Karen Brewer

Buyers Category

Property of the Week, 4 Duffy’s Lane. $1,399,000.

I wrote about this house back in January before it was ever listed. Well, 4 Duffy’s Lane in Darien, CT is now on the market.At an asking price of $1.399 million it resides right in the “sweet spot” of  Darien home sales. The most popular price point is the $900K-$1.5 million range and these homes allow first time buyers and those trading up in town to take advantage  of a nice location and more than a postage stamp sized yard for the little ones.

This home is on over 2/3 acres,set back from the street on a coveted cul de sac, convenient to town and transportation to NYC. The street has a couple of dozen kids living on it, and is a chip shot to the heralded Darien YMCA. Its a mini neighborhood!

With 4 generous bedrooms,a new kitchen and new master bath, there is very little to do in this home. The basement is finished and has outdoor access so the children can run in and out to the yard which is flat and generous. There’s a fireplace in the living room and a family room just off the kitchen.

It’s a move right in home. Call me for a showing of 4 Duff’ys Lane. I’m available this weekend. 203-554-0951 or kmbrewer2@aol.com

State of the Market, Darien Homes for Sale

I usually post the new listings and closed prices each week for Darien real estate but lists and charts can only go so far.What those weekly reports lack (and I’m just as guilty of putting them out there as anyone) is context.

The spring Darien real estate market has gotten off to a belated start but has finally begun. In my mind, there is good news and bad news. The good news is that there 22 accepted offers in the past month, with some homes selling in under a week and some in multiple bid situations.

I’ve opined ad nauseum about how pricing is KEY and those who do it correctly will be rewarded-quickly. Those who don’t are doomed to chip away at their asking prices and drag out the situation. To prove the point there were no less than 43 price reductions last month across ALL price ranges. That’s the bad news. It looks as though in spite of brisk sales activity,the market is continuing to decline. Many of the reductions are coming from older listings where homeowners are coming to grips with the market realities.The trend is disturbing and I’ll keep updating as the spring continues.

For those in the market to buy, it is still a great time with new listings coming on the market daily, interest rates at a low point and prices moderateing . I was hoping we were “at the bottom” but it looks like we have to go just a bit more. You can never time a market bottom perfectly but “really close” is just fine too.

Contact me at kmbrewer2@aol.com directly for more information or return to the home page and sign up for a Listingbook account and track the market just as I do.It’s free.Really.

Postcards From the Edge….Darien Homes

This has nothing to do with Darien CT real estate but today I had an interesting experience. While showing a home, I was bitten by a pit bull. Luckily, it decided to let go after a second or so. As my husband wryly remarked,”Well, you didn’t get a sale, but you got a bite. I feel like Rodney Dangerfield….no respect.

Property of the Week, 64 Cedar Gate, Darien, CT

I sometimes hear from home buyers that they are not interested in the basic Colonial or Cape Cod syle home that is so ubiquitous here in Darien,Ct.They want something a little offbeat,or eclectic. One such home is currently on the market.  It is located in the private Cedar Gate association and is number 64. Cedar Gate is a part of the prestigious Delafield Island Association in Darien. Although minutes from downtown and major highways, it is like a world of its own and unlike other neighborhoods in Darien. No white picket fences and manicured lawns.Cedar Gate is deeply wooded,winding and unusual .Homes range from English stone cottages and colonials to hilltop, Tudor styles.

64 Cedar Gate is a 1916 artists cottage big enough for a family with two or three children.  The house is situated on a level and VERY private half acre in the Delafield Island area. 64 Cedar Gate has a  two story vaulted ceiling in the living room and master suite. A massive stone fireplace rounds out the picture.All the other rooms which include three more bedrooms and two and a half baths, a step down family room with old fashioned split door and a sitting room in the master bedroom area. The exterior is level and has a cool stone patio as well as a detached two car garage.You can even walk to the train!

For a tour of this private home or more pictures,contact me Karen Brewer, at 203-554-0951

Darien Town Fireworks Could Return This July

For a number of reasons which are no longer important, Darien discontinued its annual Fourth of July Fireworks display.When my kids were little we’d pack up blankets and a picnic and converge on the high school field to view the shown. (A particularly memorable 4th was known I lost my daughter Chrissie in the crowd and the master of ceremonies announced from the stage that he’d found her.

Owing to the efforts of a very proactive Darien resident, we may well have the family pyrotechnics return this July. Sounds like logistics have been worked out and now just a matter of raising the funds. I’m in. How about you?

Property of the Week, 8 Flintlock,Norwalk Ct. $469,000.

ATTENTION FIRST TIME  CT HOME BUYERS!  As a favor to a good friend,I conducted a public open house at this great house in Norwalk,CT and thought I’d share the information. It is the perfect starter home , great for someone with a couple of children, teenagers, or even visiting family. How can one house be all this. First of all,the house is located on a cul de sac in Norwalk, making it perfect for those with young children. There are three bedrooms on the main level as well as 1 and one half baths on this floor.  The street is full of kids and block parties.

