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Date Archives: December 2019

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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
December
23

Bain Real Estate 2019 December Segar Mountain Market Report.

PLEASE CLICK HERE TO SEE THE MAP

 

Dear Neighbor,

 

December provides a review of how Kent's real estate values have unfolded. Little has changed from 2018 to 2019 with 49 closings in 2018 and 51 sales this year.  A surprising statistic is the significant reduction in inventory.  Listing inventory is down 15% YTY.  There are only 39 homes available. What are the implications?   Market constriction will likely bolster house values and make land, which has yet to recover from the 2006 recession, more intriguing. 

 

Nearly 60% of Kent sales this year have been below $400K.  The $400K-$1MM range earned 30% of the market transactions while 10% (5 sales) transpired above the $1MM mark.

 

Those waiting on land to regain values lost over the last 13 years may find land sales rebound in 2020. The lack of house options and only 16 land offerings is a positive sign, though a cautionary perspective is advised as there were only 2 land transactions in Kent this past year.

Here it is what has transpired in your neighborhood in the last 12 months.

 

28 Segar Mountain Road

This 16' x 38; 1 bedroom, 1 bathroom ranch has a new 3 bedroom septic and southern views over its gardened back yard. It's an ideal solar site. Just on the edge of the village, it is close to town but has a country feel. This one is clean and neat and I listed it for $139,500 and it sold for $135,000.

 

128 Segar Mountain Road

I sold this property for $225,000 in 1998.  Last year, a fire heavily damaged this 5 bedroom post and beam home with large windows and an open floor plan.  I recently sold this house and the renovations are underway. With considerable potential this 2800 sq. ft. home sold for $218,000.

  

9 South Road

Toni Soule & Chris Garrity sold this 3 bedroom, 2 bathroom raised ranch with a spacious living room and formal dining room.  Kitchen leads to a 14x24 deck overlooking 3 acres of manicured grounds. The lower level can be an in-law space or a family room. Built in 1987 this house has over 2300 sq. ft. with a separate laundry room, office a 2-car garage.  It closed for $265,000.

 

55 Stone Fences Lane

A 1996 4-bedroom, 3 and a half bathroom home entails over 2400 sq. ft. and has a first floor master with whirlpool tub. Other features include a fireplace, vaulted ceilings, deck and finished walk-out lower level. The newly renovated kitchen includes stainless steel gas range and stone counters. Sited on 2.41 private acres, it sold at $374,500 after spending 2 years on the market.

 

39 Stone Fences Lane

This 1996 farmhouse house offers over 2400 sq. ft.  The kitchen has stainless appliances and granite counters plus easy access to a wraparound mahogany deck. Main floor has both a master with walk-in closet and en-suite bath and a bookshelf lined living room. Three additional bedrooms are on the 2nd level while the lower level is a family room.  This sold for $440,000.

 

16 Stone Fences Lane

This 2006 Cape Cod has a 1st floor master with both laundry and bathroom en-suite. Two additional bedrooms and a full bath are upstairs. There is a large, eat-in kitchen plus a formal dining room. The attached 2 car garage provides shelter from the weather.  There are 2.77 acres of level land. Priscilla Pavel of my office listed this for 134 days when it sold for $380,000.

 

15 Bald Hill Road

This1969 Split Level style home offering over 1,000 sq. ft. is up on 2.5 acres of land. Requiring considerable work, it has 3 bedrooms, 2 bathrooms, full basement for added storage and a 2 car garage.  Listed for over a year this Bank Owned property sold for $94,400 

 

30 Kenmont Road

Along the shores of the west end of North Spectacle Lake we have listed a seasonal cottage. Known as the "Big House" by the family who built it in the early 1900's it sits above the lake with views and steps to the dock and lakeside.  With just under 1000 sq. ft. the place has two bedrooms, 1 bathroom a fireplace and a screened porch.  It's a lovely getaway for $289,000.

 

  38 Davis Road

Antique 1-room school house circa 1900 has cottage features, cathedral ceilings, framed-in bedroom, bathroom, staircase to a loft and cupola on the roof. Requiring imagination and creativity this perfect small house offered potential. This home was sold in "as is" condition and has since been upgraded by the new owners who purchased the building for $50,000.

  

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. 

