Fairfield and Westport CT Real Estate Guide

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

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Choosing the Right Real Estate Attorney: 10 Questions to Ask

If you already have an attorney in mind before you connect with your Realtor®, read this post to make sure this attorney is the best choice for your home purchase or sale. You might think your attorney is of no concern to your agent, that if you know the attorney or have dealt with them before, they are your best option. You may feel a recommendation from a friend covers all the bases. If you’re like many others, you might not have considered the critical factors below about the attorney you hire to successfully close your real estate transaction.

Here’s a Top 10 List of questions you should know the answer to before bringing your attorney on board.

  1. Does he play well with others?  There are real estate attorneys that give their egos priority over their fiduciary responsibility to their clients.  These lawyers may decide they don’t like the lawyer on the other side of the transaction and deliberately try to kill your purchase or sale as an assault on that attorney. Play well with others?Your Realtor may have worked patiently and tirelessly to successfully negotiate optimal terms for you thus far only to then work triple-time behind the scenes to keep your purchase or sale together because the attorneys are butting heads. You may know nothing about this unless your sale falls through because of it. You want to work with a lawyer that relates professionally with all parties in the transaction at all times. Otherwise, they are being counter-productive and are doing you (and everyone else involved) a disservice.
  2. Does she know the TRID lending regulations? There are lending regulations that require a three-day period before closing for the buyer to review all the final numbers compiled by the attorneys. This requires attorneys to be well organized and proactive in compiling the credits, debits, and allocations of taxes, insurance, oil deliveries, etc. earlier than in the past. There are also new forms they need to be familiar with.  If your lawyer is not up to speed with the new regulations, your closing can be significantly delayed at the last minute as a result.
  3. Is he overly chatty or verbose, adding to your bill? I have worked with attorneys that have kept me on the phone for almost half an hour every time they called and then complained about all the extra time they are spending on the case, stating that they will have to bill for it. I’m sure this is not what you want.Wasted time costs you money
  4. Does he communicate effectively with you, your agent, the lender, and the other attorney? There are attorneys that act like it’s beyond their scope of work to communicate effectively with the other parties in the transaction.  Some barely respond to calls or emails at all! Communication is a critical component in your purchase and sale because the lender, the two Realtors, and the two attorneys have a huge amount of detail to coordinate in order to keep your sale on track. entrepreneur-1001611__180 If any of the players are “missing in action” it prevents the process from progressing efficiently, and critical information can fall through the cracks.
  5. Does she specialize in real estate?  If your attorney focuses more on criminal law, divorce, or other areas besides real estate, you can end up with an attorney that is in court or unavailable when you need them at a critical time. Specialized in real estate
  6. Is she familiar with the local regulations and practices? You want to be sure your attorney is knowledgeable about the local area of the home you are buying or selling. The process and attorney responsibilities can vary from county to county.  There may also be issues that arise about boundaries, zoning regulations, permits or other things specific to your town that your attorney will need to know about.
  7. Does she have a paralegal?  Many attorneys diversify their workload to include more lucrative endeavors than real estate closings.  This is fine for you as long as they have a paralegal and/or partner in her practice to keep everything on track when she is focused elsewhere.  Otherwise, you and everyone else involved in the transaction can be stuck ‘dead on the vine’ waiting for a critical response or document.Paralegal or partner?
  8. Is he efficient? Some attorneys are content with creating delays and taking their time to get things done. Efficient?Ask any lender or real estate agent what’s important about an attorney, and they will tell you efficiency (second to good communication)!  The entire transaction is on the clock from the moment an offer is accepted.  The attorney must send and receive the contract in the allotted timeframe and then get it to the lender. They must complete a title search and address questions and concerns in a timely fashion, and they need to prepare all the closing documents on time, or your closing could be postponed.
  9. Is she versed in your areas of specific concern? If you know your transaction will involve added elements of complexity, you want to be sure your attorney can still handle it with ease. For example, if you are moving out of state, coordinating a purchase and sale or pursuing a short sale, run this past your agent and potential attorney up-front to assess their experience and comfort level.
  10. Has your agent recommended him or her? Last, but not least, the most thorough insight you can get on your would-be attorney is from your Realtor.  Thumbs upMany of the questions above are not ones you can easily get answers to by interviewing the attorney directly or even from a friend who’s used him or her. If your agent hasn’t worked with the lawyer directly, he or she can ask other agents how well that attorney as served his client and worked as a team player for a successful transaction in the past. Your agent’s only interest in the attorney you hire is to get a solid team member on board to help ensure a smooth move for you!

