The Connecticut Wine Trail: Fifth Stop

The fifth stop on our trip through Connecticut’s wine country saw us spending the 4th of July at Litchfield’s Haight-Brown Vineyard. Founded thirty-five years ago, Haight-Brown is Connecticut’s oldest vineyard and was the first to plant Chardonnay and Riesling varietals on the slopes of the Litchfield Hills. Those first pressings earned the winery gold and silver medals at the prestigious Eastern Wine Competition.

Our holiday visit to the winery found us trying several excellent wines worthy of those medals. Some of the best were the Covertside White, a crisp blend of Chardonnay and Seyval Blanc, and their most popular wine; our personal favorite, the Riesling, made from grapes from the Finger Lakes region of upstate New York and an excellent, semi-sweet drink; the Merlot, dry and mellow and a good steak wine, and the Big Red, made from 100% Syrah grapes, full-bodied and spicy and also a good wine for accompanying grilled meat. Another interesting wine was the Honey Nut Apple, an apple wine blended with pure honey and a hint of cinnamon.

Another special treat they had for the holiday was a selection of special Sangrias colored for the occasion, red, white and blue. by far our favorite was the red Sangria, based on one of their estate red wines and very similar to a traditional Sangria. After our wine tasting, we retired to the sitting area with a carafe of Sangria and enjoyed a light lunch. We were joined that day by a friend and fellow Realtor®, Annemarie McPherson and we enjoyed her company immensely.

While enjoying our Sangria, I was surprised to hear someone call my name. I looked for the source and was amazed to find that it was a new Facebook friend, Rose DiCicco. She saw my status update on Facebook about visiting the winery and decided to join us! Just another indication that social media works for meeting new people!

Haight-Brown Vineyard is located at 29 Chestnut Hill Road in Litchfield, CT. Their hours are Monday – Saturday 11AM to 5PM and Sunday 12PM to 5PM; they may extend hours on Fridays and Saturdays if demand warrants. This was one of our favorite stops on the wine trail to date, and surely justifies a visit if you’re a wine lover!

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

The Connecticut Wine Trail: Fifth Stop

Meriden Market Update for July 2010

Here’s the way the housing market is shaping up in Meriden as of July 31, 2010:

There are currently 264 single family homes for sale in Meriden (down slightly from last month):

• Low list price: $34,900
• High list price: $699,000
• Average list price: $203,921
• Median list price: $192,400
• Average Days on Market: 70 (up 56% from last month)
• Homes sold on average for 96.4% of list price (unchanged from last month)

There are 74 homes currently under contract, priced between $39,900 and $389,900. Based on the number of homes sold in July (26), it would take approximately 10 months to sell the current inventory.

As for condominiums, there are currently 116 condos for sale (up slightly from last month):

• Low list price: $31,900
• High list price: $399,900
• Average list price: $137,435
• Median list price: $145,000
• Average Days on Market: 23 (down 71% from last month)
• Condos sold on average for 96.1% of list price (up 2.2% from last month)

There are currently 21 condos under contract, priced between $39,000 and $269,000. Based on the number of condos sold in July (4), it would take 29 months to sell the current inventory.

The following chart shows home and condo sales in Meriden for year-to-date 2010:

Meriden single family home and condo sales were almost mirror images of Wallingford, with single family homes falling about 50% and condos falling 75%.  Mortgage rates continue to stay at their lowest levels in about 40 years, and inventory levels continue to fluctuate, giving buyers excellent opportunities to buy; however, even though buyer activity is strong, making the decision to buy seems to be harder than ever for most consumers. Current economic woes and unemployment threaten to keep the housing market in turmoil, but it’s anyone’s guess how long it will last. Interest rates could begin rising at any time, leaving prospective buyers scurrying to secure a suitable home before rates become unattractive. Some experts say this could happen soon, but we believe rates will stay low for a while still. As usual, only time will tell.

The following chart compares average days on market (ADOM), or how many days it took to sell a home or condo during the month, for the year to date:

As predicted, ADOM continued its see-saw trend of recent months, with homes going up and condos coming down. With the recent big declines in sales both locally and across the US, it looks like ADOM may continue to be erratic at best. There is talk of the government reinstating the home owner tax credit to reinvigorate the market, but it’s only a rumor, and even if it does happen there’s no guarantee that it will have the desired effect, other than to further increase the national debt. That being said, our sales numbers for August are looking very good, so hopefully this wil be the case across the board.

Data used was provided by the CTMLS (Connecticut Multiple Listing Service), and is considered reliable but not guaranteed.

