Linda Raymond Real Estate Blog, Fairfield, Westport & More

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


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After a Very Long Home Search, Number 62 Wins!

After an exhaustive home search, my clients finally came upon the home of their dreams in Rowayton and put in an offer. But by that time, the pandemic was off to a strong start and so was the competition in the market for home buyers.

We had closed many weeks earlier on the sale of their home in Southport and had been targeting Darien as they hunkered down in their temporary residence in a hotel. However, after losing a lovely home to multiple offers, nothing seemed to stack up to the benchmark my clients now had in their minds. Or nothing lasted on the market long enough for them to see with their busy work schedules. Or nothing matched the price they felt it was worth. After months of looking in Darien, we renewed focus on Greenwich… and then Rowayton.

A day in the life of a Realtor in Rowayton….

It turns out that this was the special day when the one of a kind gem they had been searching for was found and their offer was accepted. After touring dozens of homes across three towns, this historic antique near the Long Island Sound, previously a sea captain’s home, was about to begin a new chapter. This vintage home was number 62 of their home search, but for them, it was new and exciting, and number one!

 

Pop Quiz!


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End of Summer Real Estate Pop Quiz!

Take the Pop Quiz about the local single-family housing markets at the end of the summer in Westport and Fairfield. Then check your answers below and watch my video that explains the numbers also spotlights our October opportunities!

Westport

1. What was the top selling price range in August and September?

A. $1.4 m – $1.5 m

B. $1.5 m – $1.6 m

C. $2 m  – $2.249 m

2. Which price range currently offers the most listings for sale?

A. $1.1 m – $1.2 m

B. $2.5 m – $3.5 m

C. $5 m – $10 m

Fairfield

3. What was the top selling price range in August and September?

A. $500K – $550K

B. $600K – $650K (3rd place)

C. $700K – $750K (2nd place)

4. Which price range currently offers the most listings for sale?

A. $400K – $500K = 22 active listings

B. $750 – 850K  (17 homes for sale)

C. $1.1 m – $1.3 m (13 homes for sale)

ANSWERS

Westport
1. A
(followed by B & C)
2. B
(with 36, C with 16, and A with 10 homes for sale)

Fairfield
3. A
(followed by C & B)
4. A
(with 22, B with 17, C with 13 homes for sale)

SmartMLS 10/9/2020

Please share your comments or questions below, and I will respond within one day.


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Fairfield Beach in Review: August 2020

Market Activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

Active Beach Listings

Fairfield Beach Road

  • 12 single-family homes are for sale.
  • Four are new construction listings priced from $1,500,000 to $3,200,000. Three are complete and sit across the street from the water. Two are under construction, one on the creek, and one on the beach with a creekside parcel and a dock.
  • Seven of the listings are on direct beachfront and priced from $1,700,000 to $5 million.  Two of these have additional creekside property, and one also has a dock on the creek.
  • There are three creek-front listings priced from $2 million for a home with a dock to $2,570,000 for a new home under construction.

Pine Creek Ave

  • There is one waterfront property for sale for $2,495,000.

Old Dam Road

  • There is one property for sale on about a third of an acre that is not on the waterfront for $875,000.

What Sold, Mid-June to Mid-August?

Sold & accepted offers since mid-June

  • Four single-family homes sold since mid-June including three on Fairfield Beach Road, and one on Old Dam Road.  Two were on the beachfront and two on the waterway.
  • One condo across the street from the water sold on Fairfield Beach Road for $715,000.
  • Single-family sale prices ranged from $700,000 for a home not on the water on Old Dam Road to $3 million for beachfront renovation/new construction on Fairfield Beach Road.

What About Accepted Offers?

  • There are currently two homes under contract, a three-years-young beachfront home on Fairfield Beach Road listed for $2,795,000 and a beachfront condo on Pine Creek Avenue on the market for $1,135,000. 
  • Three homes on the beach have accepted offers with list prices ranging from $1,695,000 to $2,395,000.

1690 Fairfield Beach Rd - Sold

There have been nine sales so far this year through August 15 compared to 14 last year during this timeframe, however the five accepted offers should catch us up. One improvement we have seen this year is the beach homes selling closer to the asking price. On average the nine sales this year closed at 96 percent of the asking price compared to 94% last year.

Still, this year’s beach market has been a bit slow compared to other blazing markets driven by the pandemic. For example, in the entire Fairfield Beach Area (including homes closer to town), there were 95 sales year to date that sold for an average of 97 percent of asking compared to 78 sales YTD in 2019 selling on average for 96 percent of asking.

