Home Prices Increase in Every Price Range

Home Prices Increase in Every Price Range | MyKCM

CoreLogic’s Home Price Index (HPI) Report revealed,

National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.

They also analyzed four individual home-price tiers, showing the increase in each.

Here’s the breakdown:

Home Prices Increase in Every Price Range | MyKCM To clarify the methodology, CoreLogic explains,

“The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).”

What does this mean if you’re selling?

Price appreciation can differ depending on your price range. If you’re a homeowner thinking of selling, let’s get together to find out how much your home is increasing in value, so you can price it competitively for today’s market.

 

Sept. 9, 2019

New Partnership Promises an Exciting 2019 Kitchen Tour! 9.29.19

Following on the heels of last year's successful Kitchen Tour, KBDC is making plans for the 2019 Kitchen Tour, creating a new partnership with the Hill-Stead Museum in Farmington. This unique collaboration was brought about by KBDC Owner Lorey Cavanagh and her identification with the fascinating story of Hill-Stead’s visionary and architect, Theodate Pope-Riddle. As a woman in the male dominated field of construction, Theodate Pope-Riddle’s trailblazing journey as the first licensed female architect in Connecticut resonates with her.

Black and White photograph of Theodate Pope-Riddle, Architect of Hill-Stead Museum, Farmington, CT.Black and White photograph of Theodate Pope-Riddle, Architect of Hill-Stead Museum, Farmington, CT.
Theodate Pope-Riddle, first liscensed female Architect in Connecticut and visionary of the Hill-Stead Museum.

“Her story is fascinating!” comments Cavanaugh, “There are few women architects now, and there were even fewer in the early part of the 20th century. As a woman in the construction field, I can totally relate to her trials and tribulations. Women in both architecture and construction are still under represented. Additionally, in the field as a whole, we’re really beginning to face a shortage of quality tradespeople, both male and female, and the fact that young women are not considering or being directed to these professions is a disservice to both. I’m excited to be featuring our work, created by women, and support an organization like the Hill-Stead, that was pioneered by a woman. We have been met with nothing but enthusiasm from the Hill-Stead Museum and I can foresee many successful kitchen tours in the future.”

“We are thrilled that Theodate Pope-Riddle’s contribution and place in history is being recognized by Lorey and her company at Kitchen & Bath Design + Construction,” says Hill-Stead Museum Director of Development, Susan Orred. “We strive to make Theodate’s story an example for young women today heading toward STEAM careers.”

The 2019 Kitchen Tour will showcase a variety of original kitchen styles designed by Kitchen & Bath Design + Construction with each stop featuring a special guest or event. All ticket sale proceeds will benefit the Hill-Stead Museum and its mission of making this exceptional house and collections accessible to the public. For the first time, this year’s self-guided kitchen tour will be held on a Sunday, September 29, from 10:00 a.m. to 4:00 p.m.  More details will be revealed as they become available so be sure to visit our website often.

 

Posted in Community
Sept. 9, 2019

Mayflower Shakespeare Garden Soirée

Mayflower Shakespeare Garden Soirée

September 12

 

Is the backdrop for F. Scott Fitzgerald’s masterpiece, The Great Gatsby, actually Connecticut, and not Long Island? There is certainly a case for it. Mayflower's garden soirée is a social scene where you can dance to the sounds of live music, and sip bespoke drinks inspired by the great authors that incorporate herbs from the organic garden and locally distilled liquor and dance the night away in style under Art Deco-inspired lights. Guests are welcome to dress in 1920s-style attire to complete the scene. Complimentary passed hors d’oeuvre and music.

 

Posted in Community
Sept. 4, 2019

Savor Litchfield

 

Savor Litchfield Is Bigger and Better Than Ever Third Year at South Farms in Morris, Connecticut

Expanded Vendor Space and All-New VIP Lounge.

TownVibe and Litchfield Magazine present the food-lover’s party of the year - Savor Litchfield - held at South Farms in Morris, Connecticut.

Foodies and other fun-loving folk can enjoy tastes and sips from more than 20 restaurants and specialty markets from the Litchfield area, all in the beautiful surroundings of the 90-acre South Farms in Morris. In addition to fine cuisine, craft cocktails, artisanal wine, craft beer, and sweets, there will be live music by the Switch Factory, local business pop-up shops, a mixology session by Litchfield Distillery, and an art tent for kids by Art Room Atelier. “Good things happen when people connect over good food,” says TownVibe publisher Geoffrey Morris.

Litchfield Distillery brand ambassador and award-winning mixologist Dimitrios Zahariadis will provide a special mixology session. He will build three delicious cocktails perfect for late summer and early fall, sharing tips that can help people take their cocktails to the next level.

