Eileen Brooks Named Newtown Realtor Of The Year

By Nancy K. Crevier

The Newtown Board of Realtors named Eileen Brooks as Realtor of the Year at a luncheon and ceremony held Thursday, June 21, at Rock Ridge Country Club. Ms Brooks is a realtor with Century 21 Home Services and is president of the Newtown Board of Realtors.

Ms Brooks, who lives in Sandy Hook with her husband, Kevin, and three children, Will, Chuck, and Kelly, has been a realtor for eight years.

“Being elected to Realtor of the Year is truly an honor,” said Ms Brooks. “I sat on the [Realtor of the Year selection] committee six or seven years ago and so I’m thrilled that it is me this year.”

Ms Brooks said that she is expecting sales to continue on at a strong pace this year. While the inventory for single family homes in Newtown is at an all-time high — 353 compared to 295 units at this time last year — and the average length of time on the market has increased by 20 days in 2007, buyers and sellers should not view this negatively.

“The volume of lower-priced homes sold in Newtown is higher this year than last year at this time,” said Ms Brooks. “The median sales price, that is the price when you take every home sold in Newtown and come to the house price that is right in the middle, not the average price, was $587,000 in 2006 and $450,000 in 2007. This means that more homes were sold in the lower price range,” she explained. “The number of units sold in 2007 is up. In June of 2006 we sold 55 units, in July, 33, and in August of last year we sold 44 units. If we stay on track, we should close on another 132 homes by the end of summer of 2007. So, sales are actually increasing in the median sales price range,” Ms Brooks said.

According to the National Association of Realtors said Ms Brooks, the national median existing home price will probably fall 1.3 percent this year and then grow by 1.7 percent in 2008. “Mortgage rates are still very good,” she pointed out. “Rates are not astronomical and may come down again before the end of the year. The National Association of Realtors is predicting fixed rate mortgages to go to 6.6 percent and hover at that level through 2008.”

In order to keep the Newtown real estate market competitive, Ms Brooks believes it is imperative to fund the local schools. “Historically, that has been the answer to having a strong real estate market,” Ms Brooks said. “One of the first questions asked of a realtor is about our schools. It’s the driving force behind home sales,” she commented.

Overall, Ms Brooks looks toward a continually improving real estate market. “I think that the number of homes sold to date should encourage people,” she said. “I’m honored to be in the good company of past recipients of this award and I am looking forward to continuing to work for buyers and sellers in our area.”