So the word on the street is that we may be in the dog days of summer at the beachfront, but the market overall is still hot!

 If you have any questions about this market and what it can mean for you, please reach out to me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.  I’m here to help!

 


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Fairfield Beach in Review: June 2020

Market Activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?

Fairfield Beach Road

  • 13 single-family homes are for sale.
  • Four are new construction listings priced from $1,500,000 to $3,200,000. Two are complete and sit across the street from the water. Two are under construction, one on the creek, and one on the beach with a creekside parcel and a dock.
  • Eight of the listings are on direct beachfront and priced from $1,350,000 to $3,775,000.  Five of these have additional creekside property, and two also have a dock on the creek.
  • Two listings are on the creek priced at $2,195,000 for a home with a dock, and $2,269,000 for a new home under construction.

Pine Creek Ave

  • There is one property for sale, a penthouse condo at Kensie Point, 10 Pine Creek Avenue, 501S for $1,135,000.

Old Dam Road

  • There is one property for sale on a 0.72-acre creekside parcel with a dock listed for $1,980,000.

What Sold So Far in 2020?

  • Four single-family homes sold in April and May including one on Fairfield Beach Road, one on Pine Creek Avenue, and two on Old Dam Road.
  • Sale prices ranged from $580,000 for a home off the water at 57 Pine Creek Avenue to $1,375,000 for a home at 2087 Fairfield Beach Road.

What About Accepted Offers?

  • There are currently two homes under contract, (my listing), a creekside home with a dock at 1690 Fairfield Beach Road listed for $1,095,000 and a newly raised home that is currently under construction on the beach at 1092 Fairfield Beach Road listed for $3,000,000. 
  • Two non-waterfront properties have accepted offers. One condo on Fairfield Beach Road and one house on Old Dam Road, listed for $729,000 and $700,000 respectively.

Sales activity on the waterfront this year has some catching up to do to match 2019 activity. Last year there were seven sales in February through May with sale prices ranging from $980,000 on Old Dam Road to $2,455,000 for (my listing), a large home on the beach with a creekside garage and finished space above it.  The late start of this year’s beach market is not surprising given the onset of the pandemic. However, the real estate market overall has seen an influx of activity from low interest rates and swarms of people leaving New York City, so the word on the street is that ‘summer is the new spring‘, and many anticipate a busy beach market ahead!

 If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.

 


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Summer 2020: 5 Things You Should Know About the Real Estate Market Right Now!

It’s a very dynamic time right now in real estate and a great time for anyone interested to jump into the action.  Here are five things you should know.

  1. Inventory Is Low! – There are fewer homes for sale resulting in a limited choice for buyers right now which creates competition for the homes on the market and can push up the selling price. May Inventory is Down!Look at the difference in the number of homes for sale in Fairfield and Westport in May compared to May of 2019! The marketplace is in need of more homes for sale. This creates a huge opportunity for sellers!
  2. Interest Rates are at an All Time Low!Mortgage Rates At an All Time Low!Although there has been daily fluctuation in interest rates, they have remained extremely attractive.  In fact, this week the rate for a conforming loan up to $510,400 has dipped to 2.85% for purchasers with high credit scores and a twenty percent downpayment. So there’s an excellent opportunity for buyers to finance a purchase at an amazingly low rate. This is great news for sellers as well because these low rates make their homes more affordable! Click the image from your phone and download the mortgage app!
  3. Summer is the New Spring! Summer is the New Spring!The real estate marketplace is very busy right now for a few key reasons. Realtors and everyone else in the industry have adapted to working in safe mode, there is pent up demand from the initial pandemic slowdown, and it’s a great time to buy and sell! If you are thinking of buying a home and want to take advantage of the low interest rates and increased home affordability, reach out to me so I can help you get that perfect new home.  Sellers, take note of the sample prep list above and the new Raveis Refresh program that’s here to help you with it. Reach out to me, and I will help you to make the process seamless!
  4. Raveis Refresh Is Here for You!

    Linda Raymond Explains Raveis Refresh

    Quick Video explaining Raveis Refresh

    If you have thought about selling but feel overwhelmed by what needs to happen to get your house ready, fear not! Raveis Refresh is a new service that is here to provide you with nearly anything you need, from help packing, to staging, painting, kitchen or bathroom renovations, and repairs, small to large.  The cost is completely deferred until closing, so no worries about that either.

  5. Real Estate is Expected to Drive Economic Recovery! Did you know that a recent study by the National association of Realtors indicates that the sale of just one home in the US results in an economic boost of $88,416?  Because of this, many experts are predicting real estate to lead to the country’s economic recovery.

