Fairfield County Homes

Westport Connecticut Real Estate Update*

2011-12-21T12:24:00.006-05:00

January through November 2011, 324 single family homes sold in Westport Connecticut versus 325 units sold during the same time in 2010. More proof that the real estate market in Westport is stabilizing! Consumer confidence is up, interest rates are down, and homes are being priced right; all factors contributing to market stabilization. Unit sales year-to-date are up by 41% over 2009 and down by 15% from 2007.

The median sales price continues to lag slightly behind last year. From January to November 2011 the median sales price of single family homes in Westport was $1,101,500 versus a median sales price of $1,125,000 during this same time frame in 2010. Although the median sales price in Westport has been falling since 2008, the rate of decrease has slowed down dramatically year over year. Homes sold between January and November of 2009 had a median sales price 12.8% lower than homes sold in the same time frame in 2008. From 2009 to 2010 they were down only 4.5% and so far this year, prices are down only 2% from the same time frame last year.

We will continue to keep a close eye on the real estate market in all of Fairfield County and report select town statistics each month in our monthly newsletter. Visit http://www.yourfairfieldcountyhomes.com/Newsletter to sign up to receive these stats via email. If you have an interest in a specific town or neighborhood, contact us for details that meet your needs.

*Source: Greater Fairfield County Consolidated Multiple Listing Service

Fairfield County Market Update

2011-09-01T12:41:00.004-04:00

There is a healthy, active inventory of 7,973 single family homes on the Greater Fairfield County Consolidated Multiple Listing Service. To date, we have 4,051 sales representing a unit sales decrease of 11% vs. the first seven months of 2010. The result is a 14 month supply of homes currently on the market. The median selling price county-wide is $400,000 which is only a 1.5% decrease versus this same time frame last year. This update provides more evidence that prices during the first 7 months of the year did level off. This is not the case in every town and can be broken down for each specific property so it is important for our listeners to talk to their REALTOR® about the advantages of buying or selling in a specific town and price range at this time.

There are 1,055 properties with fully executed contracts waiting to close. The median list price of those homes is $335,000, 16.3% lower than the median sales price of closed homes so far this year. Indications are that the last 5 months of this year will produce a lower number of sales and lower selling prices. In various towns, we have seen the top end of the market slow dramatically as activity in the lower tier continued.

There are 485 properties with accepted offers. The median list price of those homes with accepted offers is $364,900, 8.7% lower than the median selling price of the properties that have closed so far this year.

Overall, county-wide sales in the upper tier remain just behind the rate of sales last year with 177 closed single family sales, over $2MM this year, which is .6% less than the number of sales in that price range last year. 72 single family homes over $3MM have sold so far this year representing a unit sales decrease of 4%. Sales in the upper tier started out strong but seem to have slowed during the second half.

Sellers should talk to their REALTORS® about ways to make their homes stand out above their competition and if they really want to sell they must price realistically! It is interesting to note that 15% of sales in one Fairfield County town closed at or above list price during the first 5 months of the year. Buyers recognize a fair deal and will compete with other buyers when they see a fairly priced property.

7 Tips for Decorating on a Budget

2011-04-26T10:56:00.002-04:00

In today's economy, homeowners are watching their money more closely and going out of their way to give their home a fresh look by working with what they already have.As a Member of the Top 5 in Real Estate Network®, I have access to many great home improvement resources. Home decorator Lee Evanwood offers the following advice for homeowners who are looking to decorate while staying in budget:

Rub down and stain or repaint old wooden furniture. Take advantage of that old furniture you have sitting in your basement. Simply add new drawer or door handles to achieve a new look.

Choose rugs. If the floor is already in good shape, you can get it refinished or try area rugs instead of carpeting. Not only are they chic and stylish, but they cost less, too.

Paint with a plan in mind. Try a neutral color on three walls, with a splash of color on the fourth. That splash of color can give you a starting point for further decorating.

Go with soft goods. A few new pillows or cushions that pick up the color on your accent wall can transform the look of a room. Add some inexpensive curtains, draperies or valances to help tie it all together.

Add some accents. Give a room a homey look by using baskets, vases and other small accessories to hold books and magazines, fresh flowers or craft projects.

Finish with artwork or mirrors. A pretty, framed print or two can help finish a room. Keep in mind that a mirror of any size on one wall can add depth and make the room appear larger.

These are just some of the many ways you can transform your home while staying in budget. Feel free to contact me for more ideas and please forward this on to anyone who can use a few inexpensive ways to create a new look in their home.

How to Qualify for a Mortgage in Today's Credit Crunch

2011-04-01T13:02:00.003-04:00

There may have never been a better time to buy a home than right now. Earlier this month, interest rates dropped again -- the average contract interest rate for 30-year fixed-rate mortgages decreased to 4.79% from 4.93%, according to LoanRateUpdate.com-- and there is still plenty of inventory, keeping home prices relatively low in our area.

Those positive factors, however, are often offset by tighter lending standards, causing many to shy away from applying for a mortgage. As a Member of the Top 5 in Real Estate Network®, however, I have learned that it really boils down to four main factors that will impact a lender's decision:

Your ability to make a down payment - usually between 3% and 20% of the purchase price -- of course, the larger the down payment, the better your odds of securing the mortgage.

Two years of steady employment - at the same job or in the same field.

Good (but not necessarily perfect) credit score - these days, around 660 may do it. Monthly income between two and three times the estimated monthly mortgage payment.

I have had many clients, however, who have qualified for a mortgage without completely meeting the above criteria ... so don't rule yourself out too soon. There are several other steps you can take to secure a mortgage, such as these ideas from BusinessWeek:

Meet with a lender anyway. You may find out that you qualify after all, and if not, the lender can tell you exactly which areas to focus on in order to qualify in the near future.

Ask your real estate agent if they work with a particular lender or mortgage broker. An experienced agent works with many lenders and may even offer in-house mortgage services.

Get a co-signer. This isn't easy, because if you default on a loan, the co-signer will be responsible for paying it. But if you know someone with good credit who has great faith in your ability to pay, a co-signer could be a workable option.

Plan for the future. If it turns out you cannot qualify for a home loan right now, have your real estate agent help you map out a plan for improving your credit qualifications over the coming months. If you make homeownership a serious goal, you should be able to qualify in the not-too-distant future.

For more information about applying for a mortgage, please feel free to contact me. And be sure to share this email with family and friends who might also be considering a home purchase -- this market is just too good to miss out on!

5 Tips to Better Navigate the Short Sale Process

2011-01-13T14:39:00.003-05:00

Unfortunately, with the economy’s slow recovery and still-high unemployment rates, many homeowners continue to confront difficulties in making their mortgage payments. If you’re one of these homeowners, know that you’re not alone and know that there are several options to explore prior to foreclosure, such as a short sale. A short sale occurs when the outstanding loan(s) against a property are greater than what the property can be sold for.As you’ve probably heard, however, short sales can be a drawn out and complicated process.

Here are five tips to help you create a successful short sale:

1. Get comparable sale prices and an estimate of expected closing costs to help verify the current market value of your home.

2. Determine the amount of all loans against the property. Subtract the total amount you owe on the property from the estimated proceeds of the sale.

3. Contact your lender or lenders. Insist on speaking with someone in authority about a short sale. Remember that you are asking the lender to accept less than the total amount you owe, so be firm but cooperative.

4. Be prepared to submit the necessary documentation, including a letter of authorization giving the lender permission to talk with specific interested parties about your loan. Include your name, address, the loan number, and your agent’s contact information.

5. Include a hardship letter describing how you got into a financial bind, and provide proof of your assets and income. You also may wish to include recent bank statements, with an explanation of any unusual deposits or withdrawals, and your broker’s competitive market analysis.

The short sale process requires patience—even after you find a buyer. But for many homeowners, it was well worth it. Be sure to work with a real estate agent who has experience in short sales. As a Certified Distressed Property Expert, I have had extensive training in the area of short sales. Please do not hesitate to contact me with any questions you may have.

New IRS 1099 Requirements for Landlords

2010-12-06T15:27:00.002-05:00

Starting in 2011, there is a new tax requirements for landlords. All landlords who receive $600 or more in rent for the year must send a 1099 to all service providers that the landlord paid $600 or more during the year, such as plumbers, carpenters, yard services, and repair people.
The new requirement applies to owners of both residential and commercial property. Prior to 2011, this requirement had only applied to those involved in full-time property management, but now the requirement covers all types of landlords. Landlords will need to gather federal tax ID numbers from service providers in order to file the 1099s. Failure to file the 1099s with the IRS can result in fines of $50 per 1099 not filed with the IRS. In 2012, these requirements will expand to cover providers of good to landlords.

Please call or email me if you have any questions regarding this new landlord requirement.

REALTOR Cheryl Scott-Daniels Recognized on The National Level

2010-11-18T10:35:00.001-05:00

Cheryl Scott-Daniels recently returned from the National Association of REALTORS Annual Conference in New Orleans where she was recognized and honored at the National level as the 2010 Connecticut State REALTOR of the Year!

Here is Cheryl Scott-Daniels representing the

state of Connecticut at the national conference.

Congratulations Cheryl!

CHERYL SCOTT-DANIELS NAMED THE CONNECTICUT ASSOCIATION OF REALTORS® 2010 STATE REALTOR® OF THE YEAR

2010-10-26T09:58:00.002-04:00

Cheryl Scott-Daniels, Broker/Owner of ERA Select Homes in Westport Connecticut, was named The Connecticut Association of REALTORS® 2010 State REALTOR® of The Year. This distinguished honor is recognition of Cheryl Scott-Daniels’ service to the local, state, regional and national real estate communities for the past 22 years.

The Boards of Directors for the 21 local CT REALTOR® Associations are each given the opportunity to nominate a member who meets the criteria for this distinguished award. Those nominees’ accomplishments are then reviewed by a special committee consisting of a group of geographically dispersed Directors of the 17,000 member organization. The candidates are judged for their contributions to their local board’s activities, regional, state and national association achievements, community and charitable activities as well as REALTOR® activity and professionalism.

Scott-Daniels is the 2010 Treasurer of The Connecticut Association of REALTORS®, Chairperson of the Board of Directors for The Greater Fairfield County Consolidated Multiple Listing Service(GFC-CMLS), she Chairs the Connecticut Association of REALTORS® Finance Committee, has served as the Chairperson of The Mid-Fairfield County Association of REALTORS® (MFCAR) Arbitration & Ethics panel since 1997, and has been a MFCAR State Director since 1992. Scott-Daniels chaired the Connecticut Association of REALTORS® Risk Reduction Committee in 2008 and the Professional Standards Committee in 2006. She served as the 1994 President of the Connecticut Certified Residential Specialists and President of The Fairfield County Women's Council of REALTORS® in 1993. The Mid-Fairfield County Association of REALTORS® elected her as their REALTOR® of The Year in 1993, 2002 and 2006.

On the national level, Cheryl Scott-Daniels has been a member of the National Association of REALTORS® since 1987, served on the national Risk Management Committee in 2008, Special Internet Policy Sub-Committee in 2008 and several committees of the Council of Residential Specialists from 1991-2002.

When Cheryl is not helping families buy or sell homes in the area she volunteers her time to help the local community. Cheryl has been the Chair of Facilities for A Better Chance of Westport since 2000. She is a past President and current member of the Westport Sunrise Rotary Club and was Co-Chair of the Rotary Club Foundation. She served on the Board of Directors and led the marketing efforts for Earthplace Nature Discovery Center, served on the TEAM Westport town commission, is a member of the American Cancer Society’s Women & Company and was the winner of the 2007 Athena Award, presented by the Westport Chamber of Commerce. She owns a moving truck which many local not-for-profit organizations use frequently at no cost, to assist in their fund raising activities.

