Unfortunately, last night's weather put a damper on the Hope Lights Lives luminary event around town... This is such a special night to walk (or drive!) through Darien and the surrounding towns- the luminary bags dotting the roadways, like a magical path, always bring a smile to our faces. The event has been rescheduled for next Sunday, the 20th. For more info, or if you haven't gotten a kit yet and still would like to, go to:
http://www.familycenters.org/content/view/436/
Monday, December 14, 2009
Tuesday, December 1, 2009
Santa Claus is coming to town...
Hello there!
Many of you have asked us what Santa's schedule is, as you know we have a direct line to his work shop. So we wanted to give you Santa's schedule which is as follows:
December
Darien Sport Shop 1127 Post Road Darien, CT
Thursday 3, 10,& 17
3:00 - 6:00
Thursday 24
10:00 - 1:00
Saturday 5,12,& 19
12:00 - 3:00
Sunday 6
12:00 - 2:00
Sunday 13 & 20
12:00 - 3:00
Wild Birds Unlimited 532 North Bedford Rd. Bedford Hills, NY
December 2 & 4
2:30 - 5:30
If anyone has anyquestions or is interested in a special Santa visit please feel free to contact Joe Jr. "head elf" at 203-803-8341 Hope everyone has a great Holiday Season.
Monday, November 23, 2009
Happenings
This past weekend was absolutely gorgeous and a perfect weekend for the 1st Annual "Hydrant Bowl." The three volunteer departments got together at Royle School for a round robin tournament and Joe's department, Noroton, came away with a big victory, ending the day at 2-0! Noroton Heights ended at 1-1 and Darien finished 0-2. It was a ton of fun and everyone is already looking forward to next year.
Noroton Fire Department is currently in a membership drive to recruit more volunteers- if you have any interest in helping out the town by becoming a volunteer fire fighter, let Joe know at 203-803-8341.
Thanksgiving is just a few days away and we'd just like to thank everyone for their support and referrals this past year. It's never hard for us to find things to be thankful for- a great business, great community and friends & family to enjoy the holiday! We hope you feel as thankful for all that you have this week as well!
Happy Thanksgiving!
Noroton Fire Department is currently in a membership drive to recruit more volunteers- if you have any interest in helping out the town by becoming a volunteer fire fighter, let Joe know at 203-803-8341.
Thanksgiving is just a few days away and we'd just like to thank everyone for their support and referrals this past year. It's never hard for us to find things to be thankful for- a great business, great community and friends & family to enjoy the holiday! We hope you feel as thankful for all that you have this week as well!
Happy Thanksgiving!
Tuesday, November 10, 2009
It's official!
First Time Homebuyer Tax Credit Extended Into 2010!
Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What?
The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.
First-Time Homebuyer Tax Credit – Frequently Asked Questions
Here are answers to some commonly asked questions about the tax credit.
What is a tax credit?
A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)?
An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit?
Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit?
For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property?
No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property?
Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit?
Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
• You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
• You do not use the home as your principal residence.
• You sell your home before the end of the year.
• You are a nonresident alien.
• You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
• Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
• You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.
Can you buy a home from a step-relative and be eligible for the credit?
Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit?
Yes.
Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years?
No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What?
The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.
First-Time Homebuyer Tax Credit – Frequently Asked Questions
Here are answers to some commonly asked questions about the tax credit.
What is a tax credit?
A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)?
An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit?
Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit?
For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property?
No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property?
Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit?
Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
• You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
• You do not use the home as your principal residence.
• You sell your home before the end of the year.
• You are a nonresident alien.
• You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
• Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
• You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.
Can you buy a home from a step-relative and be eligible for the credit?
Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit?
Yes.
Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years?
No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
Monday, November 2, 2009
You may have been driving down the Post Road this weekend and seen the big ladder truck and American Flag put out at the Noroton Fire Department...As you all know, Joe is a 3rd generation volunteer firefighter at Noroton and we had an awesome event this Sunday- Our first annual Membership Drive! We had a great turnout & if you might be interested in joining yourself, please call Joe at 203-803-8341!
On the real estate front, we've recently heard that the tax credit for first time buyers is likely to be extended past November 30th- this means great opportunities area still available for the first-time buyers out there for even longer! Don't wait to take advantage of this deal!!
On the real estate front, we've recently heard that the tax credit for first time buyers is likely to be extended past November 30th- this means great opportunities area still available for the first-time buyers out there for even longer! Don't wait to take advantage of this deal!!
Thursday, October 1, 2009
BREAKING NEWS FROM THE COMMERCIAL RECORD...
We have always heard that the real estate market bounces back after a recession before financial markets and otherwise...read it for yourself!
Copy and paste the link below:
www.commercialrecord.com/news134963.html
Copy and paste the link below:
www.commercialrecord.com/news134963.html
Friday, September 11, 2009
Market Update!
More Home Sellers Are Cutting Prices: Trulia
Reuters
| 11 Sep 2009 | 09:08 AM ET
More than one in four U.S. homes for sale on Sept. 1 had their prices cut at least once since landing on the market, up slightly from a month earlier, a study showed on Friday.
As of Sept. 1, a total of 26 percent of homes had their prices reduced, up from 25 percent on Aug.1, Trulia.com said in its monthly price report.
