Newtown, CT Real Estate News

By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Real Estate Statistics for Newtown, CT - as of 7/23/09.  We're sorry we've fallen behind in posting about this subject.  It's been four (4) months since we last posted about this subject and our goal is post every couple of months about the real estate market in Newtown.  We'll try to stay on top of it. Thought we'd let you know that Prudential Connecticut Realty's second quarter 2009 report is out.  This report contains an overall view of real estate for the state with statistics broken out by county, town and single family or condo. Because the real estate market is constantly changing, this is a just a snap shot in time for real estate statistics in Newtown, CT as of 7/23/09.  All information is from the Greater Fairfield County Multiple Listing Service (MLS) for the town of Newtown ...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Short Sales in Newtown, CT - as of 7/22/09.  Back in September 2008, we posted a blog titled "Short Sale - What is It?".  We think this is useful information as we frequently explain what a short sale is to both buyers and sellers.  Our intention is to update you every 2 months about the short sale activity in Newtown, CT. The number of possible short sales in Newtown,CT has increased approximately 55% from our last short sale post.   This increase continues the pattern we've seen since September 2008.  As of today, there are 23 (twenty three) actively listed homes that are identified as being a "possible short sale" on the multiple listing service (MLS).  They range in price from $169,900 to $789,900. Please note that of the actively listed short sales: 8 are NEW to this list 1 was REL...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Neighboring Towns of Newtown, CT.  We have blogged about the different sections of Newtown, CT and thought that some of you might want to know a little about the towns that border Newtown. Newtown is the largest town in Fairfield County, CT and as such there are many neighboring towns of Newtown, CT.  The Eastern border is Lake Zoar which is actually a part of the Housatonic River.  On the other side of Lake Zoar is Southbury which is located in New Haven County. To the West is Bethel.  With its cobblestone sidewalks, antique street lamps and quaint storefronts and restaurants, Bethel's downtown is popular with window shoppers andm joggers alike. The newly renovated Bethel Public Library has comfortable chairs to curl up with a good book. P.T. Barnum Square honors the American showman w...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
What Price Ranges are Selling in Newtown, CT - as of 7/15/09.  People are under the impression that absolutely NOTHING is selling right now ANYWHERE.  This is not true.  Homes in the different price ranges sell at different rates.  Some are REALLY moving right now - some are not.  The tool we use to determine what price range is moving and what isn't moving is something called an "absorption rate". What is an absorption rate?  This is a hypothetical estimate of the number of months it would take to sell the inventory of houses on the market.  An absorption rate can be by town, county, state or even a neighborhood.  Obviously, inventory is replenished, so it would not happen in the real world.  The absorption rate is based on sales and current deposit levels.  It is generally broken out ...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Supermarkets in Newtown, CT.  When we first moved from Long Island to Newtown, the previous homeowner told us very proudly that "there is a big "y" in town".  We asked her how much it cost (being from NY - "Y meant YMCA to us).  She looked at us with an incredulous look on her face & said "Cost??"  We, thinking she didn't understand us, replied, "How much does a membership to the "Y" cost?".  Again, she replied, "Cost??"  At that point, we realized that we weren't communicating too well with her and asked "YMCA??"  She started to laugh and told us that the big "y" was a supermarket.  Who knew? Being Realtors, we always point out the local supermarkets in Newtown, CT as we drive around town showing homes to buyers.  There are three now in town and they are: Big Y is located at 6 Queen St...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Walk the Dog is Not a Just a YoYo Trick  So your family has a dog, you live in Newtown, CT and you'd like to take your dog for a walk.  Let Riley, the Real Estate Dog tell you about his favorite places.  Riley should probably have his own blog!  He's always working hard at real estate and when he's not, he likes to go for a walk.  The good thing about a dog walk, is that it's pretty portable and you can do it just about anywhere.  Riley does have his favorite places to walk - some in Newtown and some not. Main Street is Newtown is always a good place to walk.  There are sidewalks on both side of the road, it's a long stretch with a hill and a giant flagpole right in the middle of the road.  Many people walk their dog along Main Street.  It's pretty social as you are likely to run into s...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Mortgage Rates and your Purchasing Power There are many moving parts to purchasing a home - two of them are the purchase price of the home and the mortgage rate.  Mortgage rates change every day, but recently they went from 4.85% to 5.75% and are now back down around 5.25%.  We have had a few first time homebuyers who have only been concerned about "the bargain" price on their purchase.  When we pointed out the variation of the mortgage rate and how it affected their purchasing power, they didn't get it at first.  This got us to thinking ... We're going to post a few tables with lots of numbers on them.  Numbers can be intimidating, so for you non-numbers people - get ready! Here are the constants:  If you were to purchase a $400,000 home and put down 20%, you would be left with an 80% ...
