Veteran Real Estate Broker Buys Re/Max East of the River Office

A veteran north central Connecticut real estate broker has purchased the Vernon office of Re/Max East of the River.

Earl Melendy purchased the business from longtime owners Barbara and Stan Weinberg on Feb. 28 for an undisclosed price. The Weinbergs, longtime fixtures in the real estate industry, will continue to run their other five offices.

The Vernon office is on Route 30 near the Tolland line. The local address is 44 Hyde Ave.

Melendy, 43, has been a broker for 19 years. He will rename the office Re/Max Destination.

''It's a nice challenge for me,''  Melendy says. ''It's one of those things where you think you can do a little better than the previous person so you give it a shot. I'm excited.''

The office has nine licensed agents and Melendy says it serviced more than 200 transactions last year.

On paper, it seems like a funny time to purchase a real estate business. Connecticut does not have the burst bubble like Nevada, Arizona and Florida, but many agents consider the climate a serious buyer's market and prices are generally down from those of two years ago.

"I think it's a perfect time to buy a real estate office,'' Melendy says. ''The market is at a low point, but if you purchase now, there is no place to  go but up. Connecticut's real estate market has been built on owner-occupied homes and hardworking people. It's a good market to work in.''