As we dined at the elegant yet fun Gabagool in Fairfield CT, indulging in their delectable Rice Bwalls and Mediterranean Dip alongside sips of the crisp Italian beer Forst and bubbly prosecco and enjoying their cushy seats, our conversation delved deep into the intricacies of real estate transactions.
Here are some key takeaways 🤩 from our discussion, showcasing the dedication and problem-solving prowess required to serve our clients effectively:
1. Prioritizing Privacy and Peace of Mind: 😌We recounted a recent sale where our client chose to sell swiftly to the first buyer, bypassing a potential bidding war. For them, privacy and a hassle-free process trumped squeezing out every last dollar. It’s a reminder that for some, the intangible benefits outweigh the financial gains. 2. Timing is Everything: ⏰ A seemingly perfect home for a buyer turned out to be a sleepless night of doubts. However, patience paid off when they found their true dream home the following year. It underscores the importance of trusting the timing and being open to the unexpected twists in the journey. 3. Easing the Burden: 🏋️♀️ Many homeowners delay selling due to the daunting task of emptying out the house. However, discovering that their agent could handle the entire process, from decluttering to staging, was a game-changer. It’s a testament to the value of comprehensive service and alleviating clients’ burdens. 4. Clearing Mental Roadblocks: 🤗 Sometimes, buyers may hesitate due to fixable issues or lingering doubts. By addressing their concerns head-on and guiding them through the decision-making process, we can pave the way for a smooth transaction and a happy homeowner.
At Gabagool, amidst savory bites and refreshing drinks, we reflected on these anecdotes that underscore the heart of our profession: understanding, empathy, and problem-solving. Each transaction is a journey, and by staying attuned to our clients’ needs, we can navigate any obstacle and unlock success in real estate.
Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.
Here’s what happened in March 2024.
Prices were up.
Single-family home sale prices averaged 102% of asking in Fairfield and 99% in Westport.
The median sale price in Fairfield was $870,000, UP 15.7% compared to March 2023 and also up from last month. The median sale price per square foot was also UP 7.3% to $403. In Westport, the median sale price was $2,250,000, UP 11.9%. The median sale price per square foot was $489, which was DOWN 3.9% from last March.
Pacewas down.
Days on market averaged of 82 days in Fairfield and 100 days in Westport.
Unit sales were down 29.8% in Fairfield and 16.7% in Westport compared to March 2023. Inventory was up in Fairfield with 115 single-family homes for sale and down in Westport with 78 homes for sale.
The months of supply metric was up in both towns from March 2023 but still in the two-to-three-month range. This was the result of a slower rate of sales.
What does it mean?
The market in March showed continued low inventory which was the biggest rate-limiting factor. Buyer demand also continued despite the inventory shortage which maintained upward pressure on prices. Though rates have not ticked down yet as hoped, more homes started to come to the market in April.
Bottom line.
People buy and sell in every season and in every market. So embrace your new lifestyle goals if the right time for you is now. Your agent’s expert guidance will help you navigate this market for a successful sale or purchase. Reach out to me anytime with your questions about the market and to discuss your plans.
When you are selling, your agent will guide you on the strategy and negotiations to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.
If you plan to buy in this market,there is a bit more flexibility in timing and price than in the previous months. However, this is now on a house-by-house basis. There is still a predominance of solid competition and a relatively short window before sellers accept offers. So it is important that you are ready to make an informed decision if you really want to get your house. This means you have everything you need to submit a competitive offer. This also means that you have your mortgage pre-approval or proof of funds in your agent’s hands because an offer is not complete without this critical piece! Here’s a guide for what you can expect.
What are your thoughts about the market and interest rates? Do you plan to jump into the market this spring? 🌷 Share your thoughts in the comments or send me a note below.
In the intricate dance of real estate transactions, negotiation is the heartbeat that drives a successful home purchase. As a seasoned realtor dedicated to my clients’ satisfaction, I employ a comprehensive approach to negotiation, ensuring my clients have every advantage to secure the property they desire and navigate smoothly to the finish line of closing. From initial showings to final walkthroughs, every step presents an opportunity to leverage key points, overcome obstacles, and move the process forward. Let’s delve into the 40 critical negotiation points at a glance that I meticulously manage to turn dreams into reality.
