Greenwich CT, Residential Real Estate Analysis and Blog: November 16th

Greenwich, CT Residential Real Estate Analysis: November 16th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Dear Jared, The above Colonial is located at 82 Glenville Road in Greenwich. This house was built in 2002, is listed as having 4,999 s.f. with four bedrooms, three full baths, and two half baths, sitting on 1.25 acres. Glenville Road is a busy street, but I liked how they put a stone wall in the front so you don't see the traffic, giving the home a secluded feel.  The backyard is level and overlooks a small lake.   What struck me the most was how well the inside of the house showed.  The rooms are nicely proportioned with a great flow.  The concern here would be the busy street, but I feel the price and current state of the house outweigh the busy street.  This well maintained home is listed at $2.495M.  It has been lowered from $3.875M when it was first put on the market in March of 2011. In the past week we have seen eight properties sold and sixteen new listings.  Continuing the trend of the inventory growing.  Scroll down for more detailed statistics regarding the market. As always, if you have a house in mind you would like to see, please do not hesitate to call me.   I would like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well. Happy Thanksgiving.  I hope you have the opportunity to relax and spend the holiday with the ones you love. Please let me know if you would like me to provide customized information or statistics for you based on your criteria. **The information on the featured property and all statistical information is from the Greenwich MLS. **All opinions garnered from the statistics are my own

Properties Sold   I believe these two graphs sum up the market perfectly.  So far in November we have had 21 properties sold and 30 new properties listed on the Greenwich MLS. If one is just looking at sold properties over the last few years they will continue to see that our numbers are outpacing the last two years.  However, when you look below you see that the new properties are also outpacing prior years. You will see above that November started off the same as October ended with the New Listings out pacing the properties that have sold.   New Listings The 31 new properties is trending higher than we have seen in past years.  For example last year in November we had 52 new listings. As you can see by both charts above we are seeing the amount of sold properties increase.  However, we continually see the new listings increase as well.  Hence, we are not eating into the excess inventory even though the sold properties are increasing.    Year to Date Sold The percentages stayed the same this week.  Which is no surprise as we are late in the year. Year to Date Available    Again, no changes on this chart either. 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.  We are currently 46 weeks through the year. In the $0-$500K range we have 8 months on average to sell through. $500K-$1M  we have 5.92 months.  In the $1M-$1.5M we have 10.92 months. $1.5M-$2M we have 9.37 months.  $2M-$3M we have 12.67 months.  $3M-$4M we have 18.29, $4M-$5M we have 21.86 (drop of almost two months). $5M-$7.5M we have 23.45 months. $7.5-$10M we have 40.3 months (gain of two and half months).  $10M and above we have 35.14 months (drop of two months).     Open Houses November 18th      Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful Sunday, so enjoy.  The first four on the list are for rent. Address Town List Price Time Broker 115 River Road #10 Cos Cob $4.1K 1-4 PM Prudential 29 Ridge Street Greenwich $7.3K 1-3 PM Shore & Cntry 127 Havemeyer Place Greenwich $11K 1-4 PM Raveis 45 Close Road Greenwich $12.5K 1-4 PM Prudential 2 Cary Road Riverside $475K 2-4 PM Prudential 51 Old Kings Hwy #8 Old Greenwich $500K 2-4 PM Coldwell Bnkr 4 Caroline Place Greenwich $599K 12-3 PM Raveis 37 Sheephill Road #16 Riverside $679K 1-4 PM Meg Sadi 3 Connecticut Avenue Greenwich $695K 1-4 PM Prudential 98 Putnam Park #98 Greenwich $695K 1-4 PM Raveis 133 Lake Avenue Greenwich $749K 1-4 PM Prudential 115 River Road #10 Cos Cob $775K 1-4 PM Prudential 47 Lafayette Place #1E Greenwich $829K 2-4 PM Coldwell Bnkr 25 Griffith Road Riverside $999K 2-4 PM Raveis 21 Mallard Drive Greenwich $1.095M 1-3 PM Coldwell Bnkr 16 Norton Lane Old Greenwich $1.45M 1-4 PM Raveis 16 Norton Lane Old Greenwich $1.45M 1-4 PM Raveis 29 Ridge Street Greenwich $1.65M 1-3 PM Shore & Cntry 142 Pecksland Road Greenwich $1.695M 1-3 PM Prudential 318 Valley Road Cos Cob $1.795M 2-4 PM Coldwell Bnkr 320 Valley Road Cos Cob $1.795M 2-4 PM Coldwell Bnkr 11 Londonderry Drive Greenwich $1.795M 1-3 PM Raveis 127 Havemeyer Place Greenwich $1.797M 1-4 PM Raveis 25 Midwood Drive Greenwich $2.195M 1-4 PM Edwards & Assoc 23 Brown House Road Old Greenwich $2.395M 1-4 PM Grnwich Blue Chip Prop 35 Dunwoodie Place Greenwich $2.495M 2-4 PM Raveis 11 Grimes Road Old Greenwich $2.495M 2-4 PM Coldwell Bnkr 11 Park Avenue Old Greenwich $2.495M 1-4 PM Prudential 5 Dawn Harbor Lane Riverside $2.7M 2-4 PM Coldwell Bnkr 530 North Street Greenwich $2.995M 1-4 PM Raveis 76 Cat Rock Road Cos Cob $3.295M 1-4 PM Coldwell Bnkr 24 Marks Road Riverside $3.395M 2-4 PM Sotheby's 44 Winthrop Drive Riverside $4.195M 1-4 PM Prudential 585 Round Hill Road Greenwich $4.495M 2-4 PM Coldwell Bnkr 45 Close Road Greenwich $4.999M 1-4 PM Prudential 500 Lake Avenue Greenwich $8.9M 2-4 PM Sotheby's Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. 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 2.375% 2.608% 30 YR Fixed Conforming 3.000% 3.133% 30 Year Fixed Agency Jumbo n/a n/a 30 YR Fixed Jumbo 3.625% 3.746% 5/1 YR ARM Conforming 2.100% 2.944% 5/1 YR ARM Jumbo 2.250% 2.975% 10/1 YR ARM Jumbo 3.000% 3.171% Updated: Monday November 5, 2012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 11/09/12

