Fairfield and Westport CT Real Estate Guide

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

Tag Archives: fairfield ct


by Leave a comment

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

← Back

Thank you for your response. ✨


by Leave a comment

Homeowner Use of Social Media: Lifeline or Liability?

Most of us use social media networks like Facebook as a convenient go-to tool for fun, entertainment, communication, sharing, advice and recommendations.  And it’s a great way to get some instant gratification for all of these things.    Buyers Browse Facebook

But most of us also know there can be a dark side to these perks. We’ve all heard about the folks who’ve shared embarassing moments and pictures online that they’ve since regretted.  Once it’s out there on the web, it’s likely to always be out there on the web… somewhere.

Well, if you are a homeowner seeking advice or recommendations for repairs to your home, remember the point above.  If you illustrate a leak in your dining room ceiling in a photograph on the world wide web, remember that it will still be out there when you ultimately decide to sell your home.  Not that there is any harm done here.  However, if you present an important issue with your house online such as a leak, or a mold problem, etc., be sure to disclose it when you sell.   In Connecticut the Department of Consumer Protection requires sellers to complete a residential property disclosure report for potential buyers or pay a penalty of $500 at closing.

Buyers are excited, curious, nervous and saavy people… as well as frequent users of the internet. They might just be browsing your social networks.  If your leaky ceiling issue is disclosed on Facebook, but not on the required property disclosure when you sell, you could heading for trouble.  If you try to conceal an existing issue with your house, there is risk for liability.

So think about what you post online when it comes to your home repairs, and remember what you posted when it’s time to sell your house.  If the problem has been repaired, that’s great, your buyers will be happy to know about it!

Feel free to contact me any time with questions about buying or selling a home!   -Linda

← Back

Thank you for your response. ✨

 


by 3 Comments

Pricing Your Home Right

Here are a few true stories that occurred in May of 2015.  Three comparable university area homes for sale in Fairfield Connecticut accepted offers.  The properties and prices were similar in scope, but the paths the sellers took to get an offer were quite different.   I’ll assign each house a color instead of using the address to protect privacy.  I am privy to the information because my buyers bid on all three of these homes.

White House

A White house with 2,293 square feet, four bedrooms and two and a half baths on .31 acres came on the market for $675,000 the previous November.  The listing canceled and put back on the market as a new listing for the same price in January 2015.  Over the next 130 days the price was reduced to $669,000 and then 649,000.  It was newly listed again in May for $625,000.  The sellers accepted an offer of $610,000 which was 97% of their final asking price but 90% of their original price from more six months prior.

green house

A Green house was listed in March for $650,000.  It had 2,352 square feet, two and a half baths on .49 acres.  The price was reduced to $619,000 and then to $610,000 and was ultimately re-listed with a new price of $600,000. Less than two weeks later, the sellers received multiple full price offers for $600,000.  The sellers got 100% of their final asking price, but 92% of their original list price.

On May 12, homeowners listed a Red house for sale with 2,164 square feet, three bedrooms and two baths on .22 acres for $619,000 and accepted an offer the next day!

Since the two homes above sold for 97-100% of their final asking price, and the average sale-list ratio in Fairfield from January to mid-May was 97%, my guess is that the sellers got very close to their asking price, and in one day, not bad!REd House

So what are the take-aways?

Price: You won’t get more by pricing your house much higher than market value.  Remember you have to sell your house three times- to the buyer’s agent, to the buyer, and to the appraiser. Buyers may be attracted to your house based on emotion, but their final decision is based on the market data that their Realtor provides to them.

Time: The higher above market value you price your house, the longer it will take to sell, and remember, time is (taxes, utilities, insurance, repairs, maintenance, personal time and energy…) money!  The stories above show that in this price range, a list price of 8-10% above the market value is too high to attract an offer.

Since the market is what determines your property’s value, not your personal finances (or Zillow!), price your house within 5% of, or right at market value.  This way you can enjoy a fast sale at a fair market price, and get to where you want to go sooner rather than later!

Feel free to contact me for a pricing recomendation and custom marketing plan or any questions you may have about the buying and selling process.   I’m here to help!

← Back

Thank you for your response. ✨

 


by 2 Comments

Last Local Housing Market Update for the Year, Plus Some Holiday Bloopers!

As we head towards the final holiday week before the New Year, I wanted to give you the current housing market snapshot.   I’ll give you the full-year summary once we are well into Q1 of 2015 and all the numbers are in.  So here’s the scoop for now-

Inventory of homes for sale was up in Fairfield (21%), Westport (16%) and Weston (6%) at the end of November compared to 2013.

Sales were down in Fairfield (-25%) and Weston (-30%), but up thirteen percent in Westport compared to November last year.

Even though sales dipped in Fairfield in November, the average days on market was 24% less than it was a year ago (99 vs. 131).  However the average market time was up nineteen and twenty percent respectively in Weston and Westport.

Click here to see tables with more detailed information. Let’s see what happens in the New Year.   My phone has been known to ring on January 1!

In the spirit of holiday entertaining fun, why not enjoy some cooking bloopers from Martha Stewart. Happy Holidays, and send in any questions or request you may have below!

← Back

Thank you for your response. ✨

Linda Raymond, Realtor
William Raveis Real Estate
2525 Post Road
Southport, CT 06890
203-912-4440 direct


by Leave a comment

Great Finds on Both Sides of Town!

Whether you know someone looking for a cute cape close to Black Rock Turnpike shopping and the new Fairfield Metro Center, or a proposed new construction on the beach near Fairfield’s bustling downtown scene and train, there’s a home for the taking!

