Danbury, CT Real Estate News

By Peter Testa, PETER TESTA
(Nationwide Homes)
Peter Testa | Nationwide Homes | (203) 442-3873 32 Wondy Way, Danbury, CT SOLD - March 24, 2009 2BR/1BA Single Family House offered at $235,000 Year Built Unspecified Sq Footage 950 Bedrooms 2 Bathrooms 1 full, 0 partial Floors Unspecified Parking Unspecified Lot Size .91 acres HOA/Maint $0 per month DESCRIPTION JUST SOLD! Well-appointed 2 Bedroom with Year Round Views of Candlewood Lake. An open floor plan compliments the wall of windows that provide a stunning panoramic view of Candlewood Lake, year round. The Custom Handcrafted Cherry Mahogany Kitchen features a Breakfast Bar & is the perfect setting for creating your culinary masterpieces. Beautifully finished Knotty-Pine Hardwood for Flooring. Remodeled Bath promises relaxation & pampering with it's jacuzzi jet-tub. Custom Cabinet...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
In addition to seeing if buyers are approved for financing, they want to make sure your condominium or townhome community is in good standing. There is a big form that they want completed by the property management company. The information that banks want include: Are all of the common elements and/or amenties complete? Is the project subject to additional phases? Is the project a conversion of a previous building? When was the community turned over to the HOA from the builder? Number of total units & # of units rented out Does any person or entity own more than 1? # of units delinquent by 30 days? Any special assessments for the community, involvement in litigation, or any adverse environmental things affecting the project or certain units? Amount of money in reserves, income budgeted ...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Moving Up In a Down Market If you bought your home several years ago and decide that you want to move, this is a good opportunity to make a move up. You might not get as much money for your current home, but you will make it up on the buying end. Example: Your home was once with $350,000 $350,000 (peak price) -52,500 ( down 15 % from peak) $297,500 (current price) The home that you wanted to move up to was listed at $750,000 $750,000 -112,500 (down 15% from peak) $637,500 (current price) $112,500 savings on the purchase of their new $52,500 loss of their old home $60,000 GAINED! You can afford to sell move up in the correct market if you price home accordingly to recent years!  
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Newer condos & townhomes in the Danbury area go in all shapes, sizes and layouts. The advantage of this is that you can find a community that you feel the most comfortable in, location, amenties as well as having the space set up in a way that best suites your lifestyle.  The most common layout set up is a tri level. The advantage of having three different levels of space (living area level, bedroom level, and basement) is that you can divide the space and minimize noise from public areas to sleeping areas.  Three level townhomes are available at Woodland Hills, Sterling Woods, Kensington Woods, Stetson Place, Arlington Woods, Lake Place and others The second most popular set up for townhomes in the Danbury area having 4 levels of space. The extra level is created by either having a lof...
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By Nestor Realtor, www.HomesByNestor.com
(Coldwell Banker Residential Brokerage)
We continue to see an increasing activity in terms of number of new listings, new prices and customers who have been renting who are exploring their new possibilities in the current market. Although we live times of uncertainty, moving from being a tenant to own one's new home continues to be one of the immediate goals for many new families, and with more adjusted prices plus the lowest interest rates offered in many years, buyers are starting to taking real advantage of the current market. As you can see in the tables below, the total of homes (single family properties) whose sales closed during the first two months of the year have declined to 36 from 47 units during the same period of time in 2008. The Median Price came down from $342,500 to $314,875 or a 8.1%. In average, the number...