Greenwich, CT Residential Real Estate Analysis: November 9th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

First and foremost I hope everyone is safe after the Hurricane and Northeaster. The above Shore Colonial is located at 44 Winthrop Drive in Riverside.  This brand new build sits on .4 of an acre is listed as a 5 bedroom, five bath and two half baths, with 7,359 s.f.   When touring this house I was struck with the beautiful dark brown wood floors, the impressive fire places, and the open space.  Winthrop is a cul de sac in a great neighborhood.  The listing price is $4,195,000. In the last two weeks, we continue to see the same trend.  We had fifteen new listings and ten properties that  sold.  The surprising aspect about the numbers over the last two weeks, is the amount of highly priced properties closing.  In the last two weeks seven of the ten properties that sold were over $2M.  Four of those over $5M and two of those over $10M. Several weeks ago I mentioned that we may see a flurry in the higher priced properties before the end of the year to save the 3.6% transfer tax that begins January 2013.  This could be the start of that movement.  As always, if you have a house in mind you would like to see, please do not hesitate to call me.  I would also like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market at www.greenwichstreets.com.  I have updated the mortgage information on the bottom of the newsletter as well. Please let me know if you would like me to provide customized information or statistics for you based on your criteria.  **The information on the featured property and all statistical information is from the Greenwich MLS.  **All opinions garnered from the statistics are my own

