About Bethel's Chimney Heights

Bethel, Ct Market Update As Of 3/31/11

#Homes that Sold in its 1st Listing : 11 (52%) 72 (61%) 80 (64%) 68 (59%) 83 (63%) 106 (69%) 130 (71%)

Total # Homes Sold: 21 117 125 115 131 154 183

Actual Avg. Days-on-Market: 263 days 224 201 213 151 141 103

#Sales Jan.-Mar. YTD Comparison : 21 19 19 20 31 35 30

"Avg. Days-on-Mkt." per MLS: 133 116 104 109 82 82 66

The numbers show that the market time is increasing while the number of sales is decreasing.

Bethel, Ct Single Family Sales Comparison 2009 vs. 2010 How'd We Do???

2009 2010

Days on the market 104 116

Acverage List Price 353329 351343

Average sale Price 337023 332097

Total number of sales 125 117

Total number of sales:

0--------200,000 9 10

200000-299999 39 40

300000-399999 40 33

400000-499999 24 19

500000-599999 8 9

600000-699999 3 2

700000-799999 2 3

800000-899999 0 1

In summary the Average List and Sale price have gone down slightly in 2010 while the Average Days on the market have increased slightly. Does this mean that we have hit the bottom? The activity level has been way up in January. If consumer confidence goes up or even stays the same AND there are no more catastrophies I believe that we have seen the bottom and can expect another flat year with no appreciation and the market time between 100-120 days.

The Shadow Inventory: How will it affect the Bethel, Ct. Market

There is a hidden demon out there that can have a drastic effect on the market as we know it. This demon is something called The Shadow Inventory. You may be wondering what it is and how will it affect the Real Estate Market in Bethel.

The shadow inventory is made up a four basic types of properties. These types are pre-foreclosure, bank owned properties, auction properties and government owned properties. These properties are not on the market currently but are likely to come on the market in the Spring. Currently there are 81 properties in the shadow inventory in Bethel. These properties fall into the category of distressed properties and they will usually come onto the market at below market prices. As with any type of commodity when there is a larger supply the price tends to go down. Of course, the Spring is when alot of sellers THINK that it is the very best time to put their houses on the market. In addition, we haven't even mentioned that there is also a supply of homes set to hit the market in the shadow inventorys of Brookfield, Danbury, Newtown etc.....

I have been talking to numerous sellers recently who have told me that they want "to wait until spring to list their home' as the market is "always better then". I have to beg to differ on the point. Let's list the reasons why now is the BETTER TIME TO LIST YOUR BETHEL, CT. HOME FOR SALE NOW RATHER THAN THE SPRING.

1. INTEREST RATES ARE AT RECORD LOWS--

2. THE SHADOW INVENTORY HAS NOT HIT YET

3. THE SUPPLY OF HOMES FOR SALE IN THE WINTER TENDS TO BE THE LOWEST SO LESS COMPETITION

4. THE BUYERS WHO LOOK DURING THE HOLIDAYS OR DURING THE WINTER TEND TO BE SERIOUS

5. MOST HOMES LOOK BETTER WHEN DECORATED FOR THE HOLIDAYS

6. SOME BUYERS NEED TO BUY BEFORE THE END OF THE YEAR

The Five Reasons Your Bethel, CT Home Didn't Sell---It's never a good feeling when your house has been listed for 90 to 180 days and it expires without being sold. You wonder where you went wrong. The problem is that most of the time there is nobody to turn to who will give you honest answers. UNTIL NOW THAT IS...............................

Basically there are only FIVE REASONS WHY YOUR HOME DIDN'T SELL.......

LOCATION---We can't change the location but we certainly discuss how this will affect the marketability of your home. We will come up with a marketing strategy that will MAXIMIZE YOUR LOCATION.

CONDITION---YOU NEVER GET A SECOND CHANCE TO MAKE A FIRST IMPRESSION. The Beninson Associates offer all of our clients a complementary home staging consultation to make sure that your home is fit to sell.

PRICE---We offer an absorption rate analysis for your home. How many homes are currently for sale in YOUR SPECIFIC PRICE RANGE? How many homes have sold each month in your specific price range on the average? How do these factors affect YOUR SPECIFIC PRICING STRATEGY?

COMMISSION---What is the commission that your competition is CURRENTLY OFFERING? Do you have a COMMISSION STRATEGY that is competitive?

MARKETING---Since over 80% of buyers today begin their home search on the Internet how extensive is your MARKETING STRATEGY? Is there a virtual tour of your home? Do you have a minimum of 16 pictures on Realtor.com? Can your home be found on more than 50 web-sites and search engines?\

I'm sorry that your Bethel, CT home didn't sell but, my team, The Beninson Associates, can answer all of your questions and............

WE WILL GET IT SOLD THIS TIME!!!

Chimney Heights Bethel,CT

The Chimney Heights neighborhood in Bethel,CT offers quaint suburban homes in a peaceful setting. The neighborhood was developed from the early 1960s in several phases up to the early 2000s as the dairy farms got bought up. Located just off of Stony Hill Road, Chimney Heights has the best access to I-84 for all of Bethel, with exit 8 three minutes away.Shopping along Stony Hill Road includes Target, Stop & Shop, Big Y,Walmart and several local eateries & small shops.

Commuting- Located just off of I-84 in Bethel, Chimney Heights is in an outstanding spot for commuting east & west.

Home Styles:The Chimney Heights neighborhood is known of its raised ranches, split level & small colonials homes. They were built by Steiner, who wanted to provide quality homes that average people can afford. There are a couple of streets with much larger homes, about 2500-3000 square feet, but many of the homes were built with 1600-1800 square feet & some have had additions to put on over the years. A typical lot in Chimney Heights averages about 1/2 an acre, with the newest & larger homes on about 1 acre. Interest buyers should contact the town of Bethel about the sewer project underway.

Home Prices-Because of the large size & relatively similiar homes of Chimney Heights,it is usually very easy to price out a home. Sales have ranged from $275,000-$450,000. This is good of buyers since property values are uniform, and there are almost always homes to choose from.

Interested in real estate in the Chimney Heights area of Bethel, please contact me or call 203-417-0523.

This real estate information is collected from a number of sources by Jonathan Hall, Realtor & Internet Marketing Specialist with William Pitt Sotheby’s International Realty in Danbury,CT.

Visit Jonathan online: www.danburycthomes.com