Linda Raymond Real Estate Blog, Fairfield, Westport & More

Fairfield & Westport Living- homes, fun stuff & more!


Leave a comment

🌷 Get a Leg Up on the Spring Market! πŸ‘

Hey there, homeowners! It’s your friendly neighborhood Realtor, and today, I’ve got some exciting news for all you Fairfield and Westport sellers out there.

There are 3 Reasons to get a leg up on the market this year!

Reason 1: Pent-up Demand πŸ“ˆ

As we step into the spring market, there’s pent-up demand from buyers who’ve been eagerly waiting for interest rates to drop. And guess what? They have!

Reason 2: Affordable Rates 🏠

Interest rates have dipped back into the 6% range, and there’s potential for more drops in 2024. Lower rates mean your home is more affordable for buyers, making it the perfect time to sell!

Reason 3: Increased Inventory Forecast πŸ“Š

Get this – Lawrence Yun, Chief Economist at NAR, predicts a 30% increase in national housing inventory this year. More options for buyers mean more competition for your home as a seller. This makes it a win-win to sell your house now!

So, whether it’s the economic trends, affordable rates, or the competition heating up, now’s the time to act! And hey, bonus point – the 2024 Farmer’s Almanac predicts an early spring! 🌷

Reach out to me, let’s chat about your plans, and get a leg up on your dream sale this season! πŸ’«

#FairfieldHomes

#WestportRealEstate

#SpringMarket

#RealEstateOpportunity

#HomeSellingTips

#AffordableHousing

#SpringForecast

#RealEstateGoals

#LawrenceYun

#HomeBuyers

#SellerSuccess

#MarketTrends

#DreamHome

#Homeownership

#SpringSelling

#HousingInventory

#GetALegUp

#EarlySpring

#HomeInvestment

#RealtorLife

#LindaRaymondRealtor

#William#RaveisSouthport

#WilliamRaveisRealEstate

#Yourcastlemymission 


1 Comment

When Do I Need a Buyer Agent & What Will They Do For Me?

If you are like many people looking for a new home you may wonder, when do I need to get a Realtor on board, and what will they do for me? In the current fast-paced market in which listings often arrive and disappear within days or weeks, it is important to be well prepared. You should get your agent on board within six months of when you want to be in your new home. This allows time for your agent to inform you of the process, set up your searches, understand what is most important to you and research properties of interest so that you are completely comfortable and ready to act when the home you love come along!

Securing a new home is one of the most monumental life changes you will make. Yet it is not something you do every day, so how would you know what you don’t know?

There are many components to the process that need to be managed including everything from honing in on your true priorities to tempering the emotions and personality types of all parties involved. There is property valuation and strategy when considering your offer terms, especially in the current competitive market of multiple offers. Your agent must work to bring everyone together to work as a team serving your best interests, including the two attorneys, the seller’s realtor, the lender, appraiser, contractors, town hall personnel, the sellers, and you. There is due diligence to conduct and there are pitfalls to avoid. There are laws, regulations, and legal forms. There are incremental deposits that need to be carefully handled. There is a strict timeline that could result in the loss of your deposit if not adhered to and managed. There are a wide range of inspection items to consider and negotiate. And before any of this, there is the process of considering all your lifestyle factors and priorities when choosing a new location, neighborhood and home. 

So my service for you falls under the categories of understanding your wants and needs, providing key information so that you feel comfortable in making informed decisions, and managing the communications, negotiations and relationships to ensure the smoothest possible experience for you.

Here are 50 things I do for my buyer clients.

  1. #RealEstateSuccess
  2. #HomeBuyerGuide
  3. #RealtorServices
  4. #HomeBuyingTips
  5. #RealEstateValue
  6. #BuyWithConfidence
  7. #RealtorSupport
  8. #BeyondFourWalls
  9. #SeamlessTransactions
  10. #HomeBuyersJourney
  11. #RealEstateInsider
  12. #HomeBuyingExperience
  13. #RealtorExcellence
  14. #InformedDecisions
  15. #SmoothTransactions


Leave a comment

When Will Mortgage Rates Go Down?

Dreaming of your new home and wondering when mortgage rates will go down? Amidst the excitement of buying or selling a home, there’s one burning question on everyone’s mind: where are the rates going? For both buyers and sellers, the direction of interest rates is the compass guiding their real estate journey. Join us as we shed some light on the mystery of rate projections as well as a bit of perspective on where they are now. The decisions of aspiring homeowners and sellers navigating the dynamic housing market may be more a function of your known priorities than the rates themselves.


Everyone wants to know where rates are going!

