Linda Raymond Real Estate Blog, Fairfield, Westport & More

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


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SOLD and Accepted Offers in Fairfield Downtown and Westport Greens Farms, October 2021

Looking at how the market did in October… The Westport and Fairfield town-wide sales pace in October slowed a bit from the previous month, consistent with the seasonal trend, and was also down significantly compared to the Covid spike in October 2020, but the sales pace was still above the same time of year in 2019. Inventory remained at two-months of supply in Fairfield and three months in Westport. Low inventory continued to be the most significant limiting factor in these markets. The median sale price was within 2-3 percent of October 2020 numbers and remained significantly higher than in 2019. Market time was still brisk ensuring a constant refresh of available homes for sale.

Industry experts predict continued appreciation of property values and rising interest rates next year.
Purchasing a new home now can award instant equity in addition to exponential savings over the life of a mortgage. Waiting until next year to make a purchase can result in a more expensive purchase. Homeowners that sell now benefit from a larger buyer pool than next year when homes will be more costly for buyers if interest rates go up.

If you are like many others who want to sell but are still on the fence, this fall continues to offer an excellent window to make your move. Interest rates and inventory are still low, and buyer demand is still strong. You are right to arm yourself with an expert guide to help you put your strategy in place to reach your goal! Call me today to discuss your plans ==> (203) 912-4440.

What has sold in these two hot spots?
Where are the accepted offers in October and the beginning of November? Check out the scoop below and take a look at the charts showing the town-wide data.

FAIRFIELD DOWNTOWN – Within a one-mile radius of the downtown train.

Looking at single-family sales, there were 14 closings in October. Market activity showed 16 new accepted offers, including three condominiums and one commercial building in October through November 8th in Fairfield’s downtown and beach area.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Fairfield town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

WESTPORT GREENS FARMS

There was one single-family sale October in Greens Farms. There were four new accepted offers, all single-family homes between $1-4 million, in Westport’s Greens Farms neighborhood through November 8th.

SOLD:

NEWLY ACCEPTED OFFERS:

Take a look at the Westport town-wide stats from the William Raveis Local Housing Data. Send me a note below if you would like the link to add the LHD shortcut to your phone!

Call me if you are thinking of making a move in the next 12 months, and we will have a 15 minute consultation to discuss your goals, the market, and whether I can help ===> (203) 912-4440.


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Would They Ever Leave The Place Where They Grew Up?

They Grew Up There and They 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 “never 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 “hit 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 ⛹️‍♀️🤾🏿‍♂️ 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 💥 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 📖 ? 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.


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Creativity is King!

When my clients and the markets bring new challenges to me, I want to be sure to respond by bringing new solutions and a compelling marketing strategy to the table. That’s why I work for a company that thinks out of the box and always supports me and my clients with cutting-edge innovation. We are not thinking in terms of black and white, (or even 50 shades of gray 😃), but with an exhilarating and vibrant focus on color and creativity!

William Raveis is about to make a big splash! This week, we will begin launching our new campaign, “Your Best Just Got Better” that highlights the individuality of Raveis agents and how our company empowers us to express our creative freedom to help our clients reach their goals. (Here’s a sneak preview of how some of the images will look on billboards, in magazines and newspapers, on TV, and online.) 

Creativity is the key to our success! We don’t dream in boring black and white; we dream in color, and we dream BIG. The powerful paint splash represents the variety of creative programs and services our agents have to accomplish their clients’ home goals. The colors in our new campaign are expressions of all the resources we have as a company.

It’s truly revolutionary: Not only does our company have the resources to buy the home you want to sell (Raveis Purchase), we can also buy the home you want to buy so you can present an all-cash deal (Raveis CashBid™) and finance it later (William Raveis Mortgage). We also offer bridge financing to help bridge the gap between selling and buying. In addition to our stellar tech and local expertise, our financial resources truly provide an edge over our competition.

On that note, stay tuned for the new look and feel of William Raveis Mortgage and all of the exceptional products and services. The new look pays tribute to our company’s heritage, and it is purposeful, bold and as distinctive as the high-quality service we provide.