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By Matt Listro, Your Credit Repair Expert
(National Credit Fixers - Matt Listro)
There is a new proposal on capital hill put forth by the Obama Administration call the Home Affordable Modification Program.  It aims to helping 9 million struggling borrowers.  The program is aimed at helping owner occupied single family and multifamily (up to 4 unit) homeowners who bought prior to Jan. 1, 2009.  Here is how: First here is the compensation plan to the banks and loan servicers: Loan servicers will get: 1) $1,000 for each loan modification done 2) $1,000 per year per loan mod that stays in the program - for up to 3 years 3) $500 upfront bonus if the loan is not currently delinquent but can document that the borrower is in "imminent" danger of being foreclosed. Loan lenders will get: 1) $1,500 one time bonus payment for any modification made while a borrower is still curr...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
 Renting is not a great plan if you are staying in the same area for more than 3 years.The average rent in Danbuyr is around $1500 a month. Assuming a 5% increase in rent per year, you would be out a considerable amount of money: Year         Monthly Rent         Annual Rent 1                 $1500                    $18000 2                 $1575                    $18900 3                 $1654                    $19848 4                 $1737                    $20844 5                 $1824                    $21888 Total Rent Paid for 5 years:$99,480 The numbers even become more shocking if you are paying even more in rent. Year         Monthly Rent         Annual Rent 1                 $1800                    $21600 2                 $1890                   $22680 3              ...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate Update January, 2009 Closed home sales in Danbury, Connecticut: Single Family Homes: There were 19 single family home sales closed in Danbury, CT. The average closed real estate sales price for single family homes in Danbury was $391,981.  The median closed real estate sales price was $317,000.On average, these homes sold for 94.3% of their most recent list price.Days on Market averaged 202 days of market time.  This compares with 27 closed sales in January, 2008, with an average closed sales price of $394,654 and a median closed sales price of $342,500. Condos:There were 12 condominium sales closed in Danbury, CT.The average closed real estate sales price for condos in Danbury was $197,035.The median closed sales price was $194,500.On average, these hom...
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By Dana Voelzke, Loan Officer/ First time home buyer specialist
(loanDepot (203) 733-9408)
Just sold Cute 4BR cape with 1 car garage and nice level back yard. The sale price was $210,000 including a seller's concession for closing costs. Click the link below for details:http://CMLS.fnismls.com/publink/default.aspx?GUID=bdf8d338-6939-4e7e-b768-e0e061901138&Report=Yes  
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
There are many reasons units always seem to sell over at Westwood Village on the west side of Danbury.  The community is composed of spacious well designed 1, 2 and 3 bedroom units. A proactive condo board & professional management company keeps the community well maintained. Great amenities including two pools, dog park and playground. Prime location minutes to I-84, I-684, train stations and New York state. Because of the community is set high upon a steep hill, some of the units do offer great views of the surrounding hillside and nearby lakes. Westwood Village is close to shopping, services and fine dining along Mill Plain Rd. Learn more about Westwood Village in Danbury,CT on my website. You can always contact me at 203-417-0523 or send me an information with your real estate quest...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
According to the Danbury Newstimes today (2/17/09), Old Ridgebury Road is going widened from two to four lanes from Larson Drive up the four way stop light intersection with Briar Ridge Road & Benson Road. The city just put the work up to bid until the middle of March. Residents living and working in the Ridgebury neighborhood will benefit tremendouslyy, because the road is very busy in the morning heading up the hill to the various office buildings & campus for Boehringer Ingelheim and going back toward the highway at night. It is nice to see the city invest in some infrastructure since they did allow for a lot of devolpment to occur in recent years including the Kensington Woods & Briar Woods townhome communities, Ridgebury Hills, the Willow Grove at Danbury apartments, as well as the...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
It is very important to work with a local agent with both purchasing or selling real estate.  Not having the right agent can cost you lots of money, time and stress. Working with a LOCAL real estate agent will help you because they: Buying: Have seen in person other homes similar to the one you want to make yours to help give you a fair market value on your offer. Have relationships with local service providers to help you once you move in (plumbers,contractors,etc). Will point out things that will effect your resale ability other than material issues with any home(new development going in behind you, proposed cell phone towers, road to be widened, big stores going in nearby,possible assessments,etc). Network with other agents so you might get any leads on properties before they hit the...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Here are my seven good reasons why it's great to be a first time buyer in the Greater Danbury Market? You don't have to worry about having to sell your current home in order to buy. You can still get a mortgage with a low interest rate if you have money to invest as your down payment, a steady job and a good credit score. Affordablity of move in condition properties and as well several opportunities to improve 'fixer-uppers'. You have time to think about your decision. With the tax benefits and low interest rates, your mortgage payments might been just slightly higher than what you are paying each month for rent and getting nothing in return. There is a larger selection of homes to choose from. Home sellers might be more negoiatable on the price than in years past. The average price of ...
