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Date Archives: March 2014

Bain Real Estate - Market Update Home

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Bulls Bridge | 4 Posts
Cornwall Bridge | 6 Posts
Cornwall Hollow | 4 Posts
Cream Hill | 5 Posts
East Cornwall | 5 Posts
East Warren | 5 Posts
Ellsworth | 5 Posts
Kent Hollow | 4 Posts
Kent Village | 4 Posts
Long Mountain | 2 Posts
Merryall | 2 Posts
Mid Cornwall | 5 Posts
Mudge Pond | 5 Posts
Route 7 South | 3 Posts
Segar Mountain | 6 Posts
Sharon Mountain | 4 Posts
Sharon Village | 4 Posts
Silver Lake | 5 Posts
Skiff Mountain | 4 Posts
South Kent | 3 Posts
Spectacle Lakes | 5 Posts
Waramaug | 4 Posts
West Cornwall | 7 Posts
West Warren | 5 Posts
Westwoods | 4 Posts
White Hollow | 4 Posts
March
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

Thank goodness Spring is almost here. It has been the longest, snowiest, coldest winter of recent memory. The good news in real estate is that interest rates remain well below 5% and calls to buy are increasing. We in Cornwall are still a buyer's market, but the less expensive listings are quickly being sold. There have been two foreclosures in Cornwall Bridge and both houses are now on the market.

 Last year we reported 6 sales in the neighborhood, this year we had 4: 2 homes, 2 lots.

  282 Town Street sold for $436,500. I had reported this house for sale in last year's letter at a list price of $475,000. It combined the charm of an 1800's farmhouse with the sophistication of 1970 architectural details. On a level 6 acres with a separate barn/garage/studio, current weekenders moved up to this property from a smaller house.

It offered more bedrooms and proximity to Cream Hill Lake. Fortunately for me, I represented both buyers and sellers.

  110 Cornwall Hollow Road sold for $390,000. David Bain had this listing known as The Sanctuary at $445,000, also reported in last year's letter, and sold it to newcomers to Cornwall. An intimate 3 bedroom hideaway with lovely landscaping and protected views, the perfect weekend escape.

 A 3 acre lot, adjacent to 43 Town Street sold privately for $92,500 to a neighbor.

  94 Town Street, a 62 acre wooded lot assessed at $637,120 was sold to the Cornwall Conservation Trust for $313,333. The many efforts of the Cornwall Conservation Trust will keep Cornwall green for generations to come. We wish them success in their efforts to purchase the 300 plus hillside acres at Trinity Conference in West Cornwall.

Currently we have 3 separate lots for sale in your neighborhood.

  20 Stone Hill Road is a 14.48 acre building lot with a 300' long driveway and 690' of frontage. It has some slope and a brook plus potential for western views. $225,000.

 

Further down on Town Street we have a 67 acre lot for $695,000. It includes a large beaver pond, some additional wetlands, woodlands and marvelous stone outcroppings. Selective tree cutting could open up views and allow for solar siting.

 

 

 

 

 

 

These 2 lots are my listings.

 

David Bain has a 5.46 acre lot listed on Hall Road for $95,000. It offers amazing views

on a quiet country road.

 

Also available in your neighborhood are 3 lovely summer rentals.

 

47 Scoville Road is a 3 bedroom, 2 bath cottage.

10 and 12 MacCracken Road are both up at Yelping Hill. #12 is one of the original Ruth Adams designed stone houses with 5 bedrooms and 2.1 baths and #10 is a modest 3 bedroom ranch with 1 bath. All are available for a season, by the month or week; please call for the rates and availabilities.

 

We look forward to welcoming your comments, referrals, questions about real estate and visits at our West Cornwall office next door to the Wandering Moose. We now number 4 agents in Cornwall and Shirley Zimmerman also has a home office in Bantam.

 

Respectfully yours,

 

 

Priscilla Pavel

 

Rick Meehan Heidi Kearns Shirley Zimmerman

REALTORS all

March
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The Sharon real estate market is continuing the momentum that began in 2013. In the last 12 months the market has seen an increase in activity and sales. There were 40 sales transactions in the last year, 5 more sales over the previous 12 months.

Nationally we are seeing an increase in sales with the Northeastern section of America gaining over 7% in house sales and a 5.5% increase in prices from last year.

Our local real estate market is more active, and getting healthier incrementally as well. Values are solidifying as we see year over year stability in the sales to list price ratio. We also see the Days On Market (ADOM) dropping by two months on average. We, at Bain had another productive year with very strong sales and we appreciate both your continued support and ongoing trust.