Driving the increase was the pending expiration of the government's $8,000 tax credit for first-time home buyers — part of the stimulus bill — and summer months which are the peak sales period, according to data compiled by Trulia.com.
The average discount was 10 percent from the original price, unchanged from August. On average, sellers dropped their price by $39,378, Trulia said.
"Housing data has shown us that sales are on the rise this summer and aggressive pricing is one of the factors driving these sales," said Pete Flint, Trulia co-founder and CEO, in an interview with Reuters. "The other factor is the $8,000 first time home buyers credit which we believe will continue to drive a high volume of sales for the next few months."
Home sellers looking to sell their property before the tax credit expires in November will continue to cut prices in hopes of attracting home buyers in search of discounts, he said.
Several cities have seen consistent month-over-month increases in the percentage of listings with price reductions from June 1 to Sept. 1. They include Kansas City, Missouri; Colorado Springs, Colorado; Omaha, Nebraska; Atlanta, Georgia; Indianapolis, Indiana; Memphis, Tennessee; Milwaukee, Wisconsin; and Raleigh, North Carolina, Trulia said.
Nationwide, in dollar terms, $28.5 billion has been reduced for all homes for sale on the market on September 1, up by more than $1.1 billion from June to September, the data showed.
Of the luxury homes, categorized by those costing $2 million or more, 26 percent have seen a reduction, up from 25 percent. The average decrease for a luxury home was 14 percent off the original asking price, the data showed.
For homes listed for less than $2 million, 25 percent have seen a reduction, consistent on a month-over-month basis. The deduction, however, was only 9 percent off the original asking price, the data showed
Reuters
| 11 Sep 2009 | 09:08 AM ET
More than one in four U.S. homes for sale on Sept. 1 had their prices cut at least once since landing on the market, up slightly from a month earlier, a study showed on Friday.
As of Sept. 1, a total of 26 percent of homes had their prices reduced, up from 25 percent on Aug.1, Trulia.com said in its monthly price report.
Driving the increase was the pending expiration of the government's $8,000 tax credit for first-time home buyers — part of the stimulus bill — and summer months which are the peak sales period, according to data compiled by Trulia.com.
The average discount was 10 percent from the original price, unchanged from August. On average, sellers dropped their price by $39,378, Trulia said.
"Housing data has shown us that sales are on the rise this summer and aggressive pricing is one of the factors driving these sales," said Pete Flint, Trulia co-founder and CEO, in an interview with Reuters. "The other factor is the $8,000 first time home buyers credit which we believe will continue to drive a high volume of sales for the next few months."
Home sellers looking to sell their property before the tax credit expires in November will continue to cut prices in hopes of attracting home buyers in search of discounts, he said.
Several cities have seen consistent month-over-month increases in the percentage of listings with price reductions from June 1 to Sept. 1. They include Kansas City, Missouri; Colorado Springs, Colorado; Omaha, Nebraska; Atlanta, Georgia; Indianapolis, Indiana; Memphis, Tennessee; Milwaukee, Wisconsin; and Raleigh, North Carolina, Trulia said.
Nationwide, in dollar terms, $28.5 billion has been reduced for all homes for sale on the market on September 1, up by more than $1.1 billion from June to September, the data showed.
Of the luxury homes, categorized by those costing $2 million or more, 26 percent have seen a reduction, up from 25 percent. The average decrease for a luxury home was 14 percent off the original asking price, the data showed.
For homes listed for less than $2 million, 25 percent have seen a reduction, consistent on a month-over-month basis. The deduction, however, was only 9 percent off the original asking price, the data showed
Sunday, August 30, 2009
Back to work!
Ok ok... So we took a little hiatus for the month of August... and we'll ease back into postings with a great article that we just read about the national real estate market. Whether or not our average prices in Fairfield County are $200k or $1M, this article is a positive look at the state of the real estate today! Finally! :) Enjoy...
http://www.realtor.org/press_room/news_releases/2009/08/strong_uptrend?LID=RONav0021
http://www.realtor.org/press_room/news_releases/2009/08/strong_uptrend?LID=RONav0021
Monday, July 27, 2009
Good news on the real estate front!
Check it out...
New-Home Sales Jump by 11%, Largest Monthly Rise in 9 Years
The Associated Press
27 Jul 2009 10:37 AM ET
New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades.
The Commerce Department said Monday that sales rose 11 percent in June to a seasonally adjusted annual rate of 384,000, from an upwardly revised May rate of 346,000.
It was the strongest sales pace since November 2008 and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 360,000 units. The last time sales rose so dramatically was in December 2000.
Sales have risen for three straight months. The median sales price of $206,200, however, was down 12 percent from $234,300 a year earlier and down nearly 6 percent from $219,000 in May.
The report is another encouraging sign that the beleaguered housing sector is finally coming back to life. Last Thursday, the National Association of Realtors reported that home resales posted a monthly increase of 3.6 percent in June.
"The data will reinforce the developing thinking that housing market has bottomed and that the economy has stabilized and will grow in the third quarter," Jim Awad, managing director at Zephyr Management in New York, told Reuters.
