Karen Brewer

How Do Real Estate Websites Differ? Darien CT Real Estate.

I was talking to a friend the other day and she said that she visits many realtor websites thinking that different real estate agencies will show different properties. I told her that  all Darien brokerages participate in a local MLS and that it populates all websites, but she didn’t really get it.

Here’s the deal. MLS stands for Multiple Listing Service and that is exactly what is is. The Multiple Listing Service was originally formed as a tool for Realtors to communicate with each other regarding properties for sale and an agreed upon commission arrangement .For a fee, Realtors join the MLS and there are still hundreds across the country. There all agents see listings in their town or area and in the past they (the Realtors ) kept all the information proprietary. (I’m sure many of you remember a day when Realtors drove around with black binders full of listings and if you were lucky, you got to look through it.)

Enter the Internet and all those black book listings became available directly to consumers through Real Estate Brokerage websites and sites such as Trulia,Zillow and Realtor.com.No longer were Realtors the keepers of the information..now everyone had it.

Small local MLS’s consolidated, syndicated the information and now use it to populate sites like Trulia etc. It’s all coming from one source so the data is the same,wherever you look. Of course, the Trulias and Zillows of the world  know that the data is identical and try to develop “value added” info…hence things like Zestimates are created.

There were and continue to be, smaller, Mom and Pop brokerages who  have what is known as” pocket listings” or “exclusives” that are not on the MLS. However, their days are numbered.First, these boutique firms are being gobbled up by larger ones and it’s the rare occasion when there is a house for sale that isn’t on the MLS and hence the Internet.In fact, it’s a huge disservice to a seller  since any homeowner should demand the widest possible marketing for their home.

THAT SAID, you may notice that a house can appear to be listed by one agent on say a XYZ Realty.com and  by another agent on ABC Realty.com . The MLS  allows agents to brand listings with their Brokerages’websites name regardless of whether it’s their listing or not.Confusing for the consumer,you bet. But that’s the way it is right now.

Long story short, almost all available properties in a town (in the case of Darien it’s 96% or more) are populating  real estate websites from one source…the local MLS. Other than being  confusing as to the identity of  listing broker, there is NO REASON to visit multiple websites in the hope of finding more or different properties Pick one you like and stick with it. William Pitt Sotheby’s has just rolled out one of the most beautiful and easy to search sites out there so,be sure to go there. Or,sign up for an account with Listingbook on this site and you’ll get the MLS feed like everywhere else and other great features like real time price reductions,selling prices, email notice when homes have bindered and open house schedules.

Clear as mud? No problem.Call me for further explanation.203-554-0951

New Feature,Darien Real Estate Market Tracker

Starting in 2012,Ill be publishing at least monthly, the Darien,Ct Market Tracker which will allow readers to keep on top of the broader trends affecting Darien, Ct real estate. This is in addition to articles about local flavor, individual properties and general real estate stories and information. Hope its helpful.

 

The Gold Coast Standard and 2012,There Is Much to Learn, Grasshoppers…

Well one way or another you have found your way to this blog.As advertised I try to write about news and views of living here in Darien,CT. Yes,I am a Realtor and yes I do want your business. But I could go about prospecting for business by advertising on say Facebook,Trulia,Zillow etc which, from time to time, I do indeed tinker with.

But what I hope to really accomplish here is to fill in a much needed gap between information and insight…Information is everywhere.You know how it goes…3 bedrooms, two baths, dead end street… misleading photos.If you ask me its dead end information.

What is it like to live on that “dead end” street? Does it lead to the town dump? Or a nice little park? And what about those three bedrooms? Does the master bedroom face train tracks. You get the idea. I’ve posted about this before and its all about context baby. When you’ve gotten your Zestimate or whatever they are calling it these days come to www.TheGoldCoastStandard.com to find out what the neighborhood is like,how long your kid will have to ride on the bus and whether the highway is expanding into your backyard.I also provide links to Darien Patch and local newspapers to increase your feel for the place. After all you cant live in a Zestimate.  And that’s what I hope to accomplish in 2012. If I sell you a home in the process, well, win-win. Call me. 203-554-0951 or just keep tuning in here. There is much to learn grasshoppers.

