Fairfield and Westport CT Real Estate Guide

Local insights on buying, selling, and living in Fairfield County


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Family Finds New Home in Old Hill

The journey was long for Eric, Roberta and their young son and a new puppy.  Of course, it would be a big lifestyle change from an apartment in Manhattan to a house in the suburbs. First of all, when you could routinely have any nationality of cuisine delivered to your doorstep within 20 minutes, anything less seemed quite inconvenient.  Add to this the perspective of coming from a classic doorman building on the Upper West Side near parks and subways with magnificent pre-war details and 11-foot ceilings, and you were starting with high expectations… as you should!  There was no pressure to move, but it was time for a new experience, a home to spread out in with a yard, an active town, and excellent public schools.

Roberta was drawn to the open space and pastoral scenery in upper Westchester County, New York.  Eric wanted a town with direct train service to Grand Central to make the commute to his Park Avenue office as painless as possible.  The family began their search in Westchester, but after evaluating the homes, amenities and property taxes there decided that Fairfield County Connecticut would be a better fit.

So they set their focus on Westport and rented a summer house there to get to know the town.   Their wish list included a neighborhood with a country feeling and a location on a quiet street, but not too far from the train.  The home needed to be something special- an older house with charm and good bones, or maybe a new construction with timeless style.  There needed to be at least an acre of property with bucolic surroundings.  The ceilings had to be high, and the flow had to be practical as well as aesthetically pleasing.  The architecture had to be true to its form and consistent throughout. High-quality details such as wide plank wood floors and large windows for ample natural light and pretty views were key. A front porch was a plus, and so was a pool.  Last but not least,  the chemistry had to be there.

So we looked.   And we looked.   Over time, we found that the Greens Farms and Old Hill neighborhoods had the location and feeling that Eric and Roberta were looking for.  We saw many, many homes that had many great features. But finding the perfect blend was not easy- as a typical suburban home would not do.   See what Eric, as well as other clients, thought about the process.

Eric & Roberta in Westport

Finally, after two an a half years, the winning home was found!  It was gorgeous.  It was custom built and designed by talented architect, John Fifield.  It had the special combination of flow, uniqueness, proportions,  elegance and setting.   It had a romantic wrap around porch and a pool.   It had the chemistry!

And that’s how the story begins.   A family’s quest leads to their new castle in Old Hill.

…a few months later, all is well!

Photo Jan 07, 11 41 26 PM


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My Home is My Castle.

What is a castle?  In its most basic form, it’s a place that gives us security and privacy.

Home Sweet Home.  It’s the place we cherish, where we feel safe and sound, sometimes happy, other times sad; where we celebrate, gather together, share, work, create, cook, decorate; where we can love and be loved; where we live, grow, rest, dream, and at times sort through the chaos that life often throws at us!  After all, there’s no place like home !

Em 1st day 1st grade 8-30-07Home is a most important place and a most significant asset.   This is why I love to join my clients in the chapter of their lives when it’s time for their next castle.   It is a critical business transaction and a complex process, but most important, it’s an emotional, exciting and monumental time!  I am honored to share this time with my clients, buffer the anxiety,  guide the course and share the joy!

2012 Thanksgiving Dad Kids & CakeOur castles assume all shapes and sizes.   And in the grandest form, a castle is…. well big and grand! Enjoy this one in Darien, Connecticut.

Please share  a comment or image of a precious moment, space or place showing the essence of home for you!  I’ve posted a few of my own.

2011 The Black & White Crew

 

2011-05-31 09.28.10To see more about how I serve my clients, visit my websites at LindaRaymondRealEstate.com and Raveis.com/LindaRaymond .  Please send me a note below if I can assist you with the home of your dreams.

Sincerely,
Linda

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Question: Which June Housing Market was Better, 2013 or 2014?

What’s the answer?

2014_05_05_0213

Featured property for sale in Fairfield, CT: $379,000. Click image for more info!

Let’s see how the towns did in June this year as we were having fun in the sun…

It helps to look at the rate that homes are selling, known as the “absorption rate”.  It’s calculated by dividing the sales per month by the number of homes on the market at the end of that month.   The higher the percentage, the faster homes are selling and the stronger the market.

