Little Bites of Ledyard

Bites of LedyardLittle Bites of Ledyard is my gathering place for events, news items and even an occasional opinion about anything Ledyard.

From the Office of Ledyard Mayor Mike Finkelstein:  This week, representatives of Eversource met with Ledyard Officials to advise them of upcoming work on the Stoddard’s Warf section of RT 214. It was explained that the purpose of this work is to be proactive in their attempt to reduce power outages and provide a redundancy to some of the Town’s electrical circuits. Starting in late June, Eversource will undertake selective tree trimming between RT 12 and Avery Hill Rd. This is being done to clear the way for the installation of new utility poles in that same area. The new poles will replace existing ones, and will have new “spacer cable”, which is more resilient than the current power lines. Eversource plans to have this work completed by the end of September.

The Ledyard Community Forum on Facebook turns 5 this month. An article in today’s New London Day speaks of a number of town groups and how they are run.  The reporter describes me as running a tight ship. I’ve watched a number of area groups implode so while I’ve taken some criticism for being pretty rigid, the Ledyard forum still exists after 5 years. The good news about Facebook is that if you don’t like the way a group is run, you can create your own.

Ledyard Budget season is over and the important issues discussed are now forgotten.  As in most years, many people engage too late to make a difference. I answered many questions on Facebook about the budget and I realized that many residents, even those deeply involved do not understand how the Town Charter affects the budget process. So before the next season begins how about a review of the Ledyard Town Charter? Pay particular attention to Chapter Seven.  Download Ledyard Town Charter. 

Speaking of the budget, a new town committee has been formed called “Committee to Transform the Budget Process”.  The committee will reexamine a number of issues including the process and format of the budget, shared services, funding sources and mandates. If you are interested in learning more about the Ledyard budget process you may want to attend the committee meetings. The next meeting is June 23rd at 5:00PM in the Ledyard Town Hall Annex. Meetings will continue every other Thursday until the committee reports to the Town Council in October.


New London County Real Estate Update

This report of Single Family Home Sales in New London County is generated by the 10th of each month with information from the previous month.  It includes new listings, pending and closed sales in New London County for the month of May.  What’s up and what's down from a year ago? The good news is that the number of closed sales Year to Date (YTD)  in New London County is up 14% from a year ago.  However,  the number of new pending sales is  down about 9% for that same period. This is a significant change from a month ago when pending sales were up, up up.  It bears watching to see if our market has stalled or whether the big increase we saw in the first quarter of 2016 was simply due to a comparison of a slow start in 2015 due to harsh weather. Who can forget that winter?

The number of active listings (2100) is down slightly from a year ago and also down slightly from April. Declining enrollment is always a good sign. Please note that statistics will vary from town to town.

For a complete (and easier to read) New London County Real Estate report including condos and single families click on the photo below. 

 

New London County May

Copyright © 2016 RealEstate Business Intelligence, LLC. All Rights Reserved.
Data Source: CoreLogic. Statistics calculated March 7, 2016.

About the author:  Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of  the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.


Ledyard Real Estate Update

updateThe number of home sales continues to bring really good news for Ledyard Real Estate but Ledyard Home Prices are not keeping up with that pace. The median price of the 103 homes that have sold in the past 6 months is a dismal $185,000. While there is a robust 40 pending sales, the median listing price of those is only $194,500. 

The $150,000 - $200,000 price range remains the most active and the number of distressed (short sales and foreclosures) listings and sales continues to be troubling. Of course, if you are a buyer, this is all really good news as there are certainly bargains to be had. 

Ironically the median price range of homes on the market is the highest I have seen it in years at $294,900. This is primarily due to a large number of new homes under construction.

 On the Market

There are currently 124 single family homes on the market - an almost 20 percent increase since April. The median list price is $294,900. There were 33 new listings reported in May. 

Current Pending Sales

There are currently 40 pending listings with a median list price of $194,500. There were 23 new pending listings in May with a median list price of $190,000. There are currently 19 pending but "Show for Backup" with a median list price of $180,000. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing. 

Closed Sales

There are currently 81 closed sales in Ledyard with a median sales price of $196,000. There were 21 closed listings in May. One year ago, we had 67 closed sales with a median price of only $186,500 so the first half of 2016 offers some good but not great news. While it is useful to follow month by month, a 6 month trend is a better indicator of market conditions.  The median price of the 103 homes that have closed in the past 6 months is $185,000 (Trending down.)