Properties Sold   I believe these two graphs sum up the market perfectly.  If one is just looking at sold properties over the last few years they will continue to see that our numbers are outpacing the last two years.  However, when you look below you see that the new properties are also outpacing prior years. You will see above that November started off the same as October ended with the New Listings out pacing the properties that have sold. New Listings As you can see by both charts above we are seeing the amount of sold properties increase.  However, we continually see the new listings increase as well.  Hence, we are not eating into the excess inventory even though the sold properties are increasing.    Year to Date Sold As stated above with the higher priced properties trading we saw a one percentage in flux in the $2M-$3M range and the $5-$7.5M ranges.  Otherwise, all stayed the same. Year to Date Available    The only change in the above chart was the $500K to $1M range dropping one percent. 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.  We are currently 45 weeks through the year. In the $0-$500K range we have 8 months on average to sell through. $500K-$1M  we have 5.92 months.  In the $1M-$1.5M we have 10.92 months. $1.5M-$2M we have 9.37 months.  $2M-$3M we have 12.67 months.  $3M-$4M we have 18.29, $4M-$5M we have 21.86 (drop of almost two months). $5M-$7.5M we have 23.45 months. $7.5-$10M we have 40.3 months (gain of two and half months).  $10M and above we have 35.14 months (drop of two months).    Open Houses November 11th      Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful Sunday, so enjoy.  The first three on the list are for rent. Address Town List Price Time Broker 115 River Road #10 Cos Cob $4.1K 1-4 PM Prudential 48 Arcadia Road Old Greenwich $11.5K 2-4 PM Coldwell Bnkr 45 Close Road Greenwich $12.5K 1-4 PM Prudential 4 Caroline Place Greenwich $549K 12-3 PM Raveis 47 Lafayette Place #4-I Greenwich $575K 11-1:30 PM Prudential 1 Douglas Drive Greenwich $649K 1-4 PM Prudential 11 River Road #122 Cos Cob $699K 2-4 PM Grnw Fine Prop 133 Lake Avenue Greenwich $749K 1-4 PM Prudential 115 River Road #10 Cos Cob $775K 1-4 PM Prudential 9 Sinawoy Road Greenwich $950K 1-4 PM Prudential 5 Arnold Street Old Greenwich $1.089M 1-4 PM Prudential 21 Ridge Road Cos Cob $1.195M 1-3 PM Prudential 36 Forest Avenue Old Greenwich $1.695M 2-4 PM Grnw Fine Prop 29 Hunting Ridge Road Greenwich $1.95M 2-4 PM Grnw Fine Prop 112 Taconic Road Greenwich $1.995M 1-4 PM Prudential 18 Ravenglass Drive Stamford $1.995M 1-4 PM Prudential 48 Arcadia Road Old Greenwich $2.479M 2-4 PM Coldwell Bnkr 11 Park Avenue Old Greenwich $2.495M 1-4 PM Prudential 18 Welwyn Road Riverside $2.55M 2-4 PM Prudential 39 Shore Road Old Greenwich $2.695M 2-4 PM Grnw Fine Prop 35 Shore Road Old Greenwich $2.85M 2-4 PM Grnw Fine Prop 76 Cat Rock Road Cos Cob $3.295M 2-4 PM Coldwell Bnkr 45 Close Road Greenwich $4.999M 1-4 PM Prudential 487 North Street Greenwich $5.495M 2-4 PM Coldwell Bnkr 2 Conyers Farm Drive Greenwich $5.895M 12-2 PM Sotheby's Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage.  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 2.375% 2.608% 30 YR Fixed Conforming 3.000% 3.133% 30 Year Fixed Agency Jumbo n/a n/a 30 YR Fixed Jumbo 3.625% 3.746% 5/1 YR ARM Conforming 2.100% 2.944% 5/1 YR ARM Jumbo 2.250% 2.975% 10/1 YR ARM Jumbo 3.000% 3.171% Updated: Monday November 5, 2012

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 10/26/12

Greenwich, CT Residential Real Estate Analysis: October 26th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

