But do you have roaming eyes for a better match? Maybe you feel like you’ve been spending time, money, and patience in a living situation that is not ideal. Making a big change may have its short-term challenges, but imagine the rewards of your future long -term pleasure. Those who have made it happen will tell you it’s well worth it, and this is as true for your old romance as it is for your home!
Your home is your place of comfort, peace, privacy, love, safety, work, growth, solace, rest, exercise, play, pride, and celebration. Your home is your castle! What is more important than that?
Fall in love with your home. Commit to it. The barriers to getting there will get resolved.
Changing homes is a monumental decision. It’s completely understandable that you may get sidelined by obstacles and hesitate for months, or even years, while settling for a subpar existence. But, if you agree that your long-term quality of life is “priceless”, it makes sense to reach this goal sooner rather than later.
“Marry the house! Date the rate!”
The new mantra speaks to the point that the home of your dreams is your commitment to your future, while interest rates are temporary like many other challenges people face when making a move.
There are financing options that help to offset rates in the short term. One is the “2-1 buy down” in which a seller can pay to reduce the buyer’s interest rate. It lowers the rate by 2% in the first year and 1% in the second year. After that, the buyer can refinance. If there is competition for the listing, and the seller is not likely to agree to a concession, another way to do it is to add the cost of the buy-down to your offer price so you can still get the lower rate.
Maybe you retired a while ago and have been dreaming for ages about downsizing, going to a more convenient in-town location, or moving out of state. But you’ve stayed put due to years of accumulated stuff and differed maintenance plus a huge emotional hill to climb before selling.
Ask vour realtor about a “refresh” service to do the heavy lifting for you. All the repairs, upgrades, decluttering, painting, and staging are managed and completed without you having to deal with it and with zero cash out of your pocket until closing!
You can focus on compiling and purging your sentimental items, reminiscing, and imagining your new future. Lean on your agent to guide you through the process and timing so that it is comfortable for you. You can sell your house for the most money and best terms and finally be on your way to the lifestyle you desire and deserve.
Perhaps you have an old summer home that was great when the kids were young, but it doesn’t see much action anymore, and it’s not even nearby. You don’t know how to go about getting it sold, and you’re worried about the capital gains tax you will owe.
Your agent can find you an excellent out-of-state agent and tell you about a 1031 Exchange to avoid the tax by putting the proceeds from your sale into a new investment property nearby.
Then you can rent it out for some passive income.
If you’re ready to love your lifestyle again, reach out to a real estate agent with strong online ratings, reviews, and presence for an initial conversation.
Your Realtor® is your marketing expert, professional guide, coach, problem solver, market specialist, technology expert, (many times, therapist!), and matchmaker!
When you’re ready to commit, your agent will help guide you to the perfect match, the new castle of your dreams!
Who knew your long-time insurance company has no loyalty? 🙄 I suppose it’s no surprise.
I knew homeowners in the Fairfield Beach area to have trouble obtaining flood insurance sometimes if the home was in a high flood-risk spot or had a history of significant flood claims.
But I had never come across anyone who was told they could not get plain ol’ homeowner’s insurance!
We had accepted an excellent offer for one of my listings in the Fairfield Beach area and the transaction was moving along very smoothly until the buyer tried to put her homeowner’s policy in place before the closing.
She used Chubb for her prior residence for the past 20 years. So she called them for a new policy for her new home. What they said was… no.
Fearful that the home I thought I just sold for my client was, for some reason, uninsurable, I called my go-to insurance and flood regulations guru, Robert Reade of William Raveis Insurance.
He explained that some of the carriers were hit hard from storms Sandy and Irene and were pulling way back on their coverage areas. Apparently Chubb fell into this category.
But Robert calmly explained that he had about 22 other carriers that would write a policy with no problem at all.
Phew!
So we enjoyed another happy ending with my seller moving onto her next chapter and the buyer moving into her lovely new home with the perfect insurance policy to go with it!
Here’s the full 2-minute video of how it went down.
It’s February, but March is Just Around the Corner!
The January numbers are in, so where do things appear to be going at the moment? I know many of you are thinking of making a move but may be hesitating due to uncertainty (see 3rd video below). I will keep you abreast of home values in Fairfield and Westport Connecticut each month here on the blog. Reach out to me for values in additional towns.
Since we are starting a New Year, I pulled the report showing 12 months ending in January compared to the same timeframe the previous year. Below is a comparison chart for Fairfield and Westport showing changes that favor buyers and sellers.
Home values were up.
The median and average sale prices were up as well as the average sale price per square foot in both towns compared to the 12 months ending in January 2021.
