Litchfield County real estate information, local events and more.

Litchfield County Real Estate Talk, is that an update, an upgrade, or was that merely maintenance?

I hear it all the time, I put a new roof on, new siding, new furnace, the dreaded new septic, so THAT will certainly add value to my property, right? I mean, after all, I upgraded.... right?

Are these updates or maintenance?

You won't get your money back for putting on a new roof, or replacing a failing septic or a furnace that blew... nope, sad to say but you won't. Not in the way that you think.

You and your neighbors home started life as identical dwellings. Over the years your neighbor has done nothing, the house has the original roof, original septic, original heating system, on and on. The house shows wear and tear. But you put a new roof on, you replaced the failing septic and heating system. (But otherwise the homes are still the same) I will give it a bit more value for condition, you will be more marketable, more sale-able. But dollar for dollar, you won't get it back. That is routine maintenance that should have been done. The good news? Your neighbors house, with all the deferred maintenance, is worth less than yours!

When an agent tries to sell me on the fact that the house had upgrades, a new roof, a new furnace, a new septic, I tell them that is maintenance, routine maintenance. It may make the sale easier, but a new septic doesn't warrant a $25,000 price increase over an identical home with the original septic!

It does work in reverse however. I will say, if the septic is shot and the price to replace it is $25,000, I can pretty much guarantee that the sales price will reflect that $25,000, even if the asking price or the offered price didn't reflect it in the first place.

Upgrading, updating, that would be a bit of a different story. A home that has a new kitchen, complete with granite counter tops and stainless steel appliances is certainly more valuable than the house next door with the original kitchen from the 70's. Bingo, you are at the head of the class! Now you are worth more!

That was my long answer, now here is my short answer. There is only so much value we can give your house, no matter what you did to it. Style, size, location, market conditions, these all come into play. I cannot use a 4 bedroom, 2.5 bath colonial built in 2005 as a comp against a ranch built in 1970, no matter how many updates and upgrades were done. After all, a t-bone steak is worth more than a rib eye steak! But the good news is, there are many people that will be happy with rib eye at the end of the day!

Yes, make sure you maintain your house, that deferred maintenance may cost you a bundle when you go to sell. And when you have upgraded, you will see an increase in price, but not dollar for dollar!

Candlewood Lake, Lake Waramaug, Bantam Lake, Woodridge Lake, Tyler Lake, Litchfield County has some pretty amazing lakes to live on! Yes, the small state of Connecticut has the ocean on one side, and Litchfield County has the the two largest natural lakes and the largest man made lake in Connecticut on the other side! Add to that the other lakes, ponds and the lovely rivers we have and you may begin to understand the water fever we experience here when spring comes. We have water covered in Connecticut! (or maybe the water has us covered?)

It's time, time to find your home in one of our lake communities that surround the lakes of Litchfield County. All sizes, all prices, something for everyone. From the wildly fantastic and exclusive to the most modest home, we have many. Public lakes, man made lakes, private lakes, natural lakes, largest, smallest, they all have one thing in common. They are beautiful lakes. You can have lake frontage, lake views, lake rights, all depends on what you want to spend and where you want to live.

A bit about a few of the lakes of Litchfield County that we cover.

Candlewood Lake is the largest lake in Connecticut. It spans 5,420 acres. Candlewood Lake was created in 1928, acres of farmland were submersed by water pumped up from the Housatonic River. Candlewood Lake sprawls through 5 towns in both Litchfield and Fairfield Counties, creating great water activities for those who live in New Milford (Litchfield County), New Fairfield, Brookfield, Sherman and Danbury, CT (Fairfield County).

Interesting fact about the creation of Candlewood Lake. Although the residents of what is now Candlewood Lake were resettled to other areas, many of the buildings were left standing! Scuba divers have been known to run across the remains of old buildings, getting a glimpse into what life was like before Candlewood Lake was created.

From modest homes in lake communities, to wildly fantastic lake front homes, there is something for everyone. Gorgeous views, wonderful walks along the beach, hiking the trails along the lake, boating, fishing, scuba diving, swimming.  Each Candlewood Lake community has its own flavor and appeal, many with private docks and beaches for those who live within, offering a wonderful lifestyle for the lake lover!

