The Commercial Record - January 2016

JANUARY 2016

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REAL ESTATE & FINANCIAL NEWS FOR CONNECTICUT

Smart Lenders Look To Demographic Changes In 2016’s Mortgage Market

So Far, So Good On TRID But The Spring Market Is The Real Test

More Inclusive Credit Scores Could Bring Thousands Into Housing Market

Lenders Local And National Look To Boost CRE Portfolios

New Programs From The GSEs Help Mend Relationships With Banks JANUARY 2016 | THE COMMERCIAL RECORD | 1

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2 | THE COMMERCIAL RECORD | JANUARY 2016

inside The Commercial Record’s Mortgage Issue New year, new hope: In this issue, a look ahead at the year in mortgages. 2016 looks to be a good year – rates are rising for the first time in a decade, Fannie and Freddie are looking at loosening credit requirements and Millennial buyers are flooding the market.

6

Friends Again For all the talk of privatizing Fannie Mae and Freddie Mac, the GSEs remain major movers in the mortgage industry. New programs have helped heal their relationships with community lenders.

10 Testing The Market Renewed interest in homebuilding help boost commercial lending; on the development side, multifamily properties, medial and hotels are the hotspots.

14 Know Before You Owe The new TRID regulations took effect late last year and agents say industry’s preparation paid off – but the real test comes this year when the spring market heats up.

6 CLICK HERE TO SEE THIS WEEKS RECORDS Records Week Of 1/22 Records Week Of 1/15 Records Week Of 1/8 Records Week Of 1/1

18 Opening The Door

8

Congress has directed Fannie and Freddie to adopt more inclusive credit scoring models, paving the way for a wave of newly qualified borrowers.

news roundup

12 state statistics 16 c-changes

20 To Be Continued

17 in-person

Many of 2015’s challenges continue into 2016’s mortgage industry, but savvy lenders look to new markets this year.

22 top commercial transactions 24 trendlines

14

38 gossip report

JANUARY 2016 | THE COMMERCIAL RECORD | 3

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from the editor

LEVELING THE FIELD OR STACKING THE DECK? T

he latest news out of Washington is that the Federal Housing Finance Agency is encouraging Fannie and Freddie to smarten up on credit scores, theoretically allowing those with currently skimpy credit files access to government-backed loans.

Because getting more people into the mortgage game worked out so well the last time.

Washington correspondent Ken Harney lays it all out (see article, page 18).

It’s something the government has been encouraging the GSEs to do for a while.

The current analysis and judgment systems are outdated and unfairly – perhaps even discriminatorily – biased towards the “average” American.

Those with limited credit profiles have resultantly limited scores. This includes first-time buyers and minority applicants, as well the unbanked and underbanked.

Should an applicant without a credit his-

tory be denied a mortgage? It could be argued (and is) that a person without credit debt, without student loan debt, without even a car loan, is entirely capable of managing their money and at no risk of defaulting on a mortgage.

It could also be argued (and is) that without a history of payment, extending a loan for a purchase as enormous as a house puts the lender, and eventually the GSEs, at an unsuitable risk.

The sheer volume of mortgages backed by the GSEs is astonishing and there’s a lot riding on their security. A little poison in the well can have disastrous consequences.

(See: The Great Recession.) On the other hand, more (responsible, qualified) homeowners is unquestionably good news for the national and local economies.

Here, as always, there is a middle ground (though we have no hope that Congress can find it). Fannie and Freddie’s systems are old and outdated, and along with every other institution in the world, they must be brought in line with market norms. The term “credit score” itself may be outdated; perhaps “financial payment history” is a more accurate description of what lenders want to see. Utility and rent payment histories are entirely relevant to what is currently called a “credit profile” and resultant

score, and including them makes perfect sense.

Caution is the watchword – for loosening lending standards, opening credit score requirements and raising interest rates.

Congress and the FHFA must be cautious as they proceed with including more financial information in credit scores, and lenders must be cautious in reviewing those profiles. This caution, of course, takes time and due diligence, but so does digging the country of the worst depression in living history.

Certainly there are a fair number of Americans who, when the entirety of their financial histories are revealed, will fit perfectly the profile of an ideal FHA recipient.

There are also some who will remain borderline and need careful examination, and there are those who will still not be a good bet. Expanding the scope of an applicant’s financial history will make for a more comprehensive, cohesive and relevant whole, and we – cautiously – support it. n

Cassidy Murphy Editorial Director Email: cmurphy@thewarrengroup.com

JANUARY 2016 | | THE COMMERCIAL RECORD | 5

Heartbreak Healed

FANNIE AND FREDDIE HERE TO STAY Once Bruised By Buybacks, Bankers Say Relationship With GSEs Improving

BY LAURA ALIX | COMMERCIAL RECORD STAFF

G

reater clarity around repurchases and a new set of affordable lending products went a long way toward improving bankers’ relationship with the governmentsponsored enterprises (GSEs) this year, though memories of crisis-era buybacks linger like a bad champagne hangover.

In the New Year, forget all those resolutions to wind down Fannie and Freddie; they’re here to stay – at least for now.

For all the talk of privatizing Fannie Mae and Freddie Mac, the two GSEs still play an enormous role in the mortgage business. In the third quarter alone, they collectively pumped well over $200 billion in liquidity into the mortgage market.

And bankers said that new programs aimed at first-time homebuyers and greater clarity around repurchases have helped to patch what was once a troubled relationship.

“There are still some challenges with regard to the relationships between banks and the government sponsored enterprises and that’s primarily because of the pre-crisis,” said Simon Tahan, senior vice president and director of mortgage

banking at Webster Bank. “There’s still a lot of paranoia about buybacks, but things are getting better, I’m pleased to say.”

Moreover, he said, the GSEs have opened the credit box, easing standards for borrowers with less-than-perfect credit, allowing up to a 97 percent loan-to-value ratio for some affordable lending products, and limiting loan-level price adjustments for creditworthy borrowers.

“The good news is, we have seen now the GSEs have moved with regard to the credit pendulum,” Tahan said. “There’s a little bit more ease of credit, and Fannie and Freddie have come slightly out of

6 | THE COMMERCIAL RECORD | JANUARY 2016

the box with regard to credit and treatment of certain types of obligations and assets.”

That expanded menu has been particularly beneficial for community banks, many of which might not otherwise have access to the capital markets without the government-sponsored enterprises.

Mike Sheahan, retail lending manager at Chelsea Groton Bank, said the bank had not been challenged by buybacks from the GSEs. Furthermore, he said the bank was enthusiastic about integrating Fannie’s new product into Chelsea Groton’s own suite, anticipated in the first quarter.

It’s also created a kind of “ripple effect” for community banks like First County Bank in Stamford, said President and COO Robert Granata.

Fannie and Freddie “making any move to ease the burden

on first-time homeownership is something that we applaud – and that helps the entire market,” he said. “We look at this as not necessarily just first-time homebuyers, but the whole market across all sectors.

“

rates; though the Fed bumped its key interest rate just 25 basis points, Haymore expected that would be enough to dampen origination volume and shake out whatever few refinance business might

anytime soon, but Tahan said he’s hopeful for the year ahead.

“It’s great to see what Fannie and Freddie have done in 2015, really moving the pendulum and providing a little bit of

The good news is, we have seen now the GSEs have moved with regard to the credit pendulum. There’s a little bit more ease of credit, and Fannie and Freddie have come slightly out of the box with regard to credit and treatment of certain types of obligations and assets.”

— Simon Tahan, director of mortgage banking, Webster Bank

Those who are selling this smaller firsttime home are probably going to buy up and get a larger house, those who are selling larger homes are scaling down. … It’s a host of business that we can take advantage of.”

Leveling The Playing Field Meanwhile, Fannie and Freddie will continue rolling out a new common securitization platform mostly intended to level the playing field a little bit on the trading floor.

“If you think about what’s been going on between the two GSEs, they’re largely the same, but their securities trade much differently in the market,” said Scott Haymore, TD Bank’s head of pricing and secondary markets.

Referring to Fannie’s 54-day delay versus Freddie’s 44, he said, “Theoretically, Freddie should trade higher than Fannie, but it never has.”

Fannie and Freddie, it seems, don’t rank among community bankers’ concerns for the mortgage market in the year ahead.

While praising the GSEs’ efforts to provide more affordable borrowing options, Granata did mention TRID as a potential concern in 2016, albeit noting it was not an issue for his bank.

“One of the other piece that they’re monitoring are all the changes in TRID,” he said. “Those TRID changes could cause a slight ripple effect for banks that are selling to them.”

Concerns also linger about interest

actually still be left.

“Most economists have been calling for rates to go up and for all of us in the mortgage industry, that means we’ll all be competing for much lower origination volume,” he said. “That’s the worry.”

Bankers are certainly a cautious bunch and not likely to forget the sins of the crisis

ease of credit. I’m encouraged that we’ll see more good work done by them,” he said. “I think there’s a lot of work that still needs to be done but there’s clearly a lot of good dialogue moving in that direction.” n

Email: lalix@thewarrengroup.com

FORECLOSURE SALE

Docket No. HHD-CV-15-6059086S United Bank v. CBRK Enterprises, LLC, et al.

Property Address:14-16 Oakwood Avenue, West Hartford, CT Property Type: Commercial Building Date of Sale: February 20, 2016, at 12:00 Noon Committee Name: Richard M. Levy, Esq. Phone Number: (860) 561-7070 See Foreclosure Sales at www.jud.ct.gov for more detailed information JANUARY 2016 | THE COMMERCIAL RECORD | 7

NEWS ROUNDUP CT GREEN BANK, HANNON ARMSTRONG PARTNER TO PROVIDE GREEN ENERGY FINANCING

MATTRESS MANUFACTURING GIANT MOVING TO CONN. IN 2016

The Connecticut Green Bank and Hannon Armstrong have partnered to increase energy efficiency, solar and other clean energy projects throughout the state’s commercial and industrial sectors.

As part of the agreement to support the Green Bank’s Commercial Property Assessed Clean Energy (C-PACE) program, Hannon Armstrong will offer up to $100 million in funding for green energy projects for commercial and industrial buildings and businesses. The partnership aims to streamline the process of obtaining financing comprehensive energy projects for building owners.

C-Pace helps provide commercial, industrial, nonprofit and multifamily property owners access to affordable, long-term financing for energy upgrades to their buildings.

“This agreement will help us streamline the approval process for commercial loans and ensure a reliable source of capital for our businesses and institutions,” Bryan Garcia, president and CEO of Connecticut Green Bank, said in a statement.

“Investing in energy efficiency and clean energy projects through the Connecticut Green Bank’s C-PACE program provides Hannon Armstrong a new scalable channel partner to cost effectively deploy capital,” Jeffrey Eckel, president and CEO of Hannon Armstrong, said in a statement.

The Alliance to Save Energy’s CarbonCount metric will also be used to provide third-party certification of reductions in greenhouse gases resulting from investments made through this agreement.

Serta Simmons Bedding LLC will relocate from Agawam, Massachusetts to Windsor Locks by the end of 2016.

Serta Simmons Bedding, the owner and manager of National Bedding Co. LLC (the largest licensee and majority shareholder of Serta Inc.) and Simmons Bedding Co. LLC – thus making it the largest mattress manufacturer in the nation – has secured an $8 million, 10-year loan through the state’s Department of Economic and Community Development (DECD). The loan will carry two percent interest, and loan forgiveness for $5 million will be provided if the company maintains the estimated 200 new and relocated positions for two consecutive years.

The funding, which requires State Bond Commission approval, will be used for new equipment and improvements to the new location, 140 Old County Circle.

“In the last year alone, [Gov. Dannel P. Malloy] and DECD have launched several initiatives aimed at helping manufacturing companies grow their workforce, develop the skills of their workers and develop new technologies,” DECD Commissioner Catherine Smith said. “Serta Simmons Bedding’s decision to relocate operations in Connecticut is no coincidence. The company knows we are serious about growing this important sector of our economy.”

THE MOST VIEWED ARTICLES IN DECEMBER • BHHS Announces Top Real Estate Offices, Agents, Teams • GE Considering HQ Move To Boston Waterfront • North Branford Construction Company For Defrauding Retirees Nearly $1M • CFPB Consumer Complaint Report Spotlights Connecticut • RBS Supervisor Pleads Guilty To Conspiracy To Commit Securities Fraud 8 | THE COMMERCIAL RECORD | JANUARY 2016

• • • • •

Insurance Agency Owner Convicted For Conducting Fraud Scheme 41-Unit Apt. Complex Sells In Rocky Hill Meriden Industrial Property Sells For Over $1M Trudo Joins First County Bank’s Business Division US Existing Home Sales Plunge; New Rules Seen As Drag

EVENTS CORELOGIC: 256K HOMEOWNERS RECOVERED EQUITY IN Q3 2015

FUTURE OF MORTGAGE LENDING IN THE BANKING INDUSTRY Connecticut Mortgage Bankers Association Feb. 17, 2015 185 Main Street, Suite 404, New Britain Who should attend: Banking and real estate professionals More information: www.cmba.org/events.cfm

SOUTHINGTON DENTIST SETTLES HEALTH CARE FRAUD ALLEGATIONS

More than a quarter of a million properties regained equity in the third quarter (Q3) of 2015, according to a report released today by CoreLogic, a property information service provider. The report says that 92 percent of all U.S. homes with outstanding mortgages now have positive equity. Nationwide, borrower equity increased year over year by $741 billion in Q3 2015.

The total number of mortgaged residential properties with negative equity stood at 4.1 million, or 8.1 percent, in Q3 2015. That was down 4.7 percent quarter over quarter from 4.3 million homes, or 8.7 percent, compared with Q2 2015 and down 20.7 percent year over year from 5.2 million homes, or 10.4 percent, compared with Q3 2014.

For the homeowners with negative equity, the aggregate value of negative equity nationwide was $301 billion at the end of Q3 2015, declining approximately $8.1 billion or 2.6 percent from $309.1 billion in Q2 2015. The value of negative equity declined overall year-over-year from $341 billion or 11.8 percent in Q3 2014.

Of the more than 50 million residential properties with a mortgage, approximately 8.9 million, or 17.6 percent, have less than 20 percent equity and 1.1 million, or 2.2 percent, have less than 5 percent equity.

A Southington dentist will pay to settle health care fraud allegations involving the filing of false claims for payments from the state’s Medicaid program, according to Attorney General George Jepsen.

The attorney general alleged that while working as a dental provider in the Connecticut Medical Assistance Program (CMAP), Dr. Thomas DeRienzo, a licensed dentist practicing in the Plantsville section of Southington, engaged in a long-term scheme to submit claims to Department of Social Services (DSS) for dental services that were not provided to his CMAP patients. DeRienzo is reported to have falsely charged DSS for resin-based composite fillings that patients never received.

DeRienzo agreed to pay $55,000 to resolve the False Claims Act allegations. Additionally, he has agreed to enter into a separate agreement with the DSS to be permanently barred from participation as a dentist in CMAP.

BHHS ANNOUNCES TOP REAL ESTATE OFFICES, AGENTS, TEAMS Berkshire Hathaway HomeServices (BHHS) compiled its list of top real estate offices from over 1,100 nationwide and announced that three BHHS New England and Westchester Properties offices ranked among the top last quarter in their respective categories for the Northeast region.

The awards recognize excellence in real estate and commitment to BHHS’s core values. The offices are ranked based on their size and location.

BHHS’s Greenwich office ranked first place in the large office category, the Stamford office won second place in the medium office category and BHHS Westchester Properties’ Larchmont office received second place in the medium office category.

Additionally, BHHS ranked top agents and teams for the quarter based on total gross commission income (GCI) and residential units sold. In the GCI category, first place went to Julianne C. Ward of the Greenwich office; Ellen Seifts of the Avon office received second place; and the Stamford office’s Elayne Jassey took third place.

Among the top three agents or teams category based on residential units sold, Nancy Reardon, of the Granby office, ranked first; the Guyette team, based out of the Newington office, came in second; and third was Middletown’s Laura Bitondo team.

JANUARY 2016 | THE COMMERCIAL RECORD | 9

Growth Shoots

HOME CONSTRUCTION BOOSTS LENDING ACTIVITY Rebound In Development Remains Spotty

BY STEVE ADAMS | COMMERCIAL RECORD STAFF

R

ecovery of select residential real estate markets presented a growth opportunity in commercial lending at some Connecticut banks in 2015, as homebuilders tested the market for new construction after years of inactivity.

And while vacancy rates put a damper on office construction, demand for multifamily properties, medical offices and hotels characterized commercial development hotspots, according to lenders and real estate executives.

