Tag Archives: condo buyer tips

Why You Don’t See For Sale Signs in Condo Communities

Often, I get calls from people saying they went into ‘xyz community’ located here, and they want to know more information about it & wonder what it is for sale. To there surprise, there are several units for sale in some of the luxury townhome communities in Danbury, such as Woodland Hills, Kensington Woods and Arlington Woods.

 

All condo & townhouse communities have restrictions written in to the homeowner’s association rules saying what they can and can’t do with the exterior. One of those things is about ‘for sale’ signs. Almost all of the townhome and condo communities do not allow them because they don’t want those units to stand out from the others. Also, they don’t want people driving around in the communities without a reason to be there (visiting friends or looking at property with an agent).

 

See condos for sale!

 

However, if you do decide to drive in to a complex and want more information on what is for sale or to arrange showings to units for sale, please send me an email.

Advertisements

Shepherd Hill,Danbury CT

Located in the north eastern side of Danbury in the Stadley Rough neighborhood, Shepard Hill is a 140 unit condo development in a convenient location. With easy access to major shopping on Federal Road and business as well as access to I-84 and Route 7 both north and south, Shepard Hill has one of the most desired locations in the Danbury area. The buildings in the complex has had a new roof put in within the last couple of years. There is also ample resident and guest parking. Community recreational amenities include a playground and pool. In addition, there is easy access to public transportation down the road on Federal Road. There is currently a 78% owner occupancy ration in the community, which banks look favorably on when determining financing.

Shepherd Hill enterance

Built in 1984, the units offer modern open floor plans ranging from 1 bedroom ranch style units to 2 bedroom 1.5 bath townhouse style units with a basement garage. The complex and units were designed so many of the residents can take advantage of long range views.  Standard amenities for homes in Shepherd Hill include central air conditioning as well as washer and dryer set up in the unit.

There are currently for 4 units for sale in Shepherd Hill ranging from $186,999 for a 1 bedroom ranch style unit to a 2 bedroom 1.5 bath townhouse style unit with 2 car garage in the basement offered at $287,500 (per CMLS 4/1/08) with the average list price of $244,825 with the average market time being 61 days.

In 2007, there were 12 sales in Shepherd Hill (per CMLS) with the average list to sale percentage of 96.7%. Sales in Shepherd Hill ranged from $175,000 for a 1 bedroom 1 bath ranch style unit to $284,500 for a 2 bedroom 1.5 bath townhouse style unit with a 2 car garage located in the basement. Sales for the 2 bedroom 1 bath ranch style units ranged from $220,000 to $228,000. The average sales time (from listed to close) in Shephard Hill was only 71 days, compared to the rest of the Danbury condo market in 2007 were it was 97 days.

If you are thinking about selling your unit in Shepherd Hill or would like to get a tour of the complex or for me to send to the current homes for sale in Shepherd Hill, please call me at 203-417-0523 or send me an email.

Search for condos for sale in Shepherd Hill!

Shepherd Hill PoolShepherd Hill CondosShepherd Hill

Condo buying tips

Following up to the market stats on condos in Danbury ,there are several things to consider when looking to purchase a condo or townhouse in the Danbury area. On top of the things buyers should be looking at for a single family home (like layout and mechincal systems), there are things that are unique to note when looking for a condo:

  • Is the community located in a neighborhood that you would feel comfortable living in? Is it near the places you need or like to go to a lot (work, shopping)
  • Would you feel comfortable in the condo or townhome community?
  • Is the indivdual unit is a location in the community that you like?
  • Has the condo fees gone up considerbly over the last few years?
  • Are there any special assessments on the complex?
  • Is the owner occupancy ratio good?
  • Often times, the community offers some recreational facilties to it’s residents like pools which the expenses for their maitance are included in the monthly homeowners association.
  • Generally, the property taxes on condos are lower than the equilivently sized single family homes since you don’t own any land. Often with newer condos, the property taxes are higher than older units.
  • How is the parking situation for owners and their guests?
  • Carefully review the condo documents. They tell you about the community is run. The laws include things like the budget, construction information, rules on pets, the board of directions, condo fees, surveys and much more information.Condo docs typically include budgets, surveys, information on construction, rules about pets, rules about resale, the condo board of directors, condo fees, and much more. In CT, buyers have 2 weeks review and agree to the terms of the condominium documents before the date they are able to back out of the contract, also known as the cancellation period . If  the buyer is not satisfied with these guidelines, they can back out of the deal with no penalty.
  • Condo fees can really increase the cost of ownership, however there is an upside to them. Be sure to review the budget and make sure it makes sense to you. Remember, if it sounds too good to be true, it probably is.Make sure the some of the funds from the condo fees go toward reserves. The reserve money goes to cover things like repairs like roofs, new siding or exterior paint or plumbing become necessary. The upside is that many condominium communities have private amenities such as fitness centers, pools, tennis courts, that will typically be more expensive elsewhere.
  • Usually condo owners only need a contents insurance policy, which isn’t that expensive. The HOA usually has a policy on the building or buildings againist major distaters and law suits with is paid for with some of the condo fees.Also, condo owners typically only have a contents insurance policy which often doesn’t cost more than renters insurance. Keep in mind that if the cost of insurance goes up, so will your condo fees.
  • Make sure to have a home inspection! No matter how new or attractive a condo might appeal, there is usually something wrong with it because there is no such thing as a perfect house. If something comes up, buyers can negoiate for the repair to be done or be given a credit for the work, or completly back out of the purchase completly.First, if there is a problem, that’s grounds for more negotiation, or canceling a purchase completely. Some buyers think they will be saving money by not having an inspection but within a month or so of moving in, they might find they need a new furnance or water heater.A home inspector should give an idea if the unit things like foundation problems, leaks in the roof, mold, and a lot more!Condo’s can have foundation problems, leaks in the roof, mold, anything!

Search for condos & townhomes in Greater Danbury!