 

The median price of the 103 homes that have sold in the past 6 months is $185,000

 

1 - 2015 Ledyard Home Sales

Data to Consider

This LINK will take you to New London County Market Statistics by Town, including Ledyard as prepared by the Eastern CT Association of Realtors using sales reported by the members of the Connecticut Multiple Listing Service. 

About the author:  Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of  the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.


Ledyard Town Wide Yard Sale Part Two - 06335

Ledyard Yard Sale PhotoPart two of the Ledyard Town Wide Yard Sale will be held on June 11th between 8AM and 3PM in Gales Ferry. Below you will find a printable driving list and an online map and list.  We have 65 homes participating as of this posting plus several multi-family events. Each map pin includes items to be sold. Be sure to visit here at Simply Ledyard for updates throughout the week.  If you plan to shop at one of our sales, please park on one side of the road only to keep access open for emergency vehicles. Please do not block driveways! 

Our 06339 event was a fun day with good stuff for everyone including several bake sales and lemonade stands!  This week we have two restaurants participating:  Fireside Brick Oven Creations and Village Pizza, both on Route 12. They will be offering Grab and Go yard sale specials so be sure to stop in and enjoy! There are also several multi sales including the one at Gales Ferry Landing. Boy Scout Troop 12 will be holding their multi family sale at the Dow Property at 1761 Route 12.

Download Gales Ferry Driving List

Link to Map

 


Ledyard Town Wide Yard Sales 2016

Below you will find a printable driving list and an online map and list. Each map pin  includes items to be sold at the June 4th 06339 yard sale event. Be sure to visit here at Simply Ledyard for updates throughout the week.  If you plan to shop at one of our sales, parking is allowed only on one side of the road to keep access open for emergency vehicles. Please do not block driveways!   A map and list for Zip Code 06335 for June 11th will be published at the end of the week.

Download -06639 Ledyard Yard Sale Driving List PDF

 

06339 Map Link

 

 


New London County Real Estate

This report of Single Family Home Sales in New London County is generated by the 10th of each month with information from the previous month.  It includes new listings, pending and closed sales in New London County for the month of April.  What’s up and what's down from a year ago?  The number of closed sales Year to date (YTD)  in New London County is up 28% from a year ago and the number of new pending sales is up 15%. Our unseasonable weather compared to the harsh weather of last year is surely playing a part in these statistics. The median sold price of single family homes is flat from a year ago.  The number of active listings (1984) is down slightly from a year ago but up from March. Please note that statistics will vary from town to town.

For a complete (and easier to read) New London County Real Estate report including condos and single families click on the photo below. 

New London County Home Sales April

Copyright © 2016 RealEstate Business Intelligence, LLC. All Rights Reserved.
Data Source: CoreLogic. Statistics calculated March 7, 2016.

About the author:  Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of  the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.


Simply Ledyard Events

Simply Ledyard EventsSimply Ledyard Events is my attempt to capture local Ledyard Events including those found on Facebook. Please feel free to Fill out THIS FORM if you would like to include your Ledyard event in our June edition to be published on May 30th.  Here are a few events to round out May.

May 24 – Ledyard Garden Club Annual Plant Sale
Ledyard Congregational Church Hall (8:30AM – Noon)
The sale features perennials, annuals, shrubs, grasses, ground covers, vegetables and herbs as well as a garden related tag sale. Many are dug from members' gardens or grown by the Ledyard High School Ag Sci students. The prices are reasonable and there are helpful gardeners on site. Proceeds benefit the Lester House gardens, local youth scholarships and other community gardens that the group maintains.
For more information - Barbara Duncan, 860-464-2200 -ledyardgardenclub@gmail.com

May 28 –Holmberg Orchards  4th annual Spring Market
Holmberg Orchards – 12 Orchard Lane (12 – 3:00PM)
Featuring over 30 artisan vendors, farmers, food trucks, wine tastings, guided tractor tours and live music.