At the end of June in Fairfield, there were 90 sales with 622 homes on the market.  So 90/622 is an absorption rate of 14%.  Last June, there were 79 sales with 556 homes for sale equating to the same absorption rate of 14% indicating little change in the pace of the market in Fairfield.

In Westport however, 39 homes sold with 405 on the market and an absorption rate of 39/405 = 10%.  Last June there were 49 sales and 346 active listings, or a rate of (49/346) 14%, showing a weaker market so far this summer.

In Weston 19 homes sold in June with 191 for sale, and a ratio of 19/191, or 10%. Last June, Weston saw 29 sales and 183 homes for sale, an absorption rate of 29/183 =16%.  So the Weston market has slowed as well.

An absorption rate below 15% is considered to be a good market for buyers with greater months of supply and slower sales, whereas a rate above 20% is typically a faster-selling market favoring sellers.

Take a look at the town numbers for June 2013 versus 2014 here: 2014 June Real Estate Fairfield, Westport, Weston

The second half of 2014 is expected to be stronger than the first half according to researchers at Redfin brokerage as reported by RealtorMag.   Click here for the article and to find out why, and let’s get ready for the pace to pick up as we enjoy the breezes of the remaining summer!

Featured home for sale in Fairfield, CT $1,395,000. Click image for more info!

Featured home for sale in Fairfield, CT $1,395,000. Click image for more info!

 

 

 

 

 

 

 

For more answers…or more questions, feel free to submit a request below.

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Open House this Sunday July 20th,1-3pm ~ Come to the Beach!

Deep beach, double jetties, high sand dunes,
view of Penfield Lighthouse, mature trees, multi-million dollar neighbors!

Come to 845 Fairfield Beach Road this Sunday July 20, 1-3pm,
enjoy a little sunshine, some great tunes,
and see for yourself!

Rare beachfront property with summer cottage. $1,395,000

Rare beachfront property with summer cottage. $1,395,000

 

Feel free to contact me for more information
or to request a private showing in the meantime.

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New Listing- New Price- New Neighbor! Westport, Fairfield Housing Update

Ever wonder about the market chain of events prior to your new neighbors moving in?  Well here’s a quick view of the current flow in Westport and Fairfield.

Twenty-six Westport home owners just put their houses on the market within the past 14 days. Three hundred and thirty three (333) homes are for sale in total. Of these homes, 28 have been on the market for awhile but have a brand new price. Eighty-five (85) properties have an accepted offer or are under contract for sale and will result in new neighbors very soon!

In Fairfield, there are 51 new listings and 501 total homes for sale. Sixty-eight (68) listings have been on for awhile but have new prices. There will be 157 new neighbors in town soon, based on the total accepted offers and homes under contract.

Cool Cape with central AC, private fenced yard, two driveways and many updates

Cool Cape with central AC, private fenced yard, two driveways and many updates

One featured listing in Fairfield with a brand new price is 286 Old Stratfield Road, now listed for $382,000 (down from $389,000). This is a cool cape with central air and great curb appeal, located near the new Fairfield Metro. For more market intelligence or to request a showing, please inquire below.

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Beach Brief: Fairfield & Westport CT Housing Markets

As this week of perfect beach weather continues, it seems like a great time for an update on shoreline housing in Fairfield and Westport.

Direct beachfront property! Click for more pics.

Today, there are 80 single-family homes for sale in Westport in the coastal neighborhoods of Compo Beach, Saugatuck Shores and Hillspoint.  Twenty-seven of these properties are on direct waterfront.  Asking prices range from $525,000 to $12,985,000.  One listing has an accepted offer.

In Fairfield, there are 121 active listings in the Beach area and Sasco.   Thirty-three of the homes are directly on the water or beachfront.  Asking prices run the gamut from $260,000 to $62,000,000!  Sixteen of these listings have accepted offers.

For additional housing information or to request a showing, please inquire below.

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Flags at Penfield Beach, Fairfield, CT

Flags at Penfield Beach, Fairfield, CT


  Photo Jul 08, 11 32 10 AM   Photo Jul 08, 11 49 48 AM

Photo Jul 08, 11 50 23 AM


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Spring-to-Summer Real Estate 2014: Fairfield, Westport & Weston CT

Spring came slowly and went fast this year!   So let’s take a look at our local FairfieldWestport and Weston markets compared to last year, January through May.  If we compare the inventorynumber of salesprices and the ratio of selling to asking price for single family homes, we can see some consistency across the three towns.

