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Date Archives: June 2018

Bain Real Estate - Market Update Home

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June
19

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP

Another busy year. This past year saw the almost as much activity as last year which had 18 sales.  This past year we had 14 with 3 sales over the $4M mark! For comparison, 2006-2008 (the good years before the crash) each year saw 14 sales. 2009 dropped to 6, 2010 had 9, 2011 had 10, 2012 only 5, 2013 had 8 and while 2014 came back to 14.  The lake and its environs continue strong and, thanks to the Task Force, the quality of the lake water continues to get cleaner and clearer!

Here are the specifics: Starting up on the top side of Curtiss Road, here's what's sold in the last year on and around the lake:

At the corner of Curtiss Road and Mountain Lake Road an 8.5 acre building lot was split off from a larger 32 acre holding. It had a driveway up to a clearing with lake views.  It was listed for $375,000 and sold in January for $325,000 after 633 days on the market.

45 Curtiss Road is a 1855 square foot country home with 3 bedrooms and 2.5 baths originally built in 1910. It was the original Curtiss Hill Farm house and once owned most of the land around it but now has just 1.4 acres.  It sold in September after 164 day on the market for $315,000 just under its list price of $329,000.

95 Curtiss Road is a 2636 square foot 5 bedroom 4.5 bath 5 bedroom 4.5 bath stone (New Preston pink-granite) cape built in 1941 on 26.9 acres with incredible views out over the lake.  It was listed for $2,500,000 and sold quickly for $2,050,000 in August.

 

35 Sheehan Road is a 2302 square foot contemporary with 3 bedroom and 2.5 baths built on 3.31 acres in 1984.  The house needs lots of updating.  It was listed for $249,900 and sold at that price in just a few days.  A local builder saw the potential and has recently been totally refurbished and is about to come back on the market. 

A 2.24 acre building lot on west side of Hopkins Road just off Curtis Road and before the vineyard was listen for $199,000 and sold with multiple buyers in 38 days for $230,000!   Great site, lucky buyer!

14 Strawberry Ridge Road is a totally remodeled 5153 square foot contemporary with 4 bedrooms, 4 full baths and 2 half baths finished with care and luxury and many extras on a 2 acre site with great views of Waramaug as well as part ownership of a 2 acre grassy lot right on the lake.  This was listed for $3,250,000 and sold for $3,000,000 in 26 days!

Lake Road is a 59 acre parcel that once was a 7 lot subdivision listed for $1.6M with a paved drive deep into the property.  It also has access from Lakeview Drive off of Tanner Hill.  It was sold as a single parcel in December of last year for $475,000, down from its most recent list of $650,000.

Moving to the Washington side –

297-8 West Shore Road is a 2502 square foot one level lakefront home with 3 bedrooms and 2.5 baths built in 1925 on .76 acres with an additional .33 acre across the street.  There has been major updating done in 2013.  It sold in May of last year for $4,500,000.

248 West Shore Road is another direct waterfront home on .80 of an acre with 300' of waterfront. It has been totally renovated with 4 bedrooms and 4.5 baths spread out in 3355 square feet.  It was listed for $4,950,000 and sold in November for $4,138,000.

199 West Shore Road, contemporary with some of the finest finishes.  It comes with its own boathouse with living space above and 125' of lakefront.  It was listed for $4,500,000 and sold 424 days later for $4,500,000!

141 West Shore Road and 23 Loomarwick Road is a 2269 square foot American Shingle home directly on the lake with 3 bedrooms, 2 full baths and 2 half baths built on 1 acre and recently renovated in 2010 and 2011. It was sold in May of last year for $2,000,000, down from its list price 6 months earlier of $2,275,000.

 

199 Tinker Hill is a 2264 square foot rambling contemporary with 4 bedrooms and 3.5 baths that sits on 5.62 acres high above the lake at the end of West Tinker Hill.  Recently renovated with a 4 car garage, a small barn and some level land for gardens or kids.  Originally listed for $875.000, it sold in 2 months for $865,000.

1 Anna Jay is a1447 square foot 1925 cape built on.66 of an acre in 1925 with 4 bedrooms and 2    baths.  The house had been updated in 2014.  It sold for $400,000 in November down from its list price of $495,000 in September of 2016.

68 East Shore is a 1364 square foot 3 bedroom 2 bath home built in 1900 on .18 of an acre.  It had great gardens and good lake views right across from the Washington Town Beach.    It sold in November for $385,000 at its list price in just 52 days.

If you or your friends need any real estate help, please keep us in mind. You can find all the properties for sale on our website, www.bainrealestate.com . You can also receive this letter and other neighborhood real estate information by leaving your email address there or sending it to me at db@bainrealestate.com. Have a great spring/summer. I will write again next year.

