About Me

 

 Jared G Randall

Houlihan Lawrence

100 West Putnam Avenue

Greenwich, CT 06830

Cell:    203-273-1034

Office: 203-869-0700 x40250

email: jrandall@HoulihanLawrence.com

 

 

Tuesday
Aug072012

Greenwich, CT Residential Real Estate Analysis: August 3rd
A weekly analysis brought to you by Jared Randall.
16ManorDr   


The recently built, well designed Colonial pictured above is 16 Manor Road, Old Greenwich.  This four bed, three and a half bath, has a nice open floor plan.  It is listed with having 2,676 square feet of living space.  It has a finished basement that is not included in the square footage adding approximately 1,300 more sf.  It was constructed in 2007, giving a newer feel to the home.  The location is great as well.  It is only a few steps away from Binney Park, few minutes from the train, school, and town.  This home sits on a quarter acre, with a nice level yard.  The price is $1.795M, down from the original price of $1.85M and has been on the market for 93 days.

 The end of August had a flurry of action with 13 properties closing in the last four days.  As, we have seen most of the year, most of that activity was in the lower price ranges.  Eleven of the thirteen were under the 3M range.  Even though we out paced July of 2011 numbers we must remember June of 2011 was exceptionally active due to the conveyance tax.  

 The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.

   
                                                             
                                                                           
Properties Sold

sold0803 

I have mentioned that the spike in June of 2011's sold properties were due to a conveyance tax.  Hence, we need to look at June and July together, and possibly even August.  Although we had 80 properties close in July compared to 61 in 2011, we are still off of the two month cumulative of 2011.  We had 170 properties close in June and July of 2012 compared to 206 in the same amount of time last year.  The positive is we are catching up and if sellers are concerned with the taxes that are set to hit in 2013 we could see a spike in the closes at the end of the year.

 

New Listings
newlistings0803 
 
July of this year we had 74 new listings compared to 61 in 2011.  Even though we are catching up in the properties sold, we are seeing more and more inventory added to the market.  Hence, we cannot get through the inventory suggesting it is still a tough market for sellers.  September is usually when the market picks back up. 

   

 

  
Year to Date Sold
ytdsold0803

 
I believe these two charts let us see the true current state of the market.  Most importantly, that each price range constitutes it's own market.  As one can see above 69% of the properties that have sold this year are under $2M.  Yet as you see below the properties priced under $2M only constitute 45% of the homes listed for sale.  This is even more drastic under $1M.  40% of the properties sold are under $1M but only 23% of the current available properties are under $1M.  Conversely, 17% of the properties sold are over $3M, yet is 40% of our current inventory.  In the last week we did see three of the thirteen properties that were sold between the $2M-$3M range, which is 23%.  As you see above that range is typically 14%.
 
 
Year to Date Available
currentavailable0803  

 

In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. In the $0-$500K range we have 7.38 months on average to sell through. $500K-$1M  we have 7.24 months. $1M-$1.5M we have 10.37 months. $1.5M-$2M we have 9.16 months. $2M-$3M we have 13.25 months.  $3M-$4M we have 19.75 months. $4M-$5M we have 30.92 months. $5M-$7.5M we have 25.37 months. $7.5-$10M we have 46.2 months. $10M and above we have 42 months. The two biggest moves, were that the above $10M months to sell dropped five months, but this was do to just one property selling.  The other range that dropped was the $2M-$3M which dropped .75 of one month or around three weeks, which is significant given it was over just a four day period.

Open Houses August 5th
  
 

Below are all of the Greenwich Open Houses. Enjoy your week.

 

 

