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Old 11-16-2018, 09:45 PM
 
Location: Coastal Connecticut
14,870 posts, read 18,186,178 times
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Quote:
Originally Posted by kmarc View Post
I follow a real estate blog that deals with Fairfield County. I gather that higher end properties are dropping like rocks, while the "lower end" (below 2 million) is bidding up. True?
Sort of. But if you look by location itís not as simple. South of 95, near the train and downtowns of these areas, even the $2 million+ market can be pretty strong. Itís the big estates in the more wooded areas that have suffered.
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Old 11-16-2018, 10:49 PM
 
Location: Coastal Northeast
15,894 posts, read 22,210,655 times
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Quote:
Originally Posted by Stylo View Post
Sort of. But if you look by location itís not as simple. South of 95, near the train and downtowns of these areas, even the $2 million+ market can be pretty strong. Itís the big estates in the more wooded areas that have suffered.
Do you have data to say these ďdowntownĒ 2m+ listings are strong, or is this mostly empirical data? I ask because every statistic says 2m+ properties in FFC are suffering. Maybe the listings closer to downtown are selling a bit faster, but are they really ďstrongĒ?
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Old 11-17-2018, 12:04 AM
 
Location: Connecticut
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Quote:
Originally Posted by Stylo View Post
Sort of. But if you look by location itís not as simple. South of 95, near the train and downtowns of these areas, even the $2 million+ market can be pretty strong. Itís the big estates in the more wooded areas that have suffered.
I think it is south of the Parkway actually. I know someone that builds $1 million tear downs in Fairfield that are selling as fast as he can build them. He mostly builds in Lake Hills or Fairfield Woods and that is north of I-95. These are in established neighborhoods near Black Rock Turnpike where lots are smaller (1/2 acre or less). It seems to be those bigger homes on bigger lots (over an acre) that struggle more to sell but even there, if the homes are in good condition and well priced, they will sell.

As far as reaching $2 million, again you have to be giving them a top product in a top location. That may be happening in places like Southport, Greens Farms, Longshore, Saugatuck or southern Darien and Greenwich. Maybe even Shippan in Stamford. Jay
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Old 11-17-2018, 12:10 AM
 
Location: Connecticut
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Quote:
Originally Posted by kidyankee764 View Post
True but our beach cottage in Clinton would easily be $150k-200k more in OS. Still dirt cheap in comparison to towns west.
I wonder why that is? I know Clinton is more working class but still that is a significant difference. Old Saybrook does get a LOT of Hartford area second home buyers but Clinton is right next to highly desirable Madison. Makes me wonder too. Jay
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Old 11-17-2018, 06:10 AM
 
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Quote:
Originally Posted by kmarc View Post
Sounds like Clinton is something of a sleeper.
9.9% poverty rate. $30.54 mill rate. The school system with that kind of poverty rate is going to be an issue. The property tax rate driven by the people in low income housing with children in the school system makes it less attractive as a vacation home spot. The demographics for household income and education are pretty good so there are a lot of commuters there attracted by the housing prices.

My life experience is that towns like that have large corrections in recessions. Itís a place you buy at the bottom of the market. I donít have a crystal ball but Iíd be reluctant to buy in a town with those demographics now.
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Old 11-17-2018, 09:45 AM
 
Location: Coastal Northeast
15,894 posts, read 22,210,655 times
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Quote:
Originally Posted by GeoffD View Post
9.9% poverty rate. $30.54 mill rate. The school system with that kind of poverty rate is going to be an issue. The property tax rate driven by the people in low income housing with children in the school system makes it less attractive as a vacation home spot. The demographics for household income and education are pretty good so there are a lot of commuters there attracted by the housing prices.

My life experience is that towns like that have large corrections in recessions. Itís a place you buy at the bottom of the market. I donít have a crystal ball but Iíd be reluctant to buy in a town with those demographics now.
Nah - the majority of poverty in Clinton is elderly. Lots of limited income elderly complexes.
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Old 11-17-2018, 02:41 PM
 
4,688 posts, read 4,493,163 times
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Quote:
Originally Posted by kidyankee764 View Post
Nah - the majority of poverty in Clinton is elderly. Lots of limited income elderly complexes.
Isn't that the same with Pawcatuck? We know an older couple who had lived in Florida for decades, they were middle income and then slipped into lower income. Barely hanging on, then Hurricane Irma hit and a large tree crushed their house. Their insurance had lapsed, and that was the end of that. They ended up moving in to low income housing in Pawcatuck, where I guess they had family.
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Old 11-18-2018, 06:29 AM
 
Location: Central CT, sometimes NH.
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My favorites are Niantic and Mystic. I especially like the ease of Niantic's little downtown area and walkability to the park and beach.
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Old 11-18-2018, 08:59 AM
 
313 posts, read 101,718 times
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South of Post rd best, then south of 95, then Merrit. Simply closer to the beach the better
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Old 11-18-2018, 01:47 PM
 
1,789 posts, read 717,608 times
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Quote:
Originally Posted by kmarc View Post
Isn't that the same with Pawcatuck? We know an older couple who had lived in Florida for decades, they were middle income and then slipped into lower income. Barely hanging on, then Hurricane Irma hit and a large tree crushed their house. Their insurance had lapsed, and that was the end of that. They ended up moving in to low income housing in Pawcatuck, where I guess they had family.
Pawcatuck is kind of an extension of Westerly. A decade ago I had a coworker that lived there. He loved it but said at the time not many kids in the area to play with his kids (north of downtown). It's a nice little town thou. really love the road along the river south of downtown.
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