New construction: detailed specs, survey, floor plans, timeline
Home warranty
Seller rent back
Date extensions
Buyer visits before closing
Walkthrough
Walkthrough follow-up
Keys, clickers, codes, manuals
Closing time, sign removal
Navigating the complexities of a real estate transaction requires skillful negotiation at every turn. By addressing each of the 34 negotiation points outlined above, I ensure my clients are empowered to make informed decisions and secure the home of their dreams. From purchase price to closing time, no detail is overlooked in my commitment to achieving their goals. With a trusted realtor by their side, home buyers can confidently navigate the journey from offer presentation to sign removal, knowing they have an advocate dedicated to their success. Reach out to me today to discuss how we can work together to turn your real estate aspirations into a reality.
Dive into our staging walkthrough and unlock the secrets to selling your property faster! See how staging can optimize space, highlight assets, and spark emotions! Don’t miss this chance to create a buyer’s dream by elevating any environment and creating captivating spaces!
Many sellers hesitate to invest in staging as a marketing strategy when putting their homes on the market. It’s because they figure buyers can visualize the space they want, right?
Put Your Buyer Hat On for A Minute
But if you put your buyer hat on for a minute, and try to visualize the space differently, it’s not so easy. Buyers will often miss seeing the best use of the space, the key assets of the space, and they will miss out on the positive emotional impact of the space, all of which staging can provide.
So I wanted to show you a few video examples, and you can see for yourself.
The Dining Room Is Set for Guests
The first example is the beautifully staged dining room. It shows that there’s ample space for seating and that it’s conveniently located just off the kitchen. The light colors are attractive and lighten the space, and the decorative and delicate vase of branches shows off the bay window and an area for a side table. The art on the wall and centerpieces down the centerline of the table give an emotional feeling, like, hey, I would like to entertain here someday!
The Living Room Showcases Its Inviting Features
The key features in the living room are that it has a beautiful raised tray ceiling, a lovely gas fireplace, ample seating, and sliders to the deck outside. The staging showcases these features by using simple lines with light colors and a painting that brings the eye right up and over to the fireplace. A bright green throw blanket on the sofa is a splash of color that pulls the eye to the doors and the view outside. The staging also shows that there’s plenty of room for seating with two large sofas and plenty of room to spare. The only thing I might have done differently is use a club chair on each side of the sliders so that the views are straight out to the side instead of a sofa blocking it. This coffee table also features beautiful books about global travel that speak to an aspirational lifestyle that everyone wants to have!
The Primary BedroomIs a Luxurious Sanctuary
Staging in the primary bedroom is soft and luxurious. It shows an oversized bed with a tall headboard. The light pictures on either side of the bed bring the eye upward toward the high ceiling. And the throw blanket brings the eye to the window and a nice deck outside. Last, but not least, there are some little accessories on the dresser like perfume and flowers that make you feel like you’ve just about moved in!
The Second Bedroom, Previously Used as An Office, Reclaims Its Function
The second bedroom used to be set up as an office, but now it’s staged to show that it can sleep two. And the bright colors and mirrors emphasize the ample natural light and give a feeling of fun.
The Open Lower Level Gains Three Functional Spaces…And The Office Returns
The lower level is big and spacious. But it’s hard to determine how to make the best use of it unless this is not illustrated. So three functional areas were set up by the stager. There is an office with a window. There is a beautiful seating area with a fireplace and sliders that go to the outside along with a bookshelf area. And there is a beautiful exercise area. The three functional areas are visually separated yet also linked together with matching colors and a consistent design theme, in this case, horses!
The Staging StrategyAccomplished Four Key Objectives
Show the ideal use of the space.
Highlight the assets.
Evoke a powerful and positive emotional response.
Create a fabulous setting and generate beautiful digital media that is strategically distributed to attract the largest matching pool of buyers.
