Get new listings emailed daily! SIGN UP LOGIN

Date Archives: December 2015

Bain Real Estate - Market Update Home

rss logo RSS Feed
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
December
1

PLEASE CLICK  HERE TO SEE THE MAP.

Dear Neighbor:

Happy Holidays! We've enjoyed a lovely, long fall with the brightest colors in many years. The Wish House is ringed with bright white wreaths, the Pottery Shop and C J Burke's salon are festively decorated and the brand new sidewalk leads us down to warm food at the Wandering Moose. Holiday gift shopping is in full swing at The Pottery Store and The Wish House plus the 3 art galleries have beautiful objects as well: The Souterain Gallery, Upstairs at Todd Piker's and at Ian Ingersoll's Shaker Furniture. Shaker furniture is one of my favorites, but if you'll stop in at Ian's you will find there is a lot more in stock that is contemporary and beautifully crafted of unusual woods.

For the last 2 years we have reported 3 sales in the neighborhood, this year only 2.

8 Smith Place started out as a barn in the late 19th century and became a home in the early 20th century. It is sited on a hillside which slopes down to Mill Brook. This 3 bedroom 2 bath home has a wood burning stove insert in the first floor living/dining room. The first floor bedroom could also be a marvelous home office with its own entry door. Listed at $169,000., I sold it to a frequent Yelping Hill renter who has Cornwall ties for $130,000.

7 Railroad Annex is a storage/workshop on one level which was sold to a neighbor for delinquent taxes of $7,587.

We have several things for sale in the"hood:"

7 Railroad Street is a commercial rental that I have listed. A handsome gray building across the Plaza from the railroad station offers a 1000 square foot first floor space with a half bath. Track lighting, shelving, built-in areas for desks would make this a good location for a small business, art gallery or? At $800. /month rental, which includes heat and electricity, it is very affordable.

99 Sharon Goshen Turnpike is a converted red barn with great views, deck and swimming pool. 3132 square feet have only been partially developed to include at kitchen, living room, 2 bedrooms and 2 bath rooms. Rick Meehan has this listing sited on 2.33 acres, newly reduced to $325,000.

Almost across the street on Sharon Goshen Turnpike Rick has a 16 acre lot available for $175,000. It is a lightly wooded hillside with a stream and with some tree cutting would offer southerly views.

On Cream Hill Road, abutting the Cornwall Consolidated School, David Bain has listed a 9.6 acre lot with 1500' of road frontage. This wooded lot offers unusual privacy. An almost level driveway could make available several view sites. There is good timber with mature trees. This one needs to be walked to see its potential. $125,000.

Two Sharon listings which I have do have West Cornwall mailing addresses:

240 West Cornwall Road is an 1816 Salt Box with 2 bedrooms, 1 bath room and a brand new propane furnace plus 2 wall mounted heat pumps which supply air conditioning. There is a charming garden shed in side yard. $162,000.

319 Route 7 overlooks the covered bridge. It features a lower level 2 bedroom apartment with a lovely open porch. The upper 2 levels include 5 bedrooms, 3 bath rooms, formal dining room, eat-in kitchen, an office with an exterior door and sunroom porch. Last year we reported it for sale at $375,000. It has been reduced to $299,000.

We look forward to your visit or call. Refer to our www.bainrealestate.com to see all the listings available in Litchfield County.

Cordially yours,

   

Priscilla Pavel

David Bain and Chris Garrity

Asher Pavel, Rick Meehan, Heidi Kearns

December
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

It is that time again for our annual real estate report detailing the activity in the last 12 months in the neighborhood. Wow, we are fortunate as the wonderful fall day's this late in December.

This same fortune seems to be trending in the real estate world. Confidence continues to be the main factor in the solidification of values. While there are daily occurrences of uncertainty, the national economic indices are faring well.

The local real estate market has been robust. We saw a strong 4th quarter in 2014 with 11 sales, a fairly brisk first quarter of 2015 with 10 transactions and a third quarter 2015 boom with 14 properties selling. That trend continues with 8 sales so far this quarter and a half with 6 homes presently in contract to close before the year's end. Kent is on track for a very strong year with nearly 50 home sales.

With increased optimism and more sales, sellers who have been on the sidelines for the last 6 years are coming into the market. There are more listings on the market today (80) than last year at this time (73), a 8.5% increase. So, as the market becomes loaded with homes, the downward pressure on prices increases. We are already seeing this manifest in our listing to closing ratios.