Is there an attorney you are considering that you would like feedback about?  Have you had a good or bad experience you would like to share?  Is there something you would add to the list above? Your questions and comments are welcome below.

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Nothing Like a Great Back Yard on a Holiday Weekend!

My own backyard in the Fairfield beach area is one commonly referred to as a ‘postage stamp’, though it still manages to accommodate our trampoline and numerous get-togethers.  However, some good friends of mine in Westport have a much more spacious backyard with abundant space for fun, games and big-time bashes.  We’ve been to quite a few, with the latest one being Memorial Day weekend 2016!

Hillandale Back Yard and Patio

It turns out, these friends have just moved their social agenda to another gorgeous yard (and home) nearby.

New Home, New Back Yard!

The good news for all of you readers out there is that the wonderful backyard my friends have left now has a brand new house on it that will be ready to support a new source of festivities!

Tucked away just off Turkey Hill South, a new home sits on a quiet country lane cul-de-sac. Carefully designed and finished on four levels, this home will feature elegant transitional style with open flow and ethereal light. Romantic landscaping and plantings surround the level property making it super for entertaining, fun in the sun, and peaceful relaxation.  It is the Hillandale House.

6 Hillandale Lane, Westport CT

6 Hillandale Lane, Westport CT

The builder, Coastal Construction Group, has fine-tuned the art of quality home construction by providing careful attention to site design, layout, architecture, craftsmanship and the right property location. As we all know, a home is more than just the place we live, it’s the foundation for everyday living.  Added bonus?  This home is located four minutes from Green’s Farms station and under an hour from Manhattan!

Take a look at the sneak peek video, and visit the listing online and check out a snapshot of the progress!  Perhaps you know someone who has been weighing the options of renovation versus new construction and this may be a consideration?  If you or a friend may be interested, reach out to me at 203-912-4440 or send a note below.

In the meantime, whether it’s Memorial Day, Father’s Day, a graduation party, or just plain summer fun, here’s to a great backyard barbecue!

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Save Money, Have Fun, Do a 1031!

If you own an investment property and are thinking of selling it to buy a different one (or two), you can do a 1031 Exchange and enjoy great benefits!  What’s so great about it, and how do you do it?

Here’s how it works-

  1. With IRS code 1031, owners can defer paying all capital gains on investment
    property. This means that if you own property used for business or investment, you can sell it and use the proceeds from the sale to reinvest in another investment property of greater or equal value to defer paying taxes on your profit.
  2. You have to declare that you are doing a 1031 Exchange before you close on the sale.
  3. You have to meet the 180-day rule: Investors have 180 calendar days to complete the exchange and close on all intended purchases.
  4. You have to meet the 45-day rule:  Identify up to three possible replacement properties within the first 45 days of the 180 day period. You can also sell multiple properties and buy one big property.   If you identify more than three properties, the total cost of the identified properties can’t be more than twice the value of what you are selling.  If you identify more than three properties and they end up totaling more than 200 percent of what you are selling, then you have to buy 95 percent- worth of the properties you identified in order to complete the exchange. Your replacement property must cost more than the net sale price of your existing investment property for full tax deferral. 
  5. You Must use a Qualified Intermediary (QI) to facilitate the 1031 exchange.  The QI takes care of everything for you including preparing the exchange agreement, handling escrow, and coordinating with the closing agents.  The QI must be a third party to the transaction.  He or she can’t just be an attorney or a Realtor® in the transaction that puts the sale proceeds and funds in an escrow account, nor can the QI be a relative. These are IRS regulations. 
  6. You cannot have access to the proceeds from your sale. It must be held by a qualified third party until it can go directly toward your purchase(s).