"In the cocktail of the market, it will be viewed positively and will add credence to the bulls, who think we will have a rebound in the markets going forward," he said.
The number of new homes for sale fell to a more than 11-year low at 281,000, the lowest since February 1998 and down more than 4 percent from May. At the current sales pace, that represents 8.8 months of supply — the lowest level since October 2007.
Fallout from the housing crisis has played a central role in the U.S. recession, now the longest since World War II. Foreclosures have spiked, homebuilders have slashed construction, and financial companies have lost billions.
Check it out...
New-Home Sales Jump by 11%, Largest Monthly Rise in 9 Years
The Associated Press
27 Jul 2009 10:37 AM ET
New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades.
The Commerce Department said Monday that sales rose 11 percent in June to a seasonally adjusted annual rate of 384,000, from an upwardly revised May rate of 346,000.
It was the strongest sales pace since November 2008 and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 360,000 units. The last time sales rose so dramatically was in December 2000.
Sales have risen for three straight months. The median sales price of $206,200, however, was down 12 percent from $234,300 a year earlier and down nearly 6 percent from $219,000 in May.
The report is another encouraging sign that the beleaguered housing sector is finally coming back to life. Last Thursday, the National Association of Realtors reported that home resales posted a monthly increase of 3.6 percent in June.
"The data will reinforce the developing thinking that housing market has bottomed and that the economy has stabilized and will grow in the third quarter," Jim Awad, managing director at Zephyr Management in New York, told Reuters.
"In the cocktail of the market, it will be viewed positively and will add credence to the bulls, who think we will have a rebound in the markets going forward," he said.
The number of new homes for sale fell to a more than 11-year low at 281,000, the lowest since February 1998 and down more than 4 percent from May. At the current sales pace, that represents 8.8 months of supply — the lowest level since October 2007.
Fallout from the housing crisis has played a central role in the U.S. recession, now the longest since World War II. Foreclosures have spiked, homebuilders have slashed construction, and financial companies have lost billions.
Sunday, July 19, 2009
Hi everyone!
THANK YOU to all of our clients and customers that joined us for our Client Appreciation bbq and Reggae concert at Bayley last weekend! It was such a success- the reggae band was so popular that the beach gates had to be closed because the parking lot was full!! We missed those of you that couldn't join us, but hope we'll catch you next year! Everyone had a blast and we will post pictures soon!!
Sooo...We can't yet say that all of our listings are SOLD, but we can definitely say that we've seen a good boost in showing activity and some sales in the area!! It looks like this is not just a 'blip,' but rather a possible start to a trend in buyers finally realizing that we haven't been making things up- now is the time to buy!!! We know this especially now, because we are seeing the high end in Darien starting to move- these people have obviously made great financial decisions, folks!! Follow their lead and invest now!
But for those of you that do want both perspectives, we did find this great clip of Barbara Corcoran (legendary real estate expert on the Today Show,) from a few weeks back... check it out and if you think you want to get out there and start looking, give us a call!
http://today.msnbc.msn.com/id/26184891/vp/31423941#31423941
THANK YOU to all of our clients and customers that joined us for our Client Appreciation bbq and Reggae concert at Bayley last weekend! It was such a success- the reggae band was so popular that the beach gates had to be closed because the parking lot was full!! We missed those of you that couldn't join us, but hope we'll catch you next year! Everyone had a blast and we will post pictures soon!!
Sooo...We can't yet say that all of our listings are SOLD, but we can definitely say that we've seen a good boost in showing activity and some sales in the area!! It looks like this is not just a 'blip,' but rather a possible start to a trend in buyers finally realizing that we haven't been making things up- now is the time to buy!!! We know this especially now, because we are seeing the high end in Darien starting to move- these people have obviously made great financial decisions, folks!! Follow their lead and invest now!
But for those of you that do want both perspectives, we did find this great clip of Barbara Corcoran (legendary real estate expert on the Today Show,) from a few weeks back... check it out and if you think you want to get out there and start looking, give us a call!
http://today.msnbc.msn.com/id/26184891/vp/31423941#31423941
Friday, July 10, 2009
We just wanted to share a recent message we received from Prudential CT's CEO that we thought was worth sharing!...
In the past few months we have seen encouraging news about real estate in the media. National housing starts are up for the first time in more than two years. In Connecticut, we’ve seen a recent surge in deposits. There were 5,936 in June, while there were only 3,447 in March. In January, there were less than 3,300 deposits. Clearly the trend is that the housing market is improving. Several factors are contributing to the re-energized real estate market: a stabilizing stock market, realistic home prices, record low mortgage rates and the $8,000 first-time homebuyer tax credit.
The message to share is that now is the time to buy and now is the time to sell. Properties priced correctly are seeing multiple offers. Inventory is healthy but not excessive, so there is still a good selection of well-priced homes to choose from. Mortgage rates are currently the lowest they’ve been since 1971 and are likely to increase as the economy improves. Additionally, to qualify for the first-time homebuyer tax credit, the property must be closed and occupied by November 30, 2009.
