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Date Archives: February 2015

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
February
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

Let's hope that this past blizzard is the worst of the winter and that it is behind us! Yes, the roads, schools, post offices and town offices were closed, but now we are all open for business!

Last year in Cornwall there were 23 house sales and 2 land sales, a drop in transactions from 2013 when we recorded 27 houses sold as well as 6 land sales. Specifically in the Cream Hill area in 2014 we've had 2 land sales and 1 house sale. We currently have 6 properties for sale in your neighborhood.

Two lots totaling 48.9 acres on Cream Hill (see map) have sold for $470,000. The lots were owned by family members, and while one of the lots had been on the market for several years, last year was the first time they had been offered as a package. The interest in the double lot package was immediate. A local couple bought the land. As it was my listing and I also worked with the buyers, I was doubly happy.

40 Rexford Road is a ranch house at the end of the road with lovely views overlooking farmland and faraway hills. With 4 bedrooms and 2 kitchens, this could be a duplex but has always served a single family residence. Long term Cornwall renters were the buyers at $335,000.

The third sale was a land sale on Cherry Hill Road. The 14 acres sold for $215,000 in this most desirable area.

There are 6 properties for sale: 5 are land, 1 is a house.

At the corner of Reed Brook Road and Cream Hill Road there is a 9.5 acre lot for sale.

It is adjacent to the 48.9 acres mentioned above and it already has a contract for sale with a closing scheduled for later this Spring. Once again I am delighted to be representing both the sellers and the buyer. The list price is $325,000.

 

Further down on Cream Hill Road, just behind the Cornwall Consolidated School, there is a 9.6 acre lot available for $150,000. It has mature timber and a south facing slope. A building site can be had with a near level driveway. This one needs to be walked. David Bain has this listing.

Just around the corner on Route 128 my office mate Rick Meehan has a 16 acre parcel listed for $175,000. This lot offers a stream, a hillside, and a small clearing ideal for a house site.

Across the street at 99 Sharon Goshen Turnpike (this is Route 128) Rick Meehan has also listed a converted barn on 2.33 acres. This 2 bedroom, 2 bath home with 3132 square feet is just awaiting creative ideas for its transformation into a dream house. It has a lovely deck and a pool. On the exterior there are box stalls for animals and the extra feature of a full house generator which starts automatically and is fueled by propane. Most importantly, there is an incredible view and all can be had for $390,000.

Last year I introduced a new land listing of 67 acres over on Town Street. It is still available with its lovely pond, wooded hillside, abundant stone walls and a wide choice of home sites, all with views. The best news is that it has been reduced by $200,000! It is now priced at $495,000.

20 Stone Hill Road is a 14 acre lot on a private road just past the Scoville farm. It has a brook, underground conduits for power installed, 300' driveway to a walking path and an approved house site with pastoral views. I have this private parcel listed at $249,000.

We hope you enjoy receiving our updates. This year is Cornwall's 275th anniversary. I'm on the committee planning a celebration. If you have any ideas you might share with me about those plans, I'd really appreciate receiving them.

All our letters about Cornwall and the surrounding towns are archived on our website: www.bainrealestate.com under Neighborhood Sold Stats. Please see and follow our new Cornwall blog: http://the3cornwalls.blogspot.com. All our neighborhood letters appear there as well as new listings and recent property sales and other pertinent Cornwall happenings.

Please feel free to stop by our office as we are right next door to the Wandering Moose and would enjoy your visit.

Cordially,

Priscilla Pavel

Rick Meehan Heidi Kearns

 

This graph shows the number of successful transactions in our key towns of Cornwall, Kent and Sharon in 2014

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

February
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The 30 sales transactions in Kent in the last 12 months is only slightly more than last year's tally of 27. We are seeing the path back to a more balanced market. There is a small pool of buyers who are serious and will buy if the right house and value coincide. There is still more property supply than buyer demand, but the number of offerings is being slowly chipped away.

Moreover, the national economy is systemically healthier, providing a more confident buyer pool. We are seeing a very strong upper end of the market fueled by capital that is seeking hard assets, like real estate, in which to invest. It is the main reason we are seeing cash deals for multi-million dollar estates during a time of historically low interest rates. Typically the upper end of the market is the trend setter in value recovery as that level of the market has more capital flexibility and critical evaluation processes.