SEARCH HOMES FOR SALE CANDLEWOOD LAKE

Lake Waramaug spans the towns of Washington (New Preston), Warren and Kent, CT. Some of the most beautiful and prestigious homes in the area are gracefully set along the lakefront, it is truly one of the most gorgeous lakes I have ever seen. Many of the homes around Lake Waramaug date back to the late 1800's and early 1900's. They have been upgraded and updated over time, becoming favorites for those wishing for a luxury lake country home in Litchfield County.

I can promise you one thing, Lake Waramaug will provide you with some of the most spectacular eye candy Litchfield County has to offer!

Lake Waramaug is the second largest natural lake in Connecticut, although you do not realize it as you drive past the lake. Lake Waramaug has been a popular getaway since the 1800's, many owners have left the look and feel of these antiques to reflect the period, which only adds to the charm. Take a drive around the lake road, you will see grand Victorian homes overlooking Lake Waramaug with large porches taking advantage of the views, homes with a more vacation cottage feel, capes with that distinctive "Cape Cod" charm. Many of the homes have fantastic boat houses and docks, private swimming areas. All set in the natural beauty of Lake Waramaug.

SEARCH HOMES FOR SALE LAKE WARAMAUG

Bantam Lake, Litchfield (Borough of Bantam) and Morris, CT. Bantam Lake is the largest natural lake in Connecticut with a surface area of 947 acres. There is approximately 10 acres of shoreline, most of it natural woods with homes dotted around the shoreline. The White Memorial Foundation protects much of the area surrounding Bantam Lake and offers hiking trails, camping and much more. Homes along Bantam Lake range in price and size, offering something for everyone. Bantam Lake offers recreational boating and some of the best fishing around. Ice fishing is also a favorite on Bantam Lake, although I personally don't understand the lure of ice fishing, but that is just me. There is also the Bantam Lake Yacht Club, which has been in existence since 1933. Members race small sailboats on Bantam Lake, and enjoy a variety of social activities at the club.

SEARCH HOMES FOR SALE BANTAM LAKE

Woodridge Lake, Goshen, CT. A private lake community surrounding Woodridge Lake. Homes on Woodridge Lake vary in price and size.  Woodridge Lake boasts to be one of the cleanest lakes in Connecticut. Residents who live in this community have access to the lake, to a new 12,500 square foot clubhouse, 8 tennis courts, a large swimming pool, 4 sand swimming beaches and 130 boat docks. There are year round activities in the club house for those who make Woodridge Lake their full time residence.

Tyler Lake, Goshen, CT.  I have heard Tyler Lake referred to as Goshen's best kept secret. Perhaps they would not be happy with me spilling the beans about Tyler Lake. This beautiful lake is dotted with cottages and cabins that ring of a simpler time, as well as larger, more modern homes. Spanning 187 acres, Tyler Lake offers residents a great way to enjoy lake life on a smaller scale than some of the other lakes in the area.  There is a state boat launch on the western side of Tyler Lake. Many of the homes that dot the lake have their own docks. The maximum depth of Tyler Lake is 23 feet, the median depth is 13 feet. About 70% of the lake front is populated.

SEARCH HOMES FOR SALE WOODRIDGE LAKE & TYLER LAKE

If you are ready to move to one of the Lake Communities in Litchfield County, give us a call at 203.460.1775. You can be in your new home just in time to enjoy all the summer activities!

LITCHFIELD COUNTY LAKES REAL ESTATE

View Lakes of Litchfield County in a larger map

Warren Buffett says a simple sentence and the market moves ahead?  “If I had a way of buying a couple hundred thousand single-family homes I would load up on them.” (When he speaks, I guess everyone listens!)

I am seeing such activity, like I have not seen in years! Busy is one thing, busy with closings is quite another. Yet we seem to be moving in that direction here in New Milford, CT. Our listings are going under deposit, our buyers are making offers that are being accepted. It is as if a magic wand was waved over the real estate market here in New Milford, CT with that simple sentence. 

For me personally, the words spoken by Mr. Buffett took on new meaning. My company, Prudential Connecticut Realty, was purchased by HomeServices of America this week. HomeServices of America is a subsidiary of Mr. Buffett's company, Berkshire Hathaway.