In the past few months we have seen encouraging news about real estate in the media. National housing starts are up for the first time in more than two years. In Connecticut, we’ve seen a recent surge in deposits. There were 5,936 in June, while there were only 3,447 in March. In January, there were less than 3,300 deposits. Clearly the trend is that the housing market is improving. Several factors are contributing to the re-energized real estate market: a stabilizing stock market, realistic home prices, record low mortgage rates and the $8,000 first-time homebuyer tax credit.
The message to share is that now is the time to buy and now is the time to sell. Properties priced correctly are seeing multiple offers. Inventory is healthy but not excessive, so there is still a good selection of well-priced homes to choose from. Mortgage rates are currently the lowest they’ve been since 1971 and are likely to increase as the economy improves. Additionally, to qualify for the first-time homebuyer tax credit, the property must be closed and occupied by November 30, 2009.
Monday, June 15, 2009
Hello everyone! We just wanted to remind you all that we re-introduced 225 Tokeneke Road, Darien to the real estate market for sale this past week. This stunning Georgian Colonial, built in 1930, sits on over 4 acres of private land in the Tokeneke area. The home, also known as Laurel Hill Estate, has recently been 'brought back to life' by the family that has owned it for the past 45 years... They spent this Spring updating, restoring, repairing, painting & cleaning... to prepare Laurel Hill for the next owners- and the transformation is amazing. The tennis, paddle & pool complete this over 6,000 sqaure foot home and make it one of the most unique properties ever to hit the Darien market. To see photos & learn more, visit www.LaurelHillEstate.com
If you'd like a private showing, please feel free to email or call us- we do ask for 24 hour notice for appointments. Thank you!
If you'd like a private showing, please feel free to email or call us- we do ask for 24 hour notice for appointments. Thank you!
Monday, June 1, 2009
Happy Monday! And it is a happy one... the sun is out for once! (well, maybe the 2nd or 3rd time this Spring...)
We just wanted you all to know about our new listing in Rowayton-
This is a really special home- the location can't be beat- right in town- across the street from the pond and school fields, a few blocks from the beach and one block over from the center of town. This 1880's Victorian has been completely updated and is ready to move right in. The wraparound porch faces East, so sunrise breakfasts outside are a treat in summertime. In the winter, ice skaters make for great entertainment, just across the way. The home has 3 bedrooms & 1.5 baths. A Granite Kitchen, gorgeous hardwood floors throughout, newer C/A & a newer roof are just some of the features. A very large 3rd floor walk-up finished attic adds bonus office space, separate playspace & hang-out room- or an additional bedroom. The lot is deep, with a detached 1 car garage and ample storage space above, along with a nice quiet, landscaped yard. Check out the website (as of Tuesday, 6/2,) for detailed spec info!
**We are hosting a public open house on Sunday, June 7th from 1-3pm, so feel free to stop by- we might even have a homemade treat for you to take away! :)
Monday, May 18, 2009
Darien has hit the '200' mark. 200 homes available for sale in town- this is a higher number than we'd like to see, obviously, but with an additional 50 homes that have accepted offers or are 'in contract,' we seem to be moving more towards some positive activity. It is important to note that if we are, in fact, in a real estate market that is on the verge of recovery, then the market activity that we are seeing is right on par with that prediction- what we mean is this:
Of the 50 homes that are due to close in the coming weeks or months, 1/2 of them are under $1M. So 50% of the homes that are being bought in today's market are the first & maybe 2nd-time buyers. 13 more homes that have accepted offers fall into the $1M-2M range, 5 homes have bindered in the $2M-3M range and 7 homes are selling in the $3M-6M market. What we anticipate happening is that the numbers will eventually shift to become more balanced in all price ranges, once we recover- but this start of activity in the under $1M is definitely a move in the right direction.
Keep the movement going & if you hear of anyone looking to take advantage of this market before it's too late, we hope you'll let us know!
Of the 50 homes that are due to close in the coming weeks or months, 1/2 of them are under $1M. So 50% of the homes that are being bought in today's market are the first & maybe 2nd-time buyers. 13 more homes that have accepted offers fall into the $1M-2M range, 5 homes have bindered in the $2M-3M range and 7 homes are selling in the $3M-6M market. What we anticipate happening is that the numbers will eventually shift to become more balanced in all price ranges, once we recover- but this start of activity in the under $1M is definitely a move in the right direction.
Keep the movement going & if you hear of anyone looking to take advantage of this market before it's too late, we hope you'll let us know!
Monday, May 4, 2009
Well, as we had mentioned last week about Laurel Hill in Tokeneke, we toured the property with the owners on Thursday and they want to make sure everything is absolutely perfect, so with this rain that we've been having, it looks like we have another week or two of fine-tuning before we debut... But do stay tuned- we will most likely not be doing a public open house, but we would be more than happy to give anyone that is interested a private tour of the home and grounds. Just let us know!
On another note, we heard from a client who is selling their house in Darien and thinking of moving to Rowayton... they have come to terms with a buyer and are ready to find something here- this is great news and goes right along with what we've heard- that activity is picking up in Darien. We know that everyone is not getting the prices that they were getting in the last 5 years or so, but we wish that everyone would look on the bright side- you can also BUY something that you might not have been able to afford in the last 5 years!! And these rates are still giving most buyers an opportunity that they may not see again once the rates start to creep up!