Rare beachfront property with summer cottage. $1,395,000

Rare beachfront property with summer cottage. $1,395,000

The inventory (number of homes on the market) was up across all three towns with an increase of 13%, 11% and 4% in Fairfield, Westport and Weston respectively since last year.

The median sale price was also higher at of the end of May compared to last year in all three towns.  The median sale price is the price where half the homes sold for more and half sold for less.  It gives an idea of the mix of price points without being skewed by an extreme high or low sale as would result with an average.  The median sale price in Fairfield was $549,500 at the end of May, up 4% from $529,500 last May. The median price was also 4% higher this year in Westport moving to $1,335,705 from $1,285,000.  In Weston it was up 11% this May at $791,500 from $712,250.

Unit sales varied among the towns.  Fairfield sales increased almost 7% from 216 to 230 this spring.  However, Westport sales volume fell 20% relative to the end of May last year, from 162 to 130.  Weston sales were also down 8% from 48 last year to 44 this year, but the town was showing a strong come-back during the month of May with a 33% increase year over year from 12 to 16.


  • Fairfield: Inventory Up 13%, Sales Up 6.5%, Sale/List Ratio at 95%
  • Westport: Inventory Up 11%, Sales Down 19.8%, Sale/List Ratio at 97%
  • Weston: Inventory Up 4%, Sales Down 8%, Sale/List Ratio at 97%

The sale-to-list ratio indicates how close to the asking price a property sold for.  The average at the end of May was between 95% and 97% in the three towns.   There was little change in Fairfield for this metric, as it shifted from 96% last year to 95% this year.  The ratio had been lower last year in Westport and Weston, at 92% and 94% respectively, but they both increased to 97% this spring.

In summary, seller confidence seems to have been strong given the higher inventory levels.   More homes in higher price points entered the market and sold this year as indicated by the higher median sale price.   Sales volume was down in two out of three towns and up somewhat in Fairfield, raising questions about the momentum of the spring market.  These unit sales numbers could have been a residual effect of the harsh winter causing a delayed spring market.  In the sales that closed, the high ratio of sale- to-asking price indicated that buyers and sellers were of a similar mindset on value.  Overall, this market snapshot positions us with a nice window of opportunity to make a move this summer- before the masses escape to Vacationland!

2014 Spring Snapshot Local Housing Data Tables

Cool Cape with central AC, private fenced yard, two driveways and many updates

Cool Cape with central AC, private fenced yard, two driveways & many updates.  List Price: $379,000 Open Houses: Thursday July 29 10 AM-1 PM & Sunday August 10 1 PM-3 PM

 

To Comment on this post, request a showing or ask a question, please use the form below.

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What Makes Your Home Showroom Ready?

dream-home-concept-25140859

Buyers’ first impressions happen within seconds of seeing a home.  After one glance from the street, a buyer may decide not to even go in!   So staging starts at the curb and continues throughout the house.  Staging is a marketing tool focused on the buyer.   Its goal is to attract the most buyers online and create an emotional connection for them once they are inside. Think about how you would have your car washed and detailed so that it looks showroom ready before trying to sell it.  Staging is a similar approach, but the goal is to appear better than new!   The house not only sparkles and shines, its assets are highlighted, its best use of space is demonstrated, disadvantages are downplayed and then the senses are tapped to maximize the home’s allure. Key elements of staging:

  • Eliminate clutter to create clean visual lines and show off the space.
  • Frame and showcase the home’s assets such as a fireplace or great view.
  • Downplay shortcomings of a home such as an undesirable view, tight space or low light.
  • Enable buyers to envision themselves living in the home by removing all distractions. The buyer should not know anything about the seller’s personal preferences in extreme color, art, decorating, religion, race, sexual and political orientation, hobbies, etc.   These factors are very distracting to a buyer, irrelevant to the sale and should not be seen.
  • Every inch is cleaned to sparkle and smell like new.  Strong odors from cooking, pets, smoking, mildew and general lack of cleanliness will instantly turn buyers away.
  • Appeal to the emotional power in our sense of smell, and simmer spiced cider on the stove, burn a scented candle or brew fresh coffee.
  • Play soft pleasant music in the background to further suggest an inviting home.
  • Let the sun shine in all the windows and the lights glow for the brightest space.
  • Overall, create a neutral but charming and welcoming space.