Last week I featured 21 Ridge Road in Cos Cob.  It had been on the market for only four days, and is already in AOCTS (Accepted Offer Continue to Show) status.   The above outside fireplace and patio is attached to 180 North Street.  It is noted in MLS that the Normandy style house was built in 2008 but celebrity builder Mariani for a friend of his.  The house is on the lower portion of North Street close to town.  "...clapboard and stone house has rare charm.  Superb architectural details include 6 part mouldings  throughout the main floor, and coffered ceilings on both floors.  Ceilings with heights of 11-13 feet, give this house incredible open  volume.  The master suite is enormous, with 2 fully outfitted walk-in  closets.  There are four additional bedrooms (two are master size),  plus a large first floor guest suite.  This home is located 1 mile  from the top of Greenwich Avenue. Approved pool site."  It is listed as 6,346 s.f. and sits on 1.18 acres of land.  In my opinion approximately half of the land was wetlands, however the house sits back on the lot and has a nice level yard.  There is also a gate in the back of the fence so if you have small children you can take them for a walk on Martin Dale, which is a lovely cul de sac.  When talking to the Listing Realtors of the home, I was told many times they are "very motivated" to sell.  Hence, I believe one can get the house for a great price. Another week, and we continue to see more properties coming on than are being sold.  Last week there were 23 new properties listed on the Greenwich MLS, with only 12 properties sold.  Even though some pockets in the market may move like the above mentioned Ridge Road, the market cannot improve drastically until the properties coming off of the market outnumber the properties coming on in my opinion.  This weekend is supposed to be beautiful out and with the colors of the leaves changing, it will be a great day for touring open houses.  As always, if you have a house in mind you would like to see, please do not hesitate to call me.  I would also like to thank Mark Pruner for mentioning me in the Greenwich Patch.  Mark also does his own synopsis of the Greenwich Market atwww.greenwichstreets.com.  Please let me know if you would like me to provide customized information or statistics for you based on your criteria.  **The information on the featured property and all statistical information is from the Greenwich MLS. **All opinions garnered from the statistics are my own

Properties Sold   I believe these two graphs sum up the market perfectly.  If one is just looking at sold properties over the last few years they will continue to see that our numbers are outpacing the last two years.  However, when you look below you see that the new properties are also outpacing prior years.  My opinion is that this is the start of positive momentum, but the market may not still be as strong as others believe. New Listings We have had 23 new listings so far this week, which puts us up to 81 for the month.  This puts us over the new listings in October of 2010 and 2011.    Year to Date Sold All categories stayed the same in regards to percentages. Year to Date Available    The $1M-$1.5M dropped to 12% from 13% while the $2M-$3M grew from 15% to 16% of the available properties currently. 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.  We are currently 43 weeks through the year. In the $0-$500K range we have 7.81 months on average to sell through. $500K-$1M  we have 6.29 months.  In the $1M-$1.5M we have 10.95 months. $1.5M-$2M we have 9.55 months (growth of two weeks).  $2M-$3M we have 12.64 months (growth of two weeks).  $3M-$4M we have 18.87 (growth of two weeks) $4M-$5M we have 23.15 (drop of a month). $5M-$7.5M we have 23.66 months. $7.5-$10M we have 37.48 months (gain of two months).  $10M and above we have 37.21 months (drop of three months).     Open Houses October 28th      Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful weekend, so enjoy.  The first six on the list are for rent. Address Town List Price Time Broker 347 Riversville Rd Greenwich $5.8K 1-4 PM Raveis 21 Mallard Dr Greenwich $6K 1-5 PM Coldwell Bnkr 8 Fox Hollow Ln Cos Cob $7.9K 2-4 PM Coldwell Bnkr 40 Lockwood Ave Old Greenwich $8K 1-4 PM Raveis 523 E Putnam Ave #1B Cos Cob $9.75K 2-4 PM Prudential 1361 King St Greenwich $12.5K 1-4 PM Raveis 184 Peck Ave #2 Greenwich $439K 2-4 PM Coldwell Bnkr 47 Lafayette Pl #4-I Greenwich $599K 1-4 PM Prudential 1 Douglas Dr Greenwich $649K 1-4 PM Prudential 32 Heusted Dr Old Greenwich $739K 1-3 PM Sotheby's 17 Harold St Cos Cob $775K 1-3 PM Raveis 27 Orchard St Cos Cob $875K 1-3 PM Coldwell Bnkr 21 Mallard Dr Greenwich $1.199M 1-5 PM Coldwell Bnkr 86 Lower Cross Rd Greenwich $1.249M 1-4 PM Weichert 116 Lockwood Rd Riverside $1.275M 2-4 PM Raveis 347 Riversville Rd Greenwich $1.449M 1-4 PM Raveis 90 Buckfield Ln Greenwich $1.495M 1-4 PM Prudential 16 Norton Ln Old Greenwich $1.495M 1-4 PM Raveis 631 Long Ridge Rd #12 Stamford $1.495M 1-4 PM Prudential 8 Fox Hollow Ln Cos Cob $1.499M 2-4 PM Coldwell Bnkr 127 Havemeyer Pl Greenwich $1.797M 1-4 PM Raveis 18 Ravenglass Dr Stamford $1.995M 1-4 PM Prudential 35 Dunwoodie Pl Greenwich $2.495M 2-4 PM Raveis 523 E Putnam Ave #1B Cos Cob $2.85M 2-4 PM Prudential 1361 King St Greenwich $2.85M 1-4 PM Raveis 530 North St Greenwich $2.995M 1-4 PM Raveis 76 Cat Rock Rd Cos Cob $3.295M 1-4 PM Coldwell Bnkr 329 Shore Rd Greenwich $3.495M 1-3 PM Sotheby's 44 Upper Cross Rd Greenwich $4.995M 2-4 PM Coldwell Bnkr 487 North St Greenwich $5.495M 2-4 PM Coldwell Bnkr 2 Conyers Farm Dr Greenwich $5.895M 1-3 PM Sotheby's 44 Upper Cross Rd & Lot 35B Greenwich $8.499M 2-4 PM Coldwell Bnkr Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. 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