The fact is that no one knows for sure, but here is a table provided by Keeping Current Matters that shows projections through the end of 2024.


Experts project rates to be in the mid-six percent range by the end of 2024.

What we see here is a consensus among Fannie May, Mortgage Bankers Association, and the National Association of Realtors that rates are likely to be in the mid-six percent range by the end of next year.

Current rates are still lower than they were in the last three decades.

One thing we do know is that rates in the seven-percent range are still lower than they were in the last three decades. This might not do much to change your monthly payment, but it does provide some perspective and illustrates that rates below four percent were actually an anomaly and are not likely to return.


What does this mean for you?

How does this affect home sellers and buyers? Should you make your move now? It depends on your situation, plans and priorities. Reach out, and let’s have a conversation.


Leave a comment

William Raveis Wins Inman Innovators Top Brokerage 2023

It’s a pleasure and an honor to work with William Raveis Real Estate, the best real estate company in the United States!

Since 1998, the Inman Innovator Awards have honored companies, individuals and new technology that increases productivity, efficiency and transparency for consumers and real estate professionals alike. Out of more than 150,000 real estate firms in the country, only 50 or so finalists will meet the set of criteria to qualify. This year’s slate of winners was announced live at Inman Connect Las Vegas on August 10, 2023. The highest honor of β€œTop Brokerage” was bestowed upon William Raveis, a title that is well deserved after 50 years in the real estate industry.

William Raveis The #1 Real Estate Company in the United States!

Why William Raveis is continually named #1 locally, nationally, and globally every year? Read more on the Raveis Blog!

If you want your moving plans to be guided by an agent who has the best resources in the country, just give me a call to discuss your plans.


Leave a comment

It’s Not Like 2008, Here’s Why

Are we going to face another “2008” after the the failure of Silicon Vally Bank (SVB)?

There are a number of key differences regarding the housing market, consumers, and the banking situation right now compared to that of 2008. Here are six.

  1. Inventory is low now, and it was not in 2008. The chart (right) from InfoSparks shows the longterm housing inventory trend and, specifically that here were 9 months of supply in February 2008 and 2 months of supply in February 2023!
  2. New construction levels are low now, almost half what they were in 2008. (see table below)
  3. Mortgage delinquency is low now and it was not in 2008.
  4. Foreclosure levels are minimal now, and they were not in 2008.
  5. Subprime loans are virtually non-existent now, but they were prevalent in 2008.
  6. Homeowner equity is high now, but was negative for many in 2008. (see CoreLogic statement below)

Now, the market, consumer credit scores, and homeowner equity are all much healthier than they were in 2008. Below is an additional summary of key variables from the National Association of Realtors.


What we do know is that home values appreciate in the longterm and have historically outpaced inflation.

What makes SVB different from the first bank that launched the domino downfall in 2008?

The Silicon Valley Bank is a fraction of the size of the other banks. For example, an article by Troy Palmquist published by Innman says that at the end of 2022, SVB had assets worth about $211 billion, whereas Bank of America had more than $3 trillion at that time. So the scope does not compare. Also, SVB and Signature Bank served a narrow niche within the banking sector compared to the majority of banks that are protected by being significantly more diversified. Most importantly, the most recent stress test implemented by the Federal Reserve demonstrated that major banks could survive both a deep recession and significant unemployment, neither of which are anticipated to be the case.

Should I commit to my plans and embrace the spring market?

Buying and selling your home is an emotional decision. But you now have some strong facts to support your move forward and an improved quality of life, especially if it’s a decision that’s taking you where you want to go! If you want to move forward with your plans, the graphs above show some longterm trends that can support your decision. Below are some resources to help put your plan into action.

How can I bridge the gap between buying and selling when “cash is king” and many markets are still very competitive for buyers?

In competitive markets such as Fairfield, Westport, Southport, and Rowayton, and Darien Connecticut as well as coveted vacation spots like Kennebunkport, Maine, there are still fast-paced sales and multiple-offer situations. Homes are still selling at or above the asking price, and many accepted offers are cash bids with no mortgage contingency.

William Raveis Real Estate offers solutions to get you where you want to go!

Raveis Purchase will enable you to unlock the equity in your current home and make a non-contingent offer on your new one.

Raveis CashBid will buy the home you want to sell and the home you want to buy so that you can accomplish an all-cash transaction and finance later.

So if you want to make a move and overcome some logistical challenges to doing so, reach out and let’s get the conversation started.


Leave a comment

Price is What You Pay. Value Is What You Get. -Warren Buffet

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!