Your Realtor may recommend a professional staging company or just a few staging tips that he or she can help you with depending on the size of your home and how much work is needed to achieve your desired outcome.   Either way, launching a staging strategy for your buyers and pricing your house to sell will get you the edge on your competition, reduce the cost of a potential price reduction and extra months on the market and get you the best possible outcome from your sale. I’m happy to talk with you about staging resources and tips and your moving plans!

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10 Strategies for Pricing Your House Right

Pricing your house is not an exact science, but there are plenty of things you can do to help snag your buyer sooner rather than later.  Here are 10 of my strategies:

SOLD PIC

1.       Get the Market Scoop – Have your agent show you recent sales of similar homes nearby.  Note the sale prices, how long they took to sell and how close to asking they sold for.   Next discuss your competition and get a feel for what choices the buyers have and how your house stacks up.
2.       Note Improvements – Show your agent all the great things you’ve done to your house since you bought it that may increase its value.  Review maintenance and repair work as well.  This may help set you apart from your competition.
3.       ID Pros & Cons – Talk to your agent about what the key selling points and challenges are for your property and how this information can impact your price.
4.       Embrace Staging – Ask your agent how the marketing tool of staging to attract buyers can sell your house faster and for the most money.
5.       Don’t Do This – Avoid the mistake of pricing your home based on your personal finances.  The number you want or need may have nothing to do with the market value.  Only the market and the buyers determine your selling price.  Remember that if your house is worth more to you than it is to all the buyers, you will remain the lucky owner!
6.       Don’t Do This Either! –  Avoid accepting inflated price quotes from friends, poker buddies, colleagues, bridge ladies, the mail man and family members instead of your agent’s- unless of course they’re ready, willing and able to purchase your property on the spot!
7.       Try Buyer’s Eyes – Pretend you are a buyer choosing between your house and several others. Which one would you choose and why?  If your house offers more value than the others, maybe you can ask a higher price than your competition.
8.       Don’t Go it Alone – Unless you’re sure your house will fly off the shelf and you know how to navigate the complexities and potential pitfalls of a real estate transaction, be sure you hire a good Realtor.  Remember that if you try to price and sell on your own,

  • you will be missing much of the information needed to guide realistic pricing,
  • buyers will see that you have not invested in a broker and deduct that money from their offer price,
  • without a Realtor’s marketing plan, your house will not get the exposure needed to draw a strong buyer pool regardless of your price, and
  • if an offer comes in, you will be challenged to evaluate its terms and the quality of the buyer.

9.       Go Live! – Now your agent can launch the marketing plan with a price you feel makes the most logical sense after weighing all the considerations above.
10.   Track Course & Close! – Your agent will track showing activity and feedback as well as market changes.  If you have ample showings the first week, your price is likely right on the money!  If you don’t have offers after a couple of months (depending on the pace of the market) but you are still getting showings, a slight price adjustment will likely do the trick.  I am happy to discuss your plans and how I can help. Happy Selling!

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2013 Fall Housing Market: Westport & Fairfield CT

1284 Fairfield Woods Rd, Fairfield CT

1284 Fairfield Woods Rd, Fairfield CT Sold for $445,000 on September 17, 2013

It’s safe to say that our local single family housing markets have been doing well this year compared to September 2012!  Sales and prices are up, and inventory is down.

In Westport, the number of homes for sale through September decreased 11% from 364 last year to 324 this year.  Sales jumped 29.4% from 279 to 361homes sold this year.  The median sale price increased 3.5% from $1,225,000  to $1,268,000 at the same time this year.

In Fairfield, we also saw inventory down from 501 last year to 482 this fall, a reduction of 3.8%.  Unit sales were up 18.4% from 479 to 567 homes sold.  And the median sale price was also up 4.7% from $549,000 to $575,000.  Take a look at the chart for more detail.

Please contact me with questions, comments or new business opportunities!

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