Address Town List Price Time Broker
157 Putnam Park Greenwich $295K 1-4 PM Prudential
24 Wessels Pl Greenwich $541K 2-4 PM Raveis
27 Bible St Cos Cob $549K 1-4 PM Prudential
80 Laddins Rock Rd Old Greenwich $579K 11-2 PM Prudential
47 Lafayette Pl   #4-I Greenwich $639K 1-4 PM Prudential
60 Valley Rd #A Cos Cob $645K 2-4 PM Raveis
51 Forest Ave Old Greenwich $695K 1-4 PM FF Realty
19 Wescott St Greenwich $779K 1-3 PM Coldwell Bnkr
20 West End Av (Rear) Old Greenwich $950K 2-5 PM Raveis
20 West End Av(Rear) Old Greenwich $950K 2-5 PM Raveis
349 Riversville Rd Greenwich $1.049M 1-4 PM Raveis
86 Lower Cross Rd Greenwich $1.349M 1-4 PM Weichert
19 Pintail Rd Greenwich $1.399M 3-5 PM Prudential
25 Oval Av Riverside $1.595M 2-4 PM Raveis
6 Finney Knoll Ln Riverside $1.85M 1-3 PM Shore & Cntry
9 S End Ct Old Greenwich $1.999M 2-5 PM Raveis
191 North St Greenwich $2.4M 1-3 PM Coldwell Bnkr
39 Shore Rd Old Greenwich $2.895M 2-4 PM Greenwich Fine Prop
39 Willow Rd Riverside $2.95M 2-4 PM Coldwell Bnkr
35 Shore Rd Old Greenwich $2.995M 2-4 PM Greenwich Fine Prop
1 Tyler Court Riverside $3.19M 2-4 PM Weichert
38 Meadowbank Rd Old Greenwich $3.3M 1-3 PM Raveis
623 Steamboat Rd   #A Greenwich $3.495M 2-4 PM Ogilvy
623 Steamboat Rd   #B Greenwich $4.45M 2-4 PM Ogilvy
212 Bedford Rd Greenwich $4.775M 1-3 PM Prudential
 

 

Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage.

 

Jeff's rates can be found at:

 

 http://www.us.hsbc.com/1/2/3/personal/home-loans 

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th

Sunday
Jul292012

Greenwich, CT Residential Real Estate Analysis: July 27th

Greenwich, CT Residential Real Estate Analysis: July 27th
A weekly analysis brought to you by Jared Randall.
126 Parspnage   

The beautiful home pictured above is 126 Parsonage.  I have discussed in previous weeks that I am a fan of this street.  It balances mid-country lot and home size with a proximity to town. This 5,546 s.f. home sits on 1.4 acres.  If you take a look at the link above, you will see the beautiful patio with the outdoor fireplace that opens onto a spacious deck.  It boasts 5 bedrooms and 4.5 baths.  The kitchen is pristine and open.  And also of note, there is a basement yet to be finished-so there's opportunity to add to the value and square footage.  As far as price, the property was listed for sale in February of 2011 for $4.975M and the price steadily dropped until it hit $4.325M in September of 2011, and subsequently was taken off of the market in February of 2012.  It just came back on two weeks ago with a different Listing Broker. It is listed at $4.25M which in my opinion is a good starting point for this property.

As you will be see by looking below we may be seeing a trend of the more expensive markets starting to see some movement.  For a few weeks now, we have seen the higher end properties close.  This week continues the trend, as four of the nineteen properties sold were over $3M or 21%.  Year to date over $3M has only accounted for 16%.  

This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen, and backs up to Eastern Middle School field.  The owner's children could walk to school out of the backyard and never walk along a street.

The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.

   
   
Properties Sold

sold0727 

The I have mentioned that the spike in June of 2011's sold properties were due to a conveyance tax.  Hence, we need to look at June and July together, and possibly even August.  This week we passed last July's sold properties numbers.  We have sold 67 properties month to date where we had sold 61 last year.  Together for June and July we have sold 157 this year, with last year at 181 properties sold.  In the last week we had a strong week selling 18 properties.  My guess is when July ends and we look at June and July of 2011 vs. 2012 we will be about ten percent behind.  A more positive sign than what it was looking like just a week ago.

 

New Listings
newlistings0727 
 
Month to date we have 62 new listings.  July of 2011 there were 61 new listings.  We will obviously outpace that with a few more days left in July.  However, the positive being that we have sold 7.5% more than the new listings month to date.  This is the first month we have seen that trend, it will be interesting to see if it holds.  September is usually when the market picks back up.  Not to mention with the new Affordable Health Care taxes I wonder if people will try to sell their house before the end of the year to save the 3.8% tax.

   

 

  
Year to Date Sold
ytdsold0727

 
I believe these two charts let us see the true current state of the market.  Most importantly, that each price range constitutes it's own market.  As one can see above 69% of the properties that have sold this year are under $2M.  Yet as you see below the properties priced under $2M only constitute 45% of the homes listed for sale.  This is even more drastic under $1M.  40% of the properties sold are under $1M but only 23% of the current available properties are under $1M.  Conversely, 17% of the properties sold are over $3M, yet is 40% of our current inventory.
 