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Meriden Market Update July 2010

Wallingford Market Update for July 2010

Here’s the way the housing market is shaping up in Wallingford as of July 31, 2010:

There are currently 199 single family homes for sale in Wallingford (down slightly from last month):

• Low list price: $45,000
• High list price: $895,000
• Average list price: $322,509
• Median list price: $294,900
• Average Days on Market: 110 (up 77% from last month)
• Homes sold on average for 96.1% of list price (down slightly from last month)

There are 62 homes currently under contract, priced between $126,700 and $999,900. Based on the number of homes sold in July (16), it would take approximately 12 months to sell the current inventory, up 71% from May.

As for condominiums, there are currently 109 condos for sale (up slightly from last month):

• Low list price: $55,000
• High list price: $574,900
• Average list price: $223,132
• Median list price: $205,900
• Average Days on Market: 59 (down 18% from last month)
• Condos sold on average for 95.1% of list price (up slightly from last month)

There is currently 1 condo under contract, priced at $169,000, unchanged from June. Based on the number of condos in July (4), it would take 27 months to sell the current inventory, a dramatic increase of 440% from June.

The following chart shows annual home and condo sales in Wallingford for year-to-date 2010:

Single family home sales dropped dramatically in July, mirroring the poor showing across the country. Condo sales were down even more, falling to a 2010 low of just 4 sales for the month. Interest rates continue to fall to record lows, even dipping into the high 3% range in some areas. It is uncertain how much longer rates will maintain these levels; some experts feel current rates are unsustainable and predict a  rise in rates soon. Unemployment remains high, at almost 10% nationally and just under 9% in Connecticut for July, with no immediate relief in site as businesses continue to shed jobs as fast as others add them. The good news is that buyers are still actively looking for homes, and we currently have 6 homes under contract and scheduled to close in September, and a couple more in October. Short sales continue to be problematic, taking several months to come to fruition and even then sometimes falling apart due to failure of the banks to accept offers below what is owed on the mortgage.

The following chart compares average days on market (ADOM), or how many days it took to sell a home or condo during the month, for the first half of the year:

Average days on market for single family homes skyrocketed in July, while condos fell appreciably. The abnormally high DOM for single family homes was fueled by 3 overpriced homes that were on the market for over 9 months each, and sold for considerably less than asking price. Condo ADOM fell back to slightly under May’s level, but with only 4 sales and unstable inventory, it’s difficult to say if this will carry over to August.

For more market info or to inquire about our services, please call us at (203) 672-4499!

Data used was provided by the CTMLS (Connecticut Multiple Listing Service), and is considered reliable but not guaranteed.

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Wallingford Market Update July 2010

Harriman Real Estate, LLC announces a community open house to be held in Fieldstone Farm on Sunday, August 29th, 2010 from 12 noon to 3 PM, where you will be able to preview several of the homes currently for sale within this beautiful neighborhood. Here are the homes that will be held open:

6 Broadmeadow Road, listed and hosted by Pat Harriman of Harriman Real Estate. Priced at $519,900, this 2,788 square foot “Cheshire” model has an amazing  open floor plan and quality features throughout, including granite counters, a full finished basement and separate office.

25 Broadmeadow Road, listed and hosted by Jamie Ouelette of Coldwell Banker Residential Brokerage. A “Cheshire” Arts and Crafts model boasting 2,495 square feet, this  beautiful home features a first floor master bedroom, hardwood floors throughout and an invisible fence installed on the property. Priced at $520,000.

30 Broadmeadow Road, hosted by Marina Markowski of ERA Property World. This is a “Stonington” model home with 2,536 square feet and features a bright family room and gourmet kitchen with stainless steel appliances. An added bonus is the wonderful view of open space behind the home. Priced at $534,900.

5 Pondside Drive, listed and hosted by Bianca Scala of William Raveis Real Estate.  This “Ashford” model home is priced at $469,900 and has 2,254 square feet, an open floor plan, vaulted ceilings, a loft, first floor master bedroom and a great view of the community’s pond from the rear deck.

We invite you to come say hello and view these beautiful homes in one of the most sought-after communities in Wallingford.

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Fieldstone Farm Community Open House August 29, 2010

The economic environment for mortgage rates was little changed this week. Weaker than expected economic data and continued low inflation supported low rates, and investor demand for bonds remained high. As a result, mortgage rates again ended the week a little lower.