Loans to residential builders are one of the fastest-rising categories in Simsbury Bank’s commercial loan business, CEO Martin Geitz said, comprising about 12 percent of the bank’s commercial portfolio.

“Over the last 18 to 24 months in central Connecticut, we’ve really seen consumer demand for new homes come back,” he said.

At $102.6 million at the end of the third quarter, commercial and municipal loans have increased 4 percent in 2015 and now comprise 34 percent of Simsbury Bank’s lending portfolio. The bank has set a goal of increasing their share to 50 percent, Geitz said.

After raising $16 million in capital

10 | THE COMMERCIAL RECORD | JANUARY 2016

in November, it will use the additional capacity to support commercial loan growth and open a new retail branch in West Hartford.

Growth of home building loans supplements Simsbury Bank’s traditional breadand-butter of loans for owner-occupied commercial real estate. Such borrowers are typically manufacturers or industrial service companies, and occupy at least 50 percent of the properties.

The residential development rebound has been spotty, given the Connecticut housing market’s struggles to regain prerecession levels. Median single-family prices are still 17 percent below those from October 2006, according to transaction data from The Warren Group, publisher of The Commercial Record.

Builders are back in the game for custom-built homes and small subdivisions, typically ranging from five to 30 lots, Geitz said. Simsbury Bank typically finances the subdivision infrastructure and a maximum of one or two spec homes, he added.

The cautious approach reflects the slow recovery of the housing market, where the strongest demand is in the inner-ring Hartford suburbs.

“We’re seeing good demand close in to where the major employers are,” Geitz said.

Chelsea Groton Bank also has seen lending for home construction stage a comeback over the last 12 months. Most of the demand is for contract homes built along the shoreline from Old Lyme to Stonington, CEO Michael Rauh said.

The construction market had dried up since the recession but has reemerged gradually as the market continues to absorb existing inventory.

The bank is expected to end the year by topping 2014’s $198.6 million commercial loan portfolio, which is driven by mortgages of owner-occupied commercial properties, Rauh said. To take advantage of loan opportunities outside of its longtime southeastern Connecticut base, Chelsea Groton opened a new Hartford County lending center on Oct. 1 in Glastonbury.

The Federal Reserve Board’s early December decision to raise interest rates by a quarter of a percentage point is unlikely to have a substantial effect on lending in 2016, he said.

“There has to be a fundamental business reason to want to borrow money on the commercial side, and a quarter of a point isn’t going to change that dynamic very much,” he said. “Psychologically, if you’ve been on the fence, people might say now’s the time to do something before (rates) go up again.”

Meds And Beds Drive Development Loans Demand for medical offices, assisted-living complexes and new apartments have driven demand for commercial develop-

The residential development rebound has been spotty, given the state’s housing market’s poor recovery from pre-recession levels. Median single-family prices are still 17 percent below those from October 2006. ment financing while double-digit vacancies keep office construction on hold.

In West Hartford, developer Charles Mallory of Greenwich Hospitality Group broke ground last summer on the 119,000-square-foot boutique Delamar Hotel, built in Blue Back Square on land leased from the town for an initial annual rent of $150,000. Financing for the $19 million project was expected to close in late December, including a $3 million loan from Simsbury Bank.

In Fairfield County, investors’ favorite asset category of the moment is leased

multifamily properties with amenities, said Sean Cahill, a principal in Avison Young’s Norwalk office.

Major banks, insurance companies and Wall Street conduit lenders all have shown interest in providing acquisition financing for newer apartment complexes that are 125,000 square feet or larger, he said.

“There’s a belief there’s room for rent increases in the future, and they’re buying at very low cap rates,” Cahill said. “That seems to be a trend that’s continuing.” n Email: sadams@thewarrengroup.com

Let’s make 2016 the year you

become a homeowner.

We’ll help turn this resolution into a reality, starting with up to $500 off closing costs for qualified first-time homebuyers.* We’ll help turn this resolution into a reality, starting with up to $500 off closing costs for qualified first-time homebuyers.* Call us at 860-934-1300, or apply online at chelseagroton.com. *Limited time offer. Available on qualified first time homebuyer primary residence first position mortgage applications only. Limited to no more than actual closing costs. No partial or cash rebate. Applicable closing costs to which the potential $500 can be applied include: application fee, flood zone certification fee, document preparation fee, construction inspection fee (if applicable), lenders title insurance premium, attorney’s fee, government recording charges. Application fee must be paid by borrower at the time of application and the credit will be applied at closing. Subject to credit approval, not all applicants will qualify. This offer is not a commitment to lend. Program, terms and conditions are subject to change at any time without notice. Other restrictions may apply. Chelsea Groton Bank NMLS Institution ID 402928.

JANUARY 2016 | THE COMMERCIAL RECORD | 11

STATE STATISTICS Number of Single-Family Sales by Price Range

10-Year Single-Family Sales 40,000

30,000 25,600

36,000

21,200

32,000 28,000

12,400 8,000

$700K+

1990

$500k-$699k

1995 2000 $400k-$499k

2005

2010

2015

$300k-$399k

6,000

$0-$299k 4,800

NUMBER OF SALES

NUMBER OF SALES

16,800

24,000 20,000 16,000 12,000

3,600

8,000 2,400

4,000

1,200

0

0

1990

1995

2000

2005

2010

2015

*Statistics include sales January - November All Years Source: The Warren Group

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

*Statistics include sales January - November All Years Source: The Warren Group

Lis Pendens and Foreclosures by Month 2,000

Lis Pendens Foreclosure Deeds 1,500

1,000

500

0

Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov

2013

2014

12 | THE COMMERCIAL RECORD | JANUARY 2016

2015

Top 5 Lenders by Market Share Refinance Mortgages

Multifamily Median Price $300,000

Wells Fargo Bank NA | 2015 Rank: 1 | 2014 Rank: 4

2-Family 5.24%

3-Family

$240,000

4.72%

Quicken Loan Inc | 2015 Rank: 2 | 2014 Rank: 5

PRICE

$180,000

$120,000

5.14% $60,000

4.17 0

Webster Bank | 2015 Rank: 3 | 2014 Rank: 1

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 *Statistics include sales January - November All Years Source: The Warren Group

4.85%

20-Year Residential Median Prices 7.92%

300,000

Single-Family

Peoples United Bank | 2015 Rank: 4 | 2014 Rank: 3 240,000

Condo

4.49%

180,000

Bank Of America FSB | 2015 Rank: 5 | 2014 Rank: 2

PRICE

5.25%

120,000

4.06% 60,000

5.85% 0

2015

2014

*MarketShare percent includes loans through November for both years

95 96 97 98 99 00 01 02 03 04 04 06 07 08 09 10 11 12 13 14 15 *Statistics include median prices January - November All Years Source: The Warren Group

JANUARY 2016 | THE COMMERCIAL RECORD | 13

TRID Report

LENDERS REPORT FEW DELAYS UNDER NEW RULES RE And Banking Partners Learning Together; Communication Remains Key

BY JIM MORRISON | COMMERCIAL RECORD STAFF

T

hree months after the TRID rules went into effect, the general consensus of lenders large and small is that all that preparation has paid off. For the most part, it’s been business as usual.

It took a lot of work – nearly a year, in the case of Norcom Mortgage in Avon – but “in terms of understanding the rule, everyone got there,” said Jeremy Potter, general counsel and chief compliance officer.

As expected, there has been a learning

curve with the new rules. Before TRID, if a closing had to be delayed a few days or a week because the buyer, seller, or one of the attorneys had something come up, it wasn’t a big deal, but under TRID, they had to check to make sure the delay wouldn’t affect any fees or rate locks,

14 | THE COMMERCIAL RECORD | JANUARY 2016

which could result in changes to the closing documents and potential delays.

“We haven’t seen the rule itself barring the customer from getting what they needed,” Potter said.

The transition has been easy, said Paul Addamo, executive mortgage banker with William Raveis in Glastonbury – as long as borrowers are diligent about returning all the necessary paperwork on time, loans have closed in about 30 days.

“We’ve been extremely busy in December, but I think we’ll still be able to close loans in 30 days in the spring market, as

long as everything goes right and buyers are prepared,” Addamo said.

But challenges remain; one of the biggest has been communication between all of the different parties involved. Before TRID, attorneys, real estate agents and lenders all communicated, of course, but now communication is between those three parties and their tech providers, adding a new layer of complexity.

Partners In TRID Mortgage professionals credit their real estate partners with meeting the challenge of guiding buyers through the homebuying process – which can be stressful enough without additional layers of compliance complexity. Real estate agents are crucial to managing communication, helping to coach buyers through the process and meeting deadlines, said Patrick McGovern, vice president of sales with Connecticut Home Mortgage, adding that “excellent communication is key.”

“

bury, said that from her perspective, things haven’t changed all that much, although shepherding buyers through the process is more important than ever.

“We’ve been very involved with the banks, making sure buyers had all the documents they need submitted to the loan officer so there would be no delay,” Wilcox said. “Because of that we’ve not experienced any significant delays.

However, I think the loan officers may be having the majority of the stress and extra paperwork. Lenders, attorneys and title insurance companies are feeling the weight of the changes more than we are.”

Wilcox said TRID is really a series of small changes that agents will learn to adopt and will ultimately become natural over time.

“One thing we’ve historically been casual about is if a buyer is going to get a credit after an inspection,” Wilcox said.

Now “agents need to get that information over to the mortgage company as soon as it happens. That is something Realtors

Some agents really have their stuff together; others you have to chase down. They’ll all get it eventually, or chose another profession.”

— Barbara Zendzion, real estate lending manager, CorePlus Credit Union

“There’s no question that real estate agents need to be good coaches,” he said.

“We need to focus on a more heightened sense of urgency on everyone’s part, though.”

McGovern said overall, TRID has forced his company to improve their service for consumers.

“We’ve changed almost every aspect of our process over the last year,” he said.

“We found an amazing amount of efficiency. We’re going to be faster, more accurate and more compliant in the future.”

Realtor Margaret Wilcox, vice president of sales of William Raveis in Glaston-

have come to recognize we have to do.”

For Norwich-based CorePlus Credit Union, a focus on members meant TRID wasn’t a big change.

“We’ve embraced it from the beginning,” Real Estate Lending Manager Barbara Zendzion said. “It’s all for consumer benefit. We always got the final numbers to the borrower as soon as possible, so having the numbers to them three days before closing isn’t a big deal for us. TRID added about a week to the process.”

Zendzion also stressed the importance of communication between all parties and said the level of understanding of

the new rules among real estate agents varies.

“Some agents really have their stuff together; others you have to chase down,” Zendzion said. “A few have called me with questions. They’ll all get it eventually, or chose another profession.”

All In The Timing While the Connecticut housing industry is pretty sure it has a handle on TRID compliance, the real test will come next year in the spring housing market.

“The silver lining is that we get to work through the issues while it’s slow,” McGovern said. “We’re seeing a few issues where we’ve had to redisclose and push a closing back. I am still particularly concerned about the spring market, when we quadruple the number of closings.

That will be the stress test.”

He estimates that his office processed 25 to 30 loans under TRID by mid-December and is processing loans almost as quickly as it was, but the key to that is excellent communications between all parties.

“We like six weeks to close for most loans, but we can often do it in less time,” McGovern said. “We’ve done a number of rush deals. I think the biggest impediment to doing them in 30-35 days is the lack of urgency and communication. If everyone is hustling and one person breaks down, that’s going to be an issue.”

Potter concurred, adding that he’s glad the implementation was timed to coincide with the relatively slower fall/ winter market, giving his firm and the industry time to get used to operating under the new rules.

“We feel like the timing was perfect to give us experience and come the spring market, most of the kinks will be worked out,” Potter said. “I actually think that six months from now, our company will be seeing the benefits of increased efficiencies and clarity. We’ll be faster than the old world by the summer.” n Email: jmorrison@thewarrengroup.com

JANUARY 2016 | THE COMMERCIAL RECORD | 15

C-CHANGES IN CONNECTICUT’S EXECUTIVE SUITES

Santander Consumer USA Holdings Inc. has named Ismail “Izzy” Dawood as CFO of the company. Previously, Dawood was executive vice president and chief financial officer of the Investment Services Division of The Bank of New York Mellon Corp. He was also the executive vice president, director of investor relations and financial planning and analysis and senior vice president and global head of corporate development and strategy. Dawood is a member of the boards of directors of Promontory Interfinancial Network and Leadership Pittsburgh. n

Mike Selfridge has been promoted to chief banking officer of First Republic Bank. Selfridge was previously senior executive vice president. In this new position, Selfridge will oversee IT, while assuming the additional oversight of nationwide business banking. Selfridge is a graduate of Harvard Business School’s Advanced Management Program. n

Pamela Blair has joined the Wilton office of Berkshire Hathaway HomeServices Properties as a Realtor. An entrepenuer who began her own company 10 years ago, Blair is “bright, energetic, extremely motivated and very knowledgeable of Wilton and will be a tremendous addition to our staff,” Josen phine Simko, office leader, said in a statement.

Daniel P. Trudo has joined First County Bank’s business banking division as assistant vice president and business development officer. Trudo will help the bank grow its business banking products and meet the needs of its commercial customers and the business community. Prior to joining First County Bank, Trudo spent five years as a business banking officer at RBS Citizens Bank in its Stamford and Greenwich locations. n

Louis Zuckerman has joined the Westchester/Fairfield County office of CBRE as a vice president with the Capital Markets Investment Properties team. He will specialize in office, retail, multifamily and industrial investment properties throughout the New York tri-state region, and joins the established team of Patrick Colwell and Devon Warren at CBRE. He was most recently senior managing director of investment sales with Colliers International; prior to that, he was director of acquisitions and development at The Kimball Development Group. n

AWARDS & ACCOLADES

The U.S. Small Business Administration (SBA) presented Berkshire Bank with the Lender of the Quarter Award for the 4th Quarter Fiscal Year 2015, acknowledging the significant SBA activity of the institution. Berkshire Bank closed the fourth quarter with a total of 25 SBA loan approvals in Connecticut, ending the fiscal year with 43 loans. Last year’s total was 41, showing Berkshire at an increase of 2 loans from 2014 to 2015.

16 | THE COMMERCIAL RECORD | JANUARY 2016

n

IN PERSON A Commercial Record online exclusive, the In Person features in-depth interviews with top talent in finance and real estate, from CEOs to nonprofit leaders, entrepreneurs to industry veterans. Excerpts from these interviews appear in the print version of The Commercial Record; to see the complete stories, please visit www.commercialrecord.com.

GREG RENSHAW PRINCIPAL, HISTORIC CARGILL FALLS MILL LLC What’s the latest progress on Cargill Falls Mill?

We’ve raised all of the capital and secured the debt and we have been working to get the bids. The numbers came in higher than we anticipated. We’re crunching those numbers and seeing where we can cut back a little bit. We’re starting construction on the hydroelectric facility. We’ve broken it up into three different contractors.

What sort of interest have you had in the retail space?

We’ve had two brewpubs approach us. We want to do things that are unique and different, so the goal is to add to the flavor of Putnam. I’ve been working with some brewery groups in Manhattan and different areas. We want to do something very different that’s not out there currently. The goal is to expand the market.

We’ve been talking to a couple of different restaurants. We want to give them a definite timeline and completion date and then we’ll be able to fill out letters of intent. n

MICHAEL FELDMAN REALTOR, SENIOR SALES ASSOCIATE, MIKE FELDMAN & ASSOC., WILLIAM RAVEIS REAL ESTATE Michael Feldman was recently named the 2015 Realtor of the Year by the Connecticut Association of Realtors and is the 2016 president-elect of that organization.

How did you get started in real estate?

This is the only career I’ve ever had. My parents were in real estate and I started selling right out of college, where I studied real estate.

What do you like about selling real estate?

You’re always learning, but there are very few surprises in transactions after this long. It’s a lot of fun and you get a lot of gratification. I like to have fun, but you’ve got to be serious about it. Someone who is spending that kind of money, they want you to be serious.

How has the business changed since you began selling in 1980?

The amount of info you can get on the Internet is exponentially changed and empowered buyers. The Millennials want it and want it now. They like texting and instant messaging. Now you have DocuSign. I did a transaction with a woman from Argentina who I never actually met. It’s easier, but change is a funny thing.