Cheryl Scott-Daniels has helped hundreds of families buy and sell homes in Fairfield County over the past 22 years, holds a Bachelor of Science degree in Chemistry, an MBA in Marketing and 9 professional real estate designations; Accredited Buyer Representative, Accredited Staging Professional, Certified Distressed Property Expert, Certified Residential Broker, Certified Relocation Professional, Certified Residential Specialist, Graduate REALTORS® Institute, Professional Standards Certified Specialist, and Seniors Real Estate Specialist.

Scott-Daniels will be recognized and honored at the National level during the National Association of REALTORS® Annual Conference on November 6th in New Orleans, and at The Connecticut Association of REALTORS® Conference on November 30th.

Creating Curb Appeal || Your Home and Lifestyle Magazine

2010-09-02T15:28:00.002-04:00

In this article, as appears in the Cheryl Scott-Daniels Your Home & Lifestyle magazine, landscaping expert Scott Cohen offers practical tips on creating curb appeal:

Creating Curb Appeal Your Home and Lifestyle Weekly Article

2010-08-12T16:08:00.004-04:00

Due to long days and warm weather, many people choose to take on home remodeling projects during the summer. As a member of the Top 5 in Real Estate Network®, I have years of experience and understand how taking on a remodeling project is beneficial to you, both now and then later down the road should you choose to sell.
The following are some suggested project and tips—both large and small—for homeowners looking to spruce their homes up this summer.

Patios and Decks
Decks and patios are among the most popular summer remodeling ideas. There are various factors to take into consideration when deciding on whether a patio or deck is the most appropriate project to undertake. Such factors include soil condition and consistency, site terrain, use, capacity and privacy, as well as the cost and maintenance you are willing to put up with.

Home Maintenance

Throughout the seasons, your home has taken good care of you and your family and now is the best time to give back.

With a checklist in hand, go through your property to evaluate areas that need mending or replacement. This list will prove very helpful when contacting a contractor or handyman for maintenance/repair services. Some common maintenance and repair include:

Waterproofing the basement
Re-caulking and replacing weather-striping
Cleaning and sealing wooden decks
Trimming bushes and trees
Realigning downspouts and gutters
Repairing the roof
Cleaning the pool
Mending the fence
Maintenance of HVAC systems

Energy-Efficient Renovation
An energy-efficient summer remodel is a worthwhile endeavor as it will result in years of savings on your energy bills. Some of the common items you can buy and integrate into your energy-efficient renovation include:

Insulation systems and materials
Roofs that resist heat gain
Biomass-burning stoves
Energy-efficient windows
HVAC systems with the highest efficiency tier
Solar panels
Fuel cells
Geothermal heat pumps
Wind energy systems

Taking on one (or more!) of these projects is a great way to give back to your home this summer…and, in some cases, save you a bit of money in the long run, too!

Why You Should Buy a Home Now…Even after the Tax Credit

2010-07-13T13:27:00.002-04:00

While much press coverage has been given to the recent first-time and move-up buyer tax credit, there are many time-sensitive factors that make the current climate an exceptional time to buy a home…even without the tax credit.

As a Member of the Top 5 in Real Estate Network®, I have seen many real estate markets come and go, and I know for a fact that the many outstanding opportunities that exist for home buyers today will not be around forever.Besides mortgage interest rates that have been hovering at near-record lows, homes in many markets have become more affordable. Prices have moderated from the highs of the housing boom that occurred in most of the country, especially in major markets where they had increased significantly.

According to the National Association of Home Builders (NAHB), new construction homes are an especially wise investment for home buyers. New homes are generally built to be much more energy efficient than homes constructed a generation ago, making them more affordable to operate. Plus, new homes often incorporate open floor plans, flexible spaces, improved safety features and low-maintenance materials—making them well-suited for today’s modern families.

So, if you’re thinking about buying a home, please don’t count on interest rates or prices staying at current levels—I’ve seen them change unpredictably and quickly! Mortgage rates are sensitive to market conditions, and even a slight increase can push monthly payments beyond a family’s budget. As the country recovers from the recession and people stabilize their financial situations, NAHB economists expect that home prices will begin to increase by 2011.

For further advice on buying a home or market conditions, feel free to email me anytime. And be sure to pass this information on to friends and family who might also be considering a real estate purchase.

Easy Ways to Cut Summer Energy Costs

2010-06-22T12:09:00.002-04:00

With summer officially upon us, many homeowners will be confronted with rising electric bills as fans and air conditioners kick into high gear in an effort to keep cool. Demand for electricity can also increase if you have house guests or children home for the summer. As a member of the Top 5 in Real Estate Network®, I have access to lots of great ideas for planning ahead to control energy costs this summer. The following tips are from the experts at Public Service Electric and Gas Company (PSE&G):

Use ceiling fans in the counter-clockwise direction to create a wind-chill effect, making you feel cooler. Also, whole-house fans that bring in cooler night-time air can pre-cool a house and reduce energy use in the daytime if heat is kept out by closing windows and shades.
Install a programmable thermostat. If health conditions permit, raise the setting from 73 to 78 degrees. You can save 3-5% on your air conditioning costs for each degree you raise the thermostat.

Close doors leading to uncooled parts of your home. If you have central air conditioning, close off vents to unused rooms and be sure to keep filters clean.
Plant shade trees close to the house on the South and West sides.
Seal holes and cracks around doors and windows. Eliminate air leaks between window air conditioners and windows with foam insulation or weather-stripping.

Turn off power sources. TVs, computers and other electronic devices draw power when they are in standby mode or turned off but still plugged in. Plug electronics into power strips and turn off the power switch when the items are not in use.

Switch to compact fluorescent light bulbs (CFLs), which use 75% less electricity and burn more coolly than incandescent bulbs. Keep in mind that CFLs are especially handy in hard-to-reach fixtures and won't need to be replaced for about five years.

Use timers and motion detectors on indoor and outdoor lighting.

Delay heat-producing tasks such as laundry until later in the day. Wash full loads, using cold water whenever possible.

Run the dishwasher at night, using the shortest cycle that will get the dishes clean. If manufacturers' directions permit, turn the dishwasher off before the dry cycle or use the air dry feature if your machine has one.

Take short showers as they use less hot water than a bath.

Replace old appliances with new energy efficient Energy Star appliances.

Unplug the extra refrigerator in your garage or basement and use it only when necessary. Refrigerators that are only 10 years old can use twice as much electricity as new Energy Star labeled models.

Income Properties - Double Trouble or Two Times the Success?

2010-06-02T13:16:00.003-04:00

As you know, buying or selling a house is one of the biggest financial decisions most people will ever make. Getting the best bargain in the purchase or making the most profit on the sale give buyers and sellers so much to think about that many may never stop to consider keeping that old house – or buying another – as an income-generating property. But the rewards, in savings, profits and problem-solving, can be high.

One option for buyers who otherwise might consider home prices beyond their reach is the property that pays for itself: a house you live in part of and rent the rest of. This offers not only an obvious balance of cost and income, but perhaps lesser-known benefits in taxes and mortgage. The rental units can be depreciated over time; considered to offset the rental income, this can lower your taxes on that income. At the same time, the rent's addition to your finances helps you qualify for a larger mortgage. Of course you'll want to decide if the demands of being a live-in landlord are for you (and find out if rent-control laws in your area might limit the return on your investment).

If being an offsite landlord is more appealing, you could always keep your current home as a rental after you move into the new one. Your long-tern familiarity with the home's features and condition could lend a certain confidence both to yourself and your potential tenants. As with any investment property, you'll first want to calculate whether the rental income will cover the current expenses. Of course being a long-distance landlord has its headaches too, so you have to enjoy the challenge and be ready to meet the needs.

Owning an income-generating property is not for everyone, but – from younger buyers offsetting their purchase costs, to seniors easing the expenses of their retirement years – it can be for all kinds of people. I would be happy to talk to you about whether or not a rental property would be double trouble or two times the success.

Real Estate Market Update - Fairfield County

2010-05-03T10:47:00.002-04:00

Single family homes in Fairfield County during the first 3 months of 2010 showed both unit sales improvements and an increase in the median selling price over the same time period in 2009.

There are currently 7,997 active single family homes on the Greater Fairfield County Consolidated Multiple Listing System. So far this year, there have been 1,396 single family closed sales. This represents a unit sales increase of 28% vs. the first three months of 2009. The median selling price of single family homes on the Consolidated Multiple Listing System this year was $373,500 which is an over-all increase of 12% vs. those that sold during the first three months of 2009.

There are currently 739 active single family homes on the market over $2MM and 377 of those are over $3MM. In the first three months of 2010 there were 47 closed sales over $2MM versus only 34 closed sales over $2MM during the same time frame last year. That is a 38% increase in sales in that price range.

There are 1,187 single family homes with fully executed contracts waiting to close. The median list price of those homes is $399,000. There are 806 properties with accepted offers. The median list price of those with accepted offers is $424,000. This means that the list price of the most recent properties to get accepted offers is continuing to increase. If this price continues to track up, it would appear as though the median selling price is stabilizing and will be either flat or slightly higher during the second quarter of 2010 vs. the median selling price during 2009.

Contact me for market statistics specific to your town and neighborhood as they may vary greatly from town to town and even neighborhood to neighborhood.

REALTORS® Day at The Capitol

2010-03-30T15:14:00.002-04:00

The Connecticut Association of REALTORS®, Inc. held its 26th Annual REALTORS® at the Capitol event on March 24, 2010.

I joined over 600 REALTORS® at the Capitol and met with State Senators and Representatives to let them know our views on the issues that affect our business.

Fairfield County Real Estate Market Update

2010-03-02T15:40:00.002-05:00

Fairfield County Real Estate Market Update

There was a positive increase in market activity in the first month of this year. I am pleased to report the January 2010 sales numbers for Fairfield County which reveal increases in both units and in the median sales price vs. January 2009. This is a continued indication of stabilization of the Single Family home market in Fairfield County.

There are currently 6497 active single family homes on the Greater Fairfield county Consolidated Multiple Listing System. In January of 2010 we had 436 closed sales which represented a unit sales increase of 35% vs. January, 2009. The median selling price in January, 2010 for single family homes on the Consolidated Multiple Listing System was $388,950, which is an over-all increase of 16% vs. January 2009.

Although single family home sales among the upper price tier continue to lag, we did see some very positive sales numbers in January 2010 as compared to January, 2009. There were 16 closed sales in January 2010 over $2MM vs. 5 closed sales over $2MM in January, 2009. There were 8 sales over $3MM in January 2010 and only 1 sale over $3MM in January, 2009.

There are 909 single family homes with fully executed contracts waiting to close. The median list price of those homes is $359,900. There are 516 properties with accepted offers. The median list price of those with accepted offers is $399,000. These are important numbers, which I report each month, because they help us to project the trend in the current sales price during the upcoming months. In this case it looks as though the median sales price is stabilizing and will be either flat or slightly higher during the first few months of 2010 vs. the median sales price during 2009.

I encourage our readers to contact me for the market statistics specific to their town and neighborhood as they may vary greatly from town to town and even neighborhood to neighborhood. If our readers wish to receive market statistics monthly via email they can email me at Cheryl@CSDGroup.com.