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 10/19/12

Greenwich, CT Residential Real Estate Analysis: October 19th A weekly analysis brought to you by Greenwich Real Estate Guy. www.greenwichrealestateguy.com

The above beautifully updated home is located at 21 Ridge Road in Cos Cob.  It has been on the market for four days.  This property is located within walking distance to the Elementary, Middle, and High School.  The house is sitting on .25 of an acre and contains three bedrooms along with two baths.  It is listed as 2,174 square feet and is for sale at $1.195M.  This is a turn key home ready for someone to move in.  It is listed as three bedrooms, with two upstairs and one on the main floor.  The current owners are using the bottom bedroom as an office/study.  The renovations and updates are what make this house great in my opinion. I alos liked the great landscaping. We are continually seeing more properties come on to the market than are being sold.  For example last week, we had twenty nine new listings.  Yet, only fourteen properties closed.  Now, realize that the closed properties typically take thirty to sixty days to meet contingencies and go through contracts.  So, a more up to date barometer would be AOCTS (Accepted Offer Continue to Show). We only had eleven of those last week, much less than the twenty nine new properties.  Hence, although our sold numbers are slowly moving up from years past, my personal opinion is the market will not start to show improvement until the solds, or AOCTS outpace the new listings. This weekend is supposed to be beautiful out and with the colors of the leaves changing, it will be a great day for touring open houses.  As always, if you have a house in mind you would like to see, please do not hesitate to call.  I would also like to thank Mark Pruner for mentioning me in the Greenwich Patch.   Please let me know if you would like me to provide customized information or statistics for you based on your criteria.  **The information on the featured property and all statistical information is from the Greenwich MLS.  **All opinions garnered from the statistics are my own

