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Date Archives: May 2014

Bain Real Estate - Market Update Home

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Bulls Bridge | 4 Posts
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May
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Well, Memorial Day is upon us again and I hope your summer plans are in place. It's been a long hard winter and we deserve these spring luscious days! The market is improving as well with prices firming up and more traffic coming in through our doors!

The activity in your neighborhood this past year (May to May) has been slower than last year (4 sales as opposed to 10), but I think this maybe the calm before the storm and predict a robust summer and fall.

Let's take a look at what happened.

Starting up at 32 Bridle Road, a 2170 square foot colonial with 4 bedrooms and 2.5 baths built in 1982 on .92 acres sold quickly in 58 days in June for $224,175, down from its list price of $245,000. This property sold earlier in May of 2005 (before the '08 crash) for $360,000. a 32% drop.

23 Bridle Road , a 1832 square foot ranch with 4 bedrooms and 1 bath built in 1978 on .93 of an acre sold in February for $215,000, down from its original price in November of 2012 of $227,900.

On the corner of Tamarack and West Meetinghouse at #1 Tamarack Road, a 2296 square foot contemporary with 4 bedrooms and 2.5 baths build in 2001 on .92 acres sold in July for $355,000, down from its original list of $382,500 in October of 2012. This property was sold back in July of 2002 for $384,450 (again, way before the crash of '08. There was some good appreciation up to '07 and part of '08) for a drop in value of 8%.

Lastly, 22 Tamarack is a 2.62 acre parcel of mostly meadow land on the north side offering great views and considerable privacy. The land was perked and approved for building. It sold in November for

$114,000, down from it's list in February of 2013 of $319,000.

These letters as well as those we write for other neighborhoods are on our website under "Neighborhood Sold Stats" along with their maps, so if you would like to review them or share them, they are just a few clicks away. We work hard to make them interesting and factual and hope you have enjoyed them. You can sign up to get these letters emailed just by leaving your email address there. You can also search the entire MLS for properties for sale in New Milford and neighboring towns on our web site www.bainrealestate.com. It has received much favorable comment for its ease of use. If we can be of service in the meantime, please give us a call. The numbers are below. Enjoy the summer and we'll write again next year.

Sincerely,

David Bain

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

May
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

 

This is the 13th year we have written a letter to tell you what's happened in real estate in your neighborhood this last year. We really are coming out of "the great recession." Buyers have been out, taking advantage of low prices and low interest rates and are out in greater numbers. And we think it's going to be a good Summer. Last year there were 6 sales in the neighborhood, down from 9 the previous year. We expect the numbers will be up in next year's letter!

 So far this past year selling times have dropped to under 6 months. There has been a 14% growth in Litchfield county transactions in 2013 and a 17% growth in dollar sales while appreciation rates are relatively level. We at Bain have had another successful year, out producing our competition in our service area.

 Here's what happened in the neighborhood going from west to east:

 Just south of the Kent line on the south side of West Meetinghouse Road at #491 a 8.5 acre parcel of pasture with a 3 bedroom 2 bath home with a pool closed in November to an abutter for $625,000

 

Down a little further on the other side of the road 450 West Meetinghouse Road is a 1664 sq. ft. hill side saltbox built in 1999 on 10.49 acres. It sold last May for $285,000, just $2,500 under its list price. It went under deposit in just 2 days!

At 392 West Meetinghouse a 3250 square foot colonial farm house with 4 bedrooms and 2.5 baths built in 1966 on 1.9 acres sold in May for $221,440, down from an original list of $300,000.

385 West Meetinghouse is a 1372 sq. ft. ranch with 4 bedrooms and 2 baths built in 1977 on 7.38 acres with a pond and a barn. All of it needing help and sold "as is". It was listed for $249,000 and sold in August for $230,000.

 

 106 Squire Hill is a 33.8 acre single lot of pasture and woods. Most of it has a conservation easement, but there is a nice building envelope. It was listed for $279,000 and sold for $250,000 in July.

