Wisdom from Real Estate’s Wisest: Part II

Peter Klemm
Klemm Real Estate / 860.868.7313 / peterklemm@msn.com

What is particularly exciting about the Litchfield market right now?
The values and current property selection are the best they’ve been in years.

What patterns are you seeing from buyers as the market transitions into summer?
The Litchfield County luxury real estate market saw double digit growth during 2016 in buyer demand for properties in excess of $1 million, and, although our prime selling season has just begun for 2017, there have been signifigantly more luxury sales in the $2 million+ market year-to-date through April of 2017 compared to 2016.

What do you expect from the market this summer? Why?
We’re optimistic given the postive growth trajectory of our luxury market coupled with warmer weather in light of a cold and wet Spring.

Tell us about your listings.
I’m currently listing one of the most spectacular estates we’ve ever handled, with panoramic views overlooking Lake Waramaug that resemble the Italian Lake Como (shown in the photo below). The villa, which sits on 11 acres of beauty, was designed by award-winning architect Steven Haas in a way that brings maximum light into the home. The house is organized on either side of a wide barrel-vaulted glass ceilinged walkway, and on each side of the walkway are rooms generously proportioned with high ceilings and floor-to-ceiling mahogany framed “window walls” that open to the outdoors. These window walls achieve an overall effect of bringing the outdoors in.
Some other exciting features of this property include a big family room with game tables; a fully equipped wine cellar; a guest house; pool; and beautiful gardens.

 

Daniel H. Ginnel
Ginnel Real Estate / 914.234.9234 / dginnel@ginnel.com

What is particularly exciting about Northern Westchester right now?
After nine years of bouncing along at post financial crisis price levels, Northern Westchester is seeing tremendous activity at the lower end of the market.
We are building a foundation from the bottom up for trade-up buyers to participate in the tremendous value that homes in our market represent. The younger buyers who had been sitting on the sidelines for the past 8 years are seemingly all jumping in, resulting in many well-priced homes receiving competing bids.

What patterns are you seeing from buyers as the market transitions into summer?
Our average sale is in the $1.5 million range, and as we transition out of the Winter/Spring market, we are seeing a surge in the summer/weekend buyer. Some of our great listings in the $3+ million range are virtually only being viewed by weekend buyers—the Hamptons alternative seems to be very strong as of late!

What do you expect from the market this summer? Why?
We expect to see the market continue to gain strength. As values start to move up, we are seeing a completely new sense of urgency to act, which has been missing for quite some time.

If you go on the web to Ginnel.com, you will find the most interesting homes in our market. We have been specializing in the unusual as a boutique office for over 65 years. Many of the homes listed on our website have the Matterport technology where you truly can have a virtual reality tour of a home.