We hope you all are enjoying your spring and even though we haven't seen the sun in a few days (and they say we have a few more ahead,) we know it's around the corner and are looking forward to Memorial Day to kick off the summer season!
Take care & as always, if you hear of anyone looking to buy or sell, please let us know! :)
On another note, we heard from a client who is selling their house in Darien and thinking of moving to Rowayton... they have come to terms with a buyer and are ready to find something here- this is great news and goes right along with what we've heard- that activity is picking up in Darien. We know that everyone is not getting the prices that they were getting in the last 5 years or so, but we wish that everyone would look on the bright side- you can also BUY something that you might not have been able to afford in the last 5 years!! And these rates are still giving most buyers an opportunity that they may not see again once the rates start to creep up!
We hope you all are enjoying your spring and even though we haven't seen the sun in a few days (and they say we have a few more ahead,) we know it's around the corner and are looking forward to Memorial Day to kick off the summer season!
Take care & as always, if you hear of anyone looking to buy or sell, please let us know! :)
Monday, April 27, 2009
Hello & Happy Monday! Joe and I have been busy planning the launch of the newly updated Laurel Hill Estate on Tokeneke Road in Darien... Coming at the end of this week, those of you who think you know the estate have a big surprise in store! The family has spent the the past few months preparing and repairing this gorgeous estate for the grand re-opening in May...it looks AMAZING!! We can't wait to get the photos taken and loaded for everyone to see! The care taken in restoring the grounds of this over 4 acre estate is above and beyond anything we had hoped for- this home is now truly ready for the next owners to enjoy! Stay tuned...
Monday, April 6, 2009
New Listing- Gorgeous Home in Rowayton...!! www.370RowaytonAve.com
We just listed this home this past weekend... located at 370 Rowayton Avenue, this architecturally re-designed Nantucket Shingle-Style Colonial has everything you'd ever want in a home!
Originally built in 1924, this house has retained all the character and charm of the original home now with almost 4,000 sq ft of living space. Amenities include a Formal Living Room with FP and coffered ceilings, Granite Kitchen & Family Room with FP, Cathedral Ceiling & double French Doors to deck, and Formal Dining Room with French Doors as well. The main living level also has a guest suite with private full bath, walk-in closet and French Doors to a private deck. The Master Suite has Vaulted Ceilings, a walk-in closet and spa bath with Jacuzzi and Marble steam shower, including a private sun-deck. This home has too many features to list… all within a quick walk to the train and affording all Rowayton amenities.
Let Joe or I know if you'd like to take a look or if you know of someone that might be interested!
Thanks! :)
Monday, March 23, 2009
Well, it looks like rentals are the name of the game... I don't think I've worked on as many rentals in the past 8+ years as we've done in the last 2 months... Perhaps we underestimated the media scare-factor?
In Darien, we're still seeing some properties come on the market at what appear to be 2006 prices, but for the most part, we are pleased to see sellers start to get more realistic for the current market. The price ranges that are starting to move are the '$1M and under' group. There are a few random properties that are in the multi-million range that have managed to find buyers, but for the most part, we are still waiting for the sellers of those $1M- properties to make their move on up the ladder. We recognize that some will not be making a move in that direction, but there are still a number of homeowners who do have jobs (it's not as fun for the media to talk about though,) and who can take advantage of real estate prices by buying 'up.'
With all this being said, real estate sales are definitely few and far between- but we feel strongly that they are moving in the positive direction... it will just take some time.
And for those of us that are trying to save some $$ in this economy, we did hear that the Darien Library is having some great speakers and movie nights on Fridays... We missed the travel expert, Arthur Frommer, yesterday- but we drove by and the cars were lined up in the street- apparantly, there was standing-room only! (We think it must be because everyone hasn't gotten to plan exciting vacations recently, so living vicariously through Arthur will have to suffice!)
check out the 'Events' page at www.darienlibrary.org
In Darien, we're still seeing some properties come on the market at what appear to be 2006 prices, but for the most part, we are pleased to see sellers start to get more realistic for the current market. The price ranges that are starting to move are the '$1M and under' group. There are a few random properties that are in the multi-million range that have managed to find buyers, but for the most part, we are still waiting for the sellers of those $1M- properties to make their move on up the ladder. We recognize that some will not be making a move in that direction, but there are still a number of homeowners who do have jobs (it's not as fun for the media to talk about though,) and who can take advantage of real estate prices by buying 'up.'
With all this being said, real estate sales are definitely few and far between- but we feel strongly that they are moving in the positive direction... it will just take some time.
And for those of us that are trying to save some $$ in this economy, we did hear that the Darien Library is having some great speakers and movie nights on Fridays... We missed the travel expert, Arthur Frommer, yesterday- but we drove by and the cars were lined up in the street- apparantly, there was standing-room only! (We think it must be because everyone hasn't gotten to plan exciting vacations recently, so living vicariously through Arthur will have to suffice!)
check out the 'Events' page at www.darienlibrary.org
Monday, March 16, 2009
Would you believe us if we told you that we hadn't updated our blog for the past two weeks because we've been too busy selling??
Well, this is the truth (minus a day or two off, so we don't get burned out, of course!)