You have to learn how to communicate with them [Millennials] the way they want to be communicated with. Dealing with a buyer today, you need to know how to text and email. n

JOHN TRAYNOR SENIOR VICE PRESIDENT, CHIEF INVESTMENT OFFICER, PEOPLE’S UNITED BANK As an undergrad at Villanova, John Traynor didn’t anticipate he would one day be in the investment management business, but once he got into portfolio management at Lehman Brothers’ training program, he said, “This is it.”

Can you talk about the new developments on your side of the bank?

Well, the private banking aspect of it is incredible. I really focus on the asset side of an individual’s balance sheet, but we can now focus on the liability side. A lot of our clients are small business people, where the dividing line between their personal assets and their business assets is generally fairly gray; we need to be able to look at both sides of that, so the private banking addition has been fantastic.

Where do you find most of your client base?

We really work very closely with the clients of our commercial lenders. That’s really the link between them. Our commercial lenders really establish the relationship with the local business person.

I travel all over New England and I can tell you, the businesses run the gamut, from small mom-andpops to very large corporations. n

JANUARY 2016 | THE COMMERCIAL RECORD | 17

The Nation’s Housing

UPDATED CREDIT SCORING COULD OPEN WINDOW FOR MORE BUYERS Rent, Utilities, Cellphone Payments Could Factor In

BY KENNETH R. HARNEY | WASHINGTON POST COLUMNIST

I

f you’ve been frustrated that the credit scoring system has prevented you from getting a home mortgage, 2016 could be a watershed year. Important changes are in the works.

The biggest players in the mortgage field are under pressure by federal regulators and Congress to adopt more inclusive and updated credit scoring models that incorporate non-banking forms of credit, such as rent, utilities and cellphone payments, to supplement what’s in consumers’ standard credit files. For people who

have “thin” files with minimal data at the national credit bureaus – or no files at all – the changes could bring tangible improvements.

In mid-December, the federal agency that oversees giant mortgage investors Fannie Mae and Freddie Mac ordered both companies to wrap up their plans for

18 | THE COMMERCIAL RECORD | JANUARY 2016

adopting “alternate or updated credit scores” this year and move ahead with putting them into action “as appropriate.”

At roughly the same time, legislation was introduced with bipartisan support in KENNETH R. HARNEY the House called the Credit Score Competition Act. Its goal, sponsors said, is to expand access to mortgage money for large numbers of creditworthy loan applicants –

especially first-time buyers and minorities – who currently are shut out of consideration by the two companies’ credit scoring practices.

“Fannie Mae and Freddie Mac are the largest mortgage purchasers in the nation,” said Rep. Terri Sewell (D-Alabama), co-sponsor of the bill with Rep. Ed Royce (R-California), “but they rely on credit score models that don’t necessarily take into account something as simple as whether borrowers have paid their rent on time.

Homeownership is an integral part of the American Dream that shouldn’t be out of reach for low-income, rural and minority borrowers who lack access to traditional forms of credit.”

Royce said the bill would eliminate “the credit score monopoly at Fannie and Freddie,” ending “an unfair practice that stifles competition and innovation in credit scoring.”

Push For Change Both Fannie Mae and Freddie Mac rely on credit scoring tools from FICO, the dominant supplier of credit analytics for the mortgage industry and best known for its three-digit FICO scores that run from 300 (terrible credit) to 850 (outstanding credit, low risk of default).

The scoring models used by Fannie’s and Freddie’s automated underwriting systems have been in place for years without major updates, critics complain, and do not incorporate more recent, consumerfriendly improvements designed by FICO itself and by competitor VantageScore.

FICO Score 9, introduced in the summer of 2014 but never adopted by Fannie or Freddie, provides fairer treatment for millions of consumers whose scores currently are depressed by medical bill collection accounts in their credit files or who have files with scant information because they make little or no use of the traditional banking system. Mortgage applicants whose only major negatives in their credit bureau files are medical collections stand to see their FICO scores improve by a median 25 points, according to the company.

VantageScore LLC, a joint venture started by the national credit bureaus – Equifax, Experian and TransUnion – to compete with FICO, has introduced its “3.0”

model that it claims can provide scores on as many as 35 million “previously unscoreable consumers.” The new score is widely used by banks and credit card companies but is frozen out at Fannie Mae and Freddie Mac. The Vantage scoring model incorporates information on a consumer’s rent, utilities and telecommunications payment histories that get reported to one or more of the national credit bureaus. Studies have shown that inclusion of alternative credit data such as rents can significantly improve consumers’ scoring outcomes.

One study by Experian found that out of a sample of 20,000 tenants living in government-subsidized apartment buildings, 100 percent of previously “unscoreable” tenants became scoreable once their rent payment histories were used in calculating their credit scores. Furthermore, the results showed that 97 percent had scores in the “prime” (average 688) and “non-prime” (average 649). Both score categories could help qualify these current renters to obtain home mortgages, provided their income, employment and debt ratios meet Fannie Mae or Freddie Mac underwriting require-

ments. But that won’t happen until both companies update their scoring models.

What’s the prospect for that? Fannie Mae officials say scoring system changes involve significant costs, not only for the company itself but for the lenders who sell them mortgages. But when Fannie’s and Freddie’s regulator – and maybe Congress – tell them to get moving on it, the odds increase that something good will happen, sooner rather than later. n Ken Harney’s email address is kenharney@ earthlink.net.

FORECLOSURE SALE

By order of the Superior Court Judicial District of Hartford at Hartford Docket Number: HHD-CV-15-6058523-S DATE, TIME, AND PLACE OF SALE: February 20, 2016 at 12:00 noon on the property.

INSPECTION: February 20, 2016 at 10:00 a.m.

TERMS: $42,000.00 deposit by official bank or certified check only.

FOR FURTHER INFORMATION, CONTACT: Dale M. Clayton, Esq. Committee of Sale 6 Central Row, 2nd floor, Hartford, CT 06103 (860) 560-1180

PROPERTY: 359 Hazard Avenue, Enfield, Connecticut A two story commercial building believed to contain approximately 12,506 square feet of gross building area, which building is currently, or was previously, occupied by a daycare facility/nursery. The building is believed to have been constructed in 1900 and is further believed to be situated on approximately .60 acre land.

The undersigned Committee has been appointed to sell the subject property at public auction to the highest bidder.

The subject property is being sold subject to the terms of sale listed in the foreclosure advertisement for such property set forth in the Foreclosure Sales at www.jud.ct.gov.

JANUARY 2016 | THE COMMERCIAL RECORD | 19

A Look Ahead

RISING RATES, CHANGING DEMOGRAPHICS SHAPE MORTGAGE MARKET IN 2016

Much Of The Challenges, Troubles Of 2015 Continue In New Year

“

Winners in the real estate and real estate finance industry this year, and beyond, will have clear and articulated strategies to serve Millennials and diverse communities.”

20 | THE COMMERCIAL RECORD | JANUARY 2016

BY KEITH POLANSKI | SPECIAL TO THE COMMERCIAL RECORD

T

here are a lot of potential influences on the mortgage and real estate markets at any given time. While many of 2016’s issues are merely the continuation of 2015’s technology, regulation, rising prices – there are some new trends of which lenders need to be aware. Below are some of the challenges mortgage professionals will face this year.

Funding volume: Industry loan funding volume is anticipated to fall by about 10 percent overall nationwide. As interest rates are expected to rise, the decline will be primarily in the drop of refinance volume.

Though overall loan volume is expected to decline, loan funding volume from purchase transactions KEITH POLANSKI are expected to rise nationally 10 percent, and even further in some of the strongest housing markets in the country.

The mortgage bankers and depositories that have strong, purchase-focused origination platforms should outperform competitors and could be up year-over-year by better than 20 percent to 25 percent.

Marketshare: According to the most recent Home Mortgage Disclosure Act data (2014, released in October 2015), there is a continuing trend towards independent mortgage bankers (IMBs) taking marketshare from deposit-based commercial and retail banking institutions, both big and small. Over the seven-year period of the most recent data (2008-2014), IMBs’ marketshare is up 71 percent and the depository share is down 29 percent. I suspect this trend will accelerate as loan volume mix of refinance versus purchase transactions normalizes to its historical data norm of 65 percent to 70 percent purchases, and 30 percent to 35 percent refinances by volume. Credit unions will also increase their marketshare (up more than 33 percent during the aforementioned period) as both IMBs and CUs remain focused on the consumer and not the transaction.

Further regulatory pressures will also push the larger depositories away from this business line as more and more enforcement actions by the Consumer Financial Protection Bureau (CFPB) and the Department of Justice are announced and made public.

Rising interest rates: The Federal Open Market Committee (FOMC) recent decision to increase the overnight lending rate by 25 basis points. This is the first time the rate has increased in over seven years. While this well telegraphedheadline was widely expected by most economists and financial market pundits, its impact has been primarily muted. Recent geopolitical turmoil, especially in the Middle East, will probably give the FOMC pause on further rate increases in the near term.

However, these marginal increases in mortgage lending rates will be a positive for the industry and real estate market.

The analytical data shows that a 1 percent increase in rates from their current levels would cause a “pull-forward effect” on homebuying, as consumers “get off the fence” and make purchase decisions prior to rates moving higher. In fact, both the Mortgage Bankers Association and Fannie Mae forecasts show a 10 percent increase in purchase transaction volume with a nominal increase of current mortgage rates of about 1 percent.

Regulatory headaches: I think everyone in the mortgage industry is still shaking off a regulatory hangover in the New Year.

The cumulative “risk on pressure” of the CFPB’s regulatory rulemaking through enforcement actions and not the normal, transparent process has the industry constantly looking over its shoulder. Whether it is the extremely vague and poorly writ-

ten TILA-RESPA Integrated Disclosure Rule (TRID) that went into effect on Oct. 3, the use of Disparate Impact legal theory (recently confirmed by the Supreme Court), the lingering effect of the DoddFrank Act and the recent use of the False Claims Act, among many more, everyone in the industry is unsure how to run their business in a compliant way – even with immense resources being spent to be so.

The mortgage companies and depositories that stay keenly focused on these issues will see growth in their business.

Big data: More and more forward-leaning companies will use “Big Data” to predict consumer-buying behavior, household formation and migration, wage and employment stats, and – possibly most important – fraud and red flag data to assist in loan underwriting and risk mitigation. Technology remains an important, ongoing investment for all players in this space.

Millennials and minorities: Winners in the real estate and real estate finance industry this year, and beyond, will have clear and articulated strategies to serve Millennials and diverse communities.

Hispanic-American and African-American homebuyers, along with Millennials leaving their parents’ basements, will be the driving force in household formation over the next 10 years. Your business and your workforce will need to be representative of this fact.

This looks to be a good year in the mortgage industry. With homes sales and mortgage applications near or above industry norms, a healthy regional economy and favorable rate environment, real estate professionals have every reason to be optimistic heading into the New Year.

Individuals and organizations who recognize the catalysts of home formation in 2016 and beyond – Millennial and minority homebuyers – and devise demographic-specific tactics and strategies to embrace these groups, will position themselves best to enjoy a prosperous 2016. n Keith Polaski is COO and co-founder of radius financial group inc., a private, full-service mortgage lender in based in Norwell, Massachusetts.

JANUARY 2016 | THE COMMERCIAL RECORD | 21

TOP COMMERCIAL TRANSACTIONS Visit www.commercialrecord.com for a complete list of commercial transactions updated weekly.

TOP 3 STATEWIDE 1030 Elm St, Rocky Hill........................ $14,615,000

832 Straits Tpke, Watertown................. $6,000,000

300 E River Dr, East Hartford................ $5,375,000

Use:............................................. Commercial Building

Use:............................................. Commercial Building

Use:............................................. Commercial Building

Buyer:................................ Woodgreen Elm Street LLC

Buyer: ...................................................Vail Realty LLC

Buyer:........................................ BC FE East River LLC

Seller: .................................West Elm Business Center

Seller: .......................................................... Cads LLC

Seller:.......................................... New Boston EH LLC

Mtg:............................ Wells Fargo Bank $10,961,250

Date:............................................................ 11/24/15

Mtg:............................... HarborOne Bank $4,200,000

Date: ............................................................ 12/02/15

Total Assessed Value (2015):..................... $2,201,800

Date: ............................................................ 11/17/15

Total Assessed Value (2015): .....................$6,197,240

Lot Size:......................................................... 67082sf

Total Assessed Value (2015): .....................$3,972,500

Lot Size: ....................................................... 614632sf

Prior Sale:..................................... $1,200,000 (10/94)

Lot Size: ....................................................... 283576sf

FAIRFIELD 962 Danbury Rd, Wilton.................. $4,500,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer:.................................... 962 Danbury Realty LLC Seller:.................................... Motors Group Assoc LP Mtg: .................... Nissan Motor Acceptan $4,249,000 Date: ............................................................ 11/16/15 Total Assessed Value (2015): .....................$2,157,190 Lot Size: ....................................................... 146797sf

60 Connecticut Ave, Norwalk......... $3,150,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ................................. Harbor View Ventures LLC Seller:.............................................. Consortium Props Date: ............................................................ 11/12/15 Total Assessed Value (2015):..................... $1,246,280 Lot Size: ......................................................... 15682sf Prior Sale: ........................................$310,000 (04/95)

39 Carmen Hill Rd, Brookfield........ $1,710,400 Use:.......................................................... Public Utility Buyer: ........................................Vertical Bridge Towers Seller:............................... Townsquare Media Danbury Date: ............................................................ 11/10/15 Total Assessed Value (2015): ........................$384,290 Lot Size:....................................................... 182952sf Prior Sale: ........................................$685,000 (10/99)

300 E River Dr, East Hartford......... $5,375,000 Use:............................................. Commercial Building Buyer:........................................ BC FE East River LLC Seller:.......................................... New Boston EH LLC Mtg:............................... HarborOne Bank $4,200,000 Date: ............................................................ 11/17/15 Total Assessed Value (2015): .....................$3,972,500 Lot Size: ....................................................... 283576sf

233 Lawrence St, Hartford.............. $4,535,000 Use:........................................................... Parking Lot Buyer:......................................... Billings Forge Preserv Seller: ..............................................Billings Forge LLC Mtg: .........................CT Housing Fin Auth $9,900,000 Date: ............................................................ 11/18/15 Total Assessed Value (2015):.......................... $54,460 Lot Size: ......................................................... 19875sf Prior Sale: .....................................$3,925,000 (12/13)

7 West St, Litchfield....................... $1,500,000 Use:............................................. Commercial Building Buyer: ........................................................7 West LLC Seller: ................................................. Hunt Block LLC Mtg: ................................ Hunt Block LLC $1,200,000 Date: ............................................................ 11/17/15 Total Assessed Value (2015): ........................$860,330 Lot Size: ........................................................... 4792sf

149 Danbury Rd, New Milford......... $1,200,000 Use:............................................. Commercial Building Buyer: ...........................................Legacy Liquors LLC Seller: ............................................................ RMO Inc Mtg: ..........................Union Savings Bank $1,575,000 Date: ............................................................ 11/25/15 Total Assessed Value (2015):........................ $800,520 Lot Size: ......................................................... 74923sf

180 Westbrook Rd U:4, Essex.......... $259,000 Use:.......................................... Non-residential Condo Buyer: ......................................Johnny Cake Hill 3 LLC Seller: .............................. 180 Westbrook Road Assoc Date:............................................................ 12/11/15 Total Assessed Value (2015): ........................$107,200 Prior Sale:........................................ $206,000 (11/06)

2 Maple Ave, Clinton........................ $251,000 Use:............................................. Commercial Building Buyer: .....................................235 Johnson Road LLC Seller: .....................Edward A Pionke & Lynn A Pionke Mtg: ...........................Chelsea Groton Bank $200,800 Date: ............................................................ 11/19/15 Total Assessed Value (2015): ........................$204,900 Lot Size:......................................................... 20038sf Prior Sale: ........................................$105,000 (11/93)

HARTFORD 1030 Elm St, Rocky Hill.................$14,615,000 Use:............................................. Commercial Building Buyer:............................... Woodgreen Elm Street LLC Seller: .................................West Elm Business Center Mtg: ............................Wells Fargo Bank $10,961,250 Date: ............................................................ 12/02/15 Total Assessed Value (2015): .....................$6,197,240 Lot Size:....................................................... 614632sf

LITCHFIELD 832 Straits Tpke, Watertown.......... $6,000,000 Use:............................................. Commercial Building Buyer: ...................................................Vail Realty LLC Seller:.......................................................... Cads LLC Date:............................................................ 11/24/15 Total Assessed Value (2015): .....................$2,201,800 Lot Size:......................................................... 67082sf Prior Sale:..................................... $1,200,000 (10/94)