 

Happy Holidays,

David Bain &

Chris Garrity-Toni Soule, Marilyn DeVos, David Hurlburt, Scott Harvey, Karen Grimaldi, Heidi Kearns,

Asher and Priscilla Pavel

 

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

 

 

December
21

Bain Real Estate 2019 December Spectacle Lakes Market Report.

Dear Neighbor,

PLEASE CLICK HERE TO SEE THE MAP.

 

As we close out 2019 it is interesting to see how the year in Kent and area real estate unfolded. Sales, year over year proved consistent from 2018 to 2019 with 49 closings in 2018 and 51 sales this year.  But the real surprising statistic is the significant reduction in inventory.  Listing inventory is down 15%.  There are 39 homes available. What are the implications?   Market constriction will likely bolster values and are spotlighting land that has still yet to recover from the 2006 recession. 

 

Nearly 60% of the sales in Kent this year have been under $400,000.  The $400,000-$1,000,000 range earned 30% of the market transactions while 10% or 5 sales transpired above the $1MM mark.

 

As noted above, the opportunity for land sales to rebound with the lack of house options and only 16 land offerings, this is a positive sign for those waiting on their land to regain the lost value. Though as we have learned this is a cautionary perspective as there were only 2 land transactions in the last year and a number of bank owned parcels are still available in the neighborhood.

 

The most impactful news in the neighborhood is of course the proposed cellular tower in the Spectacle Lake neighborhood.   There are two properties that are under lease by the company (Bald Hill and Richards Road) and pose considerable value impact to the area.  Either site, if state approval is granted, will feature a tower of between 125' and 175' in height thus being visible from not only the neighborhood but from far beyond.  While the merits of the safety and communications are important, these considerations clash with the rural beauty and preservation priorities of many Kent residents and Planning and Zoning's.   

 

Here it is what has transpired in your neighborhood in the last 12 months.

 

Most of the activity occurred in the St. John's area of the neighborhood with a generous gifting of a 100 acre parcel to the Kent Land Trust.  My partner, Chris Garrity sold the Aroesty family this property that features views of the Catskills and the Yuza Mini brook.  While remote, this parcel connects nicely with other protected parcels.  Thank you Jeff and Kelly for your donation.

 

Of the 16 parcels of land in Kent that are for sale, 10 are in St. John's Peak neighborhood. There have been a few parcels that are now owned by the lender who took over non performing loans. The lot prices range from $44,900 to $395,000.

 

9 Old Paddock Lane

This newer 2500 sq. foot 3-bedroom, 2 and a half bathroom Colonial home is located on 14 acres at the end of the road. The wood shake and vertical shiplap with the roof a combination of metal and asphalt shingles makes this an interesting home. The open floor plan entails a large living/dining area with a native stone fireplace and an atrium door to the deck. An eat-in kitchen features shaker style cabinetry, farmhouse sink, and Viking range. The master has two walk-in closets and en suite bath. There is both an office and library with bookshelves and fireplace. A 2-car garage is attached plus storage barn. Much of the acreage remains woodland and a portion of the property abuts Wyantenock State Forest while the house is surrounded by open lawns and gardens. Closed in late 2018 this house sold for $570,000 with only 45 days on the market.

 

12 Old Homstead Lane

A privately sited 4 bedroom, 3.5 bath Colonial set on 6 acres.  There is a 1st floor bedroom en suite. This home is tastefully designed and well constructed. The open floor plan offers a modern touch to the traditional style.  Master bedroom features 2 walk-in closets & full bath. The separate 3-car garage offers ample storage. Immediately abuts Protected Lands. Initially listed in 2015 for $920,000, the house sold for $752,500 this past February.

 

  59 Kenico Road

An idyllic Orvis-type lakefront cottage steps from North Spectacle Lake. The living room and kitchen both center on the 1930's native stone fireplace with sliders opening to the deck and lake. Completely renovated in 2007 it has new bathrooms and country kitchen featuring central air conditioning and hardwood floors. There is an outdoor fireplace on the wrap-around deck overlooking the level lakefront with sandy bottom. Mountain laurel and large oak trees dot the 5.7 acre lakeside parcel which Chris Garrity sold this in 2006 for $1,330,000 and sold it again this past summer for $1,365,000.