Darien Real Estate Market Report, January 2012

Happy New Year everyone. Below is the first  Darien home market report for the new year of 2012.As always the report shows,new listings (appearing very slowly),deposits and closings. There have been no accepted offers that I know of in the past couple of weeks. We are off to a slow start but in real estate we see more listings and sales as the weeks go on. If you’re thinking of selling, I really don’t see any reason to wait until spring. There are buyers out there on the sidelines and there is nothing to lose except having people compare your house to a larger inventory that waited ’til the crocus bloomed. Just sayin…..

 

Darien Homes Market Outlook for 2012

Year end numbers have not been released for Darien, Ct and environs, but that won’t stop me from making some general predictions about the real estate market in 2012. None of this is earth shattering but Fairfield County typically acts as its own market within the state of Connecticut and trends here are worth observing since they diverge somewhat from other areas.

Everyone constantly asks, “How’s the market?” There is no one answer.

Homes are selling, although not at previous levels,and will come out below 2010. We do not have a foreclosure problem. I believe we have hit the bottom. So what’s next? I characterize the Darien real estate market as being in a ”suspended state” with positive and negative factors offsetting each other. For example, prices are at an all time low as are interest rates. However, we have not seen a significant loosening of defensive lending procedures from the banks making it difficult for all but the “creme de la creme” of applicants.

I don’t expect any further  free fall of pricing here in Darien or other Gold Coast towns and Ido believe the prices have stabilized . Again,our “suspended state” encountered multiple bid situations in 2011 when the market perceived unusual value. It doesn’t mean prices are rising. These are just one off situations and lend credence to the notion, that “If you price it right, they will come”.

If upward trends reveal themselves across the country,  I believe Darien and Fairfield County towns like it, will be among the first to recover fully. The “bubble” here existed as in other parts of the country, but underlying that bubble was intrinsic value, namely, proximity to New York City, waterfront and excellent municipal services. Darien,Greenwich, Westport homes  were never built on a house of cards.

One of the key determinants for 2012 will be buyer confidence and the psychological factors governing real estate. Sure those people who can afford higher priced home say $2million and up are fairly impervious but uncertainty has an unusua land sometime overblown  effect on people. If buyers or seller perceive bad news is coming or remain uncertain about their prospects, they tend to hunker down. This is reflected in the real estate market,stock market etc. That said, barring any further shocks to the economy people should begin to feel more optimistic about the future. Retail Christmas sales this year might portend good news for the way people are generally feeling.

So to all of you who claimed to be waiting for the bottom of the market,—its here.Interest rates are low,sellers have become more realistic and Darien, Ct remains an excellent investment for those planning on staying here five to ten years. I can be contacted at kmbrewer2@aol.com or 203-554-0951 for consultation.

Cesco’s Trattoria Comes to Darien,Now You Really Have to Move Here…..

We had our William Pitt Sothbey’s International Realty Christmas party in this new restaurant located in downtown Darien and I was blown away. Darien had seen a big uptick in the number of new reswtaurants in the past few years but this may be the best. The restaurant itself is in The Goodwives Shopping Center (yes that’s really the name), right in the middle of town.

The owners,Also and Barbara set up the most yummy buffet. All the dishes were totally authentic and delicious. Little crispy purses of mushrooms and peppers, fabulous Italian cheeses, homemade gnocchi in red sauce, bruschetta and biscotti still warm from the oven were among the offerings. The full menu contains pastas,and yummy entrees including a special lasagna served in its own little pot. Prices seem reasonable (just like Darien real estate) from $10-$25.

I guess I’ve been a little behind the curve on this one, since nearly all my fellow Realtors had already been to the place,multiple times in fact.

The atmosphere casual and intimate, the lights are dim and there are a limited number of tables so be sure to make a reservation.My favorite trick with new restaurants is to wander in on a Monday evening when they are quiet and you can have the attention of the chef.

I’ve just made a reservation for Friday evening so I’ll give a full report. If my meal is anything approaching the quality of the offerings at the William Pitt party, brava to Cesco’s.

Just one more reason to buy a home in Darien!!