In summation, incrementally our market values are getting healthier. One critical indicator is the number of days it takes to sell a house. 5-6 months is considered the standard of a "normal" market. The days it took to sell a house in the last 12 months was 148 down nearly a month from last year and two months from 2013.

Another benchmark of the market's health is the number of available listings. There are considerably fewer listings on the market today (45) than last year at this time (58). And there are 3 sales pending.

Here is what has transpired in the last 12 months.

Time to enjoy the simple things in life! Charm carries through this impeccable 2 bedroom home at 9 Segar Mountain Road. This family has installed many great quality upgrades including a new driveway. The proximity to town and easy to maintain are two major reasons why this house, available at $235,000, is a deal.

59 Segar Mountain Road is a 1930's style cape home with three bedrooms, two bath, fireplace in the living room and wood flooring throughout. The home was in need of considerable updating and renovation. The grounds maintain over 70 years of plantings and also include a pool and a one bedroom pool house. Listed for $235,000 we sold it for $175,000 to an investor who renovated beautifully. They took this 1935 gem and completely renovated the entire property. A master craftsmen and an interior architect reinvigorated the timeless style and included high standards that today's savvy population expects. The custom high-end fixtures, appliances, kitchen and bath appointments as well as the state of the art heating and air conditioning systems make this a great full time or weekend residence. The original main house has retained many details from 1935 and now has 3 bedrooms with baths en suite. The pool house was upgraded with a new septic and the place is fabulous. It was listed for $595,000 and sold for $555,000 all in 98 days.

22 Cobble Heights is a perfect getaway retreat off Cobble Valley. Dramatic fieldstone fireplace & soaring ceiling in LR/DR. Private 2nd floor Master bedroom suite. Family room/office on lower level has a full bath and a professional photographer's darkroom. The 2700 sq. ft. house on 2 acres sold for $412,000.

206 Segar Mountain Road was renovated and expanded by its current owners. An upper level was added affording panoramic views of Cobble Brook and a sumptuous master suite. The main level has a warm and inviting kitchen with wood stove, living room, guest room & bath as well as a den. We assisted the buyers who closed for $257,000.

Nestled on a hill side acre, this cutie at 246 Segar Mountain could be a 3 bedroom home, but works best with two bedrooms and 2 full baths. It is in great condition recently painted and nice floors. Improvements such as a new septic, new water pump ensure mechanicals are of no concern. It is listed $149,000 as one of the best opportunities at this price point.

Beautiful private 4.48 acre wooded lot at the end of the cul-de-sac on Stone Fences Lane sold. This is a great site for one's dream home on this level and private parcel. This parcel last sold in 1992 for $60,000 and closed recently for $86,000.

A Contemporary home at 280 Segar Mountain with great space and sunlight-filled rooms is in turnkey condition. Both the living and dining rooms have high ceiling and lead to a wrap-around deck. 3 bedrooms include a master suite and there is potential for a 4th bedroom. The home is privately sited at the top of a 3.6 acre parcel that is wooded and sloped. Close to town it was originally listed for $495,000 in May 2010 and sold after three price reductions for $335,000.

Atop a 5 acre parcel with views over South Spectacle Lake, 36 Iron Mountain Road has a level wooded building site that closed for $100,000.

We closed on 23 Davis Road this month. This cape style home with French provincial touches is bordered in stone walls on a 2 acre manicured parcel. There are 3 bedrooms in this 1,850 sq. ft. home. The 2 bathrooms are tiled and employ Toto fixtures. A country kitchen features wood beamed ceiling, stone fireplace and zinc topped cabinetry. There is a second floor family room as well as an office, garage and barn. My partner Chris Garrity had this listed for $660,000 reduced to $625,000 and it sold for $593,895.

Set atop one of the highest points in Kent is this spacious sun-filled house with 50 mile views. 32 Spectacle Ridge Road is listed for $3,200,000 by Chris Garrity and it maintains privacy, lake access to South Spectacle and of course truly great views. Four private suites provide wonderful comfort while the open floor plan allows for family fun. The detail, quality and craftsmanship are paramount and a luxurious horizon line pool feels like swimming on top of the world. See the video at www.bainrealestate.com

There are more properties for sale in the neighborhood, so if you need assistance on any of them, please give us a call. We here at Bain Real Estate wish you all the best of 2015 and hope you will let us know if you need any help in the coming year. For current updates check our blog at http://heartofkent.blogspot.com/

All the best,

David Bain

Chris Garrity

And the Kent office-Toni Soule, Dave Farity, Marilyn DeVos, Eve Iselin & Scott Harvey

 

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014

 

 

 

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

February
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Well, it's February and time for our annual update on what's happening in Warren and in your neighborhood. The good news is that the economy in the country is improving and the real estate market in the Northwest Corner is gaining strength. There are fewer foreclosures that were dragging us down and there are more buyers searching for homes (see the Warren sales stats for the last year below) and happily land parcels are seeing increasing interest even in this snow!

