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Danbury, CT Real Estate News

By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Danbury, CT is a very interesting place when it comes to real estate. In the past, I have had clients request to only tour homes serviced with public water and public sewer.  Even with their fairly good sized budget, it severally limited the number of homes available that we could look at. They also told me which parts of town they would like or not want to be as well.Generally speaking, please consider the following:-All townhome/condos in Danbury are required to be serviced by public water & sewer.-Almost all properties in city center will be serviced by public water & sewer.-Almost all homes up by Richter Golf Course will be serviced by private septic & well.-Almost all homes over by Candlewood Lake will be serviced by private septic & well. There are some communities which have priv...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate Update April, 2009 Closed home sales in Danbury, Connecticut: Single Family Homes: There were 24 single family home sales closed in Danbury, CT. The median closed real estate sales price for single family homes in Danbury was $341,500.  On average, these homes sold for 94.3% of their most recent list price.Days on Market averaged 204 days of market time.  This compares with 29 closed sales in April, 2008, with a median closed sales price of $320,000. Condos:There were 17 condominium sales closed in Danbury, CT.The median closed sales price was $242,000.On average, these homes sold for 94.8% of their most recent list price.This compares with 23 closed sales in April, 2008, with a median closed sales price of $270,000. Currently available homes for sale in...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
Birchwood Condos, Danbury CT27 Crow's Nest Lane, Danbury CT 06810Welcome to Birchwood Condos in Danbury,CT. Set in a commuter friendly location, this community of 221 units is a wonderful place to call home. Built between 1985-1989, Birchwood offers spacious units at an affordable price. Treat yourself to the good life with the 2 swimming pools, 3 tennis courts, clubhouse, playground& acres of woods with walking trails.Units in Birchwood offer a lot to perspective buyers. The community offers a variety of ranch & townhome units configured for today's lifestyle. Units feature central air, a fireplace in the living room, huge bedrooms & loads of closet and storage space. Units sizes can range from about 1200 square feet to 1800 square feet. View more information here.  Enjoy the beautiful...
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By Ray Poppe CT,Danbury,Brookfield,Ridgefield,Newtown,New Milford,Bethel, Coldwell Banker International Presidents Circle
(Coldwell Banker Residential Brokerage)
I'm presently working with a number of real estate investors looking to start their portfolio of properties.  Many of them are new to this investment.  Since I've been there and done that when it comes to Investment Properties such as Multi Family Homes I have come up with a formula that lets me decide if a property is worthwhile investigating further.  I recently passed this formula onto my clients and thought it might be of help to others out there looking to get into this. I start by looking at the total monthly income.  Multiply this total by 12 which will give me the yearly rental income.  I then use a multiplying factor of 7X - 10X this yearly rental income.  The product of this equation would be the expected Sales Price of the property.  When using the 10X multiplier I would cons...
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By Lisa Brown-McDonald CT Real Estate Agent, Fairfield & Litchfield County REALTOR®
(The Brokerage of New England)
  April 2009 Closed in 45 days 3 bedroom, 1.5 baths Colonial Built in 1974 Spacious 1900+ sq.ft. Numerous updates throughout Nestled in Miry Brook Estates Ward Drive - Danbury, Connecticut      May 2009 Closed in 45 days 2 bedroom, 3.5 baths Townhome Built in 1999 Spacious 1900+ sq.ft. Numerous updates throughout Situated in desirable Sterling Woods Community Pinnacle Way - Danbury, Connecticut     May 2009 Closed in 4 months 2 bedroom, 1.5 baths Townhome Built in 1996 Spacious 1500+ sq.ft. Numerous updates throughout Conveniently located near Train The Enclave Main Street - Danbury, Connecticut      May 2009 Rented within 60 days 2 bedroom, 3.5 baths Townhome with Main Level Entry Built in 2004 Spacious 1800+ sq.ft. Amenities: Pool, Clubhouse, Exercise Room Situated in desirable Arlin...
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By Jonathan Hall, Realtor - Danbury,CT Area Real Estate~203-417-0523
(William Pitt Sotheby's International Realty)
The upper end of the real estate market in the Greater Danbury has been showings signs of life. In the last month (from April 15-May 15, 2009), 25 listings over $600,000 has taken deposits. 12 of the properties have been in Ridgefield,CT, 3 in both Newtown & Redding, 2 in both Danbury & Brookfield. New Fairfield and New Milford did not see any high end listings take deposit in this time. Two of the homes are located on Candlewood Lake & 1 is located in Lake Lillinoanah. An additional 24 listings have signed contracts on now, durning since same time period. Again, a majority of the pending homes are in Ridgefield (13), because it is the most expensive town in the area (Danbury, Brookfield, Newtown, Ridgefield, Redding, Bridgewater, New Fairfield, New Milford).  Three of the listings are ...
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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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