And here are six amazing benefits of doing 1031 Exchanges-

  1. You enjoy huge savings on taxes.
  2. You can shelter your earnings in real estate, legally!
  3. You can diversify or consolidate your investment property.
  4. You can gain buying power by reinvesting.
  5. You can create more income to build your wealth.
  6. There’s no limit to the frequency or quantity of 1031 exchanges you can do.
  7. You can have the property(ies) you want to have.

Consider an “equity build strategy” suggested by the Midland company (referenced below) that looks like this:

  • Defer paying up to 25 percent in taxes on your gains.
  • Sell a moderately producing property to buy a higher income-producing property and increase your monthly income.
  • Pay no federal, state, capital gain, or income taxes on the sale of the property.
  • Do 1031 exchanges over and over for a lifetime, and the tax liability will never be passed on to your heirs.
  • Base your strategy on cash flow, and you will have success in any market. The key is to get the highest percentage income on your purchase.  Even if the dollar amount is small, it will grow over time.  For example, if you can sell a property making seven percent cash-on-cash and buy a property that makes 23 percent cash-on-cash, you are well on your way to implementing an excellent equity build strategy!  Equity bulid strategy

It’s a good idea to use a QI that is local or that works in many states and is familiar with the varying regulations and taxes in different states. You want a QI that has experience and is bonded and insured. You also want to look for one that is a member of the National Federation of Exchange Accommodators and that is a Certified Exchange Specialist (CEC).

Here are some resources to get you started:

IPX1031

1031 Exchange Made Simple

Midland Self-Directed IRAs & 1031s

For help selling and locating properties, please reach out to yours truly!

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Winter Open House Tips: Excite, Delight & Invite!

Many people believe that winter is the hardest time of year to try and sell their house. While it’s true that sellers can’t showcase their colorful warm-weather landscaping, there are plenty of other things you can highlight.

The good news about selling in the winter is that the people out looking are typically very serious buyers with a clear timeline in mind for purchasing a home.  Add to this the benefit of less competition to deal with as other sellers wait for the crowded spring market.

One key marketing activity is to hold an open house.  What can you do to make an endearing impression of your fabulous house that offsets any winter doldrums?

Make prospective buyers feel like welcome guests and present your house as though you are hosting a special gathering for family and friends. While your agent highlights all the selling points, the special effort you make will give an enchanting edge toward a special intangible attraction you want buyers to feel that I like to call chemistry!

Start by planning ahead as you would for a big party.

Excite with Winter Curb Appeal
Let buyers see from the street what a warm, charming, romantic and inviting place this will be when they come in.

Consider ideas like a planter or two with colorful evergreen plants and branches, window boxes or hanging baskets.

Winter window box

Image credit: Lea-Ann Vernig

Elegant winter planters

Image credit: settingforfour.com

 

 

 

 

 

 

Charming winter porch display

Image Credit: HGTV

A bench or trellis can add a nice focal point and polished look to an otherwise bare area.  A brightly colored chair and new welcome mat can go a long way toward creating a fresh look. Here are some photos of welcoming winter homes and a historic winter home for further inspiration.

Romantic winter home

Image credit: insidearciform.com

If there’s snow on the ground, a well-shoveled driveway and path are an absolute must. The last thing you want to do is make visitors feel like it’s a treacherous hardship to get to your house, or worse, let them risk injury.  If parking is tight, clearing some space along the street is also a good idea.

Of course, an adorable snowman fully adorned with your most innovative accessories, and maybe an open house sign can help to set the tone!  Consider leaving some outdoor lights on for an added welcoming glow on an overcast day.  On a practical note, you may want to have a basket of booties inside the front door to keep your house clean.

