Attention Buyers: This is an AS-IS sale, subject to probate court approval! For more information, please call listing agent Pat Harriman at (203) 605-3873 today!

Needs Work, But Worth the Effort! Probate sale

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Courtesy:

Harriman Real Estate LLC

203-672-4499

pharriman@harrimanre.com

Licensed In:
CT

380 Swain Ave

Meriden, CT 06450

Bedrooms: 3

Bathrooms : 1 (1 full)

List Price: $119,900

Living Area Approx :
1158

This home is being sold as is and subject to Probate Court approval. Town says its a 3 bedroom but there are no closets in the second floor bedrooms. Fireplace, first floor laundry, oversized 2 car garage with walk-up attic. Large lot.

Feature List:

MLS#: N322452

Lot Size: 0.68

LstArea: Meriden

LotSizeAcres: 0.68

BathsFull: 1

TotalRooms: 5

Stories: 2

KitchenPresent: Yes

BasementDescription: Partial Basement, Unfinished

FireplaceFeatures: In Living Room

Garage: 2

HeatingFeatures: Oil, Warm Air

CoolingFeatures: Individual Unit(S)

IntFeatures: Carpeted, Vinyl Flooring; Cable TV Available; Laundry is on First Floor; SECOND BEDROOM: On the Upper Level; THIRD BEDROOM: On the Upper Level; Attic Hatch Opening; 1 Full Bath(s) on First Floor; LIVING ROOM: Fireplace; MASTER BEDROOM: First Floor; KITCHEN: Eating Space Kitchen

Inclusions: Dishwasher, Oven/Range, Refrigerator

ExtFeatures: Asphalt Driveway

Exterior: Wood

LSAcresRangeHalf: 0.68

Topography: Lightly Wooded, Sloping

UtilitiesPresent: Public Sewer Connected, Public Water Connected

ElementarySchool: Per BOE

HighSchool: Per BOE

BasementPresent: Yes

FireplacePresent: 1

LaundryRoomPresent: Yes

MasterBedroomPresent: Yes

ParkingFeatures: Detached

EnergyInformation: Partial Storm Windows

AdrDisplay: Address display

LivingRoomPresent: Yes

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

New Listing: 380 Swain Ave, Meriden CT 06450

How’s the Market? Wallingford and Meriden CT November 2011

The Wallingford and Meriden saw some changes in November, as Wallingford saw increased sales while Meriden sales were down, but sale prices were mixed and inventory was down across the board.

Wallingford

The number of available homes in Wallingford decreased by 10% in November to 252, the lowest number since last February. Wallingford single family homes sold faster in November than at any time during the year, averaging just 67 days to sell, but the condo market was languishing, with the typical condo taking just under 6 months to sell. The good news is this is the second consecutive month of improvement in that area. Conversely, the average selling price for condos jumped by over $5,500 last month, while single family homes were selling for about $2,000 less than the prior month. Interest rates remain at historically low rates, at or below 4% for conventional loans and an amazing 3.375% for first time home buyer. One thing we’ve noticed is that rental properties are becoming much more in demand, and we’re getting just as many inquiries about our rentals as we are our homes for sale. Some homeowners who are having difficulty selling are now turning to renting their homes for added income, and for buyers who are unable to afford a big down payment or have less than stellar credit, this is suiting them just fine.  We expect this trend to continue, and sales should level off in December before getting its second wind after the New Year.

Meriden

The number of available homes for sale in Meriden also dropped in November, but not as much as Wallingford, falling about 4.5% to 322 units and keeping Meriden firmly in a buyer’s market. Sales were down only slightly, which is encouraging in a winter market, and we are confident that these numbers won’t change significantly going into 2012.  Just as in Wallingford, average sale prices fell for single family homes and rose for condos; however, while condos were selling a little faster than they did in October, single family homes took a little longer to sell. And like Wallingford, rentals are also becoming more sought after in Meriden as cost-conscious consumers look for alternatives to buying until the economy improves.

 Summary

Wallingford and Meriden both saw a drop in inventory, but sales in Wallingford increased while Meriden sales fell in November. Total sales for both communities in November were 65 units, an 18% drop from November 2010. Overall, single family homes are selling for slightly less than in October but selling quicker, while condos are selling for significantly more but selling at a much slower rate. Wallingford’s market improved to a balanced one, with just over 8 months of available inventory, while Meriden’s market declined ever so slightly but stayed firmly in a normal buyer’s market with about 9.5 months of inventory. If you’re selling a home in Wallingford, properties priced between $200,000 and $300,000 are selling the best, while anything priced over $300,000 are moving very slowly. In Meriden it’s the homes priced in the $100,000 and under range that are selling the fastest, anything priced higher is taking up to a year or more to sell. We’re hoping December ends on a high note for sales and that that momentum can carry over into January and beyond.