The day after the announcement came out, a top producer of another company came up to me to talk about the news. He felt this was a good sign, that Mr. Buffett would not be buying real estate companies if real estate was not going to improve. I felt the same way when I heard the announcement, a bit of a feeling of relief. And at one of the homes we toured on caravan that day, an agent held open the door for us and said "let the Buffett girls go in first!" The news about Buffett's company buying Prudential Connecticut Realty made many of our fellow agents feel as if things are really going to change for the better.

We are still Prudential Connecticut Realty, and will continue to be so. We have the same management team, we now have the power of HomeServices of America behind us. I look towards an even better and brighter future. HomeServices of America bought the 4 top tier Prudential Real Estate Franchises in the US, and we were one of them.

The future does indeed seem to be a bit brighter for real estate!

But what I really want to know is... can I say I work for Mr. Buffet? Or is that just too much of a stretch? Truth be told, it would be an honor to say so!

And I really can't help myself when I say... ROCK ON MR. BUFFETT!

(Bad pun, I know. But as I said, I couldn't help myself)

I just closed on this 3 bedroom raised ranch on 14 Cornell Rd in New Milford, CT. House was listed for 225,000, went under deposit in 3.5 weeks, and closed today for $215,000.

The real estate market is moving here in New Milford, CT. I have not seen it so busy is quite a while. Let's hope this movement will continue!

We are seeing more buyers out looking at homes for sale in New Milford, CT, all over Litchfield County actually.  Yes. I am "cautiously optimistic" about the spring market here in Litchfield County, the overall news about the economy is sending mixed messages so anything goes I suppose. But yes, more buyers are out there looking, more homes are going under deposit than I have seen in a long time.

But (there is always a but, isn't there)

There are many homes on the market for sale, in New Milford, CT, in Litchfield County. When I did the latest real estate market report for New Milford, only 13 homes had sold in March of 2012. The absorption rate was high, it would take 17 months to sell the current inventory, if nothing else came on the market, based on the last 6 months of sales.

So, how to answer the question, will the spring market bring buyers to my New Milford, CT house? Bring THE buyer to my house? Are you willing to price your home to sell? Will your home below the best competition? Will you make your home easily accessible for showings? Will you clean it up, spruce it up, fix it up? Because if you aren't willing to do these things, chances are your home won't sell in New Milford, CT, in any real estate market to be honest.

If you are interested in selling your Litchfield County CT home, make sure you are are really interested in selling your home, not helping the guy down the street sell his well priced home!

Once you decide you can do the right thing to get your home sold, let us help you take it all the way. check out our intensive marketing program for our listings in Litchfield County CT.

Check out this wonderful 4 bedroom, 2.5 bath colonial for sale in the sought after Arbor Ridge Development in Torrington CT. 684 Heron Drive in Torrington, CT for sale. This is a short sale and will require lender approval.

Arbor Ridge Home for Sale

Overview Maps Photos Features Description

$191,900 Single Family Home Main Features 4 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 2,458 sqft Lot: 0.54 acre(s) Location 684 Heron Dr Torrington, CT 06057 USA To get updates on open home dates and other property events, please click the "Like" button below:

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Andrea Swiedler, Swiedler & Adams Prudential Connecticut Realty (860) 355-2646 X 19 andrea@andreaswiedler.com http://www.andreaswiedler.com Listed by: Prudential Connecticut Realty

Our recent listings Arbor Ridge Home for Sale Open Contemporary Colonial in New Milford CT 21 Anita Way, Warren CT for Sale Washington CT Unique One Level Living Roxbury Ranch on 3.5 acres Subscribe to our listing feed

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The house had been listed before, for a long, long time. It had chased down the market, but like a dog chasing their tail and never quite catching it, the price had never been close to the current market.

Andrea, can you help us sell our house, please?

So my business partner and I pulled the comps together. I knew, we knew, that we wouldn't be listing the house, we knew the last list price was still way to high. We knew it as the owners were telling us about the special cabinets, how much it cost them to build.

I could hear the words before they said them...

We are not going to GIVE it away, no thank you!

Nope, not only are you not going to give it away, you are not going to sell it either!

