Linda Raymond Real Estate Blog, Fairfield, Westport & More

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Fairfield’s Super Seven for Supper

Hands down, one of the most fabulous features of Fairfield is all the chic eateries downtown. So, I thought I would share with you seven of my favorite picks for dining and ambiance.
Cafe Madeline
A Friday night ritual for me and my husband, Mark is to pop over to Cafe Madeline on the Post Road, a tiny, personal place, where Madeline is not just the proprietor but also the regular hostess. (You can see her in a white blouse in the photo talking with patrons.) The atmosphere is nothing short of charming and, shall we say, adorable.  Madeline’s taste is somewhat eclectic as evidenced by the pink floral sconces, mini white party lights surrounding the glass case with handmade beaded jewelry for sale, and the flat screen that displays musical performances or nature scenes to fit the mood.  There are probably no more than 10 tables inside, and if the weather is mild, maybe another 5 out on the front patio.  The food is always absolutely delicious.  We cannot resist ordering the butternut squash soup, which is rich and flavorful and always comes as a very generous serving. I typically follow that with the “small plate”, Portobello Mushroom with arugula and goat cheese, served hot  Unbelievably delish!  Mark always gets the Chicken Piccata, also a small plate. He’s not a fan of the spinach that normally comes on top, so he substitutes it for chopped broccoli, which the staff always remembers and does automatically. Intimate, romantic and wonderful!
TotoAnother favorite where you’re made to feel like family when you are a regular is Toto.  The Mediterranean-style eatery comes with the gregarious people and food with a flare. The owner, manager, and team always great you with a warm welcome and seem genuinely thrilled that you have arrived. The decor’ has a stylish and sophisticated, yet casual European elegance, and the covered, heated patio is in service for most of the year.  An absolute MUST starter (if you like cheese), is the Spicy Feta, served in a mini deep dish. You simply spoon it out and enjoy with some rustic bread. It’s truly a burst of flavor!  The Crispy Calamari Salad is the best I’ve had anywhere. Mark cannot resist the Lemon Risotto, the ultimate in decadence with just the right touch of citrus.
 
The Chelsea is a funky and somewhat rustic place to have a drink and enjoy a meal.  Rough wood accent walls and ornate wrought iron design elements are contrasted with neon green metal chairs.  The stunning and fragrant, oversized bouquet of fresh flowers that is always a centerpiece on the bar pulls it all together!  The ChelseaHere, our favorite starter is the Beet Salad with pistachio nuts, a little arugula, and mini-mozzarella balls. The dish has a perfect blend of delicate flavors. Mark says that no one else in town can beat the Chelsea Burger.  I personally cannot live without their Octopus Salad, which is really more of an entree than a salad.  It doesn’t look huge when it arrives, but there is so much protein in it, you are sure to be full when you finish.  The flavors are spectacular!  Large tentacles come with potatoes, greens, onions, and a pickled vegetable that adds a perfect punch!  It’s a must-have in my book, with all the goodness and none of the guilt!
Old Post Tavern
For your classic tavern feel, visit the Old Post Tavern right on the corner of the Post Road and Unquowa.  They have been known to have a lively band during their happy hours, and the patio is lovely.  If you are a fan of French Onion Soup, go no further.  Something about their blend of cheeses as well as some magic ingredients in the broth makes theirs completely unbeatable!
BodegaIf it’s authentic, gourmet, Mexican food in a festive atmosphere you’re after, Bodega is the place to go.  Since it’s another tiny place, you may have to sample their margaritas or other drink specials while you wait for your table or seat at the bar.  One of Bodega’s delectables is the Ceviche, a deceivingly filling dish posing as an appetizer. The fish, in a specialty cocktail sauce, has a fantastic flavor and comes with some toasted plantains, that in my opinion, make a complete meal.  If you prefer something hot, their Chicken Soup is hearty and delicious.  You can have it mild or spicy depending on whether you opt to dump in the hot peppers served on the giant turquoise spoon.  Burrito Tinga is Mark’s tasty favorite, and my daughter loves the Gombos Tacos. Bodega's Festive Atmosphere
Martel is on the Post Road in Southport and is a cozy place with a bit of a steak house feel. The ceilings are high, yet ornate, and there is always an art gallery Marteladorning the walls. Always bustling, it’s a warm, upbeat atmosphere.  Although there are many excellent dishes here, my husband and I have gravitated toward sharing the Fondue for Two followed by Martel’s House Salad. The salad features marinated tomatoes and an aged Danish Blue Cheese that are fabulously delicious together!
Last, but not least, we love the Grey Goose, also in Southport, where we once stood elbow to elbow with John Mayer before being seated. The atmosphere can be described as rustic elegance with an eclectic crowd. Some folks go to hang out, others go for dinner. There’s always a flat screen at the bar featuring a sporting event as well as a crackling fireplace on the opposite wall. Penne ala Vodka, Grey Goose Style is Mark’s staple, while I go back and forth between the Grey GooseLobster Macaroni and the Steak Tips small plate.  The Lobster Macaroni is the absolute best here, with the secret ingredient of truffle oil to compliment the generous chunks of lobster and the crispy cheese topping. The Steak Tips are equally fantastic. Cooked to perfection, they come with a corn salsa and chipotle mayo dip that together, absolutely melt in your mouth!
All this talk is making me hungry!  Be sure to come and try out Fairfield’s fabulous eateries, and should you want to ensure you live right nearby, take a look at the homes for sale below and send a note through the form with any questions!
Click the images to take a video tour!
2073 Fairfield Beach Rd, Fairfield