For more information on the Wallingford and Meriden housing markets, call Harriman Real Estate today at (203) 672-4499, email us at info@harrimanre.com, or visit our web site at www.harrimanre.com!

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How’s the Market? Wallingford and Meriden CT November 2011

Meriden Market Update for May 2011

Here’s the way the housing market is shaping up in Meriden as of May 31, 2011:

There are currently 261 single family homes for sale in Meriden:

• Low list price: $29,900
• High list price: $575,900
• Average list price: $198,092
• Median list price: $189,900
• Average Days on Market: 90
• Homes sold on average for 93.8% of list price

There are 76 homes currently under contract, priced between $35,000 and $449,900. Based on the number of homes sold in May (38), it would take approximately 7 months to sell the current inventory.

As for condominiums, there are currently 101 condos for sale:

• Low list price: $37,000
• High list price: $399,900
• Average list price: $132,972
• Median list price: $137,900
• Average Days on Market: 128
• Condos sold on average for 98.2% of list price

There are currently 25 condos under contract, priced between $42,900 and $220,000. Based on the number of condos sold in May (6), it would take approximately 17 months to sell the current inventory.

Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:

The number of Meriden homes for sale rose in May, but sales posted nice gains, with single family homes increasing by 41% and condos by 50%. Interest rates saw a slight increase as well, except for CHFA rates for first time home buyers, which remained unchanged. In addition, the state raised the real estate conveyance tax that sellers pay on the sale of their home to .75% of the first $800,000 and 1.25% of anything over $800,000. It will be interesting to see if June closings see a major rise in an attempt to avoid sellers paying the additional tax, which goes into effect July 1st. The other major bill under consideration, QRM or Qualified Residential Mortgages, which would raise the required down payment to 20% on the purchase of a home, is still being debated.

The following chart compares average days on market, or how many days it took to sell a home or condo year-to-date:

Average days on market fell for single family homes in may, but rose sharply for condos due to two units that sold that had been on the market for almost a year each, which artificially affected the entire category due to the low number of sales. Inventory rose across the board in May, and this might cause days on market to remain high, especially once the increased conveyance tax law kicks in.

Meriden Properties For Sale

(zoom out to see more properties)

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

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UPDATE: This home is SOLD! (6/30/10)

Charming and tastefully decorated Colonial on Meriden’s East Side. Large living room with bay window, updated kitchen and dining area, open staircase and remodeled baths. Hardwood and tile floors. There is a patio overlooking the lovely, fenced yard. Agent related to owner.

For more information or to schedule an appointment, please call Sue Farone at (203) 214-0507, or email her at sfarone@harrimanre.com!

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New Listing: 167 Sunset Ave., Meriden CT $171,900 – SOLD!

UPDATE: This property has been rented and is no longer available.

Beautiful brick home with energy efficient features. Home has new propane heating system and electric heat backup, newer thermopane windows, 2 fireplaces and a whole house fan. Gleaming hardwood floors, a 3 car gar, deck and nice level lot round out this wonderful home. Walkout lower level adds 346 sf of livable space.

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

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Just Relisted!: 463 Swain Ave., Meriden CT $239,900

Meriden Market Update for February 2010

Here’s the way the housing market is shaping up in Meriden as of February 28, 2010:

There are currently 256 single family homes for sale in Meriden (up 8% from January):

• Low list price: $17,500
• High list price: $1,599,000 (yes, million)
• Average list price: $221,480
• Median list price: $207,750
• Average Days on Market: 80 (up 167% from January…ouch)
• Homes sold on average for 94.2% of list price (down 3% from January)

There are 86 homes currently under contract, priced between $30,000 and $439,900. Based on the number of homes sold in February (19), it would take approximately 13 months to sell the current inventory.

As for condominiums, there are currently 114 condos for sale (up 10 from January):

• Low list price: $31,900
• High list price: $399,900
• Average list price: $130,081
• Median list price: $133,900
• Average Days on Market: 86 (up 41% from January)
• Condos sold on average for 95.6% of list price (up less than 1% from January)

There are currently 23 condos under contract, priced between $54,900 and $189,900. Based on the number of condos sold in February (8), it would take 14 months to sell the current inventory.

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

Home sales dropped in Meriden by 21% in February, mirroring many other local and national markets. The tax credit and low interest rates didn’t seem to motivate too many people to buy last month, but that may change in March, especially since the tax credit is about five weeks from expiring and there has been no indication that it will be extended.

Condo sales also dropped, by almost the same margin as single family homes, 20 percent. This, along with the 11% increase in inventory, means the time it would take to sell off all the available condos also increased, by 40%. Again, with so many homes to choose from, it seems like people are taking their time to find a good deal in Meriden. And there are plenty to be had.

