[basehead617]

Originally Posted by newerabuzz

I live in Vernon

So in many ways we have seen no appreciation since 1987-even though prices for that era where inflated.

This is true in many areas of the state and is incredibly underreported IMO.

My parents bought a house in Southbury in 1987 for $305,000.

So they bought at a peak but then they sold at a peak in 2004 for about $425,000 (still not the greatest investment).

Similar houses in the neighborhood with a similar price history are now having trouble selling in the low $300ks.

Almost 30 years with no appreciation.. that's on par with the worst of the rust belt. Much of the country outside these depressed areas is getting back up to the decade-ago highs, which in turn are nearly double or triple their 1987 prices.

There's 'not buying as an investment' and then there's this.. it's almost better to continue to rent in CT and buy a home that someone else manages somewhere things DO appreciate.

(and yes I realize FFC, etc. don't fall into this bucket)

[AntonioR]

Speaking about real estate prices in CT, today I received the August/September 2015 issue of Ocean Home magazine and I'm dumbfounded that there are people that will buy just about anything.

I have never been a big proponent of the minimalist style. I have always said that whomever wants to call me antiquated because of that can go right ahead. But here is an abomination in Old Greenwich. Its beyond ugly, unbelievable for all the wrong reasons!!!



As common as tear downs are in this part of the state, something tells me whomever buys this will not tear it down and probably will not refresh its extremely ugly facade.

Am I the only one in C-D that finds this house simply hideous?

[Raider111]

Originally Posted by AntonioR

Speaking about real estate prices in CT, today I received the August/September 2015 issue of Ocean Home magazine and I'm dumbfounded that there are people that will buy just about anything.

I have never been a big proponent of the minimalist style. I have always said that whomever wants to call me antiquated because of that can go right ahead. But here is an abomination in Old Greenwich. Its beyond ugly, unbelievable for all the wrong reasons!!!



As common as tear downs are in this part of the state, something tells me whomever buys this will not tear it down and probably will not refresh its extremely ugly facade.

Am I the only one in C-D that finds this house simply hideous?

Give me that location and view, I don't care what the house looks like

[JayCT]

Originally Posted by AntonioR

Speaking about real estate prices in CT, today I received the August/September 2015 issue of Ocean Home magazine and I'm dumbfounded that there are people that will buy just about anything.

I have never been a big proponent of the minimalist style. I have always said that whomever wants to call me antiquated because of that can go right ahead. But here is an abomination in Old Greenwich. Its beyond ugly, unbelievable for all the wrong reasons!!!



As common as tear downs are in this part of the state, something tells me whomever buys this will not tear it down and probably will not refresh its extremely ugly facade.

Am I the only one in C-D that finds this house simply hideous?

Can't see the photo but if it is the house on their website I do not think it is bad. Not my taster but I know people that love that style of architecture. Jay

[newerabuzz]

Housing prices are flat throughout most of Connecticut, except for FF County- but even there appreciation is small year over year. While most of the country in the more 'desirable' locations prices are rising at a good clip, the northeast is seeing a slow rise in prices- this is true of the northeastern corridor from Washington to Boston.

Prices for homes and condos are rising rapidly along the west coast from San Diego to Seattle. These places have an benign climate, income and job growth, and attractive recreational opportunities. Texas, AZ, Utah and south Florida are seeing a rise in prices. Most of the Midwest, many parts of the south however lag in appreciation.

Will prices rise in the state of Connecticut anytime soon? We could end up like a Pittsburgh or Columbus Ohio, where the economy does improve, but the demand for homes is not robust, keeping a lid on prices for many years. Or by some rapid change in our fortunes brought about by some unknown catalyst, prices could rise rapidly. Or it could be somewhere in the middle of these outcomes.

One thing is for certain however- the rapid rise in RE prices in many areas of the country- can it be sustained?

[Mr_250]

Why the sudden increase in inventory? It seems like every day there is 10-15 "new houses" on the market. These aren't cheap houses either ($300k to $800k). Maybe people see this as a good time to sell because the market is hot? If it wasn't illegal I would love to ask each home buyer "why are you selling and where are you going?"

[BicoastalAnn]

On the topic of modern houses..... I've seen several of those 70's-80's "modern" houses on the market at a substantial price cut. Are these really undesirable in a place like FFC? I'm talking more about the $500k-800k range, not the luxury ones. At the same time, I've seen several 19th century houses priced (and sell) at a pretty high price, in line with a house 50 years newer. Is this a Northeast thing - the preference for old? I really don't see this happening much in a place like LA, where people generally value newer.

[beerisgood02]

Originally Posted by JayCT

Greenwich which is of a similar size has about the same number of listings. I have driven down dozens of streets in town without seeing a for sale sign. Jay

Greenwich doesn't allow realtor for sale signs. Town mandate.

[BPt111]

Connecticut cities among least attractive for first-time home bu - WFSB 3 Connecticut

[JayCT]

Originally Posted by BPt111

Connecticut cities among least attractive for first-time home bu - WFSB 3 Connecticut

You know I really have to wonder about these dumb lists and how they are put together. They show Overland Park Kansas as number 1. Overland Park is a suburb of Kansas City, not a real independent city. Same for many of the "cities" on the list. They are really large suburbs of major cities which means all of the problems are not within their borders. Why not include West Hartford or Fairfield which are more comparable. Oh wait, they are not cities. Jay