 
Year to Date Available
currentavailable0727  

 

In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. In the $0-$500K range we have 6.92 months on average to sell through. $500K-$1M  we have 7.35 months. $1M-$1.5M we have 10.64 months. $1.5M-$2M we have 9.45 months. $2M-$3M we have 14.1 months.  $3M-$4M we have 20.26 months. $4M-$5M we have 30 months. $5M-$7.5M we have 25.96 months. $7.5-$10M we have 45.69 months. $10M and above we have 47.47 months. One can see that under $2M the inventory would take anywhere from approximately 7 months to 9.45 months.  Yet, over $2M we are looking at 14 to 47.5 months.

Open Houses July 29th
  
 

 Once again, I will be at 65 Lockwood Lane again this week.  There is a house kitty corner at 68 Lockwood Road that has an open house as well.  So, if you see it come by and say hi.  Below are all of the Greenwich Open Houses. Enjoy your week.

 

Address Town List Price Time Broker
1465 E Putnam Av #530 OG $405K 2-4 PM Coldwell
75 Cos Cob Ave #2 CC $429K 1-3 PM Higgins
1465 E Putnam Av #317 OG $459K 2-4 PM Greenwich Fine
9 River Rd #405 CC $469K 1-3 PM Raveis
11 Orchard St CC $599K 1-4 PM Prudential
60 Valley Rd #A CC $645K 2-4 PM Raveis
230 Valley Rd CC $685K 2-4 PM Raveis
51 Forest Ave #156 OG $695K 1-4 PM FF Realty
71 Orchard Pl #B GR $1.075M 1-3 PM Coldwell
25 Griffith Rd RV $1.149M 2-4 PM Raveis
12 Cherry Blossom Ln - Lot 3 GR $1.595M 2-4 PM Coldwell
8 Cherry Blossom Ln Lot 2 GR $1.595M 2-4 PM Coldwell
16 Norton Ln OG $1.595M 2-4 PM Raveis
21 Cat Rock Rd CC $1.649M 1-3 PM Coldwell
68 Lockwood Rd RV $1.729M 1-4 PM Prudential
65 Lockwood Ln RV $1.769M 1-4 PM Prudential
16 Manor Rd OG $1.795M 1-4 PM Prudential
7 Cherry Blossom Ln Lot 5 GR $1.995M 2-4 PM Coldwell
9 S End Ct OG $1.999M 2-5 PM Raveis
106 Porchuck Rd GR $2.199M 2-4 PM Coldwell
284 Riversville Rd GR $2.395M 1-3 PM Raveis
85 Dingletown Rd GR $2.45M 2-4 PM Ogilvy
17 Candlelight Pl GR $2.5M 1-3 PM Prudenital
75 Connecticut Av GR $2.649M 1-4 PM Raveis
30 Sherwood Ave GR $2.75M 1-3 PM Prudential
20 Stoney Ridge Ln RV $2.849M 2-4 PM Shore and Country
39 Shore Rd OG $2.895M 1-3 PM Real Living
1 Tyler Ln RV $3.19M 2-4 PM Weichert
530 North St GR $3.195M 1-4 PM Raveis
25 Windabout Dr GR $3.295M 2-4 PM Coldwell
38 Meadowbank Rd OG $3.3M 1-3 PM Raveis
36 Montgomery Ln GR $3.595M 2-4 PM Summit
3 Cherry Blossom Ln GR $4.99M 2-4 PM Coldwell
504 North St GR $6.85M 1-3 PM Coldwell
 
Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage.

 

Jeff's rates can be found at:

 

 http://www.us.hsbc.com/1/2/3/personal/home-loans 

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th
 
 

Friday
Jul202012

Greenwich, CT Residential Real Estate Analysis: July 20th

Greenwich, CT Residential Real Estate Analysis: July 20th
A weekly analysis brought to you by Jared Randall.
1finney lane  

  

This week I will be discussing 1 Finney Lane in Riverside.  I chose this property as it has a superb location.  It is right off of Riverside Lane, and is listed at $1.795M.  It is a Colonial with four bedrooms and 4.5 baths.  It is listed at 3,181 square feet and is a small lot at .19 of an acre.  I also like the fact that is on a quiet cul-de-sac.  There is a finished lower level, and beautiful cherry wood floors.  Click on the link above to see more pictures.

