See the clip!
Testimonial Tuesday! Nothing means more to me than making my clients happy 🤗! This card and thoughtful gift came from clients who I secured a rental 🏡 for after meeting with them only twice! 😍
Get ready Fairfield sellers, these lovely clients will be buyers next year!
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#testimonialtuesday
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#yourcastlemymission
In the dynamic world of real estate, interest rates hold a significant sway over homebuyers’ decisions. Likewise, rates have an impact on homeowners’ ability to sell. As memories of the desirable 2.85% interest rate linger, the current market fluctuations have left potential homeowners pondering their next move. Of course, the unspoken value proposition in all of this is the impact that ‘home’ has on your lifestyle and quality of life. Each person needs to weigh how much they value their lifestyle relative to what they are willing to invest in a new home. In this discussion, we’ll delve into some strategic approaches that can help you navigate this uncertainty while awaiting the (unlikely) return of the coveted 2.85% interest rate.
1. Exploring Adjustable Rate Mortgages (ARMs) for Lower Rates: Consider opting for an Adjustable Rate Mortgage (ARM) in a higher interest rate climate. ARMs often begin with a lower rate than fixed-rate mortgages, potentially offering more affordable initial payments. As interest rates are expected to fluctuate, ARMs can be a prudent choice if you anticipate rates to decrease in the future. It’s crucial to understand the terms and associated risks of ARMs before making a decision.
2. Seizing Opportunity: Buying Now and Refinancing for Lower Rates: Rather than endlessly waiting for the ideal 2.85% rate, consider purchasing a home now and exploring refinancing opportunities later. By securing a home at current rates, you can build equity and enjoy the benefits of homeownership. Keep a vigilant eye on market trends to identify the optimal time for refinancing to secure a more favorable rate.
3. Negotiating Seller Concessions for Reduced Costs: Leverage negotiation skills when making an offer on a home by requesting a seller concession. This concession can be used to buy down the interest rate or cover closing costs. Keep in mind, that sellers typically have more leverage than buyers in the current market, but if a home has been lingering on the market longer than the average market time, the homeowner might be willing to work with you for a win-win agreement. This approach provides a means to mitigate the impact of higher interest rates, enhancing short-term affordability and financial flexibility.
4. Diversifying Investment Strategies: Exploring Real Estate Investment: For those hesitant about primary homeownership due to interest rates, diversifying into real estate investment can be an attractive alternative. Options like rental properties and real estate investment trusts (REITs) allow you to benefit from market dynamics while potentially bolstering your investment portfolio. Thorough research is essential to navigate each avenue’s nuances and risks.
5. Seeking Expert Guidance: Partnering with Financial Professionals: To effectively navigate the intricate interplay of interest rates and real estate, consult financial advisors, mortgage experts, and real estate professionals. Their insights and tailored advice can help you make informed decisions aligned with your financial goals and market projections.
Conclusion: In the pursuit of the elusive 2.85% interest rate, remember that the real estate market’s complexity extends beyond rates alone. By exploring ARM options, capitalizing on current opportunities and planning for future refinancing, negotiating for seller concessions, and diversifying investment strategies, you can confidently navigate today’s real estate landscape. Stay informed, seek professional counsel, and make choices tailored to your financial situation and aspirations.
Need to getaway? Bridging the gap between buying and selling? Corporate travel? Summer by the shore?
Meet all your needs here and enjoy fun in the sun in this adorable cottage nestled on the Pine Creek waterway with views of the Long Island Sound from every room! Featuring great natural light, vaulted ceilings in all bedrooms, and a private balcony in the primary bedroom, this home and its chic beach decor will make your heart soar.
Jump right into the lifestyle- stroll down to the beach, gaze out at the creek and surrounding nature, fire up the gas grill on your private garden patio, play in the private yard, or relax and enjoy the water views and sea breezes from indoors. Invite your guests with ample space for them to park.
When you’re ready to venture out, the options are endless downtown just five minutes away with numerous cafes and boutiques, an entire Sportsplex, the Fairfield Theater Company, Community Theater, and the train to NYC! A ten minute ride also adds all the Westport restaurants and shops.
You deserve the best lifestyle this year, so get started and do it here! Reach out on the form below for more information or to request a tour.
Yes, definitely reach for the hot chocolate! But first make sure you are proactive about protecting your pipes, especially those that are most vulnerable to freezing. Think about your exterior pipes, pool plumbing and any uninsulated pipes.
Our regional insurance expert, Robert Reade of William Raveis Insurance just sent out the important bulletin below that I wanted to share it with you, especially if this is the first winter you are in a new home or have a new pool.