MIDDLESEX 823 Newfield St, Middletown........... $750,000 Use:.............................. Mixed Use-Prim Res & Comm Buyer:................................... Middletown Dev Partners Seller: ........................... Charlene P Krol & Frank J Krol Mtg: ..................... PeoplesBank (Holyoke) $3,345,000 Date: ............................................................ 12/02/15 Total Assessed Value (2015): ........................$431,850 Lot Size:....................................................... 432551sf Prior Sale:........................................ $250,000 (10/96)

22 | THE COMMERCIAL RECORD | JANUARY 2016

FEATURED PROPERTY 60 Connecticut Ave, Norwalk....................................................... $3,150,000 Use:....................................................................... Mixed Use-Prim Comm & Resd Buyer: ............................................................................ Harbor View Ventures LLC Seller:......................................................................................... Consortium Props Date: ........................................................................................................11/12/15 Total Assessed Value (2015):................................................................ $1,246,280 Lot Size: .................................................................................................... 15682sf Prior Sale: ................................................................................... $310,000 (04/95)

NEW HAVEN 800 E Main St, Meriden.................. $4,491,667 Use:............................................. Commercial Building Buyer: ......................John T Medeiros Tr, Tr for MW RT Seller:.................................. 800 East Main Street LLC Mtg: ..................... PeoplesBank (Holyoke) $2,095,000 Date: ............................................................ 12/02/15 Total Assessed Value (2015): ........................$597,590 Lot Size: ......................................................... 47264sf Prior Sale:........................................ $855,000 (03/06)

882 S Main St, Cheshire................. $2,200,000 Use:........................................................Retail-Service Buyer:.................................................... Pentastar LLC Seller:....................................... Whitney Cheshire LLC Date: ............................................................ 12/02/15 Total Assessed Value (2015):........................ $836,700 Lot Size: ......................................................... 59242sf Prior Sale:..................................... $1,350,000 (04/08)

687 Straits Tpke, Middlebury......... $2,000,000 Use:............................................. Commercial Building Buyer: .............................................270 Center St LLC Seller: ...................................... Tripod Real Estate LLC Mtg: .................................... Patriots Bank $1,000,000 Date: ............................................................ 11/19/15 Total Assessed Value (2015): .....................$1,567,000 Lot Size:......................................................... 78408sf Prior Sale:........................................ $300,000 (01/90)

368 Boston Post Rd, Waterford....... $440,000 Use:............................................. Commercial Building Buyer: ...................................368 Boston Post Rd LLC Seller: .....................................Cranberry Meadow LLC Mtg: ........................ Charter Oak Fed Cr Un $352,000 Date: ............................................................ 11/17/15 Total Assessed Value (2015): ........................$340,270 Lot Size: ....................................................... 137158sf

12 Case St U:B1, Norwich................ $270,000 Use:.......................................... Non-residential Condo Buyer: .......................................... Planned Parenthood Seller: .T N Phillips 2nd Ex, Ex for Phillips Michael T Est Date:............................................................ 12/09/15 Total Assessed Value (2015): ..........................$51,500 46 Bank St, New London........................... $215,000 Use:............................................. Commercial Building Buyer: ................................................. Bits&Pixels LLC

20 Liberty Dr U:A, Hebron................ $300,000 Use:................................................. Office Condo Unit Buyer: ......................................... V&R Real Estate LLC Seller: ................................ Hebron Center Real Estate Date: ............................................................ 11/23/15 Total Assessed Value (2015): ........................$161,140 Prior Sale: ........................................$292,300 (09/05)

20 Liberty Dr U:B, Hebron................ $300,000 Use:................................................. Office Condo Unit Buyer: ......................................... V&R Real Estate LLC Seller: ................................ Hebron Center Real Estate Mtg: ........................ TD Banknorth Mtg Grp $240,000 Date: ............................................................ 11/23/15 Total Assessed Value (2015): ........................$142,170

107 S Park St, Windham.................. $105,000 Use:........................................................Retail-Service Buyer: ................................... Iglesia Fuente De Salvaci Seller: .................................................. Turkington LLC Mtg:...................................... Turkington LLC $95,000 Date: ............................................................ 12/09/15 Total Assessed Value (2015):.......................... $36,160 Lot Size:.......................................................... 29621sf Prior Sale: ..........................................$65,000 (10/00)

32 W Park St, Windham.................... $62,250 Use:................................... Apartment Bldg - 4-8 Units Buyer: ........................................ Timothy H Wentworth Seller: ................................................................ FHLM Date: ............................................................ 12/07/15 Total Assessed Value (2015):........................ $103,950 Lot Size: ......................................................... 13068sf

NEW LONDON 931 Route 32, Franklin................... $1,600,000 Use:............................... Mixed Use-Prim Indust & Frst Buyer:...................................... K Best USA Trading Inc Seller: ............................... Franklin Organic Mushroom Date: ............................................................ 11/09/15 Total Assessed Value (2015): .....................$1,213,380 Lot Size: ............................................................. 215sf Prior Sale: ........................................$107,000 (08/94)

TOLLAND 47 Main St, Vernon......................... $1,400,000 Use:......................................... Manufacturing Building Buyer: ......................................Historic Talcott Mill LLC Seller: ....................................Talcott Mill Landlord LLC Mtg: .......................CT Housing Fin Auth $15,000,000 Date: ............................................................ 11/25/15 Total Assessed Value (2015): ........................$447,780 Lot Size: ....................................................... 331056sf Prior Sale: ........................................$149,000 (12/95)

WINDHAM 556 Westcott Rd, Killingly.............. $1,000,000 Use:............................ Mixed Use-Prim Comm & Resd Buyer: ........................................................ Rolgate Inc Seller: .................................Windham North Properties Date: ............................................................ 12/03/15 Total Assessed Value (2015): ........................$689,640 Lot Size:....................................................... 231739sf Prior Sale:........................................ $175,000 (01/90)