Shopping for a Condo? Ask These 4 Questions before You Buy

2010-02-23T11:21:00.002-05:00

Condominium homes have always been, and will likely always be, an efficient and economical route to becoming a first-time homeowner. They can offer the comfort, prestige, and even luxury appointments that apartment living may lack, often at a cost that is not much different than rent. With the current first-time home buyer tax credit and the deadline for the move-up tax credit fast approaching, I advise you move fast on any condo purchase you may be considering.

With my experience as Member of the Top 5 in Real Estate Network®, I am well aware that not all condominiums are the same, however, so make sure you ask the following four questions before you buy:

What will you own? Read the bylaws and be sure you understand what you will be responsible for and what belongs to the condo association. Will you own the boat dock at the back of your unit? Can you elect to build a spa on your patio? Generally, unit owners own and are responsible for the interior of their condos, while costs for outside maintenance including common areas and sewer lines are the association’s responsibility.

Who lives there? Are the majority of residents owners or renters? Owners generally take more interest in proper maintenance and are more willing than renters to serve on the association board and enforce complex rules and regulations–including the regular collection of homeowner dues.

How effective is the homeowner’s association? Do they have legal counsel, reasonable funds and a capable, caring volunteer board? One way to judge is to check with residents about restrictions, oversight and timeliness of repairs and upgrades. Another is to take a hard look at the grounds and be wary of signs of neglect.

What about special assessments? The association should have the power to special assess for needed, one-time large expenditures. Otherwise, things that need to be done may never get done at all, leaving the complex vulnerable to disrepair and lowered property values.

Don’t miss this great opportunity to become a homeowner or to downsize by buying a condo (remember, the move-up tax credit does not require you to move to a larger or more expensive home). Please e-mail me for more tips on buying a condo and forward this information to any family and friends who may be in the market as well.

Extended and Expanded Tax Credit

2010-02-16T12:32:00.001-05:00

Cheryl Scott-Daniels explains the newly extended and expanded tax credit:

Confidence Builder: Make the Most of Newly-Constructed Homes

2010-02-09T13:40:00.002-05:00

For the aspiring homeowner, there are always some unknowns to navigate. For home-seekers looking to buy a newly-constructed home, they must also contend with fierce competition, as well as the uncertainties of buying a house, in many cases, that doesn't even exist yet.
Heightened demand has accelerated new construction. Advancing technology has allowed the selection of homes based on virtual tours of the future home's plans. Such options can help the consumer build their house to their every preference, while making it as accommodating in real life as it is promising on paper.
There are ways to minimize such uncertainties and focus on the new home's potential rather than potential problems – and these aren't limited to the structure itself. Many of these common sense preparations are ones in which the services of a real estate sales professional, such as an ERA Real Estate professional, can be a major help and a big relief. At the most basic level, such a professional can help you determine whether it's the newly-built or the pre-existing home that best suits your search.
Start from scratch. Your agent can help you decide what design options not only fulfill your needs but best fit your budget and your home's resale value. He or she can also help you to familiarize yourself with the new neighborhood; guide you throughout the construction process; and get you set up with crucial services like moving companies (one of many major tasks a nationally-known business can group in a single program, such as ERA Real Estate's Select Services).
Check into the builder's track record. You can do this by visiting other developments they've constructed and by speaking with the residents. Also, you may want to contact the Better Business Bureau to learn about their reputation and how long they've been in operation.
Know the neighborhood. Visit your local town planning office and look into what will be built nearby in the near future – where there's some construction growth there may be more, and you'll want to decide what kinds you wish to live around.
Understand what's in your contract. Do what you can to protect a favorable mortgage rate from the financial fluctuations that can occur over the course of construction. Get a thorough home inspection. And, obtain the most reliable professionals to help you in these potentially complicated tasks.
Determine if "new is for you." Despite the shiny, new bells and whistles associated with a new home, you might prefer an existing house. Purchasers of existing homes avoid contributing to suburban sprawl, enjoy the stability of established neighborhoods and infrastructures, and don't need to worry about today's fast-paced home construction industry. New home buyers, on the other hand, may be most attracted to the ease of brand-new homes with minimal maintenance concerns and a pre-planned neighborhood structure.
One happy medium an agent might steer you toward is the brand-new home that's already built. While this may be a rarity in a booming market, your real estate professional can help find one for you that can help eliminate surprises. Not to mention, it will likely fast-forward passed the inconvenience of other unfinished homes still in the construction phase around you.
With the right preparation and advice, the new-home route can lead to ready-made happiness rather than built-in headaches.

Advice for Sellers

2010-02-04T11:44:00.000-05:00

In most cases, an offer is written with standard contingencies including a home inspection and satisfactory appraisal. A seller can have their own inspections done prior to marketing so they have the time to repair or replace items. That will shorten the time from offer to closing or avoid having a buyer get discouraged and walk-away because of what they might perceive as deferred maintenance. A seller can also have an appraiser evaluate their home so they have a good idea of what a bank will approve as a selling price. As a bonus, the seller will have the inspection report and appraisal in their back pocket when it comes time to negotiate a selling price and terms.

My advice to sellers is to review their current market position with their agent. Take a close look at year-end sales to arrive at a realistic and competitive list price. Sellers need to do what’s necessary to attract serious buyers to get their property sold. Realtors® have seen the competitive inventory and therefore can make good suggestions on how the seller can help make their home stand out above the rest.

Fairfield County Real Estate Market Update

2010-02-03T11:41:00.001-05:00

Although single family home sales in 2009 were slightly slower than sales in 2008, and the median sales price was less, we did see a positive market increase in the last 4 months of the year. I am pleased to report the 2009 year-end statistics which include an increase in sales and a decrease in inventory which leads me to believe the Single Family home market in Fairfield County is stabilizing!!!

There are currently 5973 active single family homes on the Consolidated Multiple Listing System. In 2009 we had 6753 closed sales. That represents a unit sales decrease of only 4% versus 2008. The result is a 10 ½ month supply of homes currently on the market. The median selling price for single family homes on the Consolidated Multiple Listing System in 2009 was $377,000, which is an over-all decrease of 12% from 2008.

By far, single family home sales among the upper tier have been most affected by economic conditions. We currently have a 3 year supply of single family homes over $2MM on the Consolidated Multiple Listing System and a 4 year supply of homes over $3MM.

There are 813 single family homes with fully executed contracts waiting to close. The median list price of those homes is $339,000. There are 424 properties with accepted offers. The median list price of those with accepted offers is $399,000. These are important numbers, which I report each month, because they help us to determine the direction of the market. In this case we can estimate that the median sales price in the first few months of 2010 will be flat or slightly higher than the median sales price of 2009.

I encourage our readers to contact me for market statistics specific to their town and neighborhood as they vary greatly from town to town and even neighborhood to neighborhood. Please contact me if you wish to receive market statistics monthly via email or if you wish to receive a market snap shot specific to your property’s address.

Moving Tips

2010-01-29T11:39:00.001-05:00

The weeks before moving day can be very hectic. Just the word “Moving” conjures up images of heavy boxes and furniture—excitement and headaches. In an effort to help your move go as smooth and easy as possible, we encourage you to consider these helpful resources.

Your move may be simple or complex, depending on your situation, including how much you own, how far you’re moving, and how many people are moving with you. In any case, it’s a good idea to start with a thorough moving checklist that covers all the possible bases, including important time frames.Download REBAC’s moving checklist, As you review the checklist, you’ll also find that these additional resources provide valuable shortcuts:

Changing your address—an online tool from the U.S. Postal Service
Tax-deductible moving expenses—guidelines from the Internal Revenue Service

If you are moving in or out of Fairfield County and are looking for a moving company, contact me. I have an extensive database from over 22 years in the real estate business. I would be happy to give you names and phone numbers of local companies as well as feedback we have received from past clients who have their services.

I offer a FREE moving truck as a valuable service to my clients as well as charitable organizations* for use in Fairfield County. Learn more about the Cheryl Scott-Daniels Group Smart Move Vehicle. *Some restrictions apply.

Visit REBAC.net for more information on the home buying process.

When the Brood Leaves the Nest

2009-12-17T12:48:00.001-05:00

If you’re an empty nester, or about to become one, you’ve got lots of company. The number of baby boomers age 65 and over is expected to increase nearly 80 percent over the next two decades. Shifts in the age distribution of our population will result in a growing number of Baby Boomers moving to accommodations that better suit their needs.

Today’s empty nester is not the sedentary retiree of yesteryear. Senior homebuyers tend to stay in or near the same community after they retire. Most people continue to work much later in life, perhaps in an entirely new career or as a full-time volunteer who serves their community.

A major decision you are probably facing is determining exactly what you would like your next living arrangement to be. Unlike generations in days past, today it is nearly impossible to describe a “typical” empty nester’s home. Much depends on your individual lifestyle, family situation and other personal preferences.

New living options marketed to meet a diversity of lifestyles are continually appearing on the marketplace. Translating your choices of amenities, location, ease of maintenance, architectural style, etc. into the selection of your next home can be a frustrating experience. Working with an experienced real estate professional who listens to your needs and understands the market can help shorten your search for the home that is right for you.

Choosing the right real estate professional can also pay dividends when selling your current home. The Senior Advantage Real Estate Council reports that 90 percent of seniors do not put their home on the market until they have settled on their new living arrangements. At the same time, younger families are seeking to move up and out to the larger homes and apartments offered by empty nesters.

The ERA® Sellers Security® Plan has been designed for empty nesters and others who wish to remove the anxiety from the process of selling their home. The Sellers Security® Plan guarantees that your home will sell at a pre-determined price within 180 days of listing your home. Simply put, “If we don’t sell your house, ERA will buy it®.”

The Sellers Security® Plan is a guaranteed sale plan offered in all 50 states. An attractive feature of Sellers Security is the ERA® system’s exclusive Five Point Marketing Plan, which covers all the bases for a quick and hassle-free sale, by maximizing the marketability and sales potential of your home.

Fairfield County Real Estate Market Update

2009-11-04T12:00:00.001-05:00

Fairfield County Real Estate Market Update

The positive increase in market activity we saw in August held true in the month of September. We experienced a small decrease in the supply of homes active on the market and witnessed a smaller decline in unit sales this year versus the first 9 months of 2008.

There is a healthy, active inventory of 7,556 single family homes on the consolidated multiple listing service. To date, we have had 4,755 closed sales. This represents a unit sales decrease of 15% vs. the first 9 months of 2008. The result is a 14.3 month supply of homes currently on the market. The median selling price county-wide is $376,500, which is an over-all decrease of16% vs. last year. This number is down slightly from August. This is a county-wide number and not the case in every town. Remembering that all real estate is local, there are definitely differences between towns within Fairfield County. It is very important that you talk to your REALTOR® about the towns in which you have specific interest about the advantages of buying or selling at this time.

As has been the case over the past 9 months, sales among the upper price tier are slower than other price ranges. Sales over $2MM represent just 3% of homes that have sold but 9.5% of homes on the market waiting to sell. Sales over $3MM represent less than 1% of the total homes sold but 5% of homes currently listed for sale.

There are 1000 properties with fully executed contracts waiting to close. The median price of those homes is $350,000.

There are 565 properties with accepted offers. The median list price of those with accepted offers is $394,500.

With the healthy inventory of homes on the market, we stress to our sellers the importance of making their home stand out above the competition. This includes staging as well as competitive pricing. Sellers should talk to their REALTOR® about steps they can take to help put their home at the top of the buyer’s list!

