[SteveM85]

Originally Posted by JayCT

I highly doubt it will have any impact on the desirability of Connecticut towns, at least relative to towns in other states. It hasn’t in the past and it won’t in the future. Jay

and until NYC cleans up their act, which doesn't appear to be happening anytime soon, those looking to escape subway terror, even Jason Vorhees would be released back, CT will remain a safe alternative even that much more. They're won't be any deals Spring-Summer 2022 in CT.

[tsek]

Yes, of course there's lots of bias here but so long as people are supporting their position rationally it's fair and and makes for a great discussion. Real estate values are understandably an emotional subject.

With what's going on in Ukraine and the resultant explosion in oil prices (and its threat of causing a recession), I think the Fed slows down on tightening (unfortunately for those of us trying to enter the market). We saw this last week with Powell saying he will do a .25% interest rate increase this month instead of the widely expected .5%.

The housing market is badly, badly distorted and I think it would take at least six months to see some change once any sort of reversal begins and I'm not sure what's going to catalyze the reversal at this point.

I'm also starting to wonder if the government/Fed purposely lifted real estate purchases via MBS purchases to prevent a foreclosure/financial crisis. Many people lost jobs and fell behind on payments; with their homes exploding in value they gained a well of money to save themselves.

I think inflation stays hot (intentionally) and home prices stay where they are, and those of us looking to enter the market demand raises from work and either a) get them so we can buy or b) give up and start shopping elsewhere. I'm in category b as I just can't find anything I like in Cos Cob, which has become one of my favorite places I've even lived in.

[CT_Yank]

Originally Posted by tsek

I'm in category b as I just can't find anything I like in Cos Cob, which has become one of my favorite places I've even lived in.

I am sure those who can afford to live in Cos Cob and other areas of Fairfield County are not one that suffering from expensive real estate, increased prop taxes, and crazy food/energy inflation. I lived around Pinetum reserve area for awhile. Amazing how many people just inherited houses from parents, many Italian families on 3rd/4th gen. No way they could afford to live there otherwise. I worry about many people lesser income areas or old age homes who are getting shelled right now. We all should. Raises are not helping as 3% won't offset 7%. Companies don't care. I had two people who got 0% in US. Great ratings too but bonus/salary pie was not increased even with greatest qtr in 15 years at my IB.

[Cambium]

https://www.ctinsider.com/realestate...s-16985500.php

“We’re still seeing anywhere from 10 offers to as many as 30 on properties — it’s absurd,” said Candace Adams, CEO of the Wallingford-based brokerage that has offices throughout Connecticut. “Any property that is priced where it should be is flying off the market within hours.”

"Through the first two months of the year, however, sales were down about 15 percent compared with last year, according to Berkshire Hathaway data. Just over 2,500 houses sold statewide in February, pushing the early 2022 total to about 5,800 as reported by Berkshire Hathaway"

[Stylo]

Next few months should be interesting.

Yes, more properties coming online in my town for the start of Spring market, but they're selling just as fast. Inventory is even worse than it was a few months ago.

[SteveM85]

Originally Posted by Stylo

Next few months should be interesting.

Yes, more properties coming online in my town for the start of Spring market, but they're selling just as fast. Inventory is even worse than it was a few months ago.

I know right, it's going to be a free for all. I just heard of someone who has to sell within the next couple of months due to a finalized divorce settlement (not me). Realtors already have a slew of buyers ready to make offers.
NYers are being chased out by Michael Myers and a machete lurking the subways. He just walks and still keeps up. Greenwich is still feeling tremors as they continue to pound into CT.

[jdhall1]

Client just bid 3% above the last sold price in November for a condo in New Milford, all cash no inspection and their offer wasn't selected.

[New Englander]

Originally Posted by jdhall1

Client just bid 3% above the last sold price in November for a condo in New Milford, all cash no inspection and their offer wasn't selected.

How is this not a bubble/mania? Either RE will inflate to a preserve of wealth or it'll return to reality. Neither scenario is good.

[JayCT]

Massive development is being proposed for part of the American Center in northwest Greenwich. Though in town the property is not accessed in Connecticut. It is accessed through neighboring New York. Odd. Jay

https://www.greenwichtime.com/news/a...r-16990276.php

[riffwraith]

I didn't think this warranted a new thread, so I am putting this here.

How is this worth 1.9 Mil?

https://www.zillow.com/homedetails/1...74061255_zpid/?