We are in the very unique position of being a mortgage company that understands real estate, and this gives our clients a competitive advantage. Our home-selling expertise means we can provide our clients the best financing advice, service, and insight to win competitive offers.

Do you have a challenge my team and I can solve for you?

Call today ==> 203-912-4440.


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Mini Vacation at Malibu Taco in Fairfield CT!

We had a fun time and a great dinner at Malibu Taco last weekend! The vibe was definitely lively 🎉 with up beat music in the background that made me think maybe I felt more like dancing than eating. 🙂 The upper and lower outdoor patios were bustling and equipped with multiple heaters. The super-cool and airy interior and bar were completely open to the patios which made everyone in all the eating spaces feel included.

The restaurant definitely attracted a very young crowd, and I think it’s the first place I’ve seen that seemed to have a dozen or more high school kids quietly having dinner together. Yet, there were plenty of older peeps like us enjoying ourselves as well.

The food and drinks were very good and also well-priced. We enjoyed the guacamole with house-made corn chips (which were not too salty) to start. Mark had the Nashville Hot Chicken Taco 🌮 and Spicy Crumbled Chorizo Taco which cooled off perfectly with the Patio Lemonade (yes, with vodka)🍹. I LOVED the Duck and Pineapple Taco and my Malibu Marg (without the salt).

Be sure to check out Malibu Taco in the Brick Walk at 1177 Post Road in Fairfield, (203) 292-8544. Here’s the link to their menu. We will definitely be back. Maybe we’ll see you there!

For more information about our fabulous local communities or how I can help you with your moving goals, give me a call or send a note below.


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Fairfield CT Real Estate Report – September 2021

Despite all the obstacles from this pandemic, you may very much want to make a move to a home that is better suited to your current needs and desired lifestyle. Like so many others, you want the right amount of space for privacy, focus, relaxation, and recreation. Problem is, you’re worried about the monumental stress of actually making it happen, and this is completely understandable.

For most of the population, real estate transactions are the biggest and most difficult financial endeavors of their lives. There are so many moving parts and potential roadblocks. That’s why understanding the market you’re in is so important for making the best decisions. From there, working with a well-qualified real estate expert can help you lock down your hard-earned equity. As you consider your next move, here are the top things to know about the Fairfield real estate market right now:

Click for the digital magazine.

Featured Property: Direct Beachfront
Looking for Beach Homes? Fabulous Beachfront Property For Sale, 963 Fairfield Beach Road, Fairfield CT!

View from deck at 963 Fairfield Beach Rd

Send a request below if you would like to receive the hard copy newsetter in the mail.


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Vacation Home in Fairfield CT, “Tween Waters” at 1220 Fairfield Beach Road!

A house lovingly named “Tween Waters” can only refer to a cherished home by the shore! This quintessential beach home is nestled on a generous .21-acre property between the Long Island Sound and the Pine Creek waterway. Radiating charm and character, this Nantucket-style home features ample curb appeal with a gracious covered wrap-around porch. Cheerful sunlight radiates through the tall windows into the living spaces accentuating the bright airy feel and beach vibe. Scenic views of the property, Pine Creek, and the tidal grasses are enjoyed from inside as well as the porch and deck. The primary bedroom also enjoys peeks of the Long Island Sound. The home features abundant storage in the walk-up attic and in the above-ground full-height storage area under the house. Yet the endearing style and open flow of this home are second to the coveted lifestyle here on the peaceful, yet vibrant Fairfield Beach Road. Enjoy watching the people walking dogs, jogging, and riding bikes from your porch. Gaze out at the sea birds from your rear deck. Jump into your kayak, or head over to the beach for a swim. Within a five-minute drive are downtown Fairfield’s abundant chic eateries, boutiques, a bustling Sportsplex, the train, and the highway! Get into Manhattan in a little over an hour, and then return home and diffuse with the calm of the sunsets, tides, and sea breezes.

Update: Offer accepted above asking in 11 days!

Yes, it is still a good time to sell.

or send a note,


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Real Estate News: Westport and Fairfield CT August 2021

July numbers are in, and opportunity still knocks!