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By Blessey Foley Team Lucy Blessey and Mary Foley
(William Pitt Sotheby's International Realty)
Will be hiring a bus to tour foreclosures in our area of Fairafield County.(Danbury, Brookfield, Bethel, New Fairfield, etc.)  As of today I eard the interest rate is 4 1/2%.  Could that be true?  The foreclosures seem to be in the 150,000 to 300,000 price range.  Since they announced a $7,500 payment for first time homebuyers, it should be a stimulus to purchase.  I will be waiting.... 
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Many of the first time buyers that I am working with in Danbury are looking for condos. They choose to look at condos because they don't have to worry about maintaining the exterior, typically get more square feet compared to similarly priced single family homes, and get to enjoy community amenities. With a larger supply of units available (currently 126 units under $275,000 per CMLS 3/6/09), there are plenty of units to choose from, so you can be picky on the complex, location in the complex and on the condition of units. In addition to the large supply, historically low interest rates as well as homebuyer tax credit, I would find it hard to resist looking for your first home if you have a stable job & having some funds to put as your down payment. There are many great buys in some of ...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Danbury CT Real Estate Located just 80 minutes from New York City, Danbury is a small city which has a population close to 80,000 residents. The attraction of living in Danbury includes world class shopping, ample recreational opportunities including Richter Park, Candlewood Lake & Tarrywille Park, as well as easy access to many metropolitan and major employment centers. There is a wide variety of real estate options ranging from properties on or in communities along Candlewood Lake, luxury condos & townhomes, starter homes, new construction as well as investment opportunities.With home prices averaging 30% lower than lower Fairfield County & affordable property taxes, it is no surprise that Danbury is one of one of the fastest growing cities in the state. Search for real estate in Danb...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Often, I get calls from people saying they went into ‘xyz community' located here, and they want to know more information about it & wonder what it is for sale. To there surprise, there are several units for sale in some of the luxury townhome communities at any given time in Danbury, such as Woodland Hills, Kensington Woods and Arlington Woods. All condo & townhouse communities have restrictions written in to the homeowner's association rules saying what they can and can't do with the exterior. One of those things is about ‘for sale' signs. Almost all of the townhome and condo communities do not allow them because they don't want those units to stand out from the others. Also, they don't want people driving around in the communities without a reason to be there (visiting friends or loo...
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By Lani Sanethong
(Virtual Homes, Inc.)
Danbury CT Foreclosures and Bank Owned Listing Alerts Register to receive Danbury, Connecticut real estate foreclosures (bank-owned) listings. One of our Virtual Homes real estate professionals will contact you and provide: *  A list of existing real estate foreclosure (bank-owned) listings in Danbury, Connecticut *  Email alerts of NEW foreclosure (bank-owned) in the MLS. *  Address and mapping information. Register now to start receiving daily or real-time Danbury, CT foreclosure and bank-owned (REO - real estate owned) listings.  These listings allow the buyer to visit, preview and inspect the property prior to the purchase.  Since the sellers are motivated to sell, foreclosed homes may be the best values in the market.  It is important to know when property is new to the market so  ...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate Update December, 2008 Closed home sales in Danbury, Connecticut: Single Family Homes:There were 23 single family home sales closed in Danbury, CT.The average closed real estate sales price for single family homes in Danbury was $317,239.  The median closed real estate sales price was $310,000.On average, these homes sold for 93.5% of their most recent list price.Days on Market averaged 216 days of market time.  This compares with 31 closed sales in December, 2007, with an average closed sales price of $392,391 and a median closed sales price of $325,000. Condos:There were 17 condominium sales closed in Danbury, CT.The average closed real estate sales price for condos in Danbury was $239,561.The median closed sales price was $225,000.On average, these hom...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
A few months ago, my Multiple Listing Service (MLS) has offered a free tool for home buying and selling. It is called listingbook. You need to ask your agent to set you up an account on it. Unlike most other real estate website, data is pulled directly from the Multiple Listing Service's computer every 15 minute. This is important because I have seen other sites where the listing price is inaccurate and even status is not correct (doesn't mention if listings are under deposit, pending or even off the market). The cool thing about listing book is that you see a lot of information .You can see a lot of information which is important to your home purchase, such as: Address Complex or Area Name All of the pictures uploaded for the home on the MLS Room Dimensions Heating Days on the Market T...
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