Bain Real Estate - Market Update

January  2018

Dear Neighbor,

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Happy New Year 2018! Many surprises seem to be in store for us if the weather is any indication with its variances from below freezing to almost April showers and back again to the cold. Our real estate market has similar stops and starts, but it does seem to be warming up again. Currently we have fewer listings but more buyers on the search. This is not the time of year for new listings that usually happens later in the spring.

Reference is often made in my letters to Cornwall Town Appraisals and Assessments.  There is a 30% spread between these figures. Recently we are seeing more sales closer to the appraised values and even a few above!

Last year we had 6 sal...

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Mid cornwall 2017 December

Mid Cornwall 2017 December Market Report.

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Dear Neighbor,

It has been a long, warmer fall than usual.  The colors were late and muted except when near wetlands where their brilliance was unmistakable.  And now winter arrives with its harsh beauty.  Meanwhile the beat of real estate continues.

Last fall, we reported 14 sales.  This fall, we have 10 sales to report; both homes and land.  This area of Cornwall is always one of the most active.  In the report below I have compared the sales prices to the town appraisals.  While these appraisals are not reliable to establish individual current market value, in Cornwall they are remarkably close and provide an interesting check on the market.

275 Dibble Hill Road is a most unusual architect designed home designed by its late owner, Henry dePaolo.  It is sited above a brook on a hillside and its 7 rooms are on multilevel.    It includes 2 bedrooms, 4 bathrooms, living room, studio and office spaces all with views of an interesting sort.  It was only on the market for 35 days!  Listed at $650,000 and closed at $635,000 - just slightly below the town's appraised value of $638,300.

A 7 acre lot has been sold to an abutting neighbor for $72,500 - below appraised value.  An excellent value for the buyers who are adding guest quarters to their property at 198 Dibble Hill.

109 Dibble Hill Road combined an antique structure with a 2011 new construction of a 7 room house of 4428 square feet.  Spacious, propane heat, central air, 4 bedrooms with 4 baths en suite, plus 1 half bath.  In 2015, it was listed at $1,195,000, reduced to $949,000.  Reduced again to $895,000 and sold at $875,000.  Again, below the town appraised value of $909,500.

77 Pierce Lane is a contemporary home on over 5 acres with a heated 3 car garage with space above just waiting to be finished into guest quarters or studio space.  The house itself has a great wraparound deck, fireplace in the living room and 2 bedrooms on the upper level.  Originally listed at $515,000, it closed at $435,000- just below the town appraised value of $444,700.

24 Town Street South is a 1940's stone cottage on over 18 acres with level lawns surrounding the house.  The living room features a cathedral ceiling, wood burning fireplace and opens to a back patio with pastoral views.  First floor master with adjacent bath,  2 additional bedrooms on the second floor with a bath between them.  It started at over four years ago in the 7's and was last listed at $544,000 and closed at $470,000, well below the town appraised value of $540,000.

  54 Sharon Goshen Turnpike is an 1800's cottage on 9.74 acres with a large barn.   The house has 7 rooms, 3 fireplaces, 3 bedrooms and 1 bath- all in need of updating.  It was listed for years starting at $595,000.  It was reduced to $199,000 and closed at $168.000.  Another sale below appraised value of $224,500.

A 16.57 acres on the north side of Sharon Goshen Turnpike just after Route 125 branches off to the village, is a wooded lot with a brook and a hillside with some stone walls, large enough to be subdivided with several suitable building sites was listed at $149,000 and closed at $120,000.  Rick Meehan of our Cornwall office sold this property. 

142 Sharon Goshen Turnpike is a 71 acre hillside lot with 2 houses and great views.  It was originally listed at $1,150,000 in 2014.  Reduced to $995,000 in 2015 and closed in November 2016 for $782,500, which is above the town appraised value of $763,300.  The main house is 10 rooms; 4 bedrooms with 3 full and 5 partial bathrooms, an indoor exercise pool and a garage for 2 cars.  The guest house has one level with 2 bedrooms.

233 Sharon Goshen Turnpike is up a long winding driveway.  This contemporary 8 room house features 4 bedrooms which are located on a 3 levels.  The lower level features a walk out to lovely landscaped grounds.  It is a short walk to the heated pool.  Quality construction throughout the house and grounds.  It sold in less than one year on market.  Listed at $618,000 and sold at $580,000, just shy of the appraised value of $585,300.

11 Hart Hill Road was a transfer within a family of a house on 23 acres valued by the town at $205,400 and sold at $258,000, well above the appraised value.

David Bain has a wooded lot on Cream Hill Road of 9.6 acres reduced to $105,000, with 1500 feet of road frontage.   It will require a curving drive up to a lovely view site for your new home.  This is an outstanding value, a great place for a home within walking distance to our Cornwall Consolidate School.

We hope you'll stop by for a visit.  Give us a call with your inquires or needs and we'll be delighted to assist you.  Perley's Farmhouse Café is now open next door and we heartily recommend it to you. 

Respectfully Yours,

Priscilla Pavel

And our Cornwall Crew- Heidi Kearns, Dave Hurlburt, Rick Meehan, Asher Pavel

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

Bain Real Estate West Cornwall 2017 December Market Report.

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Dear Neighbor,

In the last 12 months there have been 55 residential sales in Sharon compared to 48 the previous 12 months.  We have been averaging 50 residential house sales in the last 3 years revealing a trend that is now back to pre-2008 levels.  Presently there are 65 house listings for sale in Sharon and that is 10 more than the previous year's offerings.  The fourth quarter of 2017 has been spotty with 16 sales and 6 pending sales but compared with 4^th quarter 2016 -18 sales-it still trending in the positive direction.

