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Date Archives: August 2016

Bain Real Estate - Market Update Home

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Bulls Bridge | 4 Posts
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Ellsworth | 5 Posts
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Route 7 South | 3 Posts
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Waramaug | 4 Posts
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Westwoods | 4 Posts
White Hollow | 4 Posts
August
1

PLEASE CLICK HERE TO SEE THE MAP.

The first two quarters of 2016 were promising in terms of real estate transactions. There were 46 in the last year in Kent and 25 sales in the last 180 days. It seems the summer slumber has taken hold as buyer activity is slowing.

There is a small pool of buyers who are serious and will purchase if the right house and value coincide. Generally speaking the buyers are more attracted to homes that are well cared for with little work to be done. The better condition and the newer the upgrades to the house, the easier it is for it to sell.

There is still more property supply (53 Listings) than buyer demand, but the number of offerings is being slowly chipped away. Here is our annual real estate report detailing the real estate activity in the last 12 months in Kent and activity on Segar Mountain.

We saw 10 more sales year-over-year, suggesting a more bullish buying sector. That said winter was milder this year so a seasonal effect may also figure in this bump in sales. Another interesting fact is that many of the sales we are seeing are homes that have been on and off the market for 2, 3, even 5 years. This is a clearing of the pre bubbled priced homes and may be harbinger of stronger values in the future as post recession values start to take hold of the market.

An insightful benchmark of the market's health is the number of available listings. While there are only slightly fewer listings on the market today (53) than three years ago (58), we have been trending on a decreasing plane. A balanced supply and demand create a more normalized market. Also encouraging is the fact that there are 9 homes in contract presently. Not to get too excited, keep in mind two of the sales reported in your neighborhood were bank owned properties. On the positive side, they sold!

 

This is what sold in your neighborhood since I last wrote.

Beginning closer to the Village of Kent, 174 Cobble Road closed for $860,000.

This impeccably finished home has scenic views of The Cobble.

Many extras - screened porch, 3 fireplaces, reclaimed wide board floors, cook's kitchen, pristine laundry, heated 3-car garage. There are four bedrooms including well detailed master suite with fireplace and deluxe bath. Systems include a whole house generator, security system with safe heat monitor, roof warming cables and more. Originally listed just over a million dollars then reduced to $895,000 it sold after 539 days on the market.

After 138 days on the market 152B Segar Mountain, a bank owned property, closed for $205,000. Situated privately on 4.7 acres of woods this 4 bedroom colonial has 2 and a half bath rooms. There is a nice open eat in kitchen which opens to a deck overlooking the open back yard w/seasonal views. There is a large formal dining room and a spacious living room. Wide board floors throughout walk out basement which has plumbing for future expansion. It was listed originally for $280,000 and finally reduced to $214,900 prior to selling.

Another bank owned property recently sold. 171 Segar Mountain Road closed at $333,333 after 44 days on the market. The town appraisal on this home is $407,400

Because this 2004 custom built colonial is like new. It has 4 bedrooms, 2.5 baths in over 2500 sq. ft. It also features a huge open kitchen with top appliances like a Viking cook top and breakfast bar connected to family room with gas fireplace. The great room with has vaulted ceilings and the formal dining room offers access to large private rear deck perfect. There is a first floor master suite with a walk in closet, separate tub/seamless glass shower stall and double vanity sinks. 3 additional oversized bedrooms and media loft overlook lower great room on second floor with full bath and double vanity. Beautiful exterior stone work, gardens abound this private retreat on the hill. This home had been on the market since summer of 2011 and fell into foreclosure, relisted in early March of this year and sold quickly.

Dave Fairty of my firm sold his listing at 46 Stone Fences quickly. It took only 34 days because this home offered considerable value; Tennis court, basketball court, fabulous poolscape including screened cabana with a huge stone fireplace and heated Gunite pool, plus an outdoor kitchen. The house offers 4+ bedrooms, 4 full baths with numerous public rooms. There is a considerably large game room in lower level with additional bed/bath. A spacious family room, a combined living room/dining room plus a dramatic.

Kitchen had stainless steel appliances & granite counter tops.

This house with over 4000 square feet of space is set on over 4 very private acres of woods and meadows. It was listed for $849,000 and closed higher with multiple bids for $860,000.