Good Afternoon, With the temps dropping here in CT this weekend to -35 degrees with the wind chill in some areas I thought it would be good to send a reminder on how to prevent frozen pipes.
Homeowners everywhere in the Northeast need to consider the risks of frozen pipes in their homes. Water damage and freezing claims were the second-most frequent type of claims filed in the United States between 2016 and 2020.
Water damage and freezing claims were the second-most frequent type of claims filed in the United States between 2016 and 2020.
Homeowners who file these claims lose an average of $11,650. About one in 62 insured homes make a claim related to water damage or freezing each year.
Though these are troubling statistics, you can avoid frozen pipes and water damage claims by learning how pipes freeze, taking preventative action, and investing in some tools.
You can avoid frozen pipes and water damage claims by learning how pipes freeze, taking preventative action, and investing in some tools.
No matter where you live, these four types of pipes tend to be the most vulnerable to freezing:
There are other areas in homes that are susceptible to freezing, as well. The connectors and hoses on washing machines, dishwashers, and water heaters are vulnerable to freezing as they can become brittle and break. Sinks and showers also pose potential hazards.
Outside, spigots, sprinkler systems, and swimming pool lines might not be as well insulated as indoor plumbing and could be the first points to collapse during a hard freeze.
How to prepare your pipes for colder weather:
There are products out there to help prevent frozen pipes and protect pipes against bursting. The Resideo Wi-Fi Leak & Freeze Detector can be purchased on Amazon for only $80. It can sense your homes moisture, temperature and humidity changes. It’s an early warning system when weather changes and pipes are in danger of freezing. There are many other products out there that can help aid in preventing substantial damage from burst pipes, such as pipe heating cables for vulnerable pipes, insulated pipe tape, outdoor faucet/spigot covers, just to name a few.
If the pipes freeze, it’s tempting to head to the nearest hotel for some running water, but don’t be hasty. Follow these steps to keep a freeze from becoming a disaster:
If a pipe bursts before you can thaw it, immediately shut off your water to prevent a flood. Mop up any mess you can reach and contact a plumber. Once the plumber assesses the damage, get started on an insurance claim.
Be safe and stay warm! Let me know if you have any questions, 860-690-5052.
Robert
Robert S Reade CPRIA, ANFI, LUTCF, MAOL
William Raveis Insurance
CT, NY, FL, MA, RI, VT, NJ, ME, PA, AZ
860-690-5052 – Cell
You may not be aware of this, but real estate agents make referrals all the time, and you should too! You will help your friend and your REALTOR® when you do!
When I’m guiding you through your move, I don’t stop at the town line. I get you where you want to go.
Maybe you want to sell your Fairfield condo, move back west, and get a vacation condo in Saint Martin.
Perhaps you want to move from downtown Westport to a waterfront home an hour up the coast.
Or maybe you want to move out of Connecticut to New York or Florida.
When I help you make your big move, I work with you to get the top dollar and optimal terms for the sale of your Fairfield-Westport area home, and if your desired destination is beyond my direct service area, I refer you to an expert in the place you want to buy in. I oversee the process and ensure you are happy with your other agent. I coordinate timing and work together with the other parties to make the process as seamless and stress-free for you as possible.
Let me get you to your happy place.
I have helped many of my clients sell their homes and move locally or out of the area. With William Raveis, we have 140 offices with 4,400 agents in eight states (Connecticut, New York, Massachusetts, Rhode Island, Vermont, Maine, New Hampshire, and Florida). We are also proud to partner with the invitation-only Leading Real Estate Companies of the World global network spanning 55 countries with 4,000 offices and 128,000 overseas sales associates. Your luxury listing is represented with over 200 selected luxury affiliates through our membership with Luxury Portfolio International, the global gold standard in luxury real estate. Tap into my extensive network of elite local, regional, and global brokerages to help you move around the corner or around the world.
Referrals? Yes, Please!
Most of my business comes from referrals from clients and repeat clients. If you want to help a friend make a successful and low stress move, refer them to me. As always, I promise to take excellent care of them. They will be grateful to you, and so will I.
Referrals are a win-win, so share the love! ❤️ ….Did I mention that referrals are a win-win?
Here are your William Raveis local housing data charts for Westport. Visit the menu icon in the upper left of the page to search another town and check out more insights including the forecasting tool!
You deserve the home 🏡 that matches your lifestyle and needs.
If you’re curious what your house is worth in this market, check out the November report above and request an instant home value estimate!
As always, reach out to me 📲 anytime to discuss your plans.