The buyers are coming out and we've got them- we have been out there almost every single day showing something or other and that activity is increasing. We are very hopeful that the confirmed government buyer incentives and the rates are really pushing buyers to make a move and find their next property. This really is an amazing time to buy, if you are able... We can't stress this fact enough.
And if you think we're just being our usual optimistic-selves...then read on!
http://www.nytimes.com/2009/03/15/realestate/15wczone.html
This is all we have time for today... And just a reminder, though we are busy, we are NEVER too busy for your referrals! :) Do you know anyone who is considering purchasing or selling real estate? We would appreciate and welcome the opportunity to assist them.
Well, this is the truth (minus a day or two off, so we don't get burned out, of course!)
The buyers are coming out and we've got them- we have been out there almost every single day showing something or other and that activity is increasing. We are very hopeful that the confirmed government buyer incentives and the rates are really pushing buyers to make a move and find their next property. This really is an amazing time to buy, if you are able... We can't stress this fact enough.
And if you think we're just being our usual optimistic-selves...then read on!
http://www.nytimes.com/2009/03/15/realestate/15wczone.html
This is all we have time for today... And just a reminder, though we are busy, we are NEVER too busy for your referrals! :) Do you know anyone who is considering purchasing or selling real estate? We would appreciate and welcome the opportunity to assist them.
Monday, March 2, 2009
We recently attended a training seminar for a new service that we are subscribing to, as a bonus to offer all of our buyers and sellers. Anyone who is working with us (or thinking of working with us!) can take advantage of this offer–
The service is called Listingbook and what it does for sellers and buyers alike, is offer you a way to view real estate listings and market data just like agents can– and as soon as the property information is on the MLS! So basically, it’s like giving our clients access to our MLS, as a bonus for working with us!
The reason this is such a benefit to buyers and sellers is because it means viewing any and all property info just as soon as the listings come on the market or are reported ‘sold.’ If you are a buyer looking to take advantage of the best deals, you get a morning report each morning that tells you what new has come on the market over night, including price reductions, sales, and any activity. You also have the ability to tailor your search criteria more than any other search engine that we’ve seen in the past– again, just like the MLS for agents.
The beauty of this program is that it is completely FREE to our clients– we can send you your free account easily, just let us know you’d like one!
We have a few clients who have started using this service and they have raved about it!
Some of the membership benefits on Listingbook are...
· The freedom to search homes for sale like an agent -yet know you can rely on your agent’s expertise
· Access to information that is updated hourly, including area sales and price changes
· Detailed property information anytime, anywhere — even at midnight in the comfort of your own home
· Tour properties online with your agent
· Property details including addresses, pictures and directions, allowing you to check out neighborhoods at your leisure
· Notification of new homes meeting your criteria, when they come on the market or have a price change
· Maintains a personal file of favorite properties that interest you and automatically updates their price and status
· Instant messaging means you are just a click away from your agent’s expertise
Call us or email to get your account set up today!
The service is called Listingbook and what it does for sellers and buyers alike, is offer you a way to view real estate listings and market data just like agents can– and as soon as the property information is on the MLS! So basically, it’s like giving our clients access to our MLS, as a bonus for working with us!
The reason this is such a benefit to buyers and sellers is because it means viewing any and all property info just as soon as the listings come on the market or are reported ‘sold.’ If you are a buyer looking to take advantage of the best deals, you get a morning report each morning that tells you what new has come on the market over night, including price reductions, sales, and any activity. You also have the ability to tailor your search criteria more than any other search engine that we’ve seen in the past– again, just like the MLS for agents.
The beauty of this program is that it is completely FREE to our clients– we can send you your free account easily, just let us know you’d like one!
We have a few clients who have started using this service and they have raved about it!
Some of the membership benefits on Listingbook are...
· The freedom to search homes for sale like an agent -yet know you can rely on your agent’s expertise
· Access to information that is updated hourly, including area sales and price changes
· Detailed property information anytime, anywhere — even at midnight in the comfort of your own home
· Tour properties online with your agent
· Property details including addresses, pictures and directions, allowing you to check out neighborhoods at your leisure
· Notification of new homes meeting your criteria, when they come on the market or have a price change
· Maintains a personal file of favorite properties that interest you and automatically updates their price and status
· Instant messaging means you are just a click away from your agent’s expertise
Call us or email to get your account set up today!
Monday, February 23, 2009
Get ready to bid, buyers! We are really starting to see some serious activity in the Darien-under-$1 Million market... There were a few more accepted offers reported this past week than we've seen this winter, so that's great news for us! As you know, if the first-time buyers are taking action, that only means a 'trickle-down' effect. (In this case, 'trickle-UP.') It is only a matter of time before the more expensive properties are affected by this activity, as some of those sellers of the $1M and under crowd will now be able to take advantage of the buyer's market and buying 'up.' Now, we know that there are many people out there who are down-sizing due to job losses and salary cuts, but there are a few out there that are selling now because they can take advantage of a bigger 'gain' on the buy side- there are still growing families and homeowners needing more space. What would be the main contributing factors to this recent pickup in activity? Well, many of those first-time buyers have heard the news about the government tax incentives and are taking the opportunity to get out of renting. The other contributing factor could also be the fact that home prices have really started getting to price-points that buyers feel are great deals... This is a recipe for success for everyone and what could be the start to our real estate market stabilizing! We're staying optimistic!
