West Hartford, CT

THE WEST HARTFORD CT HOUSING MARKET is a very active one. I recently listed this fabulous split level home and in less than week we had a contract. We are sheduled to close on July 23, 2010.

With three spacious bedrooms, two and a half remodeled bathrooms, eat-in kitchen, open floor plan, and hardwood floors throughout, this home is perfect for living and entertaining. Set in a desireable neighborhood within walking distance to West Hartford Center and Bishop's Corner, the location is ideal.

My sellers and the new buyers couldn't be happier, but what about all the people who missed out on an opportunity to live here?

I recently wrote about West Hartford being named one the the top ten cities of the new decade by Kiplinger. Did this have an impact on the West Hartford housing market? I'll probably never know, but the publicity probably didn't hurt a bit.

If you are looking for a home in West Hartford, there are currently 244 houses on the market. Here are the number of homes available on the MLS by price range as of today:

• $200,000 and Under 24
• $201,000-$250,000 36
• $251,000-$300,000 43
• $301,000-$350,000 25
• $351,000-$400,000 22
• $401,000-$450,000 19
• $451,000-$500,000 14
• $501,000-$550,000 13
• $551,000-$600,000 9
• Over $600,000 39

If you would like more information about the West Hartford CT housing market, please give me a call.

West Hartford refinance mortgage, what does it mean to refinance? How could refinancing my home in West Hartford help me? What will it cost me? Under what circumstances would I want to consider refinancing? All of these are questions you may have when you hear the term "refinance.

What does it mean to refinance? Quite simply, a refinance is when you replace the existing mortgage on your home with a new one. When it comes to mortgages there are two main categories of refinances, a "rate & term" or "cash-out". A "rate & term" refinance is a new mortgage which was obtained to lower the rate, or change the term of the original loan. You may include the costs of the new loan into your new loan, but a borrower getting a "rate & term" refinance does not receive any additional cash at the time of closing. The other option "cash-out" is a new loan where you receive cash in excess of the current balance on your loan at closing. You may choose to get a check at closing, or you may choose to pay off the debts at closing if you are doing a debt consolidation. So you may choose to reduce your rate, or shorten the term of your loan with a "rate & term", or get cash for a project or to consolidate debt with a "cash-out" refinance, there are many different kinds of West Hartford refinance mortgages.

What will it cost me? A West Hartford refinance mortgage is like getting any other mortgage and the costs are very similar. One area where you may see some savings is in the title insurance, it is often possible to get a "re-issue" rate which is less expensive. You may have heard of no cost loans, or you don't want to pay points, or you are going to be in the house forever so the lowest rate is most important. We need to talk about where you are, what you want to accomplish and how to get you there. If you want to have the bank pay your closing costs, okay. If you want to get a really low rate, okay.

Why you will want to refinance you mortgage is a personal a situation as when you purchased your home. Let's discuss your situation and create a solution to achieve your goals. Call me at 860-306-8029 to talk about your West Hartford refinance mortgage.

WEST HARTFORD CT NAMED ONE OF TOP TEN CITIES OF THE DECADE! Kiplinger Personal Finance Magazine has named West Hartford, CT one of the top ten cities of the decade. The top ten in order are:

1. 1. Austin, Texas
2. 2. Seattle, Washington,
3. 3. Washington, DC
4. 4. Boulder, CO
5. 5. Salt Lake City, UT
6. 6. Rochester, MN
7. 7. Des Moines, IA
8. 8. Burlington, VT
9. 9. West Hartford, CT
10. 10.Topeka, KS

Of course, those of us who live in the Hartford area have long known that West Hartford has always been a great place to live, and this newest designation will only add to its popularity.

You can read the full article on the Top Ten Cities for the Next Decade or the full article on Best Cities for 2010: West Hartford CT.

February is a short month which buyers used to purchase just over 2 homes per day in West Hartford! We had 58 homeowners accept contracts (not including sales with hubbard clauses) during this month of snow, winter vacation and two tax credits (up to $8,000 for new buyers and up to $6,500 for existing homeowners purchasing a new primary residence).

First, sales in February are up for single-family homes compared either to February, 2009 (58 compared to 37 one year ago) or to January, 2010 ( 34 in January versus 58 in February). The median days-on-market for the sales was 29 days and the median list price was $279,900. Note that the market continues to be soft for homes priced over $600,000. Check my earlier blog entry for 2009 sales details.

February 2010 deposits taken for West Hartford Single-Family Homes & Active Inventory:

Under Contract For Sale

Under $200,000 7 23

$200,000 to $250,000 12 23

$250,000 to $300,000 14 37

$300,000 to $350,000 8 27

$350,000 to $450,000 7 32

$450,000 to $600,000 8 25

$600,000 to $750,000 2 12

Over $750,000 0 26

Totals 58 205

For more detailed sales data which applies to your personal situation contact Brent on the web or call his cell at 860-614-8927.

Follow me at www.twitter.com/BrentinCT

Prices have been relatively steady over the last few years in the West Hartford condominium market, with the number of days-on-market jumping up! Inventory currently for sale is approaching the total number of units sold across town last year. Unless demand picks up considerably in 2010, this could be a real buyers' market for condominiums in West Hartford!

The West Hartford condominium market had 94 closed sales in 2009 (Just a few less than the 103 units which closed in 2008). The median sales price also declined slightly-- to $217,500 in 2009 from $224,000 in 2008. For the successful sales in 2009, median days-on-market was 76---well above the 43 days-on-market in 2008.

The highest price paid in 2009 was $640,000 for unit 502 on Memorial Road (a 1,597 sf, 2 bedroom, 2 bath home in Blue Back Square). The median price of $217,500 purchased a 2 bedroom, 2 bath home in Barclay Court (779 Prospect Avenue, # C-10). The lowest-priced condominium was for only $5,000 at the Canterbury. This unit was on the second floor at 45 Highland Street, offering 1 bedroom and 1 bath in 611 square feet.

As Febuary 2010 comes to a close, there are 85 condominium homes available to purchase. The prices range from a low of $15,000 for a 1 bedroom, 1 bath unit (611 sf) at the Canterbury on Highland Street to $699,900 for a 2 bedroom, 2 bath (1,319 sf) unit built in 2007 at 85 Memorial Road (Blue Back Square, 2nd floor). The median-priced property is at 60 Cassandra Boulevard: 2 bedrooms, 2 baths & 2,019 sf built in 2002 with a 2-car garage & offered at $311,000. The pricing is fairly optimistic with this inventory; median days-on-market is 121 (4 months on the market without a contract).

Currently, there are 25 condominiums under contract in town. The highest-priced is on Memorial Road in Blue Back Square, with an asking price of $699,900 (2 bedrooms, 2 baths, 1,613 sf, built in 2008). The median is 730 Farmington Avenue in Stonebridge Estates, priced at $279,900 (2 bedrooms, 1 bath, 1,100 sf, built in 2007). The lowest-priced is 100 Oakwood Avenue in Twin Oaks, asking $88,000 (2 bedrooms, 1 bath, 891 sf, built in 1964).

For more information on the value of your condominium in this market, contact Brent today by cell (860-614-8927) or by email (brentbell@remax.net). You can find this blog directly by visiting www.MyCTRealEstateBlog.com.

If you want the approximate value of your home, and are not ready to be contacted by an agent, visit www.MyHartfordAreaRealtor.com . Fill out as much detail as possible about your house. Brent will respond by email only (unless you request a phone call) with an estimate of your home's current value within 24 hours of your request!