Properties Sold  We have passed 2011 sold numbers for October.  However, we are seeing the same trend, even with the 14 sold last week, there were 29 new listings.  New Listings We have had 29 new listings so far this month, which puts us up to 63 for the month.  It is looking like next week we could pass the numbers for 2011.   Year to Date Sold The biggest jump in houses this week was the seven that sold in the 500K-$1M range.  This made a 1% change in that category. Year to Date Available    Even though it did not show in the above chart we had the current available properties in the $4M-$5M range drop to 45 from 51, a more than ten percent drop in inventory.  As you will see below the $4M-$5M range is the only range that dropped this week and it dropped an astounding six weeks.  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.  We are currently 42 weeks through the year. In the $0-$500K range we have 7.81 months on average to sell through. $500K-$1M  we have 6.34 months.  In the $1M-$1.5M we have 10.8 months. $1.5M-$2M we have 8.96 months.  $2M-$3M we have 12.25 months, a gain of a month.  $3M-$4M we have 18.43 weeks a gain of a month $4M-$5M we have 24.21 months, a drop of six weeks. $5M-$7.5M we have 24 months. $7.5-$10M we have 35.5 months providing a drop of one month.  $10M and above we have 40.5months.    Open Houses October 21st      Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  It should be a beautiful weekend, so enjoy.  The first five on the list are for rent. Address Town List Price Time Broker 60 Valley Road #A Cos Cob $4K 2-4 PM Raveis 60 Valley Road #B Cos Cob $4.2K 2-4 PM Raveis 543 Stanwich Road Greenwich $6.4K 1-4 PM Raveis 81 Sherwood Place #D Greenwich $8.5K 1-4 PM Prudential 30 Sherwood Avenue Greenwich $12.5K 1-3 PM Prudential 117 Putnam Park #117 Greenwich $375K 2-4 PM Sotheby's 1535 E Putnam Avenue #402 Old Greenwich $389.5K 1-3 PM Raveis 50 Valley Road #A2 Cos Cob $437.5K 1-3 PM Sotheby's 51 Forest Avenue #123 Greenwich $499K 1-4 PM Prudential 207 Sheephill Road Riverside $525K 1-3 PM Shore & Cntry Prop 49 Valley Road #A1 Cos Cob $598K 1-3 PM Sotheby's 60 Valley Road #A Cos Cob $599K 2-4 PM Raveis 47 Lafayette Place #4-I Greenwich $599K 1-4 PM Prudential 60 Valley Road #B Cos Cob $624.9K 2-4 PM Raveis 98 Putnam Park #98 Greenwich $695K 1-4 PM Raveis 133 Lake Avenue Greenwich $749K 1-4 PM Prudential 89 Prospect St Greenwich $799K 1-3 PM Sotheby's 5 North Ridge Rd Old Greenwich $898K 3-5 PM Prudential 25 Griffith Road Riverside $1.099M 2-4 PM Raveis 38 Breezemont Avenue Riverside $1.125M 1-4 PM Sotheby's 60 Valley Road A&B Cos Cob $1.22M 2-4 PM Raveis 13 Center Drive Old Greenwich $1.245M 2-4 PM Sotheby's 116 Lockwood Road Riverside $1.275M 2-4 PM Raveis 17 Stuart Drive Old Greenwich $1.375M 2-4 PM Sotheby's 81 Sherwood Place #D Greenwich $1.425M 1-4 PM Prudential 130 Woodside Drive Greenwich $1.469M 2-4 PM Sotheby's 77 Sherwood Place #B Greenwich $1.525M 1-4 PM Prudential 24 Burning Tree Road Greenwich $1.6999M 2-4 PM Sotheby's 34 Bote Road Lot 10 Tomney Road Greenwich $1.75M 1-4 PM Raveis 127 Havemeyer Place Greenwich $1.797M 1-4 PM Raveis 43 Stag Lane Greenwich $1.85M 2-4 PM Sotheby's 212 Bible Street Cos Cob $1.995M 2-4 PM Sotheby's 112 Taconic Road Greenwich $1.995M 1-4 PM Prudential 18 Welwyn Road Riverside $2.65M 1-4 PM Prudential 19 Crescent Road Riverside $2.695M 2-4 PM Raveis 30 Sherwood Avenue Greenwich $2.75M 1-3 PM Prudential 30 Sherwood Avenue Greenwich $2.75M 1-3 PM Prudential 543 Stanwich Road Greenwich $2.825M 1-4 PM Raveis 543 Stanwich Road Greenwich $2.825M 1-4 PM Raveis 127 Dingletown Road Greenwich $3.199999M 1-4 PM Raveis 55 Will Merry Lane Greenwich $3.25M 2-4 PM Coldwell Bnkr 64 Hillcrest Park Old Greenwich $3.495M 2-4 PM Sotheby's 1200 Lake Avenue Greenwich $3.85M 1-3 PM Prudential 487 North Street Greenwich $5.495M 2-4 PM Coldwell Bnkr 23 Cliffdale Road Greenwich $6.95M 12-2 PM Sotheby's         Mortgage Information The two individuals I feel most confident about when it comes to home mortgages are Jeff Ihrig of First Republic in the city and Iliad Estrada of Connecticut Home Mortgage. 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

