In the first quarter of 2023, Fairfield County had 6 of the top 10 residential real estate sales in the state, totaling $29,315,000 out of the $69,597,777 sold. Litchfield County featured 2 of the top ten sales with a total of $4,600,000, while New London County had 1 sale in the top ten, amounting to $3,750,000.

Top 10 Luxury Homes: Connecticut's Prestigious Properties of Q1 2023
360 Laurel Hill Rd

1. 360-364 Laurel Rd, New Canaan - $5,995,000 A luxurious generational family compound with a sports complex, less than an hour from NYC.

 

2. 15 Parsonage Rd, Greenwich, CT - $5,995,000. A stately six-bedroom Georgian Colonial with an attached three-car garage and possible pool site. 


 
  3. 15 Blue Water Hill,…

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Connecticut's real estate taxes can vary greatly depending on the municipality and districts within them.  The graphic above illustrates the base rates for each town. Additional rates are applied to specific locations where services are provided.  These services can include public water, sewer, trash removal,  police services, or a firehouse.  A town or district with a lower Mill rate may not offer these services.  Your real estate agent will be able to help you to determine the services offered and their importance to you when purchasing real estate. The average property tax rate in CT for 2023 is $30.50, with the highest being Hartford at $68.95 and the lowest being Salisbury at $11. 

Town Mill Rates 23

How to Calculate Connecticut Property Taxes

The…

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In recent years, the commercial real estate industry has seen a concerning trend where commercial brokerage firms opt not to offer co-brokerage commissions to buyers' agents. The withholding of these commissions can have significant negative consequences for property owners, buyers, and the industry's reputation as a whole. 

Adverse Impacts of Not Offering Cobrokerage Commissions

  1. Reduced Market Exposure

Cobrokerage commissions incentivize buyers' agents to bring their clients to a property, which expands the pool of potential buyers. By not offering these commissions, commercial brokerage firms limit the property's exposure to the market. This can lead to longer times on the market and, ultimately, lower sale prices.

  1. Lower Sale…

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Washing Machine and septic

Professionals in the real estate industry often face complex issues involving regulations and guidelines that impact their clients' properties. One such issue is the disposal of wastewater from washing machines into septic systems. To ensure the best outcomes for clients, real estate professionals must conduct thorough due diligence and vet the sources of information they rely on. The case of Tim Bray, broker/owner of Seaport Real Estate Services, highlights the importance of obtaining accurate information from reliable sources, especially when dealing with matters that can have significant consequences for homeowners.


Due diligence is the process of gathering and analyzing information to make informed decisions. This often involves researching…

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The commercial real estate market operates within two distinct segments: off-market and on-market transactions. Each segment has its unique characteristics, advantages, and disadvantages, catering to different types of investors and property owners.


Off-market transactions refer to commercial properties that are bought and sold without being publicly advertised or listed on popular real estate websites like Crexi and Loopnet. These deals often occur through personal connections, word of mouth, or specialized brokers with extensive industry networks. Off-market properties may exchange hands before the general public becomes aware of their availability, offering several advantages: 

Less competition: Off-market transactions can allow…

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Value drive Real Estate

In today's fast-paced and competitive real estate market, many realtors are experiencing frustration with the current business landscape. The growing emphasis on marketing, lead generation, and sales tactics has overshadowed the fundamental principles of the profession: providing exceptional value and service to clients. However, there is a better way to succeed in this evolving industry by focusing on adding value to the consumer through extensive research, advanced valuation techniques, and personalized service rather than solely relying on marketing strategies and Lead generation. 

The Value-Driven Approach

At its core, the value-driven approach emphasizes the importance of understanding client's needs, preferences, and goals. This approach…

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Bridge Loan

Commercial real estate projects can be a lucrative investment opportunity for those who are willing to take on the associated risks. While financing options for these projects vary, bridge loans are often used to cover the gap between the initial investment and the eventual long-term financing. However, recent trends in the market have shown a rise in bridge loans with radically lower interest rates than the current rate. This may seem like an excellent opportunity to save on interest costs, but it poses significant risks to investors and lenders alike.

First, it's essential to understand what a bridge loan is. A bridge loan is a short-term loan used to finance the gap between the purchase of a property and long-term financing. Typically, these…

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AVM

Automated Valuation Models (AVMs) have become increasingly popular in recent years as a tool for estimating property values in the real estate industry. These models employ algorithms and vast amounts of data to generate property valuations quickly and efficiently. While AVMs may offer several benefits, including reduced costs and faster processing times, they are not without their drawbacks. 

 

Limited Data and Data Quality

One of the primary reasons AVMs can be prone to errors is the quality and availability of data used in the valuation process. AVMs rely on historical sales data, property characteristics, and local market trends to generate valuations. However, the data available may not always be accurate, complete, or up-to-date.…

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Noank Village

Congratulations, Noank! As if we needed more proof that this coastal village is nothing short of spectacular, it has now been ranked the #5 best place to live in Connecticut by Niche.com. As a haven for work, play, and relaxation, Noank truly has it all. In this blog, we'll delve into the irresistible charm of Noank and discover why it's the perfect place to create a life you'll love. #NoankCT #BestPlaceToLive


A Work-Life Balance Like No Other

In today's fast-paced world, finding the ideal work-life balance can seem like a Herculean task. But in Noank, it's not only achievable – it's practically a way of life. With its quaint village charm and easy access to larger cities like New London and Groton, Noank offers the best of both worlds. The…

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Man Thinking

In the world of real estate, there's a pervasive belief that it's always a good time to buy and sell property. However, the truth is that's not always the case. In fact, sometimes, it's in a client's best interest to hold off on buying or selling real estate altogether.


Now, I know this might sound counterintuitive coming from a real estate professional, but hear me out. As someone who's been in the industry for years, I've seen firsthand the consequences of clients making hasty decisions based solely on the belief that they need to be in the market.


The reality is that the market is constantly changing, and sometimes it's not in a client's favor. While there may be an overall trend toward buying or selling, it's important to take a closer…

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