This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen and is in pristine condition.

In the month of June we passed the 2010 numbers. Due to the Conveyance tax that hit July 1, 2011 we cannot really look at June of 2011 as a fair metric. We can combined June and July of this year and compare that to June and July of last year to give us a true assessment of the market.

The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.

   
   
Properties Sold
 
 

sold 0720 

 

As you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties.  However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  The positive that their have been 49 properties sold so far this month which currently is outpacing July of 2011, albeit not by much. It is looking like we will have more properties sold this month than last year.  However, in analyzing June and July together due to the conveyance tax, it looks like we will be far behind last year's activity.  

New Listings
newlistings0720 
 
In a continuing trend over the last month the new listings are very even with the properties that have been sold.  The positive is that for the first five and half months the new listings outpaced the sold properties.  The negative is that since they are relatively the same we are not eating into the surplus inventory we currently have in Greenwich.

   

 

  
Year to Date Sold
ytdsold0720

 
This chart shows us the breakdown of the properties sold year to date. Last week the 0-1M range is 41% of the properties that have sold, in just a week it has moved up to 44%.  Yet, in the same price range on the available properties the percent dropped from 23% to 22%.  The under 1M price range is getting even more competitive.  Whereas, the 2-3M range dropped two percent and the 3-4 dropped another percent.  This is reflective of the different markets that each price range is currently trading in. The lower price points are more seller's markets than the other price points. Whereas, the more expensive ranges the buyers have the majority of the leverage.
 
 
Year to Date Available
currentavailable0720  

 

In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. In the $0-$500K range we have 5.14 months on average to sell through down from six months. $500K-$1M  we have 6.25 months down from 7 months. $1M-$1.5M we have 8.81 months. $1.5M-$2M we have 12.24 up from 10 months. $2M-$3M we have 16.85 months.  $3M-$4M we have 22.64 months. $4M-$5M we have 36.38 months. $5M-$7.5M we have 29.88 months. $7.5-$10M we have 49.5 months. $10M and above we have 44.32 months.  We are currently seeing the same trends, the under $1.5M is getting even more competitive while the over $1.5M is adding more inventory.

Open Houses July 22nd
  
 

 I will be at 65 Lockwood Lane again this week. Below are all of the Greenwich Open Houses. Enjoy your week.

 

Address Town List Price Time Broker
132 Henry St Greenwich $650K 1-4 PM Weichert
51 Forest Ave #156 Old Greenwich $695K 1-4 PM  
42 Mead Ave Cos Cob $775K 1-3 PM Sotheby's
17 Ronald Ln Cos Cob $979K 1-3 PM Raveis
39 Cross Ln Cos Cob $1.05M 1-3 PM Weichert
71 Orchard Pl #B Greenwich $1.165M 2-4 PM Coldwell Bnkr
37 Ettl Ln Greenwich $1.3M 3-5 PM Sotheby's
274 North St Greenwich $1.345M 1-4 PM Prudential
15 Horseshoe Rd Cos Cob $1.485M 1-3 PM Sotheby's
483 Riversville Rd Greenwich $1.595M 1-4 PM Shore & Cntry
21 Cat Rock Rd Cos Cob $1.649M 2-4 PM Coldwell Bnkr
65 Lockwood Ln Riverside $1.769M 1-4 PM Prudential
16 Manor Rd Old Greenwich $1.796M 1-4 PM Prudential
9 S End Ct Old Greenwich $1.99M 1-4 PM Raveis
3 Oakwood Ln Greenwich $2.195M 1-4 PM Prudential
6 Stanwich Ln Greenwich $2.25M 2-4 PM Coldwell Bnkr
18 Flying Cloud Rd Stamford $2.375M 1-4 PM Prudential
243 Dolphin Cove Quay, St Stamford $2.8M 1-4 PM Prudential
1 Tyler Ct Riverside $3.19M 1-3 PM Weichert
6 Raymond St Old Greenwich $3.295M 2-4 PM Round Hill Prtnrs
242 Dolphin Cove Quay Stamford $3.46M 1-4 PM Prudential
120 Cummings Point Rd,St Stamford $3.995M 1-3 PM Sotheby's
450 North St Greenwich $4.195M 2-4 PM Summit
 
Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage.

