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!) :)

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!