Lunch and Learn! Real Estate Revelations

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.

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Home Sale Finish Line: 40 Negotiations Buyers & Sellers Must Pass to Close the Deal

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.

1. Showing appointments
2. Competition for the house
3. Multiple offers, escalation clause
4. Hubbard clause
5. Buyer/seller priorities
6. Offer presentation
7. Price
8. Payment method
9. Downpayment
10. Timeline
11. Inclusions/exclusions
12. Solar, assessments, rented items
13. Wetlands
14. Permits
15. Fences, trees, property lines
16. Easements, right-of-ways
17. Insurance
18. In-ground oil tanks
19. Flood restrictions
20. Historic restrictions
21. Zoning restrictions; improvement potential
22. Offer contingencies: inspection, dates, appraisal, mortgage, HUBBARD
23. Inspection terms: info only? health/safety/environmental
24. Inspection items: building, pest, lead, mold, septic, well, pool, in-ground fuel tank
25. Inspection requests: further testing, repair/remediation, timing, credit, as-is
26. Contractors
27. Lender
28. Attorneys
29. Family members
30. Receipts for repairs, new appliances, work done
31. Condos: HOA, bylaws, showing restrictions, parking, resale package, landscaping, repairs, responsibilities
32. New construction: detailed specs, survey, floor plans, timeline
33. Home warranty
34. Seller rent back
35. Date extensions
36. Buyer visits before closing
37. Walkthrough
38. Walkthrough follow-up
39. Keys, clickers, codes, manuals
40. 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.

Check out your quick online home estimate!

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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.  

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!

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.

 

 

 

 

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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Annie and Andrew’s Story

A seasoned recruiter for a financial firm on Merritt 7 in Norwalk Connecticut, Annie knew a good candidate when she saw one.   The perfect asset for the current position was one she had already recruited once before, and that would be her husband!  Given their relationship, Annie’s boss had to step in and seal the deal, but Andrew was on board in no time.

The next step was to move from their home in Avon to a town closer to Norwalk that was affordable and had good schools.  Annie’s boss lived in Fairfield and was a strong advocate.  She convinced Annie and Andrew that this town would fit the bill.

So Annie and Andrew’s agent in Avon called me to help them find a new home in Fairfield.  We spoke on the phone, and I set up their online search.   Immediately Annie saw something she liked and came to see it the next day.  Andrew couldn’t get free until the weekend, and by then the house was gone.  Three more times, the timing was too late or multiple bids got in the way, and three more homes were lost. Homes in their price range in the Fairfield university area were in extremely high demand and flying off the shelf!

Although Andrew liked the homes he had seen, he was still having a little trouble understanding the value for the prices in Fairfield compared to Avon.  Annie and I gushed about the treasured amenities in Fairfield such as the gorgeous beaches, convenient train stations, chic eateries, vicinity to Manhattan and the fantastic vibrant community. I wish I had this video tour of Fairfield at the time! Still, Andrew just shrugged his shoulders and went with the flow, primarily motivated by a quick commute.  

Finally, a lovely pricier home had a price reduction.  We immediately went to see it and this time lucked out.  Annie and Andrew landed a beautiful expanded Cape on a pretty university area street.  They lost no time starting to make memories with their little son George, their new neighbors and all the block parties scheduled for the year.

A short time later, Annie sent me a note that said, “Hi Linda, we love the house, and we have fallen in love with Fairfield.  We have only been in the house a little over a month, but it truly feels like home, and I would say George agrees!  We cannot thank you enough for all of your help. You were terrific to work with, patient and helped us every step of the way. Relocating to a new area is overwhelming, and you really made us feel at ease throughout the whole process.  Thanks again for everything.  We hope to see you around town!”

So we welcome Annie and Andrew to Fairfield and the university area along with some of our other recent new neighbors, Ping and Danian and Rich and Chris.  Annie and Andrew’s story is all about taking that leap toward the next chapter of exciting new beginnings- A new love. A new job. A new town. A new home.  Follow your dreams, and the rest is history in the making!

For questions about your next move, contact me any time!

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Happy Seller Heads South!

Not a big fan of freezing winters, Joe had a dream that he thought was simple:  sell his condo on Madison Avenue in Bridgeport and move to Florida where life is sunny and warm year-round.

Joe after his closing!

It sounded reasonable enough until he put his condo on the market and didn’t get the quick sale he was hoping for.  After trying to sell with four different agents over the course of three years with one deal falling through at the last minute, Joe was feeling quite discouraged and wondered if his plan would ever come to fruition.

Finally, the following summer, he summoned his spirits again and had his son come up from Florida to help him de-clutter.  Then he called me to come and see his place, and I gave him a list of staging tips that he put into play.  We went on the market and received a good amount of activity but were plagued by low-ball offers by investors and a distressed unit that posted for sale at a rock bottom price by a bank.

As the holidays approached, Joe agreed to withdraw from the market long enough to re-do his kitchen.  I referred a great contractor to him that was skilled and well priced.  Joe shopped around for some good deals on appliances, and viola!
      

 

 

 

 

 

With a refreshed look, new kitchen and the New Year, Joe closed on his condo within three months and was off to his dream home in Florida with the weather to match!  Here’s what Joe had to say about it, “I will always be happy to give you the highest recommendation for your excellent customer service and professionalism. I definitely couldn’t have sold my condo without you.  The recommendation to upgrade my kitchen was a big factor.  There were so many condos on the market in Bridgeport, I thought I would never get out of there. But you sold my condo in such a short time frame.  You are a Realtor who cares and gives the best possible customer service one could expect, especially if the seller listens to you and takes your suggestions.  I couldn’t be happier now that I am in Florida.”

Take a look at the video to see Joe’s kitchen transition in action.

Feel free to comment below or request help preparing your home for the market.

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A Great Meal and a Market Update!

My husband and I earned a little ‘found’ time for a dinner out over the weekend when our nine year old daughter, Emerson, was invited to her friend’s house at the beach.  We went to Martel on the Post Road in Southport. My husband is a big fan of the Martel Meatloaf, but I have to say that the Trout Meuniere with haricots verts & white bean salad is absolutely delicious! I highly recommend it, especially if you want to eat healthy. Of course, if you’re looking for something rich and decadent, you must try their Cheese Fondue for Two!  

So, what’s happening in Fairfield’s housing market? We currently have 507 single family homes and 91 condos on the market. With 201 sales in the past six months, this equates to an average of 34 sales per month and a 15-month supply of single family homes for sale. A six-month supply indicates a balanced market and less than this indicates a seller’s market, so we are still clearly in a strong buyer’s market.

Nine homes have sold in June so far, ranging in price from $197,500 for a home on Rakoczy Avenue to $750,000 for a home on Collingwood. This puts the average sale price this month so far at $478K. Looking ahead, 105 more homes are under contract and ready to close! Forty of these are priced up to $500K, 19 are in the $500K-$700K range, 21 are in the $700K-$900K range, eight are listed between $900K and $1mil, 14 are in the $1mil-$2mil range and three are listed above $2mil. In addition, 49 homes are under binder with an accepted offer, including a property on Senate Lane listed for $5mil.

So we should expect to see an increase in sales ranging through all the price points in the next month or so.

Is there something specific you are wondering about in Fairfield’s real estate market? Enter a comment below with your question, and I’ll do my best to respond in my next blog post!

Originally Posted on Fairfield Patch June 23, 2011 at 1:11 am