Fairfield County Market Update

2009-08-07T14:45:00.004-04:00

For up to date information on the Fairfield County Real Estate market listen to my podcast. As always, please contact me for a more specific market information as it directly relates to you and the sale or purchase of your home.

Purchasing A Home

2009-07-06T12:36:00.004-04:00

When buying a home, it’s important to think carefully about your offering price and your offering terms. In some cases, terms and conditions can represent thousands of dollars in additional value for buyers—or additional costs.Terms may include inspections, requests for specific property repairs, or timing considerations, such as a conditional purchase clause.
Determining a price
Some buyers mistakenly believe there is a predetermined formula for offers—that offering prices should be X percent lower than the seller’s asking price or the amount they are really willing to pay.In practice, your offer price actually depends more upon the basic laws of supply and demand. If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes even more. If demand is weak, then offers below the asking price may be in order.
How to make an offer
The process varies by state. In most cases, you complete an offer that your representative presents on your behalf. The owner, in turn, may accept the offer, reject it or make a counter-offer. Because counter-offers are common (any change in terms can be considered a “counter-offer”), it’s important that you remain in close contact with your representative during the negotiation process so that any proposed changes can be quickly reviewed.
Inspections
Inspections are common in residential realty transactions.Structural inspections are particularly important. During these examinations, an inspector evaluates the property for any material physical defects and whether expensive repairs and replacements are likely to be required in the next few years.For a single-family home, these inspections often require two or three hours. You should plan to attend too. This is an important opportunity to examine the property’s mechanics (plumbing, wiring, etc.) and structure, ask the inspector questions and learn far more about the property than is possible with an informal walk-through.

For more information please visit REBAC.net.

Fairfield County Market Update

2009-06-03T10:53:00.003-04:00

The spring market is in progress. New listings are hitting the market each day. Buyers are out looking and buying. During 2009, the average number of single family homes selling monthly increased from 243 last month for the first 3 months of the year to 256 this month for the first 4 months of 2009. The highest selling home sold for $6,000,000 and the lowest was well under $100,000 highlighting the diverse supply of houses in Fairfield County. The low was a Bridgeport townhouse which sold for $22,500. Currently, there are 512 single family homes with purchase agreements in place vs 441 last month. There are 684 homes with fully executed contracts, just waiting to close as compared to 568 contracts last month. Prices are lower than they’ve been in the last several years, in some towns and there are a large number of houses from which to choose. The median selling price, county-wide in the Greater Fairfield County Consolidated Multiple Listing Service is $460,000 down 18% vs. this time last year. Interest rates are at a 40 year low. Now is definitely the time to buy a house.There is even an additional incentive for first time buyers or those who haven’t owned a home during the last 3 years. The federal government is offering an $8,000 tax credit to those who close before November 30, 2009. One of my listings over $2,000,000, received two offers with a third buyer asking if the sellers would consider an additional offer. On another of my listings priced at $700,000, I received three offers in less than 3 weeks on the market. Clearly, buyers now recognize value and are capitalizing on the interest rates before it is too late.

No Time Like The First Time

2009-05-21T10:46:00.005-04:00

If you are contemplating the purchase of your first home, congratulations! As you probably know, buying a home is one of the biggest financial commitments you can make. It is also a process filled with emotion, and a touch of anxiety. To help keep you sleeping soundly, here are answers to three big questions that concern many potential first-time homeowners.

Question #1: How do I decide what to look for in a home?

It’s easier than you think. Sit yourself down and list what’s important to you in a home. The purchase of every home involves making tradeoffs, so be sure to prioritize your list.

One element is architectural style. Do you prefer a Colonial, a Cape Cod or a modern look? An important factor to consider is living space. How much room do you need right now, and to meet anticipated needs?

Make a list of features that must be a part of your home. Perhaps that Olympic-size pool and tennis court can be put off for another day, but you may absolutely need an eat-in kitchen NOW! It’s all a matter of your taste and personal style.

Question #2: Where should I begin the search?

That old real estate adage about “location, location, location” aside, choosing where to live is usually determined by your personal circumstances and desires. Do you have a particular community, or even a particular block, in mind?

What is it about the location of your new home that is most important to you? Do you prefer an urban, suburban or rural setting? Consider proximity to work, schools, shopping, entertainment and houses of worship. Once you’ve narrowed your list of potential candidates, the Internet can be an excellent tool for learning what a particular community has to offer.

Question #3: How can I find financing that makes sense for me?

Interest rates are lower than we’ve seen in decades. Still, the last thing you want to do is start out in your first home saddled with an uncomfortable level of debt. Seeking the advice of a professional who can give you the lowdown on financing options that match your qualifications is a big step in the right direction.

Once you’ve narrowed your search, talk to a real estate professional that serves the community you’d like to call home. Cheryl Scott-Daniels Group and ERA Select Homes associates are trained to guide you through your purchase every step of the way. Our Web site, YourFairfieldCountyHomes.com, brings up-to-date listings directly to you. We work closely with lenders who can offer loan programs designed to meet the needs of qualified first-time homebuyers.

The path to finding your first home is sure to be full of twists and turns. Once you’re armed with the answers to the big questions, the search can be fulfilling, and even fun!

Staying Power: The Joys and Challenges of Historic Homes

2009-03-25T10:37:00.005-04:00

Real estate professionals like to offer as many kinds of properties to prospective customers as there are different personalities of buyers. And few real estate properties have more personality than a historic home.
By the standards of the National Trust for Historic Preservation, any structure at least 50 years old may qualify for historic-landmark status. This is determined by a home or other building's demonstration of particularly significant architectural features or now-rare styles, or its role in important past activities or events (famous inventions, once-pivotal industries, presidential birthplaces or visits, etc.).
To be sure, such homes present many challenges. The older the house, the more likely certain toxins will be present that aren't in newer homes (such as asbestos and lead paint); these will have to be dealt with. And restoring the historic character to a possibly-neglected house can be a costly and time-consuming effort.
But there's much to be said for the personal satisfaction of remaking a house by your own effort, and restoring an example of America's past that can help keep us mindful and proud of our heritage. Also, where there are historic homes there are likely to be whole historic neighborhoods, which preserve and offer to the homebuyer just the kind of old-fashioned community qualities that today's home-seekers are craving and today's developers are trying to re-create.
If your home is on or considered eligible for local, state or national registers of historic places, various rules will be in effect for building materials, renovations, and uses of the structure which most fit the historical period in which it was built. Although these requirements can be an inconvenience, many states offer tax and other incentives for owning and rehabilitating historic homes found to meet historic-preservation officials' criteria. And owners of homes on government registers of historic places still have broad latitude in selling, altering and using their property.
Before buying such a home, you'll want to check into several factors to determine whether the investment you're making in history is the right one for you: What laws apply to local historic buildings and districts, how much restoration does the house require, and what contractors are available who are knowledgeable about handling historic homes are a few of the major questions you'll want answered before making a commitment.
A qualified real estate professional can help guide you through this rewarding but complicated area. Proper preparation and the right professional expert can help ensure that your historic home will give you nothing but happiness to look back on.

Connecticut Foreclosure Assistance

2009-01-19T15:38:00.004-05:00

Help for Sellers Facing Foreclosure
A Foreclosure Mediation Program was created in response to the surge in foreclosures (many homeowners are struggling with their mortgage rates adjusting upward) and the recognition by Judicial, Legislative and Executive Branch officials that there needed to be a way to improve the way foreclosure cases were processed. Our legislature passed Public Act 08-176, An Act Concerning Responsible Lending and Economic Security, which was signed into law in June 2008 by Governor Rell and went into effect July 1, 2008. Under the Act, the Chief Court Administrator was required to create a foreclosure mediation program by July 1, 2008. The goal of CT's Foreclosure Mediation Program is simple - try to keep the homeowners in their homes. The program is the first unified and mandated program in the United States and requires borrowers and their lenders to meet face-to-face so they can negotiate an agreement.

Here are the numbers. The program went into effect July 1, 2008, and as of October 31, 2008, 680 cases have completed mediation with the following results:
361 owners (53%) stayed in their homes, and of those, 270 (40%) had their loans modified, 24 (3%) were reinstated, and 67 (10%) entered into a forbearance plan;
116 owners (17%) moved out of their homes because of a short sale, a deed in lieu of foreclosure or a foreclosure sale date; and
203 cases (30%) were not settled; and
when you combine the "staying in home" and the "moving from home" categories, there's a settlement rate of 70%.

The mediation sessions are held at courthouses throughout the state and the mediators are Judicial Branch employees trained in foreclosure law and mediation. An owner/seller does not need an attorney to participate and everyone who signed the mortgage must attend. This program is a winner all around. The homeowner/borrowers facing foreclosure may get to stay in their homes by negotiating new loan terms with their lender's representative, the lender ends up with a performing loan and is repaid under new or modified terms, and the number of foreclosure cases coming before the court is drastically reduced.

Please visit The Connecticut Association of Realtors website for more information

*information obtained from The Connecticut Association of Realtors

Fairfield County Real Estate Market Update

2009-01-02T10:37:00.005-05:00

The sales rate of single family homes in Fairfield County throughout 2008 has remained consistent and although sales numbers are down from this time last year, inventory continues to move. There have been 4871 closed sales and an active inventory of 4848 home on the Greater Fairfield County Consolidated Multiple Listing service. That represents a unit sales decrease of 29% vs. 2007 resulting in an 11 month supply of homes on the market, currently. The median selling price county-wide is $505,000 down 10% from the median selling price this same time last year.

Sales over $2MM represent just 5.2% of homes that have sold but 12% of homes on the market waiting to sell. Sales over $3MM represent 2.1% of the total homes sold but 6% of homes currently listed for sale.

There are 360 properties with fully executed contracts waiting to close. The median price of those homes is 25% lower than the median price of closed homes so far this year. There are 179 properties with accepted offers. The median list price of those with accepted offers is $410,000, 18.9% lower than the median selling price for the properties that have closed so far this year.

Sellers and Buyers should talk to their REALOR(R) about market numbers specific to the town they are looking to sell or purchase in.

First-Time Homebuyer Tax Credit

2008-12-16T12:59:00.004-05:00

Great news for first time home buyers!

Congress has created a temporary federal income tax credit available to first time home buyers as a part of the “Housing and Economic Recovery Act of 2008”.

The amount of the federal tax credit is for 10% of the cost of the home, up to a maximum credit of $7,500. In essence, this is an interest-free loan that enables consumers to receive a tax credit on a dollar-for-dollar basis on their personal income tax return in the calendar year following the year of closing on their home. They begin paying the tax credit back the year after that and make equal installments during the next 15 years. If the homeowner sells the home at any point during the 15-year payback period, then the remaining amount is recaptured, unless they sell the home at a loss, at which point the balance is forgiven.

Now is the time for a first time home buyer to make their purchase! For more details please visit The National Association of REALTORS(R).

Fairfield County Market Update

2008-12-01T11:09:00.008-05:00

Single family homes on the Greater Fairfield County Consolidated multiple listing service, during the first ten months of 2008 continue to sell but lag behind last year’s pace. To date, we have 4,579 closed sales and an active inventory of 5,094 homes. That represents a unit sales decrease of 28% vs. 2007 resulting - in 11 month supply of homes on the market, currently. Inventory is down from a 13 month supply earlier during September of this year. As we move into the first of the year, we expect inventory to begin its normal seasonal increase. Some sellers will begin to list after the holidays with the number increasing as we move into the spring season when our beautiful perennial plants and trees begin to bloom. The median selling price county-wide on the Greater Fairfield County Consolidated mls is $515,000 down 8.8% across the total number of houses sold in all Fairfield County towns, on the Greater Fairfield County MLS. Of course the difference varies by town and by property price range. So it is important that our listeners ask their REALTOR the specifics about the town and price range in which they are interested.