Ok- shutting down and tuning into the Academy Awards Fashion Police... (Now you know which one of us is writing tonight's blog!) :)
Ok- shutting down and tuning into the Academy Awards Fashion Police... (Now you know which one of us is writing tonight's blog!) :)
Monday, February 9, 2009
Wow! What a weekend! We are hoping that the sun and temps don't change too much from what we experienced this past weekend... and maybe this weather will encourage more buyers to come out and get excited about home shopping again! That, combined with the stimulus package (due to be revealed on tomorrow,) may be just what we need to get this real estate market moving again... only time will tell.
We did, however, see some boosts in our local activity this past week- 11 new listings came on in Darien- this is a higher number than we've seen in a while. Could this mean that sellers are ready to get serious and back in the game? We saw an absolutely gorgeous new listing on Tokeneke Trail on Thursday- sitting right on the inland lagoon, with all sorts of wildlife to witness, the home was built in 2007 and is listed for $4,625,000. With so much attention to detail, a unique style combined with classic elegance, and a separate guest cottage, this home has it all. To top it off, the home is situated so that it maximizes the sunny exposure, while still being able to take in nature preserve-like setting of the lagoon. If you'd like to see it, give us a call!
On the opposite end of the spectrum, it seems to us that true first-time buyers (not first-timers that can spend $1M!) are seeing more opportunities to move to Darien. The prices have shifted enough that there are a number of homes that have become available for sale under $600,000 (11, in fact!) Since prices started climbing drastically in the late 90's, many of these more affordable homes appeared to be mainly tear-downs or major rehab projects- this is not necessarily the case anymore! While it's true that most of these are on busier streets or perhaps further from town center, they are an 'in' to a town that had been virtually impossible to buy into for so many buyers in recent years.
One that just reduced down to $575k this week is on West Avenue and seems to be in good condition, on a 1/4 acre, with a 3 car garage.
If you'd like to receive any detailed info about the properties that we are talking about, (or any others,) please do let us know!
Have a great week! We are keeping our fingers crossed for more sun & higher temps!
We did, however, see some boosts in our local activity this past week- 11 new listings came on in Darien- this is a higher number than we've seen in a while. Could this mean that sellers are ready to get serious and back in the game? We saw an absolutely gorgeous new listing on Tokeneke Trail on Thursday- sitting right on the inland lagoon, with all sorts of wildlife to witness, the home was built in 2007 and is listed for $4,625,000. With so much attention to detail, a unique style combined with classic elegance, and a separate guest cottage, this home has it all. To top it off, the home is situated so that it maximizes the sunny exposure, while still being able to take in nature preserve-like setting of the lagoon. If you'd like to see it, give us a call!
On the opposite end of the spectrum, it seems to us that true first-time buyers (not first-timers that can spend $1M!) are seeing more opportunities to move to Darien. The prices have shifted enough that there are a number of homes that have become available for sale under $600,000 (11, in fact!) Since prices started climbing drastically in the late 90's, many of these more affordable homes appeared to be mainly tear-downs or major rehab projects- this is not necessarily the case anymore! While it's true that most of these are on busier streets or perhaps further from town center, they are an 'in' to a town that had been virtually impossible to buy into for so many buyers in recent years.
One that just reduced down to $575k this week is on West Avenue and seems to be in good condition, on a 1/4 acre, with a 3 car garage.
If you'd like to receive any detailed info about the properties that we are talking about, (or any others,) please do let us know!
Have a great week! We are keeping our fingers crossed for more sun & higher temps!
Tuesday, January 20, 2009
Monday, January 19, 2009
Ok.... So we've got more of the same of the beautiful white stuff coming down from the sky, which means some extra deterrent for showing properties...
We're thinking that maybe we'll just share some negotiating techniques that we've learned. The man who provided us with these fantastic tips is John Hamilton. He is what we'd call a 'Master Negotiator' and we were lucky enough to hear him speak this past year as a treat. If you're interested in learning more about him, his website is http://www.jhseminars.com/
So seeing as how we're in what we call a 'Buyer's Market,' we thought we'd just throw out this idea list from John Hamilton's negotiation tips. This one is for the sellers out there that might be thinking of putting their home on the market, but are not sure how to best price the home in such a challenging market...
13 Pricing Misconceptions
Beware the Loss of Objectivity
Home sellers are too prone to adopt costly misconceptions, such as…
1. Thinking buyers won’t notice the flaws and detriments of their house.
2. Believing what others tell them they can get for their house.
3. They’re entitled to get back every dime they’ve invested in maintaining the house.
4. They’re entitled to more money because they’re moving to a higher priced area.
5. Buyers will appreciate the every décor and decorating effort of the sellers.
6. Buyers will notice and appreciate how well the house if built and pay more for it.
7. Most neighborhood sellers sell at their list price.
8. Every price must have a ‘negotiating cushion’ well above its likely value..
9. If agents would simply promote the property more any price can be realized
10. Regardless of price, agents will show it.
11. Buyers will make offers regardless of the ask price.
12. If one waits long enough they’ll get their price.
13. Every seller is entitled to sell at a profit.
Sellers need to see their property through the eyes of the buyers.
