[jane_sm1th73]

The piece of data you need before you walk into Town Hall: the listing price. Listing price minus consideration = difference between "wishing price" and "actual".

[Wilton2ParkAve]

Most houses don't sell for list price. However the actual sale price is captured by Zillow, Trulia, town hall etc. it's pretty easy to compare to original list on these websites. Many houses sell well below list because they are over market to begin with. I see plenty of properties that move at or even above list if priced appropriately.

[JayCT]

Connecticut housing Over-priced? I have heard this line for most of my life. Honestly the market determines the price of homes. There may be some homes that sell for more than they should but there are also homes that sell for less than they could. Overall, the prices are set by what people are willing to pay and that moves constantly. Jay

[gilfman]

Depends where you are and if the towns are killing you with the mill. I know Branford to Madison seem to be holding there own and already have hit bottom because several years now they have not fallen.

[Beeker2211]

Originally Posted by JayCT

Connecticut housing Over-priced? I have heard this line for most of my life. Honestly the market determines the price of homes. There may be some homes that sell for more than they should but there are also homes that sell for less than they could. Overall, the prices are set by what people are willing to pay and that moves constantly. Jay

Jay, I do kind of agree with her a little bit that housing is expensive. Some of this is because there was a backlash against building new apartments in CT for a variety of reasons, basically there was no pressure valve on demand. That said, prices here haven't dropped significantly vis-a-vis price drops in much of the rest of the country which is a much much bigger issue because so many people use their houses as their number 1 asset. People still want to live and work here, apparently ready to continue paying a premium for it. Without that the value of the land is basically nil.

[Stylo]

Foreclosures going for low prices is one thing. If you look at selling prices in CT right now, that's the fair market value. If the homes sold, they are fair. Not overpriced. Foreclosures are not available to the average buyer and come with all sorts of challenges and frustrations outside of normal home buying. There are certainly less foreclosures now than at the peak.

Most towns in CT have seen their prices stabilize and a few have seen a very, very slight uptick. Hopefully we'll just see most home values stabilize at the very least, and at some point follow the rate of inflation. The only big upticks we should see are in communities that become more desirable over time, which is a natural effect of supply/demand. What we had in the bubble were ALL homes unnaturally appreciating. That's why you see such a huge drop in places like Nevada.

[krebman]

Come here to Ridgefield, my house stayed about the same since I bought it in 2000. However, my taxes doubled. 2001-2005 they went up over 10% a year because we put a new rec center in that runs at a loss, 50million in reno just to the high school and all other hubris garbage. The we want, we wants yuppie want-a-be got taxed out and ran which left us locals with the tab.

[JayCT]

Originally Posted by Beeker2211

Jay, I do kind of agree with her a little bit that housing is expensive. Some of this is because there was a backlash against building new apartments in CT for a variety of reasons, basically there was no pressure valve on demand. That said, prices here haven't dropped significantly vis-a-vis price drops in much of the rest of the country which is a much much bigger issue because so many people use their houses as their number 1 asset. People still want to live and work here, apparently ready to continue paying a premium for it. Without that the value of the land is basically nil.

IT is the price it is because there is a limited number of homes available. That is the law of supply and demand. I don't think there is a backlash against new apartments but we just do not them or vast fields of homes to be built just anywhere. Nothing wrong with that. Jay

[Konig1985]

Originally Posted by jane_sm1th73

The piece of data you need before you walk into Town Hall: the listing price. Listing price minus consideration = difference between "wishing price" and "actual".

I still can't understand why you want to waste time going to the town hall because you can view the SOLD price on listingbook.

[hartford_renter]

It looks like the prices in Hartford county are still on the decline. This goes for houses in West Hartford, Simsbury, Bloomfield, East Hartford and Manchester.

Many of the houses have dropped about 40% in value from their peak in about 2006! I think it has a lot to do with taxes. Homes in West Hartford are typically 8K per year tax drags.

It doesn't make buying a house a good investment.