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By Mandy Beckett, e-Pro,SFR
(William Raveis Realty)
OPEN HOUSE - JUNE 27TH FROM 1:00-PM3:00PM   Situated on a wonderful cul-de-sac in Bennett's Bridge Farm Estates, this New England Colonial with charming front porch welcomes you as you approach.  Mature landscaping and stunning stone walls, line the blue stone terraced walkway.  As you enter the classic home, you will find elegance, warmth and style throughout this custom tailored home.  Offering a turned stairwell with sconces, the vaulted foyer is flanked by a study and lovely living room with atrium windows. The living room leads to an incredible game room/recreational room or this room could be a fabulous second home office or music room.  The possibilities are endless.  Further off of the entry hall foyer, is a "banquet sized" dining room with wonderful walls of space and windows a...
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By Mandy Beckett, e-Pro,SFR
(William Raveis Realty)
   Mandy Beckett, Prudential CT Realty Earns REALTOR e-PRO® Certification June 22, 2009 - Mandy Beckett of Prudential CT Realty has successfully completed the REALTOR e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered through the National Association of REALTORS.®The REALTOR e-PROÒ certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools needed to assist consumers in the purchase or sale of a home.With more than 70% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise ...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Prudential Connecticut Realty's Newtown Office will be holding an informative seminar for anyone who would like to know more about foreclosure and short sale properties.  Attorney Frank Lieto of Lieto & Greenberg LLP will discuss short sales and Attorney Larry Riefberg of Reifberg, Smart, Donohue and NaJame, P.C. will talk about foreclosures. Date:  Tuesday, June 30, 2009 Time:  6:00 pm Location:  33 Church Hill Road, Newtown What is a short sale?  Short Sale is a term that we hear quite often these days. A short sale is when there is not enough money in the transaction to satisfy all the obligations of the seller. These obligations can include the payoff of any and all mortgages, any loans collateralized by the property, transfer taxes, legal fees, real estate commissions and any outst...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Prudential Connecticut Realty (PCR) is a very technology forward company and all the Realtors are encouraged to be "up" on technology as PCR readies itself to attract the younger generations:  Gen Y and the Millennials.  Keeping that in mind, Prudential has just released a new mobile application called, "Homes for Sale", which will let users search all local property listings from their iPhone or Blackberry."Homes for Sale," will enable consumers to view detailed home information at the touch of a button. The GPS technology in the mobile phone, where available, locates the user and pulls up addresses and information on property listings in their immediate area. Sales price, square footage, tax information, beds/baths, interior and exterior features, and pictures are all available throug...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Sometimes, You Have to Kiss a Lot of Frogs  OK, so you're trying to find a home to buy and you're going out every weekend.  You search Realtor.com so much, you know the inventory better than your Realtor.  You've memorized the multiple listing service (MLS) numbers of the homes you absolutely love, you know what every home looks like - based on the photos posted on-line and when a home shows up that you are familiar with you, your heart skips a beat ... "is this the one???" You speak with your Realtor every day - some days, you talk with to your Realtor two or five times about homes for sale.  You want to buy a home so badly, that you can focus on nothing else in your life. You've ruled out homes because they don't meet your criteria or the photos aren't great or it's not located in the...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Summer has finally arrived.  And summer = ice cream! There are many places to go for ice cream in the local area.  There are Friendy's restaurants, Carvel Ice Cream, Dr. Mike's in Bethel & Monroe, Haagen-Dazs and Rich Farm Ice Cream in Oxford (which many people say is the best ice cream in the area). In Newtown, there are 3 places you can go to for ice cream: Cold Stone Creamery:   Located at 255 South Main Street (Route 25), this is the "IT" ice cream chain.  Select your ingredients and watch it being mixed together on the cold stone.   Ferris Acres Creamery:  Located at 144 Sugar Street (Route 302), this is located on the Ferris family's farm.  Sit outside at a table or bench & watch the cows while you eat your ice cream.  Ice cream is made on site and specials are available daily.   ...