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

2012-13 28 $ 553,579 199 Days on $ 494,927

2013-14 27 $ 813,852 146 Days on $ 740,189

2014-15 43 $ 488,108 198 Days on $ 443,322

So here is what has transpired in your neighborhood:

15 Hidden Meadow Lane is a large contemporary home on a privately sited 12 acre parcel. With spacious rooms, considerable natural light, pool deck and family game room this 4/5 bedroom home features an open floor plan. There is a stone fireplace that is floor to ceiling over 20 feet. Three car garage, large master suite all in this 3500 sq. ft. home built in 1997. This property was listed for originally for over a million dollars and we brought the buyer who paid $765,000.

Directly next door is a parcel of land we sold to the owners nearly 20 years ago. This 11.83 acres, level and wooded, sold to a neighbor for $100,000.

Down on Kent Hollow Road I sold the former Puskas homestead at 80 Kent Hollow Road on 5 acres for $170,000. This sweet 4 bedroom, 1 bathroom cape style home is just less than 1000 sq. ft. of living space with wood floors and a fireplace and in very good condition.

 

27 Upper Kent Hollow Road is a circa 1780 two bedroom Cape meticulously restored with great attention to detail. This 2.88 acre tiered property has stone walls and great southeastern views and gardens. The second structure is a restored vintage tobacco barn, currently a spacious one bedroom guest house with a fireplace, high ceilings and a large deck overlooking the grounds. A third structure is a pristine Post & Beam barn ready for conversion with electric and septic system in place. A magical property that Toni Soule of my firm had listed and that closed for $402,500.

 

142 Anderson Road is a 1,000 sq.ft. 2 bedroom home in the Hollow that Dave Fairty of my office listed and I sold. Open country kitchen, stonework and plantings throughout the property. Sited on a beautiful corner lot at Anderson and Kent Hollow Roads, this has lovely gardens. All mechanicals are brand new, as is the roof. This bank owned property closed for $ 126,250.

 

72 Anderson Road is a chic country farmhouse on quiet, private setting tucked off the road. Dramatic southwest views. 9.45 Acres. The non-traditional layout offers a charming interior and could support building a more substantial addition. Beautiful grounds, stream, small waterfall and an additional 2.5-Acre parcel. It closed for $597,500.

  314 Kent Hollow Road was a relocation company's property that was in need of considerable rehabilitation. The one level home of four rooms and 874 sq. ft. sits on 1.7 acres of open land. A perfect downsizing home with great upside it lasted only 11 days on the market and sold for $99,900.

I listed and sold a French Normandy stylish retreat at 260 Kent Hollow Road tucked away on 21 acres with pond and pool. With 18" thick masonry walls, imported antique tiles on the floor, leaded glass windows, extra heavy hand made doors; this is a well built home. Offering three bedrooms and three bathrooms in 2400 sq. ft. this home also features a cobblestone courtyard with a center fountain, fieldstone patio overlooking the pond, and a gunite lap pool in the side yard. This home is very unique and special from top to bottom. It was listed for $1,450,000 and closed for $1,337,500.

I sold 90 Beardsley Road in 2010 for $647,850. 5 years later with improvements in both the house and the real estate market, the house was listed for $745,000 and closed above that for $760,000. This tastefully restored 18th century colonial is a comfortable blend of old and new. Antique beams & wide board floors, vaulted ceilings in the kitchen,a living room with a fireplace opens to 20x20 screened porch overlooking gardens, meadows, stone walls, small pond. The increase of value indicates clearly that the market values of many homes are strengthening.

Lastly, 20 Sugarloaf Mountain Road sold for $312,500. This colonial built in 1985 has 4 bedrooms and 2 and a half bathrooms. In nearly 2600 sq. ft. this home offers hardwood flooring in part of the residence as well as an attached garage. It is situated on 0ver 8 acres of land.

There are a number of properties on the market in Kent and even in the neighborhood so if you wish to see any of them, know more about them, or have someone who might be looking, give us a call.

While the weather is balmy don't get complacent. Last year at this time it was warm and then we had one of the hardest winters. Be prepared with shovels and wood and be safe. Happy Holidays from all of us.

 

David Bain

Chris Garrity

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