You, like many others have been ready to get out of your current home for quite a while, but you haven’t made the move yet. It’s a monumental decision for sure. You want to get the best ROI and the best terms when you sell and also be able to transition to the ideal new home for your next chapter.

But you are worried about how to prepare your house for sale, navigate the process, and manage the timing. This is all very understandable. This is also why you need an expert agent who understands the current market and who will implement a strategy for you that fits with your priorities and guides you toward achieving your goals.

How’s the single-family housing market in Westport and Fairfield Connecticut as we move into August?

Take a look at the stats below showing how the stats in July 2021 compare to July 2020.

In WESTPORT

  • Single-Family Homes Sales are DOWN 28.1.5% from 96 to 69 homes sold.
  • The Median Sale Price is UP 19% from $1,294,500 to $1,540,000.
  • Inventory is DOWN 18.4% from 244 to 199 homes for sale.
  • Months of Supply is DOWN 44.9% from 6 months to 3.51.
  • Market Time is DOWN 41.1% from 73 to 43 days.

In FAIRFIELD

  • Single-Family Homes Sales are DOWN 34.7% from 147 to 96 homes sold.
  • The Median Sale Price is UP 12.5% from $640,000 to $720,000.
  • Inventory is DOWN 42.2% from 396 to 229 homes for sale.
  • Months of Supply is DOWN 60.6% from 6 months to 2.37!
  • Market Time is DOWN 50.6% from 85 to 42 days.

The trends of low inventory, increasing median sale price, and short market time continue through July. Unit sales dipped in July, likely due to the continued reduced inventory in combination with “buyer fatigue”, and summer vacations. We will likely see reduced closings for the same reasons in August as well.

More homes are listed for sale each day, so despite the low inventory, there is an ever-changing selection to choose from, and you only need one to make your move!

As of the day of this writing, there are 68 newly listed single-family homes and condos in Westport and Fairfield.

Yet the buyer demand is still stronger than the supply which is keeping the inventory low, causing some continued multiple offer situations, though not as many as in earlier months, and pushing sale prices up in both towns.

Opportunities are here for both buyers and sellers in this dynamic marketplace, but we can all benefit from more homeowners listing their properties for sale!

Home appreciation is expected to continue according to the National Association of Realtors Chief Economist, Lawrence Yun. Interest rates are anticipated to rise slightly but are still expected to remain historically low.

So if you are seeking your perfect home, you may want to take the plunge and move forward with doing so now!

If you are thinking of selling in the next 12 months and would like to discuss how to buy and sell your home in the current or future markets, call me today 203.912.4440.

 


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How’s the Housing Market in Westport and Fairfield CT at the Start of July 2021?

As far as the market is concerned, opportunity still knocks! So, why stay on the fence, when you can get a new one! 😉

You, like many others have been ready to get out of your current home for quite a while, but you haven’t made the move yet. It’s a monumental decision for sure. You want to get the best ROI and the best terms when you sell and also be able to transition to the right new home for your next chapter. You are worried about how to prepare your house for sale, navigate the process, and manage the timing. This is all very understandable. This is also why you need an expert agent who understands the current market and who will implement a strategy for you that fits with your priorities and guides you toward achieving your goals.

How’s the single-family housing market in Westport and Fairfield Connecticut as we head into July?

Take a look at the stats below comparing June 2021 to last June 2020:

In WESTPORT

  • Single-Family Homes Sales are UP 25.5% from 51 to 64 homes sold.
  • The Median Sale Price is UP 7.1% from $1,495,000 to $1,601,000.
  • Inventory is DOWN 22.6% from 283 to 219 homes for sale.
  • Months of Supply is DOWN 56.7% from 9 months to 3.72.
  • Market Time is DOWN 65% from 123 to 43 days.

In FAIRFIELD

  • Single-Family Homes Sales are UP 12.9% from 93 to 105 homes sold.
  • The Median Sale Price is UP 16.9% from $650,000 to $760,000.
  • Inventory is DOWN 42.9% from 434 to 248 homes for sale.
  • Months of Supply is DOWN 64.8% from 7 months to 2.46!
  • Market Time is DOWN 45.1% from 91 to 50 days.

