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Old 04-07-2022, 05:34 PM
 
Location: USA
6,779 posts, read 3,666,888 times
Reputation: 3460

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Quote:
Originally Posted by Stylo View Post
Would make a great park, museum, wedding venue.
It would but a sub-division is more realistic, but not the kind the Tik Tokkers up in Hartford have in mind.

 
Old 04-08-2022, 09:10 AM
 
14 posts, read 9,274 times
Reputation: 50
Quote:
Originally Posted by SteveM85 View Post
It would but a sub-division is more realistic, but not the kind the Tik Tokkers up in Hartford have in mind.
what motive would the town have in turning that property into subdivisions? they aren't real estate developers...
 
Old 04-08-2022, 01:35 PM
 
6,527 posts, read 4,928,483 times
Reputation: 7977
Quote:
Originally Posted by mmpqqq View Post
what motive would the town have in turning that property into subdivisions? they aren't real estate developers...
Not The town, but if developers bought it that could happen. The town should seriously look at their zoning laws before it sells
 
Old 04-08-2022, 05:32 PM
 
Location: USA
6,779 posts, read 3,666,888 times
Reputation: 3460
Quote:
Originally Posted by mmpqqq View Post
what motive would the town have in turning that property into subdivisions? they aren't real estate developers...
so they can let developers build FEMA McMansions and increase the tax base.
 
Old 04-09-2022, 05:14 AM
 
2,418 posts, read 2,029,321 times
Reputation: 3479
Quote:
Originally Posted by SteveM85 View Post
so they can let developers build FEMA McMansions and increase the tax base.
I am still learning about the ins and outs of CT real estate, but I looked at some townhomes in Orange that I thought would be perfect for me. Around $185k, 2 bed, 2 bath. Come to find out they are income restricted and my salary is too high. Coulda fooled me....my salary is definitely nothing to brag about.

Until I read your comment here, I thought maybe they have the income restrictions in place to keep investors from snapping up the properties as rentals?
 
Old 04-09-2022, 07:49 AM
 
Location: Near the Coast SWCT
83,455 posts, read 75,034,244 times
Reputation: 16597
Quote:
Originally Posted by bridgerider View Post
I am still learning about the ins and outs of CT real estate, but I looked at some townhomes in Orange that I thought would be perfect for me. Around $185k, 2 bed, 2 bath. Come to find out they are income restricted and my salary is too high. Coulda fooled me....my salary is definitely nothing to brag about.

Until I read your comment here, I thought maybe they have the income restrictions in place to keep investors from snapping up the properties as rentals?
Sounds like a Coop to me. While a townhome has an association and board members they dont have say who can own one. Thats a first for me. Unless the seller had restrictions?
 
Old 04-09-2022, 08:39 AM
 
2,418 posts, read 2,029,321 times
Reputation: 3479
Quote:
Originally Posted by Cambium View Post
Sounds like a Coop to me. While a townhome has an association and board members they dont have say who can own one. Thats a first for me. Unless the seller had restrictions?
It's all new construction. I just looked it up again, every listing is already sold or pending. $500 application fee, lottery system, borders Indian Lake, association fee is $315/month. And it still says income restrictions.
 
Old 04-09-2022, 09:45 AM
 
Location: Fairfield County CT
4,428 posts, read 3,321,626 times
Reputation: 2773
Quote:
Originally Posted by bridgerider View Post
It's all new construction. I just looked it up again, every listing is already sold or pending. $500 application fee, lottery system, borders Indian Lake, association fee is $315/month. And it still says income restrictions.
I think I know the condos in Orange you are talking about. I am looking at them for retirement. Only some of the condos are income restricted. Most of them are not.

That is why this one sold for $193,560.
https://www.coldwellbankerhomes.com/...r/pid_41674692


And this one sold for $335,000.
https://www.coldwellbankerhomes.com/...r/pid_40944602
 
Old 04-09-2022, 10:13 AM
 
Location: USA
6,779 posts, read 3,666,888 times
Reputation: 3460
Quote:
Originally Posted by bridgerider View Post

Until I read your comment here, I thought maybe they have the income restrictions in place to keep investors from snapping up the properties as rentals?
Darien islands don't have income restrictions. They will have FEMA restrictions.
 
Old 04-09-2022, 11:24 AM
 
2,418 posts, read 2,029,321 times
Reputation: 3479
Quote:
Originally Posted by CTartist View Post
I think I know the condos in Orange you are talking about. I am looking at them for retirement. Only some of the condos are income restricted. Most of them are not.

That is why this one sold for $193,560.
https://www.coldwellbankerhomes.com/...r/pid_41674692


And this one sold for $335,000.
https://www.coldwellbankerhomes.com/...r/pid_40944602
Thank you for letting me know that!
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