Fairfield Metro StationHere are two featured properties for sale.  Scroll down for a link to browse all listings or request to have a search set up for you.

Beautiful Updated Cape, also for rent, in a super convenient location near ample amenities and the new train station! Some of the great features include three bedrooms, two full baths, vaulted ceiling family room with sliders, renovated kitchen, covered deck, central air, fully fenced and landscaped back yard with newly expanded shed and double driveways. Opportunity knocks!

A rare moment is here for you. Introducing Beach Life. Have your custom home built by world class craftsmen on a spectacular near-third acre stretch of beach with mature trees and high dunes! Deep sandy beach and 51 feet of beach frontage at the coast’s curve offer expansive views of the entire shoreline. Dreamy vistas of changing light, tides and the iconic Penfield Light House never lose their magic. Other multi-million dollar new homes nearby add to the great value and good company. Your home will be finished on three levels with a spacious carport underneath for two cars plus extra multi-use space and plenty of expansion potential. One of the very deepest and highest sections of beach five minutes from town, restaurants and train, and an hour from Manhattan is where you will call home. Get ready for your new beach life to begin!

Photo Oct 30, 11 37 20 AM    Photo Oct 30, 11 47 19 AM

 845 FFBR - elevation- 10 - 21 - 14  Photo Oct 30, 12 55 20 PM

 

 

 

 

Search for your home here or submit a request below.   I’m here to help. 🙂

← Back

Thank you for your response. ✨


by Leave a comment

Quick Scoop on July’s Local CT Housing Markets

Word on the Street: Fairfield, Westport & Weston
2013 vs. 2014

House Clip Art

Just checking in with a quick report on the real estate markets in July before joining the masses and taking a little vacation-

We would expect the housing market to be seasonally slower in the months of July and August as people are in full summer mode and focused on enjoying the warm weather.  However, this July appeared to be slower than last July in Westport and Fairfield.  Weston was singing a different tune though-

In Fairfield, unit sales were down almost 43% from 122 to 70 last month.   The median (midpoint) sale price was also down 9% to $577,500.  The average time on market was up 9% to 97 days.   All this is good news for the buyers out there though since it affords them more bargaining power.    One measure that favored sellers was a 5% increase in the price per square foot from $290 to $305 of homes that sold.

Sales were also slower in Westport with a 6% reduction and 44 July closings.  The median sale price was $1,225,000, down almost 2% from last year.  Market time increased 37% to 101 days.  Yet the price per square foot increased 11% to $436.

Sellers take note: Weston rallied last month with numbers in your favor!  Unit sales were 24% higher this July with 31 compared to 25 last year. The median sale price was up 6% to $820,000.  Giving some leverage to buyers was market time up 40% to an average of 137 days and price per square foot down 3% to $257.

So that’s the quick scoop for now.  Check out the charts with more numbers and print this report following the link below.  I assume there will not be much change in pace next month, but I’m anticipating a rally in September and October when everyone works on making their moves before the holidays and cold weather take over.

Word on the Street Snapshot JULY 2014


by Leave a comment

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 Fairfield, Westport and Weston markets compared to last year, January through May.  If we compare the inventory, number of sales, prices 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.

← Back

Thank you for your response. ✨


by Leave a comment

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!

← Back

Thank you for your response. ✨


by Leave a comment

How’s the Winter 2014 Real Estate Market Fairfield in County CT?

We sure have been hit hard with winter extremes since the New Year with everything from sub-zero temperatures to multiple blizzards and some freezing rain mixed in for good measure! No doubt the weather has been keeping our spring real estate market at bay, but how did sales look in our neighborhood markets in January after the holidays?
Let’s take a look at a few measures across three towns, and see how they relate to last year. Comparing the number of homes on the market, total sales and the average market time in January, we see some promising numbers.  View or print charts here.
 
In Weston, Westport and Fairfield inventory of homes for sale was up between nine and twenty-two percent suggesting stronger seller confidence in the market this year.   Sales in fact, were way up in Weston (50%) and Fairfield (42%) compared to January 2013. Westport sales were down twenty-two percent, but there had been a big spike in the December sales.  The average days on market was way down (-40%) in Westport, though up a bit in Weston and Fairfield (5% and 12% respectively).
 
Overall, the increased inventory and sales in addition to average market time as low as 80 days in Westport, suggest to me that there is pent up demand on both the buy and sell sides of the market.   It would be great to see the market jump up to the pace noted in my post from last June.   I expect to see a flurry of activity in the housing market instead of snow as soon as Mother Nature decides to get the weather under control!
 
Image

← Back

Thank you for your response. ✨


by Leave a comment

Home Buyers & Sellers Unite!

When Mike called me to take a look at his house after seeing my name on a For Sale sign nearby, I was happy to oblige. After touring the house, I returned a few evenings later to meet with him and his wife Kagin to discuss their plans for moving to Florida and how we could work together to make this happen.   Within two weeks, Mike and Kagin were ready to put their house up for sale!

1000 Burroughs (69)

Hitting the market in pristine condition with fabulous photos and a price based on comparable sales- we had instant interest, and a lot of it!   Within the first week we had multiple offers including one at full price.    Mike and Kagin went with the offer with the best terms for them.

It’s a win-win for everyone when they can work together in a positive and productive way.   I truly enjoyed working with my clients to unite them in this successful sale!

Mike & Kagin 11-22-13       
If you would like a complimentary market valuation for your home or have a question or comment about this post, please use the form below.

← Back

Thank you for your response. ✨