I had an appointment last week on a home that offered no listing or commission opportunity for me. Instead, the owners were just interested to know what their home might be worth. When I pulled up to their home on Ramblewood Drive in Gales Ferry, I was delighted to find out it was a home I had long admired for its lush perennial gardens. When I expressed my interest, the very nice owners gave me the grand tour of the grounds.  We talked for quite awhile about hosta and hydrangea and I left with a rose bush cutting and a number of photos. They stopped in the office a few days later for their market analysis and invited me to come back for plant cuttings any time. I promised I'd stop by in the fall to see what their gardens had to offer.

A few days later, I went to a home near the Norwich Golf Course to help a homeowner decide what projects to tackle in case he decides to put his home on the market. As I walked room by room taking notes, I noticed lots of photo equipment. It was obvious this homeowner had more than a passing interest in photography. Having promised myself this year that I will buy a real camera and take some photography classes, I asked the seller a few questions.  Ok, maybe more than a few. I left with a number of photography books that the nice seller insisted I borrow for as long as I wanted.

And so I did not list a house on Ramblewood Drive in Gales Ferry or one in Norwich by the golf course, but I did make new friends who were most generous in sharing their passions with me.  Real estate is not always about the commissions we make but about the nice people we meet along the way. 

There are many factors to consider when determining the value of real estate.  In  addition to square footage, condition and amenities, there are things like steep driveways, busy roads, power lines, and bright colors.  In New England, swimming pools don't necessarily add value like they would in Florida or Georgia. Electric heat can negatively affect value despite rising oil costs. Water, mountain and sunset views increase value.

I recently completed a market analysis on a foreclosed condominium in the Jewett City area of Griswold.  This condo has a view. Unfortunately, the view is of a cemetery. A very close up view of a cemetery.  Out of every back window. You get the picture.  Actually you really do get the picture since you will find a picture below of the view from the bedroom window.

So how much is that view worth in time and money?  For my analysis, I deducted 5%.  I also assumed an increase in days on market. There are some buyers that won't consider this condo no matter what the price. I'm hoping others might enjoy the benefit of having quiet neighbors. 

Connecticut is experiencing a real estate market of superlatives. I use a program called HomeFeedback.  It's a simple tool that provides sellers with showing feedback via email.  The agent who shows the home is asked to fill out an online form which is delivered to the seller. In addition to other questions, agents are asked to rate the interior and the exterior of the property. One of the choices is "average". In a market with excess inventory, buyers can be choosy: they don't need to settle for "average".  They can and will buy great, outstanding, mint or perfect. Buyers will even pay full price for perfect condition. 

Yes, there are homes selling for full price. In fact, I had two closings last week where the buyers paid full price for the privilege of owning a home in condition much better than "average". The first was a raised ranch in Preston which closed at $295,000. "Perfect" was the best way to describe its interior.  It showed like a model home and was nicely decorated and shiny clean.  The buyer could move in and enjoy it with no maintenance required.  The second was a raised ranch in Gales Ferry which closed at its asking price of $248,000.  This one wasn't perfect but it was outstanding because, although it was dated, it had been lovingly kept inside and out. The young buyers will be moving in and making upgrades but in the meantime they have a nice clean home to live in with no maintenance issues to worry about.  The home in Preston sold within 7 days; the sellers in Gales Ferry found a buyer in 21 days. 

If you are thinking of putting your home on the market, "average" just isn't good enough. Houses in average condition stay on the market longer and sell for less. 

I'm currently preparing a market analysis on a small (900 square feet) ranch style home in Gales Ferry. One of the first steps in doing the analysis is finding comparable active, pending and sold listings.  I searched the Connecticut MLS website for ranches in Ledyard up to 1000 square feet that were currently active or pending as well as those sold in the last 6 months.  I found a few good candidates but I knew I still had another job ahead of me.  I eliminated "1000 square feet" from the search criteria and began the arduous task of finding comparable ranches where agents had included finished basement space in their total square footage. This required me to do a case by case study of each listing in an attempt to sort out those that were around the same size as my 900 square footer.  I found several; one was listed at 1650 square feet and one was listed at 1800 square feet due to finished space in the below ground basement.  My ranch listing also had a finished room in the below ground level.

There has never been real consistency in our Multiple Listing Service for listing square footage of a ranch style home with finished space in the basement.  My rule has always been to list the main level square footage only unless the basement is a walk out and the finished space is of main level quality.  If that is the case, I'll include that finished space but make a note in the remarks section of the listing so not to fool anyone into thinking the home is larger than it is.  Unfortunately, my rule is only my rule.  My advice:  if you see a ranch home online or in the newspaper, ask the agent how many square feet are on the main level.  That's the only way you can really compare. 

It's not often a real estate agent gets a chance to list one of their very favorite houses in town.  20 Hyde Park Drive has always been one of my favorites! I remember when it was built in 1988 by Jim Onorato, a local custom home builder. Jimmy built 20 Hyde Park Drive for his family and his attention to detail with the use of cedar, stone, brick and glass, made this home pretty special.  The family that now owns this wonderful home have been able to enjoy his handiwork for the past few years.

When I received a coupon in the mail for a free High View photo of a home of my choice, I didn't hesitate. This home has always been a difficult home to photograph even with my wide angle lens.  Ted Kelley of High View Photography, gave it a try with his crazy looking rig and you'll find the results below. 

For more information about this fine home please visit my real estate show!