2073 Fairfield Beach Road, Fairfield CT

254 Penfield Road, Fairfield CT

254 Penfield Road, Fairfield CT

6 Hillandale Lane, Westport

6 Hillandale Lane, Westport CT

 

 

 

 

 

 

 

 

 

 

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My Most Cherished Walking Trail in Fairfield CT!

tidal-marsh-with-creek

Everyone who walks this trail, especially my dogs, agrees that this is one of the most wonderful places to go to decompress and gain inspiration in Fairfield Connecticut’s beach area.   You may find yourself alone with the wildlife (and your dogs), or you may see other people dog-walking, jogging or bicycling. marsh-trail

There is convenient access from several beach area neighborhoods.  One entrance is on Old Dam Road.  You can jump on the trail from the Meadows condo complex off South Pine Creek Road, or you can enter at Mona Terrace by the soccer field and senior center. The latter is my favorite because there is a cut-through from an additional neighborhood near me at the Veres Park cul-de-sac.  A parking lot is also available at the senior center, next to the soccer field.

marsh-trail6

When entering from Mona Terrace, I like the fact that you have options. You can choose to go for a short and sweet stroll along the marsh-side path that leads out to Oldfield Road.  Or for a bigger commitment, you can jump onto the wide trail and go through the woods, across the bridge, and past the Meadows condos and Old Dam Road to the end of the trail and back. marsh-trail3

The woods are always peaceful and pretty, but in my view, the vistas along the tidal marsh are where I find my “Zen”.  When it’s high tide, the water winds through the tall grasses, and when the sun hits the water just right, it sparkles through the reeds and tree branches like diamonds! In the summer, the seaside greenery boasts flowers of vivid colors, and a vast variety of birds are busy doing what they do!

marsh-trail5

Last, but not least, if you take the full route to the end, you will get the prize.  What makes this my favorite trail is that it narrows along a little strip of raised land, where you start to wonder where you will end up.  But it leads you to the sweetest of surprises.  The tail takes you to a final destination, where (spoiler alert) you are surrounded on three sides by the water of a tranquil lagoon.  Beyond the edge of the lagoon, to the right, you can see two more waterways.  Old Dam Road flanks the lagoon with Pine Creek behind it.  And behind that, you see Fairfield Beach Road and the Long Island Sound.  Three different waterway views all at once, what a rare treat!   Your dogs can go for a swim, you can take some photos as I’ve done here, and then, you can head back to reality feeling renewed.

tidal-marsh-trail-end

 

For more information about the rich local amenities or any real estate questions, send me a note below or give me a call.

-Linda
203.912.4440

 

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.


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Nothing Like a Great Back Yard on a Holiday Weekend!