JANUARY 2016 | THE COMMERCIAL RECORD | 23

TRENDLINES

FAIRFIELD COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

BETHEL 1 Family

8

14

75.00%

128

156

21.88%

$309,950

$342,500

10.50%

$297,500

$290,000

-2.52%

Condo

4

4

0.00%

51

83

62.75%

$398,475

$159,250

-60.04%

$230,000

$290,000

26.09%

1 3

27

107.69%

230

285

23.91%

$381,950

$350,000

-8.36%

$290,000

$302,595

4.34%

All Sales

BRIDGEPORT 1 Family

3 7

46

24.32%

388

448

15.46%

$175,000

$157,250

-10.14%

$149,500

$153,000

2.34%

Condo

1 7

16

-5.88%

153

163

6.54%

$70,000

$45,000

-35.71%

$71,000

$66,000

-7.04%

108

22.73%

918

1,054

14.81%

$148,500

$125,000

-15.82%

$135,000

$132,550

-1.81%

All Sales

8 8

BROOKFIELD 1 Family

1 1

13

18.18%

147

163

10.88%

$299,900

$337,000

12.37%

$355,000

$359,000

1.13%

Condo

9

5

-44.44%

60

61

1.67%

$193,000

$203,500

5.44%

$188,750

$188,000

-0.40%

2 7

23

-14.81%

276

282

2.17%

$294,000

$305,000

3.74%

$325,000

$320,000

-1.54%

1 Family

3 2

41

28.13%

359

372

3.62%

$258,700

$297,000

14.80%

$262,000

$269,000

2.67%

Condo

2 6

23

-11.54%

285

319

11.93%

$201,000

$145,500

-27.61%

$210,000

$190,000

-9.52%

8 0

86

7.50%

875

937

7.09%

$255,000

$283,000

10.98%

$259,000

$260,000

0.39%

1 5

17

13.33%

292

318

8.90%

$1,405,000

$1,350,000

-3.91% $1,365,000

$1,400,000

2.56%

N/A -100.00% $1,037,500

$1,586,124

52.88%

$1,425,000

5.95%

$590,000

2.08%

All Sales

DANBURY

All Sales

DARIEN 1 Family Condo

4

1

-75.00%

30

31

3.33%

$567,000

2 0

21

5.00%

345

385

11.59%

$1,374,250

$1,350,000

1 Family

5

5

0.00%

82

97

18.29%

$480,000

$465,000

Condo

0

0

0

0

5

7

40.00%

90

109

All Sales

-1.76% $1,345,000

EASTON

All Sales

N/A

N/A

N/A

N/A

21.11%

$480,000

$465,000

-3.13% N/A

$578,000 N/A

N/A

N/A

-3.13%

$578,000

$580,000

0.35%

2.00%

FAIRFIELD 1 Family

3 9

52

33.33%

565

685

21.24%

$475,000

$592,000

24.63%

$549,000

$560,000

Condo

8

6

-25.00%

106

84

-20.75%

$412,500

$362,000

-12.24%

$440,000

$367,500 -16.48%

5 8

66

13.79%

760

869

14.34%

$503,500

$517,500

2.78%

$528,577

$530,000

0.27%

-18.12% $1,575,000

All Sales

GREENWICH 1 Family

3 0

17

-43.33%

346

393

13.58%

$1,435,000

$1,175,000

Condo

1 0

16

60.00%

106

139

31.13%

$608,500

$765,000

4 8

39

-18.75%

541

632

16.82%

$1,065,000

$775,000

1 Family

6

12

100.00%

131

176

34.35%

$275,000

$304,500

10.73%

$330,000

$348,500

5.61%

Condo

6

6

0.00%

52

62

19.23%

$193,000

$206,000

6.74%

$222,500

$202,000

-9.21%

1 2

21

75.00%

198

263

32.83%

$238,000

$277,000

16.39%

$315,000

$310,650

-1.38%

4.98% $1,560,000

All Sales

$1,500,000

-4.76%

$701,500

$665,000

-5.20%

-27.23% $1,175,000

$1,200,000

2.13%

25.72%

MONROE

All Sales

NEW CANAAN 1 Family

1 5

16

6.67%

269

270

0.37%

$1,430,000

$1,501,250

$1,456,625

-6.63%

Condo

6

3

-50.00%

78

51

-34.62%

$825,000

$1,250,000

51.52%

$672,500

$810,000

20.45%

2 1

21

0.00%

374

356

-4.81%

$1,275,000

$1,250,000

-1.96% $1,317,500

$1,327,500

0.76%

16.67%

156

157

0.64%

$363,000

$311,000

$350,000

10.58%

3

23

666.67%

15.79%

190

204

7.37%

$324,875

$306,015

-5.81%

$302,500

$320,200

$390,600

$297,500

-23.84%

$364,500

$367,500

0.82%

N/A $357,943

$336,383

-6.02%

$358,750

-1.37%

All Sales

NEW FAIRFIELD 1 Family

1 2

14

Condo

0

3

1 9

22

All Sales

N/A

N/A

$315,030

-14.33%

$316,500

N/A $330,000

$289,900 -12.15% 5.85%

NEWTOWN 1 Family

1 9

15

-21.05%

316

315

-0.32%

Condo

1

3

200.00%

37

33

-10.81%

2 9

19

-34.48%

403

390

-3.23%

All Sales

24 | THE COMMERCIAL RECORD | JANUARY 2016

N/A $390,600

$336,383 $304,000

-22.17%

$363,730

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

NORWALK 1 Family

4 8

44

-8.33%

491

587

19.55%

$456,250

$400,500

-12.22%

$430,000

$447,500

4.07%

Condo

2 7

25

-7.41%

249

301

20.88%

$275,000

$270,000

-1.82%

$250,000

$270,000

8.00%

8 3

87

4.82%

900

1,037

15.22%

$389,900

$370,000

-5.10%

$358,975

$375,000

4.46%

1 Family

9

12

33.33%

81

108

33.33%

$599,000

$622,500

3.92%

$555,000

$511,250

-7.88%

Condo

0

0

2

0

-100.00%

1 0

14

40.00%

100

123

23.00%

$610,000

$660,000

8.20%

$542,500

$512,500

-5.53%

24

41.18%

305

292

-4.26%

$584,800

$540,000

-7.66%

$650,000

$646,900

-0.48%

0 -100.00%

57

68

19.30%

$235,000

N/A -100.00%

$270,000

$223,500 -17.22%

23.96%

$610,000

$592,500

-2.87%

-4.79%

All Sales

REDDING

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

RIDGEFIELD 1 Family

1 7

Condo

3

All Sales

2 0

28

40.00%

394

388

-1.52%

$538,500

$667,500

1 Family

3 3

24

-27.27%

247

309

25.10%

$342,300

$311,000

-9.14%

$315,000

$299,900

Condo

1 1

10

-9.09%

112

152

35.71%

$227,000

$309,500

36.34%

$252,500

$268,750

6.44%

44

-22.81%

427

537

25.76%

$342,300

$316,000

-7.68%

$300,000

$295,000

-1.67%

-25.00%

43

52

20.93%

$682,500

$380,000

-44.32%

$485,000

$435,000 -10.31%

0

0

SHELTON

All Sales

5 7

SHERMAN 1 Family

4

3

Condo

0

0

7

3

-57.14%

55

56

1.82%

$400,000

$380,000

-5.00%

$415,000

$415,000

0.00%

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

STAMFORD 1 Family

3 6

40

11.11%

471

613

30.15%

$575,000

$485,000

-15.65%

$605,000

$550,000

-9.09%

Condo

3 2

34

6.25%

497

491

-1.21%

$309,000

$327,500

5.99%

$310,000

$300,000

-3.23%

93

8.14% 1,147

1,322

15.26%

$432,500

$422,000

-2.43%

$447,500

$432,250

-3.41%

-2.43%

All Sales

8 6

STRATFORD 1 Family

4 1

44

7.32%

383

460

20.10%

$250,000

$247,500

-1.00%

$230,100

$224,500

Condo

8

20

150.00%

120

144

20.00%

$150,000

$192,000

28.00%

$178,000

$180,000

1.12%

5 5

80

45.45%

583

735

26.07%

$229,900

$215,051

-6.46%

$220,000

$212,000

-3.64%

$304,750

$332,000

8.94%

$368,500

$358,250

-2.78%

N/A $334,950

$322,250

-3.79%

All Sales

TRUMBULL 1 Family

2 5

23

-8.00%

340

368

8.24%

Condo

2

2

0.00%

32

32

0.00%

2 8

28

0.00%

403

435

7.94%

$307,375

$330,500

7.52%

$365,000

$350,000

-4.11%

1 Family

9

11

22.22%

135

142

5.19%

$549,900

$607,500

10.47%

$810,000

$802,500

-0.93%

Condo

0

0

1

0

-100.00%

9

13

44.44%

153

159

3.92%

$549,900

$607,500

45.45%

336

339

0.89%

$1,160,750

$1,095,000

28

22

-21.43%

23.33%

426

414

-2.82%

$1,276,250

$1,020,000

$535,000

All Sales

N/A

N/A

WESTON

All Sales

N/A

N/A

N/A

N/A 10.47%

N/A

N/A

N/A

$775,000

$795,000

2.58%

-5.66% $1,190,000

$1,175,000

-1.26%

WESTPORT 1 Family

2 2

32

Condo

0

0

3 0

37

1 Family

1 3

12

-7.69%

210

186

-11.43%

$976,000

Condo

4

1

-75.00%

38

32

-15.79%

$431,251

1 7

15

-11.76%

272

242

-11.03%

$880,000

$575,000

All Sales

N/A

N/A

N/A

N/A $707,000 -20.08% $1,050,000

$586,375 -17.06% $1,095,000

4.29%

2.05%

WILTON

All Sales

-45.18%

$803,000

$819,500

N/A -100.00%

$369,000

$398,500

7.99%

-34.66%

$770,000

$769,500

-0.06%

FAIRFIELD COUNTY 1 Family

4 86

531

9.26% 6,221

7,006

12.62%

$426,000

$385,000

-9.62%

$475,000

$460,000

-3.16%

Condo

1 78

178

0.00% 2,097

2,291

9.25%

$273,875

$240,811

-12.07%

$273,000

$269,000

-1.47%

902

9.73% 10,060

11,214

11.47%

$373,175

$338,000

-9.43%

$393,000

$380,000

-3.31%

All Sales

8 22

JANUARY 2016 | THE COMMERCIAL RECORD | 25

TRENDLINES

HARTFORD COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2 3 1 2 3 8

7 15 25

-69.57% 25.00% -34.21%

196 113 350

1 1 1 1 7

12 2 19

9.09% 100.00% 11.76%

1 5 6 2 3

16 1 25

2 3 6 3 6

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

210 132 375

7.14% 16.81% 7.14%

$369,900 $218,500 $288,750

$525,209 $255,000 $280,000

164 44 255

156 48 249

-4.88% 9.09% -2.35%

$284,900 N/A $266,000

$297,100 N/A $280,000

6.67% -83.33% 8.70%

146 45 228

216 56 304

47.95% 24.44% 33.33%

$192,000 $309,000 $242,500

$138,000 -28.13% N/A -100.00% $197,500 -18.56%

$175,000 $231,000 $180,000

$174,375 -0.36% $177,750 -23.05% $179,950 -0.03%

30 7 52

30.43% 16.67% 44.44%

369 83 555

446 89 659

20.87% 7.23% 18.74%

$156,000 $117,749 $139,900

$170,500 $117,000 $142,500

$179,000 $110,350 $165,000

$176,000 $107,500 $165,000

3 0 3

7 0 7

133.33% N/A 133.33%

72 1 92

108 1 126

50.00% 0.00% 36.96%

$232,000 N/A $232,000

$298,000 28.45% $336,057 N/A N/A N/A $298,000 28.45% $340,153

$299,000 -11.03% N/A N/A $296,250 -12.91%

1 0 1 1 2

7 3 15

-30.00% 200.00% 25.00%

97 27 142

94 39 159

-3.09% 44.44% 11.97%

$300,000 N/A $300,000

$230,000 $225,500 $250,000

$302,000 -11.18% $194,000 -9.77% $280,000 -5.88%

7 40.00% 0 -100.00% 8 33.33%

54 13 75

50 9 67

-7.41% -30.77% -10.67%

$223,000 N/A $229,600

$245,000 N/A $243,750

45 150.00% 0 -100.00% 62 77.14%

335 37 488

390 39 552

16.42% 5.41% 13.11%

$129,000 $88,088 $116,175

$125,000 -3.10% N/A -100.00% $137,000 17.93%

$138,000 $62,500 $132,000

$134,950 -2.21% $53,000 -15.20% $133,000 0.76%

1 0 3 2 0

7 2 12

-30.00% -33.33% -40.00%

78 41 167

87 41 168

11.54% 0.00% 0.60%

$193,000 $147,000 $145,375

$225,500 16.84% N/A -100.00% $198,450 36.51%

$189,000 $149,900 $150,000

$186,000 $157,000 $161,500

-1.59% 4.74% 7.67%

3 8 6 4 6

40 6 52

5.26% 0.00% 13.04%

382 89 524

418 104 574

9.42% 16.85% 9.54%

$163,000 $150,500 $165,000

$151,950 $140,450 $150,200

-6.78% -6.68% -8.97%

$160,000 $135,100 $159,450

$165,000 $137,500 $161,625

3.13% 1.78% 1.36%

20 14 35

185.71% -33.33% 20.69%

202 142 385

193 148 385

-4.46% 4.23% 0.00%

$373,500 $151,000 $173,000

$296,000 $173,200 $255,000

-20.75% 14.70% 47.40%

$363,950 $189,950 $286,000

$350,000 $185,000 $277,000

-3.83% -2.61% -3.15%

2 3 7 3 5

30 5 35

30.43% -28.57% 0.00%

312 106 482

359 120 542

15.06% 13.21% 12.45%

$350,000 $166,000 $265,000

$349,000 $160,000 $295,000

-0.29% -3.61% 11.32%

$350,000 $190,000 $304,425

$354,000 1.14% $168,950 -11.08% $305,250 0.27%

7 0 1 0

11 3 17

57.14% N/A 70.00%

93 13 134

141 19 183

51.61% 46.15% 36.57%

$301,000 N/A $308,775

$287,500 $272,000 $272,000

-4.49% $270,000 N/A $167,500 -11.91% $250,000

$275,000 $174,900 $261,000

18 7 61

-5.26% 75.00% 29.79%

207 79 643

228 100 669

10.14% 26.58% 4.04%

$105,000 $109,450 $100,000

$140,000 $80,000 $120,000

33.33% -26.91% 20.00%

$109,000 -9.17% $56,000 -3.45% $115,000 -10.85%

3 0 3

N/A N/A 200.00%

6 0 11

19 0 20

216.67% N/A 81.82%

AVON 1 Family Condo All Sales

41.99% 16.70% -3.03%

$422,475 $220,000 $334,000

$449,500 $220,000 $332,500

6.40% 0.00% -0.45%

4.28% $249,950 N/A $235,025 5.26% $249,000

$255,000 $242,950 $248,925

2.02% 3.37% -0.03%

BERLIN 1 Family Condo All Sales

BLOOMFIELD 1 Family Condo All Sales

BRISTOL 1 Family Condo All Sales

9.29% -0.64% 1.86%

-1.68% -2.58% 0.00%

BURLINGTON 1 Family Condo All Sales

CANTON 1 Family Condo All Sales

-23.33% $340,000 N/A $215,000 -16.67% $297,500

EAST GRANBY 1 Family Condo All Sales

5 1 6

9.87% $242,450 N/A $146,250 6.16% $240,000

$248,000 $144,900 $252,500

2.29% -0.92% 5.21%

EAST HARTFORD 1 Family Condo All Sales

1 8 4 3 5

EAST WINDSOR 1 Family Condo All Sales

ENFIELD 1 Family Condo All Sales

FARMINGTON 1 Family Condo All Sales

7 2 1 2 9

GLASTONBURY 1 Family Condo All Sales

GRANBY 1 Family Condo All Sales

1.85% 4.42% 4.40%

HARTFORD 1 Family Condo All Sales

1 9 4 4 7

$120,000 $58,000 $129,000

HARTLAND 1 Family Condo All Sales

0 0 1

26 | THE COMMERCIAL RECORD | JANUARY 2016

N/A N/A N/A

$323,000 N/A $323,000

N/A $260,000 N/A N/A N/A $190,000

$255,000 -1.92% N/A N/A $257,450 35.50%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

MANCHESTER 1 Family Condo All Sales

3 9 6 5 6

36 12 60

-7.69% 100.00% 7.14%

436 83 626

437 85 628

0.23% 2.41% 0.32%

$180,000 $115,000 $170,500

$156,450 $117,500 $156,450

2 2 5

-60.00% 100.00% -28.57%

61 9 83

70 9 92

30 8 61

30.43% 60.00% 41.86%

307 58 587

21 13 37

16.67% 18.18% 23.33%

19 7 31

-13.08% 2.17% -8.24%

$166,950 $116,000 $159,092

$160,900 $119,000 $156,700

-3.62% 2.59% -1.50%

14.75% 0.00% 10.84%

$248,000 N/A $215,000

N/A -100.00% $275,000 N/A N/A $212,500 $203,000 -5.58% $250,000

$264,750 $203,000 $236,000

-3.73% -4.47% -5.60%

322 67 603

4.89% 15.52% 2.73%

$120,000 $119,000 $125,000

$132,500 $94,950 $130,000

10.42% -20.21% 4.00%

$129,500 $103,750 $125,000

$130,000 0.39% $79,600 -23.28% $127,900 2.32%

216 100 337

253 113 411

17.13% 13.00% 21.96%

$195,350 $149,000 $180,000

$209,900 $124,500 $190,000

7.45% -16.44% 5.56%

$204,250 $146,750 $195,000

$210,000 $139,900 $195,000

2.82% -4.67% 0.00%

216.67% 75.00% 106.67%

120 47 198

143 52 232

19.17% 10.64% 17.17%

$191,250 $87,000 $187,500

$192,000 $141,000 $173,900

0.39% 62.07% -7.25%

$178,950 $132,500 $169,525

$179,900 $145,250 $175,000

0.53% 9.62% 3.23%

11 7 20

266.67% -12.50% 33.33%

82 95 199

107 103 236

30.49% 8.42% 18.59%

$186,000 $186,875 $190,000

$247,500 $180,000 $210,000

33.06% -3.68% 10.53%

$241,000 $154,000 $210,000

$241,500 $166,250 $199,950

0.21% 7.95% -4.79%

26 7 35

13.04% 40.00% 12.90%

262 69 350

271 69 363

3.44% 0.00% 3.71%

$290,000 $145,000 $290,000

$296,250 $159,000 $289,900

2.16% 9.66% -0.03%

$328,450 $185,000 $309,575

$309,818 -5.67% $164,000 -11.35% $293,000 -5.35%

14 9 26

27.27% 125.00% 62.50%

139 69 243

206 107 342

48.20% 55.07% 40.74%

$260,000 $106,950 $245,450

$280,500 7.88% $240,000 124.40% $242,500 -1.20%

$280,000 $125,000 $230,900

$265,950 $155,000 $239,950

-5.02% 24.00% 3.92%

29 10 46

7.41% 100.00% 24.32%

328 74 592

317 83 504

-3.35% 12.16% -14.86%

$314,000 $115,000 $265,000

$287,500 $151,000 $250,750

-8.44% 31.30% -5.38%

$265,500 $157,950 $239,000

$245,000 $172,500 $231,450

-7.72% 9.21% -3.16%

4 -60.00% 0 -100.00% 6 -68.42%

115 29 185

116 36 196

0.87% 24.14% 5.95%

$382,500 $165,000 $294,000

$535,000 39.87% N/A -100.00% $470,000 59.86%

$320,000 $195,000 $290,000

$284,750 -11.02% $149,950 -23.10% $274,950 -5.19%

MARLBOROUGH 1 Family Condo All Sales

5 1 7

NEW BRITAIN 1 Family Condo All Sales

2 3 5 4 3

NEWINGTON 1 Family Condo All Sales

1 8 1 1 3 0

PLAINVILLE 1 Family Condo All Sales

6 4 1 5

ROCKY HILL 1 Family Condo All Sales

3 8 1 5

SIMSBURY 1 Family Condo All Sales

2 3 5 3 1

SOUTH WINDSOR 1 Family Condo All Sales

1 1 4 1 6

SOUTHINGTON 1 Family Condo All Sales

2 7 5 3 7

SUFFIELD 1 Family Condo All Sales

1 0 5 1 9

WEST HARTFORD 1 Family Condo All Sales

4 4 1 4 6 8

51 6 66

15.91% -57.14% -2.94%

606 116 775

638 123 836

5.28% 6.03% 7.87%

$268,750 $223,600 $257,000

$255,000 $194,000 $262,750

-5.12% -13.24% 2.24%

$298,000 $209,000 $287,500

$296,188 $235,000 $290,000

-0.61% 12.44% 0.87%

2 1 3 2 6

20 4 29

-4.76% 33.33% 11.54%

285 55 357

291 57 390

2.11% 3.64% 9.24%

$244,000 $235,000 $237,500

$192,720 $111,000 $197,940

-21.02% -52.77% -16.66%

$219,500 $141,000 $205,000

$223,700 $141,500 $210,000

1.91% 0.35% 2.44%

2 0 5 2 6

21 4 29

5.00% -20.00% 11.54%

220 39 286

268 49 362

21.82% 25.64% 26.57%

$159,250 $250,000 $164,750

$195,000 $201,500 $195,000

22.45% -19.40% 18.36%

$193,900 $200,000 $191,250

$185,450 $188,500 $188,250

-4.36% -5.75% -1.57%

19 4 26

72.73% 100.00% 85.71%

109 20 148

119 33 188

9.17% 65.00% 27.03%

$193,500 N/A $160,250

$166,000 $123,500 $161,750

-14.21% $163,500 N/A $124,000 0.94% $160,000

$158,000 $124,000 $157,250

-3.36% 0.00% -1.72%

19.03% 5,999 5.33% 1,696 18.92% 9,497

6,673 1,931 10,415

11.24% 13.86% 9.67%

$212,500 $162,500 $194,000

$199,900 $157,500 $186,500

$210,000 $155,000 $194,000

-2.33% -1.87% -0.51%

WETHERSFIELD 1 Family Condo All Sales

WINDSOR 1 Family Condo All Sales

WINDSOR LOCKS 1 Family Condo All Sales

1 1 2 1 4

HARTFORD COUNTY 1 Family Condo All Sales

4 73 1 50 7 61

563 158 905

-5.93% -3.08% -3.87%

$215,000 $157,950 $195,000

JANUARY 2016 | THE COMMERCIAL RECORD | 27

TRENDLINES

LITCHFIELD COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

BARKHAMSTED 1 Family Condo All Sales

2 0 3

6 0 6

200.00% N/A 100.00%

32 0 45

37 0 47

15.63% N/A 4.44%

N/A N/A $340,500

$177,250 N/A $231,625 N/A N/A N/A $177,250 -47.94% $225,000

$222,500 -3.94% N/A N/A $205,000 -8.89%

1 0 4

-66.67% N/A 33.33%

20 0 23

32 0 38

60.00% N/A 65.22%

$283,000 N/A $283,000

N/A -100.00% $288,250 N/A N/A N/A $69,575 -75.42% $290,000

$251,000 -12.92% N/A N/A $250,000 -13.79%

5 0 5

4 0 6

-20.00% N/A 20.00%

25 2 30

22 2 30

-12.00% 0.00% 0.00%

$550,000 N/A $550,000

$730,000 32.73% $380,000 N/A N/A N/A $730,000 32.73% $372,500

$465,000 22.37% N/A N/A $465,000 24.83%

1 0 1

1 0 3

0.00% N/A 200.00%

5 0 7

9 0 16

80.00% N/A 128.57%

N/A N/A N/A

N/A N/A $15,000

N/A $248,000 N/A N/A N/A $245,000

$239,000 -3.63% N/A N/A $227,000 -7.35%

0 0 3

N/A N/A N/A

9 0 11

13 0 19

44.44% N/A 72.73%

N/A N/A N/A

N/A N/A $440,000

N/A $207,025 N/A N/A N/A $237,000

$215,000 3.85% N/A N/A $220,000 -7.17%

1 0 1

2 0 3

100.00% N/A 200.00%

10 0 19

10 0 17

0.00% N/A -10.53%

N/A N/A N/A

N/A N/A $300,000

N/A $310,000 N/A N/A N/A $275,000

$367,500 18.55% N/A N/A $165,000 -40.00%

2 0 3

7 0 12

250.00% N/A 300.00%

35 2 51

50 0 69

$600,000 N/A $316,000 N/A N/A N/A $600,000 200.00% $280,000

$320,000 1.27% N/A N/A $315,000 12.50%

7 0 7

1 0 2

-85.71% N/A -71.43%

47 0 65

53 2 82

$190,000 N/A -100.00% $219,600 N/A N/A N/A N/A $190,000 -100.00% $215,000

$219,000 -0.27% N/A N/A $202,500 -5.81%

2 0 4

2 0 4

0.00% N/A 0.00%

16 5 32

33 10 53

106.25% 100.00% 65.63%

N/A N/A $329,250

N/A N/A $274,500 N/A N/A $169,000 $202,500 -38.50% $256,000

$315,000 $165,000 $256,000

5 0 7

3 3 13

-40.00% N/A 85.71%

55 6 92

56 9 108

1.82% 50.00% 17.39%

$270,000 N/A $270,000

$348,600 $336,552 $298,000

$296,500 -10.15% $336,552 9.89% $275,000 -5.66%

0 0 1

3 0 6

N/A N/A 500.00%

26 0 37

33 0 42

6 0 8

200.00% N/A 100.00%

42 2 58

73 7 101

73.81% 250.00% 74.14%

217 60 349

249 78 389

14.75% 30.00% 11.46%

14 0 19

20 0 26

BETHLEHEM 1 Family Condo All Sales

3 0 3

BRIDGEWATER 1 Family Condo All Sales

CANAAN 1 Family Condo All Sales

COLEBROOK 1 Family Condo All Sales

0 0 0

CORNWALL 1 Family Condo All Sales

GOSHEN 1 Family Condo All Sales

42.86% -100.00% 35.29%

N/A N/A $200,000

HARWINTON 1 Family Condo All Sales

12.77% N/A 26.15%

KENT 1 Family Condo All Sales

14.75% -2.37% 0.00%

LITCHFIELD 1 Family Condo All Sales

29.11% $330,000 N/A $306,250 10.37% $291,500

MORRIS 1 Family Condo All Sales

26.92% N/A 13.51%

N/A N/A N/A

$175,000 N/A $124,744

N/A $310,250 N/A N/A N/A $270,000

$263,000 -15.23% N/A N/A $249,500 -7.59%

N/A N/A $160,000

$283,500 N/A $289,775 N/A N/A N/A $273,500 70.94% $247,500

$230,000 -20.63% $99,750 N/A $209,000 -15.56%

$338,000 $138,750 $265,000

$255,000 $102,000 $225,500

$279,900 4.83% $109,500 -21.36% $235,000 -6.00%

NEW HARTFORD 1 Family Condo All Sales

2 0 4

NEW MILFORD 1 Family Condo All Sales

1 1 4 2 1

26 10 42

136.36% 150.00% 100.00%

-24.56% -26.49% -14.91%

$267,000 $139,250 $250,000

NORFOLK 1 Family Condo All Sales

1 0 1

0 -100.00% 0 N/A 0 -100.00%

42.86% N/A 36.84%

28 | THE COMMERCIAL RECORD | JANUARY 2016

N/A N/A N/A

N/A N/A N/A

N/A $262,500 N/A N/A N/A $275,000

$229,000 -12.76% N/A N/A $190,000 -30.91%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