May 29 – Ledyard Memorial Day Parade
Ledyard Center School to High School Parking Lot beginning at 1:00PM

 In addition to the above events, you can find Ledyard Events on the following websites:

Ledyard Library Events
Ledyard Parks & Recreation Events
Town of Ledyard Meetings


Ledyard Real Estate Update

Sun peekIf someone asked me to describe the Ledyard real estate market in terms of weather, I'd describe it as cloudy with peeks of sunshine. Prices are still flat, inventory is increasing but the number of sales is bright!  There were 37 new listings in April, which increased our residential single family inventory to 112 homes, 15% higher than a year ago. The sunny news is that 61 home sales have occurred in Ledyard so far in 2016, almost double that of a year ago. This increased number of sales may be a good omen of even better weather on the horizon.

 

On the Market

There are currently 112 single family homes on the market up from a month ago.  The median list price is $269,900. There were 37 new listings reported in April. 

Current Pending Sales

There are currently 35 pending listings with a median list price of $176,000. There were 20 new pending listings in April.

There are currently 21 pending but "Show for Backup" with a median list price of $181,500. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing. There were 10 reported in March.

Closed Sales

There are currently 61 closed sales in Ledyard with a median sales price of $200,000.  There were 24 closed listings in April. One year ago, we had 29 closed sales with a median price of only $177,000 so the first quarter of 2016 offers some very good news.  While it is useful to follow month by month, a 6 month trend is a better indicator of market conditions.  The median price of the 98 homes that have closed in the past 6 months is also $200,000 (Trending up.)

___________________________________________________

The median price of the 98 homes that have sold in the past 6 months is $200,000

 

1 - 2015 Ledyard Home Sales

Listings and sales reported by the members of the CT MLS, Inc and may not represent all sales. Information deemed reliable but not guaranteed.

Data to Consider

This LINK will take you to New London County Market Statistics by Town, including Ledyard as prepared by the Eastern CT Association of Realtors using sales reported by the members of the Connecticut Multiple Listing Service. 

Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of  the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.


The Ledyard Budget 2016-2017

LedyardEach year prior to the Ledyard Annual Town Meeting, the Town Council Chairman writes a cover letter to residents for delivery to the Town Clerk with the proposed budget. Although the Town Meeting and Referendum is still ahead of us, the hard work is now done. (Unless the budget is defeated and then we are back to work.)  The Ledyard budget is a combination of many many hours of volunteer work. Despite this work, I have received emails from residents unhappy at the increase and from those unhappy with the one million dollar reduction to the Board of Education’s proposal. Even with this reduction, the BOE’s budget is $304,000 higher than a year ago. In addition, $200,000 was added to the Capital Budget for much needed Ledyard High School bathroom renovations.  This budget increases the mil rate by 1.89 mils, complicated by our recent revaluation. It’s never easy to deliver news of a tax increase but the word from Hartford isn’t good and revenue is almost certain to go down.  You will find more details in my letter below.

 

Dear Ledyard Resident:

The Town Council submits for your approval a proposed Fiscal Year 2016/2017 Budget in the amount of $53,838,545, comprised of a General Government Budget of $22,943,212 and a Board of Education Budget of $30,895,333. The Board of Education budget is $304,037 higher than the current Fiscal Year budget while the General Government budget is $87,469 lower, resulting in a total budget net increase of $216,568.

It should be noted that the General Government Budget of $22,943,212 includes approximately $6,000,000 of Board of Education related expenses comprised of Liability Insurance, Health Care, Workers Comp, Pension Obligations, School Nursing, and other in-kind services. Taking this into consideration, about 70% of the total budget is allocated for Board of Education expenses including in-kind services and 30% is allocated for General Government expenses. The General Government budget also includes $134,379 for half of an extra payroll period which occurs once every seven years.

The reductions to the General Government Budget were realized with decreases in debt service obligations, insurance premiums and reductions in operations as a result of the transition from a Resident State Trooper Program to an Independent Police Department. Other savings were found by adjusting replacement schedules of vehicles and equipment for Public Works and Emergency Services, cross training of employees and implementing software applications for efficiency.

