Fairfield and Westport CT Real Estate Guide

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

Tag Archives: real estate


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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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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!
 
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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.

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Live in Downtown Fairfield- Commuter’s Dream Home!

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Live in Downtown Fairfield- Commuter's Dream Home!

Charm Central: 34 Glover Street, Fairfield, CT 06824
NEW PRICE: $499,000
MLS# 99039689


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Happy Seller Heads South!

Not a big fan of freezing winters, Joe had a dream that he thought was simple:  sell his condo on Madison Avenue in Bridgeport and move to Florida where life is sunny and warm year-round.

Joe after his closing!

Joe after his closing!

It sounded reasonable enough until he put his condo on the market and didn’t get the quick sale he was hoping for.  After trying to sell with four different agents over the course of three years with one deal falling through at the last minute, Joe was feeling quite discouraged and wondered if his plan would ever come to fruition.

Finally, the following summer, he summoned his spirits again and had his son come up from Florida to help him de-clutter.  Then he called me to come and see his place, and I gave him a list of staging tips that he put into play.  We went on the market and received a good amount of activity but were plagued by low-ball offers by investors and a distressed unit that posted for sale at a rock bottom price by a bank.

As the holidays approached, Joe agreed to withdraw from the market long enough to re-do his kitchen.  I referred a great contractor to him that was skilled and well priced.  Joe shopped around for some good deals on appliances, and viola!
2011-09-30 01.52.54      Joe's Condo AFTER

 

 

 

 

 

With a refreshed look, new kitchen and the New Year, Joe closed on his condo within three months and was off to his dream home in Florida with the weather to match!  Here’s what Joe had to say about it, “I will always be happy to give you the highest recommendation for your excellent customer service and professionalism. I definitely couldn’t have sold my condo without you.  The recommendation to upgrade my kitchen was a big factor.  There were so many condos on the market in Bridgeport, I thought I would never get out of there. But you sold my condo in such a short time frame.  You are a Realtor who cares and gives the best possible customer service one could expect, especially if the seller listens to you and takes your suggestions.  I couldn’t be happier now that I am in Florida.”

Take a look at the video to see Joe’s kitchen transition in action.

Feel free to comment below or request help preparing your home for the market.

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New Family Joins Fairfield’s Beach Area

The Fairfield Beach Area will soon be welcoming a very excited young family!
Relocating here from North Carolina, the wife is working in Wilton and the husband is the new branch manager for a bank on Black Rock Turnpike.  Only Ken was present for the closing yesterday while Jenn was off to Belgium on business, but they will be together again shortly with their two little ones and nearby relatives.

97 Cummings Ken at Closing

This happy family can’t wait to enjoy their gorgeous new home on Cummings Avenue and to meet their new neighbors this spring!  97 Cummings Ken at House


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Another Dream Comes True!

Tina had an exciting day today, because she closed on her long awaited condo in the Foxwood community in Milford, Connecticut.  Today was smooth sailing, but it was quite a journey to get here.

We had been looking for the perfect unit since last year.  It had to be on the first floor with plenty of space, two entrances, two bedrooms, a den, space to install full-size washer and dryer (vs.  smaller stacking ones)  and in good condition.  We thought we found it the first day when we looked at a nice For Sale By Owner.  But we got all the way to contract signing before finding out that this section of the complex did not allow hard wood floors to be installed- a deal-breaker for Tina.

So, we looked at several others that fell short of the requirements and then waited and waited for the right unit it come to the market.  Units came and went without anything fitting the bill.  I created custom postcards and mailed them to all the owners in qualifying units…  Nothing.

Mailer for Tina

Mailer for Tina

Then finally one day a few months ago, the ‘perfect’ unit hit the market, so we went for it.  We got it- the listing agent wrote in an email to me.   But after she told me our offer was accepted, a client of hers came in with a cash offer.  Ours was higher but still declined.  We didn’t get it!

So we waited, and I sent another mailing.

Finally, the absolute perfect unit came to the market.  It was like the one she lost, but a nice end unit with a park bench right out front.  This one was meant to be.

Tina was so excited she planned to have the entire unit renovated before she even closed on it.  She arranged to open up several walls, install hardwood and tile floors, redo the kitchen and change from her previous beach style to ‘country’!

The road was long, but the closing was short and and the reward was the perfect new home.  I think the rest will be history!

Here’s a note from Tina a few months later, “Hi Lin’,  I really love living here….I couldn’t be in a nicer spot.   Thank you for finding this home for me….I will always send you more clients when I can.”

Tina and her new Foxwood Condo

Tina and her new Foxwood Condo!


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A Great Meal and a Market Update!

My husband and I earned a little ‘found’ time for a dinner out over the weekend when our nine year old daughter, Emerson, was invited to her friend’s house at the beach.  We went to Martel on the Post Road in Southport. My husband is a big fan of the Martel Meatloaf, but I have to say that the Trout Meuniere with haricots verts & white bean salad is absolutely delicious! I highly recommend it, especially if you want to eat healthy. Of course, if you’re looking for something rich and decadent, you must try their Cheese Fondue for Two!   Martel Logo

So, what’s happening in Fairfield’s housing market? We currently have 507 single family homes and 91 condos on the market. With 201 sales in the past six months, this equates to an average of 34 sales per month and a 15-month supply of single family homes for sale. A six-month supply indicates a balanced market and less than this indicates a seller’s market, so we are still clearly in a strong buyer’s market.

Nine homes have sold in June so far, ranging in price from $197,500 for a home on Rakoczy Avenue to $750,000 for a home on Collingwood. This puts the average sale price this month so far at $478K. Looking ahead, 105 more homes are under contract and ready to close! Forty of these are priced up to $500K, 19 are in the $500K-$700K range, 21 are in the $700K-$900K range, eight are listed between $900K and $1mil, 14 are in the $1mil-$2mil range and three are listed above $2mil. In addition, 49 homes are under binder with an accepted offer, including a property on Senate Lane listed for $5mil.

So we should expect to see an increase in sales ranging through all the price points in the next month or so.

Is there something specific you are wondering about in Fairfield’s real estate market? Enter a comment below with your question, and I’ll do my best to respond in my next blog post!

Originally Posted on Fairfield Patch June 23, 2011 at 1:11 amMartel Logo Halloween Party 2008 012