Here's a little Warren history (our reporting year actually runs from February to February):

In 2007 there were 38 homes on the market and 15 sold.

In 2008 there were 36 homes on the market and 8 sold.

In 2009 there were 40 homes on the market and 10 sold.

In 2010 there were 48 homes on the market and 17 sold.

In 2011 there were 28 homes on the market and 12 sold

In 2012 there were 22 homes on the market and 13 sold

In 2013 there were 25 homes on the market and 17 sold

Today there are currently 20 homes on the market in Warren and this past year saw 25 houses sold! That's a significant jump, the most sales in a given year since we started these letters.

There are 12 parcels of land currently on the market and there were only two land sales in Warren in the past year.

Your neighborhood had five residential sales, up from just two last year!

Starting at 258 Kent Road, a former Eric Sloane home dating back to 1775 sadly became a bank foreclosure. This 1660 square foot antique was a cute home when we sold it in 2005 for $440,000. Then extensive remodeling including an addition of a second floor bedroom over the garage and combining two small bedrooms into one the colonial was transformed into a charming 3 bedroom 3 bath home on 4 acres. Coupled with a large barn (with old apartment and fireplace) this renovated home was worth around $700,000 pre 2008. Unfortunately due to economics it was subsequently abandoned and developed water leaks, serious black mold and significant rot. It sold after 4 years on the market and in the hands of JP Morgan Bank for $168,000.

 74 Reed Road is a 3288 square foot colonial built in 2004 with 4 bedrooms and 2.5 baths built on 4.93 acres that sold after 3 years on the market in June for $395,000 down from its list price of $459,000.

At 45 Partridge Road a 1600 square foot high ranch with 3 bedrooms and 2.5 baths and a 3 car garage built in 2005 on 1.03 acres sold in July for $213,000.

144 Curtiss is a converted barn originally built in 1908 with an addition of over 3000 square feet, and newly finished 3
bedrooms and 3 baths on 3.4 acres with heated gunite pool. On the market for 4 years listed at $1,095,000 it sold in December for $850,000

218 Lake Road is a 1660 square foot ranch with 2 bedrooms and 2 baths built in 1972
on 2 acres. Listed in May for $178,000 and sold in July for $178,000. This one was well priced and went fast.

We have a beautiful 53 acre parcel for sale on Above All Road for $324,000. It has long road frontage, sub-division potential and mature trees of timber quality. With potential views and two brooks this is a great investment parcel or estate site.

All of the current MLS listings can be seen on our website www.bainrealestate.com .

Plus your entire past inventory of neighborhood letters and maps are archived there at (Neighborhood Sold Stats). I encourage you to visit our site with information about listings, recent sales and our towns. There is also a way to get direct email posting of new listings as they hit the market.

I am also happy to tell you for the eleventh year in a row we have been the leading broker in Kent, Cornwall and Sharon with more listings and sales than any other broker. We are also top ranked in Warren thanks to your support.

We again received to 2 separate recognitions for our work in 2014:

  • US Commerce Association designated us " Best of Kent in 2011-14"
  • Connecticut Magazine survey " Highest in Overall Satisfaction"

 

Both are titles that we work hard for and cherish. So 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,

David Bain

Chris Garrity

And the rest of our associates:

Kent: Toni Soule, Debbie Bain, Marilyn DeVos, Eve Iselin, Scott Harvey, Dave Fairty

Cornwall: Priscilla Pavel, Rick Meehan, Heidi Kearns

Sharon: Jennifer Luning, Michele Pastre, Drew Holland, David Almquist

 

 

 

         This graph shows the number of successful transactions

          in our key towns of Cornwall, Kent and Sharon in 2014

 

 

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

February
1

PLEASE CLICK HERE TO SEE THE MAP

Dear Neighbor,

Well, it's February and time for our annual update on what's happening in Warren and in your neighborhood. The news is good! The economy in the country is improving and the real estate market in the Northwest Corner is gaining strength. There are fewer foreclosures that were dragging us down and there are more buyers searching for homes (see the Warren sales stats for the last year below) and happily land parcels are seeing increasing interest even in this snow!