Inventory and new listings were down, putting upward pressure on prices. Homes sold on average for 102% of the list price, compared to 100% in the previous year.
In favor of buyers, unit sales and contracts were down. We have seen some opportunity for buyers to have a little more time, choice, and negotiating ability depending on the demand for the particular property. This leverage is very much on a case by case basis.
Due to the tight inventory, many homes are still selling very quickly with multiple offers. So buyers should be prepared with a mortgage pre-approval or proof of funds so they can make an offer quickly if they see a home that they like.
Below are my market comments for the last week in January and second and third weeks in February. (Click each image for the 60-second videos on Instagram). We saw an increase in new listings, but the accepted offers far exceeded this count! 🤷♀️ So we need new listings! 🏡 🏠 🏡
On a national note, the experts anticipate prices to remain relatively stable followed by continued appreciation beginning in 2024. So buyers in the current market may enjoy equity increases in the very near future!
Reach out to me anytime with your questions about the market and to talk about your plans. Not sure about your move yet? Please refer your friends to me using the form below.
When your clients say they won’t bid on the house until hell freezes over or HGTV gives them a free makeover. 🧐
Although buyers might not have the same level of negotiating power of yesteryear, there is still some opportunity to negotiate on a case by case basis. It depends on
🟠how much demand there is for the property,
🟠the motivation level of the seller, and
🟠how much concession the buyer is asking for.
If you are a buyer who will only consider a jackpot deal, you could luck out, or you could be waiting a very long time. 🤷♀️
Just kidding (about the photo, not the commentary)!
My clients just came across the picture and sent it to me. It looks so ‘retro’ I had to have some fun with it. I wasn’t waiting for my clients to decide on an offer. They had actually already bought the house and were about to cash in on a free makeover from HGTV when we filmed the show, HGTV House Hunters Renovations. We were on a break during filming in the kitchen. Below is their gorgeous renovated kitchen thanks to HGTV. Sometimes things just work out perfectly! 🏡 🌳 🌞
Here are a couple more snapshots from behind the scenes at some other properties we browsed for the show.
If you have questions about the market, moving process, or would like to talk about your plans. Drop me a note below!
As part of your prime homeownership experience, you want to have some great getaway options that are not too far away, right?
Living in Fairfield Connecticut, one of my favorites is Okemo Mountain in Ludlow Vermont! It’s just about two and a half hours away and it always refreshes your body and soul. You can leave home in the afternoon and check into your condo rental early evening, just in time for a glimpse of the slopes and a bite to eat in town. Then wake up and hit the ski trails. The beauty and peacefulness of the mountaintop views is just what the doctor ordered!
Finally, after a fun few days of fresh air and exercise, be sure to stop in at the Vermont Country Store as you head out of town. It is scenic, quaint, and super charming! Here are some snapshots of the full experience. If you would like to look into a home in the Fairfield or Westport Connecticut areas as well as homes near Okemo, DM me today. We have offices in each of these locations!!
If you would like to look into a home in the Fairfield or Westport Connecticut areas as well as homes near Okemo, DM me today. We have offices in each of these locations!!
Did you know there 35 points of negotiation in a Fairfield real estate sale? These terms can go your way…or not.
As a home buyer, you likely feel it’s a challenge to find a home in this market. As home seller, you may find it daunting to prepare your home for the market and you want to ensure your home is priced, presented, and marketed strategically so that you get the highest return and the best terms. Your trusted agent will help you accomplish both monumental endeavors.
Yet the process from contract to close can be the most challenging and vulnerable phase of your transaction.
Your agent must navigate and negotiate all the details and variables, both the anticipated and the unexpected, when working toward your successful sale.
There are 35 points of negotiation!
Price
Proof of funds, pre-approval
Timeline
Possession
Occupancy
Deposit money
Appraisal
Financing
Contingencies
Deadlines
Inspections
Repairs, remediation, or credits
Closing agency
Closing costs
Title search results
Survey
Permits
Property lines
Fences, trees, sheds
Easements, wetlands
Elevation certificate, elevation
Personal property
Insurance, property, flood
Home warranty
Other warranties- roof, mechanicals, builder
Water systems
Septic or sewer systems
Utilities
Prorations- oil, water, taxes
System or service leases- solar, water heaters, pest treatment
Assessments
Associations
Property disclosures
Walk-through
Closing!
There are many things that can go your way or not in your Fairfield real estate sale! You don’t want to pay the price without getting the value. With more 80 online testimonials and over $73M in sales, rest assured I will work tirelessly for your successful move just as I have done for all my other clients. Reach out to me today, and let’s discuss your plans.
