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Date Archives: October 2017

Bain Real Estate - Market Update Home

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October
16

 

Bain Real Estate Skiff Mountain October 2017 Market Report.

Please Click Here To See The Map.

 

Dear Neighbors,

2016-17 was clearly a pivotal year in real estate.  Nationally real estate sales transactions were up 12% over 2015 figures.  Litchfield County overall saw just over 8% increase. Locally we have seen a similar bump resulting in the volume of sales increase of 14%! In summation, real estate in Kent has on a steady upswing as the market recognizes good values.

The positive economic confluence of lower unemployment, strong trends in the financial markets and tightening interest rates have bolstered consumer confidence. This confidence mixed with the reduction of available homes to buy has solidified real estate values and will predictably push value higher.  This is already happening.

Last year's letter noted over 60 houses being available for sale in Kent. Well, what a difference a year makes as presently there are 52 residential homes listed for sale. The count was as low as 40 listings in the Spring but the stronger market has led to more seller's testing the market. There are now 12 homes in contract to close.

There is still a considerable amount of distractions that make the buyer hesitate whether it is unpredictable international or national events or the financial uncertainty of the State of Connecticut, there seems to be so many issues to think about.

Another trend we are seeing is the desire on the buyer's part to purchase a home that is in tip top condition.  Whether it is the HGTV influence or the fact that today's 30-40 year old buyers were not brought up to relate to fixing up houses is to be argued.  Never-the-less a house that needs considerable work or is "tired" or not updated is more often passed over for one that is ready to move in.  The better your house presents, the higher the value you will see.  Here is what has happened in the last 12 months.

I listed this 1920's Kent homestead at 73 Fuller Mountain Road which had been in the family for two generations and needed some freshening to bring it back to its original splendor. The 1860 sq. ft home with 4 bedrooms and 1 and a half bathrooms is a classic family colonial. It has a great pastoral setting surrounded by blocks of acreage and a short 5 minute walk to Pound Mt. Trust, a lovely 460 acre open space holding with views, water and trails. Originally listed at $295,000 it closed for $210,000.

A cleared driveway is established in the beginning of this 12.54 acre piece of undeveloped land off Macedonia Road. A bridge is required to be built to access majority of land over lovely small creek. An old logging trail winds up the property with a stone wall on northern border. A small brook also runs through the property, flowing into the larger brook on the bottom border of the plot. Another plot is included with this piece & price adjoining in NY State (9acres) on Western border, making the total 21.54 acres. A 4 bedroom home is already approved for this lot, plans are available to view for a home & garage/shop. This was last purchased in 2009 for $150,000 and was brought to the market for $260,000 dropped eventually to $145,000 and closed for $115,000.

184 Macedonia Road is a spacious Cape on a wooded 2.8 acres. The first floor of this three bedroom home features a large eat-in kitchen and a large dining and living room with fireplace that open onto a large deck. The master bedroom with private bath and two bedrooms that share a hall bathroom are found upstairs. The walk-out lower level of the home one finds a finished family room with fireplace, a half bath and laundry, as well as a two car garage. Situated well back from the road taking advantage of seasonal western views, the house was listed for $350,000 and sold for $322,500.

At 9 Macedonia Brook Road the former Macedonia Brook school house, which was repositioned, redone and expanded, sold. This one level home has all the amenities and style one would want including a fabulous pool and gardens. Features include wood floors throughout, 2 fireplaces, a gourmet kitchen that opens to dining room with vaulted ceilings and views of the neighboring meadow, sunroom, 2 bedrooms & 2 baths. It was listed for $575,000 and sold for $515,000 after two price reductions and 300 days on the market.

This lovely antique Colonial at 95 Macedonia Road was built in the late 18th century. Since this time it has evolved into a warm and inviting home with spacious rooms and many of today's comforts and conveniences, all on a 4-acre setting. There are 4 bedrooms including a main floor master and 3.1 baths. The wonderful chef's kitchen with a fireplace leads to a formal dining room and charming living room with original beams, a vaulted ceiling and loft-style balcony. In total, there are 4 fireplaces, including one in the kitchen. Hardwood floors throughout. The outdoor spaces include a blue stone patio and screened-in gazebo along with a free-form Gunite pool with field stone surround. Recent updates include a generator and new roof in 2013. Two driveways- the upper one goes right to the back door. It was listed for $749,000 in 2015 and sold for $500,000 in 2017.

75 Macedonia Road has a similar story. This Kent antique charmer was listed on the market since 2014 and had considerable price changes before selling for $283,700.  This 4 bedroom, 2.5-bath colonial has 4 fireplaces, hardwood floors and exquisite grounds that border the Appalachian Trail.  Pretty views across the open fields the house owns land on both sides of road! Toni Soule and Marilyn Devos of my firm helped sell this house.

I currently have listed 221 Fuller Mountain Road which has both location and quality of design and construction.  A 1200' driveway curves gently across a brook and up to a hillside site where a few acres of landscaped grounds surround the 12 room, 5500 sq. ft. home with a massive stone fireplace. There are 4 bedrooms with 3 and half bathrooms. Rooms are large and ceilings high, while windows and decks (open and roofed) bring the outside in. There is a 5 car heated garage and separate studio that could become an additional guest space. 8 zone radiant heat in all floors and central AC throughout the house. There is also a whole house generator! There is a touch of the orient in this contemporary design. It is listed for $1,800,000.

11 Preston Mountain is an Arts and Craft house offering 3 bedrooms and 2 1/2 baths. The custom kitchen has top of the line stainless steel appliances. In the large living room there is a native fieldstone fireplace and french doors to spacious stone patio. Master bedroom with bath en suite also has a walk-in closet and a private balcony overlooking a stream.  Plus there is an amazing 2 bedroom 1920's chestnut log guest house that has been totally renovated. The living room has a massive beamed cathedral ceiling, 20 foot fieldstone fireplace and frenches doors to deck and stone patio. There are two brooks on the property listed for $799,000.

There are other offerings on the market and if interested call us, stop by the office or visit our website at www.bainrealestate.com.   One can find not only the aforementioned listings and sales but also one can find this letter and all other Kent neighborhood letters archived on our site too. And if you wish to follow our blog for new listings, sales and other interesting real estate tidbits join up from our website.  Enjoy the Fall!

 

All the best,                                              

 

David Bain &

Chris Garrity

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

 www.bainrealestate.com

 

 

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