My own backyard in the Fairfield beach area is one commonly referred to as a ‘postage stamp’, though it still manages to accommodate our trampoline and numerous get-togethers.  However, some good friends of mine in Westport have a much more spacious backyard with abundant space for fun, games and big-time bashes.  We’ve been to quite a few, with the latest one being Memorial Day weekend 2016!

Hillandale Back Yard and Patio

It turns out, these friends have just moved their social agenda to another gorgeous yard (and home) nearby.

New Home, New Back Yard!

The good news for all of you readers out there is that the wonderful backyard my friends have left now has a brand new house on it that will be ready to support a new source of festivities!

Tucked away just off Turkey Hill South, a new home sits on a quiet country lane cul-de-sac. Carefully designed and finished on four levels, this home will feature elegant transitional style with open flow and ethereal light. Romantic landscaping and plantings surround the level property making it super for entertaining, fun in the sun, and peaceful relaxation.  It is the Hillandale House.

6 Hillandale Lane, Westport CT

6 Hillandale Lane, Westport CT

The builder, Coastal Construction Group, has fine-tuned the art of quality home construction by providing careful attention to site design, layout, architecture, craftsmanship and the right property location. As we all know, a home is more than just the place we live, it’s the foundation for everyday living.  Added bonus?  This home is located four minutes from Green’s Farms station and under an hour from Manhattan!

Take a look at the sneak peek video, and visit the listing online and check out a snapshot of the progress!  Perhaps you know someone who has been weighing the options of renovation versus new construction and this may be a consideration?  If you or a friend may be interested, reach out to me at 203-912-4440 or send a note below.

In the meantime, whether it’s Memorial Day, Father’s Day, a graduation party, or just plain summer fun, here’s to a great backyard barbecue!

 

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Save Money, Have Fun, Do a 1031!

If you own an investment property and are thinking of selling it to buy a different one (or two), you can do a 1031 Exchange and enjoy great benefits!  What’s so great about it, and how do you do it?

 

Here’s how it works-

  1. With IRS code 1031, owners can defer paying all capital gains on investment smart ladyproperty. This means that if you own property used for business or investment, you can sell it and use the proceeds from the sale to reinvest in another investment property of greater or equal value to avoid paying taxes.
  2. You have to declare that you are doing a 1031 Exchange before you close on the sale.
  3. You have to meet the 180-day rule: Investors have 180 calendar days to complete the exchange and close on all intended purchases.
  4. You have to meet the 45-day rule:  Identify up to three possible replacement properties within the first 45 days of the 180 day period. You can also sell multiple properties and buy one big property.   If you identify more than three properties, the total cost of the identified properties can’t be more than twice the value of what you are selling.  If you identify more than three properties and they end up totaling more than 200 percent of what you are selling, then you have to buy 95 percent- worth of the properties you identified in order to complete the exchange. Your replacement property must cost more than the net sale price of your existing investment property. Identify 3 Properties
  5. You Must use a Qualified Intermediary (QI) to facilitate the 1031 exchange.  The QI takes care of everything for you including preparing the exchange agreement, handling escrow, and coordinating with the closing agents.  The QI must be a third party to the transaction.  He or she can’t just an attorney or Realtor in the transaction that puts the sale proceeds and funds in an escrow account, nor can the QI be a relative. These are IRS regulations.

And here are six amazing benefits of doing 1031 Exchanges-

  1. You enjoy huge savings on taxes.
  2. You can shelter your earnings in real estate, legally!
  3. You can diversify or consolidate your investment property.
  4. You can gain buying power by reinvesting.
  5. You can create more income to build your wealth.
  6. There’s no limit to the frequency or quantity of 1031 exchanges you can do.

Consider an “equity build strategy” suggested by the Midland company (referenced below) that looks like this:

  • Defer paying up to 25 percent in taxes on your gains.
  • Sell a moderately producing property to buy a higher income-producing property and increase your monthly income.
  • Pay no federal, state, capital gain, or income taxes on the sale of the property.
  • Do 1031 exchanges over and over for a lifetime, and the tax liability will never be passed on to your heirs.
  • Base your strategy on cash flow, and you will have success in any market. The key is to get the highest percentage income on your purchase.  Even if the dollar amount is small, it will grow over time.  For example, if you can sell a property making seven percent cash-on-cash and buy a property that makes 23 percent cash-on-cash, you are well on your way to implementing an excellent equity build strategy!  Equity bulid strategy

It’s a good idea to use a QI that is local or that works in many states and is familiar with the varying regulations and taxes in different states. You want a QI that has experience and is bonded and insured. You also want to look for one that is a member of the National Federation of Exchange Accommodators and that is a Certified Exchange Specialist (CEC).