The baths as well as the kitchen have been completely and tastefully remodeled,Stainless appliances, granite counter tops,tumbled marble back splash, new bath fixtures etc. There is a full living room,dining room and separate step down  family room. On this level of the house, one child, two children, no problem.

But what if you have older kids or teens? No worries. 8 Flintlock has it all. A FULLY FINISHED BASEMENT complete with seating area, two bedrooms and a FULL BATHROOM. Again- all in immaculate condition.

There is a deck, and a lovely backyard with babbling brook. Don’t take my word for it. Take a look at the photos. Or call me for a video of the property. Let me know whats important to you about this home, I’ll capture it on video and send it off to you. Reach me at 203-554-0951.

8 Flintlock is off of West Norwalk Road minutes to the Post Rd, Darien and New Canaan shopping districts. The nearest Metro North station would be Darien which is about 2 miles south of Flintlock. At $469,000 this home has it all.

Open Houses,Darien,CT Real Estate,March 6,2011

Here is the list of this week’s open houses in Darien Ct. This is a great cross section of properties from exclusive waterfront(North Road) to starter homes(Phillips Lane).If you’re looking to buy a home this spring in Darien, this selection of homes will offer a good overview of relative values in town.Match these up with “sold” properties provided by your Realtor and you’ll be able to figure out the pricing structure in Darien. Don’t want to bother with excel spreadsheets….call me. I’m a human Darien real estate spread sheet! 203-5540951 or kbrewer@wpsir.com.

 

4 Duffys Lane, Darien: Sunday, 12 p.m. to 2 p.m., $1,429,000

44 Phillips Lane: Sunday, 1 p.m. to 3 p.m., $799,000

5 North Road: Sunday, 1 p.m. to 3 p.m., $4,375,000

55 Allwood Road: Sunday, 1 p.m. to 3 p.m.,$2,595,000

54 Christie Hill Road: Sunday, 1 p.m. to 3 p.m.$2,495,000

180 Old Kings Highway North: Sunday, 1 p.m. to 3 p.m.$1,249,000

214 Old Kings Highway South: Sunday, 1 p.m. to 3 p.m.,$1,149,000

33 Beach Drive: Sunday, 1 p.m. to 3 p.m., $2,199,000

122 Hollow Tree Ridge Road: Sunday, 1 p.m. to 3 p.m.$1,095,000

18 Five Mile River Road: Sunday, 1 p.m. to 3 p.m., $1.395,000

30 Leeuwarden Road: Sunday, 1 p.m. to 3 p.m.,41,395,000

Darien,CT Real Estate, Year to Date report

Two months does not a trend make but for those of you who are following the numbers closely, these are all going in the right direction for what is affectionately termed a “recovery”. I think of it more as physical therapy….one foot in front of the other….until we’re on our feet again.Real estate markets are like people…they heal at their own rates and this one is no exception. The patient is doing well.

Mortgage Fees Set to Rise this Spring

A recent article in the Wall Street Journal reports that the cost of getting a mortgage is about to get a lot more expensive. If you’re thinking about buying a home here in Darien or just about anywhere ,consider the following:

• Fannie Mae and Freddie Mac are adding new fees to borrowers with even the best credit ratings.Previously,there had been no fees assessed on those  with credit ratings of 720 or higher who put down less than a 25% deposit.Now there will be a fee of 0.25% to 0.5% of the loan value for those  borrowers. Those with credit scores of 700-719 and a 20%or less deposit will be assesses a full percentage point on the loan.
• The Consumer Financial Protection Bureau a new agency will be analyzing how  interest rates and closing costs are disclosed to consumers.Undoubtedly, this will result in consumer education programs and more paperwork the cost of which almost always gets passed down to the consumer himself.
• The Obama Administration is proposing a reversal in loan limits for high cost areas back to $625,000.Loans up to that amount will be considered “conventional.” Anything above that will require a “jumbo” mortgage and those rates are traditionally a half a percentage point higher. In a town like Darien, changing that limit may make the cost of the loan too expensive effectively excluding some first time buyers from the market.

There are a number of other changes coming up that will affect not just the Darien real estate market but all markets. FHA loans,primarily aimed at moderate income families will carry greater fees and the mortgage insurance associated with those loans will be harder to get.

Just when the market seems to be rallying,there are new hurdles to overcome.If you’re thinking of buying real estate, this could be the best, or at the lease the cheapest time to “pull the trigger”.

14 Broker Open Houses Tomorrow

Here we go….as promised… the Darien real estate market will begin to heat up as the weather warms.Tuesdays and Thursdays are”Broker Open House” days and tomorrow will be busy one.There are 14 homes on the tour in Darien and Rowayton alone.Some  of the homes for sale are inventory leftovers from the winter but many are new and range in price from $700K to $6million.Ladies and gentlemen…..start your engines.