Make it Delightful and Warm Inside
Think about what makes you feel warm and fuzzy when you visit a friend’s house for a winter get together and aim to delight all the senses.

Light a fire in the fireplace or light candles (real or artificial) on a dining room table and in the bathrooms, simmer apple cider with cinnamon on the stove. play some nostalgic music.

Festive fireplace with candles

Image credit: HGTV

Implement some whimsical touches, such as displaying a card game, a recipe book for creative holiday drinks or hanging brightly colored winter scarves or hats on hooks in a mudroom.

If it’s the holiday season, display festive touches with glass, silver, and natural materials for an elegant, romantic look that will have the broadest appeal. Avoid commercial decorations and religious symbols that may distract, turn off or offend some people.

Use photos to showcase key features of the home that may be hidden during the winter such as colorful gardens, scenic views, a furnished deck or patio or beautiful pool.  Show pictures of the house across all seasons.  This can be done with an open photo album or by framing and hanging a few beautiful photos around the house.

Invite the Guests!
Last, but not least, with your preparations under way, your agent can feel confident about promoting your wonderful open house.  They can get the word out near and far with an ad in the paper, special door-hanger invites to the neighbors to come for the first hour, posts to all the social media platforms like Facebook, Twitter, Google+, Instagram, LinkedIn, a published Event on Facebook to which guests can be invited, the date published on all the real estate websites and the MLS, a bulletin in your town’s local Patch.com and on your agent’s blog, and of course, plenty of  signs leading the way!

If you wonder about the benefits of having an open house, take a look at the discussion of “Open House Pros and Cons” and feel free to leave a comment on the page.

If you have more ideas for hosting a magical open house, please share them below!

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Get to the First Beachfront Open Houses in 2016!

Well, the winter weather was balmy for awhile, but we’re off to a brisk start for the New Year.  It’s a perfect time to dream about summer, so mark your calendars for some great beachfront open house events you can look forward to!

Birdhouse by Russian Beach, Lordship

Birdhouse by Russian Beach, Lordship

Lordship Lifestyle at Russian Beach
OPEN HOUSE: Sunday, January 24,  1-3 PM

Visit this better-than-new colonial with a new price of $859,000 and water views from every room!  Enjoy an open flow, high ceilings, ample light and a private fenced yard for relaxing and entertaining.

See the Listing
Take a Quick Tour


Kensie Point on the Sound
OPEN HOUSE: Sunday, February 28,
 1-3 PM

Come to the beach in Fairfield to see this turnkey beachfront condo priced at $845,000 and enjoy the fabulous water views!

Sunset at Pine Creek Beach, Fairfield

Sunset at Pine Creek Beach, Fairfield

See the Listing
Take a Quick Tour


Come to the beach and make an offer that can change your life!

Contact us with any questions or to request more info-

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Moving is So Bittersweet

You might say the phenomenon is like a rollercoaster ride when a house changes hands. It goes from someone’s beloved home to being the commodity of ‘a house’ and then back to a dear home again when the new owners move in.

And during this process, the lives of those connected to the transfer undergo such a monumental, emotional and bittersweet transition.

Cathy & Sal

Cathy & Sal

Cathy and Sal passionately enjoyed two decades of raising a family on Charles Street in the Fairfield Beach area. They always celebrated holidays to the hilt. Their elaborate lawn displays each Halloween included their camouflaged kids as spirited spooks who actively taunted trick-or-treaters before handing out candy. And their Christmas displays included every conceivable festive (inflatable and not!) item they had in their attic during the off season! Top these 20 Halloweens and 20 Christmases with a beautiful wedding ceremony for their eldest daughter this past summer, and you have just a few exceptional memories in your chest.

But now that the last of two girls and a boy have grown up and found a place of their own, it was time to move on. They didn’t expect it all to happen so quickly, but they priced their house to sell , staged it to look great and had it under contract for above their asking price in just 23 days!