Here are some resources to get you started:

1031 Exchange Made Simple

Midland Self-Directed IRAs & 1031s

For help selling and locating properties, please reach out to yours truly!

 


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Home Buying: Lessons Learned from Power Couple’s First Time!

Home Buyers Race to Buy House

Wait! Remember Your Pre-Approval!

Ronald and Sara were a happy young couple ready to jump into home buying and get their first home together. When they called me, they knew what they wanted, a four-bedroom home with nice property and a pool in the million dollar range. There was a house, in particular, they had seen online that they were very excited to see right away. They thought this could be it, and they would be buying their first home.

I was excited for them too! I asked if they had spoken to a mortgage professional yet. They had not, so I gave them a few reputable contacts to reach out to and told them they should have a mortgage pre-approval before they started looking. They asked why, and I told them that the pre-approval serves three critical purposes, one, it confirms that they are eligible for a loan, two, it lets them know what their spending limit is and what the associated monthly payments will be, and three, it positions them as strong and qualified buyers when presenting an offer for the home they want to buy.

So they forged ahead, chose a lender, and sought their pre-approval. But they were soon shocked and disappointed to learn that they would not be eligible for a mortgage for at least another year.

Ronald and Sara were a power couple with great jobs and ample income. Sara had a Ph.D. and was the director of a graduate school. Ronald was an emergency room physician.

But, what they didn’t realize was that all the student loans they were paying off gave them a ratio of debt to income that was too high to get a mortgage. So we found a nice home for them to rent for a year. In the meantime, they worked hard with the credit expert company, North Shore Advisory to ensure they were on the fast track for managing their debt and raising their credit scores within the one-year timeline they had set as a goal.

Couple gets engaged

“I do!”

Fairfield University Home

This is the one!

Honeymoon in Africa

Honeymoon in Africa

 

 

 

 

 

 

 

Fast forward a year later, and they sailed through the pre-approval process to obtain a Certified Pre-Approval from William Raveis Mortgage, got engaged, and found and closed on a gorgeous new home in the university area of Fairfield, Connecticut!

Ronald and Sara also managed to jet-set off to Africa for a pre-honeymoon celebration on safari before returning to their new home to plan their wedding!  Clearly they were perfectly situated to live happily ever after, but what were the lessons learned along the way?

Always get a pre-approval before you start shopping for a home so that you know where you stand, avoid unexpected setbacks, and can position yourself as a competitive buyer.   Besides, an offer to purchase a property is not complete or acceptable without a pre-approval letter from your lender or proof of cash.

Be sure your pre-approval is of the utmost quality, as they are not all created equal. Recent changes to national lending regulations add extra time sensitivity and make this more important than ever. There are a number of new technology enhancements available that can make the whole mortgage process faster, easier, and more transparent for consumers.

Mortgage Technology Enhancements

New Tech Enhancements Simplify Mortgage Process

William Raveis Mortgage is the only mortgage banker to provide a Certified Pre-Approval.  This means that when they present a Certified Pre-Approval to a buyer, they have completed a full review of credit, income, and assets, reviewed supporting documentation and double-checked it all via an automated underwriting system to ensure that when the big day comes, the buyers get their loan and the sale goes through.

Playing with Credit Cards

Play with Your Credit Cards AFTER You Close!

Last, but not least, it’s important to be aware of all the factors that can impact your credit score because, the lower your score, the more you will pay for your mortgage, (as well as insurance and other things). In fact, it’s a good idea to check your credit well in advance of applying for a loan so that you have time to work on it if need be.  Visit North Shore Advisory, Inc. for an expert resource about credit tips and strategy.  Once you have your good credit and Certified Pre-Approval in place, make sure you don’t do anything that can change your credit score before you close!  Even a tiny negative change to your credit can bump up your interest rate and suddenly put your dream home out of reach.  So check with your lender or Realtor about things you should or should not do during your home purchase process.