 

Jeff's rates can be found at:

 

 http://www.us.hsbc.com/1/2/3/personal/home-loans 

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

  

CT Mortgage Rates

Product

Interest Rates

Annual Percentage Rate

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency  Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 *as of July 15th
 
 

 

Monday
Jul162012

Greenwich, CT Residential Real Estate Analysis: July 13th

Greenwich, CT Residential Real Estate Analysis: July 13th
A weekly analysis brought to you by Jared Randall.
59 Club
 

 

This week I will be discussing 59 Club Road. This is one of the properties that you have to click on the above link to see the pictures.  It is owned by a friend of mine I work with, whose wife just published a book about decorating from yard sales.  As one can see by the pictures it impeccably decorated.  When one decides on buying their next property or house, the most important aspect to think about is location.  59 Club Road screams location, location, location.  It is nestled on one of the most beautiful streets in Riverside.  At the end of Club Road within walking distance is the Riverside Yacht Club.  The house was built in the 1920's with some expansion since then.  It is currently 4,166 square feet but has FAR up to 7,600 square feet.  This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen and is in pristine condition.

 I have received a lot of questions from people in regards to the 3.8% tax from the Healthcare Legislation that goes into effect in 2013.  I believe this article explains it best.

 3.8% Tax to go into Effect 2013

 In the month of June we passed the 2010 numbers. Due to the Conveyance tax that hit July 1, 2011 we cannot really look at June of 2011 as a fair metric. We can combined June and July of this year and compare that to June and July of last year to give us a true assessment of the market.

 Below you will find my analysis of the market, open houses, as well as mortgage information. I am still working on touching it up, but feel free to check it out at www.greenwichrealestateguy.com.  

  The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.

 
Properties Sold
 
 

sold0713 

As you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties. However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  The positive that their have been 33 properties sold so far this month which currently is outpacing July of 2011, it will be interesting to see when we combine June and July where we end up.  

 New Listings

newlistings0713 
 It looks as for the first time this year new listings did not outpace last year's numbers.  As a continual trend from June, it looks like that the sold properties are staying even with the new listings.  In July we have had 35 new listings and 33 sold properties.  This is a good sign as in the first five months the new listings were outpacing the sold by a lot.

   

 

  
Year to Date Sold
ytdsold0713

 This chart shows us the breakdown of the 343 properties sold year to date. As you can see, the 0-1M range is 41% of the properties that have sold. Yet, it is only 23% of the properties that are currently available. This is again reflective of the different markets that each price range is currently trading in. The lower price points are more seller's markets than the other price points. Whereas, the more expensive ranges the buyers have the majority of the leverage.
 
 
Year to Date Available
currentavailable0713  

In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. In the $0-$500K range we have 6.02 months on average to sell through. $500K-$1M  we have 7.82 months. $1M-$1.5M we have 9.55 months. $1.5M-$2M we have 10.4 months. $2M-$3M we have 15.81 months.  $3M-$4M we have 20.22 months. $4M-$5M we have 34.94 months. $5M-$7.5M we have 28.97 months. $7.5-$10M we have 44.93 months. $10M and above we have 41.9 months.  So, in only one week the amount to sell through the $1M-$1.5M inventory dropped two months.  

Open Houses July 15th
  
 

 I will be at 65 Lockwood Lane again this week. Below are all of the Greenwich Open Houses. Enjoy your week.