Sales, among the upper price tier has slowed significantly more than other price ranges. Sales over $2MM represent just 5.4% of homes that have sold but 12.3% of homes on the market waiting to sell. Sales over $3MM represent 2.2% of the total homes sold but 6.1% of homes currently listed for sale.

It is also interesting to note that the median list price of the active single family homes is 36.2% higher than the median list price of the homes that are under contract and 34.7% higher than the median list price of those homes which currently have accepted offer. This would seem to indicate that unless there is a sudden change in market performance, the upper end has slowed substantially more than the average and lower price ranges and also that sellers who are realistic about market conditions are being successful at reaching agreement with buyers.

There are 347 properties with fully executed contracts waiting to close. The median price of those homes is 30% lower than the median price of closed homes so far this year vs only 15% lower through 9 months year to date.

There are 220 properties with accepted offers. The median list price of those with accepted offers is $404,499, 27.3% lower than the median selling price for the properties that have closed so far this year.

Interest rates have decreased due to government support of loans and lenders’ insurance against losses. This a great time to purchase a home. Buyers who wait might find slightly lower prices but an increase in interest rates could result in the same payments or higher for a lower priced house.

Sellers should talk to their REALTORS about ways to make their homes stand out above their competition and if they really want to sell they must price realistically! Buyers should be cautious in their selection of lenders. It is critical that they find a reliable lender who will still be in existence, with the funds for their closing.

Fairfield County Market Update

2008-11-05T12:29:00.003-05:00

Single family sales on the Greater Fairfield County Consolidated multiple listing service, during the first nine months of 2008 continue to lag behind last year’s pace. To date, we have 4,163 closed sales and an active inventory of 5,252 homes. That represents a unit sales decrease of 29% vs. 2007 resulting -in 11.4 month supply of homes on the market, as we move into the slower selling months. The median selling price county-wide on the Greater Fairfield County Consolidated MLS is $520,000 down 8.8% but that includes a range of prices differing by town with increases in some towns and decreases in others. So it is important that you ask your REALTOR the specifics about the town that interests them.

Buyers are being very cautious. They don’t want to overpay in a declining market. Lenders are also being very cautious. They are instructing their appraisers to take a conservative approach in determining property value.

The top end of homes sold continues to represent a disproportionately low percentage of sold properties. Homes over $2mm represent 5.8% of the total and those over $3MM represent 2.5% of the total.

Among the properties currently on the market, 12% are over $2MM and 5.9% are over $3MM. That is more than double the percentage of homes in those price ranges that have sold this year. It is also interesting to note that the median price of the active single family homes is 20% higher than the median list price of the homes that are under contract which would indicate that unless there is a sudden change in market conditions, sellers will have to reduce prices to get their homes sold.

There are 441 properties with non-contingent contracts waiting to close. The median price of those homes is 15.8% lower than the median of the closed homes so far this year.

There are 239 properties with accepted offers. The median list price of those with accepted offers is $392,000, 24.6% lower than the median selling price for the properties that have closed so far this year. This shows that the sales rate is slowing and that is expected at this time of the year. But it also shows that the median price of those properties that are selling is decreasing. If this pattern continues, those sellers who sell first will get more money.

Interest rates are increasing and although they are expected to continue to fluctuate, the trend over the next year is expected to be upward. Thus, this a great time to purchase a home. Buyers who wait until interest rates rise might as a result get less house for the same monthly payments if they purchase at a higher rate.

Sellers should talk to their REALTORS about ways to make their homes stand out above their competition and if they really want to sell they must price realistically! Buyers should be cautious about working with reliable lenders. Many lenders are currently heavily leveraged and buyers should remain in constant contact with their REALTORS and lenders and close as quickly as possible.

ERA International Collection

2008-10-07T14:20:00.003-04:00

ERA® International Collection: Where to Find Luxury

Where do you find luxury? It is not uncommon to find it reflected in the affluence of a magnificent home. In today's real estate market, finding just the right luxury home in a gracious neighborhood can seem like a challenge. If you are looking for a luxurious home, then it is crucial to choose a sales professional who specializes in the high-end market.
ERA® International Collection home specialists are trained and certified to provide customers the best quality service, project just the right image, and utilize unique marketing, advertising and communication skills essential to the buying and selling of luxury real estate.
High-end buyers are individuals, each looking for a certain home that is suited to his or her own impeccable style and taste. International Collection sales professionals mirror their customers' appreciation of a broad range of architectural tastes, historical styles, and selective home criteria. To make finding these homes less tedious, the International Collection provides customers an exclusive Web site that puts cutting-edge technology at their fingertips, to search for real estate listed in the $1 million scale and above, as well as properties in the top 10 percent of their respective marketplaces.
Consumers can enter the Web site directly by visiting www.ic.ERA.com, or link to it from the home page of www.ERA.com by clicking on the International Collection logo. A photo and description of the property appears, and consumers can click on the listing for additional information. Moreover, most properties on www.ic.ERA.com contain virtual tours of rooms and outside views of the architectural landscape.
Effective communication puts motivated buyers and sellers together to sharpen the search for the most serious prospects. As an ERA® International Collection sales professionals, I have access to a national network of experts who can help locate the kind of distinctive properties desired by those in the luxury market.
You deserve the finest service when buying or selling your home. Consider the benefits of the ERA® International Collection.

Fairfield County Market Update

2008-04-04T11:24:00.003-04:00

National reports where we hear and read about double digit housing price declines, do not apply to our local market. Even within Fairfield County, individual towns perform differently. Overall, single family homes within Fairfield County that are listed on the Greater Fairfield County mls show a 7.6% decrease in median selling price during the January/February 2008 period vs the same period during 2007. 642 homes closed during the first two months of this year vs 917 last year, a decrease of 30%. There are 573 under contract without contingencies, just waiting to close and 332 homes with accepted offers and open contingencies. There are 5197 homes actively listed for sale. That represents roughly a 16 month supply of homes.

The upper price tier continues to perform well. 5% of homes sold this year were at $2MM or more vs 4.7% in 2007. The highest sale was $6,750,000 for a home in Darien and the lowest was $11,200 for a mobile home in Danbury. 12% of those homes under contract are listed at $2,000,000 or higher.

To give you an example of the variances between towns, contrary to the county-wide performance, the unit sales in Westport, Weston and Easton were even with last year and the median selling prices in those towns was higher than the same period last year. In Wilton unit sales dropped 16% but median price increased. Unit sales in Fairfield also declined while the median price increased.

Inventory is strong, interest rates are near a 40 year low and some sellers are motivated. This is a great time to buy a house. For owners who are contemplating selling within the next year or so, I suggest staging their homes to get top dollar, making their homes easily accessible to agents for showings and listing as quickly as possible before the inventory builds during late spring. It is also more critical now than ever to hire an experienced and knowledgeable agent to represent them and help them avoid the hurdles that can be encountered in this market.

Please contact me for more information on the housing market and how it directly relates to you, your current home, and your future home.

Using Your Energy Wisely: Alternative Energy in the Home

2008-03-28T10:16:00.005-04:00

Energy costs are on everyone's mind, and alternatives are a hot property – though many homebuyers aren't sure how to find and evaluate them. There are a number of technologies to choose from which can help make your next house the home of the future.

Alternative energy gives new meaning to the real estate mantra of – what works in sunny California may be different from what works on the windy plains. But just as there are many styles of homes for buyers' diverse tastes, there are varied options in energy systems ® with more than one sometimes working hand-in-hand for the same house.

Wind power – an ancient energy source now seen in high-tech "windmill farms" with tall propeller-like turbines – has come down in the cost for generating electricity by over 80 percent since 1981. Geothermal energy – home heating powered by underground steam warmed up by the temperature of the earth itself – is a source getting more attention in the American West.

Relocating homeowners can choose to move to areas where wind generation is lowering electricity costs, while geothermal energy has applications for both large-scale power plants and individual homes. There has also been progress in residential settings with fuel cells, power systems that convert natural gas fuel to electricity through a chemical reaction with hydrogen, producing just water as a byproduct.

Perhaps the most familiar and popular source of renewable alternative energy remains the sun itself. Photovoltaic (PV) systems, which convert sunlight to electricity, have shown great energy-bill savings and homeowner satisfaction. These systems, which have been likened to a car that makes its own gas, are now available in the form of roof tiles that can integrate attractively with regular roofing.

Households that use roof tiles have found some 80 percent of their electricity needs supplied by them The homes can remain on the conventional power grid for the rest; at sunnier times when the home produces more energy than it can use, it goes back into the grid and credits the homeowners' account, literally turning back their electric meter. Across the country rebates from utility companies and tax credits from government are available for such setups. It's a way of contributing not only to the global community by using up less nonrenewable energy, but also to your own neighbors by freeing up conventional power.

Solar tiles are growing in popularity with home-development builders, and are seen as paying for themselves in savings and simplicity of maintenance. The savings increase considerably in combination with energy-efficient appliances. For example, in Sylmar, California's Village Green complex, this mix is a standard feature and the average resident has been shown to pay one-tenth in monthly utility bills what other town residents pay.

Your local real estate professional can help advise you on what energy alternatives are most available and may work best in your area. A little shopping around may shed light on options that make yesterday's technological dreams today's homeowner dream-come-true.

Six Reasons to Use a Realtor

2008-03-06T14:21:00.002-05:00

Why pay a Realtor® a commission to sell your home? After all, more than 10% of homeowners attempt to handle the sale of a home themselves, a statistic that has held pretty steady over the years regardless of market conditions. Before making a decision about whether to go it alone, it is important to have a realistic idea of what is involved in the biggest financial transaction most of us are likely to make. Why work with a Realtor®? Here are six reasons to consider:

Reason #1 - Realtors® know your market. Realtors® are in a position to know what’s happening in the real estate market, not just in your state and your community, but in your neighborhood. As trained professionals who may have seen hundreds of homes similar to yours and know their features and selling prices, a professional is well qualified to set a price that can bring the maximum number of offers for your home.

Reason #2 - Realtors® sweat the details. Accurate pricing, qualifying potential buyers, positioning advertising for maximum exposure, evaluating potential offers, negotiation and closing the sale are some of the basic skills needed to successfully sell your home. Then there are environmental, government and disclosure requirements that must be followed.

Reason #3 - Realtors® know marketing. Marketing that attracts offers, not just lookers. A coordinated marketing campaign using the right combination of print advertising, direct mail and the Internet ensures your home receives maximum exposure. And an experienced Realtor® can advise you on cost-effective strategies for ensuring your home looks its best to potential buyers.

Reason #4 - Realtors® are pros at bringing buyers and sellers together. A Realtor® may already have a buyer for your home! Successful Realtors® are continually replenishing their rosters of potential buyers, as well as networking with other real estate professionals who may have the perfect buyer for your home.

Reason #5 - Realtors® reduce stress. Are you prepared to show your home in the middle of the day? Every weekend? Realtors® have the time to show your home whenever it is convenient for a potential buyer. It’s their job. And they are available to respond quickly and courteously to inquiries by phone call, email and fax. Think of a Realtor® as your personal home sales assistant.

