Brent Bell, CRS, e-PRO, GRI, Hartford County

Most real estate agents across the country have seen a positive impact from the new Federal Government program to grant an $8,000 tax credit to first-time buyers. This money does not have to be repaid if you own your home for at least three years. It is payable to the homeowner, even if they do not owe $8,000 in taxes (like a rebate check) and can be filed with either your 2008 or 2009 tax return. To be eligible, you must satisfy income requirements and close on your home on or before December 1, 2009.

This is by far the best economic stimulus program so far produced by the U.S. Government to help ease our current economic downturn (much more effective than handing money to the banks). Unfortunately, for an estimated 50% of eligible participants who do not have downpayment funds, this program does not go quite far enough. These potential buyers need access to the $8,000 in order to fund their downpayment and closing costs at closing-- they cannot wait for the tax refund.

So far, 10 states have stepped up with programs to address this need. We should congratulate Missouri for being the first to be responsive.

Colorado's "JumpStart" program began 14. Delaware, New Jersey, Tennessee, Idaho, Washington State, Ohio, Pennsylvania and New Mexico have since approved similar programs.

Fiscally sound, these programs recognize both the impact to the state economy, in terms of direct tax revenue and indirect additiional sales tax on appliances will more than offset any costs to administer such a program. They can be funded through a modest interest charge on this one-year second mortgage.

Please urge our governor and legislature to respond to this need quickly, Maybe they can work on this together as a first step towards handling our state budget issues together! Help Connecticut to be the 11th state to help the first-time home buyers (and help our state's economy at the same time),

For everyone reading about the general doom & gloom in the housing markets (there is no denying that both Fairfield & Litchfield counties have been hit hard in the first quarter), here are some fresh & encouraging numbers in West Hartford:

First, sales in April are up for single-family homes compared either to April, 2008 (70 compared to 60 one year ago) or to March, 2009 ( 61 in March versus 70 in April). In almost all price categories, sales were up compared to last month's activity (the exceptions were in the under-$200,000 range and the $650,000 to $750,000 range). Check my earlier blog for March sales details.

April 2009 deposits taken for West Hartford Single-Family Homes:

Under $200,000 4

$200,000 to $250,000 19

$250,000 to $300,000 16

$300,000 to $350,000 8

$350,000 to $450,000 12

$450,000 t0 $550,000 4

$550,000 to $650,000 3

$650,000 to $750,000 2

Over $750,000 2

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

According to CNN & Money Magazine, West Hartford is among the top 100 small cities in the United States (#76). West Hartford is the only city in Connecticut to be mentioned in the top 100 (there are just 3 cities selected in neighboring Massachusetts).

Our town scored well in terms of average house price being a bit more affordable than the average of the top 100 group, our residents being highly educated, crime relatively low, air quality better than average, commute time to work being shorter than average, more public libraries than average and better state spending on the arts.

This is not the first time West Hartford has been singled out. I am impressed when people from other states, as far away as California, have called me to say: "Brent, we are moving to Connecticut and we know we have to live in West Hartford." There are many great towns in Connecticut and a local real estate expert will help you choose which criteria are most important to your individual situation in choosing the best town for you and your family.

For the survey data, including information on all 100 small cities, visit http://money.cnn.com/magazines/moneymag/bplive/2008/snapshots/PL0982660.html.

For more information about local neigborhoods within West Hartford, visit www.west-hartford-ct.com.

In West Hartford, many homeowners look for housing in just one elementary school district, especially if they already have children in that school. For a school district, having diverse housing stock is a real asset; parents appreciate being able to move to larger, smaller or different style homes without having to uproot their children from the school they call home. Wolcott Elementary School is a winner for this (and for many other) reasons. This is not your ordinary school website--click on the tree to learn about the outdoor classroom adjacent to the school. Click on the fish in the aquarium to meet the students who are in charge of keeping this site vibrant!

In terms of closed sales (MLS statistics), this West Hartford neighborhood has shown remarkable stability. In 2007, there were 95 closed single-family sales. Buyers paid prices ranging from $146,000 to $1,550,000 to own homes in this district. The median price paid was $252,000 for a home located at 83 Selden Hill Drive. This home is a 1,254 sf Ranch with a 1-car garage and central air conditioning. It has 3 bedrooms, 1 bath and 2 fireplaces (the 2nd in the finished lower level). The median days-on-market for the homes which sold was 36, so more than half the property sellers priced their homes appropriately.

2008 saw few changes in the real estate market in this neighborhood. There were 93 closed sales of single-family homes. The median days-on-market decreased to 29! Buyers paid prices ranging from $170,000 for a 4-bedroom home at 17 Grove Street to $1,290,000 for a 4-bedroom lakefront home at 201 Tunxis Avenue. The median sales price for 2008 was $242,000 at 22 Davenport Road. This 1,392 sf Ranch has 3 bedrooms, 2 baths, a carport and an unfinished basement. The kitchen and bathrooms were updated.

Currently, there are 36 homes for sale in the Wolcott neighborhood, offered at prices ranging from $209,900 to $2,100,000. To see a virtual tour of a wonderful median-priced home ($250,000) with an updated kitchen, visit 572 South Main Street.

If you think 20 years of success in real estate might make your housing transition easier, contact Brent today to schedule a free consultation at www.BrentSellsCThouses.com.