NORTH CANAAN 1 Family

1

1

0.00%

13

20

53.85%

N/A

N/A

N/A $135,000

Condo

1

0 -100.00%

2

0

-100.00%

N/A

N/A

N/A

78.95%

N/A

All Sales

2

3

50.00%

19

34

-33.33%

93

86

-7.53%

6

8

33.33%

$134,400

N/A

N/A $100,000

$130,156 N/A $134,400

-3.59% N/A 34.40%

PLYMOUTH 1 Family

9

6

Condo

0

0

1 0

8

-20.00%

132

119

-9.85%

$153,450

$115,000

1 Family

3

5

66.67%

30

32

6.67%

$800,000

$450,000

Condo

0

0

0

0

5

5

0.00%

39

45

15.38%

$537,500

$450,000

-16.28%

$556,000

$450,000 -19.06%

$365,000

$175,000

-52.05%

$358,000

$420,000

All Sales

N/A

$145,900 N/A

$136,750 N/A

-6.27%

$171,400

$160,250

-6.51%

$99,000

$122,420

23.66%

-25.06%

$156,500

$151,000

-3.51%

-43.75%

$630,000

$541,500 -14.05%

N/A

ROXBURY

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

SALISBURY 1 Family

3

3

0.00%

43

30

-30.23%

Condo

1

0 -100.00%

8

1

-87.50%

All Sales

N/A

N/A $175,000

N/A $315,000

17.32%

N/A -100.00%

4

3

-25.00%

73

44

-39.73%

$283,818

-38.34%

$350,000

$382,500

9.29%

1 Family

3

2

-33.33%

32

34

6.25%

$299,900

Condo

0

0

1

1

0.00%

N/A -100.00%

$393,250

$330,500 -15.96%

4

3

-25.00%

56

51

-8.93%

$289,950

$250,000

-13.78%

$297,450

$284,000

$235,000

$188,000

-20.00%

$193,000

$197,700

2.44%

$95,000

$107,000

12.63%

20.76%

$164,900

$169,900

3.03%

$125,000 -10.68%

SHARON

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A -4.52%

THOMASTON 1 Family

3

5

66.67%

54

45

-16.67%

Condo

2

0 -100.00%

13

8

-38.46%

8

33.33%

77

69

-10.39%

$132,450

$159,950

All Sales

6

N/A

N/A

N/A

TORRINGTON 1 Family

2 2

17

-22.73%

284

285

0.35%

$146,000

$134,900

-7.60%

$139,950

Condo

4

7

75.00%

45

71

57.78%

$91,500

$60,000

-34.43%

$92,700

$77,500 -16.40%

3 6

40

11.11%

397

435

9.57%

$126,750

$78,000

-38.46%

$131,900

$112,000 -15.09%

1 Family

1

2

100.00%

11

17

54.55%

$270,000 -48.57%

Condo

0

0

0

0

2

2

0.00%

17

23

35.29%

266.67%

42

54

28.57%

4

7

75.00% 40.00%

$975,000

$270,000

-72.31%

$580,000

$458,500 -20.95%

$184,000

$184,000

0.00%

$193,500

$195,000

All Sales

WARREN

All Sales

N/A

N/A

N/A

N/A

N/A $525,000

N/A

N/A

N/A

N/A

N/A

N/A $500,000

N/A

N/A

N/A

$270,000 -46.00%

WASHINGTON 1 Family

3

11

Condo

0

0

4

15

275.00%

60

84

30.77%

156

204

30.77%

23

20

-13.04% 26.24%

$186,600

$165,000

-11.58%

$190,000

$180,000

-5.26%

$144,750

$93,000

-35.75%

$129,900

$135,000

3.93%

All Sales

N/A

$1,150,000 N/A

$262,000 N/A

-77.22%

$641,000

N/A $202,500

$470,000 -26.68% $250,000

23.46%

WATERTOWN 1 Family

1 3

17

Condo

0

4

1 5

27

80.00%

221

279

All Sales

N/A

N/A

$157,750

N/A $170,000

0.78%

$143,500 -15.59%

WINCHESTER 1 Family

6

9

50.00%

75

100

33.33%

Condo

2

0 -100.00%

9

6

-33.33%

10.00%

110

130

18.18%

$144,750

$157,500

8.81%

$119,750

$130,000

8.56%

$404,950

$300,000

-25.92%

$317,500

$292,000

-8.03%

All Sales

1 0

11

N/A

N/A

N/A

$86,500

$52,450 -39.36%

WOODBURY 1 Family

6

9

50.00%

56

77

37.50%

Condo

1

3

200.00%

28

45

60.71%

1 2

14

16.67%

131

145

10.69%

$290,700

$287,500

-1.10%

$274,900

$253,000

-7.97%

29.57% 1,442

-2.27%

All Sales

N/A

$107,500

N/A $125,000

$107,500 -14.00%

LITCHFIELD COUNTY 1 Family

1 15

149

Condo

1 5

27

1 71

251

All Sales

1,674

16.09%

$230,000

$215,000

-6.52%

$220,000

$215,000

216

275

27.31%

$100,000

$105,000

5.00%

$125,750

$105,000 -16.50%

46.78% 2,170

2,495

14.98%

$190,000

$188,000

-1.05%

$200,000

$190,000

80.00%

-5.00%

JANUARY 2016 | THE COMMERCIAL RECORD | 29

TRENDLINES

MIDDLESEX COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

CHESTER 1 Family Condo All Sales

6 0 7

5 0 5

-16.67% N/A -28.57%

45 2 54

44 2 51

-2.22% 0.00% -5.56%

$243,000 N/A $235,000

$200,000 -17.70% $246,000 N/A N/A N/A $200,000 -14.89% $243,450

$305,500 24.19% N/A N/A $300,000 23.23%

9 0 1 0

12 6 24

33.33% N/A 140.00%

111 16 158

157 22 205

41.44% 37.50% 29.75%

$277,500 N/A $249,000

$259,500 $129,750 $227,500

$255,000 $141,000 $240,000

8 10 25

100.00% 66.67% 78.57%

74 100 206

98 108 248

32.43% 8.00% 20.39%

$281,575 $135,175 $201,625

$198,000 $113,000 $150,000

$205,000 -41.41% $234,500 N/A N/A $130,750 $170,000 -51.41% $228,000

CLINTON 1 Family Condo All Sales

-6.49% $250,000 N/A $103,000 -8.63% $229,500

2.00% 36.89% 4.58%

CROMWELL 1 Family Condo All Sales

4 6 1 4

-29.68% -16.40% -25.60%

$253,000 $134,750 $181,500

$220,000 -13.04% $126,500 -6.12% $175,000 -3.58%

DEEP RIVER 1 Family Condo All Sales

3 0 5

3 0 4

0.00% N/A -20.00%

33 4 47

38 8 52

15.15% 100.00% 10.64%

$349,900 N/A $349,900

$227,500 $141,225 $221,750

-2.99% 8.01% -2.74%

8 0 1 1

2 0 2

-75.00% N/A -81.82%

63 1 79

53 7 70

-15.87% 600.00% -11.39%

$256,850 N/A $246,500

N/A -100.00% $267,200 N/A N/A N/A N/A -100.00% $260,000

$304,000 $229,000 $287,450

13.77% N/A 10.56%

6 0 9

-14.29% N/A 0.00%

84 1 115

92 5 129

9.52% 400.00% 12.17%

$250,000 N/A $200,000

$237,000 -5.20% $235,000 N/A N/A N/A $229,000 14.50% $225,000

$211,000 -10.21% $150,000 N/A $198,400 -11.82%

6 0 8

11 3 18

83.33% N/A 125.00%

104 10 138

150 26 196

44.23% 160.00% 42.03%

$216,000 N/A $216,000

$219,000 $172,000 $222,000

1.39% $238,250 N/A $117,400 2.78% $231,700

$239,500 $146,000 $226,200

0.52% 24.36% -2.37%

4 0 7

9 1 12

125.00% N/A 71.43%

66 11 90

62 14 97

-6.06% 27.27% 7.78%

$397,500 N/A $370,000

$390,000 -1.89% $365,000 N/A N/A $208,000 $325,000 -12.16% $316,000

$382,450 $221,250 $334,900

4.78% 6.37% 5.98%

7 0 9

4 0 6

-42.86% N/A -33.33%

66 0 95

67 0 94

1.52% N/A -1.05%

$292,500 N/A $289,000

$137,450 -53.01% $282,000 N/A N/A N/A $135,000 -53.29% $265,000

$245,000 -13.12% N/A N/A $220,750 -16.70%

4 0 4

-33.33% N/A -33.33%

63 0 96

58 0 65

-7.94% N/A -32.29%

$327,500 N/A $327,500

$362,000 10.53% $355,000 N/A N/A N/A $362,000 10.53% $339,450

$350,000 -1.41% N/A N/A $350,000 3.11%

3 1 5

-25.00% N/A 25.00%

37 4 55

44 4 55

18.92% 0.00% 0.00%

$187,200 N/A $187,200

$180,000 -3.85% $215,000 N/A N/A $204,656 $265,000 41.56% $215,000

$245,000 $286,726 $240,000

13.95% 40.10% 11.63%

DURHAM 1 Family Condo All Sales

EAST HADDAM 1 Family Condo All Sales

7 0 9

EAST HAMPTON 1 Family Condo All Sales

ESSEX 1 Family Condo All Sales

HADDAM 1 Family Condo All Sales

KILLINGWORTH 1 Family Condo All Sales

6 0 6

MIDDLEFIELD 1 Family Condo All Sales

4 0 4

MIDDLETOWN 1 Family Condo All Sales

2 4 7 3 6

27 14 51

12.50% 100.00% 41.67%

270 96 426

298 105 471

10.37% 9.38% 10.56%

$240,250 $108,000 $214,500

$189,000 $116,500 $145,000

-21.33% 7.87% -32.40%

$215,000 $113,000 $185,000

$198,950 $114,000 $170,000

-7.47% 0.88% -8.11%

12 3 15

9.09% 200.00% 15.38%

146 15 194

182 25 233

24.66% 66.67% 20.10%

$394,000 N/A $394,000

$313,500 $320,000 $320,000

-20.43% $349,200 N/A $335,000 -18.78% $345,000

$340,000 $345,000 $333,000

-2.63% 2.99% -3.48%

9 28.57% 0 -100.00% 13 44.44%

84 15 117

98 19 142

16.67% 26.67% 21.37%

$203,000 N/A $203,000

$220,000 N/A $215,000

8.37% $224,700 N/A $175,000 5.91% $217,500

$203,500 $170,000 $199,450

-9.43% -2.86% -8.30%

OLD SAYBROOK 1 Family Condo All Sales

1 1 1 1 3

PORTLAND 1 Family Condo All Sales

7 1 9

30 | THE COMMERCIAL RECORD | JANUARY 2016

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www.commercialrecord.com • subscribers only

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

14 1 32

8 1 23

-42.86% 0.00% -28.13%

$257,500 N/A $206,250

$260,000 0.97% $346,000 N/A N/A N/A $260,000 26.06% $105,493

$252,500 -27.02% N/A N/A $41,000 -61.13%

8.26% 1,260 153.33% 276 28.95% 1,902

1,449 346 2,131

15.00% 25.36% 12.04%

$267,200 $125,000 $246,750

$230,000 $130,950 $205,500

$247,000 $136,500 $225,000

WESTBROOK 1 Family Condo All Sales

3 0 4

3 0 3

0.00% N/A -25.00%

MIDDLESEX COUNTY 1 Family Condo All Sales

1 09 1 5 1 52

118 38 196

-13.92% 4.76% -16.72%

$256,900 $133,000 $235,000

-3.85% 2.63% -4.26%

Looking For More? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage and credit information available from The Warren Group. Our weekly digital records are offered in a convenient, searchable PDF format, and are archived to 2001. Each PDF is organized by county, town and street to make it easy to find exactly the data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Simply visit www.commercialrecord.com, log in, click on the big, red “Records & Research” button in the upper left corner, and get busy putting The Commercial Record to work for you.

THE CONNECTICUT CHAPTER THE CONNECTICUT CHAPTER

APPRAISAL INSTITUTE APPRAISAL INSTITUTE Your best guarantee for professional real estate appraisals is to call one fo the members listed below.

For Membership Packet: 312-335-4100 (Chicago)

George Shawah Jr., MAI, President

www.ai-ct.org Jackie Cswerko, Exec. Director 860-482-9992

Your best guarantee for professional real estate appraisals is to call one fo the members listed below.

MICHAEL FAZIO,For MAI

Membership Packet: 312-335-4100 (Chicago)

CHRISTOPHER MAI John J. KERIN, Galvin, MAI, President

APPRAISAL Jackie Cswerko, Exec.

Director 860-482-9992

R. BRUCE HUNTER, MAI

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617-896-5337 MICHAEL FAZIO, MAI R. BRUCE HUNTER, MAI mfazio@kfvaluation.com JOHN W. NITZ, MAI check out Estates • ConsultingHUNTER ASSOCIATES, LLC RISTOPHER KERIN, MAI, CCIM JOHN W. NITZ & ASSOCIATES, LLC. 772 Farmington Avenue Y CHAPMAN-BAKAL, MAI, SRA Pleaseour website bruceh@hunterllc.com Farmington, CT 06032 APPRAISAL 155 Greystone Drive EDERICK C. WITTE, MAI, SRA (860) 677-9646 KERIN & FAZIO, LLC INSTITUTE Southington, CT 06479-1856 check www.ai-ct.org out (860) 676-9459 FAX 363 Reef Road (860) 276-0298 Commercial • Industrial our website Fairfield, CT 06824 Land Development FAX (860) 276-8464 (203) 259-9500 Easement Valuation www.ai-ct.org COMMERCIAL • INDUSTRIAL www.ctvaluation.com Tax Appeals • Litigation Support