Here's a little Warren history (our reporting year actually runs from February to February):

In 2007 there were 38 homes on the market and 15 sold.

In 2008 there were 36 homes on the market and 8 sold.

In 2009 there were 40 homes on the market and 10 sold.

In 2010 there were 48 homes on the market and 17 sold.

In 2011 there were 28 homes on the market and 12 sold

In 2012 there were 22 homes on the market and 13 sold

In 2013 there were 25 homes on the market and 17 sold

 

Today there are currently 20 homes on the market in Warren and this past year saw 25 houses sold! That's a significant jump, the most sales in a given year since we started these letters.

There are 12 parcels of land currently on the market and there were only two land sales in Warren in the past year. One was in your neighborhood.

Your neighborhood had seven sales.

Starting at the north end of the neighborhood off Route 45 was the land sale : a rear lot of 16 acres accessed off a private drive shared by two others. It was a mostly tillable pasture with good south eastern views. It closed in December for $260,000 after more than 5 years on the market. There were complications dealing with access to utilities which we finally solved. I was the listing broker and my partner, Chris Garrity, was the selling broker. Nice to be doing land again!

Further south at 102 Melius Road, a 6844 square foot stone colonial with 8 bedrooms, 4 full baths and several half baths originally built in 1799 on 89 acres with several large barns (art studios) a guest house and other out buildings sold in October for $3,300,000. The main house and barns needed considerable work, but the whole package was wonderful, a one of a kind estate.

218 Lake Road, a ranch with 1660 square feet includes 2 bedrooms and 2 baths built in 1972 is sited on 2.07 acres. It was listed in May and sold in July for its asking price of $178,000! Well priced.

Just off Rt. 341 at 8 Rabbit Hill Road is a charming 1635 square foot cottage with 2 bedrooms and 2 baths built in 1930 on 5.47 acres. It had been tastefully renovated and had a one bedroom guest house. The location was excellent and the views significant. A perfect weekend house. It sold in August for $547,000. This first came on the market in 2012 for $550,000, significant work was done a year ago and the price raised to $595,000.

Over on 55 Rabbit Hill is a 2250 square foot ranch with 3 bedrooms and 2.5 baths built in 1940 on 4.1 acres with a swimming pond. The house is actually in Washington and 2.37 acres of land were in Warren. Town Hall recorded a value of $120,000 for the Warren land. The house had been significantly upgraded and the total package sold for $500,000.

275 Woodville Road is a 768 square foot Cape with just 1 bedroom and two baths built in 1978 on 2 acres. It was listed in April for $159,000, dropped to $139,000 in June and sold in September for $70,000.

Up in the northeast corner 265 Milton Road is an 1164 square foot 3 bedroom, 1 bath ranch on 3.1 acres. This 1950's home was first listed for $305,000 in January of 2012. Lowered several times to a final price of $230,000, it closed in September for $225,000.

At 45 Cornwall Road a long straight driveway to the top of the hill leads to this solidly built 1782 cottage with 2 bedrooms and 2 baths. This antique gem is well lit with skylights and large windows. There is a 2 car detached garage with artist's studio all set on one acre. We have this listed at $349,900.

I hope you have found this of interest. You can read this letter on line as well as all past letters and maps for your neighborhood and the rest of Warren on our web site, www.bainrealestate.com . Just click on "Neighborhood Sold Stats" on the Home Page.

You can also find all the Warren listings of houses for sale, rentals, and land parcels posted on the same web site.

Thanks. I'll write again in a year to let you know what's happened.

Respectfully,

David Bain

And the rest of the associates:

 

Kent: Toni Soule, Debbie Bain, Dave Farity, Marilyn DeVos, Eve Iselin, Scott Harvey

Cornwall: Priscilla Pavel, Rick Meehan, Heidi Kearns

Sharon: Chris Garrity, Jennifer Luning, Michele Pastre, Drew Holland, David Almquist

 

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

 

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014

February
1

PLEASE CLICK  HERE TO SEE THE MAP.

Dear Neighbor,

Well, it's February and time for our annual update on what's happening in Warren and in your neighborhood. The good news is that the economy in the country is improving and the real estate market in the Northwest Corner is gaining strength. There are fewer foreclosures that were dragging us down and there are more buyers searching for homes (see the Warren sales stats for the last year below) and happily land parcels are seeing increasing interest even in this snow!