 

30 Kenmont Road

Along the shores of the west end of North Spectacle Lake we have listed a seasonal cottage. Known as the "Big House" by the family who built it in the early 1900's it sits above the lake with views and steps to the dock and lakeside.  With just under 1000 sq. ft. the place has two bedrooms, 1 bathroom a fireplace and a screened porch.  It's a lovely getaway for $289,000.

 

38 Davis Road

An antique one room school house circa 1900 is a charming cottage featuring cathedral ceilings, framed-in bedroom, bathroom and staircase to a loft. Prior additions included a cupola on the roof and electric upgrade from 100A service to 200A. Requiring imagination and creativity this perfect small house offered potential. This home was sold in "as is" condition and has since been upgraded by the new owners who purchased the building for $50,000.

 

15 Bald Hill Road

This 1969 Split Level style home offering over 1,000 sq. ft. is up on 2.5 acres of land. Requiring considerable work, it has 3 bedrooms, 2 bathrooms, full basement for added storage and a 2 car garage.  Listed for over a year, this bank owned property sold for $94,400. 

 

  9 South Road

Toni Soule & Chris Garrity sold this 3 bedroom, 2 bathroom raised ranch with a spacious living room and formal dining room.  Kitchen leads to a 14x24 deck overlooking 3 acres of manicured grounds. The lower level can be an in-law space or a family room. Built in 1987 this house has over 2300 sq. ft. with a separate laundry room, office a 2-car garage.  Closed for $265,000.

 

11 Upper Kent Hollow Road

An existing cottage sits on 7.12 acres of largely open land.  The cottage was gutted to prep for a renovation that never took place, an existing septic and well whose conditions are unknown. My agent Toni Soule sold this for $139,000 and new owners have already begun renovations.

                                            

40 Spectacle Ridge Road

This custom built and designed American Shingle Style is perfect for a site which enjoys spectacular panoramic views over Lake Waramaug and Kent Hollow framed by the large windows in most rooms. The living room features a fireplace and a library alcove. The well equipped kitchen with an eat-in area opens to the family room with a fireplace and access to a terrific screened-in porch. On the second level are 4 bedrooms. The master bedroom has a fireplace and a luxurious bath with soaking tub and oversized shower. Two bedrooms share a bath; another has a bath en suite. A room over the 3-car garage could be a 5th bedroom. Walk-out, finished lower level has gym and game room. Professionally landscaped gardens have natural stone walkways, and an infinity-edged pool offers a view. It was listed for $2,750,000 and closed for $2,450,000.

 

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. 

 

Happy Holidays,

David Bain &

Chris Garrity-Toni Soule, Marilyn DeVos, David Hurlburt, Scott Harvey, Karen Grimaldi

Asher and Priscilla Pavel

 

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

 

December
3

 

Bain Real Estate 2019 November Upper End Market Report

 

Dear Neighbor,

 

It's time to look at the past year to see what happened to the upper end market.  This letter is an update of the activity between October 31, 2018 and today within the context of the 11 towns we service in Northwest Connecticut. There are a lot of statistics, but they do tell us things about the market. 

 

The market is strong even though there are still 196 properties over the $1M mark that have not yet sold.  Note the average sale price continues to grow and the average days on market is up by almost 37 days.

                   

Salisbury and Washington had the best year with the most sales with Roxbury in third place.  Washington again has the most unsold properties on the market for the last 6 years.  It is also interesting to track the progression of both listings and sales in each town to see where the action has been.  The percentage of sold properties to the number of unsold properties on the market is a little low this year.

   

We believe there is no better place within 90 miles of NYC that offers so much as NW CT.  We're blessed with such natural beauty, safe environment, many cultural amenities and interesting friends with whom to share it all.  The demand to live here is solid and constant. We are the lucky ones.

 

On to the details of what happened in our four specialty areas in the last 12 months.

