Home Selling in Seymour>Question Details

boilerdoc, Home Seller in Seymour, CT

Why did a realtor tell me housing prices are continuing to decline in Seymour,CT unlike the rest of the country? I was going to sell but not now.

Asked by boilerdoc, Seymour, CT Sat Aug 3, 2013

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Listings have been selling in Seymour. I have one that is listed in the 450,000 range that has an offer on it now. I know of other homes in this price range or lower that have also taken deposits. I would be happy to come out and take a look at your property and provide you with a CMA to help with your decision. I handle Seymour and surrounding towns.
Claudia Ginter
Agent - Keller Williams
Trumbull, CT
0 votes Thank Flag Link Mon Aug 19, 2013
Thank for the input. Since prices are declining we and many of our friends have been forced to stay put. I am amused when I read inventory in low and buyers can't find homes. Having lived here since 1986 and considering all the major improvements we have made, I am not willing to net less than I paid 25 years ago. This is a large part of the inventory problem. Lots of people I know are not underwater and want to sell but are not going to give their houses away. So we know we chose to live in CT but are stuck here. Except for Fairfield County, The only houses I see for sale around here are estate sales and the heirs will take low prices to sell quickly.
0 votes Thank Flag Link Sun Aug 4, 2013
First, anyone reading stats has to be careful with the interpretation. I have addressed this with many customers and clients. For instance, statistics thus far indicate that Seymour median sales prices in 2013 are indeed above 2012; $254,950 vs. $228,000. The number of sales in 2013 are trending to be right on target with 2012. Also, the sales price ratio when compared to the list price has been greater in 2013 for 6 out of the 7 months so far. However, the realtor who gave you the information may have been looking at different criteria, using arithmetic average prices, or referring to a particular month vs. year to date infortmation. And finally, the simple truth could be that the realtor misspoke. Bottom line is that Seymour, as a whole, appears well ahead of 2012. Just be certain, if you want to move ahead with selling, that your neighborhood is tracking favorably to the town data.
0 votes Thank Flag Link Sat Aug 3, 2013
Because the real estate market is LOCAL... it really doesn't matter what's happening all around the country...what matters is what's happening in YOUR marketplace. Your local experienced real estate agent can best explain what's happening in your local market...call me if you need a referral in Seymour...860-688-1400 x24...I know some great agents in your area!
0 votes Thank Flag Link Sat Aug 3, 2013
I understand. That is why the inventory is so low. People are not going to give away their houses. If you don't live in Fairfield County you lose.
Flag Sun Aug 4, 2013
Yikesy pants! You were going to sell, but not now? If only one opinion changes you from selling to staying, than you probably weren't that serious about selling to begin with. Stay magical!
Web Reference: http://kribzoo.com
0 votes Thank Flag Link Sat Aug 3, 2013
It is not that we don't want to sell. I can't take that kind of hit. See below. It should read 10000 below. We were very serious but now we have decided, especially if prices are going to continue to fall. to stay here. I have already started back to work so I am not feeling magical at all since I have now been teaching for 40 years,
Flag Sun Aug 4, 2013
I need to get a certain price which is 100,00 more than was quoted to me to move where we want to so that is why we decided to wait. Specifically she said 257000 and we need it to sell for 269000 both of which are below the bubble when my home appraised for 329000. I am retired so this last move is really important to pay off remaining bills and put a decent down payment on a far less expensive area then CT, So if I can't pay off other debt and enjoy retirement there is no sense moving. I have spent far too much money on major improvements to take so close to what I paid in 1986! These are major improvements like a new top of line boiler and a room to enclose it, central air, vinyl siding, hardwood floors, etc. She also said we need new kitchen counters, a new tile floor in kitchen etc. which come to another 10000. If I add in a partial cost for the improvements I have already made, I will come out with less than I paid for our home in 1986! (in 1 of the best areas of Seymour).
Flag Sun Aug 4, 2013
We cannot answer for what someone else said:
There are some areas that are still flat, or even declining; these are basically undesirable areas, both for investing and for living.
Many areas on the Country have seen a 12% increase over a year ago.
Find yourself a good Realtor and have them do a CMA for your house; YOUR HOUSE is all that matters to you!
0 votes Thank Flag Link Sat Aug 3, 2013
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