Reason # 6 - Realtors® are experienced negotiators. Realtors® can help avoid costly errors during the negotiation phase of a transaction. As experienced negotiators, they can help maintain objectivity during what can often be an emotional time for sellers and buyers. And the ability to deal successfully with any issues that crop up often calls for just the right combination of firmness and diplomacy.

Whether you are a seller or a buyer, perhaps the biggest benefit real estate professionals have to offer to you is their experience. They have made assisting buyers and sellers their business, so that you can get on with the business, and pleasure, of realizing your dream!

Making Your (Dog) House a Home: Moving With Less Stress for Your Pets

2008-02-18T12:21:00.002-05:00

Anyone who has ever moved knows that there are seemingly a million and one tasks to remember, from selecting a moving company to switching off utilities. All of the adjustments and changes involved in moving to a new home can be even more challenging when you have a pet. But there are ways to prepare to minimize the stress to your furred, feathered and finned friends.
The preparation process can be as crucial a stage as the move itself – familiar settings are disrupted as furniture gets moved and belongings packed away. A cat or dog will wonder who all these strangers are (potential buyers, inspectors, movers, etc.) and what's happening to the pet's familiar "territory" (changed location of litter boxes, favorite sleeping places, etc.) – which is how an animal sees your home.
For that reason, it's actually a good idea to change the "landscape" a little more – on the animal's behalf. Designate a room to remain just for your pet while the move proceeds around them, with their familiar toys, food and water bowls, sandbox (for cats), and so forth. This way they'll have a reassuring (if rearranged) space to spend the moving process in. It will also minimize the chance of escape by anxious animals while people are coming and going from your house more than usual, and reduce the danger of a scared cat hiding itself in the moving boxes with potentially tragic results.
Such precautions help calm your pet for the developments ahead – the move itself is stressful for pets and people alike, though this too can be minimized. If you're flying, check ahead to see which airlines allow pets as "carry-ons." The cargo bay is a possibility, but will isolate and possibly frighten your pet. In either case, anxiety and exposure to the elements will be lessened if you can book a direct flight.
If you drive, make sure you know where to find hotels that allow pets rather than leaving them in the vehicle (never a good idea in terms of safety or exposure to changing temperatures), and, especially with a dog, schedule frequent "rest stops" for both animal and owner. For birds, rodents and fish, "homes away from home" can work well – transport your bird or hamster in its cage, and your fish in a plastic container of water, roomy enough for the number of fish and changed regularly for long trips.
It's always a useful idea to consult a veterinarian for all the fine points, and a qualified real estate professional to help with all the questions a house-move poses; pet-compatible services are one of many matters a real estate sales associate can look into for you. With some advance planning and help from local experts, Fido's longest walk can have a happy destination.

A Good Showing: Dressing Your House for Sales Success

2008-02-05T10:57:00.000-05:00

As important a landmark as buying a home is in people's lives, you'd be surprised at how much of it can turn on snap decisions. If you're selling a house you'll have to put careful thought into customers' first impressions, because many sales will be made or lost before they reach the front door – or as soon as they walk through it.

First consider "curb appeal" – the feeling customers get from the upkeep of the house and grounds, and how comfortable this makes them imagining themselves as a resident. You want to do everything you can to make them see your house as their house, both outside and in.

A new paint job is an investment that will more than pay for itself, and neat landscaping – trimmed shrubs, new flowers – puts your prospective buyers in just the right frame of mind. Inside, kitchens and bathrooms should be in sparkling condition – these rooms are known to be what makes up many home-seekers' minds. Removal of odors like pet smells and smoke will lessen distractions for customers you want focusing on your home's possibilities, and clearing of clutter is crucial.

The less belongings you have crowding your rooms and closets, the bigger the home will appear, and the easier it will be for potential buyers to envision placing their own possessions there. Put some things in storage if you need to, or hold a garage sale to help cut down on some of the build-up you were going to clear out for moving anyway (just hold it before buyers can see the piles on your lawn or the cars lined up on an otherwise peaceful street). For buyers picturing themselves in your home, it's also good to present the house in as general taste as possible – personal memorabilia, collectibles, and eccentric wall colors and furnishings should go out with the clutter. Repainting rooms in a neutral white also helps convey the sense of spaciousness.

Clean windows, fresh flowers, and other small details with big impact – they're what you want to remember. From major improvements which guarantee a return on your investment, to subtle touches that tip the scales in your favor, the features of a house that we often take for granted can be the ones that determine your homeselling success. According to the National Association of Realtors®, curb appeal alone accounts for half of all home sales.

A little effort now saves you a lengthy process later. First impressions will expedite the sale, and securing the services of a qualified Realtor® will make it all the surer. A real estate professional can guide you in all the above matters and more, from supplying a checklist of presentation tips, to recommending affordable painting contractors from his or her industry connections, to helping you rearrange the furniture. Whatever it takes, we can give you confidence that, for some buyer soon, the showing of your home will be love at first sight.

New Kid on the Block: Moving With Children

2008-01-18T12:10:00.000-05:00

Moving is a major change for all members of a family. Adult responsibilities weigh heavily when keeping track of all the tasks needed to make a move go smoothly. If you have children, this may be a difficult time to focus on their problems, too, but it's also one of the most crucial times to keep their concerns in mind.

Sometimes what seems like a major disruption to grownups is viewed as an adventure to the kids. Still, changing homes can also upset feelings of stability (in the case of younger children) and belonging (in the case of teens). These are special concerns for these age groups.

The most important thing a parent can do is maintain normal routines as much as possible – and when it isn't possible, to let the kids know that apprehension about a big life change is normal, too. Try to keep calm about the move yourself, and your children will be more likely to follow your lead. It is advisable to be open about what's happening and how everyone feels about it.
This means keeping your kids in the loop at each stage of the move. They don't have to get a vote, but it helps everyone for them to get increasingly used to the idea of this change. Bring them along when you look at houses, make them familiar with the new area you're moving to, and investigate its attractions (including the athletic or extra-curricular offerings that appeal to your kids). Exploring some of this on the Internet is a good way to relate your relocation to an activity they already enjoy.

Encourage your children to express any worries, and do what you can to reassure them. If you went through similar experiences as a child, you can share how you dealt with it – if it was easy, so much the better, and if it was hard, your children will know they're not the only ones who have ever had to deal with change.

Other neighborhood kids may grow distant when they know a friend is leaving. This is hurtful to your own children, but try and explain that some kids aren't yet mature enough to handle it another way, and that it isn't your kids' or even the others' fault.

Minimizing transitions and heading off family disputes are each essential to a smooth move with children. Try and arrange visits to the new school and meetings with the new teachers before the school year or semester starts. When you have more than one child, make bedroom assignments in the new house as soon as possible to avoid sibling strife (comfort, privacy and age seniority are all issues of kid politics that it is sometimes easy for grownups to forget).

Above all, be open and patient. If you pay the right attention, you will be letting your children know that, move or no move, the most important people in their life aren't going anywhere.

Career Path: Becoming a Realtor

2008-01-11T16:28:00.000-05:00

Real estate professionals and customers alike give a good deal of thought to what the Realtor® can do for the homebuyer or seller. A question that may not get asked as often is why Realtors® do what they do. It's worth asking, both for focusing the real estate agent on how to get the most out of his or her profession and do the best for his or her customers, and for the customers themselves, to help them decide which Realtor® most suits their needs. Considering why real estate professionals do what they do may even help customers decide if it's something they might want to do, too.

Recruitment is an important part of any profession. Real estate companies want extensive teams of talented agents, and even when other companies acquire such talents, I welcome the competition to keep me sharp. The answers to why I am a Realtor® can serve to guide aspiring sales associates just starting out.

First, it's about helping people. Having a place to call your own is a reward we all seek and a need we all share, and helping realize homeownership dreams for others is a major source of my job satisfaction. It makes me feel that I've contributed to my community.

Then there's the satisfaction of self-reliance. Though my ERA® real estate company offers friendly cooperation with a first-rate team, each individual member can be as successful as his or her ambition and effort allow. My advancement is up to me, and it's a challenge I'm proud to meet.

Still, it's always encouraging to know you've chosen a winning team, too. Not only is ERA Real Estate a leader in its industry, offering state-of-the-art tools and services to attract customers and earn their loyalty, but the real estate industry itself has stayed strong in tough times. Housing is something that will always be in demand, and I can be the professional people turn to for it.

Of course, there are other reasons to be a Realtor® that are specific to each company, and each individual. I'm comfortable and confident working where I do because of the advantages the global ERA® system makes available. It supplies special resources to expedite home sales and purchases, like the extensive listings on our Web site ERA.com, which is visited by more than six million customers a month. It provides unique assurances, like the ERA® Sellers Security® Plan, which guarantees "We Will Sell Your House, Or ERA Will Buy It!®" It offers one-stop-shopping opportunities for everything a real estate consumer might require – from moving services to rental cars – through the companies enrolled in our ERA® Select Services® program. And it gives me tools to meet the special needs of specific customers, from the growing senior population to the influential Spanish-speaking community.

These are just some of my reasons for being a Realtor®. The feelings of accomplishment and service, be it as a rewarding first career or a challenging new one, could be your reasons too.

Service Is Golden: Real Estate Programs to Put Seniors' Minds at Ease

2008-01-04T14:04:00.000-05:00

The mature years can be the best time of life – retirement has come, the kids are grown and you can enjoy the results of your hard work and smart choices with all your loved ones. And now is a good time to be a senior – the U.S. Census Bureau says that the mature population is expected to jump nearly 80 percent by the year 2025, and business is already taking note, with many programs to suit seniors' special needs.

That's only right, since, even with all the rewards of a life well-spent, the golden years can bring unique concerns not previously encountered. The prospects of moving for the first time in years or even decades, selling a beloved family home, maintaining rental properties, and navigating related tax issues are all special considerations that call for special service.

For reasons like these, the real estate industry has established a special organization to address the unique needs of this fast-growing and significant part of the American family: the Senior Advantage Real Estate Council (SAREC). SAREC has in turn established a certification program by which Realtors® of all ages are schooled in the specific interests of senior homebuyers and sellers. The "Seniors Real Estate Specialist" (SRES) designation qualifies professionals to answer the many questions on the minds of mature customers contemplating their retirement moves.
SRES holders can help guide you through the complexities of selecting your next home for maximum quality of life, considering such factors as accessibility of homes (not too many stairs, high cabinets, etc.); availability of public transportation and senior services; comfort-level of climate and terrain; and much more. These Realtors® also have access to referral networks that can help put you in touch with qualified professionals and suitable housing nationwide.
Your local ERA Real Estate office participates in the SRES program. Among the many other advantages provided by our trained professionals is the ERA® Sellers Security® Plan*, which offers the relief of a guaranteed sale of your current home for those who need to move into their new one in a specified time (as can often be the case with commitments to purchase a new house or deadlines to join a retirement community). Unmatched among national real estate brands, the Plan promises that "We Will Sell Your House, Or ERA Will Buy It!®", and it's just part of the array of methods we have to meet your unique needs.

In the senior years or any other time, buying and selling homes is one of life's most important decisions, both financially and emotionally. It shouldn't have to be the most stressful and complex, and there are programs and professionals in place to make sure it's the opposite. With the right Realtor®, you can be the "senior" partner in your own lifetime satisfaction and sales success.