Economic Impact of One Home Sale - NAR

So there are exciting opportunities for everyone right now, and you can even boost the economy when you make a move to help yourself.  Reach out to me anytime so I can help you with your next steps.

 

 

 


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Beach in Review: Fairfield 2019 into 2020!

Market activity on
Fairfield Beach Road –  Pine Creek Avenue – Old Dam Road

What’s On the Market?


On the Market: 1690 Fairfield Beach Road

Fairfield Beach Road

  • 10 single-family homes are for sale.
  • Three are new construction listings priced from $1,900,000 to $3,200,000. One is nearing completion and sits across the street from the water. Two are proposed new construction on direct beachfront.
  • There are two listings on the creek with a floating dock, 1690 and 1522 Fairfield Beach Road, priced at $1,150,000, and $2,350,000 respectively.
  • Seven of the 10 listings are on direct beachfront and priced from $1,699,000 and $3,775,000.

Pine Creek Ave

  • There is one property for sale at 57 Pine Creek Avenue for $599,000.

Old Dam Road

  • There are three properties for sale on the creek with a dock with prices ranging from $649,000 to $1,099,000.

Source: SmartMLS Updated 2/12/2020

What Sold in 2019?

  • 20 single-family homes sold including 15 on Fairfield Beach Road, four on Pine Creek Avenue, and one on Old Dam Road.
  • The highest sale price was $2,900,000 on Pine Creek and the lowest was $549,000 for an antique cottage on Fairfield Beach Road.
  • Two condominiums sold, one in the Burr Court complex on Fairfield Beach Road, and one at Kensie Point on Pine Creek Avenue.
  • There is currently one home under contract on Fairfield Beach Road listed for $3,000,000. 

The 2019 waterfront market enjoyed a higher median sale price of $1,527,500 compared to $1,460,000 in 2018. Twenty single-family homes sold in both 2019 and 2018, and there was one condominium sale in 2018 and two in 2019.  As we begin 2020 with low interest rates, a nice selection of active beach listings, and one home already under contract, I’m optimistic for a great year ahead.  If you would like to discuss the value of your property in this market and how I would market it for you, please contact me at 203.912.4440, Linda.Raymond@raveis.com , or using the form below.

Linda Raymond at Penfield Beach
2020 should be great, and I can’t wait!

 


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How’s the Spring Housing Market Doing this Year, 2018?

The 2018 spring real estate market has been hot so far!  I have been busy helping people sell properties, search properties, and make their moves.  I’m ready to help you and your friends too.   Let’s connect on social!

Facebook.com/LindaRaymondRealEstate

LinkedIn

Instagram

I also invite you to click the graphic below to visit my website and learn more.

What have I been up to this spring?

Click Image to Visit My Website and Learn More

Now is the time to stay abreast of the housing market in your Connecticut towns of interest. You can do this by subscribing to the concise monthly housing newsletter pictured below as well as by setting up a property search or mortgage rate watch for yourself.  Click the image to view the selections, and opt-in!

Preview of Local Housing Newsletter

Click Image for Free Newsletter and Home Search Options

As always, feel free to reach out with any real estate questions or comments you may have. Call/text me any time at 203.912.4440 or submit your note below.  Happy Spring!


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Hiking Trails, Water Park, Lake Mohegan- Take Tours!

One of the many super amenities in the town of Fairfield is Lake Mohegan and all the great stuff right around it.  Take tours around the park with our friendly Portuguese Water Dog, Splash.  He will preview some of the fun for you, and then you should come and see for yourself!

The park is open for year-round enjoyment.

Splash in for a swim!There are short and long hiking trails offering gorgeous natural scenery and great exercise for both you and your dogs. The long trail goes all around the lake and takes about an hour to complete.  There are many dramatic views along the way including a deep stream where dogs can jump in from the rocks above.
Splash jumps from a rockThe terrain varies from level to steep and smooth to rocky with exposed tree roots, so don’t go in your flip-flops!

People watching Splash Jump

The short trail doesn’t go as far into the woods and more or less follows the edge of the lake.  It leads to a wonderfully entertaining swimming beach for dogs.
Whether you come with a dog or not, just standing there and watching the action will ensure you witness an upbeat social dynamic among our four-legged friends!

During the summer, the official public swimming beach is open, complete with lifeguard, sandy beach, and marked off swimming areas with ropes at different depths.  Lake Mohegan SummerThere are picnic tables, swings, a snack bar, and restrooms. For the little ones, there is also a water park area to supplement the beach.  It’s an exciting fountain playground with multiple intermittent water-sprays that are sure to delight and surprise its guests.

