Stirling, Burland & Edmands

Snap Shot of the Real Estate Market in Madison and Guilford CT December 31, 2008

Tom Burland www.Ct-Shore-Homes.com

The following is a snap shot of the Madison CT and Guilford CT Residential Single Family Home Real Estate Market Activity. It lists total homes on the market including currently not under contract (active), Under Contract and Closed. The summary data includes all homes under contract and those that have closed since December 1, 2008.

With interest rates dropping significantly we seem to be seeing an up tic in activity particularly in the price segments under $500,000 and most notably in the homes listed under $400,000. This is certainly a healthy activity indicator because as the lower price segments start to free up, the sellers of those homes are now in the position to "buy up."

Over 34% of the inventory under $300,000 was either closed in December or is currently under contract. It also interesting to note the large availability of homes in Madison and Guilford that are under $500,000.

If you are in the market for a Home in the Connecticut Shoreline please visit our website at www.Ct-Shore-Homes.comand look at our inventory and also use our free MLS search to look at all the listings on the market. Please give us a call at 203-645-0602 to discuss your goals and the current market.

If you are looking to place your home on the market also visit our website www.Ct-Shore-Homes.com and get a sense of the market and our approach to marketing your home. Give us a call for a Market Analysis and Comprehensive Marketing plan at no cost or obligation.

Home Buyer Insights

Tom Burland www.Ct-Shore-Homes.com 203-645-0602

I was recently having a coffee with another Realtor in the area comparing notes on the market and buyer's insights on listings. In particular higher end listings that several out of town buyers had seen. One was a corporate relocation the others were people looking for a summer home near the water.

The corporate relocation couple's feed back was that they had seen several homes for sale in Madison and Guilford CT that were priced a bit on the high side, had some very attractive benefits to them but each required cosmetic work. Given the market and choices they were surprised that people were asking a premium and expecting the buyers to do work on the house. While they know they need to do the personalization, they want to add to what is there, not have to pull wall paper down, paint chipped trim etc. One spouse even remarked "I am being relocated from friends and family I don't want to pay top dollar for a home and then have to put more into it...I want turn key."

The buyers looking at million dollar plus real estate were surprised when the walked into several premium homes in exclusive waterfront communities and noticed messy closets, laundry rooms piled wiith cloths, and an untidy feel. It wasn't that these homes were not clean, just untidy and that was enough to turn these buyers off. In other communities they previewed most of the homes were staged and it looked as if a maid just went through the homes because they sparled, so it was not just what they saw it is what they compared it to.

It makes you think, if we are in a crowded real estate market why wouldn't we make the product shine by creating a magnificant presentation wowing buyers as they walk in? It is an effort, but it might just sell faster.

Connecticut Shoreline Small Business Assistance

Tom Burland www.Ct-Shore-Homes.com

The Connecticut Shoreline is home to numerous small and mid size businesses that drive the local economy. These business are supported well by local government and have a very valuable service at their service to assist with their business launch, growth, challenges....SCORE a nonprofit association dedicated to the success of small business in America.

I have been lucky enough to be associated with this fine group of retired business executives for the past 2 years. Our main office is in Old Saybrook and we have local groups working out of Madison/Guilford, Old Saybrook, Mystic, Gales Ferry, Norwich. We also sponsor a series of Seminars throughout the region, our 2009 series will be sponsored by Liberty Bank.

As a local business person, and former corporate executive myself, I truly enjoy working with business owners as they work through numerous opportunities. The old saying "It's lonely at the top" is never more evident than for the small business owner. Having a group of accomplished executives to tap into for a sounding board, advice and council is a tremendous resource for these leaders.

Visit www.SoutheasternCtScore.org

Madison CT Town Profile

Madison Connecticut is home to the state of Connecticut's largest public beach at Hammonasett State Park. Hammonasett is a 930 acre recreation facility incorporating beaches, playing fields, camping, hiking, and a fantastic nature center. Madison also has a tremendous town beach at the Surf Club, which also houses playing fields, picnic grounds, sail boat and kayak storage, as well as being home to the Daniel Hand High School Varsity Sports programs where perennial State Title Contenders play. There is nothing like Madison's version of "Friday Night Lights" at the Surf Club.

Some Town Facts

• Population - 18,673
• House Holds -6733
• Average Age - 43
• Median Household Income $109,924
• School Enrollment - 3,807

More community information on www.Ct-Shore-Homes.com

By Tom Burland

www.ct-shore-homes.com

Madison's Daniel Hand High School has recieved Silver Medal Honors. US News & World Report in collaboration with Schools Evaluation Services analyzed academic and enrollment datat from more than 21,000 public high schools around the nation. Daniel Hand HS ranked very high on that list with outstanding results across the board. For more information click http://www.usnews.com/listings/high-schools/connecticut/daniel_hand_high_school