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By Mandy Beckett, e-Pro,SFR
(William Raveis Realty)
Mandy Beckett | Prudential Connecticut Realty | (203) 733-2872 19 Kent Road, Newtown, CT OPEN HOUSE - June 14th from 1:00pm - 3:00pm 4BR/3.5BA Single Family House offered at $1,100,000 Year Built 1998 Sq Footage 6,118 Bedrooms 4 Bathrooms 3 full, 1 partial Floors 2 Parking 3 Car garage Lot Size 2.91 acres HOA/Maint $0 per month DESCRIPTION Grace and elegance abound in this magnificent residence set atop nearly three acres on a cul de sac in the prestigious Taunton area. This grand home affords over 6,100 square feet of finely appointed living space that caters to luxurious entertaining and comfortable family living. Fine materials such as granite, marble and rich hardwood can be found, along with sophisticated craftsmanship and exquisitely detailed millwork. The home possesses a comman...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Back in September 2008, we posted a blog titled "Short Sale - What is It?".  We think this is useful information as we frequently explain what a short sale is to both buyers and sellers.  Our intention is to update you every 2 months about the short sales activity in Newtown, CT. The number of possible short sales in Newtown has increased 200% from our last short sale post.   This is the largest increase we've seen since we first started posting about this subject.  As of today, there are 15 (fifteen) actively listed homes that are identified as being a "possible short sale" on the multiple listing service (MLS).  They range in price from $169,900 to $729,900. Please note that of the actively listed short sales: 14 are NEW to this list 2 REMAIN from our last post 8 have been REDUCED Of ...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
How Are Property Taxes Determined in Newtown, CT?  OK, this is NOT an exciting subject, but one that we are asked about quite a bit.  Both buyers and sellers ask us about property taxes and how the Town of Newtown determines the amount due for each property. Basically, the tax amount for a property is determined by multiplying the Assessed Value by the Mill Rate - but what does that mean? Assessed Value:  Every 10 years, the Town of Newtown performs a re-evaluation of property values in town.  The town hires an outside appraisal company who actually goes to every property in town.  This company gives a current market value to the property.  70% of this value becomes the Assessed Value for the property. Mill Rate:  The Mill Rate, is the dollar amount charged per thousand dollars of asses...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Two Newtown, CT annual events are upcoming in June 2009: 22nd Annual Lobsterfest:  will be held June 5th and 6th at the Sandy Hook Volunteer Fire Department on Riverside Road, Sandy Hook.  Advance tickets cost $22.00/each and $24.00/each at the door.  This is an event that many town residents attend.  Go early for better parking.   35th Annual Rocking Rooster 5K Run/Walk:  Newtown Park and Recreation will be holding its annual Rocking Rooster Run/Walk on Saturday, June 6th.  Run/Walk begins at 8:30 am and leaves from the Reed Intermediate School.  All proceeds to benefit Newtown Scholarship.  Click here for the registration form.   The Newtown Rooster Rally:  This event will be held on Saturday, June 13th, from 11:30 am to 2:00 pm on Main Street.  The purpose is to celebrate Newtown.  C...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Newtown, CT Golf Courses and Parks.  For a small town, Newtown offers the golf enthusiast two private golf courses: Rock Ridge Country Club - is a full-service club with a 9 hole golf course with separate tee areas when playing 18 holes, Newtown Country Club - has a 9 hole golf course, Grill Room and private Dining Room for member parties. The surrounding towns have golf courses with many residents playing at Richter Park in Danbury.  Richter Park is a Municipal 18 hole course designated as one of America's top 25 public courses.  Rates vary, but are reasonable. The Newtown Park and Recreation Department runs many programs in Newtown including the town parks.  Newtown's town parks are: Dickenson Park - Open to Newtown Residents only.  Open from 9 am to Sundown.  Dickinson Park has (5) t...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
Recently, we've had a few homeowners ask if now is a good time to move up into a larger home.  Our answer is a resounding "YES!" and here's why: House prices in Newtown have come down a total of 15.11% in 2007 and 2008. Mortgage rates are still at historically low rates Many sellers need to get their homes sold and there are definately "deals" out there There are short sales available for sale, as well as pre-foreclosure and foreclosure properties. Contrary to what you hear on the news, people CAN get mortgages and homes are beginning to sell again. If you currently have equity in your home, great credit and have outgrown your exiting your home, you should definitely consider moving up to a larger home. Financial experts are speculating that when the housing market recovers, home values...
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By The Ward Team, Realtors, ABR
(Coldwell Banker Residential Brokerage)
People ask us about mortgage rates all the time.  We thought that we would provide you with this information.  Keep in mind that rates have many variables to them and that they fluctuate constantly. This information if courtesy of Dan Ianniello of Connecticut Home Mortgage.  Dan is a CMPS which means that he is a Certified Mortgage Planning Specialist.    With Points Without Points 30 year fixed 4.375 with 2 points 4.875 with 0 points 15 year fixed 4.125 with 2 points 4.625 with 0 points 7/1 Arm 4.125 with 2 points 5.25 with 0 points 5/1 Arm 3.75 with 2 points  4.75 with 0 points FHA 30 year fixed 4.875 with 2 points  5.5 with 0 points CHFA 5.0 with 1 point   30 year fixed Jumbo 5.25 with 2 points  5.625 with 0 points  15 year fixed Jumbo 4.625 with 2 points  5.0 with 0 points These rat...
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