The restaurant and spirits list is still growing but to date includes BritsBrand, Ciesco Catering, Community Table, Fifth State Distillery, Hopkins Vineyard, John’s Cafe, Josh Cellars, Litchfield Distillery, Market Place Tavern Litchfield, Mayflower Inn & Spa, Mine Hill Distillery, Spring Hill Vineyards, Sunset Meadow Vineyards, Sweet Lab Confections, The BakeHouse of Litchfield, West Shore Seafood, White Horse Country Pub & Restaurant.

They will be creating an array of delicious and diverse options for participants. Cuisine ranges from sustainable and seafood-focused to old-school Italian comfort food to handmade caramels. The event will also offer various wines, beers, and spirits to create the perfect ensemble—all available for one ticket price. Local businesses that will be on hand include: The Spa at Litchfield Hills, Byrde + the b, J. McLaughlin, Oliphant, Forsythia Skin Care, and Shop Cathy B.

Your chance to win tickets will be sold in support of Torrington’s FISH NWCT. Founded in 1972, FISH NWCT has evolved into the area's largest emergency homeless shelter (with 35 beds) and free food pantry. Chance to win items include certificates to New Morning Market and Forsythia Skin Care, a gift basket from Pergola, special products from Byrde + the B, and more! Guests are invited to bring donations of canned tuna, beans, rice, condiments, peanut butter, jelly, pasta sauce, healthy cereal, olive oil, laundry and dish detergent.

Pre-purchased general admission is $50, which includes food, drink, and entertainment all afternoon. A VIP pass is $100 and provides food, drink, entertainment, private parking, and access to a lounge with TV and food service. Children 15 and under are $20. Day-of-the event tickets are $60 for general admission and $110 for the VIP lounge.

Posted in Community
Sept. 4, 2019

Southington Music on the Green—-Sound Revue Band

 

 

Southington Music on the Green—-Sound Revue Band

 

Thu, 05 Sep 2019, 01:00

 

Southington's 26th annual "Music on the Green" outdoor concert series will feature Sound Revue on Wednesday, September 4th from 7:00-9:00 PM at the Southington Town Green (Route 10/Main St.). A classic car show will also be held at this event. In the event of inclement weather, the concert and car show will be postponed to Thursday evening. Admission is free. Please bring a lawn chair or blanket for seating and enjoy the show! 

 

Posted in Community
Sept. 4, 2019

Brass City Brew & 'Que

The Brass City Brew & 'Que is one of the largest brew fests in New England, now in it’s 14th year includes an Amateur Pit Master BBQ competition along with barbeque inspired food options available for purchase. Music and entertainment are included in ticket price. ONLY 2100 TICKETS WILL BE SOLD

GENERAL ADMISSION TICKETS **** EARLY BIRD PRICE $30 after 6/30/19 midnight price is $35   Advance Price: $35 / Day-of-Event: $40 - Provides entry & sampling in all tents - 1pm to 5pm

VERY INTIMATE PREVIEW (VIP) SESSION **** EARLY BIRD PRICE: $40 after 6/30/19 midnight price is $45   VIP Price ($45 total in advance) / Day-of-Event price: $50 - Provides entry & sampling in all tents - A maximum of 700 tickets will be sold for the Preview Session - VIP attendees will enjoy the festivities from 12 noon until 5 pm

Posted in Community
Sept. 4, 2019

Welcome to the 31st Cheshire Fall Festival and Market Place !

Welcome to the 31st Cheshire Fall Festival and Market Place !

 

Friday September 13th 2019 – Food Trucks
Saturday September 14th 2019 – Cheshire Fall Festival

This September, the Cheshire Chamber of Commerce, in collaboration with the town of Cheshire, will bring the community together to support our local businesses, crafters, farms, orchards, and local non-profits.  The celebration begins on “Food Truck Friday” September 13th and continues to Saturday, September 14th at Bartlem Park in the heart of our town.

On Friday, visitors can expect a variety of food trucks and entertainment provided by Cheshire’s native, Christine Ohlman during the evening. Saturday, September 14th, promises to be a beautiful day filled with booths on display, food and drink, and two stages filled with performances and demonstrations. Come walk our field and see what our local businesses, crafters, and vendors have been up to.  We are beyond excited to announce an updated Car Show for all car enthusiasts! The evening will bring musical performances on the main stage and an inspiring display of fireworks for you, your friends, and family to enjoy.  Be sure to stop by our Cheshire’s 325th Town Anniversary celebration tent to learn more about our community. Come spend the weekend with us and see everything our town has to offer.

 

Posted in Community
Sept. 4, 2019

Noah Webster West Hartford Brew Fest

Ale-tasters unite at Connecticut’s premier beer challenge!

It’s back! Beer you can’t find anywhere else. Join us for the 5th Annual Noah Webster Real Ale Harvest Festival brought to you by the museum and the Harvest family of stores.