The trends of extremely low inventory, increasing median sale price, and short market time continue through June. However, the market is not stagnant. Unit sales are up and we are seeing more homes listed for sale. In fact, as of the day of this writing, there are 71 newly listed single-family homes and condos in Westport and Fairfield. The buyer demand is still stronger than the supply which is keeping the inventory low, causing many multiple offer situations, and pushing sale prices upward in both towns.

Opportunities are here for both buyers and sellers in this dynamic marketplace, but we can all benefit from more homeowners listing their properties for sale!

As the summer temps rise, home appreciation as well as interest rates are anticipated to follow. Yet interest rates are still expected to remain historically low, and buyers continue to look for their perfect homes. If you are a homeowner on the fence, now is a great time to sell!

If you are thinking of selling in the next 12 months and would like to discuss how to buy and sell your home in the current market, call me today 203.912.4440.

 


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Grateful for Our Positive Work Culture at William Raveis Real Estate!

Pictured below are scenes from a fabulous elegant lunch hosted by Bill Raveis and his wife Candy at their Fairfield Connecticut home to celebrate 🎊 the careful selection of our new Southport office manager, Tammy Fenelstein (after Amy Arnheim retired), and getting back to “normal” after the pandemic!  The festivities began earlier in the day at the weekly morning sales meeting in our Southport office where Tammy was introduced to us. The meeting adjourned with a group photo outside the building.

At Willliam Raveis the company’s mission is to be laser-focused on supporting the agents as their customers. So everything they do is driven by the goal of ensuring our success in serving you. This means providing the best cutting-edge technology, a family of companies to support seamless transactions, key solutions to solving the challenges you face when moving to a new home, the best agent training, and the best local, national, and global marketing resources. So we work hard, play hard, and celebrate our happy clients as we go.

You are right to want to work with the agent who’s company has a supportive, joyful, family culture which we are so grateful to have at William Raveis Real Estate, because this positive force 🌅 supports everything we do, and I bring that great energy along with all our resources to work for you! ❤️

If you are thinking of selling in the next 12 months, now is the time to start planning. Call me at 203.912.4440 or reach out using the form below.


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How’s the Housing Market, June 2021? Is it Still Strong in Westport and Fairfield CT?

How’s the single-family housing market in Fairfield and Westport Connecticut at the end of May as we head into June? Take a look at the info below to see the comparison to last May, 2020, and take note of the opportunities. If we follow last year’s trend, we will see a spike in sales beginning in the next couple of weeks and extending through September!

If you would like access to our William Raveis Local Housing Data tool and run your own graphs like the ones below, just send me a note in the form below for the link! Here are the specifics. 

In WESTPORT

  • Single-Family Homes Sales are UP 52% from 31 to 47 homes sold.
  • The Median Sale Price is UP 46% from $1,085,000 to $1,582,000.
  • Inventory is DOWN 29% from 306 to 217 homes for sale.
  • Months of Supply is DOWN 61% from 10 months to 4.
  • Market Time is DOWN 41% from 90 to 53 days.

In FAIRFIELD

  • Single-Family Homes Sales are UP 3% from 72 to 74 homes sold.
  • The Median Sale Price is UP 22% from $662,500 to $807,500.
  • Inventory is DOWN 39% from 421 to 257 homes for sale.
  • Months of Supply is DOWN 62% from 7 months to 2.6!
  • Market Time is DOWN 56% from 107 to 56 days.

The trends of extremely low inventory, increasing median sale price, and short market time continues through May, though we are seeing more homes come on the market. The strong buyer demand in the face of this limited choice is still causing frequent multiple offer situations and pushing sale prices upward in both towns.

Opportunities are here for both buyers and sellers, but the market can unquestionably benefit from more home owners listing their properties for sale! The summer is heating up, and me may see another spike in June through September like last year, depending on whether people are still wanting to escape the City. Interest rates remain low, and buyers are still out looking for their perfect homes. If you have been wondering, yes, now is the time to sell!

If you would like to discuss how to buy and sell your home in the current market, you can create your own home search to check out the market, visit my website, give me a call, 203.912.4440, or send me a note below. I’m here to help!