re a Realtor.
The extension of the home buyers’ credit is expected to spur an increase in sales during the first quarter of 2010, normally the slowest quarter of the year, said Gary Walter, executive vice president of the Southwestern Michigan Association of Realtors Inc.
With competitive prices, low interest rates and a huge tax credit on their side, buyers are jumping off the fence. And if you’ve got a house to sell, there are things you can do to make sure they land on your side, Realtors say.
“If you’re looking around your house and you ask yourself: ‘Should I paint this room?’ you probably should,” said Ryan Arnt, associate president of Meredith and Kamp Realtors of Stevensville.
Another piece of advice from area Realtors—be reasonable about the price. And be flexible. “If you’re going to list your house, it’s going to disrupt your lifestyle pattern for awhile. You’ll need to be willing to show at a moment’s notice, be as agreeable and as flexible as possible, and put a little effort into it. The return will be worth it,” said Sharon Halliburton, broker associate with American Homes of Stevensville. She and other area Realtors say the worst is over. “I’m extremely optimistic. We’ve turned a corner,” Halliburton said.
National picture
After a surge last year from September through November, the original deadline for a $8,000 tax credit, existing home sales nationally fell in December 2009. But prices rose from December 2008 and sales overall improved in 2009, according to the National Association of Realtors.
For all of 2009, there were 5.1 million existing home sales, 4.9% higher than the 4.9 million transactions recorded in 2008, the first annual sales gain since 2005.
Economists say the market is going through swings driven by the tax credit. The extension of the tax credit is expected to spur an increase in sales during the first quarter of 2010, normally the slowest quarter of the year. The extension gives buyers until April 30 to buy and until June 30 to close. The credit, up to $8,000, originally was for first-time buyers only, but has been extended to include homeowners who have lived in their home for five of the last 8 years. These people get up to $6,500. Extension of the tax credit adds more potential buyers to the market.
By early summer, the market should benefit from a more balanced inventory, leading to an overall rise in sales in 2010, economists say.
Jobs, jobs, jobs
But a lot could depend on the job market. Realtors say job creation is the key to a continued recovery in the housing market.
National figures for January showed an inventory of 3.29 million existing homes, 11.1% below a year ago and 28.2% below the record of 4.58 million in July 2008. Nationally, the median home price in December 2009 was $178,300, 1.5% higher than in December 2008. Economists said that was due to an increased number of mid- to upper-priced houses in the mix.
To sell your house, she said, it’s got to look better than everybody else’s on the block. “Work on curb appeal outside. Inside, de-clutter, clean, paint, all the things you’ve been meaning to clean anyway- take a third of the stuff out of every room.”
Atilla recommends “staging” a house before putting it on the market. “You get somebody with a good eye and you can cost-effectively make the home as good as it can be. Paint, rearrange furniture, add color accents, put towels in the bathroom. If you need a new roof or furnace, be honest about that in your price.”
Tuesday, February 23, 2010
What a great buy. This New Canaan home reduced today to $1,465,000
Sunday, February 21, 2010
New Canaan Real Estate Activity Feb 14, 2010 through Feb 21, 2010
Pending Contracts
3 Meeting Grove Place $1,095,000
55 Running Brook Rd $1,985,000
82 Arrowhead Lane $2,395,000
New Listings
179 Ponus Ridge $899,999
1134 Weed St $1,625,000
152 Weed St $1,650,000
and 2 more that are noteworthy in respect to being unique with some interesting features.
174 Fox Run just listed at $1,595,000 by Brotherhood and Higley Real Estate was built in 1969 and has 3920 sq ft and 4 bedrooms. It is located on 2 acres overlooking a pond.
11 Whitney Ave is listed at $1,275,000 by William Raveis Real Estate and is located on .18 acres right in the heart of town. It is a converted barn built in 1889 with 4 bedrooms and some rental apartment space.
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.
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