 

Address Town Price Time Broker
87 Putnam Park #87 Greenwich $397K 2-4 PM Raveis
24 Wessels Pl Greenwich $541K 1-4 PM Raveis
358 Long Ridge Rd Stamford $625K 1-4 PM Prudential
60 Valley Rd #A Cos Cob $645K 2-4 PM Raveis
47 Lafayette Place #41 Greenwich $675K 1-4 PM Prudential
66 Richland Rd #B Greenwich $697K 12-2 PM Coldwell Bnkr
197 Sheephill Rd #C Riverside $699K 2-4 PM Coldwell Bnkr
51 Forest Av #109 Old Greenwich $725K 1-4 PM Coldwell Bnkr
19 Wescott St Greenwich $729K 2-4 PM Coldwell Bnkr
7 Mary Ln Riverside $750K 2-4 PM Raveis
123 Harbor Dr #203 Stamford $795K 1-4 PM Coldwell Bnkr
9 Sinawoy Rd Cos Cob $950K 1-4 PM Prudential
51 Forest Av #36 Old Greenwich $999.5K 2-4 PM Raveis
11 Bayside Terr Riverside $1.065M 1-3 PM Shore & Cntry
23 Mianus View Cos Cob $1.095M 1-4 PM Weichert
73 Weaver St #16 Greenwich $1.095M 2-4 PM Halstead Prop
71 Orchard Pl #B Greenwich $1.165M 2-4 PM Coldwell Bnkr
73 Weaver St #18 Greenwich $1.195M 2-4 PM Raveis
39 Cross Ln Cos Cob $1.199M 12-3 PM Weichert
35 Midbrook Rd Old Greenwich $1.475M 1-4 PM Prudential
130 Woodside Dr Greenwich $1.499M 2-4 PM Sotheby's
21 Cat Rock Rd Cos Cob $1.649M 2-4 PM Coldwell Bnkr
18 Spring St Riverside $1.695M 1-4 PM Prudential
70 Bedford Rd Greenwich $1.7M 1-3 PM Coldwell Bnkr
65 Lockwood Ln Riverside $1.769M 1-4 PM Prudential
16 Manor Rd Greenwich $1.795M 1-4 PM Prudential
11 Londonderry Dr Greenwich $1.795M 2-4 PM Raveis
79 William St Greenwich $1.975M 2-4 PM Coldwell Bnkr
9 S End Ct Old Greenwich $1.999M 2-5 PM Raveis
284 Riversville Rd Greenwich $2.395M 1-3 PM Raveis
42 Will Merry Ln Greenwich $2.49M 1-3 PM Round Hill Prtnr
182 Dolphin Cove Quay Stamford $2.595M 1-4 PM Prudential
243 Dolphin Cove Quay, St Stamford $2.8M 1-4 PM Prudential
196 Dolphin Cove Quay Stamford $2.995M 1-4 PM Prudential
1 Tyler Ln Riverside $3.275M 1-4 PM Weichert
25 Windabout Dr Greenwich $3.295M 2-4 PM Coldwell Bnkr
8 Indian Point Ln Riverside $3.45M 1-4 PM Prudential
242 Dolphin Cove Quay Stamford $3.46M 1-4 PM Prudential
2 Parsonage Rd Greenwich $4.295M 1-3 PM Round Hill Prtnr
585 Round Hill Rd Greenwich $4.495M 1-4 PM Coldwell Bnkr
45 Close Rd Greenwich $5.295M 2-4 PM Prudential
45 Close Rd Greenwich $5.295M 2-4 PM Prudential
2 Conyers Farm Dr Greenwich $6.495M 12-3:30 PM Sotheby's
25 West Way Old Greenwich $7.659M 2-5 PM Raveis
56 Clapboard Ridge Greenwich $9.95M 2-4 PM Ogilvy
 
Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage.

 

Jeff's rates can be found at:

 

 http://www.us.hsbc.com/1/2/3/personal/home-loans 

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

 

CT Mortgage Rates

Product

Interest Rates

APR

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 Updated: Friday June 22, 2012

 

 
 
 
Sunday
Jul082012

Greenwich, Ct Residential Real Estate Analysis: July 6th

Greenwich, CT Residential Real Estate Analysis: July 6th
A weekly analysis brought to you by Jared Randall.
450 North Street
Dear Jared,

 

 

I hope everyone enjoyed their 4th of July. This Sunday I will be doing an open house at 65 Lockwood Lane in Riverside. I believe this is a great value located in a cul de sac within walking distance to schools and train. This could be used as an investment property or a residence.  It has an updated kitchen and is in pristine condition.