Greenwich Real Estate Guy: Greenwich CT-Residential Analysis and Blog: 10/12/12

Greenwich, CT Residential Real Estate Analysis: October 12th A weekly analysis brought to you by Greenwich Real Estate Guy, Jared Randall www.greenwichrealestateguy.com   The above colonial is located at 17 Welwyn Road in Riverside and just came on the market.  This stunning house was built in 2006 and is described on the Greenwich MLS as a "this 'Green' Chic and impeccable home was built by Ken Bacco and designed by Architect Mockler Taylor.  Beautiful touches abound-5 inch wide Oak floors on the first floor, hand stenciled dining room walls, butler's pantry with Calcutta Gold marble counters, Mahogany built-ins in the library just to name a few.  The square footage does not reflect the 1,651 sq. ft. basement which includes a game room, wine room, full bath and guest/au-pair/ exercise room."  The property is .47 acre and the house is listed at 4,486 square feet.  The list price is $4.195M. As I mentioned last week, the goal of this newsletter has always been to inform buyers and sellers alike.  Clients are always asking when is the right time to buy or sell.  My personal opinion is there is not a better time to buy than right now.  We know that regardless of who is president the Obama Healthcare plan that was passed, contains a federal transfer tax of 3.8% to go into affect January 1.  On top of that the Bush tax cuts are scheduled to expire at the end of the year.  If one, assumes a 60 day close and would want to spare the 3.8% transfer tax, they would need to be in contracts by the end of the month give or take a few weeks.  Which leaves only a few weeks to find the right house, negotiate a price, get inspections, and sign contracts to close by the end of the year. With last week being an extended weekend I wanted to reiterate that we are seeing the sold properties grow continually over the last three months vs the sold properties in the same time period last year.  For the last three months we are about 25% higher in sold properties than we were in 2011.  However, we are seeing more new listings than we did last year.  In my opinion this is a sign that things are in the beginning stages of improving.  We have sold 25% more in July-September than we did last year, but just as important is we have not sold more properties than the amount of new listings coming onto the market.  So, even though it is encouraging we have more activity, until the sold properties outnumber the new inventory we will not see much change as the excess inventory is not declining.  My personal opinion is we will start to see closed properties outnumber (or close to it) the new listings in the last quarter, and work into a more competitive 2013. Please let me know if you would like me to provide customized information or statistics for you based on your criteria. **The information on the featured property and all statistical information is from the Greenwich MLS. **All opinions garnered from the statistics are my own    Best,                                                                                                                                                         Jared Randall    Greenwich, CT Residential Real Estate: Properties Sold Another week demonstrating that although the sold properties are improving (8 more last week), we are being outpaced by the inventory additions (20 new listings last week). Greenwich, CT Residential Real Estate: New Listings We have had 36 new listings so far this month, which is inline with the 71 we had last October. Greenwich, CT Residential Real Estate: Year to Date Sold Surprisingly we saw a one percentage change here and there, which is hard to believe this late in the year.  However, with only eight properties closing nothing that impacts the statistics. Greenwich, CT Residential Real Estate: Year to Date Available    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.  