It’s January 2023 and you are wondering, are home values falling? As a potential home buyer or home seller, you want to know where the values of your Fairfield County house are now and where they are likely heading.
I will keep you abreast of Fairfield County house values in Fairfield and Westport each month here on the blog. Reach out to me for values in additional towns.
Below is a comparison chart for each town showing the year-to-date change and an estimated forecast to address the question, “are home prices falling”.
As you can see, we are still in a seller’s market. Home values are up 12-25% in Fairfield and Westport at the end of 2022 compared to 2021. Inventory and new listings are down, and market time is down year over year.
Yet, in favor of buyers, unit sales and contracts are also down. And months of supply was up in December in both towns (data not shown). So this offers some opportunity for buyers to possibly have a little more time, choice and negotiating ability in the coming year. This leverage is on a case by case basis though. Due to the tight inventory, many homes are still selling very quickly and some still with multiple offers. So buyers should be prepared with a mortgage pre-approval or proof of funds so they can make an offer quickly if they see a home that they like.
On a national note, the experts have not projected home prices falling in 2023. They expect to see prices remain relatively flat followed by continued appreciation beginning in 2024. So more equity should be there for the taking for home buyers this year!
Reach out to me anytime with your questions about the market and to talk about your plans.
Below is November’s Local Housing Data for Westport, CT. Click the image to open the interactive report.
With the report open, use the menu in the upper left to search different towns and pull up more reports…like the Market Forecast tool! This is a screenshot of the expanded menu view:
Reach out to me anytime with questions about the market and your plans.
You may not be aware of this, but real estate agents make referrals for their clients all the time, and you should too! You will help your friends and your REALTOR® when you do!
Did you know?
Sixty-five percentof home sellers choose an agent they know or one who is referred by someone they know and trust (National Association of Realtors). This means that any friend of yours who is thinking about moving may be looking for a recommendation from you!
When I’m guiding you through your move, I don’t stop at the town line. I get you where you want to go.
Maybe you want to sell your Fairfield condo, move back west, and get a vacation condo in Saint Martin.
Perhaps you want to move from downtown Westport to a waterfront home an hour up the coast.
Or maybe you want to move out of Connecticut to New York or Florida.
When I help you make your big move, I work with you to get the top dollar and optimal terms for the sale of your Fairfield-Westport area home, and if your desired destination is beyond my direct service area, I refer you to an expert in the place you want to buy in. I oversee the process and ensure you are happy with your other agent. I coordinate timing and work together with the other parties to make the process as seamless and stress-free for you as possible.
Let me get you to your happy place.
I have helped many of my clients sell their homes and move locally or out of the area. With William Raveis, we have 140 offices with 4,400 agents in eight states (Connecticut, New York, Massachusetts, Rhode Island, Vermont, Maine, New Hampshire, and Florida). We are also proud to partner with the invitation-only Leading Real Estate Companies of the World global network spanning 55 countries with 4,000 offices and 128,000 overseas sales associates. Your luxury listing is represented with over 200 selected luxury affiliates through our membership with Luxury Portfolio International, the global gold standard in luxury real estate. Tap into my extensive network of elite local, regional, and global brokerages to help you move around the corner or around the world.
Referrals? Yes, Please!
Most of my business comes from referrals from clients and repeat clients. If you want to help a friend make a successful and low stress move, refer them to me. As always, I promise to take excellent care of them. They will be grateful to you, and so will I.
Referrals are a win-win, so share the love! ❤️ ….Did I mention that referrals are a win-win?
During a recent meeting of the Greater Fairfield Board of Realtors, a panel of town officials from several departments presented updates and information for discussion among the group. I was struck by the new Conservation Director’s announcement that the volume of inland wetland violations has skyrocketed recently with all the new homeowners moving into town and being unaware about the presence and importance of wetlands. He asked if we could help him get the word out to people.
So (on an unseasonably hot day in November!) I met with Fairfield’s new Conservation Director, Tim Bishop over coffee to talk about how I can help homeowners in town learn how to protect our precious wetlands. Tim is an expert environmentalist with almost two decades of experience. He is an excellent resource for our town and truly wants to collaborate with homeowners to help them get their home improvements done while protecting our fragile natural resource, the inland wetland areas.
When meeting with Tim, I learned that most people are not aware of the importance of protecting wetlands. I learned that protecting our inland wetlands is critical to controlling flooding and stormwater run-off, maintaining our water quality, and preserving natural ecosystems that need still (vs. flowing) water to breed and live. Healthy wetland areas hold onto water which allows a natural cleaning process to occur and provides the environment necessary for wildlife survival, while controlling flooding.
