Danbury, CT Real Estate News

By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate UpdateFebruary, 2007 Closed home sales in Danbury, Connecticut: Single Family Homes:In February of 2007, there were 25 single family home sales closed in Danbury, CT.List Prices ranged from $257,500 - $999,999.Closed Sales Prices ranged from $246,000 - $950,000. The average closed real estate sales price for single family homes in Danbury for the month of February was $379,203.  The median closed real estate sales price was $342,000.On average, these homes sold for 98% of their list price.Days on Market ranged from 12 - 328 days, with the average being 130 days of market time. This compares with 18 closed sales in February, 2006, with an average closed sales price of $455,897 and a median closed sales price of $430,000. Condos:In February of 2007, there ...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut, has proposed a $191.4 Million budget for next year.  Slightly more than 55% of this budget is for education. This represents a proposed $13 Million increase in spending, including a 6.1% increase for education, which results in an approximately 1% increase in property owners' tax rates, or about 15 cents additional per $1,000 of assessed value.  This increase in spending will fund several new initiatives, including new staff, equipment and training for the police and fire departments.  The budget proposes 10 new firefighters for the new westside fire station, and 15 new police vehicles. This budget proposal assumes that additional funds will come to the city from the state's current proposed budget.  It is not yet known if the state budget will pass, or if local to...
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By Alexandra Edwards
(Prudential CT Realty)
Danbury, CT Condo For Sale61 Kohanza Street174,000First time buyers! Here's your home.2 bedrooms, 1 bath TownhouseLiving RoomDining RoomKitchenNew Windows and storm doors 2006Newer CarpetsGreat Value  Come and see this Condo that is a great value. Its close to shopping area and near downtown Danbury. Easy access to I84. This condo boasts new windows and storm doors in 2006.GO SEE AND SELL!!!   
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By Dana Voelzke, Loan Officer/ First time home buyer specialist
(loanDepot (203) 733-9408)
Here's a summary of the statistics for the Greater Danbury market for 2006. If you would like to see the graphs and charts with market data for your specific town, send me your email and I'll forward it to you. Prices in Northern Fairfield/Southern Litchfield County saw a modest decline last year. Also, the number of sales in 2006 fell significantly, for the second straight year in some towns, and was the worst year since 1996. On average, about 60% of the homes to hit the market last year did not sell at all, and a growing number of sellers are either waiting or attempting to renting their homes.The average price of a single family home in two of the largest towns in our area, Danbury and New Milford, declined only slightly (-0.4%) in 2006 compared to 2005. Some of the other towns such...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
Danbury, Connecticut Real Estate UpdateJanuary 2007 Closed home sales in Danbury, Connecticut: Single Family Homes:In January of 2007, there were 25 single family home sales closed in Danbury, CT.List Prices ranged from $160,000 - $725,000.Closed Sales Prices ranged from $128,000 - $715,000. The average closed real estate sales price for single family homes in Danbury for the month of January was $375,000.On average, these homes sold for 96% of their list price.Days on Market ranged from 36 - 460 days, with the average being 153 days of market time. However, homes that were priced correctly for the market sold for 97% - 100% of their list price. This compares with 30 closed sales in January, 2006, with an average sales price of $393,000. Condos:In January of 2007, there were 30 condomin...
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By Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate
(Fab Real Estate)
When sellers and their agent are determining at what price to list their home for sale, it is important to remain realistic about the market and the home's current market value. Price your home too high and buyers and their agents will probably ignore your home, or use it to sell other, better-priced homes.  If the home does sell at too high of a price, then it may not make it through the appraisal phase of the contract.  If the home cannot appraise at the purchase price, then the buyers may not be able to obtain financing.  Assuming there is an appraisal contingency in the purchase contract, this leaves the buyers three options:  Negotiate with the seller down to the appraised value Pay the difference in cash at closing between the appraised value and the purchase price, creating immed...
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