  1. Price
  2. Proof of funds, pre-approval
  3. Timeline
  4. Possession
  5. Occupancy
  6. Deposit money
  7. Appraisal
  8. Financing
  9. Contingencies
  10. Deadlines
  11. Inspections
  12. Repairs, remediation, or credits
  13. Closing agency
  14. Closing costs
  15. Title search results
  16. Survey
  17. Permits
  18. Property lines
  19. Fences, trees, sheds
  20. Easements, wetlands
  21. Elevation certificate, elevation
  22. Personal property
  23. Insurance, property, flood
  24. Home warranty
  25. Other warranties- roof, mechanicals, builder
  26. Water systems
  27. Septic or sewer systems
  28. Utilities
  29. Prorations- oil, water, taxes
  30. System or service leases- solar, water heaters, pest treatment
  31. Assessments
  32. Associations
  33. Property disclosures
  34. Walk-through
  35. 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.


Leave a comment

Unlocking Your Dream Home: Secure Mortgage Pre-Approval Before Closing on Your Sale!

Photo of Linda leaving Jorge's office with great news!

Finally, the home you love just came on the market and you want to buy it.

But your existing house won’t be closing in time for you to make a competitive offer. In this market of tight inventory you need to be able to act quickly and come in with a complete and solid offer for the new home that you want to buy.

Did you know you can secure your mortgage pre-approval before you close on the sale of your home? Here’s a great tip you should know about!

View 60-second Instagram Reel or Take a look at the video.

If your dept-to-income ratio doesn’t allow for you to carry two houses, but you have an accepted offer for the sale of your house, this could be good news for you!

  1. Have your downpayment ready.
  2. Get the contingency-free loan commitment letter from the buyers for your house.

If the buyer for your house is financing and will give you their contingency-free loan commitment letter, you may be able to get your mortgage pre-approval to buy before you close on your sale.

With your buyer’s contingent-free loan commitment letter, your lender does not have to include your existing mortgage debt when figuring your debt-to-income ratio for your new loan. All you need is your down payment, and you are good to go.

Visit Linda and Jorge for more info!


Leave a comment

SOLD & ACCEPTED OFFERS- Fairfield Market Bulletin March 2022

The numbers are in for January and February, and we are heading into the spring market!

The March bulletin will be hitting the mailboxes soon for everyone on my select mailing list. If you would like to receive future reports in the mail, send me a request in the form below with your mailing address. In the meantime, browse the e-bulletin to find out what’s up, what’s down, and where things are likely heading.

For the details of sold and accepted offers in the neighborhood of interest to you, send a message in the form below with your area of interest, and I will ensure you get the scoop!

CLICK THE COVER BELOW TO OPEN THE BULLETIN:

If you are wondering where people are going after selling their homes now during this time of low inventory levels, take a look at some of their plans.

Submit your neighborhood(s) of interest and email address below for the details on sold and accepted offers. Include your mailing address if you would also like to receive a large hard copy of future bulletins in your mailbox.


6 Comments

If I Sell My Home, Where Will I Go?

Like the majority of homeowners right now, you are sitting tight even though you would prefer to be living somewhere else. Yet your current home no longer meets your needs or desires. You have hopes and dreams about a new home but, you don’t see a path for how to make it happen.

What if a path and a plan could be created?

My clients have done a variety of things. I’ll share a few of their stories to get the juices flowing! Those serious about finding their new home have been able to find it. Some bought a new home before they sold. Some found their next home during the process of selling their current one. Others sold their house and created an interim plan of temporary housing and storage, (okay, not convenient, but if you ask them now, they will tell you it was worth it 100 times over!). And my most recent seller cashed out and followed her long-time dream of traveling overseas for six months before returning to shop for her new home. So there are many ideas, options, and solutions.

Everyone who’s selling knows exactly where they’re going, right?

Here’s an interesting observation I made after going on the broker tour in Fairfield last week. Click the image below to listen!

Click to hear my surprise discovery.

Okay, I might have some options on where to go, but there are more things to consider.

I know there are concerns about interest rates, high prices, and inflation. Take a look at this post for some additional insights from the experts. Once you feel you are ready to make a purchase, here are the key steps to consider.

I am prepared to discuss your plans and how to get you there. Call me today for a no-obligation consultation.


3 Comments

Would They Ever Leave The Place Where They Grew Up?

They Grew Up There and Raised Their Kids There

For 17 years, our next door neighbors along with their two young daughters and their big dog were a steady presence on the street. We had seen Kelly’s parents come and visit fairly often and become familiar faces. We didn’t know until some time later, that this had been her parent’s house, and Kelly had grown up there.

They had made many improvements to the house over time- new kitchen, windows and doors, new siding, new covered front porch, new stone patio, etc.  It never occurred to us that they might move some day. They never talked about the house not suiting their needs anymore.

