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Ledyard CT Real Estate Update

Ledyard and Gales Ferry Real Estate Statistics for the week of February 21st

Finally some good news to report! Inventory dropped to 105 active listings in Ledyard last week and the reason for the drop is the best news of all! There were 7 pending sales reported last week. That's the most sales reported in a given week for quite awhile.

Of the homes currently listed in Ledyard, the average days on market is 136. There were 8 rather large price reductions last week totaling $115,000. I suspect that the reductions were an effort by the sellers to get their homes sold before the April 30th deadline of the extended tax credit.

In national news last week, First American Core Logic reported that 24% of residential properties are underwater. Underwater means that the mortgage balance owed is higher than market value. Many of these properties are located in 5 states: California, Florida, Nevada, Arizona and Michigan.

Ledyard home owners are also feeling the effects of foreclosure.  According to Realty Trac, there are 22 bank owned homes in Ledyard due to foreclosure and 35 homes in pre-foreclosure.

Ledyard Real Estate - February 28, 2010

Number of Ledyard Homes Currently for Sale: 105
Last week there were 111 active listings in Ledyard.

Number of Ledyard Homes Currently Pending: 17

Number of Homes Sold in 2010: 12

There were 149 residential home sales in Ledyard in 2009. 
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.

The highest priced home to sell in 2009 & 2010:  $385,000



Listing and sales reported by the members of the Connecticut Multiple Listing Serve, Inc and may not represent all sales. Information deemed reliable but not guaranteed.


Just Plain Photo Friday

The Leaning Tower of Pizza

Since this is the Simply Ledyard Blog, I wanted to call this regular feature Ledyard Photo Friday, but I’ve found some fun photos around Connecticut and even in other parts of the country that I wouldn’t want to miss sharing. For today’s photo however, I didn’t need to leave Ledyard.  This one was taken at Valentino’s with my cell phone.  My only complaint is that they don’t have a website that I can link to!

valentinos


Fisher Cats in Connecticut

Rarely seen Fisher Cat photographed by Ledyard CT Animal Control Officer

image You've seen the missing cat posters on telephone poles and in neighborhood stores. Lots of domestic cats in the area have disappeared over the past few years and many believe the Fisher Cat is to blame. The Connecticut Department of Environmental Protection didn't seem convinced that Ledyard residents were seeing Fisher Cats but cat owners remain convinced. 

As reported on the CT DEP Fact Sheet: “Because fishers seldom travel in open areas and tend to be nocturnal, they are rarely seen by humans. They have not been studied as extensively as many other wildlife species because they are difficult to observe.”

Despite the DEP Fact Sheet, three years ago, Kimlyn Marshall, Ledyard Animal Control Officer, photographed this Fisher Cat on North Road in Groton.


Mini Mansions

No walk in closets in these little gems.

Since 1997 Jay Shafer, owner of the Tumbleweed Tiny House Company, has been living in a home that measures less than 100 square feet.  Jay has a website named after the first of his tiny houses, Tumble Weed,  where he sells these little gems.

To put that in perspective, I had Gales Ferry home for sale a couple years ago on Hyde Park Drive that had a 27x22 master bedroom closet. That is over 500 square feet. It gave a whole meaning to the feature "walk-in closet".  Complete with granite countertops, fabulous built-ins, and spot lighting, this closet was memorable. I still think about it.  

Jay offers a number of different floor plans, none with walk-in closets. The 65 Square Foot XS House sells for $38,997 while the larger 130 Square Foot Fencl model sells for $53,997. I visited the website but it raised a whole lot of questions…like what would the local building officials think about these tiny little estates? And where would you put the litter box?


How accurate is Zillow in Ledyard?

Zillow, an online tool designed to help buyers and sellers estimate the value of their home, has been around since 2005. It's actually quite impressive even though the “zestimates” provided are not always perfect. I remember the day it launched and how it generated a lot of buzz as well as controversy. Some in the media felt Zillow estimates might replace the need for a comparable market analysis, typically a job for real estate agents.