onsulting

KERIN & FAZIO, LLC

aluation

www.ai-ct.org HUNTER ASSOCIATES, LLC

INSTITUTE

erViCes

RESIDENTIAL

JANUARY 2016 | THE COMMERCIAL RECORD | 31

Estates • Consulting bruceh@hunterllc.com

TRENDLINES

NEW HAVEN COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

ANSONIA 1 Family Condo All Sales

1 0 1 1 7

7 -30.00% 0 -100.00% 12 -29.41%

95 3 142

116 3 193

22.11% 0.00% 35.92%

$190,000 N/A $160,000

$155,000 -18.42% $173,000 N/A N/A $35,000 $146,500 -8.44% $177,000

$167,000 $66,200 $160,000

-3.47% 89.14% -9.60%

-14.00% 0.00% -15.96%

$208,500 N/A $293,500

N/A -100.00% $260,000 N/A N/A $118,500 $238,750 -18.65% $221,750

$215,000 -17.31% $255,000 115.19% $229,000 3.27%

2.63% N/A -2.27%

$316,000 N/A $316,000

$250,250 -20.81% $314,000 N/A N/A N/A $250,250 -20.81% $306,000

$335,050 6.70% N/A N/A $339,000 10.78%

BEACON FALLS 1 Family Condo All Sales

4 2 9

2 1 4

-50.00% -50.00% -55.56%

50 16 94

43 16 79

5 0 5

4 0 4

-20.00% N/A -20.00%

38 0 44

39 0 43

11 14 27

-8.33% 27.27% 3.85%

152 143 344

184 168 421

21.05% 17.48% 22.38%

$312,500 $169,900 $255,500

$312,900 $165,950 $234,000

0.13% -2.32% -8.41%

$307,500 $166,500 $233,450

$319,000 $154,950 $248,000

1 8 3 3 0

21 5 29

16.67% 66.67% -3.33%

233 58 354

286 58 382

22.75% 0.00% 7.91%

$331,000 $212,500 $298,500

$338,000 $163,500 $298,500

2.11% -23.06% 0.00%

$321,000 $173,000 $291,750

$316,250 -1.48% $152,750 -11.71% $290,000 -0.60%

3 2 9

5 3 11

66.67% 50.00% 22.22%

53 37 118

75 34 150

41.51% -8.11% 27.12%

$160,000 N/A $153,000

$146,500 $130,000 $130,000

-8.44% $159,000 N/A $129,000 -15.03% $144,600

26 5 33

-7.14% -16.67% -10.81%

225 78 329

256 70 360

13.78% -10.26% 9.42%

$173,400 $105,500 $172,500

$177,500 $205,000 $180,000

2.36% 94.31% 4.35%

1 3 4 2 3

17 2 21

30.77% -50.00% -8.70%

205 38 279

234 31 303

14.15% -18.42% 8.60%

$317,500 $156,450 $264,000

2 1 5 3 2

32 8 47

52.38% 60.00% 46.88%

365 86 516

388 101 571

6.30% 17.44% 10.66%

2 0 3 2 6

14 -30.00% 0 -100.00% 21 -19.23%

198 15 232

225 19 275

2 8 4 3 8

41 8 63

46.43% 100.00% 65.79%

319 73 475

2 4 9

8 1 16

300.00% -75.00% 77.78%

4 1 1 0 6 1

2 1 4 32 5 43

BETHANY 1 Family Condo All Sales

BRANFORD 1 Family Condo All Sales

1 2 1 1 2 6

3.74% -6.94% 6.23%

CHESHIRE 1 Family Condo All Sales

DERBY 1 Family Condo All Sales

$160,000 $130,000 $137,550

0.63% 0.78% -4.88%

$173,000 $116,750 $162,500

$180,000 $124,000 $174,700

4.05% 6.21% 7.51%

$334,000 5.20% N/A -100.00% $334,000 26.52%

$375,000 $190,500 $337,500

$356,750 $233,500 $345,000

-4.87% 22.57% 2.22%

$173,500 $118,000 $161,450

$196,000 $140,000 $188,000

12.97% 18.64% 16.44%

$208,127 $119,000 $185,254

$190,000 $119,900 $175,000

-8.71% 0.76% -5.54%

13.64% 26.67% 18.53%

$418,750 $665,000 $418,750

$360,000 -14.03% N/A -100.00% $340,000 -18.81%

$435,000 $337,700 $429,500

$400,000 -8.05% $237,000 -29.82% $395,000 -8.03%

429 100 671

34.48% 36.99% 41.26%

$167,750 $66,750 $163,750

$153,000 $98,500 $140,000

$153,500 $95,000 $140,000

$150,000 $95,250 $135,000

-2.28% 0.26% -3.57%

60 14 98

72 18 125

20.00% 28.57% 27.55%

N/A $378,250 $382,985

$259,500 N/A $307,951 N/A -100.00% $404,500 $347,500 -9.27% $330,000

$277,500 $369,000 $303,000

-9.89% -8.78% -8.18%

-95.12% -90.00% -93.44%

432 136 658

425 146 653

-1.62% 7.35% -0.76%

$254,000 $172,250 $255,000

N/A -100.00% N/A -100.00% $211,000 -17.25%

$284,950 $191,000 $263,750

$270,000 $187,250 $259,000

-5.25% -1.96% -1.80%

60.00% 66.67% 59.26%

205 53 315

275 56 400

34.15% 5.66% 26.98%

$139,950 $71,000 $121,000

$158,500 $54,000 $130,000

$150,000 $69,900 $140,000

$155,000 3.33% $59,700 -14.59% $135,500 -3.21%

EAST HAVEN 1 Family Condo All Sales

2 8 6 3 7

GUILFORD 1 Family Condo All Sales

HAMDEN 1 Family Condo All Sales

MADISON 1 Family Condo All Sales

MERIDEN 1 Family Condo All Sales

-8.79% 47.57% -14.50%

MIDDLEBURY 1 Family Condo All Sales

MILFORD 1 Family Condo All Sales

NAUGATUCK 1 Family Condo All Sales

2 0 3 2 7

32 | THE COMMERCIAL RECORD | JANUARY 2016

13.25% -23.94% 7.44%

Real estate & credit transactions updated every Thursday

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NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