 

Sharon 2013-Sales

Property Type: Residential

Status: Closed/Sold

Number of Properties: 40

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Average

3

2.3

2,127

$493,125

$229.09

$444,306

$206.68

90.95%

174

Median

3

2

1,954

$374,000

$211.71

$358,250

$198.39

91.9%

114

 

Sharon 2012-Sales

Property Type: Residential

Status: Closed/Sold

Number of Properties: 35

 

 

Beds

Baths

SqFt

Listing Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Average

3

2.61

2,406

$519,880

$220.16

$473,381

$201.24

90.66%

231

Median

3

2.5

2,173

$439,000

$194.58

$405,000

$173.66

92.3%

181

 

There are presently 57 homes on the market in Sharon which is approximately the figure we had a year ago. Yet, while buyer confidence grows the pool of prospects is still historically lower. To keep the interest of the buyers, proper pricing is still critical. There are presently 7 properties in contract to sell in Sharon- one here on Sharon Mountain. You've heard it before; a well priced house gets the buyer's attention. Here is what sold!

This first property is an example of the return of the real estate market. It was sold, as reported in last year's letter for $360,000 out of foreclosure. A builder bought it, fixed it up, listed it for $650,000 and sold it for $620,000 last September. The new owner held it for a month and put it back on the market for $685,000 and it promptly sold for $655,000 in December.

Here is what has transpired in the last 12 months in your neighborhood.

429 Cornwall Bridge Rd

Price: $650,000 Sold:$620,000

Sold:Sept 2013

DOM: 29
Acres:9
Beds:3 Baths:3

Comments: Builder improved home with new appliances and bath fixtures.

 

 

429 Cornwall Bridge Rd

Price: $685,000 Sold:$655,000

DOM: 10
Sold Dec 2013
Acres:9
Beds:3 Baths:3

Comments: Newly renovated. Mint condition.

 

 

 

27 Red Horse Hill Sold at:$510,000

Price: $595,000
Sold date:August 2013

DOM: 56
Acres:14
Beds:3 Baths:2

Comments: Needs complete renovation & structural issues. Private views and greenhouse

 

 

 

Lot-Red Horse Hill Sold:$80,000

Price: $110,000
Sold date:Sept 2013

DOM: 2
Acres:3
Comments: Small wooded lot

NO PICTURE

 

Vacant Land

 

70 Bowne Road Sold at:$249,900

Price: $274,900
Sold:Sept 2013

DOM: 161
Acres:2.2
Beds:4 Baths:1.5

Comments: Private. New furnace, wood floors, 2 car garage.

 

 

 

100 Sharon Mtn Rd Sold at:$180,000

Price: $210,000
Sold:Jan 2014

DOM: 110
Acres:2
Beds:3 Baths:1
Comments: One level house of 1056 sq. ft. built in 1982

 

 

 

 

 

90 Sharon Mtn Rd Sold at:$467,500

Price: $695,000
Sold:May 2013

DOM: 450

Acres:15

Beds:2/ Baths:1
Waterfront:Yes
Comments: Antique home renovation required. Pool, pond and brook. barn & 1 bedroom cottage.

 

 

40 Sharon Mountain Sold at:$617,800

Price: Not on Market
Sold date: Dec. 2013

DOM: NA
Acres:8
Beds:5
Baths:2

NO PICTURE

Comments: 2362 sq. ft. antique colonial farmhouse with a lower than average rating from the assessor. Distant views and open and wooded parcel of land.

 

339 Cornwall Brdg. Rd Sold at:$290,000

Price: $319,000
Sold:August 2, 2013

Acres:1.74
Beds:2 Baths:1
Comments: One level 1969 house with 1400 sq. ft. open yard, views

 

 

 

 

Lot -Butter Road Sold at:$100,000

Price: $145,000
Sold date:June 2013

DOM: 264
Acres:4.92
Beds:NA
Baths:NA

NO PICTURE

Comments: Cleared wood lot with views and privacy. Long driveway access to site.

 

74 Sharon Mountain Rd Sold at:$555,000

Price: $589,500
Sold:Aug. 2013

DOM: 350
Acres:3
Beds:3 Baths:3

Comments: Country home with Swedish stoves, 2 fireplaces, pool and open floor plan & open land

 

 

16 Jackson Hill Road Sold at:$590,000

Price: $649,000
Sold date:Mar 2013
Acres:4.18
Beds:2 Baths:3

Comments: 1500 sq. ft. Contemporary home in exceptional condition. Screened porches, balcony views.

 

 

270 Cornwall Brdg. Rd Sold at:$156,000

Price: $170,000
Sold date:Dec 2013
Acres:2.80
Beds:3 Baths:2

Comments: Ranch requiring updating of kitchen/baths. Oak flooring, fireplace and storage barn.

 

All of the current Sharon listings can be seen on our website www.bainrealestate.com. I encourage you to visit it. It's loaded with information about listings, sales, our towns and these letters (see Neighborhood Stats). There is also a way there to get direct email posting of new listings as they hit the market.

