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Date Archives: September 2015

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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
September
1

PLEASE CLICK  HERE TO SEE THE MAP.

 Dear Neighbor,

Summer is fading so it's our time to reflect on the real estate market over the previous 12 months and how it has fared nationally, regionally, town wide and even down to your neighborhood.

 

Nationally the main urban centers are doing quite well. They are the drivers of the economy and by extension real estate sales. In Connecticut we are seeing a stable market with sales reflecting national trends. Foreclosures are ebbing from the historical highs of only a few years ago. The local real estate market was strong in the first quarter of 2015 but quickly evaporated during the summer months. But the data shows that 2015 was considerably stronger than 2014 in Kent. In the last 12 months there have been 38 sales transactions in Kent nearly a 40% increase in transactions year over year.

.

Here is what has happened in Kent by the month.

 

Month

Sales, Number of

Sep 1 2014

Oct 2014

4

0

Nov 2014

5

Dec 2014

6

Jan 2015

4

Feb 2015

3

Mar 2015

2

Apr 2015

1

May 2015

2

Jun 2015

5

Jul 2015

2

Aug 2015

4

 

Confidence continues to be the main factor in the solidification of values. National

Economic trends are faring well despite worldwide market turmoil. Unemployment claims are fewer than the most recent years and consumer confidence is buoyed.

 

But there is still softness in our market. With increased optimism and more sales sellers who have been on the sidelines for the last 6 years are coming on the market for sale. Hence there are more listings on the market today (66) than last year at this time (56), a 15% increase. So, as the market becomes bloated with homes, the pressure on prices begins to increase. We are already seeing this manifest in our listing to closing ratios.

 

Date Sales Av. List Price Market Time Av. Sales Price

2013-14 23 $ 815,491 146 Days on $748,010

2014-15 38 $ 500,425 169 Days on $469,997

  

The Skiff Mountain neighborhood has seen five sales in the last 12 months which is four greater than the previous year. Here is what has transpired and some of our offerings.

 


75 Macedonia Road
was the Pratt family Homestead from 1865 until 1935 and is now listed for sale for $470,000. The 3 story, 1776 sq. ft. home has been well cared for. It is uniquely arranged with a large first floor living room with a massive fireplace and kitchen. Upstairs, there is a cozy library with fireplace, master bedroom en-suite and 3-season screen porch overlooking gardens. The home is situated on over 11 protected acres with land on both sides of the road and has 4 bedrooms and 2.5 bathrooms. Listed with Toni Soule and Marilyn DeVos.

 

Toni Soule of our firm has sold this 1929 Cape style home at 119 Macedonia Road listed for $195,000 and closed for $183,000. With 2 bedrooms and 2 bathrooms on nearly an acre of land, it maintains a lovely country feeling with old floor boards, wood beamed ceilings and a large fireplace. Requiring some work, it is in that affordable range that suits the market place.

 

11 Preston Mtn. Rd is set between two cascading mountainside brooks. This Kent family compound offers two houses. The 3 bedroom main house features a custom kitchen with stainless steel appliances, soapstone counters, large living room with stone fireplace & French doors to the stone patio and screened porch, master bedroom with bath en suite, walk-in closet and balcony. The 1500 sq. ft. guesthouse is a 1900's chestnut cabin offering 2 bedrooms, 2 bathrooms, gourmet kitchen, lofted living room with a massive stone fireplace, all for $879,000. The owner and agent is Eve Sommerfield

 

16 Stony Brook Road is a private setting on 2.7 acres. The home features a cathedral ceiling in kitchen, hardwood floors and fireplace in living/dining area. First floor has a bedroom the second floor includes two additional bedrooms, walk in closets and full bath. Large level yard with stone walls and gardens bordering the Bog Hollow Brook. Listed for $342,000 and closed for $315,000 in 227 days.

 

 

257 Macedonia Road has the Bog Hollow Brook curving through the 1.49 acre property. This sweet country Cape has 1,350 sq. ft. of living space with 3 bedrooms and 2 baths. The open kitchen features a fireplace and a large deck off the dining area opens to meticulous grounds and gardens. Toni Soule has this listed for $245,000.

 

 

13 Kelley Drive is a one level home with all hardwood or tile floors throughout. There are 3 large bedrooms, two full updated baths, a fireplace, attached 2 car garage, full house generator with 1000 gal propane tank. Private, quite this 1,404 sq. ft. home is nestled on a 1.83 acres of level land. Originally listed at $355,000 the home closed within 142 days for $290,000 with David Almquist of our firm assisting the buyer.