Here’s how it works. You type in an address at Zillow.com and a zestimate quickly appears, as well as some details of the home including the date and purchase price of the last sale. You’ll also see data on comparable sales. I inputted some addresses in the Ledyard area and found many of the evaluations pretty close to market value. This is particularly true in large subdivisions. Where it seems to go astray is in the more rural parts of town or in areas just outside a subdivision where it tends to use the subdivision values due to the proximity even if the house is very different from those in the subdivision.

Here’s the important part for home owners.  You can “claim” your home on Zillow and make corrections to any data that is not accurate. This is  important if your home is on the market because missing information can effect the  zestimate. 

My opinion of Zillow hasn’t changed much in 5 years. I wouldn't rely on it for a home evaluation but it does provide some interesting information, good mapping, and a graph of a homes estimated value over time. And the best part is that the service is free. I think it is a very useful tool for buyers, sellers, homeowners and even real estate agents, but I don't think it will be replacing me anytime soon!


Little Bites of Ledyard

Beyond Ledyard Real Estate

Did you know that you can stop in the Ledyard Library, connect to wi-fi and have a cup of coffee.  And on Monday and Wednesdays, you can enjoy a homemade muffin brought to you by the Ledyard Library Friends.

For Gales Ferry weather information,  search Weather Undergound and you'll find information from a weather station at Our Lady of Lourdes Church on Route 12 in Gales Ferry?

Deb’s Veranda in Ledyard is now AJ’s Veranda.  The food is just as good! The Greek Salad remains my favorite.

Speaking of food, the new owners welcome you back to the Stonecroft Country Inn located at 515 Pumpkin Hill Road in Ledyard.


Ledyard Freecycle

Giving away stuff in Ledyard CT

Ledyard Freecycle Group

I hate holding a garage sale. Absolutely hate it. You put a price tag of $2.00 on something clearly worth 10 times that amount, and someone offers you $1.00.  I don't have the patience for those kind of negotiations. I prefer to work with larger numbers when I do my negotiating. And so, I was happy to find that Ledyard has a Freecycle Group! The group was formed on August 2005 as a branch of the fast growing Freecycle Movement, which began in Tucson, AZ on May 1st, 2003.  The group in Tuscon was formed to save the desert landscape from being taken taken over by landfills. The organization now claims almost 5000 groups all over the world.  It's a simple concept. The group matches people with stuff to give away, with people who want that stuff.  Membership is free and everything posted on the website must be free. You can find a group in your area by visiting the network's website.  Or if you live in Gales Ferry/Ledyard you can join their Yahoo Group. Our friendly neighborhood Freecycle moderator is Matthew Bailey.


Little Bites of Ledyard

   The Ledyard CT Page on Facebook is growing and over 700 Ledyard  fans have signed on. There is also a separate page on Facebook for Ledyard Real Estate.

State Representative Tom Reynolds and State Senator Edith Prague have sent a letter to the US Postal Service District Manager in Hartford expressing concern and requesting an update on the reopening of the Gales Ferry Post Office.

If you are interested in seeing what the Town of Ledyard has online about your home visit www.LedyardGIS.com where you will find your parcel documents and a maps of your property.

The Library Commission will be reporting to the Ledyard Town Council on the Future of Library Services on Wednesday, January 27th at 7:30 in the Council Chambers.

Connecticut Magazine name Ledyard one of the top 10 towns in Connecticut in 2009 in the 10,000 - 15,000 population category. The selection criteria? Education, crime, local economy, cost and leisure.

The Bill Library in Ledyard holds book discussions on Wednesday evenings at 7:00pm. They have created a book mark listing all the books they plan to discuss in 2010. Pick up your laminated copy the next time you are in the library and start reading!

Reservations are now being accepted for Spring and Summer parties and picnics at Colonel Ledyard Park Pavillion and the Jane Perry Pavillion at Highlands Lake. Stop by the Recreation Department to reserve your date.

The Ledyard Garden Club is an educational, non-profit organization comprised of members dedicated to gardening, betterment and beatification of the community. They meet on the 1st Monday of the month (except July and August) at 7PM at the Ledyard Senior Center.  They do good work!  For more details call Donna 860-464-5584.