Staging is just one component used in the successful sale of a home. Here’s the full story of selling a luxury condo in Westport CT.
We’ve entered Daylight Savings Time, and Spring is so close, we can taste it! 🌱
Here’s a quick look at what happened last month in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.
Here’s what happened in February 2024.
Prices were up.
Sale prices averaged 100% of asking in Fairfield and 107% in Westport.
The median sale price in Fairfield was $820,000, up 37.8% compared to February 2023. The median sale price per square foot was up 6.5% to $373. In Westport, the median sale price was $1,600,000, down 1.5%, and the median sale price per square foot was $534, which was up 5.1% from last February.
Pacewas down.
Days on market averaged of 56 days in Fairfield and 67 days in Westport, so two-to-three months in general.
Unit sales were down 21.1% in Fairfield and 40% in Westport compared to February 2023. Inventory was also down with just 111 single-family homes for sale in Fairfield and 77 in Westport.
The months of supply metric was up from February 2023 but still in the two-to-three-month range in both towns. This was the result of a slower rate of sales.
What does it mean?
The market in February showed continued low inventory which is the biggest rate-limiting factor right now. Buyer demand also continued despite the inventory shortage which maintained upward pressure on prices. But rates are back into the 6s, and there is pent up demand on all fronts for people to make a move to a better suited lifestyle.
Bottom line.
People buy and sell in every season and in every market. So embrace your new lifestyle goals if the right time for you is now. Your agent’s expert guidance will help you navigate this market to secure your new home. Reach out to me anytime with your questions about the market and to discuss your plans.
When you are selling, your agent will guide you on the strategy to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.
If you plan to buy in this market,there is still solid competition and a relatively short window before sellers accept offers. So you must be ready to make an informed decision if you see a home that meets your top criteria. This means you have everything you need to submit a competitive offer. This also means that you have your mortgage pre-approval or proof of funds in your agent’s hands because an offer is not complete without this critical piece! Here’s a guide for what you can expect.
What are your thoughts about the market and interest rates? Will a little healthy March madness motivate you to make your move? Share your thoughts in the comments or send me a note below.
As we plug away toward spring, let’s take a quick look at what happened in the first month of the year our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports.
Here’s what happened in January 2024.
Prices were up.
Sale prices averaged just under 100% of asking in Fairfield and 101% in Westport. This is about the same as January when both ratios were 100%.
The median sale price in Fairfield was $805,000, up 36.4% compared to January 2023. The median sale price per square foot was up 7.9% to $341. In Westport, the median sale price was $1,850,000, up 16.4%, and the median sale price per square foot was $482, which was up 15.4% from last January.
Pacewas down.
Days on market increased from 48 in November to an average of 63 days in Fairfield and 74 days in Westport. This is approximately 30% more time on the market than last December in both towns.
Unit sales were down 13.5% in Fairfield and 5% in Westport compared to January 2023. Inventory was also down with just 100 single-family homes for sale in Fairfield and 83 in Westport. There were seven new listings in Fairfield and six in Westport at the time of this post.
The months of supply was up from January 2023 but still in the two-to-three-month range in both towns. This is the result of a slower rate of sales, and due to an influx of homes coming on the market.
What does it mean?
The market in January showed the continued trend of low inventory with ongoing buyer demand which maintained upward pressure on prices.
Bottom line.
People buy and sell in every season and in every market. So you can embrace your new lifestyle goals if now is the right time for you. The expert guidance of your agent will help you navigate this market to secure your new home. Reach out to me anytime with your questions about the market and to discuss your plans.
When you are selling, your agent will guide you on the strategy to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.
If you plan to buy in this market,there is still solid competition and a relatively short window of time before sellers are accepting offers. So it is important that you are ready to make an informed decision if you see a home that meets your top criteria. This means you have everything you need to submit a competitive offer. This also means that you have your mortgage pre-approval or proof of funds in your agent’s hands, because an offer is not complete without this critical piece! Here’s a guide for what you can expect.
