Tom Burland

Selling a House on the Connecticut Shoreline - Why hasn't my house sold?

Tom Burland - Coldwell Banker www.Ct-Shore-Homes.com tom.burland@cbmoves.com

There are so many homes for sale in Madison CT, Guilford CT, Clinton CT and Killingworth CT that you need to nail the 4 P's of home sales. The current inventory of houses on the market would take over 12 months for every house to sell if no new houses were put up for sale - based on recent trends - this is called absorption rate. In some price segments it is over 2 years of inventory.

With this news why would you put your house up for sale? The short answer is Houses are Selling and Buyers are Buying across the board....but you have to get the Marketing Right.

The 4 P's of Home Sales are

• Price - no matter what anyone says Price is the number one reason homes do not sell.
• Product - your house is a product, in fact a commodity - it is being judged relative to everything else on the market. Location; Style; Condition all make up the "product"
• Presentation- this is how your house looks to potential buyers both on-line and in-person: Cleanliness; Freshness and Staging are all critical components.
• Promotion- Internet Presence (over 80% of buyers start their search on the Internet); Print media (although a diminishing impact); open houses and target mailings.

All four are critically important, and having a professional assit you will make a difference - of course that is only if you listen to them. Focusing on 1 or 2 of the above won't get your house sold.

Give me a call at 203-645-0602 if you are thinking of putting your house on the Market.

Should you focus only on Short Sales?

Tom Burland Realtor-Coldwell Banker - www.Ct-Shore-Homes.com tom.burland@cbmoves.com

In a recent conversation with a client looking for a home in Madison Ct, they mentioned they wanted to search solely for Short Sale and Foreclosures. When I aske why, they said those are the bargins in the market. While true that many of these represent an opportunity to get a good value, it should not be the only focus.

My explaination to the client was that this approach could overlook some great values on the market. The best example I could come up with was the following:

Two home owners purchased their homes at the same time 2 years ago, both paid $325,000 for the house and both houses were identical in every way. Homeowner A put $200,000 down and held a a $125,000 mortgage. Homeowner B put $25,000 down and financed $300,000.

Recently both put their homes on the market at $290,000. Homeowner A's home is a traditional sale and Homeowner B's home is a Short Sale. Why is Home B a better value?

In addition there are additional approvals steps for an offer to be accepted which can cause other opportunities to be passed on and no guarantee that the deal will be accepted.

Point being, don't just focus on short sales, keep them in the mix but look for values. Also remember that value can be viewed as total cost of ownership, including the improvements you will need to make post purchase.

Tom

Madison Connecticut Real Estate Market

Tom Burland tom.burland@Ct-Shore-Homes.com www.Ct-Shore-Homes.com

Real Estate activity in general declined in October across the region as economic concerns and the Presidential election took center stage and had consumers pausing. However, the bright spot was that closings in Madison were higher this year verses last year. In October Home Sales (closings) were 20 verses 14 in 2007. Median sales price was down also, reflecting primarily the market segment that is moving (more first single family homes) and secondarily the price declines.

The good news for the market was several large financial institutions announced they are launching a program to assist troubled mortgage holders in re-financing to stay in their house and avoid foreclosure, and that is good news for most people in the housing market - as inventories drop because distressed sellers no longer need to sell to get out from under an unaffordable mortgage prices will stabilize and the market will level out.

In the mean time, buyers who can afford to purchase a home sill have the benefit of the lower home prices and great interest rates.

To learn more about the local market visit our website newsletter http://www.ct-shore-homes.com/newsletter.html and click through to town details. You can sign up for our e-newsletter which is published each month by clicking http://www.ct-shore-homes.com/newslettersignup.html .

Tom Burland

Interesting things to do in Madison CT

Tom Burland www.Ct-Shore-Homes.com

As the weather turns and the days grow shorter, many people begin to search for interesting things they can do in their leisure hours. With the election finally here, what will you swing your conversations to. You can always read a new book and Madison is lucky to have one of the best independent book stores in the Country...RJ Julia Book Sellers at 768 Boston Post Rd.

Roxanne Coady (owner) always has an interesting slate of lectures and meet the author events. Check out http://www.rjjulia.com/upcoming-events/ for the latest schedule.

Tom

Madison CT Open House Sunday October 26th from 11 am to 1 PM Price $649,000

Madison Custom Colonial For Sale

Tom Burland http://www.ct-shore-homes.com/, TomBurland@Ct-Shore-Homes.com

Coldwell Banker, 752 Boston Post Rd Madison CT 203-645-0604

Address: 749 Green Hill Rd, Madison

Bedrooms: 4

SqFt: 3400 - included finished lower level

Price: $649,000

If you enjoy luxury in a private setting but look to be close to town, shoping and beaches this custom colonial is for you. The Gourmet kitchen is equiped with a Viking 48" six burner stove and oven; a SubZero; custom cabinets and granite counter tops. A large family room with fireplace sits in its own wing with full bath, three season porch overlooking a professionally landscaped yard with inground pool.

For more information call Tom on 203-645-0602 or visit our website at 749 Green Hill Rd