The General Government’s budget maintains essential services to our citizens and continues to invest in technology. Highlights of the proposed budget include: (1) Continued shared resources between the General Government and Board of Education, (2) An additional Career Firefighter, (3) The addition of a part-time nurse for the Parks and Recreation Summer Program, (4) Advancement of on-line services including electronic public access to land records in the Town Clerk’s Office, on-line payments for property taxes and water services, document management system for the Police Department, on-line dog licensing, automated human resources timekeeping/payroll software and continued implementation and expansion of the PeopleGIS Land Use database/forms program reducing staff time spent on permit applications while providing online access for the public to submit, track, and receive permit notifications. This budget continues the use of the IQM2 media portal (OpenLedyard.com), improving communication with the public by streaming live and on-demand meetings, (5) Provides funding for current and future infrastructure and capital needs, (6) Continues Single Stream Recycling, which reduces tipping fees, that will provide direct savings in tax dollars, (7) Gales Ferry Landing (the former Gales Ferry School) continues to be financially self-sustaining as a business incubator with increased tenant occupancy generating sufficient revenue to pay for utilities, building maintenance and capital improvements and (8) Fire Hydrant testing and maintenance.

The General Government budget allocates $906,932 to the Capital Improvement Plan (CIP), which includes $200,000 for the Ledyard High School Bathroom Improvements. This funding, combined with State and Federal grants, provides for a total CIP of $3.8 million allowing for critical road repairs/maintenance, streetscape improvements in Ledyard Center/Route 117 and sinking fund allocations for emergency services equipment, future vehicle purchases and technology enhancements.

Although Ledyard saw the largest commercial development in Southeastern Connecticut with the construction of Tanger Outlets at Foxwoods Casino, Ledyard also saw a 3.38% decrease in the Grand List with the 2015 Revaluation (total net Grand List $1,089,981,022) requiring a .61 mil rate increase for equalization. In addition, the State of Connecticut is now facing a $930+ million deficit in the current fiscal year and a $5 billion biennial budget deficit. This financial crisis has made the State Municipal Aid revenue to cities and towns unpredictable. Ledyard’s State Municipal Aid is projected to decrease in the areas of Education Cost Sharing (ECS), Transportation, Federal Public Law 874 (Impact Aid), and Payment in Lieu of Taxes (PILOT). As a result, the Town Council anticipates that the proposed Fiscal Year 2016/2017 Budget will require an increase of 1.89 mils for a projected mil rate of 32.29.

In preparing this year’s budget, consideration was given to the future impact of the issuance of bonds for the following long-term projects: (1) Police Headquarters Facility Project approved on May 20, 2013. This project will be completed by Summer 2016 and a Ribbon Cutting is planned to take place during the 2016 Ledyard Fair, (2) School Consolidation/Improvement Projects approved on January 20, 2015 and (3) Waste Water Treatment Facility Upgrade approved on December 10, 2014. These projects are expected to be completed over the next few years with the financial impact to our debt service projected to peak at about $4.65 million in 2021.

Our special thanks to Finance Committee Chairman Fred Allyn, III, and members Tom Malone and Bill Saums for their long hours in working to complete this challenging budget. In addition, we thank the Mayor, the Superintendent of Schools and the Board of Education for their efforts as well as Marcia Hancock, Town Director of Finance, and Jason Lathrop, Board of Education Business Manager for their support.

We also thank our dedicated Town and Board of Education employees who continue to look for new opportunities to improve services and reduce costs for our residents. Special thanks to Town Council Clerk Roxanne Maher who works tirelessly year round but especially during budget season.

The Town Council would appreciate your attendance and participation at the Annual Town Meeting to be held at Ledyard High School on Monday, May 16 at 7:00 p.m. and during the budget referendum that will be held Tuesday, May 17 from 6:00 a.m. – 8:00 p.m. Absentee ballots will be available at the Town Clerk's office.  Pursuant to CGS 9-396c, eligible persons requesting an absentee ballot must apply in person at the Town Clerk's Office.

By Town Charter, if the budget referendum does not pass on May 17, 2016, a new budget will be presented at a second referendum two weeks later and if necessary, a third referendum two weeks after that. In the event all three referenda fail to pass a budget, the Town Council is required to adopt a Fiscal Year 2016/2017 Budget by June 27th.

We encourage you to contact your elected state officials to ensure that Ledyard continues to receive a fair share of state and federal funding in the coming fiscal year.

Representative Mike France: 860-842-1423/800-842-1423; E-Mail: Mike.France@cga.ct.gov

Representative John Scott: 860-240-8700/800-842-8267; E-Mail: John.Scott@housegop.ct.gov

Senator Catherine Osten: 860-240-0579/800-842-1420; E-Mail: Osten@senatedems.ct.gov

Thank you for your interest and participation in Ledyard’s budget process and for taking the time to vote.

Sincerely,

Linda C. Davis

Chairman

Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of  the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.