So perhaps this may help some of you reading this that need to come up with a price...? If you are a buyer in today's market and would like some additional negotiating tips, just let us know!
In the meantime, enjoy the lovely snow & stay safe and warm!
We're thinking that maybe we'll just share some negotiating techniques that we've learned. The man who provided us with these fantastic tips is John Hamilton. He is what we'd call a 'Master Negotiator' and we were lucky enough to hear him speak this past year as a treat. If you're interested in learning more about him, his website is http://www.jhseminars.com/
So seeing as how we're in what we call a 'Buyer's Market,' we thought we'd just throw out this idea list from John Hamilton's negotiation tips. This one is for the sellers out there that might be thinking of putting their home on the market, but are not sure how to best price the home in such a challenging market...
13 Pricing Misconceptions
Beware the Loss of Objectivity
Home sellers are too prone to adopt costly misconceptions, such as…
1. Thinking buyers won’t notice the flaws and detriments of their house.
2. Believing what others tell them they can get for their house.
3. They’re entitled to get back every dime they’ve invested in maintaining the house.
4. They’re entitled to more money because they’re moving to a higher priced area.
5. Buyers will appreciate the every décor and decorating effort of the sellers.
6. Buyers will notice and appreciate how well the house if built and pay more for it.
7. Most neighborhood sellers sell at their list price.
8. Every price must have a ‘negotiating cushion’ well above its likely value..
9. If agents would simply promote the property more any price can be realized
10. Regardless of price, agents will show it.
11. Buyers will make offers regardless of the ask price.
12. If one waits long enough they’ll get their price.
13. Every seller is entitled to sell at a profit.
Sellers need to see their property through the eyes of the buyers.
So perhaps this may help some of you reading this that need to come up with a price...? If you are a buyer in today's market and would like some additional negotiating tips, just let us know!
In the meantime, enjoy the lovely snow & stay safe and warm!
Tuesday, January 13, 2009
Ok, so with a little snow & ice, our weekend activity might have been slowed...JUST a little... :)
But, even with that thrown in there, we saw a little more activity trickle into the market this past weekend. A few agents reported increased traffic at their open houses, and also that some potentially viable buyers walked through the door! Even further than that, agents at the office over the weekend reported a few more phones ringing, which is always a good sign. January is always tough to predict, snowstorms being such a variable...
Though Joe and I were skiing over the weekend, we heard that the Darien Library Grand Opening went off without a hitch! Check out the sight with some photos of the event at: http://www.darienlibrary.org/
Also, we did get our year-end reports showing Darien averages, etc, so if you'd like us to pass along that info, just let us know at:
douglasandwarren@pruct.com
As far as real estate goes for the remainder of the month, we expect it to continue a slow-but-steady pick-up in the activity... The buyers out there are finally seeing that taking advantage of these rates would be in their best interest in 2009, and sellers have an opportunity right now to 'trade-up' if they want to make a nice gain on the 'buy' side- so this could be a win-win for everyone if we all play our cards right.
Meanwhile, we are working so hard at the office, Rosie is exhausted! No worries- we are still here to answer the phones if you have a questions- feel free to call! (203)853-9999.
But, even with that thrown in there, we saw a little more activity trickle into the market this past weekend. A few agents reported increased traffic at their open houses, and also that some potentially viable buyers walked through the door! Even further than that, agents at the office over the weekend reported a few more phones ringing, which is always a good sign. January is always tough to predict, snowstorms being such a variable...
Though Joe and I were skiing over the weekend, we heard that the Darien Library Grand Opening went off without a hitch! Check out the sight with some photos of the event at: http://www.darienlibrary.org/
Also, we did get our year-end reports showing Darien averages, etc, so if you'd like us to pass along that info, just let us know at:
douglasandwarren@pruct.com
As far as real estate goes for the remainder of the month, we expect it to continue a slow-but-steady pick-up in the activity... The buyers out there are finally seeing that taking advantage of these rates would be in their best interest in 2009, and sellers have an opportunity right now to 'trade-up' if they want to make a nice gain on the 'buy' side- so this could be a win-win for everyone if we all play our cards right.
Meanwhile, we are working so hard at the office, Rosie is exhausted! No worries- we are still here to answer the phones if you have a questions- feel free to call! (203)853-9999.
Monday, January 5, 2009
Happy '09 Everyone!!!!
Hi all! Well, we’re kicking off 2009 with a quiet start, but this is usually the case for the first week in January. It would be nice to follow our normal ‘Spring’ trends and pick up business activity come mid-month, but only time will tell… We all know that we are in a different market than we have been before, so let’s keep our fingers crossed that the mortgage rates help us start the new year off with a bang!
So no news yet, but stay tuned next week for more updates and perhaps a little more insight into what the rest of our winter is going to look like here in Darien!
We hope you and yours had a happy & healthy holiday season and we wish you the best of everything in 2009!
So no news yet, but stay tuned next week for more updates and perhaps a little more insight into what the rest of our winter is going to look like here in Darien!
We hope you and yours had a happy & healthy holiday season and we wish you the best of everything in 2009!
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