What are your thoughts about the market and interest rates? Do you think this year will be a better time for you to move than last year? Share your thoughts in the comments or send me a note below.
Linda Raymond’s Journey to Becoming a CT Realtor: From Westport to Worcester and Back
I came to Fairfield County when moving to Westport, Connecticut from New Jersey just before entering the eighth grade.
After attending Staples High School in Westport, I went to Clark University in Worcester, Massachusetts and graduated as a biology major before returning to the area for my first job as a research assistant at Yale. I continued school part time and earned a Masters degree in exercise science from Southern Connecticut State University in New Haven. My career then moved to corporate health and fitness in Stamford, Connecticut where I worked for corporate consulting firms that served companies seeking to improve the health of their employees. I worked closely with the employees of our corporate clients.
From there, I evolved into program design and management for employee health and productivity in large companies like IBM with dispersed national populations. I worked with my team to develop and deliver innovative programming with a range of delivery strategies to engage employees through their benefits and occupational health departments. After 13 years of facilitating programming and data management on a population-scale basis, I began to feel the need to re-connect with people on an individual basis.
At the same time, my husband, young daughter and I decided to pursue our first home purchase in the Fairfield and Westport Connecticut areas where the schools are excellent.
This changed everything, my home, my career, and my lifestyle!
What Does the Journey to Your New Home Look Like?
Navigating the competitive Fairfield County home buying market in 2004 just before the housing bubble burst, I learned first-hand that the strategy of home buyers and home sellers had to adapt to the existing market conditions.
The Emotional Rollercoaster of Home Buying
As a first-time home buyer looking in Fairfield and Westport Connecticut, I was amazed by how intense, emotional, and complicated buying a home and making a move really was.
Your Castle, Your Asset: Understanding the Home as an Investment
Your home is one of your largest assets. It requires a huge financial commitment. Your homeownership, is a critical investment in your future. You invest in it to gain equity, and you want it grow. Unlike most other investments, your home also holds tremendous emotional value. Your home is your castle. It’s where you live, love, grow, work, and play. It’s where go to be safe and sound, to feel peace and joy.
Making Informed Decisions: My Approach to Real Estate Assistance
So it’s not surprising that making a move is a monumental endeavor. Add to this the challenges of housing market conditions and the complex process, and the stress can be over the top! When you’re preparing to move to a home that better suits your current needs, you need an expert guide to navigate both the challenges and the opportunities, and to help set your mind at ease. You need to feel you are best positioned and on the right track to your new home!
Your Castle. My Mission: How I Can Help You Move with Confidence
So my current passion is to guide you as my client through the process of moving from one home to another while focusing on achieving the best terms and outcomes to meet your priorities and help you enjoy the process with peace of mind at the same time.
The focus on science in my education drives my reliance on data and facts to inform sound decisions. Decades in the business sector serving results-focused corporate clients drives my focus on strategy, planning, and accountability in the customer service I provide to my clients. And most of all, my genuine passion for understanding you and your priorities and my end-goal of making you a very happy client, are the forces that drive me!
Since May of 2005, I have been back to working one-on-one with home buyers and home sellers here in Fairfield, Southport, Westport, and surrounding areas to guide them through the huge decision to transition to the home sweet home.
Providing Input, Insights, and Resources
Putting my business skills and experience to work for each client, my focus is to provide the insights, information, and resources my clients need to feel confident in making informed decisions and to ensure they are thrilled with their end result.
My strategic approach to helping my clients reach their goals integrates the key elements of listening, understanding, strong communication skills, facilitating collaborative relationships, a customer service focus, effective negotiations, market intelligence, leveraging technology and creativity, creative and strategic marketing, and business collaborations.
I specialize in helping people pursue their plans for downsizing, resale, first-time home buying, home sale and home buying.
What Is Your Ideal Lifestyle?
Some of my passions include dogs (we have a Havanese from a breeder, and a Terrier mix from Pet Finders!) dance, swimming, skiing, travel, family, and crafts. I love the ease of making these things a part of my life in my home. Are you in the right home to support your current lifestyle passions?
The Perfect Next Step!