 

Kent had 4 residential sales:

  1. 152 Ore Hill Road is a 3800 sq. ft. colonial with 4 bedrooms built in 1986 on 7.4 acres with long SE views that sold in May for $1,500,000, down from it's original list of $2,395,000 after 569 days on the market.
  2. 109 Mountain Road is a 8038 sq. ft. colonial with 7 bedrooms built on 125 acres set high on a hill with long southern views that sold in May for $3,100,000, down from $3,950,000 after 213 days on the market.
  3. 155 Camp Flats Road is a 4063 sq. ft. contemporary set privately on 45 acres with good southern views in the heart of south Kent. It was purchased by its neighbor without going on the market in January for $1,588,000
  4. 34 Macedonia Road is a 6,251 sq. ft. contemporary with 7 bedrooms built on 17 pastoral acres on the edge of the village that sold in September for $1,900,000 down from it's original list price of $4,950,000 after 811 days on the market.

 

 

Sharon had 7 residential sales:

  1. 230 Mudge Pond Road is a 3740 sq. ft. colonial with 4 bedrooms built in 1992 on 6.28 acres that sold in July for $1,371,000 in 160 days, down from its list of $1,750,000.
  2. 15 West Meadow Road, one of our listings, is a 2400 sq. ft. farm house with 3 bedrooms built in 1996 on 7.51 acres with long western views over protected lands that sold in April for $1,250,000 after just 87 days on the market, down from its list of $1,495,000.
  3. 85 South Main Street is a 7500 sq. ft. contemporary with 5 bedrooms built on a 10.5 acre flag lot with lots of privacy in 2006. It sold in April for $1,600,000 in 444 days, down from its original list of $2,485,000
  4. 174 Amenia Union Road is 171 acres of rolling pasture in the NE corner of Lambert Road and Route 41. Productive farm land that has Mill Brook running through its middle. It sold in April without going on the market for $2,425,000.
  5. 75 Keeler Road is a Trelleborg contemporary with 3 bedrooms in 4118 sq.ft. built in 1991 on 20 acres abutting state forest with Macedonia brook running through it. It also had a pool and a marvelous green house.  It sold in March for $1,205,400, down from it's original price of $2,195,000 and 605 days on the market.
  6. 33 South Main Street is a 6,239 sq. ft. colonial with 4 bedrooms built originally in 1964 on 5,27 acres. Originally on the market for $2,150,000, it became bank owned and sold in February for $1,085,000 after 326 days on the market.
  7. 13 Herb Road is a 3988 sq. ft. contemporary with 4 bedrooms, pool and tennis court built on 5.94 acres in 1974. We sold it this November for $1,300,000 after 415 days on the market, down from its original list of $1,698,000

 

Cornwall had two sales in the over $1M:

  1. 61 Castle Road, this was out listing and our sale. Known as the Cornwall Castle, its main house was 8400 sq. ft. with 8 bedrooms. On the market for years at prices above $5M until Chase Bank took it over and listed it for $1,900,000 with 275 acres.  Un inhabited for years, it needed a lot of restoration. We sold it in 65 days in June for $1,600,000 and are happy to say it is being beautifully restored.
  2. 28 Reed Brook is a 6500 sq. ft. 5 bedroom contemporary built in 2007 on 18 private acres. It sold in September for $2,725,000, down from $3,950,000 after 730 days on the market.

 

In Warren there were 2 sales.

 

  1. 15 Melius Road is a 3004 sq .ft. colonial built in 1759 and now on 3.68 landscaped acres with pool and pool house that sold in March for $1,750,000 down from its original list of $1,495,000 after 94 days on the market.

 

  1. 64 Hopkins Road is a 5100 sq. ft. 3 bedroom contemporary just built in 2018 on 2.2 acres surrounded by Hopkins Vineyards sold in June for $1,575,000, down from its original list price of $2,350,000 after 310 days on the market.

  

If you or your friends would like more information on any of these sales or any listings offered in this price range, please call us.  We have three offices in Kent, Sharon and Cornwall and we listing and selling in those towns for more that 44 years.  We will show you or your friends the entire market, regardless of town or agency.  Should you wish to read this letter online or our letters of the previous year's sales, you can find them at www.bainrealestate.com.  Look for "Neighborhood Sold Stats."  You can also easily search all MLS listings in the NW corner on our website.  We'd love for you to Like and Follow us on Facebook and Instagram.

 

Sincerely

 

David Bain

Chris Garrity and Associates

Toni Soule, Marilyn DeVos, Karen Grimaldi, David Hurlburt, Heidi Kearns, Priscilla and Asher Pavel