Then you are ready to make your dream home come true! Welcome Home!

For questions about the process of buying or selling a home, or if you’re thinking about a move this season, send me a note below!


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What are the Hot Technology Trends in Real Estate?

Six Hot Trends that are Super Cool for Consumers!

Real Estate Technology Trends

Consumer-Friendly Tech Trends in Real Estate

  1. Virtual Experiences – The trend is to showcase properties while delivering consumers

Raveis 3Dan engaging experience that also saves them time. In addition to creative videos, this includes 3D touring, virtual reality, drone photography, virtual staging and even hologram projection of furniture into rooms.  3D tours enable viewers to virtually walk through a property while using their computer mouse to “go” anywhere in the home.  The tool also creates a virtual doll house that lets buyers float through the floors and get an overall feel for the layout, orientation, and flow. Inman News recently talked about virtual reality tours that use special goggles to create an experience close to being there in person as well as gear that projects holograms of furniture into a space to visualize it “for real”.  Last, but not least, busy or far-away consumers can benefit from a live virtual tour via Skype.

  1. Social Media Exuberance – Okay you might have guessed this one, but it shouldn’t be underestimated. Social media can provide a much richer perspective and bring added value beyond what a typical website can offer when evaluating a potential Realtor.  Does the agent share useful information and resources? Do they have a strong presence on multiple platforms including a blog? Do they leverage this presence to promote client listings for maximum internet exposure? Are they creative, resourceful, knowledgeable, personable?  Do they share insights from past customers?  What do they do in their spare time? Many consumers are looking into these types of questions with a simple online search or searches within social media platforms.
  1. Mobile Optimization – Everyone’s on the go! The trend is for people to consume web content on their mobile devices.  Statista.com predicts a 57% increase in global mobile web traffic per year through 2019.  The most recent click reports I received from my e-newsletter show that readers opening the email on a mobile device versus a computer range between 50-70%. Mobile Optimization So more and more real estate websites and blogs are becoming mobile friendly and optimizing for the best mobile experience. Mobile apps are also on the rise.  William Raveis provides a comprehensive Real Estate App. The company has also released a Mortgage App that enables home buyers to start their pre-approval process right from their phone! And hot off the press is the Raveis Open House App that lets guests type in their name, phone, and email and then request a complimentary home value report, mortgage pre-approval and Local Housing e-Newsletter for the town of their choice!
  1. Mortgage Magic – Instead of misery. The complex process is now streamlined with new technology that gives consumers the efficiency and transparency they need and deserve. William Raveis Mortgage addresses the first critical step by providing buyers with a certified loan pre-approval followed by electronic milestone tracking of their loan process that also keeps all the players on track. Borrowers view a bold graphic showing a clear progression of the steps and status across their screen.  The icing on the cake? Sign documents electronically from wherever you are!Real Estate Value Forecasting
  1. Accurate Value Estimates – We’ve all heard of the Zestimate, and most of us are well aware of the frustrations with inconsistent results, incorrect data and inability to correct errors.  “What is my home worth?” is the question people are always asking. Savvy consumers want a quality tool to help them estimate the market value of their property.  William Raveis recently launched the RAVestimate. The interactive technology lets consumers  input specific home improvements and then work with comparable sales data that they select.  The company tested the tool and documented extraordinary accuracy.
  1. Predictive Marketing – Advanced intelligence and predictive modeling to help buyers before they ask are up and coming. Consumer data and predictive analytics will be used to anticipate home buying goals, preferences, and timing.  So in the not-too-distant future, Realtors, lenders, and perhaps the perfect home may be finding the buyer before they even know they are going to buy!
    Real Estate Technology, Predictive Analytics

 

Which trends to you think have the most promise?  What other trends are you seeing that are consumer driven?  From a consumer perspective, what new technology services would you like to see?

CT Post - Real Estate Tech Trends Dec 2015

For more information or questions about your moving plans, contact me using the form below.