If you are thinking of making a move now or in the future, I encourage you to start with a conversation now, and you will be well on your way. Give me a call today or send a note below and tell me what your ideal Castle looks like!
My blog is here to provide informative insights into the home buying and selling process and fun information about the local community. Comments, questions, and suggestions are always welcome!
As we dive into 2024, let’s take a quick look at what happened in December in our local Fairfield and Westport markets. If you’re curious which homes sold, take a look at the What Sold Reports, and if you love the charts 📊, scroll down. ⬇️
Here’s what happened in December2023.
Prices were up.
Sale prices averaged 102% of asking in Fairfield and 103% in Westport. This was an increase from November when both ratios were 100%. Most homes, (57% in Fairfield and 70% in Westport), sold above the asking price, and more than 90% of the sales sold for over 95% of the asking price.
The median sale price in Fairfield was $1,010,000, up 41.3% compared to December 2023. The median sale price per square foot was up 12.2% to $421. In Westport, the median sale price was $1,750,000, up 2.9%, and the median sale price per square foot was $605, which was up 38.3% from last December.
Pacewas down.
Days on market increased from 48 in November to an average of 63 days in Fairfield and 74 days in Westport. This is approximately 30% more time on the market than last December in both towns.
Unit sales were down 17.3% in Fairfield and 37% in Westport compared to December 2022. Inventory was also down with just 88 single-family homes for sale in Fairfield and 58 in Westport. There were seven new listings in Fairfield and six in Westport at the time of this post.
The months of supply was up from December 2022 but still in the two-month range in both towns. This is the result of a slower rate of sales, and due to an influx of homes coming on the market.
What does it mean?
The market in December demonstrated more of what we saw all year. Low inventory with buyer demand maintained the upward pressure on prices and limited the pace of sales.
The good news was that rates began to tick downward in November, and there were some signs that the market might start moving in a more balanced direction. At the time of this post, you could get a 30-year Fixed Jumbo at 6.625% and 30-year FHA for 6.125% from William Raveis Mortgage. This pointed to us being past the peak of interest rates.
Udate 1/11/24: The National Association of Realtors Chief Economist Lawrence Yun forecasts an improved housing market in 2024. He said, “The demand for housing will recover from falling mortgage rates and rising income. In addition, housing inventory is expected to rise by around 30% as more sellers begin to list after delaying selling over the past two years.”
As we head into the New Year with rates ticking downward, more sellers may be ready and willing to enter the market. With the improved affordability from these lower rates and new listings to choose from buyers should be able to appreciate more options. So, if you have been waiting to make your move, now is a good time to get ready to do so.
Bottom line.
People buy and sell in every season and in every market. So you can embrace your new lifestyle goals if now is the right time for you. The expert guidance of your agent will help you navigate this market to secure your new home. Reach out to me anytime with your questions about the market and to discuss your plans.
When you are selling, your agent will guide you on the strategy to maximize the demand for your listing in the current market. Here’s an overview of what you can expect.
If you plan to buy in this market,there is still solid competition and a relatively short window of time before sellers are accepting offers. So it is important that you are ready to make an informed decision if you see a home that meets your top criteria. This means you have everything you need to submit a competitive offer. This also means that you have your mortgage pre-approval or proof of funds in your agent’s hands, because an offer is not complete without this critical piece! Here’s a guide for what you can expect.
What are your thoughts about the market and interest rates? Do you think this year will be a better time to move than last year? Share your thoughts in the comments or send me a note below.
William Raveis Local Housing Data
FAIRFIELD SINGLE-FAMILY – DECEMBER 2023
WESTPORT SINGLE-FAMILY – DECEMBER 2023
If you’re not ready to think about your move yet, please refer your friends to me using the form below. Referrals are a win-win!
I want to thank my wonderful clients for trusting in me to guide them through the exciting time of making one of their most important moves to buy and sell a home! Thank you to William Raveis Real Estate for giving me all the resources and training needed to provide my clients with top notch service!
Linda Raymond Real Estate Blog, Fairfield, Westport & More 