NEW HAVEN 1 Family Condo All Sales

2 8 7 6 6

23 10 70

-17.86% 42.86% 6.06%

244 134 691

288 144 801

18.03% 7.46% 15.92%

$143,500 $60,000 $133,000

$140,000 -2.44% $143,500 139.17% $157,950 18.76%

$173,750 $112,000 $152,000

$160,101 $125,000 $155,500

-7.86% 11.61% 2.30%

16 100.00% 0 -100.00% 24 84.62%

87 17 124

108 29 159

24.14% 70.59% 28.23%

$264,000 N/A $256,000

$248,500 N/A $245,000

-5.87% $260,000 N/A $155,000 -4.30% $253,000

$259,000 $159,800 $240,000

-0.38% 3.10% -5.14%

2 0 2 2 4

25 2 32

25.00% 0.00% 33.33%

195 30 259

225 27 283

15.38% -10.00% 9.27%

$257,500 N/A $257,500

$285,000 10.68% $265,000 N/A N/A $213,250 $288,000 11.84% $262,000

$265,000 $233,300 $263,500

0.00% 9.40% 0.57%

1 6 2 2 0

11 -31.25% 0 -100.00% 13 -35.00%

126 4 157

140 11 175

11.11% 175.00% 11.46%

$344,500 N/A $357,500

$340,000 N/A $340,000

$351,050 2.80% $299,900 -31.03% $356,900 -0.86%

1 2 2 1 6

9 4 17

92 22 161

92 36 172

0.00% 63.64% 6.83%

$305,000 N/A $322,500

$260,000 $401,329 $309,000

-14.75% $306,250 N/A $373,411 -4.19% $330,000

$301,750 $365,495 $345,000

-1.47% -2.12% 4.55%

66 10 100

102 18 151

54.55% 80.00% 51.00%

$199,000 N/A $209,500

$300,000 50.75% $228,300 N/A N/A $336,748 $292,000 39.38% $246,000

$263,500 $333,500 $275,000

15.42% -0.96% 11.79%

NORTH BRANFORD 1 Family Condo All Sales

8 1 1 3

NORTH HAVEN 1 Family Condo All Sales

ORANGE 1 Family Condo All Sales

-1.31% $341,500 N/A $434,848 -4.90% $360,000

OXFORD 1 Family Condo All Sales

-25.00% 100.00% 6.25%

PROSPECT 1 Family Condo All Sales

7 0 1 2

7 2 12

0.00% N/A 0.00%

SEYMOUR 1 Family Condo All Sales

1 1 7 2 5

16 3 27

45.45% -57.14% 8.00%

111 33 184

139 30 210

25.23% -9.09% 14.13%

$180,000 $128,500 $180,000

$189,500 $65,100 $175,000

5.28% -49.34% -2.78%

$215,000 $99,000 $193,000

$216,000 $96,750 $189,500

0.47% -2.27% -1.81%

13 18 35

85.71% -25.00% -2.78%

105 198 333

148 211 404

40.95% 6.57% 21.32%

$330,000 $110,000 $140,000

$350,000 $117,325 $178,000

6.06% 6.66% 27.14%

$332,900 $107,500 $160,000

$350,500 $122,500 $180,950

5.29% 13.95% 13.09%

26 10 41

-3.70% 42.86% -8.89%

283 117 497

320 123 518

13.07% 5.13% 4.23%

$208,900 $159,000 $200,000

$220,501 $170,500 $216,001

5.55% 7.23% 8.00%

$235,000 $167,000 $220,000

$245,500 $165,000 $230,000

4.47% -1.20% 4.55%

64 19 107

113.33% 11.76% 48.61%

452 184 922

563 218 1,078

24.56% 18.48% 16.92%

$104,000 $88,550 $97,375

$93,000 $39,500 $73,500

-10.58% -55.39% -24.52%

$99,450 $61,750 $81,700

$96,000 -3.47% $44,210 -28.40% $75,000 -8.20%

35 4 47

94.44% -55.56% 38.24%

275 57 417

344 80 526

25.09% 40.35% 26.14%

$163,500 $115,000 $160,500

$150,000 $79,580 $150,000

-8.26% -30.80% -6.54%

$165,000 $126,000 $164,900

$153,450 -7.00% $100,000 -20.63% $150,000 -9.04%

17 41.67% 0 -100.00% 19 -5.00%

111 16 150

152 14 185

36.94% -12.50% 23.33%

$203,000 $296,750 $228,500

$190,000 -6.40% N/A -100.00% $190,000 -16.85%

$199,000 $249,000 $199,500

$195,500 $278,700 $199,000

88 0 101

112 0 121

27.27% N/A 19.80%

$400,000 N/A $400,000

$321,250 -19.69% $401,000 N/A N/A N/A $321,250 -19.69% $397,500

$392,500 -2.12% N/A N/A $385,000 -3.14%

15.76% 4,865 -10.71% 1,572 6.93% 8,094

5,780 1,761 9,409

18.81% 12.02% 16.25%

$224,000 $129,000 $199,000

$185,750 $125,000 $172,175

$215,000 $129,500 $185,000

SOUTHBURY 1 Family Condo All Sales

7 2 4 3 6

WALLINGFORD 1 Family Condo All Sales

2 7 7 4 5

WATERBURY 1 Family Condo All Sales

3 0 1 7 7 2

WEST HAVEN 1 Family Condo All Sales

1 8 9 3 4

WOLCOTT 1 Family Condo All Sales

1 2 4 2 0

-1.76% 11.93% -0.25%

WOODBRIDGE 1 Family Condo All Sales

4 0 4

8 0 8

100.00% N/A 100.00%

NEW HAVEN COUNTY 1 Family Condo All Sales

4 25 1 40 7 36

492 125 787

-17.08% -3.10% -13.48%

$222,500 $134,013 $190,000

-3.37% -3.37% -2.63%

JANUARY 2016 | THE COMMERCIAL RECORD | 33

TRENDLINES

NEW LONDON COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

15 0 20

23 0 29

53.33% N/A 45.00%

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

BOZRAH 1 Family Condo All Sales

0 0 0

3 0 3

N/A N/A N/A

N/A N/A N/A

$165,000 N/A $165,000

N/A $200,000 N/A N/A N/A $154,126

$165,000 -17.50% N/A N/A $200,000 29.76%

COLCHESTER 1 Family Condo All Sales

6 1 8

10 1 12

66.67% 0.00% 50.00%

99 18 146

138 21 184

39.39% 16.67% 26.03%

16 2 24

-27.27% -71.43% -36.84%

208 51 320

172 50 296

-17.31% -1.96% -7.50%

0 0 4

N/A N/A 100.00%

9 0 20

15 0 31

2 5 7

6 1 9

200.00% -80.00% 28.57%

49 13 78

53 7 78

8.16% -46.15% 0.00%

2 1 5 3 2

24 4 32

14.29% -20.00% 0.00%

219 65 357

215 77 343

-1.83% 18.46% -3.92%

8 0 1 0

2 0 4

63 0 96

56 0 80

1 3 1 1 7

19 2 23

162 5 198

176 12 210

5 0 7

3 0 4

-40.00% N/A -42.86%

39 0 56

37 0 55

1 0 2

2 0 4

100.00% N/A 100.00%

20 0 34

19 1 33

10 0 13

-33.33% N/A -23.53%

111 14 167

143 7 179

12 2 24

9.09% 0.00% 41.18%

96 27 195

150.00% N/A 166.67%

$170,950 N/A $172,450

$242,950 42.12% $226,500 N/A N/A $144,500 $242,950 40.88% $216,000

$219,950 $155,000 $218,250

-2.89% 7.27% 1.04%

$287,500 $195,500 $242,250

6.21% -4.17% -3.10%

EAST LYME 1 Family Condo All Sales

2 2 7 3 8

$275,800 $229,500 -16.79% $245,000 -100.00% $252,500 $232,500 -7.92%

$270,700 $204,000 $250,000

FRANKLIN 1 Family Condo All Sales

0 0 2

66.67% N/A 55.00%

N/A N/A N/A

N/A N/A $315,000

N/A $155,000 N/A N/A N/A $139,500

$184,500 19.03% N/A N/A $200,000 43.37%

GRISWOLD 1 Family Condo All Sales

N/A $179,000 $179,000

$159,500 N/A $150,000 N/A -100.00% $89,900 $119,000 -33.52% $140,500

$160,000 6.67% $66,500 -26.03% $134,500 -4.27%

$199,000 $154,900 $198,500

$227,500 $140,900 $203,500

$250,000 $128,000 $200,000

-11.11% N/A -16.67%

$212,500 N/A $212,500

N/A -100.00% $210,000 N/A N/A N/A $232,750 9.53% $204,250

$187,500 -10.71% N/A N/A $172,500 -15.54%

8.64% 140.00% 6.06%

$220,000 N/A $220,000

$197,000 -10.45% $219,750 N/A N/A $96,600 $189,900 -13.68% $212,500

$196,500 -10.58% $67,500 -30.12% $192,375 -9.47%

-5.13% N/A -1.79%

$162,400 N/A $162,400

$177,000 8.99% $175,000 N/A N/A N/A $143,500 -11.64% $165,000

$185,000 5.71% N/A N/A $170,000 3.03%

-5.00% N/A -2.94%

N/A N/A N/A

N/A N/A $427,500

$490,000 -21.44% N/A N/A $479,000 33.43%

28.83% -50.00% 7.19%

$130,000 N/A $130,000

$126,500 N/A $120,000

156 27 272

62.50% 0.00% 39.49%

$113,000 N/A $113,000

$140,000 23.89% $160,750 N/A N/A $104,000 $104,000 -7.96% $148,450

$145,000 -9.80% $89,000 -14.42% $138,750 -6.53%

34 0 55

71 0 97

108.82% N/A 76.36%

N/A N/A $178,000

$229,999 N/A $216,000 N/A N/A N/A $232,500 30.62% $200,000

$219,000 1.39% N/A N/A $216,000 8.00%

142 46 248

187 37 309

31.69% -19.57% 24.60%

$115,000 $47,000 $114,250

$128,000 $72,500 $99,500

$108,000 -16.25% $90,000 -19.82% $98,000 -14.11%

GROTON 1 Family Condo All Sales

14.32% -9.04% 2.52%

$225,000 $118,000 $175,000

11.11% 8.47% 14.29%

LEBANON 1 Family Condo All Sales

-75.00% N/A -60.00%

LEDYARD 1 Family Condo All Sales

46.15% 100.00% 35.29%

LISBON 1 Family Condo All Sales

LYME 1 Family Condo All Sales

N/A $623,750 N/A N/A N/A $359,000

MONTVILLE 1 Family Condo All Sales

1 5 0 1 7

-2.69% $164,900 N/A $45,500 -7.69% $145,000

$169,000 $48,000 $163,000

2.49% 5.49% 12.41%

NEW LONDON 1 Family Condo All Sales

1 1 2 1 7

NORTH STONINGTON 1 Family Condo All Sales

2 0 3

5 0 8

9 3 1 6

11 7 28

NORWICH 1 Family Condo All Sales

22.22% 133.33% 75.00%

34 | THE COMMERCIAL RECORD | JANUARY 2016

11.30% 54.26% -12.91%

$128,950 $112,250 $114,100

Real estate & credit transactions updated every Thursday

www.commercialrecord.com • subscribers only

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

$321,500

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

OLD LYME 1 Family

7

8

Condo

0

1

1 0

11

1 Family

2

4

Condo

0

1

4

6

1 Family

3

1

Condo

0

0

6

1

1 Family

0

3

Condo

0

0

0

3

All Sales

14.29%

115

83

-27.83%

3

4

33.33%

10.00%

147

114

-22.45%

100.00%

36

65

80.56%

N/A

3

1

-66.67%

N/A

50.00%

60

87

45.00%

$179,950

-66.67%

28

36

28.57%

$293,000

3

2

-33.33%

41

50

21.95%

N/A

19

22

15.79%

N/A

0

0

N/A

29

29

0.00%

134

172

28.36%

17

27

58.82%

N/A

N/A $306,250

$495,000 N/A $440,000

53.97%

$329,000

$400,000

N/A $245,000

$392,500

60.20%

$374,750

22.87%

43.67%

$305,000

21.58%

PRESTON

All Sales

N/A

$245,500 N/A $133,122

N/A $210,000 N/A

$72,500

$183,000 -12.86% N/A -100.00%

-26.02%

$177,500

$180,000

1.41%

N/A -100.00%

$261,750

$251,450

-3.94%

SALEM

All Sales

N/A -83.33%

N/A $255,000

N/A

N/A

N/A -100.00%

$40,000

N/A -100.00%

$250,000

$235,000

-6.00%

N/A $161,987

$200,250

23.62%

SPRAGUE

All Sales

N/A

N/A N/A N/A

$64,900 N/A $64,900

N/A

N/A

N/A $128,000

N/A $200,000

N/A 56.25%

STONINGTON 1 Family

1 7

16

Condo

0

4

2 4

26

8.33%

218

247

13.30%

$310,000

-66.67%

36

26

-27.78%

$209,500

0

0

-33.33%

40

30

All Sales

-5.88% N/A

$329,000 N/A

$291,250 $222,500 $257,500

-11.47%

$298,000

$307,750

3.27%

N/A $315,000

$397,500

26.19% 12.29%

-16.94%

$258,250

$290,000

N/A -100.00%

$213,250

$180,000 -15.59%

VOLUNTOWN 1 Family

6

2

Condo

0

0

6

4

All Sales

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

-25.00%

$209,500

$187,100

-10.69%

$209,500

$180,000 -14.08%

WATERFORD 1 Family

2 0

20

0.00%

229

239

4.37%

$236,500

$208,750

-11.73%

$229,900

$220,400

Condo

5

7

40.00%

28

47

67.86%

$139,000

$155,000

11.51%

$137,000

$139,500

1.82%

2 7

29

7.41%

292

318

8.90%

$208,000

$185,000

-11.06%

$212,500

$206,500

-2.82%

4.12% 1,863

-5.20%

All Sales

-4.13%

NEW LONDON COUNTY 1 Family

1 70

177

Condo

2 9

32

2 53

272

All Sales

2,104

12.94%

$217,450

$207,000

-4.81%

$219,400

$208,000

293

320

9.22%

$159,900

$109,000

-31.83%

$132,000

$139,950

6.02%

7.51% 2,817

3,071

9.02%

$205,000

$183,276

-10.60%

$191,500

$190,000

-0.78%

10.34%

LOOKING FOR MORE? Our online real estate records offer a much deeper look into your markets and neighborhoods. Every Thursday, CommercialRecord.com is updated with the most recent sales, foreclosure, mortgage and credit information available from The Warren Group. Our weekly digital records are offered in a convenient, searchable PDF format, and are archived to 2001. Each PDF is organized by county, town and street to make it easy to find exactly the data you need to make informed business decisions. As a bonus, all subscribers to The Commercial Record get access to similar weekly data from Rhode Island. Simply visit www.commercialrecord.com, log in, click on the big, red “Records & Research” button in the upper left corner, and get busy putting The Commercial Record to work for you.

JANUARY 2016 | THE COMMERCIAL RECORD | 35

TRENDLINES

TOLLAND COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 YTD

MEDIAN PRICE %CHG 14-15

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

ANDOVER 1 Family Condo All Sales

2 0 2

2 0 2

0.00% N/A 0.00%

18 0 26

31 0 40

72.22% N/A 53.85%

N/A N/A N/A

N/A N/A N/A

N/A $211,350 N/A N/A N/A $189,000

$220,000 4.09% N/A N/A $194,450 2.88%

7 0 7

5 0 6

-28.57% N/A -14.29%

53 0 62

45 0 57

-15.09% N/A -8.06%

$238,000 N/A $238,000

$231,000 N/A $253,000

-2.94% $232,000 N/A N/A 6.30% $229,000

$236,000 1.72% N/A N/A $210,000 -8.30%

3 0 5

-57.14% N/A -37.50%

59 0 72

74 0 93

25.42% N/A 29.17%

$235,000 N/A $240,000

$172,000 -26.81% $247,000 N/A N/A N/A $148,000 -38.33% $246,000

$222,750 -9.82% N/A N/A $216,500 -11.99%

9 0 14

0.00% N/A 40.00%

138 5 182

136 8 185

-1.45% 60.00% 1.65%

$158,500 N/A $167,750

$295,000 86.12% $196,250 N/A N/A $115,900 $290,000 72.88% $176,000

$209,500 $114,800 $207,000

81 20 140

114 22 179

40.74% 10.00% 27.86%

$241,000 N/A $350,000

$192,000 -20.33% $280,000 N/A N/A $164,250 $194,000 -44.57% $260,000

$243,000 -13.21% $122,000 -25.72% $235,000 -9.62% $269,900 5.33% N/A - 100.00% $257,500 5.10%

BOLTON 1 Family Condo All Sales

COLUMBIA 1 Family Condo All Sales

7 0 8

COVENTRY 1 Family Condo All Sales

9 0 1 0

6.75% -0.95% 17.61%

ELLINGTON 1 Family Condo All Sales

5 1 1 1

10 1 15

100.00% 0.00% 36.36%

7 0 1 0

8 2 12

14.29% N/A 20.00%

62 6 87

97 2 122

56.45% -66.67% 40.23%

$270,000 N/A $285,000

$262,500 N/A $262,500

9 0 1 4

7 2 13

-22.22% N/A -7.14%

96 26 176

97 28 151

1.04% 7.69% -14.20%

$225,000 N/A $155,000

$214,000 -4.89% $233,500 N/A N/A $171,250 $229,000 47.74% $180,000

$220,000 $186,750 $205,000

3 0 4

5 1 8

66.67% N/A 100.00%

76 4 99

82 3 114

7.89% -25.00% 15.15%

$435,000 N/A $441,750

$225,000 -48.28% $263,750 N/A N/A $385,100 $285,000 -35.48% $260,000

$261,000 -1.04% $345,000 -10.41% $263,000 1.15%

1 0 1 1 6

12 1 16

20.00% 0.00% 0.00%

98 18 147

106 14 150

8.16% -22.22% 2.04%

$195,500 N/A $132,500

$202,750 N/A $129,950

3.71% $164,200 N/A $98,500 -1.92% $148,200

$179,700 $91,000 $157,250

9.44% -7.61% 6.11%

1 0 0 1 1

11 0 11

10.00% N/A 0.00%

149 3 178

136 9 163

-8.72% 200.00% -8.43%

$230,000 N/A $240,000

$222,500 N/A $222,500

-3.26% $250,000 N/A $147,000 -7.29% $243,930

$268,000 $137,000 $254,000

7.20% -6.80% 4.13%

0 0 0

0 0 0

N/A N/A N/A

6 0 9

7 0 11

N/A N/A N/A

N/A N/A N/A

1 1 5 2 2

19 6 32

72.73% 20.00% 45.45%

199 80 337

232 84 372

16.58% 5.00% 10.39%

3 0 3

200.00% N/A 200.00%

38 5 53

50 3 60

31.58% -40.00% 13.21%

16.05% 1,073 85.71% 167 18.10% 1,568

1,207 173 1,697

12.49% 3.59% 8.23%

HEBRON 1 Family Condo All Sales

-2.78% $256,250 N/A $252,250 -7.89% $245,000

MANSFIELD 1 Family Condo All Sales

-5.78% 9.05% 13.89%

SOMERS 1 Family Condo All Sales

STAFFORD 1 Family Condo All Sales

TOLLAND 1 Family Condo All Sales

UNION 1 Family Condo All Sales

16.67% N/A 22.22%

N/A $209,000 N/A N/A N/A $189,900

$144,000 -31.10% N/A N/A $144,000 -24.17%

VERNON 1 Family Condo All Sales

$163,000 $188,000 $158,000

$199,900 $179,000 $186,250

22.64% -4.79% 17.88%

$182,000 $147,750 $174,000

$180,000 -1.10% $118,000 -20.14% $164,450 -5.49%

N/A $207,375 N/A $130,000 N/A $205,000

$206,950 -0.20% $107,000 -17.69% $199,950 -2.46%

WILLINGTON 1 Family Condo All Sales

1 0 1

N/A N/A N/A

$286,000 N/A $286,000

TOLLAND COUNTY 1 Family Condo All Sales

8 1 7 1 16

94 13 137

36 | THE COMMERCIAL RECORD | JANUARY 2016

$220,000 $188,000 $209,350

$218,013 $200,100 $207,500

-0.90% 6.44% -0.88%

$220,000 $141,000 $205,000

$219,900 -0.05% $119,000 -15.60% $204,900 -0.05%

TRENDLINES

WINDHAM COUNTY SALES REPORT

NUMBER OF SALES NOV 2014

NOV %CHG 2014 2015 14-15 YTD

MEDIAN PRICE

2015 YTD

%CHG 14-15

34 0 41

27 1 37

-20.59% N/A -9.76%

77 4 122

110 6 146

NOV 2014

NOV %CHG 2014 2015 14-15 YTD

2015 %CHG YTD 14-15

ASHFORD 1 Family Condo All Sales

2 0 2

0 -100.00% 1 N/A 1 -50.00%

N/A N/A N/A

N/A N/A N/A

N/A $161,500 N/A N/A N/A $160,000

42.86% 50.00% 19.67%

$178,000 N/A $232,500

$169,450 N/A $222,000

$189,900 N/A $162,000 N/A N/A N/A $189,900 -20.84% $162,000

$167,000 3.41% N/A N/A $165,000 3.13%

BROOKLYN 1 Family Condo All Sales

6 1 1 0

10 2 15

66.67% 100.00% 50.00%

-4.80% $197,000 N/A $222,500 -4.52% $180,000

$180,000 $228,500 $177,250

-8.63% 2.70% -1.53%

CANTERBURY 1 Family Condo All Sales

1 0 3

7 0 7

600.00% N/A 133.33%

31 0 46

49 0 63

58.06% N/A 36.96%

N/A N/A $239,900

$185,000 14.20% N/A N/A $179,400 10.74%

1 0 2

0 -100.00% 0 N/A 2 0.00%

10 0 16

22 1 29

120.00% N/A 81.25%

N/A N/A N/A

N/A N/A N/A

N/A $152,000 N/A N/A N/A $90,000

$152,500 0.33% N/A N/A $145,000 61.11%

0 -100.00% 0 N/A 0 -100.00%

12 0 20

11 0 23

-8.33% N/A 15.00%

N/A N/A N/A

N/A N/A N/A

N/A $152,450 N/A N/A N/A $133,700

$195,000 27.91% N/A N/A $196,600 47.05%

3 0 4

0.00% N/A 33.33%

13 0 17

12 0 23

-7.69% N/A 35.29%

$234,000 N/A $234,000

$244,900 N/A $226,200

4.66% $190,000 N/A N/A -3.33% $185,000

$208,750 9.87% N/A N/A $165,000 -10.81%

17 3 22

142.86% N/A 57.14%

148 15 232

132 19 206

-10.81% 26.67% -11.21%

$204,500 N/A $134,950

$175,000 $115,000 $166,500

1 3 0 2 0

10 0 13

-23.08% N/A -35.00%

134 5 208

120 3 177

-10.45% -40.00% -14.90%

$130,000 N/A $122,750

$127,500 N/A $135,000

1 0 4

3 0 5

200.00% N/A 25.00%

21 1 47

30 0 60

42.86% -100.00% 27.66%

N/A N/A $221,108

$257,000 N/A $252,500 N/A N/A N/A $257,000 16.23% $175,000

$292,500 15.84% N/A N/A $198,250 13.29%

5 3 1 1

8 60.00% 0 -100.00% 9 -18.18%

61 26 122

67 18 117

9.84% -30.77% -4.10%

$184,000 $172,000 $180,000

$128,500 -30.16% N/A -100.00% $127,000 -29.44%

$150,000 $163,750 $147,500

CHAPLIN 1 Family Condo All Sales

EASTFORD 1 Family Condo All Sales

1 0 1

HAMPTON 1 Family Condo All Sales

3 0 3

KILLINGLY 1 Family Condo All Sales

7 0 1 4

-14.43% $152,000 N/A $133,500 23.38% $137,750

$159,500 4.93% $112,500 -15.73% $139,450 1.23%

PLAINFIELD 1 Family Condo All Sales

-1.92% $149,700 N/A $82,500 9.98% $145,000

$135,450 $74,700 $135,000

-9.52% -9.45% -6.90%

POMFRET 1 Family Condo All Sales

PUTNAM 1 Family Condo All Sales

$150,000 $176,450 $155,750

0.00% -7.20% -5.30%

SCOTLAND 1 Family Condo All Sales

0 0 1

2 0 2

N/A N/A 100.00%

15 0 19

20 0 29

33.33% N/A 52.63%

N/A N/A N/A

N/A N/A N/A

N/A $188,000 N/A N/A N/A $146,000

$155,500 -17.29% N/A N/A $155,000 6.16%

2 0 2

0.00% N/A -66.67%

25 2 44

47 3 67

88.00% 50.00% 52.27%

N/A N/A $237,450

N/A N/A $157,000 N/A N/A N/A N/A -100.00% $142,000

$173,500 $70,000 $162,700

10.51% N/A 14.58%

2 0 3

-75.00% N/A -66.67%

92 2 131

89 3 123

-3.26% 50.00% -6.11%

$182,000 N/A $150,000

N/A -100.00% $161,500 N/A N/A N/A $93,000 -38.00% $150,000

$197,000 $130,000 $179,900

21.98% N/A 19.93%

13 18.18% 0 -100.00% 14 -33.33%

106 4 191

118 5 179

11.32% 25.00% -6.28%

$126,000 N/A $87,000

$115,000 -8.73% $136,450 N/A N/A $109,000 $105,000 20.69% $117,000

$117,500 -13.89% $119,000 9.17% $115,000 -1.71%

9 1 10

79 11 122

99 9 141

25.32% -18.18% 15.57%

$207,500 N/A $191,500

$175,000 -15.66% $207,500 N/A N/A $86,400 $155,000 -19.06% $183,548

$229,500 $140,000 $210,000

10.60% 62.04% 14.41%

26.47% 858 0.00% 70 -7.63% 1,378

953 68 1,420

11.07% -2.86% 3.05%

$160,750 $142,000 $150,000

$154,950 $115,000 $152,500

$166,500 $134,775 $154,700

4.06% -0.17% 4.53%

STERLING 1 Family Condo All Sales

2 0 6

THOMPSON 1 Family Condo All Sales

8 0 9

WINDHAM 1 Family Condo All Sales

1 1 1 2 1

WOODSTOCK 1 Family Condo All Sales

7 2 1 1

28.57% -50.00% -9.09%

WINDHAM COUNTY 1 Family Condo All Sales

6 8 7 1 18

86 7 109

-3.61% -19.01% 1.67%

$160,000 $135,000 $148,000

JANUARY 2016 | THE COMMERCIAL RECORD | 37

GOSSIP REPORT

DARIEN ADDRESS 77 Five Mile River Road, Darien

1

PRICE: $6,995,000 SIZE: 6,046 square feet on 1.18 acres BUYER: 77-5MRR LLC SELLER: Campbellton LLC SOLD: 11/18/2015

GREENWICH

2

ADDRESS: 27 Baldwin Farms South, Greenwich PRICE: $6,200,000 SIZE: 27 York LLC BUYER: Iron Ore Hill LLC SELLER: 27 Baldwin Farms S LLC AGENT: David Ogilvy and Assoc.

SOLD: 12/2/2015

NEW CANAAN

3

ADDRESS: 222 West Hills Road, New Canaan PRICE: $5,067,250 SIZE: 2,842 square feet 2.13 acres BUYER: Amy Silberfein and Andrew Silberfein

2 5

3

SELLER: SIL WEL 7 LLC SOLD: 11/24/2015

WESTPORT

4

4

ADDRESS: 49 Beachside Ave., Westport PRICE: $4,312,500

1

SIZE: 5,744 square feet on 2.15 acres BUYER: 49 Beachside Acq LLC SELLER: Alan E. Levi and Renee A. Levi AGENT: Richard Higgins, The Higgins Group SOLD: 12/16/2015

Built in 2005, the Georgian colonial in the No. 2 spot this week has 11,000 square feet of living space, eight bedrooms, eight full (and two half) bathrooms, six fireplaces, a three-car garage and a heated, community swimming pool, not to mention an exercise room, an eight-seat media room, a lovely view of a lake and a walk-in wine cellar. That’s in addition to the eat-in kitchen

38 | THE COMMERCIAL RECORD | JANUARY 2016

GREENWICH ADDRESS: 6 Lockwood Drive, Greenwich PRICE: $3,697,000 SIZE: 6,500 square feet on 0.44 acres BUYER: Amy Fallon and David Hirsch SELLER: Elk Homes Partners SOLD: 11/13/2015

5

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JANUARY 2016 | THE COMMERCIAL RECORD | 39

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