Cathy and Sal found another fantastic home near the shore in New York and will be much closer to their family. This was an exciting change and the start of a new chapter, yet I know Cathy was fighting back the tears as she waved goodbye to her old house and smiled for the picture before making the full transition to her new home.

Today Charles Street welcomes a new family with two little boys, and like Cathy and Sal, they’re ready for lots of new good times to be had!

For questions and about your own transition, just send me a note below, and I’m happy to help. -Linda

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5 Things I Bet You Didn’t Know about Lordship, CT!

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Here are five cool facts about Lordship Connecticut, that you probably didn’t know before. Read on and enjoy!

ONE – Two movies were filmed in Lordship: “Butterfield Eight” with Elizabeth Taylor in 1960, and “Hell Island” between 1981 and 1983.

Lordship

TWO –  The gigantic German dirigible, The Hindenberg was seen by residents flying about 1,000 feet over Lordship on Thursday, May 7, 1937 at about 2:30pm during the flight that would be her last.

THREE – The Dixie Doodle Diner was one of the first of Lordship’s drive-in eateries in the 1940s.

Dixie Doodle Diner
Photo courtesy of Stratford Historical Society

FOUR – In the 1890s, the Lordship Casino was both the commercial and cultural center in addition to housing the first firehouse on its first floor and the first school on its second floor.

FIVE – I can help you find a lovely home in Lordship!  Send me a note below and tell me what you’re looking for or ask any real estate questions.  I’m here to help you make you make your move!

 

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Annie and Andrew’s Story

 

Annie & Andrew

A seasoned recruiter for a financial firm on Merritt 7 in Norwalk Connecticut, Annie knew a good candidate when she saw one.   The perfect asset for the current position was one she had already recruited once before, and that would be her husband!  Given their relationship, Annie’s boss had to step in and seal the deal, but Andrew was on board in no time.

The next step was to move from their home in Avon to a town closer to Norwalk that was affordable and had good schools.  Annie’s boss lived in Fairfield and was a strong advocate.  She convinced Annie and Andrew that this town would fit the bill.

So Annie and Andrew’s agent in Avon called me to help them find a new home in Fairfield.  We spoke on the phone, and I set up their online search.   Immediately Annie saw something she liked and came to see it the next day.  Andrew couldn’t get free until the weekend, and by then the house was gone.  Three more times, the timing was too late or multiple bids got in the way, and three more homes were lost. Homes in their price range in the Fairfield university area were in extremely high demand and flying off the shelf!

New Home in Fairfield

Although Andrew liked the homes he had seen, he was still having a little trouble understanding the value for the prices in Fairfield compared to Avon.  Annie and I gushed about the treasured amenities in Fairfield such as the gorgeous beaches, convenient train stations, chic eateries, vicinity to Manhattan and the fantastic vibrant community. I wish I had this video tour of Fairfield at the time! Still, Andrew just shrugged his shoulders and went with the flow, primarily motivated by a quick commute.  

Finally, a lovely pricier home had a price reduction.  We immediately went to see it and this time lucked out.  Annie and Andrew landed a beautiful expanded Cape on a pretty university area street.  They lost no time starting to make memories with their little son George, their new neighbors and all the block parties scheduled for the year.

A short time later, Annie sent me a note that said, “Hi Linda, we love the house, and we have fallen in love with Fairfield.  We have only been in the house a little over a month, but it truly feels like home, and I would say George agrees!  We cannot thank you enough for all of your help. You were terrific to work with, patient and helped us every step of the way. Relocating to a new area is overwhelming, and you really made us feel at ease throughout the whole process.  Thanks again for everything.  We hope to see you around town!”

So we welcome Annie and Andrew to Fairfield and the university area along with some of our other recent new neighbors, Ping and Danian and Rich and Chris.  Annie and Andrew’s story is all about taking that leap toward the next chapter of exciting new beginnings- A new love. A new job. A new town. A new home.  Follow your dreams, and the rest is history in the making!

For questions about your next move, contact me any time!