Here's a little Warren history (our reporting year actually runs from February to February):

In 2007 there were 38 homes on the market and 15 sold.

In 2008 there were 36 homes on the market and 8 sold.

In 2009 there were 40 homes on the market and 10 sold.

In 2010 there were 48 homes on the market and 17 sold.

In 2011 there were 28 homes on the market and 12 sold

In 2012 there were 22 homes on the market and 13 sold.

In 2013 there were 25 homes on the market and 17 sold

Today there are currently 20 homes on the market in Warren and this past year saw 25 houses sold! That's a significant jump, the most sales in a given year since we started these letters.

In our neighborhood there were 7 residential sales.

  Starting at 54 Chester Road a 2688 square foot 2 bedroom barn style home deep into 53.64 acres sold in March for $1,425,000, down just $75,000 from its list price. It has a nice hill top at 1420' and the 2 story home had radiant heat and central AC.



_____________________________________________________________________

Just to the south at 8 Chester Road, a 2764 square foot 2 –bedroom, 3 bath cottage on 8.96 acres with pond frontage sold in 272 days last May for $500,000, down from its list of $539,000

 

____________________________________________________________________

  Over at 24 City Road, just off Brick School Road Marilyn DeVos of our Kent Office sold a 2848 square foot log home with 5 bedrooms and 2 baths on 44 wooded acres. It closed in November for $455,000 down from its list of $465,000



_____________________________________________________________________

180 Brick School Road is a 1,991 square foot farmhouse with 3 bedrooms and 2.5 baths built in 1978 on 3 acres. It sold in May for $389,500 in 360 days, down from its list of $409,900.

 

____________________________________________________________

258 Kent Road is a 1660 sq. ft. colonial and a barn on 4 acres. This 1755 antique, once owned by Eric Sloane, was beautifully finished when we sold it in 2005 for $440,000. Additional remodeling, including a bedroom over the new garage, made it a charming 3 bedroom 3 bath home worth nearly $700,000 prior to the Crash. Unfortunately it was abandoned, developed water leaks, serious black mold and significant rot. JP Morgan Chase Bank foreclosed and sold it for $168,000 after 4 years on the market.

 

________________________________________________________________

74 Reed Road is a 3288 square foot colonial with 4 bedrooms and 2.5 baths built in 2004 on 4.93 acres and has frontage on a pond and nature preserve. 9' ceilings, Central Air and a 3 bay garage were extras. It sold in June for $395,000 down from its original price of $459,000.

 There was one land sale in the neighborhood:

We sold a lovely 16 acre pasture lot off the Cornwall Road (Rte. 45) for $260,000. I was the listing agent and my partner, Chris Garrity, was the selling agent. There were complications that took both a patient buyer and months and months of work to solve!

I have also just listed a 100 year old stone farm house at 265 Cornwall Road just north of the 16 acres mentioned above. Part of the land is in Cornwall, but the 2400 square foot 3 bedroom 2 bath stone house is in Warren. You can see the details on our web site. The price is $339,500.

At 45 Cornwall Road a long straight driveway to the top of the hill leads to this solidly built 1782 cottage with 2 bedrooms and 2 baths. This antique gem is well lit with skylights and large windows. There is a 2 car detached garage with artist's studio all set on one acre. We have this listed at $349,900.

I am also happy to tell you for the eleventh year in a row we have been the leading broker in Kent, Cornwall and Sharon with more transactions than any other broker. We would like to do the same in Warren and ask for your help. We also received again 2 separate recognitions for our work in 2014: The US Commerce Association gave us the designation " Best of Kent in 2011-14." The Connecticut Magazine conducted an independent survey of buyers and sellers through out Litchfield County where we finished with " Highest in Overall Satisfaction," a title we work hard for and cherish.

Meanwhile, check us and the activity out at www.bestofcountrylivingblogspot.com

 

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,

David Bain

And the rest of the associates:

Kent: Toni Soule, Dave Farity, Marilyn DeVos, Eve Iselin, Scott Harvey
Cornwall: Priscilla Pavel, Rick Meehan, Heidi Kearns
Sharon: Chris Garrity, Jennifer Luning, Michele Pastre, Drew Holland, David Almquist

 

  

 

This graph shows the number of successful transactions

in our key towns of Cornwall, Kent and Sharon in 2014

 

 

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