People don’t realize that their actions could be permanently destroying this critical natural resource, and they don’t realize that what they do in their yard impacts other people. So I assembled the information below to address the key issues and also put it in a handout for people to use and share.
HOW DO I KNOW IF MY PROPERTY IS REGULATED?
Call the Conservation Department. Ask your REALTOR® to check your deed.
Your property may have a water course, wetland soils, a buffer zone from adjacent wetlands, or a conservation easement to preserve another fragile natural resource.
Your property may have wetlands and be regulated even if it appears to be dry. Regulated activities include any “digging” (even 1 inch down) and “dumping” (depositing any material in wetland areas)
WHAT SHOULD I DO IF ACTIVITY ON MY PROPERTY IS REGULATED?
Call the Conservation Department to learn what impact your future plan would have on the environment and how it can be done safely. They will tell you if your project needs a “staff level permit”, a “commission level permit”, or no permit at all.
Be sure to come in for a Concept Review before submitting a permit application online! After your Concept Review, you can submit your online permit application.
WHAT’S IN IT FOR ME?! Water Quality: Healthy wetlands hold onto water & enable a natural cleansing process for clean water. Flood Control: Healthy wetlands control flooding & prevent storm run-off.
Ecosystems: Healthy wetlands hold onto water that is critical to wildlife’s ability to breed & survive. Prevent Permanent Loss: Once a natural wetland area is damaged or destroyed, it can never be restored to its original natural integrity. Prevent Violations: Conservation violations are costly to the department, to you, and to the environment.
Resource to Help You: The Conservation Department is led by expert director, Tim Bishop who is here to help you plan your project and protect our inland wetlands.
Just Give Them a Call!
CALL BEFORE YOU START. Learn whether your property is regulated, what you can do, and where you can do it.
Tim Bishop, NEW Conservation Director 203-256-3071
FAQS:
Q. I’ve heard horror stories about getting Conservation involved in any projects. Why should I jump through hoops and pay the town extra money?!
A. Good news! There is a NEW director of conservation and new staff, all of whom are experts at protecting the inland wetland environments. They want to collaborate with Fairfield residents to ensure we can all enjoy the benefits of preserving healthy wetlands. They are very reasonable and are streamlining pricing, guidelines, and the way they work with homeowners. They truly want to connect with you to help you get your project done in a way that is safe for the environment and protects it for generations to come.
Q. Why would activity on my property be regulated by the Conservation department?
A. There are three possible conditions: 1) There are watercourses or wetland soils on your property. 2) There are wetlands or wetland soils on a nearby property with a protective buffer zone extending onto your property. 3) There is a conservation easement on your property deed (I.e. to protect a meadow). If any of these conditions exist, activity on your property is regulated by Conservation. This does not mean you will always need a permit or that you can’t implement your plans. It means that the experts in the department need to work with you on a plan that is safe for the environment.
Q. Why does conservation regulate my land?
A. The department only regulates activity that has an impact on the environment in regulated areas. It does not regulate your land. What you do in your yard impacts other people and the environment.
Q. What activities are regulated?
A. Any activity that involves digging (even an inch down) and dumping (depositing material in a wetland area) that disturbs wetlands. Some examples are: Installing pools, fences, patios, generators, sprinklers, koi ponds, dumping branches, brush, animal waste, etc.
Q. Can I plant stuff?
A. Check with conservation first if you have a regulated property to learn which species are native vs invasive. A permit will be needed for anything requiring trucks or heavy equipment, but manually planting native species might not even need a
Q. How long will it take to get a permit?
A. There are two types of permits, the CWC (Certificate of Wetland Conformance), and IWP (Inland Wetland Permit). CWC is a “staff level” permit which takes 1 to 1.5 months. It includes a 15-day waiting period for the public to weigh in on the applicant’s posting in the newspaper regarding their proposed activity. The template for the post is provided by conservation.
IWP is a ”commission level” permit which takes 3 to 4 months. The inland wetland commission is a self-managed group that adheres to regulations from the state. They meet monthly. Some projects may need discussion in more than one meeting.
Q. How much will it cost me to get conservation involved?
A. The new director, Tim Bishop is in the process of revamping the fees to make them much more cost effective. There will be a simple menu of activities, each with a very reasonable associated fee.
Q. How can I stay informed about inland wetland information?
A. Tim posts new information each month on the department homepage at Fairfieldct.org/conservation. But you can always call and ask your questions directly. Tim says, “Just give us a call!” Of course you can also stop in during office hours and visit the wetlands map.
If you are thinking of buying and/or selling a property and have questions, you can reach out to me below.