As the economic recovery has lost steam recently, investors are closely watching for signs that growth will slow even more. The economic data released during the week was generally weaker than expected. In a sign that the labor market is not improving, Weekly Jobless Claims rose to 500K, the highest level since November 2009. After a series of positive readings, the Philly Fed manufacturing index surprisingly fell to -7.7. Readings below zero indicate a contraction in the sector. Slower economic growth typically leads to less inflationary pressure, which is positive for mortgage rates.

On Tuesday, a conference was held to discuss the future of Fannie Mae and Freddie Mac, and participants offered a wide range of ideas. While no clear consensus was reached, a few hints emerged about what to expect. Treasury Secretary Geithner suggested that the government should retain a role in providing guarantees for mortgages, but that taxpayers should be exposed to less risk. The Obama administration has announced that it will produce a proposal to address these issues by January 2011. In almost any scenario, changes will be phased in very slowly over a period of many years to avoid disruptions to the housing market.

For expert assistance with your financing needs, call Michele Poulin, Retail Sales Manager at Prospect Mortgage, (203) 440-3745.

Here are this week’s rates:

Friday, August 20th, 2010

All rate quotes are for a 60-day lock with 0 points and a 720 FICO score.

Conforming limits are up to a $417,000 loan limit*

30 yr conforming fixed: rate = 4.375% APR = 4.453%

15 yr conforming fixed: rate = 3.750% APR = 3.825%

5/1 yr conforming ARM: rate = 3.375% APR = 3.448%

30 yr FHA Fixed : rate = 4.370 APR = 4.641%

30 yr CHFA w/ 1 pt : rate = 4.000% APR = (see below)

———————————————————–

CHFA (Connecticut Housing Finance Authority) rates for the week of August 19 – 25 , 2010

Homebuyer Mortgage Plan:

Interest rate: 4.000 % (APR range 4.100 – 4.500%)

Fees: Up to One Point (1% Origination Fee) * Payable to Lender

Term – 30 years, fixed rate

Downpayment Assistance Program (DAP)

(Rate listed is for DAP loans with Homebuyer Mortgage Program financing.)

Interest rate: 4.000 % (APR range 4.100 – 4.500%)

Fees: Up to $2000 Application Fee * Payable to Lender

Term – 30 years, fixed rate

(NOTE: If at any time the interest rate for the Homebuyer Mortgage Program exceeds 6%, the DAP interest rate will be capped at 6%.)

* Additional fees may apply

*Conforming loan limits listed above are for a single-family owner occupied residence.

Courtesy of Harriman Real Estate LLC and Wells Fargo Home Mortgage

*All rates are subject to change. Minimum down payment and credit score requirements may apply. All information provided is deemed reliable but is not guaranteed and should be independently verified .

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Mortgage Rate Update 8/20/2010

Are you ready to move in? This remodeled townhouse is ready for you! Updates include flooring, kitchen counters, some appliances, and it’s freshly painted. There’s also newer windows and water heater, a second floor laundry area, and an assigned carport and storage area. A nice deck off the living room and master bedroom complete this light and bright end unit. Call to check her out today!

For more information or to schedule an appointment, please call Pat at (203) 672-4499!

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Just Listed: 219 So. Broad St. #S207, Meriden CT $93,000

A Day at Connecticut’s Beardsley Zoo

We just started a new Facebook page, 365 Things To Do in Connecticut, and one of the first things we included was Beardsley Zoo in Bridgeport. It’s no coincidence then that we took our granddaughter, Ilissa, visiting from Germany, to see the animals last weekend.

Owned by the Connecticut Zoological Society and located at 1875 Noble  Avenue in Bridgeport, Beardsley Zoo is the only zoo in the state. In 1878, James W. Beardsley, a wealthy farmer, donated 100 acres of land to the city of Bridgeport with the condition that it be kept as a public park. In 1884 Frederick Law Olmsted, the creator of New York’s Central Park, submitted a design for the park, which became Beardsley Park, and in 1921 the zoo was started with donations of animals from Bridgeport residents.

Today, the zoo is home to over 100 species of animals, ranging from birds and amphibians to reptiles, insects and mammals. Some of the more striking exhibits are:

The Timber Wolf:

The Siberian Tiger:

And The Bald Eagle:

Another fun part of the zoo is the Carousel, one of the few left in the state.

To see our entire photo album of the trip to Beardsley Zoo, click HERE.

Here is a map of the zoo in its present layout (click on map to view as a PDF):

The zoo is open daily from 9 AM to 4 PM except for Thanksgiving, Christmas and New Year’s Day. Admission is as follows:

Regular Admission:
Adult Admission (ages 12 & older) = $11.00
Child Admission (ages 3 -11) = $9.00
Senior Admission (62 & older) = $9.00
Under 3 years = FREE
Connecticut Zoological Society Members = FREE

You can follow the Beardsley Zoo on Facebook and Twitter, and they can be reached by phone at (203) 394-6565.