21+ breweries create a unique cask of Real Ale good for this one day only and there is a catch. Their brew must include an ingredient from Noah Webster’s 18th-century garden or pantry list.

Certified beer judges and celebrity judges choose the Cask Champion (2-5 p.m. session).

YOU choose the Taster’s Choice Award winner. Your votes will be counted by the official Real Ale Fest accounting team of Clark Hirth CPAs using their weighting system designed just for the event.

Live music at both sessions by Steal Your Funk! Food will be available for purchase.

You will take home a commemorative Real Ale tasting glass and program with full details on each cask entered into the challenge.

Returning brewery contestants include:

Counter Weight Brewing Company (2018 Cask Champion)

New England Brewing Co. (2018 Taster’s Choice Champion)

Aspetuck Brew Lab  *  Alvarium Beer Co.  *  Back East Brewing Company  * Blue Point Brewing

Brewery Legitimus (2017 Cask Champion)  *  Cambridge Brewing Company  * City Steam Brewery

Firefly Hollow Brewing  *  Grey Sail Brewing of Rhode Island  *  Hanging Hills Brewing Company

Hog River Brewing Co.  *  Kent Falls Brewing

New Park Brewing (2016 Cask & Taster’s Choice Champion)

OEC Brewing *  Relic Brewing Co  *  Singlecut Beersmiths  *  Still Hill Brewery

Stony Creek Beer  *   Thomas Hooker Brewery  *  Willimantic Brewing Company

and more to come!

TICKETS NOW ON SALE!
Early bird (thru 8/1) – $45
Advance (thru 9/6) – $50
At the door – $60
Designated Driver – $20

All proceeds from the event will benefit the museum’s educational mission. The Noah Webster House is a 501 (c) 3 non-profit museum. Drink responsibly. Must be 21 with proper ID.

Co-hosted by our friends at Harvest Fine Wine & SpiritsHarvest Wine & Spirits Elmwood, and Harvest Country Store.

Posted in Community
Aug. 27, 2019

A Latte a Day Keeps New Haven Homeownership Away

Cost of home ownershipSome Highlights:

  • The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast!

 

  • Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster.

 

  • Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster than you think.

 

  • In New Haven County the average home price is $285,000 so you can buy with as little as 3.5% down.   That is a downpayment of $9,975 or about 1.5 Latte's a day!  

 

Interested in how you should get started?   We partner with some of the best Connecticut mortgage people in the business.   Send us a message and we will have them reach out to you today and get you on your way to owning you Dream Home here in Connecticut. 

Posted in CT Buyer Tips
Jan. 7, 2019

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips!

 

 

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips! | MyKCM

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Want to Get the Most Money from The Sale of Your Home? Use These 2 Tips! | MyKCM

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

HGTV gives this advice:

First impressions are everything when selling your home. Studies have shown that the first two weeks on the market are the most crucial to your success. During these initial days, your home will be exposed to all active buyers.

If your price is perceived as too high, you will quickly lose this initial audience and find yourself relying only on the trickle of new buyers entering the market each day. Markets are dynamic, and your price has an expiration date. You have one chance to grab attention. Make sure your pricing helps you stand out on the shelf — in a positive way.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may believe that he or she will make more money without having to pay a real estate commission, but studies have shown that homes typically sell for more money when handled by a real estate professional.

Research by the National Association of Realtors in their 2018 Profile of Home Buyers and Sellers revealed that,

“the median selling price for all FSBO homes was $200,000 last year. However, homes that were sold with the assistance of an agent had a median selling price of $264,900 – nearly $65,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the money you get for your house.

Posted in Market Activity
Dec. 31, 2018

Why You Should Not For Sale By Owner

 

Why You Should Not For Sale By Owner | MyKCM

In today’s market, as home prices rise and a lack of inventory continues, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for most sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

According to NAR’s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. That is in comparison to only 13% of buyers looking at print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home, do you?

2. Results Come from the Internet

Where did buyers find the homes they actually purchased?

  • 50% on the Internet
  • 28% from a real estate agent
  • 7% from a yard sign
  • 1% from newspapers

The days of selling your house by putting out a lawn sign or putting an ad in the paper are long gone. Having a strong Internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interests of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 7% over the last 20+ years.

5. You Net More Money When Using an Agent

Many homeowners believe that they can save on the real estate commission by selling on their own, but they don’t realize that the main reason buyers look at FSBOs is because they also believe that they can save on the real estate agent’s commission. The seller and buyer can’t both save the commission.

study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is that,

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.

Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?

Bottom Line

Before you decide to take on the challenges of selling your house on your own, let’s get together to discuss your needs. Call a professional at Dave Jones Realty, llc to help with all your real estate needs.