And if you know anyone thinking of selling their property, we would like the opportunity to talk to them about our marketing. Thanks. I'll write again in a year to let you know what's happened.

Respectfully,

Chris Garrity

David Bain

And the Sharon office- Sam FitzGerald and David Almquist

March
1

PLEASE CLICK HERE TO SEE THE MAP.

 Dear Neighbor,
 
This is our 11th annual letter telling you what's happened around the lake. We hope you have found them interesting and helpful. If you would like to review the history of the past letters and maps they are on our web site under "Neighborhood Stats."

This past year there was a lot of positive activity around the lake. There were 10 house sales averaging $2,181,000 as compared to last year's average of $1,836,000 and the previous year's average of $1,544,000. Things are definitely looking up on the lake!!

Starting on the west side, here's what's sold in the last year on the lake:

74 Lake Waramaug Road in Kent is a 2381 square foot 3 bedroom 3 bath contemporary colonial built in 1993 on 6.54 acres. Set far back from the road, it also has a pool and almost 900' of waterfront across the road. It was first listed for $2,495,000 in 2012 and sold in July for $1,775,000, down from its last list price of $2,100,000.  
35 Arrowpoint is a 2318 square foot contemporary with 3 bedrooms and 2 baths built in 1993 on 1.16 acres with direct waterfront. It came on the market in April of 2012 for $1,995,000 and finally sold this September for $1,375,000, at its last list price of $1,375,000.  
41 Arrowpoint is a 6200 square foot colonial built in 1997 on 2 acres with 4 bedrooms and 4 baths. It is arguably one of the best houses on the lake with a long lake front, fabulous long lake views, gardens, terraces and gorgeous dock. It sold in 67 days last August for $5,600,000, down from its list price of $6,760,000.  

117 North Shore Road is a 2142 square foot colonial built in 1960 on 1.28 acres. It has 4 bedrooms and 2 baths and 170' of lake front across the road. Originally listed for $2,400,000 in May of 2008, Eve Iselin of my Kent office sold it this past September for $1,485,000, down from its last list price of $1,595,000.

 
   
35 Bliss Road is a 4092 square foot architect designed barn style home built in 1977 on 15.11 acres with 4 bedrooms, 6.5 baths and pool with spectacular lake views. Originally listed for $4,200,000 in September of 2008, it sold last October for $3,200,000, down from its last list price of $3,500,000.  
   
365 Lake Road is a 2117 square foot cottage with 4 bedrooms and 2 baths originally built in 1905 on 3.08 acres, some of which is across Rt. 45 and mostly wet but with direct lake front. The home was first listed in December of 2011 for $1,395,000 it sold in July for $800,000, down from its last list price of $1,285,000.  
387 Lake Road, known as The Boulders Inn, is a 16,171 sq. ft. Inn with 20 bedrooms and 20 baths built on 5.8 acres. It included a number of out buildings and 500' of lake front and abutted land trust holdings. It was first listed in May of 2012 for $6,000,000 and sold for $4,000,000 in November.  

19 Tinker Hill Road is a 2.34 acre building lot with a view of the lake and a 10' easement to the water that was originally listed for $249,900 in January of 2012, dropped to $169,000 in August and sold for $105,000 in September.  

27 West Shore Road is a 2000 sq. ft. cottage with 3 bedrooms and 3 baths built on .4 of an acre. It had a guest house, concrete dock and good parking. It was first listed in September of 2011 for $850,000 and sold for $520,000 in September, down from its last list price of $575,000.  
44 West Shore Road is just a dock on .01 acres that gives lake access. It was listed for $50,000 in April and sold immediately  
139 West Shore Road is a 2281 sq. ft. colonial with 3 bedrooms and 3 baths built on .78 of an acre with a sweeping lawn down to the road and a boat house and dock on the other side of the road. It was listed in April of 2013 for $2,100,000 and sold in June for $2,530,000!
 
255 West Shore Road is a 1344 sq. ft. cape with 4 bedrooms and 1 bath built on .89 of an acre with a dock on the other side of the road. It was listed in June of 2013 for $650,000 and closed in September for $525,000.
 

 

If you or your friends need any real estate help, please keep us in mind. You can find all the properties for sale on our website, www.bainrealestate.com. You can also receive this letter and other neighborhood real estate information by leaving your email address there or sending it to me at db@bainrealestate.com. Have a great spring/summer. I will write again next year.

 

Sincerely,

 David Bain

 Chris Garrity

And the Kent office-Toni Soule, Marilyn DeVos, Eve Iselin and Scott Harvey

Please note that not all listings and sales transactions are through David Bain Real Estate.