Oh, and did our granddaughter have fun at the zoo?

I do believe she did!

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

A Day at Connecticut’s Beardsley Zoo

AUGUST 2010 Housing Trends Newsletter

Welcome to the most current Housing Trends Newsletter. This Newsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

The Housing Trends Newsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

Please click here to view the AUGUST 2010 Housing Trends Newsletter.

If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

For more detailed information about a specific market area, call Harriman Real Estate at (203) 672-4499 today!

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

August 2010 Housing Trends Newsletter

The Connecticut Wine Trail: Fourth Stop

The fourth stop on our journey through Connecticut wine country took us to the southern Connecticut coast and the gently sloping fields of Chamard Vineyards in Clinton. Established in 1983 by the CEO of Tiffany & Company, William R. Chaney, Chamard Vineyards has been voted “Best Wine” by Connecticut Magazine for 11 consecutive years and stretches across 40 beautiful acres, 20 of which are planted.

We tasted five of their outstanding wines: 2 Chardonnays, a Cabernet Franc, a Merlot, and a Cabernet Sauvignon. We thought the two Chards were outstanding, and this is not surprising since over 80% of their planted acreage is Chardonnay. Their classic ‘04 Chard had lots of ripe, fruity flavors and floral aromas tempered by a touch of oak and was the best we tasted. Their ‘05 Estate reserve Chard was a beautiful golden color and displayed butterscotch, apricot and honey aromas, with dried fruit and honey flavors.

The ‘06 Cabernet Franc was almost decadent, with dark chocolate, cinnamon, smoked bacon and dried fruit aromas, but was very smooth with a long, spicy, herbal finish. It would pair nicely with a nice char-broiled steak, as would the ‘06 Cabernet Sauvignon we tried. There were hints of roasted meat and cedar on the nose, and black pepper and exotic spices on the tongue. The last wine we tried was the ‘06 Merlot, and frankly it was the least appealing of the wines. It felt very light on the palate, despite some nice aromas, and didn’t quite measure up to some other Merlots we have in the past.

After the tasting, we took a bottle of the ‘04 Chardonnay and sat in the rustic tasting room to enjoy the meal we had brought with us, a perfect ending to a great day at one of Connecticut’s outstanding wineries!

Chamard Vineyards is located at 115 Cow Hill Road in Clinton, about 2 miles from Long Island Sound. Their hours are Tuesday through Sunday from 11 AM to 5 PM, except Friday and Saturday when they stay open until 9 PM. Be sure to take one of these great summer days and visit them soon, you’ll be glad you did!

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

The Connecticut Wine Trail: Fourth Stop

Make Your Home More “Sellable”

In case you’ve been living in a cave or doing missionary work in the Amazon for the past few years, you know that the housing market has generally gotten bad. Some would even say brutal. Short sales and foreclosures have become more common, homes have lost value and in many cases languish on the market for months.

There are three main factors that affect the “sellability” of a home: price, location, and condition. Price is by far the most critical of the three; a home that is priced at or slightly below market value is far more likely to sell quickly than an overpriced home. Location is almost impossible to alter, unless you have an empty lot and lots of money and time to spend in relocating a house. For most, it’s not an option. Condition is by far the easiest of the three criteria to influence, and even a little change in the condition of a home can reap rewards.

To assist you in making sure your home is in the best possible shape to sell quickly and for the best price, we are providing a 52-page e-book packed with tips, lists, charts and ideas to make the job a lot smoother. It’s called “450 Ideas To Help Your Home Sell Faster!”, and we have obtained the rights to distribute this book free of charge to anyone who is currently selling or may want to sell their home.

If you’d like to receive these useful e-books to help make selling your home less stressful and more rewarding, simply leave us a comment below with your name and email address and we’ll rush them out to you. Alternatively, you can send us an email with “450 Ideas” in the subject line, or call us at (203) 626-1473 and tell us your name and email address and your e-books will be on their way!

As an added bonus, we’ll also send you a copy of two other handy guides, “Moving With Your Children” and “Moving With Your Pets”. They’re full of great ideas to make the moving experience less stressful for the little ones in our lives!

We’re confident that these guides will prove valuable to you in preparing your home for sale. After you’ve put all these great ideas into practice, we’d be happy to help you price your home to sell and get it on the market. Just call us at (203) 672-4499 or email us at pharriman@harrimanre.com, we’ll be ready when you are!

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Make Your Home More “Sellable”