We are currently 38 weeks through the year. In the $0-$500K range we have 7.23 months on average to sell through. $500K-$1M  we have 6.15 months.  In the $1M-$1.5M we have 10.8 months. $1.5M-$2M we have 8.43 months.  $2M-$3M we have 11 months, a drop of a week.  $3M-$4M we have 17.34 weeks a gain of a week. $4M-$5M we have 25.5 months, a gain of three weeks. $5M-$7.5M we have 23.4 months. $7.5-$10M we have 33 months providing a drop of one month.  $10M and above we have 37.63 months.   Open Houses October 14th      Below are all of the Greenwich Open Houses for Sunday.  If you click on the link it will take you to the listing.  I will be hosting an open house from 12-3 p.m. on Sunday at 106 Hunting Ridge Road in Greenwich.  Enjoy your weekend.  Address Town Price Time Broker 49 Indian Mill Road Cos Cob $5,200/mo 1-4 PM Raveis 21 Mallard Drive Greenwich $6,000/mo 1-4 PM Coldwell Bnkr 21 Cat Rock Road Cos Cob $8,000/mo 1-4 PM Coldwell Bnkr 39 Willow Road Riverside $8,500/mo 1-4 PM Coldwell Bnkr 18 Lexington Avenue #A Greenwich $10,000/mo 1-4 PM Coldwell Bnkr 525 River Road Cos Cob $10,500/mo 1-4 PM New England Land 351 Pemberwick Road #110 Greenwich $335K 1-3 PM Raveis 1465 E Putnam Avenue #530 Old Greenwich $389K 1-4 PM Coldwell Bnkr 51 Old Kings Highway #1 Old Greenwich $495K 1-3 PM Shore & Cntry Prop 358 Long Ridge Road Stamford $579K 1-4 PM Prudential 60 Valley Road #A Cos Cob $645K 2-4 PM Raveis 9 River Road #419 Cos Cob $685K 1-4 PM Coldwell Bnkr 98 Putnam Park #98 Greenwich $695K 1-4 PM Raveis 64 Richland Road Greenwich $699K 1-4 PM Coldwell Bnkr 60 Valley Road #B Cos Cob $699.5K 2-4 PM Raveis 53 Harvest Ln Stamford $849K 1-4 PM Prudential 4 Lockwood Drive Old Greenwich $1.15M 1-4 PM Coldwell Bnkr 21 Mallard Drive Greenwich $1.199M 1-4 PM Coldwell Bnkr 86 Lower Cross Road Greenwich $1.249M 1-4 PM Weichert 49 Indian Mill Road Cos Cob $1.25M 1-4 PM Raveis 116 Lockwood Road Riverside $1.275M 2-4 PM Raveis 60 Valley Road #A & B Cos Cob $1.295M 2-4 PM Raveis 90 Buckfield Lane Greenwich $1.495M 1-4 PM Prudential 631 Long Ridge #12 Stamford $1.495M 1-4 PM Prudential 16 Norton Lane Old Greenwich $1.495M 1-4 PM Raveis 16 Norton Lane Old Greenwich $1.495M 1-4 PM Raveis 24 Shore Road Old Greenwich $1.568M 2-4 PM Coldwell Bnkr 21 Cat Rock Road Cos Cob $1.599M 1-4 PM Coldwell Bnkr 30 Stonebrook Lane Cos Cob $1.68M 1-4 PM Raveis 70 Bedford Road Greenwich $1.7M 1-4 PM Coldwell Bnkr 106 Hunting Ridge Road Greenwich $1.695M 12-3 PM Prudential 320 Valley Road Cos Cob $1.795M 1-4 PM Coldwell Bnkr 318 Valley Road Cos Cob $1.795M 1-4 PM Coldwell Bnkr 127 Havemeyer Place Greenwich $1.797M 1-4 PM Raveis 525 River Road Cos Cob $1.899M 1-4 PM New England Land 29 Hunting Ridge Road Greenwich $1.95M 2-4 PM Grnwich Fine Prop 1 Idar Court #B Greenwich $1.995M 1-3 PM Reloc. Group 18 Ravenglass Drive Stamford $2.195M 1-4 PM Prudential 120 Milbank Ave Greenwich $2.275M 2-4 PM Grnwich Fine Prop 17 Candelight Place Greenwich $2.275M 1-3 PM Prudential 145 Porchuck Road Greenwich $2.3M 1-4 PM Coldwell Bnkr 191 North Street Greenwich $2.4M 2-4 PM Coldwell Bnkr 55 Shore Road Old Greenwich $2.495M 1-4 PM Coldwell Bnkr 39 Willow Road Riverside $2.695M 1-4 PM Coldwell Bnkr 5 Dawn Harbor Lane Riverside $2.785M 1-4 PM Coldwell Bnkr 20 Stoney Ridge Lane Riverside $2.849M 2-4 PM Shore & Cntry Prop 82 Glenville Road Greenwich $2.875M 2-4 PM Grnwich Fine Prop 530 North Street Greenwich $2.995M 1-4 PM Raveis 55 Will Merry Lane Greenwich $3.25M 2-4 PM Coldwell Bnkr 43 Koefferam Road Old Greenwich $3.45M 1-3 PM Prudential 27 Chieftans Road Greenwich $3.595M 2-4 PM Grnwich Fine Prop 4 Cove Ridge Lane Old Greenwich $4.195M 1-4 PM Coldwell Bnkr 585 Round Hill Road Greenwich $4.495M 1-4 PM Coldwell Bnkr 101 Brookside Drive Greenwich $4.995M 2-4 PM Grnwich Fine Prop 487 North Street Greenwich $5.495M 2-4 PM Coldwell Bnkr