Danbury, CT Real Estate News

By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate Update March, 2009 Closed home sales in Danbury, Connecticut: Single Family Homes: There were 16 single family home sales closed in Danbury, CT. The average closed real estate sales price for single family homes in Danbury was $316,187.  The median closed real estate sales price was $282,500.On average, these homes sold for 92.7% of their most recent list price.Days on Market averaged 141 days of market time.  This compares with 21 closed sales in March, 2008, with an average closed sales price of $364,538 and a median closed sales price of $335,000. Condos:There were 19 condominium sales closed in Danbury, CT.The average closed real estate sales price for condos in Danbury was $258,434.The median closed sales price was $261,750.On average, these homes s...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate Update February, 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 $315,955.  The median closed real estate sales price was $300,000.On average, these homes sold for 93.9% of their most recent list price.Days on Market averaged 185 days of market time.  This compares with 24 closed sales in February, 2008, with an average closed sales price of $374,915 and a median closed sales price of $330,000. Condos:There were 15 condominium sales closed in Danbury, CT.The average closed real estate sales price for condos in Danbury was $250,559.The median closed sales price was $210,000.On average, these h...
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By Lani Sanethong
(Virtual Homes, Inc.)
Buying Your First Home - Danbury, Connecticut Purchasing a home for the first time can be a very stressful and complicated process.  Enlisting the services of experienced real estate related professionals will provide you with the information and advice to make sound decisions.  Buyers often interview mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisers during the process of purchasing a property. Information regarding the home buying and selling process, demographics, commuting, school and relocation information can be found by visiting DANBURY CT REAL ESTATE Financing Most home buyers will obtain a mortgage to purchase their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and nation...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Currently available (per MLS 4/20/09) Complex Units For Sale Average List Price Average Days on Market Av $ Per Square Foot Arlington Woods 6 $289,117 87 $199 Barclay Commons 3 $273,633 23 $195 Briar Woods 1 $315,000 68 $209 Kensington Woods 1 $344,900 48 $200 Lake Place 2 $396,118 19 $227 Lexington Mews & Lexington Court 7 $412,886 51 $182 Sterling Woods 5 $343,560 26 $197 Stetson Place 2 $294,900 100 $215 Westwood Village 10 $264,010 71 $159 Woodland Hills 12 $404,558 92 $160 Average Across the Board: 49 $333,868.20 58.5 $194.30  Under deposit & under contract (pending) units Complex # of units Average Price Average Days on Market Average $ Per Square Foot Arlington Woods 0       Barclay Commons 0       Briar Woods 0       Kensington Woods 2 $319,450 142 $225(Under Deposit)$197 (Under...
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By Dana Voelzke, Loan Officer/ First time home buyer specialist
(loanDepot (203) 733-9408)
It's early April and it seems we are already seeing quite a healthy uptick in activity this spring. Buyers are out attending open houses, new listings are getting more showings, and a few multiple offers on attractive, well-priced properties seem to be occurring. Statistics for the first quarter of 2009, broken down by price range, show that the number of pending sales is greater the number of sales from January through March 2009, which is what demonstrates that the spring market is pretty strong. However, the numbers also show that there is quite a bit of inventory on the market to be absorbed. What is interesting is the wide difference in inventory levels between the different price ranges. Clearly the sweet spot is between $250,000 and $350,000 in Greater Danbury, which is about how...
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By Warren Schutt, Helping People with Their Moves for over 40 Years
(Warren Schutt Real Estate)
   The American Dream for me encompasses many things - but I do remember many years ago, the opportunity of homeownership was highest on that list.   When I purchased my first home in 1976 - I was told that house prices never go down.  Then in 1982 and 1983 interest rates reached 19% - the few buyers who could purchase were generally transferees with financing subsidized by their corporation.  Prices really didn't fall too steeply - it was just that few people could afford to buy a home and it meant that very few people could sell.    Then starting in 1984, interest rates came down, the opportunity and demand for homeownership rose dramatically and so did prices. And the myth returned that house prices would only go up. The dream returned as the prices for homes rose until 1988 when the...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Pricing your home to sell is the most important factor to determine whether your home will sell or not. At the correct price, buyers can look past certain defects in your home,size, location or lot. There are several things that you need to look at when determining the price of your home: Recent sales of homes in your neighborhood or similar neighborhoods in recent months. It doesn't matter what your neighborhood got a couple of years ago, because the market is different now. Sales should go back about 6 months. The sales on the homes in your neighborhood or similar neighborhoods should be about the same size and condition of your home. There will be some adjustments made based on the size, condition, location in the neighborhood and lot compared your home. One should also look at the l...
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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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