Excerpt from:  Eastern CT Real Estate
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March 17, 2009

New London County Million Dollar Real Estate

What would you buy with a million dollars?

mansionPicture this. You just won a million dollars. There is one catch. In order to stimulate the economy you have to spend the money on a home within 30 days. (Seriously, this would probably do more good for the economy than a few of the earmarks I've read about but I'll leave that discussion to the political bloggers.)

So what could you buy for a million bucks in New London County?

The good news is you will have plenty to choose from. There are currently 81 homes for sale in New London County listed for over one million dollars, 29 in Stonington alone. Even better news for you is that as a buyer, you won't have much competition. Only 25 homes sold for over a million dollars in 2008, and only 4 have closed in 2009, 2 in Groton and 2 in Stonington.

As a bonus, due to your good fortune, you will become very popular with sellers and real estate agents.

Pick me.  Pick me.

by Linda Davis, RE/MAX Realty Group
Email Me | Search for Homes | Send e-Mail Email to a Friend | 860-464-0443
Comments
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RE: New London County Million Dollar Real Estate

Jumbo's are back

Million dollar plus homes need jumbo mortgages. Our problems in northern Bergen County New Jersey were exasperated by the lack of jumbos for the past 8 months or so at reasonable rates and terms. Only Savings and Loans had them up to $1,000,000. Now, we have it readily up to $4 million at 6.5% 30 year no points. This is a big help to high end homes. The market will follow the money. If the money is there at a reasonable rate we will sell homes.

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RE: New London County Million Dollar Real Estate

We'll be happy to help the $1,000,000.00 buyers with their financing needs.  Please have them call.

Phil

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RE: New London County Million Dollar Real Estate

I guess I should have said "you will become very popular with sellers and real estate agents AND mortgage officers. 
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