Tim Bray -B.S. Real Estate & Urban Economics (UConn)

We all have stories of visiting amazing vacation properties that were purchased by a great grand father back in the hay day and passed down from generation to generation. Lakefront cabins, mountain retreats, or ocean side getaways where the family returns for gatherings, relaxation, and reflection.

As guests visiting these properties, I often wondered why my family did not have one of these properties. Had we missed an opportunity? Will that opportunity arrive again?

The time is now…After-all, the population continues to grow, great locations are limited, and deals are abundant. Create your own luck by flushing out these opportunities and helping families to achieve the American dream. Encourage families to hold onto these properties for generations and never plan to sell.

Proposed Stimulus Package

The economy is without question still in a tumultuous state. The American population waits anxiously for the Government to fix the problems, extend incentive programs, and insulate us from the harshness of reality. It is time for each of us to get creative and try to solve some of the problems that exist in our local communities.

I propose that we STIMULATE our local waterfront communities by instituting nude beaches. Nude beaches would create a draw from outside the area, bring tourists, increase spending at our local restaurants, shops, and hotels. Maybe the swimsuit shops would feel a little pain but the rest of the economy would prosper.

I am not being serious….but I do think that we need to start to think outside the box and come up with some local solutions to a worldwide problem. I hope that I made you chuckle a little bit today. Life is short, live, laugh, and play hard.

Puzzle: Draw four straight lines (without lifting the pencil from the paper) which will cross through all 8 dots.

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Warmest regard,

Tim Bray B.S. Real Estate & Urban Economics, (UConn)

Waterford, Ct Residential Real Estate Trends

As of Feb 28, 2010

Comparisons to Peak Year

For purposes of this comparison, a 12-month rolling average (RA) was considered to be the best measurement possible. A rolling average uses a 12-month total ending in the current month, in this case February 28, 2010. Using a RA will allow for monthly updates and a fair analysis.

The peak year for Waterford was 2006. As of February 2010, the total # of sales of 165 was (31.54%) below the peak and gross sales of $43,217,926 were (45.72%) below the peak of $79,625,337. Considering all price ranges, the # of sales under $200,000 were 172.22% above the peak and the # of sales over $300,000 were (67.86%) below the peak. The median sale price at the peak was $285,000 and the current RA median is $250,000 or (12.28%) below.

Current Residential Trends

The current inventory is 9.8 months with all price ranges over $300,000 ranging from 12.0 months to 84.0 months. The current 12-month total # sales are +15.04% above the same period last year and the gross $ volume is 9.44% above. February had a (4.87%) decline in the average sale price. Data collected from the local multiple listing service indicates 4.69% of all current sales from June 2009 to present were bank-owned.

How to contact Les Bray for more info: http://lesbray.wpsir.com or 860-912-8167

Stonington, Ct Residential Real Estate Trends

As of Feb 28, 2010

Comparisons to Peak Year

For purposes of this comparison, a 12-month rolling average (RA) was considered to be the best measurement possible. A rolling average uses a 12-month total ending in the current month, in this case February 28, 2010. Using a RA will allow for monthly updates and a fair analysis.

The peak year for Stonington was 2005. As of February 2010, the total # of sales of 123 was (45.81%) below the peak and gross sales of $50,116,438 were (55.43%) below the peak of $112,441,933. Considering all price ranges, the # of sales under $200,000 were 3.40% above the peak and the # of sales greater than $300,000 were (62.20%) below the peak. The median sale price at the peak was $399,000 and the current RA median is $299,000 or (25.06%) below.

Current Residential Trends

The current inventory is 20.7 months with all price ranges over $300,000 ranging from 20.6 months to 64 months. The current 12-month total # sales are slightly below the same period last year as is the gross $ volume. The last 3 months have shown an increase in the average sale price. Data collected from the local multiple listing service indicates 6.19% of all current sales from June 2009 to present were bank-owned.

How to contact Les Bray for more info: http://lesbray.wpsir.com or 860-912-8167

East Lyme, Ct Residential Real Estate Trends

As of Feb 28, 2010

Comparisons to Peak Year

For purposes of this comparison, a 12-month rolling average (RA) was considered to be the best measurement possible.  A rolling average uses a 12-month total ending in the current month, in this case February 28, 2010. Using a RA will allow for monthly updates and a fair analysis.  

The peak year for East Lyme was 2006.  As of February 2010, the total # of sales of 174 was (23.68%) below the peak and gross sales of $62,002,317 were (34.21%) below the peak of $94,243,790 and the # of sales over $300,000 were (45.38%) below the peak.  The median sale price at the peak was $354,000 and the current RA median is $280,000 or (20.90%) below.

Current Residential Trends

The current inventory is 8.4 months with all price ranges over $300,000 ranging from 9.6 months to 48.0 months. The current 12-month total # sales are +36.36% above the same period last year and the gross $ volume is +14.67% above.  February had a (15.91%) decline in the average sale price.  Data collected from the local multiple listing service indicates 5.80% of all current sales from June 2009 to present were bank-owned.

How to contact Les Bray for more info:  http://lesbray.wpsir.com  or 860-912-8167