We joined the neighborhood in 2004 just before I had become a Realtor after experiencing first-hand how emotionally charged making a move and buying a home could be- especially in a hot seller’s market! Steve and Kelly knew I was a Realtor.

But it seemed to come out of the blue the day Kelly called me and told me she had β€œnever planned to stay in that little house so long” and that they wanted to make a move right away! Even more surprisingly though was that their oldest daughter was in college and the younger one was a senior in high school, and yet she said they wanted a bigger and newer home with a pool.

They β€œhit a wall” with the home they’d been in, and they couldn’t stand it another minute! 

It was time to move on and get into that dream home that Kelly had planned to be in years ago but never got around to! They said that even though the girls wouldn’t be there all the time, they loved to have family visit, and they have a very big family. 

Once she and Steve made that decision, it seemed like nothing about their current house worked for them any more. The four of them all shared one full bath, the only office they had was tiny, there was just the living room for company to hang out in, there was no AC, no garage, and the interior needed updating because most of the improvements they had done were on the outside.

With their timeline tight, I quickly crafted a plan to get them into their dream home within the shortest timeframe possible.

It was the end of March 2020, and the pandemic was just beginning to ramp up. Steve and Kelly wanted to purchase a home (with a mortgage) before selling their current home. The plan was to find their dream home and move in, so they wouldn’t have to worry about timing or dealing with showing their old house.

If they had needed to get the equity out of their home first, they could have used the new CashBid program offered by William Raveis.

We got the pre-approval in place, and I set up a search to match the very specific criteria they were looking for: more space, more property, updated or new condition, a pool or room for a pool, in the same town, and possibly in the same neighborhood. We reviewed the options.

We looked at two top contenders, and they loved the second one, so we submitted a competitive offer right away. However, it had not been disclosed to us that the house had been tied up with seller issues, so the search continued. Very soon afterward, we looked at a gorgeous home that checked all the boxes and was even closer to the beach! That was the one, and the purchase went very smoothly.

Now happily settled into their exciting new home it was time to get the old one sold!

We did some minor staging, had the photos taken, and hit the market. Immediately there was interest from 10 prospects. Some were not local and couldn’t get there right away, some still had to sell their home before they could buy.  

But one family had been looking for a long time, loved the neighborhood, and had a May deadline to move. They came to see the house but were unsure about it because they would need to add a master bath and finish the basement. They took a day to think it over and then made an offer. The negotiations went well, and we arrived at a deal. It turned out that this was the first buyer to see the house the first day it came on market!

Of course it couldn’t have gone that smoothly, right? Sure enough, all went well until the inspection. The inspector found an old pipe repair in the basement and decided to investigate further. He fed a camera through the pipe and discovered an underground sewer line repair that was not up to code. 

This issue was unexpected, but in real estate, that’s what happens sometimes. It’s important to go in knowing that roadblocks occur. Nonetheless, I worked closely with the buyer’s agent to solve the unexpected issue so that we could reach the end goal for our clients. Steve and Kelly had the pipe repaired and the process was back on track. We sailed through a smooth final walk-through and closing.

One and Done! We sold their house in one day for 97% of asking.

They grew up there 🏑 and then raised their own kids β›ΉοΈβ€β™€οΈπŸ€ΎπŸΏβ€β™‚οΈ there. Generations of fond memories were there. And yet, one day, there was a driving force 🌬 to move on. Stronger than the ties that kept them there was the urge for the excitement πŸ’₯ of a new chapter, a new space, new memories, a new castle 🏰, a new home.

Do you have a story you can share in the comments? Are you ready for your next chapter πŸ“– ? Let’s have a conversation, 203-912-4440.

How did I get Steve and Kelly out of their childhood home and into their dream home in record time?

With great care and understanding, a clear plan and strategy, creativity, technology, and abundant cutting-edge resources and solutions on hand, I guided them through the plan. I have managed many home sales for my clients in the last 16 years and was happy to include Steve and Kelly among them.

Selling a house is a big deal. It can feel daunting when you’re ready to let go of the family property and move to a home that’s more suitable for your current lifestyle. There are so many moving parts and potential roadblocks you can face on this journey, and you want to be prepared.

That’s why you deserve the guidance of a professional that can help you maximize your equity and sell in the least amount of time. A professional who can help you make informed decisions and avoid the common pitfalls of buying and selling. It’s my job to make this happen.

Thinking of selling in the next 12 months?

Call today to get started ==> 203-912-4440

We’ll discuss your goals and timeline, briefly cover how I work with clients, and if we seem like a match, we’ll discuss next steps from there.