CT s booming housing market could soften with a rise in COVID-19 foreclosures
Alexander Soule
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A Godfrey Road home in Weston, Conn., listed for sale at the outset of the pandemic in 2020 and again heading into the spring of 2021, for just under $650,000. The listing could soon see price competition on nearby Ravenwood Drive, via the foreclosure auction of a home that carries a slightly lower assessed value, if the auction proceeds in March as scheduled.Alexander Soule /Hearst Connecticut Media /
As home buyers pick through Connecticut’s limited selection of properties heading into the spring market of 2021, the ugly underbelly of supply could come to bear on the market this year and next lenders seizing properties from borrowers who, due to evaporating income, health bills or other reasons, cannot keep up with payments on their mortgages.
Looking to develop : Demand for homes could lead to construction spike in Connecticut
Alexander Soule
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A new home takes shape in early February 2021 in Weston, Conn. During the pandemic year of 2020, permit applications for new houses outpaced those for new apartment units in Connecticut, reversing a sizable gap from 2019.Alexander Soule/Hearst Connecticut Media
As properties go, it was not going to last long on the market a dream home on more than an acre of land in Greenwich, abutting more than three acres of conservation area and priced at a mere $1.8 million in an enclave where other houses are selling for more than $5 million.
From Greenwich to Stonington, Connecticut home market stays hot in early 2021 By Alexander Soule
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Photo: Alexander Soule /Hearst Connecticut Media
It is close to a two hour drive from Newtown’s landmark flagpole to the waterfront flagpole at the tip of Stonington Point.
But this past week, a pair of Connecticut homes at opposite ends of the state were otherwise pretty close in one respect as their owners hiked the price tags for the 2021 selling season.
As expected amid the coronavirus pandemic, Connecticut home sales shot out of the gate in 2021. Transactions were up 27 percent from January 2020 to more than 3,500 in total according to early data posted by Berkshire Hathaway HomeServices New England Properties.
From Greenwich to Stonington, Connecticut home market stays hot in early 2021 middletownpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from middletownpress.com Daily Mail and Mail on Sunday newspapers.
Nominate your employer for Hearst CT Top Workplaces 2021
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Manager Anthony Buchanan santizes a car at Hearst Top Workplace Splash Carwash in Fairfield, Conn. on Tuesday, September 15, 2020.Brian A. Pounds / Hearst Connecticut MediaShow MoreShow Less
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Berkshire Hathaway HomeServices Sales Executive Barbara Straessle leads an open house tour in Greenwich, Conn. Sunday, Sept. 13, 2020. Berkshire Hathaway HomeServices is one of the winners of the Hearst Top Workplaces awards.Tyler Sizemore / Hearst Connecticut MediaShow MoreShow Less
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Twelve months ago, as we launched the 10th year of the Top Workplaces awards at Hearst Connecticut Media, the biggest worry for most people managing companies was finding good workers. Unemployment hovered well under 4 percent, the range where employers struggle on the market for talent.