 

 

22 Dolldorf Road closed last November for $520,000. This Adirondack-inspired country house has 3 bedrooms and has many modern features. Set on 3.5 wooded acres, this country house has an open living room and dining area plus new cook's kitchen. Redone baths w/radiant heat, main floor master suite, wide board wood floors are all nice touches. It was listed for 210 days before selling.

 

 

30 Dolldorf Road is an example of the real estate bubble. In 1994 this 3 bedroom ranch with 1852 sq. ft. on 2.14 acres sold for $144,000. 14 years later (2008) with nice improvements such as a barn, horse pastures, wood flooring and new kitchen and bathrooms the property sold for $450,000. In the course of 6 years the devastation of the Great Recession forced a foreclosure where the house became run down and shabby. It has recently sold for $183,500 in a hail of bids and is in the process of being rejuvenated!

 

Lastly, I have listed this handcrafted New England home on 8.5 acres surrounded by 3500 acres of state forest and land trust. The timber frame construction is of aged Douglas fir, hand cut on site and joined. The construction and the finishing details are works of art. The materials used were the best to be found: quarter-sawn white oak and 6" knot free southern yellow pine for the floors and knot free poplar and oak trim. This 2400 sq. ft. home has 3 bedrooms and 2.5 bathrooms and is listed for $795,000. You can watch the video on our website.

 

I hope you find this information useful and we wish you a wonderful autumn!

To provide you with more information these letters are archived on our website: www.bainrealestate.com. Look for "Neighborhood Sold Stats" on the home page. There you will find other Kent neighborhood letters. We have also added all the houses for sale in Kent and surrounding towns that are in the MLS system to our website! This means that you need only to go to our site to find any and all the properties in your neighborhood, Kent or the fourteen towns we serve. We have also added videos to our site to improve and sharpen the marketing of homes. Video is the medium our customers are used to so we are on the cutting edge and the only ones using them in the area. Please check them out! If you have any questions, give us a call and we'll let you know about properties in the neighborhood! And until then be well and enjoy the onset of autumn.

 

Respectfully,

 

David Bain

Chris Garrity

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

 

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

September
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

The autumn morning cool has set in and is a nice relief to the warmth and dryness of summer. Leaf peeping season is upon us and the village center will be bustling much like the real estate market this past year.

So, its time again for our annual neighborhood real estate report detailing the real estate activity in the last 12 months in the village of Kent on the residential, condominiums and commercial properties. In Kent here are the listings broken down into their categories:

73 residences

6 condominiums

19 commercial – 9 of which are in the Kent Town Center complex

19 parcels of undeveloped land

Confidence continues to be the main factor in the solidification of values. National Economic trends are faring well despite worldwide market turmoil. Unemployment claims are fewer than the most recent years and consumer confidence is buoyed. While we have had considerable sales success in Kent in the last year we are still confronting the supply and demand issue that shows there are more sellers than buyers.

With increased optimism and more sales, sellers who have been on the sidelines for the last 6 years are coming into the market. Hence there are more listings on the market today (73) than last year at this time (66), a 10% increase. So, as the market becomes loaded with homes, the pressure on prices begins to increase. We are already seeing this manifest in our listing to closing ratios.

Date Sales Av. List Price Market Time Av. Sales Price

2013-14 27 $776,085 138 Days on $706,286

2014-15 42 $ 486,170 165 Days on $449,711

 

Average sales price reflect a $190 per sq. ft. as opposed to the $224 per sq. ft. the 12 months prior.

Here is what transpired in the Village neighborhood since I wrote you last:

There were 6 condominium sales; 2 residential closings; 4 commercial transactions.

 

Condominiums:

The condo values seemed to have dropped considerably. We are seeing sales prices that reflect pricing from a decade ago.

 

 

 

 

 

Kent Hills - 80 North Main Street

There were five transactions at Kent Hills in the last twelve months.

Number Bds Bths Gar. Floor Sq. Ft. Ask Sold

KH1B5/B1 2 2 1 car 2nd 1225 $135,000 $117,500

KH1B5/B2 2 2 1 car 2nd 1280 $175,000 $162,500

KH1B5/A2 2 2 1 car 2nd 1280 $225,000 $225,000

KH1B5/B5 2 1 1 car 2nd 1252 $120,000 $120,000

KH3 U 15 2 2.5 1 car 2nd 1688 $199,000 $199,000

Average-2015 4% off asking price $170,800 $164,800

 

Average-2014 9% off asking price $221,750 $202,250

 

These averages compared to a year ago indicate that values are still vacillating. 1 of these sales was a bank owned property.