We don't take listings just to take them. We take listings to sell them. A house that is $75,000 over priced is not one we want at all. We don't want to list it, they don't want to sell it. We came to a mutual decision fairly quickly.

In a fragile real estate market such as one we are in here in Litchfield County, overpricing your home will mean no sale for you. And make no mistake, the real estate market is in a very fragile position.

And we are not in the position to help you not sell your home!

However, if you do want to sell your home, check out our sellers website geared especially towards selling your home in Litchfield County. Then give us a call at 203.460.1775.

If you are ready to sell your Litchfield County home that is!

This is so true, what is a house worth? It has nothing to do with the appraised value the town has given it, or an appraised value that an appraiser has given it....

Want to know what your house is really worth in Litchfield County, CT, what the fair market value of your house is? Look no more, the answer is below!

New Milford, CT market report. We are seeing the amount of active listings creeping up yet again, without the sales to support it. We also saw a very poor list to sales price last month, homes sold for 88% of list price. This means there are still homes that are overpriced on the market. With an absorption rate of 17 months (how long it will take the current inventory to sell) it is certainly a buyers market and homes must be priced well to attract those buyers!

As of April 2, 2012 in New Milford, CT there are 227 active single family homes for sale. The active inventory is creeping up again, there are 16 more active homes than there were last month at this time. 16 are listed as short sales, (there could be more however) and 4 are foreclosures. We just don't have the sales to support the inventory creeping up.

13 single family homes sold in New Milford, CT in March 2012. This is up for from last month. Of these homes that sold, the average list price was $343,254. The average sale price was $302,223. The average market time was 82 days. 3 of these homes were foreclosures and there are no short sales listed as being sold in March of 2012.

The median sales price for a single family home in New Milford, CT for March 2012 was $184,450.

The average list price of single family homes for sale in New Milford, CT is $343,254.

The average market time for these active listings in New Milford, CT is 137 days.

The median price of a home for sale in New Milford, CT is $339,900.

The highest price home for sale in New Milford, CT is $5,900,000, a beautiful estate belonging to a world famous comedienne, and located on the New Milford, New Preston, CT border. This home, as of today, has been on the market for 1068 days as of today.

The lowest priced home for sale in New Milford, CT is $99,900. For whatever reason, does not qualify for financing. It is a small home, 640 square feet.

Of the 211 single family homes for sale in New Milford, CT, 20 homes are under deposit. The average list price of these homes is $317,260. The average market time is 76 days. The market time is down significantly for the homes under deposit, which means buyers are choosing the homes that are well priced.

Currently there are 26 homes that are in the pending sale status in New Milford, CT. The average list price of these homes in the pending sale status is $300,262. The average market time for these homes is 150 days. 3 of these are foreclosures and 4are short sales.

What does all of this mean? I was hoping for better stats given that we are seeing more buyer activity, but it will probably show up next month if we can keep up the momentum I am seeing. FRAGILE is the only word that comes to mind for the condition of the New Milford CT real estate market. We are seeing the active listings creeping up again, and we don't have the number of sales to support this increase.

IT IS CLEARLY A BUYERS MARKET IN NEW MILFORD, CT. The key to selling a home in this market is to price it far better than the other competing homes in the same category. You must grab the buyers attention right from the start, not chase the market down or languish on the market because you outpriced yourself right out of the game.

If you don't believe me about pricing and buyers mentality, check out some interesting stats on The Great Real Estate Divide.

If you are thinking of selling in New Milford, CT check out our Ultimate
Marketing 24-7, a custom marketing program that will dominate the internet.

Check out the previous home sale market activity report for February, 2011.

Interest rates are still low, are you are ready to buy a home in New Milford, CT? Click here to search for homes for sale in New Milford.

The above statistics are provided courtesy of Greater Fairfield County Multiple Listing Service (CMLS). Information provided is deemed reliable, but not necessarily accurate. There may be discrepancies, as mistakes in inputing can be made, and the fact that Connecticut has more than one multiple listing service. There may be instances where a home was/is for sale in New Milford and is on the other multiple listing service. Most of the homes for sale are listed on CMLS, therefore that is where I base my statistical information. I do believe it gives a good sense of what is happening in New Milford.