Pfizer Relocation to Groton, CT

Showing activity has picked up significantly in the Eastern CT area, as plenty of relocating Pfizer families begin their house hunting journey and join those looking at the busiest home buying season of the year.  As part of Pfizer's restructuring, it is estimated that about 500 families will be relocating here primarily from the Michigan area. Many of the folks who bought houses in Michigan would be facing a loss on the sale of their home, if not for Pfizer's relocation package which includes a "loss on sale" clause.  The clause is typical of many corporate relocation packages which allow employees who sell their home at a loss, to be remimbursed the difference between the original purchase price and the sale price.  This will be especially important for those that bought their homes in the last couple of years, as prices have been flat or fallen in most parts of the country, with Michigan no exception.

Although spring is usually the best market time in Eastern, CT, the real estate market in 2006 cooled off from preceding years and real estate inventory was at a record high.  The arrival of 500 relocating Pfizer families gives the real estate market a bit of unexpected good news.  We'll take it!