There are presently eight (8) units for sale with an average listing price of $175,500.

 

River View Commons- 16 Elizabeth Street – No sales

Victorian Square Condominiums – 81 North Main Street

This whole complex sold this year. All 11 units sold including the main house for $980,000. The units are all leased.

Single Family Residential:

The village residences are still very much in demand. People are seeking the convenience that the village offers, the neighborhood camaraderie and the size of the homes are desirable.

My partner, Chris Garrity, sold 23 Lane Street listed for $369,000 it sold for $355,000. This is a lovely 3 bedroom village Colonial with a level back yard. The house has been completely renovated over the last 10 years and features antique maple flooring, moldings and wainscoting. French doors open to the back patio, a cozy office and a formal dining room. Easy to maintain and top of the line appliance and utilities.

8 Elizabeth Street : This early 1900's dwelling is a two family home on almost an acre with Housatonic River frontage and large rear yard. Each apartment has a private entrance and feature 2 bedrooms, a full bath, eat in kitchen, deck and laundry. The main floor has an attached garage and a full basement. It was listed and sold full price at $350,000. We subsequently leased the second floor unit for the new owner.

Commercial:

The commercial market has been pretty active this year. Last October 3rd the town's people voted 124 to 44 in favor of acquiring the 1.6 acre former Chevy Dealership lot across from the Fife n Drum. The town's bid failed and another purchaser paid $420,000 for the lot that was being offered for $495,000.

39 North Main Street sold. This three unit apartment building sits on .14 acres and has 2229 sq. ft. It closed for $240,000 at the end of 2014 and has been completely renovated. There will be two apartments in the dwelling and presently the main street apartment is being converted into two office spaces.

Across the street the Train Station at 38 Main Street sold. The 3400 sq. ft. building is presently being renovated and will be the new location for the pharmacy. The property sold for $785,000.

We leased the former Cliff's Garage at 21 Bridge Street. The building has many levels that include over 9000 sq. ft. of apartments, showrooms, garages and office space. There is an additional outbuilding on the nearly one acre of land. The former "bus barn" for the local school buses is set on the back of the lot. It was asking $3,000 per month for rent.

One of the prettiest buildings in town recently sold. The "Belgique" building at

1 Bridge Street closed for $525,000 after being on and off the market for years. The last list price was $549,000 but the listing was once closer to a million dollar. This classic 3600 sq. ft. Queen Ann Victorian is ornate and well appointed both inside and out. There are 4-5 bedrooms and numerous parlors in the house. The front porch has a great view up Main Street under a lovely old copper beech tree planted in 1898 when the house was built for Dr. Barnum. There is a 2000 sq. ft. carriage house that was once the chocolate store that is included in the sale.

We have a few new listings in town that are of interest.

45 North Main Street, formerly Bank of America is an opportunity in the heart of downtown Kent. This 3300 sq. ft. former bank building is ready to repurpose. 1872 contiguous sq. ft with private offices, drive up window & 100 sq. ft. walk-in vault. There is a large lower level with bathrooms and storage. The second floor has two separate one bedroom apartments leased. The building is ADA compliant with over 18 parking spaces. It has great Main Street visibility and convenient for foot and vehicular traffic. The owner will consider a long term lease at $3000 per month or sale for $675,000.

Chris Garrity is the listing agent.

This is also a great alternative for the Town of Kent to consider for its desire for public bathrooms, parking and information/community center. The owner is willing to work with the town on this idea. Come to the meeting on the Town's acquisition of the Manasse lot and let's hear your opinion!

There are 19 other commercial properties on the market in Kent so there are many options in town.

Lastly, we have listed a charming in town cape at 92 North Main Street. There is a movement to settle in the village and this cute cottage just north of town on .8 acres, has the potential. With a first floor master bedroom with nearby full bath, a large eat-in kitchen, adjoining family room & den with fireplace and a screened porch, first floor living is easy. But wait there is more; two additional bedrooms and a full bath upstairs. All listed for $325,000 and requiring some updating. Dave Fairty has the listing.

Kent continues to thrive. See you on Main Street.

