Coming off a strong 2010, residential sales in 2011 fluctuated widely by market as well as by quarter to end the year on a slightly lower note. But strong fourth-quarter pending sales numbers point to a solid opening for 2012.

For all the information you need on your local market, click here to read the entire 2011 Year-End Connecticut Market Report.

Exurbs © by Worker101

Here are 10 cities that saw dramatic price increases from Oct 2011 to Nov 2011. New York comes in at number 5.

1. Central Fla.-Regional Statistical Area

Month-to-month median increase: 5.63 percent

Year-over-year increase: 14.27 percent

Median list price: $169,000

2. Phoenix-Mesa, Ariz.

Month-to-month increase: 4.46 percent

Year-over-year increase: 10.54 percent

Median list price: $164,700

3. Miami, Fla.

Month-to-month increase: 3.60 percent

Year-over-year increase: 29.50 percent

Median list price: $259,000

4. Tampa-St. Petersburg-Clearwater, Fla.

Month-to-month increase: 3 percent

Year-over-year decrease: -2.50 percent

Median list price: $144,200

5. New York, N.Y.

Month-to-month increase: 2.71 percent

Year-over-year decrease: -2.57 percent

Median list price: $379,000

6. Fort Myers-Cape Coral, Fla.

Month-to-month increase: 2.69 percent

Year-over-year increase: 21.63 percent

Median list price: $224,900

7. Iowa City, Iowa

Month-to-month increase: 2.50 percent

Year-over-year increase: 3.02 percent

Median list price: $204,900

8. Tucson, Ariz.

Month-to-month increase: 2.41 percent

Year-over-year increase: 2.41 percent

Median list price: $174,000

9. Sarasota-Bradenton, Fla.

Month-to-month increase: 2.13 percent

Year-over-year increase: 16.56 percent

Median list price: $240,000

10. West Palm Beach-Boca Raton, Fla.

Month-to-month increase: 1.86 percent

Year-over-year increase: 15.26 percent

Median list price: $219,000

Tax © by 401K

Compared to most town/cities in Connecticut, Stamford has fairly reasonable tax rates. Most Stamford residents pay a mill rate between 16-17. A mill is equal to $1.00 of tax for each $1,000 of assessment. To calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000. For example, a property with a assessed value of $50,000 located in a municipality with a mill rate of 20 mills would have a property tax bill of $1,000 per year.

Who has the lowest mill rate in the state? Salisbury and Greenwich at just over 10 (although Greenwich also has some of the highest assessment values). Darien is close behind with at 12.2. 

Home values in New England fell at a slower pace last year, suggesting prices may be nearing a bottom, according to the latest RE/MAX of New England Housing Market Outlook Report.

The report is cautiously optimistic since home prices are showing signs of stability.

One of the states surveyed — Vermont — noted an uptick in home values in 2011, making it the only state in the region to see an increase in home values.

The median, single-family home price in Maine edged down a slight 0.18% to $206,329 in 2011, compared to $206,697 a year ago.

Rhode Island saw home prices decline just 1.8%, with the median price hitting $266,256, compared to $271,370 last year.

Connecticut and Massachusetts also watched home prices drop slightly. In Connecticut, the median 2011 sales price hit $606,673, compared to $618,560 a year ago.

Massachusetts home prices held for the most part on a diversified economy and an active luxury home sector. Prices in the state fell a modest 0.4% to $376,925 in 2010 from $375,439 in 2011.

In New Hampshire, home values fell at a steeper rate of 4.1% from $255,493 in 2010 to $245,015.

Via HousingWire.com

However, take a look at Stamford’s median prices for the past 12 months:

The listing was last on the market in Sept 2011 for $285,000 under a different brokerage. For more information on this listing, click here.

MAP OF LOCATION

STAMFORD — Despite strides in affordable housing, a study has found that lower Fairfield County is the most expensive place to rent an apartment in the United States.

The annual report, issued recently by the Connecticut Housing Coalition in coordination with the National Low Income Housing Coalition, broke down rental housing costs for metropolitan areas across the country. It did not include luxury apartments.

According to its findings, a renter in lower Fairfield County must earn $34.62 an hour to pay for a modest two-bedroom apartment, without spending more than 30 percent of total household income on housing costs. Defined as the “housing wage,” the figure surpasses those of cities such as San Francisco, Honolulu, New York and Boston.

In terms of income, a family in the area must earn $72,000 a year to afford a typical two-bedroom apartment…

FULL ARTICLE

Regis Philbin and wife © by Rubenstein

Regis Philbin recently sold his $3,000,000 Greenwich home.

More from the Zillow blog…

With retirement came a bit of real estate luck for TV personality Regis Philbin.

After trying to sell his Greenwich, CT estate on and off for the past five years, the former TV host has finally sold the home for $3 million,according to the Wall Street Journal.

The talk show host first listed the home in 2008 for $5.9 million, and hoped the 4-bedroom, 6.5 bath property would attract a buyer who appreciated the 5,919 square feet of living space on a cul-de-sac, but it did not sell.

In May 2011, Philbin re-listed the home shortly before he announced retirement from his morning talk show gig “Live With Regis and Kelly,” after almost 25 years on the air. The 79-year-old star has long been a familiar face on American television — so much that Philbin holds the Guinness World Record for the most time spent in front of a television camera.

FULL ARTICLE

GREENWICH, Conn. – Although smaller homes and lower prices are trending in Greenwich, megamansions are still being sold, says RE/MAX Heritage broker Judy Szablak. She projects that 2012 is looking to be a good year for home sales in Greenwich.

“Generally in Greenwich, $2 million to $3 million is where the majority of properties are selling over the past seven years,” says Szablak, who researches realty and writes for The CT Realty Blog. She said the next biggest price pocket is $1 million to $1.5 million.

Overall during 2011, 524 homes were sold in Greenwich, compared with 482 units sold in 2010, according to Szablak’s research. On average, homes stay on the market for about 211 days….

FULL ARTICLE

Once you know where you are going to price your home, there are some additional tips to fine-tune your final asking price.

1. Stimulate appeal

Pricing your home on the lower end of the spectrum helps stimulate appeal in your property. If you are lucky, this can help drive interest and a possible bidding war on your home…perhaps even surpassing your original asking price.

2. Price it to be found in searches

Remember that most buyers are using online tools to find Real Estate in Stamford. If your home is valued at $605,000, avoid pricing it just above $600,000 and thus eliminating visibility to those buyers searching for home $599,999 and under.

3. Work out a plan B with your listing agent

If you and your agent do not agree on the final listing price of your home, make sure to talk though what pricing plan B may look like should your home not sell in the desired time. Will you be willing to lower your price? What other concessions would you be willing to make? What marketing and milestones must your agent fulfill during this period? Agree to these beforehand to avoid difficult confrontation with your agent if your home does not sell.

4. Have your home inspected

The worst thing you can do is settle on the price you want, get an offer, only to find out your home has thousands of dollars worth of repair work needed to close the deal. Perhaps you have an underground oil tank which needs to be removed? Maybe you have dangerous asbestos in your basement? Avoid these surprises during the new buys home inspection by getting an inspection BEFORE you list your home.