#RealEstateNews #RealEstateMarket #FairfieldCTRealEstate #HousingMarketUpdate #HomeValues #WhatsMyHomeWorth #WilliamRaveisSouthport #WilliamRaveis #LindaRaymondRealtor #YourCastleMyMission
You deserve the home 🏡 that matches your lifestyle and needs.
If you’re curious what your house is worth in this market, check out the October report above and request an instant home value estimate!
As always, reach out to me 📲 anytime to discuss your plans.
#RealEstateNews #RealEstateMarket #FairfieldCTRealEstate #HousingMarketUpdate #HomeValues #WhatsMyHomeWorth #WilliamRaveisSouthport #WilliamRaveis #LindaRaymondRealtor #YourCastleMyMission
Get your Slice of Paradise on the beach and put your vision into motion!
Historically, this home has been one of the most popular academic rentals in town, affectionately known as “The Shocker“! Earn rental income with academic and summer leases, rent for the winter and have fun all summer long, or build your brand new cherished beach home.
Walk, swim, paddle board, and watch the 4th of July fireworks from your own backyard! This exceptional location ensures quick access to the vibrant downtown shops, chic eateries, and train. Stunning sunrises, sea breezes, and the endless joy of beach living are here for the taking.
This property is a rare find, offering a quarter-acre of prime beachfront with stunning and dynamic views of the Long Island Sound and coastline, the Penfield Light House, and the Port Jefferson Ferries. The property includes an additional .08 acre space with a two-car garage across the street. The house also has ample space with 10 rooms including five bedrooms, a bonus room, and two and a half baths.
Use the property across the street for guest parking and extra storage, or additional parking income. Bring some TLC to the existing house, or turn this into your new dream home of ~4,000+ square feet with parking underneath.
The views and possibilities are endless, but the window of opportunity is now!
Call today for more information or to request a showing ==> 203-912-4440. Feel free to send a note below.
It has been a long road to find the right home in this very challenging market, but we prevailed.
Coming all the way from Texas to the east coast, Robin secured a rental in the Fairfield Beach area for herself, her two children, and her little chihuahua, about a year ago. They were just beginning to feel at home in the new community, when the pandemic hit.
Hunkering down at home as we all were, Robin prepared to renew her lease. However, upon seeing the spiking sale prices, the landlord changed his mind about renting, and told her they were selling the house as soon as possible, giving her only two months to vacate.
In a panic, Robin convinced them to give her a few more months and sent out a text to our neighborhood chat group asking if anyone knew of an available rental.
I reached out and offered to help. After talking with her, and learning what her ideal home would look like and how much she was planning to spend on rent, I suggested that she get pre-approved for a mortgage and put her hard earned money toward a purchase that would build equity for her. As the leader of a large software development group, she had no trouble securing a loan.
So the quest began! Loving the Fairfield beach area, and looking for charm, character, a light and bright feel with room the family and guests, we searched! At first there was almost nothing to look at, but then some homes began to trickle onto the market. Then we found a lovely home and put in an offer. We were faced with ~10 other buyers and were out-bid. We tried again. And again. And again! But the bidding wars were driving the prices out of range.
Unfortunately, the search was taking more time than she had. Her time was up at the current rental, but luckily she found a homeowner nearby that let her rent for three more months. So Robin packed up her entire three-bedroom home and two kids, moved a few blocks away, and unpacked again.
It seemed there was nothing that matched the wish-list for the right price… until we ventured over to the popular beachy neighborhood of Woodmont in Milford. Under construction was a beautiful, bright new home with four bedrooms and finished space on three floors. It even had treetop water views and two balconies! After much negotiation, we secured the home and closed last week.
After so much time being unsettled by a cross-country move, a pandemic, and two limited rentals, Robin had to pack up her family, furniture, and belongings, and move it all one more time. But this time, she can relax, decompress, and enjoy. Finally, a sweet new place by the shore to call home!
Please reach out to me anytime if you have real estate questions or would like to have a conversation about your plans.
Let’s work on this matchmaker mystery together!
One of the challenges buyers are facing, along with would-be sellers, is that they can’t find what they are looking for on the market.
Many agents are sharing the criteria their buyers are looking for with the hope that someone who is thinking of selling may have a match to add to the market.
Here is my urgent buyer wish list,
If a matching property is found for the buyer needs above, the following new listings will in turn be added to the market,
The lack of inventory is limiting the market despite the opportunity of very low interest rates and an excellent time to sell for all interested home owners.
So if you have something, say something! 😃 If you know of something, say something! 😃 Want to talk options? Say something. I’m here to help, 203.912.4440.
Linda Raymond Real Estate Blog, Fairfield, Westport & More 