West Hartford Hopes to Attract a Hotel

In West Hartford’s well developed downtown, one open space stands out… But it may not for long. The town is taking proposals from hotel developers that want to build on the land which is owned my the town.

West Hartford is looking for a full -service hotel with about 120 rooms. Though the town already has the west hartford inn which is very close to the center, Rob Rowlson who is the community development director says a modern hotel in the center is needed.

Extended Content: Full Interview with West Hartford Realtor Michael Antisdale

This is the full, uncut interview with West Hartford Realtor Michael Antisdale from our story on July 13, 2009. Antisdale talks about the current status of the real estate market locally and offers tips for sellers looking to sell a home in this tough economy.

West Hartford’s Median Home Price Increased Over Last Year

Extended content is available for this story. Click here to see the full, uncut video with West Hartford Realtor Michael Antisdale

Lately it seems like all real estate news is bad news. For West Hartford home owners, reports may not be as dismal as they appear.

According to a report by The Warren Group, West Hartford’s median home price beat the odds and increased over last year. The increase is only 2% or so, but compared to the towns near West Hartford any increase is welcome. While this news is exciting, real estate agents also say lower numbers of transactions remain a problem. Volume isn’t what is used to be.

Note: Avon’s median home price also increased. That town saw an increase of nearly 20%. To learn more about why this has happened, watch the full interview with Michael Antisdale here.

Links:
Warren Group Press Release on Sliding Connecticut Home Sales
Median Home Sales Increases/Decreases in the Area (PDF)
All Connecticut Towns Median Sales (PDF)

Lack of Financing Slowing Commercial Property Sales

West Hartford commercial real estate sales are slowing due to lack of available financing for many business owners looking to purchase. In this real estate market, the ability to sell a building is not just about price and location – it’s also about the financial terms of the deal.

Some commercial property owners have decided to become their own ‘banks.’ Instead of taking a one lump sum payoff at closing they have the buyer pay a monthly mortgage note plus interest. This way a buyer doesn’t need perfect credit to close a deal.