Age Differences: Old Homes vs. New

2007-12-28T10:39:00.000-05:00

Of the many concerns to weigh when buying a new house, a major one is whether to buy a new one in name only: both state-of-the-art properties and distinguished older homes have their attractions – and possible drawbacks.
In making this decision, it's important to literally leave your preconceptions at the door of any home you're considering. Quality construction can appear in any era, and you just have to be knowledgeable about the strengths and problems to look for in each individual house.

Surely newer homes assure a certain measure of structural integrity, energy-efficient features, and safer electrical wiring and heating systems. They can have less wear and tear, more modern conveniences built in, an aesthetic more suited to today's tastes, and often better handicap accessibility. On the other hand, older homes can have a proven history of safety and stability, styles appealing to those looking for more old-fashioned elegance and charm, and a track record of repairs that leaves no surprises.

There are some pros and cons in which old and new houses are evenly matched. Newer homes, as part of newer economic growth, can be found in more promising areas just setting out on a boom of development (and thus presenting substantial investment advantages), while older homes can be found in more established, comfortable, and picturesque locations which have their own premium value to many types of subsequent buyers. Older homes can come with the headaches of aging structures and systems, while newer ones can be hastily made, with their own set of consequences. Old homes can harbor the health concerns of obsolete materials (like lead paint and asbestos), while new homes can include ones more recently recognized (like arsenic in outdoor wood and formaldehyde in carpets). But either can still be your dream home, and this overriding point is tied more to the intangible interests that lead you to shop for homes in the first place than it is to scientific specifics. For any house you'll want to get a professional inspection done, but in the end you have to follow your heart.

Old homes and new ones have upsides and downsides of equal weight, so tip the balance with your own preferences and abilities – personal taste, financial resources, handy-person skills, available time and long-term goals. Which is the winner of Old vs. New? If you decide carefully, either one can be the winning choice for you.

Paying It Forward: How Renters Become Buyers

2007-12-21T09:50:00.000-05:00

Nothing compares to the feeling of having a place to call home. At one time or another, however, most of us have felt frustration at seeing hard-earned money go into rent every month rather than a more permanent house payment. Renting is most people's first step toward homeownership, but what do you need to do to realize the dream of owning a home?

Sometimes, it's not the regular rent-money obligations but other expenses that are the main obstacle in saving. A whole debt-counseling industry has arisen to guide consumers in getting out from under what they owe. Smart saving – not depriving yourself, just ensuring stability and enjoyment over the longest term – involves many moves both major and simple, and can help prepare you for that first down payment.

On the simple end, rediscovering home cooking (and enjoying the leftovers as brownbag lunches) can amount to significant savings as compared to regularly dining out. On a higher level of financial planning, establishing a household budget and sticking to it – including a specific amount set aside for savings every month – can get you to your home-affording goals sooner than you might have imagined.

You may also want to meet with a counselor who can negotiate a lower rate and set a sensible structure for your repayments on credit cards - while advising you how to ease dependence on them. (This not only gets you on your own financial feet, but helps keep your credit rating intact for the very home loan you hope to someday secure.)

There are additional ways to start working toward homeownership. Some sellers will enter into a "rent-to- buy" agreement, in which part of the regular rent is considered an installment of the home's down payment, which, once built up, can help you obtain financing. Low-income renters may also qualify for federal "Section 8" vouchers which are paid to the landlord, subsidizing your rental expenses and helping you save for a permanent home.

Just as some renting options allow you to set funds aside, some types of purchases can help defray your costs even as you fulfill the stepped-up obligations of homeownership. Pooling resources with other buyers to occupy a two-family home could be one; buying such a home by yourself and renting one half of it could be another.

Even if your economics remain challenging, there are low-down-payment mortgages, and other forms of financing for special circumstances, available to buyers who meet the right criteria. Your local real estate professional can help you navigate through these options (accessing such resources as ERA Mortgage). He or she can also identify what government help might be available, and generally counsel you on your readiness to be a buyer – and on what else you might need to do to get there. If you consult the right sources and seek common-sense strategies, then your every move in the renter's world can be pointing you home.

The Helpful Home: How Accessibility Features Can Serve Homeowners of All Ages and Abilities

2007-12-13T12:03:00.000-05:00

We all need a helping hand from time to time, but prefer to remain as independent as possible. Accessible features in a home are a way of lending ourselves a hand, and staying in our own house for much longer than we otherwise might.

As more members of the baby boom generation – which comprises the largest segment of America's population – reach retirement age, many of them show a preference for "aging in place" in their own homes rather than moving to traditional elderly communities and facilities. This trend has created more interest than ever in the designing and retrofitting of homes for maximum ease of use. Heightened awareness of the needs of disabled people of all ages, and increased legislative attention to their rights, including the Americans with Disabilities Act (ADA), have also helped drive a trend which can benefit all homebuyers.

What has come to be called "Universal Design" is a set of standards for making every house a welcoming home for inhabitants of all ability levels. These include placing light switches and thermostats low enough, and electrical outlets high enough, for anyone to reach; outfitting hallways with railings and showers with grab-bars and stools; replacing doorknobs with levers; offering ramps as well as stairs, and doorways that can accommodate wheelchairs; and minimizing falling risks through secure, low-pile carpeting.

Though there was a time when accessibility was considered an obstacle to resale value and desirability, attitudes – and demographics – have changed, and Universal Design is now considered a resale advantage. This potential extra salability can be achieved through minimal effort and expense. For instance, in many cases a room can be made wheelchair-accessible simply by changing the direction of a swinging door.

The simplicity of such measures – and their popularity with potential homebuyers ® makes it equally desirable to build a new home with these considerations in mind, or to retrofit an existing home with them. No one has to feel they've turned their home into a medical facility – you can avoid this with some smart and simple methods that enhance convenience and are common sense for all homeowners, while maintaining the more intangible comforts of home, like independence and familiar communities.

In addition to the convenience offered by making these types of upgrades to a home, there are government loan programs that can help subsidize accessibility modifications. Talk to a local real estate professional about accessible-home options in any area where you may be interested in buying; he or she can also find out about financing opportunities and other ways to keep your path to satisfying and secure homeownership a clear one.

Save More Than Energy: The Cost-Efficient Home

2007-10-01T15:56:00.001-04:00

The energy-efficient home is moving from the horizons of futuristic planners to the agenda of current homeowners.

It's not so much a matter of newer technologies – though alternate energy sources like solar and geothermal are making considerable inroads in the modern home. It's more a matter of improvements on very familiar furnishings and appliances. Put simply, these options save by losing less.

It may be well worth it to give your home an efficiency upgrade. First, you'll want to figure out what needs fixing. To identify problem areas, contact a qualified professional and get an energy audit of your home. Some upgrades are simple and less expensive. For example, one common problem is insulation. The Environmental Protection Agency (EPA) says that proper ceiling insulation alone can reduce your heating bill by as much as 20 percent. Other energy draining can be solved by replacing old fixtures with more modern and efficient models. Windows, doors and skylights equipped with sealed double or triple panes also reduce heating and cooling costs, and are features for which utility companies often offer rebates.

The EPA notes that air leakage from gaps in your home's structure – holes for plumbing and wiring, for instance – accounts for 25 to 40 percent of the energy a common home uses for heating and cooling. Similar troubles come from inadequately sealed duct joints and otherwise inefficient, older heating and cooling systems. All can be repaired or replaced.

Even conventional systems such as ventilation can release enough heat from your home to cost a fortune in unnecessary bills. Upgrading these systems can pay for itself – and later pay off as an attractive resale value when possible buyers of your home want to benefit from this form of savings.

And when you're ready to go from finding the problem to fixing it, the government doesn't just supply the bad news – it provides some solutions, as well. The EPA's "Energy Star" rating has appeared on numerous products, identifying efficient appliances and other home furnishings that enable vast savings. Energy Star central air conditioners can save 20 percent on cooling bills.

Studies have shown the resale advantages of homes with lower energy costs. Look for such solutions, and buyers will be more likely to look into your home. Your utility bills, Energy Star fact sheets and other documentation can be attractive proof to present to prospective buyers.

In the short term, you can save on some of these improvements even as they enhance your home's value. In addition to offering expert advice and home-selling solutions, real estate brands such as ERA Real Estate, feature the Select ServicesSM network of national and local vendors with leading household products, often at a discount.

Consult a local ERA Real Estate professional on how to navigate the options and opportunities available for the energy-conscious homeowner. Your investment in the future can have many returns right in the present.

The Healthy Home: Minimizing Household Health Risks

2007-08-23T09:52:00.000-04:00

Indoors is where Americans spend 90 percent of their lives – 25 percent at work and 65 percent at home, and the latter is increasing as home offices become more common. So it's important to take a look at how healthy the home environment is.

Mold is one concern that has gotten a good deal of attention recently, involving possible problems with allergies, the brain and the circulatory system. Wherever there is a leak, condensation or flooding inside a house, causing housing material to stay damp for more than a few days, mold begins to grow. So it's important to clean and repair roof gutters regularly, grade your land away from the house foundation to keep water from running toward the house, keep air-conditioning pans clean, and keep household humidity low.

Radon is another naturally-occurring challenge that has become a common concern of potential homeowners. Radon is a gas that can cause lung cancer; it is present in soil and rock and can enter a home through basement walls and floors. Some states are more at risk than others, but the only way to be sure about levels of this colorless, odorless gas is to get a qualified radon inspection. When you have set this up (and decided with the current homeowner who will pay for the inspection and any abatement), make sure the test is conducted without interference, and that systems to disperse the gas from a high-radon house – such as a pipe-and-fan apparatus that can vent the gas before it enters the home – are arranged for before you move in.

Proper ventilation in general is important for any home – an adequate exchange of air from within and without, to minimize humidity and disperse possible toxins, is needed even in the most energy-efficient of structures. And you should always make sure that fireplaces, stoves, furnaces and dryers are not venting any particles, gases or other unhealthy substances into your house.

You should also be careful of everyday materials which can contain toxins (such as formaldehyde in carpets, to which alternatives are increasing), and, if your current or new home gets its water from a well, be sure to have it tested regularly. Consult a local real estate professional for help in honing in on how to make the house you seek the safest one for you.

It's only natural for buying a home to be a stressful prospect at first. But you shouldn't have to feel anything but confidence once you are living there. With a qualified real estate professional and the right advice, both phases of homeownership can be cause for celebration rather than concern.

First Time's the Charm: Tips for Beginning Homebuyers

2007-07-15T14:10:00.000-04:00

Buying a home in Fairfield County is oftentimes a difficult decision to begin with; the only prospect more daunting may be doing it for the first time. But by asking the right questions and considering a few simple but important issues, you can pave the way for some powerful beginner's luck.

Becoming a first-time homeowner has its uncertainties, but remember that you're not alone. A National Association of Realtors® survey says that in 2001 (the most recent year for which figures are available), first-timers made up nearly half of all homebuyers. If so many made the move, you can too.

Chances are they did it with the help of a real estate professional. Realtors® can navigate the complexities of the homebuying process, and let you concentrate on the rewards of this new experience. These professionals will tell you that there are three major points you should take into account: finding the right financing, investigating the community you're considering, and evaluating your prospective home's qualities.

Before your home-search begins it's helpful to determine what price-range you are comfortable with and get pre-approved for a loan. Many hopeful home-seekers will quit the search before they start, out of worry that they can't afford a down payment or sheer unfamiliarity with the financing process. But today those worries are often unfounded; there is an array of financing options available for aspiring homeowners of almost every income. For example, ERA Mortgage offers more than 100 different loan products, and one is likely to fit your unique financing needs.

