Danbury CT Real Estate Looking Positive
October 18, 2010 by admin
Filed under Connecticut
- Image by The Library of Congress via Flickr
In western Connecticut, Danbury developer and real estate professional Mark Nolan, of Nolan Enterprises Inc., said there has been an evolving market adjustment in housing prices that reflects the current economy.
Although there are still towns in the area where houses are priced beyond the reach of most young families, Nolan said he sees more and more sellers dropping prices so they can find buyers able to take advantage of lower mortgage rates.
Nolan said one couple he started working with a year ago was interested in a house that was originally priced at $450,000. With no takers, the house price dropped to $399,000 and then again to $365,000.
At that price, Nolan said, his clients were able to afford it and the seller still made a profit.
“There’s always going to be a demand for housing,” said Nolan, who has built rental and single-family housing developments for multiple income levels throughout the area.
Nolan is also chairman of the Danbury Housing Partnership, a public/private partnership whose aim is to provide housing to elderly, low-income, disabled and workforce families. http://www.newstimes.com/default/article/Housing-market-slowly-rebounding-in-Greater-711937.php
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