I went golfing this week at Lake of Isles. Quite often my camera is better than my golf clubs. These were my best shots of the day.
I went golfing this week at Lake of Isles. Quite often my camera is better than my golf clubs. These were my best shots of the day.
You need to take a look back to 2008 to find a home in Ledyard that sold for over $400,000. Last week a sale was recorded in Ledyard for $410,000, a home on Shewville Road on 6 acres. So far this year, the average (and median) sales price in Ledyard is about $230,000, similar to prices in 2003.
There were 11 new listing last week in Ledyard as inventory begins to creep up again, but I can report 2 pending sales and 4 closed sales.
Interest rates remain simply amazing!!
The chart above provided by Altos Research depicts Ledyard residential inventory.
Ledyard Real Estate - Week of July 19th
Number of Ledyard Homes Currently Pending: 24
Number of Homes Sold in 2010: 70
There were 149 residential home sales in Ledyard in 2009.
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.
The highest priced home to sell in 2009 & 2010: $410,000
Listing and sales reported by the members of the Connecticut Multiple Listing Serve, Inc and may not represent all sales.Information deemed reliable but not guaranteed.
According to Realty Trac, Ledyard has 27 bank foreclosures
plus 24 additional properties in pre-foreclosure.
If you own a condominium or are thinking about buying a condominium in Ledyard or Gale Ferry, please check with us to see if the condominium complex is approved by the various agencies that insure or guaranty mortgage loans. FHA, VA, FNMA and Freddie Mac all have approved condominium lists. CHFA now requires that their condominium loans have FHA insurance or a VA guaranty.
It is not usually that hard to obtain the approvals but it does involve some work on the part of the association or the management company to gather the necessary paperwork, budget & insurance documents.
In a time period where sellers want to be able to sell their real estate when they want to do so, it is well worth putting the time and effort into obtaining the necessary condominium approvals. We at McCue Mortgage Company have staff to help you with this. Please contact me to get started.
Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil. You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.
Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.
Who says Photo Friday has to be on Friday? Isn’t it still Friday somewhere?
This photo needs no explanation except for a big awwwwwww. I’d love to take credit for it but I can’t. Thank you to Susan who for many years was the friendly face that greeted you when you walked into RE/MAX Realty Group. Enjoy your retirement and feel free to share your great photos anytime here on Ledyard Photo Friday.
There were no pending sales in Ledyard last week. The number of homes currently listed in Ledyard that have had price reductions has reached almost 50%, as another 14 homes reported price reductions. It really is hard to find good news in those statistics. Predictions for the housing market nationwide add to the doom and gloom as the majority of economists surveyed predict a further decline in home prices.
So what’s a seller to do? Interest rates are low, houses are being shown, and some are selling, just not as many as we would all like. I know I sound like a broken record but great condition and a compelling price are important. With most buyers starting their home search online, it is also helps to have really good photos.
The chart above provided by Altos Research depicts Ledyard residential inventory.
Ledyard Real Estate - Week of July 12th
Number of Ledyard Homes Currently Pending: 27
Number of Homes Sold in 2010: 66
There were 149 residential home sales in Ledyard in 2009.
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.
The highest priced home to sell in 2009 & 2010: $386,000
Listing and sales reported by the members of the Connecticut Multiple Listing Serve, Inc and may not represent all sales. Information deemed reliable but not guaranteed.
According to Realty Trac:Ledyard has 28 foreclosures plus 33 properties in pre-foreclosure
Besides great ice cream, Buttonwood Farm in Griswold is known for Sunflowers for Wishes. With acres of sunflowers planted for a good cause, it is a photo opportunity for professionals and amateurs like me. Sunflowers can make even an amateur look good. You can find more of my Buttonwood Farm photos on my Buttonwood Set on Flickr.
When I created my Ledyard Business Page on Facebook, I never dreamed it would be such a great resource. Yesterday I posted the question “Anyone have the scoop? Village market has a sign "Excuse our appearance, under new management?"”
I had my answer in 17 minutes.
From the buzz of discussion, I learned that the new store would be Starwood Market, and the owner is out of Norwich. That’s all I know for now but I’m sure my Facebook friends will enlighten me if there is any new info.
Under New Management
With mortgage rates being so low right now and house prices having settled down, this may be the best time in years to buy a home in Ledyard or Gales Ferry.
Mortgage rates in 2006 averaged 6.5% for a 30 year fixed rate mortgage loan. At 6.5% a $200,000.00 mortgage loan had a principal and interest payment of $1,264.00 per month. That same $200,000.00 mortgage loan in July, 2010 would have a rate of 4.75%. The payment for principal & interest would be $1,038.00, a difference of $226.00 per month or $81,360.00 over the 30 year life of the loan.
Take that information and factor in the difference in house prices ( I'll let Linda provide that information) between 2006 and 2010 and I believe that you will agree that this may be the time to make your move.
I look forward to helping you with your mortgage financing questions and needs.
Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil. You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.
Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.
I did a double take, put on the brakes, then turned around to capture this one. I think it is a great message for Ledyard Photo Friday.
I don’t often stray too far off the topic of Ledyard or real estate here, but today I am going to make an exception. The weather has been hotter than usual in Connecticut, and people are using their pools and heading to the beach in greater numbers than in a more typical summer.
The article excerpted below may surprise you. It did me. Please take a minute to read about what drowning really looks like.
Please. It could save a life.
Drowning is almost always a deceptively quiet event. The waving, splashing, and yelling that dramatic conditioning (television) prepares us to look for, is rarely seen in real life.
via mariovittone.com