20 New Preston Hill is a 5730 square foot architect designed one level country home with 4 bedrooms and 4.5 baths that sat at the end of a long driveway and at the top of a hill with beautiful views from the middle of its 75.92 acres. The sprawling country home showed incredible taste and included a pool, pool house and caretaker's cottage. It sold in October for $4,400,000, down from its list price of $4,900,000

I'd like to bring to your attention 40 Cherniske Road. It is one of the few LEED certified homes in the northwest part of the state, which means is green. Built with renewable materials, loaded with the latest technology, it actually sends electricity back into the grid! Privately situated on 12 acres that abut land trust, its setting is unique and fabulous. Offered for $465,000. Call us for details.

So things are getting exciting! I hope your Memorial Day will be sunny. We'll be working hard throughout the coming year and will write to tell you what happened next year. Meantime check us out at www.bainrealestate.com or give us a call.

 Respectfully,

 David Bain

 

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

May
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

We welcome May!! What a winter it has been. I'm glad to be writing this 13th annual letter about the activity in your neighborhood. Then I get to get into the garden!

Things are definitely picking up. So far this past year selling times have dropped to under 6 months. There has been a 14% growth in Litchfield County transactions in 2013 and a 17% growth in dollar sales while appreciation rates are relatively level. We at Bain have had another successful year, out producing our competition in our service area.

Here is the neighborhood volume from the hay days of 2004 to the present:

2004 had 15 sales

2005 had 20 sales

2006 had 20 sales

2007 had 14 sales

2008 had 9 sales

2010 had 5 sales

2011 had 6 sales

2012 had 6 sales

2013 had 9 sales

2014 had 7 sales

 

Let's look at what happened in the last 12 months:

Starting at 170 South Kent Road, a 1596 sq.ft. ranch built in 2000 on 2.61 acres with 3 bedrooms and 2 full baths sold last May after 2 years on the market for $270,750 down from it's original list of $299,900 and its last list price of $285,000.

At 616 Long Mountain Road I listed this 1233 square foot 2 bedroom, 1 bath post and beam home on 3.38 acres of level land with a 1 bedroom guest house and barn. It was also next to the railroad tracks. It sold in August for $242,900, down from its list price of $295,000.

Right next door at 602 Long Mountain Road I listed Isaac Stern's former home, a 5399 square foot 5 bedroom 5.5 bath home that dated back to 1790. It also had an old barn converted into a 2 bedroom 2 bath guest house with a lower level used as a pool house, and a large, heated pool all on old landscaped grounds of 8.729 acres with a brook running through. The buildings needed much renovation and finding the right buyer took time. It finally sold in September for $525,000 with estimates of several 100's of thousand dollars to renovate. It had started on the market with another broker in 2011 at $1,275,000.

Off of Brown's Forge Road at 6 Quail Ridge Road a 2752 square foot colonial was built in 1986 with 4 bedrooms and 2 baths on a 2.07 acre lot. It sold this March for $215,000 down from its original list price of $299,000 and final list price of $229,000.

Moving over to 385 West Meetinghouse Road a 1373 square foot ranch built in 1977 with 4 bedrooms and 2 baths on 7.38 acres with a barn, pasture and a pond sold in 3 months last August for $230,000, down from its list price of $249,000.

And finally, off Hine Road at 4 Northern View Drive, a 2072 square foot colonial with 3 bedrooms and 2.5 baths built in 2008 on 2.36 acres sold in March of 2013 (missing in my last letter) for $270,000, up from its list of $269,900!

I would like to bring to your attention a property I have listed at 170 Indian Trail. It's a 4006 square foot spacious 3 bedroom 3 bath contemporary with a pool privately situated on 13.5 acres listed for $785,000. It's the perfect weekend home. See it on our website, search "-olmeta".

In the meantime keep posted on all developments by checking into our website, www.bainrealestate.com. These letters are all posted there with their maps under "Neighborhood Stats" if you want to check into past letters or see what's going on in other neighborhoods. Recent sales are there and all the listings in CTMLS. It's easy to search by town or by price or both. If we can be of service to you or your friends, we are here 24-7. Have a healthy summer!

Respectfully,

David Bain

 

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