 

Respectfully,

David Bain

Chris Garrity

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

 

 

 

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

September
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Summer is fading so it's our time to reflect on the real estate market over the previous 12 months and how it has fared nationally, regionally, town wide and even down to your neighborhood.

Nationally the main urban centers are doing quite well. They are the drivers of the economy and by extension real estate sales. In Connecticut we are seeing a stable market with sales reflecting national trends. Foreclosures are ebbing from the historical highs of only a few years ago. The local real estate market was strong in the first quarter of 2015 but quickly evaporated during the summer months. Yet the data shows that the last 12 months has been a bit stronger than the previous in Sharon. In the last 365 days there have been 49 sales transactions in Sharon four more than the year prior. As one can see the average sales price has decreased slightly and yet the average square foot price has increased. To provide perspective in 2011 there were 43 sales and in 2012 there were 37 home sales transactions.

Closed (45) Sharon Sept. 9, 2013- Sept. 9, 2014

 

 

Bed

Bath

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

Days

Min

1

1

644

$109,900

$85.71

$50,000

$53.23

.43478

4

Max

9

6

1,205

$6,650,000

$954.8

$6,137,500

$764.67

1.03139

689

Avg

3

3

2,659

$793,931

$242.6

$698,105

$213.07

.87804

183

Median

3

3

2,316

$499,000

$208.7

$453,750

$182.45

.90476

149

Sum

 

 

 

$35,726,900

 

$31,414,719

 

 

 

 

Closed (49) Sharon Sept. 9, 2014- Sept. 9, 2015

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

Days

Min

 

 

576

$50,000

$28.50

$40,000

$27.12

.58632

 

Max

6

6

6,469

$3,950,000

$1,562.50

$3,400,000

$1,500.00

1.22839

931

Avg

3

2

2,415

$745,108

$264.57

$654,166

$235.68

.89503

186

Median

3

2

2,016

$299,000

$193.83

$280,000

$173.61

.8952

130

Sum

 

 

 

$36,510,300

 

$32,054,150

 

 

 

 

Here is what has happened in your neighborhood.

The lake was beautiful this summer and active certainly at the Town's lakefront. My daughter Hazel was a lifeguard and enjoyed working at the beach.

Not far from the beach 39 Minneluta Trail recently sold for $83,500. This 672 sq. ft. home with an enclosed porch has 2 bedrooms and one bathroom. The year round home is sited on .69 acres of land.

Down on the south side of the lake we were also busy. Drew Holland, my associate, assisted the buyers of 50 Highland Road. This home was bank owned and in fairly good repair with a new roof and painted interior. The home was built in 1987 and has nearly 1300 sq. ft. with four bedrooms and two full bathrooms. The house is sited on .17 acres and has a nice yard. It closed at $160,000.

134 Cedar Road is listed with us. This starter needs tender love and attention but has a large lot of .80 acres with a garage and tons of potential. There are 2 bedrooms and one bathroom in this 716 sq. ft. home built in 1974. It is listed for $95,000.

Another affordable home recently sold. 55 Douglas Road sold for $40,000. Requiring considerable renovation, this cute cottage has a nice yard and two bedrooms, one bath in 567 sq.ft. The kitchen has been updated and the price was right.

Ethan Watt, our newest agent and Sharon native, just listed 5 Cedar Road for $179,900.

This is a really nice log cabin built in 1990. This home is in immaculate condition. There are two bedrooms plus a loft room as well as a nice bathroom. The open kitchen living room has 15 foot ceilings. A large wrap around deck is accessed from the sliding glass doors off the kitchen. Pellet stove keeps the place warm. There is a full basement that can be finished. Two barns and a large open yard are featured outside on the .46 acre lot.

To provide you with more information these letters are archived on our website: www.bainrealestate.com. Look for "Neighborhood Sold Stats" on the home page. There you will find other Sharon neighborhood letters. We have also added all the houses for sale in Sharon and surrounding towns that are in the MLS system to our website! This means that you need only to go to our site to find any and all the properties in your neighborhood, Sharon or the fourteen towns we serve. We have also added videos to our site to improve and sharpen the marketing of homes. Video is the medium our customers are used to so we are on the cutting edge and the only ones using them in the area. Please check them out! If you have any questions, give us a call and we'll let you know about properties in the neighborhood! And until then be well and enjoy the onset of autumn.

 

Respectfully,

Chris Garrity

David Bain

& the Sharon office- Jen Luning, Michele Pastre, Joanie Yahn, Ethan Watt & 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