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 two months of the year:

As you can see, both single family homes and condos took longer to sell in February than January, but unlike Wallingford, the biggest increase in selling time was in single family homes. It appears that, although people are getting back into the buying arena, there is still plenty of inventory and buyers are not rushing into anything. We’ll see if that holds true as the tax credit expiration date approaches.

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

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Beautiful brick home with energy efficient features. This move-in ready home has new propane heating system and electric heat backup, newer thermopane windows, 2 fireplaces and a whole house fan. Gleaming hardwood floors, a 3 car gar, deck and nice level lot round out this wonderful home. Walkout lower level adds 346 sf of livable space. Call Pat at 203-672-4499 for more info.

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Just Listed: 463 Swain Ave., Meriden CT

The Meriden housing market rose sharply in October, with single family home sales rising 42% and condo sales actually doubling from 9 to 18 units sold. Median sales price and average sales price for single family homes both fell slightly, but average days on market rose by more than 50%. The inventory levels are down by about 24% from last October.

The condo market was very similar in every respect, with even larger decreases in median and average sales prices, and a larger increase in days on market. It appears that investors are beginning to take advantage of the low interest rates and still falling sales prices. As we expected, the Home Buyer Tax Credit was passed this month and was extended to include move-up buyers as well as first timers. This bodes well for home sales through the normally quiet 4th quarter up until the credit expires at the end of April 2010. We expect to see sales continue to rise through the end of the year, especially if prices continue to fall and interest rates remain in the mid to high 4 percent range. Any improvement in unemployment rates, now at about 10.2% in Connecticut, would be an added bonus.

Here’s the comparison of the last three months:

For the purposes of housing market info, it is usually considered to be a seller’s market when there is less than 13 weeks of inventory on the market; 13-26 weeks of inventory is considered a balanced market, and more than 26 weeks indicates a buyer’s market.

Data used was provided by the CTMLS (Connecticut Multiple Listing Service).

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Meriden Market Update October 2009

The Meriden housing market continued on a slight downward trend for September. New listings, pending sales and sold homes were again down slightly, but average days on market managed a significant drop. The condo market also saw some lower stats for the month but, just as in the single family market, average days on market was down considerably.

Some of the slowdown in the market was probably due to the approaching expiration for qualifying for the $8000 tax credit. There has been increasing talk recently about the possibility of the tax credit being extended and expanded to include move-up buyers, and this seems to have put many buyers in “wait-and-see” mode until a decision is made on the status of the tax credit. At this writing, it looks as though the credit will, indeed, be extended and expanded, but what the new criteria will be and when it will be signed into law still remains to be seen. If it is made law, we expect to see another uptick in market performance as the people on the fence get back into the house-hunting game. Also, current homeowners who have thought about selling and buying something else may also throw their hat into the ring, as they’ll now have more incentive to make a move. The normally quiet 4th quarter of the year may turn out to be quite interesting.

Here’s the comparison of the last three months:

*** = No stats due to no sales.

For the purposes of housing market info, it is usually considered to be a seller’s market when there is less than 13 weeks of inventory on the market; 13-26 weeks of inventory is considered a balanced market, and more than 26 weeks indicates a buyer’s market.

Data used was provided by the CTMLS (Connecticut Multiple Listing Service).

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

Meriden Market Update September 2009

The Meriden housing market flattened out a little in August, after a couple of months of nice gains. New listings, pending sales and sold homes were all down slightly, and average days on market rose sharply due to some older inventory closing. The lower price points are more and more seeing multiple offers, and cash buyers and investors are starting to scoop up the bargains.

The condo market mirrored the performance of single family homes, with new listings, pending sales and sold condos all lower for the month. Also, just as with single family homes, the average days on market rose quite a bit, skewed by sales of older inventory. Absorption rate for both houses and condos rose evr so slightly, but not enough to cause alarm.

The $8000 tax credit seems to have generated a good number of sales, but that looks to end soon as the credit is set to expire on November 30th, with no extension in sight. The drop dead date for getting a home under contract is rapidly approaching, and it is the feeling of some experts that mortgage lenders will be swamped with last minute business as the deadline gets closer. This could result in some buyers being shut out of getting their tax credit as their closing dates are pushed past the November 30th deadline.

Here’s the comparison of the last three months:

*** = No stats due to no sales.

For the purposes of housing market info, it is usually considered to be a seller’s market when there is less than 13 weeks of inventory on the market; 13-26 weeks of inventory is considered a balanced market, and more than 26 weeks indicates a buyer’s market.

Data used was provided by the CTMLS (Connecticut Multiple Listing Service).

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

Meriden Market Update August 2009