 

This week the house that struck me the most was the above house located at 450 North Street and is currently listed at $4,195,000. This is a beautiful Georgian style Colonial new build.  It is on one acre of land. One aspect that I really like is that it has the prestigious North Street address, yet the driveway entrances are on side streets. One, does not have to contend with the North Street traffic getting in and out of the driveway. The location is ideal as it is steps from North Street Elementary, close to town, and not far from the Merritt. At first look my concern was that the house sits so close to North Street, the traffic may be a nuisance. However, the builder did a great job with the frontage wall, giving the feel you are farther from the street. The back yard is sloped downwards.  It has 6 bedrooms and 7.5 baths. There has incredible detail throughout the house. The main floor has a very open feel with high ceilings and a nice flow from room to room. The amenities include a gorgeous kitchen, four fireplaces, a lower level that includes; a game room, a wine cellar, a home theatre, and an in-law suite.

 

In the month of June we passed the 2010 numbers. Due to the Conveyance tax that hit July 1, 2011 we cannot really look at June of 2011 as a fair metric. We can combined June and July of this year and compare that to June and July of last year to give us a true assessment of the market.

 

Below you will find my analysis of the market, open houses, as well as mortgage information. I am still working on touching it up, but feel free to check it out at www.greenwichrealestateguy.com.  

  

The highest compliment I can receive is the referral of someone you know who is looking to buy or sell their home. Call me with their name and number so I can give them the first class service they deserve.
   
Properties Sold
 
 

 

 

As you look at this chart June of 2011 jumps out with a huge spike of 120 sold properties.  However, there was a rush to close properties before the new conveyance tax hit on July 1st of 2011.  In my opinion, we have to look at June and July together to see where the market is currently vs 2011.  The positive being that May and June of this year outpaced May and June of 2010 whereas in the first four months of the year 2010 was busier than 2012.

 

New Listings
 
 
It looks as for the first time this year new listings did not outpace last year's numbers.  We will have to wait for the actual report which is usually ten days from now, but it looks like the unofficial numbers from June put us below last year's totals for new listings. 

   

 

  
Year to Date Sold

 
This chart shows us the breakdown of the 320 properties sold year to date. As you can see, the 0-1M range is 41.5% of the properties that have sold. Yet, it is only 23% of the properties that are currently available. This is again reflective of the different markets that each price range is currently trading in. The lower price points are more seller's markets than the other price points. Whereas, the more expensive ranges the buyers have the majority of the leverage.
 
 
Year to Date Available
  

 

As, we are exactly halfway through the year, I feel it is the right time to illustrate the months on average it would take to sell through the inventory we have. In the $0-$500K range we have 6.36 months on average to sell through. $500K-$1M  we have 7.98 months. $1M-$1.5M we have 11.48 months. $1.5M-$2M we have 10.86 months. $2M-$3M we have 15.27 months.  $3M-$4M we have 21.82 months. $4M-$5M we have 37.33 months. $5M-$7.5M we have 30.92 months. $7.5-$10M we have 57 months. $10M and above we have 40.29 months. Again, illustrating the higher the price range the stronger the leverage for the buyer.

Open Houses July 8th
  
 

 I hope everyone enjoyed their 4th of July. The Greenwich fireworks are on Saturday at Binney Park, and Todd's Point Beach in Old Greenwich.  I hope to see you there. This week there are only two open houses, and I am doing one of them. I am not sure if that is a good sign or a bad sign.  Enjoy your week.

 
Address
Town
Price
Time
Broker
453 East Putnam #4A Greenwich $510K 12-3 pm Prudential
65 Lockwood Lane Riverside $1.769M 1-4 pm Prudential
Mortgage Information

 

The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of HSBC and Iliad Estrada or Ct. Home Mortgage.

 

Jeff's rates can be found at:

 

 http://www.us.hsbc.com/1/2/3/personal/home-loans 

 

Jeff can be reached at 646-372-5181.

 

Rates below courtesy of Iliad Estrada.  She can be reached at 203-637-6202.

 

 

CT Mortgage Rates

Product

Interest Rates

APR

15 YR Fixed Conforming

2.625%

2.863%

30 YR Fixed Conforming

3.375%

3.514%

30 Year Fixed Agency Jumbo

n/a

n/a

30 YR  Fixed Jumbo

3.990%

4.116%

5/1 YR ARM Conforming

2.250%

3.081%

5/1 YR ARM Jumbo

2.250%

3.060%

10/1 YR ARM Jumbo

3.375%

3.453%

 Updated: Friday June 22, 2012