Here are the average statistics for the last two years sales:

2015-2016 Sales: Closed (48)

2016-2017 Sales: Closed (55)

We seem to have reached a more balanced supply and demand which has now evolved into a more normalized market.  While it is still imperative to list your home at an attractive price, there are now more buyers interested in owning a home here in Sharon. Also encouraging is the fact that there are 2 land sales in contract presently and last year saw 5 land sales. 

Here is what has transpired in the West Cornwall Road area this past year:

9 Birch Lane

This privately sited Contemporary Cape offers a rural retreat. Large windows invite the natural light inside while a wrap around deck offers ample room to be outside. Close to State Forest ensure the privacy. There are 3 bedrooms, 2 full baths in this 1400 sq. ft. home and though only built in 2000 the house has been updated including a new bathroom with a jet tub, new kitchen, wood flooring and recessed lighting. The lower level has the potential of additional living space. The 4 acres are level with some partly cleared woods. This home had been on and off the market for over 3 years starting at $427,000.  Final asking price was $329,000 with a sale at $309,000.

201 West Cornwall Road

Charming 1900's cottage with 1940 sq. ft. and spectacular views over the Housatonic River Valley.  The open floor plan and large widows take full advantage of the views. The library has the original stone fireplace and fir flooring. Second floor balcony wraps around the interior of the house and the cathedral ceiling at the center. There are 4 bedrooms and 2 full baths. An exterior deck wraps around the house and there is a 2 car detached garage. Set on 3 acres that slopes to the east to maintain the views.  Listed for $330,000 and sold for $320,000.

209 West Cornwall Road

Another country Cottage sited next to a babbling brook with seasonal views and complete privacy offers 2 bedrooms and one bath.  There is a living room and dining room open floor plan with a native stone fireplace, wood floors and paneling. Built in the 1960's this house offers 1200 sq. ft. of character with an updated kitchen. There is also a large 3 season porch with access to stone patio overlooking mature gardens and trees. It was listed for 466 days and sold for $297,500 after a number of price reductions.

West Cornwall Road

I sold this large private parcel with the building site set well off the road. Driveway roughed in to the building site that is cleared and offers long and pretty views to the south-east.  The 26 acre property abuts larger parcels as well as the State Forest. It was on the market for nearly two years before closing for $195,000.

And here is what we have for sale:

240 West Cornwall Road

This charming early 1800's antique cottage is livable with plenty of ways to add your own personal touches to this simple 1037 sq. ft. home.  There are 2 bedrooms and 1 bathroom, antique floor boards with nice patina.  Set on 2 acres of land it is listed for $159,000.

All our letters are archived on: www.bainrealestate.com under "Neighborhood Sold Stats" on the home page.  Every house for sale in Sharon and surrounding towns in the MLS system is on our website. We include videos on our site as well to improve and sharpen the marketing of homes.  Video is the medium our customers desire so we are on the cutting edge and the only ones using them in the area.  If you have any questions, give us a call and we'll let you know about properties in the neighborhood!  And to you, friends and family have a wonderful holiday season!

Respectfully,

Chris Garrity

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

 Bain Real Estate Cornwall Village 2017 December Market Report

PLEASE CLICK HERE TO SEE THE MAP

We are in the midst of the holidays, following a lovely Fall season. Winter has arrived in a

friendly, frosty way. The Mohawk Trails are covered with snow and ski season is underway!

Last year at this time we reported 7 sales with 43 houses for sale. This year we are reporting 5

sales but only 29 houses currently for sale in Cornwall. The market has gotten a bit more restrictive with fewer homes being offered.  This constriction, we predict, will only help to tighten values in the next few years.

While many of our residential sales in the recent past have sold below the Cornwall Town...

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Dear Neighbor,

Please click here to see the map.

In the last 12 months there have been 55 residential sales in Sharon compared to 48 the previous 12 months.  We have been averaging 50 residential house sales in the last 3 years revealing a trend that is now back to pre-2008 levels.  Presently there are 65 house listings for sale in Sharon and that is 10 more than the previous year's offerings.  The fourth quarter of 2017 has been spotty with 16 sales and 6 pending sales but compared with 4^th quarter 2016 -18 sales-it still trending in the positive direction.

Here are the average statistics for the last two years sales.

2015-2016 Sales: Closed (48)

2016-2017 Sales: Closed (55)

We seem to have reached a more balanced supply and demand which has now evolved into a more normalized market.  While it is still imperative to list your home at an attractive price, there are now more buyers interested in owning a home here in Sharon. Also encouraging is the fact that there are 2 land sales in contract presently and last year saw 5 land sales. 

Here is what has transpired in the White Hollow/Calkinstown area this past year.

Below is one of our new exciting listings in the neighborhood. There are a few other properties listed in the neighborhood- ask us about them!

240 Gay Street

4 bed/2.5 bath 1800's Colonial style

with 2890 sq. ft. on 2.02 acres of level open land,

fireplaces/barn/studio completely renovated

List-   $ 995,000-- See the Video on our site!

All our letters are archived on: www.bainrealestate.com under "Neighborhood Sold Stats" on the home page.  Every house for sale in Sharon and surrounding towns in the MLS system is on our website. We include videos on our site as well to improve and sharpen the marketing of homes.  Video is the medium our customers desire so we are on the cutting edge and the only ones using them in the area.  If you have any questions, give us a call and we'll let you know about properties in the neighborhood!  And to you, friends and family have a wonderful Thanksgiving! 

Respectfully,

Chris Garrity

David Bain and the Sharon Office

Jennifer Luning, Michele Pastre, Joanie Yahn, and David Almquist

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