Bob and Richelle Ward, Realtors, ABR

Fairfield Hills is located in Newtown, CT on Wasserman Way, the connecting road between Rt. 25 and Rt. 34. Fairfield Hills was a State Psychiatric Hospital in operation from the 1930's up into the 1990's. It is an imposing facility with many buildings that are now vacant and in disrepair. Fairfield Hills has a lot of history - check out this website for history on Fairfield Hills.

When we first moved to Newtown in 2000, Fairfield Hills was always a big topic in The Newtown Bee, our local newspaper (search the on-line archives for loads of Fairfield Hills news stories). The Town of Newtown was in negotiation to purchase this facility from the State of Connecticut as the town felt they could keep better control over its future development. Finally, in 2001, Newtown purchased the facility for $3.9 million. The purchase of Fairfield Hills and subsequent discussions over the future land use have been the source of conflict in town.

The Town of Newtown has developed a Master Plan for the Fairfield Hills complex. The Fairfield Hills Authority meets the Third Wednesday of each month in the meeting room at Town Hall South, Three Main Street, at 7:30 pm. All meetings are open to the public.

Now that we've given a little background on Fairfield Hills, we would like to tell you about the recent changes that have happened there.

• Newtown Youth Academy (NYA)- a new non-profit, community-centered organization dedicated to the health, fitness and general well-being of all Newtown-area residents-and its young people in particular. The NYA is headquartered in a new 86,000-square-foot, multi-use indoor sports complex.
• Proposed Skate Park- Newtown Park and Recreation is hoping to secure $50,000 this year to construct a skate park at the Fairfield Hills complex. It would be located near the ball field on Mile Hill Road South. Town meeting is scheduled for 1/21/09.
• The trails at Fairfield Hills have been blacktopped making it easier for joggers, bikers and walkers to use them. Many people walk their dogs on these trails. No cars are allowed.

There is a lot of history at Fairfield Hills and it is a complex whose purpose is changing. It's great to see this change happening as the old State Psychiatric Hospital was sitting there just wasting away.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

I recently overheard a homeowner say that his Realtor had told him to "hold off" on listing his home for sale. I really wanted to say something to this person about how wrong this was, but circumstances didn't allow. I've thought about this comment and feel that it is a really irresponsible thing for a Realtor to tell a homeowner. Think about it:

In Newtown, home prices have come down 22% off the "peak". If you purchased a home during the peak for $500,000, its value today is $390,000. Should the market continue to decline in 2009, this same home's value will be less a year from now. For example, if the real estate market declines another 6% in 2009, this same home would be worth $366,600 a year from now.

In a "normal" real estate market, home values appreciate between 2-5% a year (depending on the market). So if in 2010 and 2011 home prices increased 3% per year, the value of that home would be worth exactly what it is today!

Do I think this homeowner received good advice from his Realtor? No! What does this homeowner stand to gain by holding off on listing his home for sale? Nothing, but he will get to pay the carrying costs for the home each month in the hopes of improving his equity position in the home. It's a fallacy to hold off on listing your home for sale in this market. If you must sell your home, get it listed for sale with a good, honest Realtor at a realistic price. This will help to reduce your overall losses on the property.

Now keep in mind, the scenario above is hypothetical. Actuality could be a LOT worse.

Horses are a part of life here in Newtown. It's not uncommon to see people in riding clothes (boots and all) or to see horses around town. There are many horse trails in town - some that cross privately owned land & some follow the old railroad beds. I am not a rider; however, I understand from those who do ride that the trails in Newtown are very extensive and connect into Monroe and Brookfield.

Newtown Bridle Land Association is a non-profit organization dedicated to the preservation and protection of equestrian and passive recreation trails so unique to rural character of Newtown, CT. They have been helpful when I've called seeking information about horse related "things" in town.

The Second Company Governor's Horse Guard is located in Newtown. They celebrating 200 years of history this year. Originally formed in 1808 to "attend upon and escort the Governor in times of peace and war, the 2CGHG now is part of the organized militia of the State of Connecticut, under the direction of the Governor and the National Guard. They often ride in ceremonies, but still do train. The public is always welcome to visit during regular drill hours or events.

Some of the horse facilities in town include:

• Redgate Farms located at 50 Poverty Hollow Road, Newtown
• Astor Place Show Stables located at 50 Poverty Hollow Road, Newtown
• Fox Ridge Farm located at 39 Aunt Park Lane, Newtown
• Rabbit Hill Farm at The Ridge Equestrian Center, 163 Papoose Hill Road, Newtown
• Zoar Ridge Stables located at 5 Morgan Drive, Sandy Hook

There are many private horse properties in Newtown and Sandy Hook where one can board their horse(s). Horse riding lessons are given at different facilities and are even offered through the Parks and Recreation Program.

Email us for horse properties currently listed for sale.

Every year, prospective buyers and sellers ask us "When does the Spring real estate market begin?". Our answer is always January 2nd!

The term "Spring market" is a complete misnomer - a name that doesn't convey its true meaning. According to my calendar, Spring begins in March; however, the real estate "Spring market" begins in January.

Many sellers contact a Realtor in January about listing their home for sale in the "Spring". When we meet with them, we always ask them why do they want to wait to put their home on the market. 9 times out of 10, they respond "for the Spring market", because they believe the "Spring market" begins in March or April.

Buyers view January as the beginning of the Spring market. They want to get out there and find the right home to purchase - right away. It's a New Year - lets find our new home! In the past, we've had many buyers who want to start their new home search right after the New Year - on January 2nd!

Real estate over the holiday season is typically a slow time for real estate. In years past, January 2nd rolls around & it's been a like a BIG SWITCH was turned on. Buyers are ready to go find their new home.

Is buying or selling a home on your resolution list for the New Year? If so, email us right away to get your search underway.

Bob & Richelle Ward, Realtors, ABR
www.connecticuthomesforsale.com

Back in September, I blogged about "Short Sale - What is It?". I think this is useful information as I frequently explain what a short sale is to both buyers and sellers. My intention at the time (although I did not mention it) was to update you from time to time about the number of short sales actively listed for sale in Newtown, CT.

There is a special code on our multiple listing service (MLS) that indicates a possible short sale. I did a search using this code and came up with the same seven houses that were listed for sale back in September. Price range is exactly the same - $299,000 to $1,355,000; however, many of the homes in the range have taken price reductions.

If you have any questions or if you'd like a list of possible short sale properties, Email us!

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818