Once you've gained confidence in that area, it's important to make sure you're familiar with the location you'd like to live in. Think about what you want in a community and how your chosen one meets these interests, including nearness to the city (or country), reputation of the school system, access to public transportation, and property values. This is another task that ERA Select Homes, is perfectly equipped to help you with.

You also need to evaluate the soundness of your possible new home. What condition are major components like the furnace, windows and roof in? Is it a house needing only cosmetic improvements which will one day pay for themselves in resale value, or structural repairs that will eat into your future profit? Professionals like an ERA® sales associates and a qualified home inspector can help you answer such questions with confidence.

Keep in mind that being new to all this does have its advantages – first-time homebuyers usually move on within a few years, so you have a flexibility that homeowners with more experience but also more burdens may not. Becoming a homeowner still poses many questions, but knowing which to ask and obtaining good guidance can help make sure you get it right the first time.

Playing It Safe: Security Measures for Homesellers

2007-06-11T11:21:00.000-04:00

Today we're all more conscious of security, and while we can all get impatient at its inconveniences from time to time, we are often thankful for the greater worries it helps us avoid. Selling a home is one area in which security concerns are nothing new; opening your home to strangers is a natural part of the process – and so should be your own safety considerations. It's not about living in fear, but taking a few common-sense precautions so that you don't have to.

Whether or not you are using a Realtor®, you can make sure the sale stays an occasion for business and not an opportunity for crime. Remove any valuables or lock them away before an open house or other showing of your home. Never leave an answering-machine message telling when you aren't home, and never divulge sensitive personal details like your work hours – it might seem like a selling point to tell prospective buyers how quickly you can get to your job from this location, but it can also clue would-be burglars in on when to return.

Though the safeguards are simple, there are many of them to remember, and that is one area in which using a Realtor® can strongly help. The businesslike approach of a real estate agent – limiting showings to certain hours, obtaining background information on potential buyers, etc. – might be more acceptable to customers coming from a professional. And in this day and age, Realtors® themselves have to take precautions which make them all the more alert and sensitive to your own security.

Many ERA® sales professionals, for example, take care to show the home to only one group of families at a time. The set number accentuates the feeling of the Realtor® giving personal attention to your potential buyers, and also allows him or her to keep track of their whereabouts.

In addition, a common practice of full-service real estate companies is pre-approval through a program such as ERA Mortgage; such a process not only enables a background check on the prospective buyer, but also helps determine their seriousness as customers and saves you time.

It's always a relief to leave the complex real estate selling process to the experts, and now Realtors® are experts in safety measures that can also put your mind at rest. It may be the way you want to go for both state-of-the-art service and a "real" sense of security.

Getting It Right the Second Time: To Remodel or Not to Remodel

2007-04-30T10:21:00.000-04:00

Sometimes the house that was once your dream home is challenged by the changing realities in your life. Then it's time to decide whether to change the house you're in, or just change houses.
Your family may not be the same one that originally moved in – kids arrive, or people start to work more at home, and the house suddenly seems smaller or unsuited to new needs. Or maybe your new-home search has just been taking too long, and you've decided to try and make your current one "new" instead.
This is a major undertaking that calls for serious consideration before moving forward. Are you so happy with your current neighborhood that you'd like to do as much as possible to avoid moving, or are you ready for a change of area? Can your family take the strain, and your business the disruption, of a project that will demand a significant shift of routine and even displacement of living arrangements?
There are practical considerations to add to these emotional and financial ones. You'll want to find out if the changes you have in mind are compatible with local planning, zoning and building rules. And you'll want to consult with designers and architects as to the feasibility – and approximate cost – of those changes. A related and crucial consideration is the future value of your house for resale if you remodel but still later wish to move. This is important because increasing your home's resale value through renovation is not necessarily a given.
The reason is not just that remodeling can compromise a home's aesthetics and efficiency – though this is a significant concern; rather than buying another home to suit new needs, remaking one forces you to work around existing systems (such as plumbing) and can lead to eccentric and unwieldy spaces. The consequences of the renovation working "too well" could be equally disadvantageous to you: a house that is much bigger than others near it, or otherwise uncommon in its neighborhood, can disrupt its location and be priced beyond what anyone looking in that area is willing to pay.
To make sure all of your domestic dreams are good ones, do some planning and consider consulting a real estate professional (who can help with everything from architect referrals to advice on what renovations are right for your market). This will make all the difference between building to a problem and modeling homeownership happiness.

The New Urban Neighborhood: Brownfield of Dreams?

2007-03-20T11:06:00.000-04:00

A house in the country will always have its appeal. But lately more homebuyers are preferring the city, for reasons ranging from the sheer excitement of the surroundings, to the rescue of impoverished areas and the preservation of shrinking green space.
One prime area of urban housing growth is the type of site known as "brownfields." These are often-abandoned commercial and industrial spaces that have outlived their original uses but, with the right environmental cleanup, can be converted to housing or even entire neighborhoods. Older suburban homes and large new developments have lost none of their popularity, but for the right buyer the urban option is one worth exploring.
Clearly, urban living is not for everyone – it usually attracts single professionals and couples without children. But the lifestyle has aspects that would appeal to anyone. Two major attractions are cutting down on a long daily commute to city employment, and taking advantage of the area's cultural scene.
Convenience like this coincides with the environmental interests of both city and suburban officials: having a population within a few public transit stops or even in walking distance of work and recreation reduces automotive pollution and traffic hazards. And placing new housing in established urban buildings can slow suburban sprawl, with one study showing that, given factors such as pre-existing architecture and infrastructure, every hectare (about two and a half acres) of brownfields that is redeveloped spares 4.5 hectares of green space. Many of today's homeowners are happy to be part of such preservation, as they enjoy the more personal oasis of abundant room and spectacular views that the modern loft offers.
Of course, the same residents are concerned about the city environment itself. Brownfields can often have unresolved health and safety issues from their former uses. But new grants and other incentives to find and mitigate these problems are promising to accelerate the process of urban revival and put sellers', buyers' and lenders' minds at rest.
Even now, these spaces have proven so popular that developers are applying the term "loft" to structures they have only just built, and buyers are flocking to them. The rush is by no means unanimous - the U.S Census has indicated that three homes are still built in the suburbs for every one built in the cities. But the urban frontier is holding more appeal every day.

When a Home is Not a House: Condo Pros and Cons

2007-02-28T12:54:00.000-05:00

Many real estate watchers can remember when buying a condominium was most would-be homeowners' second choice. These properties were considered a half-way measure for people wishing to break out of renting but not quite able to obtain a house. Now, condos are not only seen as a smart step between the two stages, but are an increasingly sought-after option in their own right.
It's not just that condos are an attractive intermediate move, though this is an important recent reality of homeownership. Condo values have been appreciating faster than those of single-family homes, making them a good start for first-time homebuyers who would like to build equity for a house purchase a few years down the road.
Condos are now viewed as a great middle ground for people at opposite ends of the homeowning spectrum: first-time homebuyers appreciate the still-competitive prices of condos as compared to single-family homes, and retirees like the convenience of condo living (with affordability certainly an attraction for the seniors and simplicity an appeal to busy young professionals, too).
A condo can keep benefiting its buyer even after they move (if they even ever want to): some owners keep their condo as a rental investment when they switch to another kind of home. Still, as with any living arrangement, you want to make sure the situation is right for you.
One big consideration is the ways in which a condo's conveniences come with certain trade-offs. As in a conventional apartment complex, most maintenance work and many other homeowner hassles will be taken care of for you, but not without expense. All residents must join an association which requires dues and makes certain decisions in concert that homeowners would otherwise make themselves.
You will want to carefully check out what restrictions apply - are pets allowed? Home offices? Can you paint and garden as you wish? You'll want to find out if the fees are within your budget, and how they might go up (for instance, to pay for any big repairs if there isn't already a responsible reserve fund). And you will want to be sure you're comfortable with the communal decision-making process in general.
You also owe it to yourself to make sure that any current boom has reached the condo complex you're interested in, with a good sales history and a promising future - and to figure out your financing prospects. Lenders give lower rates to buyers in developments with fewer renters and more owner-occupants (absentee ownership can affect both quality of life and property value).
These last two points are certainly ones in which the expertise of your local real estate professional can come in handy (ERA Select Homes is one company that has them both covered). With the right research, a condo can become not a compromise you can live with, but the place where you'd most like to live.

Doubling Your Investment: Do Income-Generating Properties Pay?

2007-02-01T15:04:00.000-05:00

Buying or selling a house is one of the biggest decisions most people will ever make with their finances and their lifestyle. Getting the best bargain in the purchase or making the most profit on the sale give buyers and sellers so much to think about that many may never stop to consider keeping that old house - or buying another - as an income-generating property. But the rewards, in savings, profits and problem-solving, can be high.
One option for buyers who otherwise might consider home prices beyond their reach is the property that pays for itself: a house you live in part of and rent the rest of. This offers not only an obvious balance of cost and income, but perhaps lesser-known benefits in taxes and mortgage. The rental units can be depreciated over time; considered to offset the rental income, this can lower your taxes on that income. At the same time, the rent's addition to your finances helps you qualify for a larger mortgage, and investors who occupy their rental properties can, under certain conditions, get interest rates lower than those who do not. Of course you'll want to decide if the demands of being a live-in landlord are for you.

If being an offsite landlord is more appealing, you could always keep your current home as a rental after you move into the new one. Your long-term familiarity with the home's features and condition could lend a certain confidence both to yourself and your potential tenants. As with any investment property, you'll first want to calculate whether the rental income will make up for the needed expenses. (This is another consideration in which a qualified real estate sales professionals can help, with his or her knowledge of the local rental market and its prospects over time.) And of course being a landlord has its headaches too, so you have to enjoy the challenge and be ready to meet the needs.
But if solving problems appeals to you, then you may even prefer a fixer-upper to your familiar former home. With a thorough inspection to answer any questions, and a realistic budget and disciplined schedule to handle all improvements, your outlays can prove to be well worth it. Renovations can range from reconfiguring the floorplan to simply replacing a now-unfashionable décor. The attraction of "move-in" quality can draw renters who share your appreciation of state-of-the-art living but not your passion for the do-it-yourself effort behind it.
Owning an income-generating property is not for everyone, but-from younger buyers offsetting their purchase costs, to seniors easing the expenses of their retirement years - it can be for all kinds of people. Talk to a real estate sales professional to find out if rental property would be double trouble or two times the success.

Current Market Conditions

2007-01-24T00:50:00.000-05:00

My analysis of 7,219 of the units sold in the 20 Fairfield County towns during 2006 revealed a high single family home list price of $7,595,000 and a high selling price of $7,275,000. The average list price was $531,277 and average selling price was $511,790, 96.3% of the average list price. The median list price was $385,000 and the median selling price was $375,000, 97.4% of the median list price. This shows the existance of a broad range of housing/prices throughout the towns in Fairfield County and it also proves that fairly priced properties are selling close to their asking prices. Inventory, however, is high, representing a 7.6 months supply. It is interesting to note that while the 2006 median list price increased just 3.3% over the 2005 median list price, the median list price of those single family homes currently on the market is 22.6% higher than the median list price of homes sold in 2006. Homes that are well priced, that is priced for the current market are selling and they are selling at 96-97% of list price. So this is a good time to sell a house. There is a large supply of houses from which buyers may choose and some sellers are pricing their houses fairly so it is also a good time to buy a house.