Respectfully,

David Bain and Chris Garrity

 

 

 

         

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

June
7

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP

The strengthening of real estate market has been increasing for two years as seen in the diminishing inventory of homes for sale.  In 2015 there were 70 houses available for sale in Sharon. Today we have 59 residential homes available in this spring market.  So, of course we need more listings-so if you are considering selling, call us.

Equally brisk are sales with 47 homes selling in the last 12 months just slightly below the 51 sales the year prior.  The increased demand and a sell-off of an over supplied market of 75 listings a few years back is critical to solidify values.  There are also 9 homes in contract to sell-off which my firm is participating in 4 of them. 

Even with fewer houses available there are still a number of distractions that foster a buyer's hesitation when considering a purchase. Whether it is unpredictable international or national events, the financial uncertainty of the State of Connecticut or the coming of age of younger buyers whose desires and goals vary considerably from the previous generation of buyers, there seems to be so many uncertain issues.

The Millennial Buyer who wishes to purchase a home that is in tip top condition is one such issue.  It's challenging to discern if the culprit is the HGTV influence or the fact that today's 30-40 year old was not brought up to relate to fixing up houses. Nevertheless 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 or new.  The better your house presents, the higher the value you will see and the sooner it attracts a buyer. 

Here is what has happened in the neighborhood since our last letter:

1 Northrup Road is a peaceful five acre parcel in a pastoral, gently rolling topography. The parcel had been tested and surveyed and approved for the suitability to build. This parcel had been on the market for a long period of time and was last listed for $85,000.  We sold it sold for $75,000.

Directly next door, my partner David Bain sold 7 Northrup Road, a one level, one bedroom modern styled home. A winding driveway spans a boisterous tumbling brook and brings one to this A1 award winning 1664 sq. ft. retreat. Surrounded by 20 acres this exquisitely designed home utilizes efficiently every inch of space. From the Sub Zero to the centrally located fireplace to the deluxe master bedroom, this architectural gem provides maximum of pleasure and comfort in a minimalist package. This special home focuses on easy living, its 50' long pool, its secluded location and distant views. Listed and sold for $570,000 this property lasted 46 days on the market.

2 Northrup Road is a 1922 hideaway nestled amidst 9 acres of pine forest. It has been renovated and expanded to 1715 sq. ft. open floor plan.  The living and dining areas feature a fireplace with pillars, crown molding and French doors to a deck. The eat-in kitchen has bead board faced cabinetry, a built-in bookcase and pantry. There are three bedrooms and two and one half baths all on one level.  The master bedroom offers vaulted ceilings, French doors to the deck, a walk-in closet and full bath with soaking tub. The acreage includes a mix of woodlands, a small brook that passes through one corner of the property and rock outcroppings typical of the Connecticut countryside. It sold for $425,000 after a year on the market with an original asking price of $499,500

Mountain House at 12 Old Sharon Road #2, is perched on a precipice to optimize the panoramic views of the hills of Cornwall. Picture windows offer both the views and invite nature to light the interior. In an open floor plan the soaring beamed living room ceiling highlights the floor-to-ceiling native stone fireplace. The large formal dining room opens to the 900sq. ft. deck. The designer galley kitchen has high-end stainless appliances and a custom marble sink. The master bedroom has long views, a luxurious bath with shower and soaking tub. Two guest bedrooms, each en-suite are comfortably designed.  Stone terraces surround the house with over 5000 sq. ft. of patio space accessed from almost every room. This house was listed for $1,200,000 and sold for $1,166,250 in less than a month. This house had sold for $930,000 only two years prior and while the owner improved the property they still saw a considerable value increase of near 25%.

5 Guinea Road is a charming 2,200 sq. ft. country home for the outdoor enthusiast. Set on a dead-end town maintained road close to the Housatonic River and Appalachian trail, this 3-bedroom home is set on 3.8 acres and is filled with nice details, from the slate floored mudroom to the stone fireplace in the living room. The kitchen is open to the family room and dining room for the open living.  There is a small screened porch and a large front deck. But to understand how much the market has changed in the last few years this house offers a good example. This house has been on and off the market since 2010 starting at $329,000. There is no cable internet access here which sank a transaction when listed in 2010 for $295,000.  In 2016, it was listed and still did not sell.  Returning to the market 7 months later and in a stronger market, the list price was $225,000 and sold for $220,000 in 16 days.

With direct frontage on the Housatonic River, Dave Fairty of my office sold the property at 18 River Road. This charming 1860's eyebrow colonial has 1000 sq. ft. but every bit needs tender loving care. There is a nice stone fireplace, wood floors, front porch and land with garden area.

It was sold for $200,000 and yet listed for $169,900 that in of itself is another sign of the market's continued improvement.

There are a few 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 Sharon 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. 

 

All the best,

Chris Garrity &

David Bain

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