We have two very nice listings in Stone Fences:

I have a 10 acre undeveloped parcel of land adjacent to the open space field and to the property described above. This lot is level and offers numerous building sites all offering different settings. Stone walls and towering trees make this a special lot for $225,000.

My associate Toni Soule has listed 25 Stone Fences for $579,000. With over 3300 sq. ft. this home has all the creature comforts and more. The expansive country kitchen offers a novel and friendly layout detailed in high quality stainless including appliances and a gas stove. The country kitchen open to a spacious dining area and family room featuring a native stone fireplace outlined in bookshelves. The master suite has a 5 star bathroom a ample closets. There is a private office, 3 additional bedrooms and game room on the lower level with a bar, exercise area and a full bath. There is a screened porch or rest on the wrap around porch overlooking the heated pool. This is all set on a level yard with 2.31 acres of privacy.

76 South Road sold. This post-and-bean cape of 2600 sq. ft. offers lots of space and privacy. The living room with fireplace opens to the kitchen and an enclosed porch. Beamed ceilings on the main level and wood floors throughout add to the country feel, which also includes a formal dining room. There are 3 bedrooms and 2.1 baths, including a master bedroom suite with a sitting room. There's also a studio/office space with separate stairs, which is adjacent to an addition off the deck with a Swim Spa. Two-car attached garage. The large deck and back yard open to the level lawn on the 1.7 acre parcel. Closing for $350,000, this home was originally listed for $560,000 and was on the market for 453 days.

Up on Iron Mountain Road two houses closed:

38 Iron Mountain closed for $515,000. This builder's own home has long views. The main floor of 1680 square feet is finished while second floor offers 2446 sq. ft. of unfinished space. The main floor features a massive native stone fireplace complete with a pizza oven. Wooden flooring throughout and 18 x 14 screened porch with views of South Spectacle Lake. There is a four bedroom septic in place with 3 bedrooms and two bathrooms presently available on the main floor. There is a walkout basement, 5 car garage all on 5 acres. This parcel is located at the end of the road and offers nice privacy.

Like many of the sales this house had been on and off the market since 2009.

29 Iron Mountain is a beautifully built Farmhouse sited on 5 private acres with seasonal sunset views. The 2,860 square foot home features hardwood floors throughout, three spacious bedrooms, 2.5 baths, and a large eat-in kitchen with granite counters and stainless steel appliances that opens onto a spacious deck great for entertaining. The master bedroom suite incorporates a large private bath, his-and-her walk-in closets, as well as a lovely sitting room that can be used as a fourth bedroom. In addition, the walk-out basement has been finished into a media/game room and opens to a perfect pool site. It sold for $525,000.

28 Iron Mountain is an energy efficient barn on 5 acres. High ceilings, bright, open loft floor plan with oak woods throughout, stone fireplace in the living room are only part of this 2400 sq. ft. home. There are 4 bedrooms and 2.5 bathrooms plus a terrace off the living room and main floor master bedroom. The lower level with high ceilings offers expansion possibilities. Adjacent to the main residence is a garage with large loft above that could be finished. Selling for $600,000 this home has Easterly views towards South Spectacle Lake.

I have 94 Richards Road listed for sale. The home is privately set with winter views. The 3 bedroom, L-shaped one level home is a perfect for those seeking easier mobility. It has a large living room/dining room that focuses on the fireplace. Sliding glass doors to a large new deck offers more entertaining space. The master bedroom is large and multi-leveled suite. It is listed at $379,500.

There is an adjacent 5 acre parcel also available for purchase for $160,000. This one sits on Richards Road and is high, treed land with a gentle slope to the north.

Lastly, 45 Richards Road sold. With direct waterfront and glorious lake views of South Spectacle from every room, this home is a spacious modern home. Jeremiah Eck, a New England Design Hall of Fame Architect designed this 4 bedroom lake house whose interior includes gourmet kitchen, floor to ceiling stone fireplace, master suite with views over the lake and a screened porch. This property is part of the Spectacle Lake Community and has rights to tennis courts and the beach house. The house had been listed on and off the market since autumn of 2013 starting at $2,950,000 and sold for $1,550,000.