Splash on trail in winter

The lake and surrounding area comprise 170.4 acres managed by Fairfield’s Conservation Commission and the Parks and Recreation department. Lake access and the parking entrance are at 960 Morehouse Highway.  The park is easily accessed from exit 44 off the Merritt Parkway. Parking is free, and there is a small entry fee for the swimming beach in the summer.

 

Looking to move into this area? Check out another nearby Neighborhood Secret, the Lake Hills Association! Click the next link to view a lovely home on the market just around the corner from the Lake Mohegan neighborhood at 345 Steiner Street.  Or send an inquiry in the form below for more information about the lake, more Fairfield amenities or other homes for sale nearby!

345 Steiner Street, Fairfield

Cul-de-Sac Charmer! Click image for video

 

Splash Photos Courtesy of Karen Kallins

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Neighborhood Safety Tips for Open Houses

We all love open houses.  Open house events have many virtues, but what you may not know is that they also come with some risk.

Open houses offer the perfect chance for buyers to start looking for a new home and getting a feel for what’s available.  Open houses help sellers gain exposure for their property in the marketplace.  And they are an opportunity for buyers and sellers to meet Realtors they may want to work with for their next move.

But there is a risk.  While promoting the property and the open house event, Realtors are also promoting the fact that they will be alone in a house at a specific address, date and time.  This leaves an opportunity for people who may have ulterior motives.  Some people visit open houses with the intent of theft of valuables or prescription medications. Others may have assault in mind.

Open House Safety

There are educational programs for Realtors to help them prevent potential dangers and know what to do if the unthinkable were to happen.  The photo shows the Fairfield police captain and an officer delivering a training session to agents at the William Raveis Real Estate office in Southport.  Some of the information pertains only to the person hosting the event, but there are important open house safety tips that guests and neighborhood residents should be aware of.

Most of us would agree that it’s important for everyone to contribute to a safe neighborhood.  Open houses are an integral part of neighborhood activities.  So we all need to take watch, especially during these community events.  Please keep the following safety tips from the police in mind.

 

  1. First and foremost is to be aware of your surroundings.   As a neighbor, you may see open house signs quite often. Try to be aware of the activity during the open house near you.  Does it seem typical?
  2. Does anything seem “not normal”?  If something stands out to you as out of the ordinary, take notice.  Are there too many people in that car?  Did the car park much further away from the open house than needed?  Does something seem odd? Not normal?
  3. Trust your gut.  Whether you are participating in an open house event or are a neighbor observing from across the street, if something just doesn’t feel right, it most likely is not.  If you assume wrong and err on the side of cautiousness, no harm is done, right?
  4. Take actionIt’s best to park on the street when you attend an open house if possible so that you won’t be blocked in. If you are in an open house and don’t feel safe, try to exit right away.  Go outside, call 911 and immediately provide the address.  If you are a neighbor and notice that something is not right, call 911, or if you feel it is not urgent, call the police and ask them to drive by.  And last, but not least, if you see a frightened Realtor heading toward your house, please let them in!

Open House, Welcome!

We can all work together to keep our neighborhoods and our open houses safe and enjoyable.  For more information on this topic or to discuss your moving plans, please send a note using the form below.

 

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Get a Realtor on Board!


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Home Buying Tips In A Tight Market – What can a buyer can do to combat tight inventory?

If you are a home buyer and don’t see many options during your initial search online, make sure you get a Realtor on board to help you.  Get a Realtor on Board!

Even though inventory may be low and declining, there are at least three key actions your agent can take for you.  Make sure your agent knows what you are looking for, the location you want and your ideal timing.

  1. Armed with this insight, the first thing your agent will do is set up a search for you in the MLS. This allows other agents to conduct a ‘reverse search’ for your wish list items that could match a new listing they plan to put on the market.  They can call your agent who will then be among the first to know about the new listing that could be perfect for you!
  2. The next action your Realtor can take is to send an email to fellow agents in the offices around the town where you are looking that asks if they have a possible match coming to the market.  This can encourage sellers to expedite their plans and make their property available sooner than they had originally planned.  It also gets you first dibs on these homes!

Sample letter to homeowners

3. Last, but not least, your agent can write a letter or design a postcard describing your dream home and mail it directly to the homeowners on your favorite street or in the area you are focused on.

 

Sample Postcard

 

 

 

If you are a seller dealing with buyers that are circling and taking no action or facing a complete lack of buyers altogether, there are key action steps you can take too.

So don’t give into a slowing market, surge ahead, get the market to work for you, and make your move!

For questions or help in this market, send me a note using the form below.