 

.<a href=”http://www.urbanspoon.com/r/297/1626878/restaurant/Stamford/Cescos-Trattoria-Darien”><img alt=”Cesco’s Trattoria on Urbanspoon” src=”http://www.urbanspoon.com/b/link/1626878/biglink.gif” style=”border:none;width:200px;height:146px” /></a><a href=”http://www.urbanspoon.com/r/297/1626878/restaurant/Stamford/Cescos-Trattoria-Darien”><img alt=”Cesco’s Trattoria on Urbanspoon” src=”http://www.urbanspoon.com/b/link/1626878/biglink.gif” style=”border:none;width:200px;height:146px” /></a><a href=”http://www.urbanspoon.com/r/297/1626878/restaurant/Stamford/Cescos-Trattoria-Darien”><img alt=”Cesco’s Trattoria on Urbanspoon” src=”http://www.urbanspoon.com/b/link/1626878/biglink.gif” style=”border:none;width:200px;height:146px” /></a>

 

 

 

 

Just for Fun Monday,Worst MLS Photos

THESE THINGS CONTINUE TO AMAZE ME WHENEVER I COME ACROSS THEM.

THIS HOME FEATURES A FRESCOED CEILING,BOXES OF OLD BABY CLOTHES AND CABLE BILLS FROM LAST MAY.OPEN HOUSE THIS SUNDAY.

Rentals in Darien Ct, A Mixed Bag

There are lots of reasons people choose to rent in Darien. They can be renovating a home elsewhere,  haven’t found the home of their dreams in town or are test driving the area, so to speak. Then there are those that have bought a new home and found they were unable to sell their previous home and so list it for rent.

Whatever the reason, there are currently around 30 properties for rent in Darien Ct in the price range of around $3000 all the way up sometimes to as much as $25,000/month.for waterfront manses. The sweet spot at the moment, as I see it, is the $5000-$6000/mo range. That is where I believe you can get the most bang for your buck. Typically, the home will be in a nice location,not on a busy road, with around 3000 sq ft and be in good to very good condition. I’ve attached one of my favorites in this price category.It’s located on Lake Drive in a sought after neighborhood, minutes to the Noroton Height train station.Rentals can be a mixed bag;some are in poor condition and just turn over every year.This home is a showplace with new kitchen and baths,beautiful yard and great space. Completely renovated, the picture of this home speak for itself. Price is $5500/month.. For more information on this and other homes to buy or rent in Darien,please contact me at kmbrewer2@aol.com or 203-554-0951.

 

 

 

It’s The Most Wonderful Time of the Year…Just Not For Darien Real Estate

I regularly post both weekly and monthly reports regarding volume, average price,closing etc. But at this time of the year, I feel it is prudent to take a break both from what is boring and irrelevant. Real estate is a seasonal business and there is little of significance that I expect to occur between now and the beginning of 2012.Listings will dribble onto the market and homes will sell at a sluggish pace. Nothing big will occur as concerns pricing either.

That said there are a few things to keep an eye on. We here in Darien and Fairfield County are heavily dependent upon the fortunes of Wall Street. If between now and the end of the year, pink slips are handed out and bonuses reduced as predicted, that will surely impact our market. It won’t effect anything between now and January but certainly will set the tone for the upcoming spring market. As always I will keep you apprised. In the meantime Happy Turkey Day!

This Weeks Property Transfers, Darien Homes

Here is the list of this weeks property transfers here in Darien. Don’t you wish you could make the list too? You can, you know. You know who to call.

 

39 Tower Dr.: Jeffrey Scofield sold to Charles E. McCarthy and Deborah E. McCarthy for $2,235,000.

7 Whaling Rd.: Kenneth J. Kutz and Nora M. Kutz sold to Michael P. Kuehler and Karen N. Kuehler for $1,580,000.

5 Red Cedar Dr.: Andrew L. Wright and Melanie A. Wright sold to CL Darien Partners LLC (c/o Clarion Partners) for $1,360,000.

10 Red Rose Cir.: Anthony Princi and Cynthia G. Princi sold to Maura Decarolis and Suzanne Decarolis for $1,235,000.

6 Wakemore St.: Toni Lynn Darinzo sold to CL Darien Partners LLC (c/o Clarion Partners) for $1,225,000.

277 Hoyt St.: LTB Properties LLC sold to CL Darien Partners LLC (c/o Clarion Partners) for $700,000.

19 Devon Rd.: Nancy R. Knowles Est. sold to Number 19 Devon Road LLC for $610,000.

5 Red Cedar Dr.: CL Darien Partners LLC (c/o Clarion Partners) sold to Toni Lynn Darinzo for $575,000.

145 Old Kings Hwy. S: Richard Borrelli, Jr. sold to Antonio Romano and Sondra D. Romano for $500,000.

12 Wakemore St.: Pasquale J. Darinzo, Jr. and Suzanne E. Darinzo sold to CL Darien Partners LLC (c/o Clarion Partners) for $200,000.