Chris and I, along with our entire firm hope you enjoy our updates of the market and want you to know you can find this letter and all our Kent market letters on our website www.bainrealestate.com under Neighborhood Stats. There is a place there where you can give us your email address to get these letters and other market updates electronically. We continue to work to assist buyer and sellers in their pursuit of their goals and thank you for supporting our success as the leading real estate firm in Sharon, Kent and Cornwall over the last 10 years.

Happy Summer!

 

David Bain

Chris Garrity

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

 

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

August
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

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. Here is our annual real estate report detailing the real estate activity in the last 12 months in Kent and your Bulls Bridge neighborhood.

In the last 12 months there have been 48 residential sales in Kent compared to 39 the previous 12 months.

We saw 9 more sales year-over-years suggesting a more bullish buying sector. Interestingly the increase time it took to sell a house climbed from 167 days on average to 178 days. But this is a marginal figure.

A common benchmark of the market's health is the number of available listings. There are fewer listings on the market today (49) than three years ago (58), we have been trending on a decreasing plane. A balanced supply and demand create a more normalized market. Also encouraging is the fact that there are 7 homes in contract presently. There is only one residential offering available for sale in the neighborhood and this is what sold in the last 12 months.

  128 South Kent Rd Sold $280,000

This one level home with 2000 square feet offers 2 large bedrooms and 2 full bathrooms all renovated in 2007. The kitchen has been completely remodeled with high end appliances and fixtures. There is a separate family room and an attached garage. It was listed for $289,000 prior to its sale. Bain agent Dave Fairty represented the purchasers.

 

  21 Highland Rd Sold $305,000

This well cared for Cape style home with 3 bedrooms, 2.5 baths located on a private lot was listed by my associate Toni Soule. The open floor plan works great for entertaining or growing household. There is an oversized native fieldstone fireplace in living room with accompanying hardwood floors. The master bedroom has a full bath and is located on the second floor with 2 additional generous sized bedrooms that share a full bath. There is a full dry basement that served as a workshop and has potential for added living space if needed. Home is tucked away on 1.5 acres. It had been listed for $325,000 and sold within 31 days of being on the market.

Up atop Mountain Road on the east side of the hill The Kent Land Trust purchased a 13 acre parcel for $121,000. Creating even more space for wildlife adding to their Bull Mountain holdings, this acquisition only further ensures that the rural feeling of the neighborhood will be preserved.

  322 South Kent Rd Sold: $238,000

This light filled colonial farm house needing some updating offers 1984 sq. ft. with 4 bedrooms and 2 full bathrooms. There is a formal dining room and a living room with a fireplace. There are original 1900 hardwood floors through out the house. There is a large barn and a shed on this 3.1 acre level parcel. Views of pond can be seen and there is a classic country front porch. This home had been on the market for many years and most recently has been undergoing a complete renovation.

  11 LaFontan Drive Sold; $275,000

This 4 Bedroom 3 Full baths on private, level lot has an added large bonus room on lower level opens up to a sizeable yard. There are vaulted ceilings and new flooring in both the dining and diving rooms. In-law capabilities on lower level with bedroom, full bath with new vanity and tile and separate access. The 1320 square foot raised ranch was built in 1989 and has 1.74 acres.

   184 Bulls Bridge Rd Sold: $211,500

This 1800's antique Farmhouse has been gently updated. Generously sized eat-in kitchen with granite counter tops and exposed wood beams. It offers a large family room with period details and a master bedroom with ample closet space. There is a second bedroom, plus an additional attached office space. Hardwood floors throughout the house combined with considerable of storage. The nearly half an acre lot is level and has mature landscaping.

Lastly, 237 Bulls Bridge Rd. is a 352 square foot cottage offering one bedroom and a small kitchen, bath and living room. This petite home sits on a level third of an acre of land and sold for $65,000.

Chris and I, along with our entire firm hope you enjoy our updates of the market and want you to know you can find this letter and all our Kent market letters on our website www.bainrealestate.com under Neighborhood Stats. There is a place there where you can give us your email address to get these letters and other market updates electronically. We continue to work to assist buyer and sellers in their pursuit of their goals and thank you for supporting our success as the leading real estate firm in Sharon, Kent and Cornwall over the last 10 years.

 

David Bain

Chris Garrity

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

 

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