If you're thinking of moving in the next 12 months, call now for your free consultation -> 203-912-4440

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Realtor Helps with All New “CKC” Salon in Fairfield: Cut. Keratin. Color!

Remember the fun and adorable couple, Michael and Ella from HGTV?  If you missed the original airing of their eposide, it’s airing again September 19th at 9:00 AM on HGTV’s House Hunters Renovation, “An Old House Gets a New Master Plan”.  Click here for a description and show times.

Michael on HGTV's House Hunter's Renovations

Michael on HGTV’s House Hunter’s Renovations

Well Michael and Ella have been back in action with a new endeavor!  About a month ago, Michael called me and said they wanted a new space for Ella’s hair salon.  They wanted to create an all new CKC salon in Fairfield where their clientele could better enjoy a cut, keratin and colour.  Their current CKC was outgrowing its space, and business was booming!

So I ran a search, and the perfect opportunity surfaced.  The owner of a struggling salon business wanted to call it quits and move to Florida making her space available for lease!  It was an ideal property- in a nice busy plaza on the Post Road in Fairfield with plenty of visibility and parking.  The space was a step up in size and amenties but not too big.  It had all the necessary mechanicals and just needed a face lift.

CKC salon & Keratin bar

CKC salon & Keratin bar

We set to work on negotiations, and within a couple of weeks CKC salon & Keratin bar opened its doors in a glamorous new home!

First where they live, then where they work, Michael and Ella have done complete make-overs in their new spaces. For their new salon, they opened-up walls, infused a fresh chic style and brought in all new furnishings!

Now clients enjoy a bright, airy and elegant atomosphere where they are treated like honored guests.  When they come, they can get a specialized Brazilian Keratin treatment for an unbelievable smooth shiny finish as well a precision cut and colour.

I’m lucky enough to have been one of the first customers at the NEW CKC salon, and they were lining up behind me!  Be sure to visit online and in person for your appointment.

CKC salon & Keratin bar
254 Post Road

Fairfield, Connecticut  06824
ckcsalon.com
ckcsalon@gmail.com
(203) 292-5835

CKC salon & Keratin bar

CKC salon & Keratin bar

Photo Aug 13, 3 49 05 PM

CKC salon & Keratin bar

 

 

 

 

 

 

 

 

 

As always, contact me any time for your real estate needs, or even if you just want to hear more about CKC salon & Keratin bar!

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How Could the “Wrong Direction” Seem So Right?

That’s what my relocation client asked me as we went to visit five drop-dead gorgeous homes in Fairfield Connecticut.

Ping and her family were moving from South Carolina to pricey Fairfield County.  Although the home sizes were not quite as grand here as what they were used to, I could sense a growing excitement about Fairfield as I shared some impressive numbers including our 11 elementary, three middle and two high schools, five beaches and three train stations.

The Chelsea Restaurant, Fairfield CT

The Chelsea Restaurant, Fairfield CT

A few added highlights like our huge Fourth of July celebration at Penfield Beach, the superb beet salad at The Chelsea and the crazy dog beach at Lake Mohegan didn’t hurt either.   The visual tour was the icing on the cake!

Ping and her husband Danian both worked for the same company in South Carolina.  She took a new job nearby, and he was able to stay with his company and transfer here. Their son and daughter would be going to elementary school.

New home in Fairfield CT

New home in Fairfield CT

The location of the home they chose in the university area was perfect.  Their kids could walk to school.  And when Danian’s parents came to visit, they could walk there with them. They were situated on a wonderful cul-de-sac and already had an elaborate play set in the back yard.  The house was stunning inside and out.  It was beautifully finished on four levels and came complete with a beautiful in-law suite.  And if all that wasn’t enough, the garage was fully equipped with cabinetry and a high-end custom flooring that looked like you could eat off it!

How can something so wrong seem so right?   Welcome to Fairfield!

Congratulations

Congratulations!

Feel free to comment on this post and reach out to me with your questions and real estate needs. – Linda

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