The Golf Coast Standard

Archive for the 'Market Trends' Category

Darien and Fairfield County Home Rentals,A Tight Market

This weeks New York Times, Real Estate section ran an accurate article about  home rental conditions in Darien,CT and surrounding towns.They include  the  rentals at Yale and Towne in Stamford which I wrote a post about a few weeks ago. The market for Fairfield County rentals is tight and anyone looking would be well served by reading the article.

http://www.nytimes.com/2010/08/22/realestate/22wczo.html?_r=1&scp=1&sq=in%20the%20region%20connecticut&st=cse

Rental Potential, Darien Real Estate

For one reason or another the rental market in Fairfield County is on fire. No sooner do homes for rent come on the market as they seem to disappear.Its not uncommon for a rental to be listed and leased in one day. During the dog days of August, I think people are looking last minute to get their children in school or have given up for the year on finding their dream home.

Whatever the case, it takes a good Realtor to figure out where dormant rentals may be. A current client has just recently sold their home and (yes I sold it for them) and needed a rental as soon as possible.We saw just about everything on the market in their price range and came up empty.With the clock ticking I decided to use my access to the Fairfield County Multiple Listing Service to look up homes and condos that had been on the market over 120 days to see if those homeowners would be willing to rent.

As a Realtor I have homeowner and listing broker information for all listings in Darienand surrounding towns,something the average renter or home buyer does not.(in spite of the Internet age).I called about a dozen of them to see if they were willing to rent for a year and voila, I got a couple of new properties to show that previously had only been on the market for sale.

I found the rental for my client literally by looking in places they dont exist.Similarly Realtors have knowledge of listings that are yet to come on the market and may be just what you are looking for. The moral of the story”Sometimes you have to dig to find what you’re looking for.”

Still think you dont need a Realtor?  The Internet can’t do it all.Call me if you need help.203-554-0951

Tags: darien rental, rentals

Darien and Coastal CT , Real Estate Market Report, Jan-June 2010

 William Pitt Sotheby’s International Realty continues to put out a great quarterly report on the state of the real estate market here in CT.The hyperlink below takes you to the report which graphs activity in the CT market for the past six months. Thoue report is devoid of the mumbo jumbo and macroeconomic slant of other publications and offers a look backward as well as makes modest predictions for the future of the market. Every town is coastal CT and Litchfield C ounty is analyzed, year to date,year over year,by price point and broken down by homes,land and condos.

Bottom line is that prices most likely have bottomed out at between 15-30% below pre-recession levels.Buyers have come back into the marketplace owing to low interest rates and a sense that the bottom has been realized.Take a look at the numbers for your town or one where you are considering moving. For better or worse,buyer or seller these are the facts and they feel much better than last year.William Pitt
Adobe PDF version – http://www.wpsir.com/u/marketReports/wpsir/rp_8.pdf
Magazine version –  http://viewer.zmags.com/publication/1ff19b6c#/1ff19b6c/1

Darien Real Estate Market Activity Report,July 7,2010

This market continues to chug along nicely. eight new listings,nine accepted offers or deposits. Price points are popular across the board with the tippy top end still soft.Stil no oneis complaining.The difference this year has clearly been that the fear factor has evaporated from this market.Buyers are out there in force, the banks have loosened up some. Prices, it should be noted have not ticked upward. They remain soft but it appears that sellers are making peace with the situation and no longer over pricing AS MUCH.Barring some national or international seriously bad news I hope to see the trend continue into the fall after a predictable,summer hiatus.

 

 

Darien Real Estate Market Report,May 26,2010

 

 

Here is this weeks Darien real estate market report.As has been the case since January,the entry point of up to $1.5 million remains the strongest with most deposits and closings.

My favorite new listings include Circle Road which is a pristine colonial with good bones although it does sit on a relatively busy street.

As always, if you wish to see any of these properties or want a video produced just for you,contact me at kmbrewer2@aol.com.

Darien Real Estate Market Report,May 12,2010.

Wall Street Journal Heralds Return of the “Teardown”,Darien Homes for Sale

An interesting article in today’s Wall St.Journal is trumpeting the return of the “teardown” in CT.That’s the affectionate term for homes of a certain vintage that are beyond rehab or are located on a parcel that could be otherwise “optimized”. While its true that the market has literally bounced like a rubber ball ,I haven’t seen any local evidence of this so far. It may still take some time for Darien builders to get back in this game. Stay tuned.

http://online.wsj.com/article/SB10001424052748703686304575228221412542494.html?mod=WSJ_Real+Estate_MIDDLETopNews

Tags: Darien builders

Property of the Week, 24 Colony Road,Darien Real Estate

From time to time there are homes for sale in the Darien CT real estate market that simply confound the Darien Realtors .The other day I walked through such a  home which, for some reason, simply has not sold despite it being a great deal.

The house is located at 24 Colony Road in Darien which is a premier street and beautiful neighborhood.Kids are everywhere,the neighbors all know each other and its probably a mile to the Noroton Heights train station as well as shopping.One of the towns great recreational resources,Woodland Park is practically in the backyard! Typically, when homes come on the market on Colony Road,multiple offers are not far behind.

24 Colony is a classic colonial,and has over 2600 sq ft of beautiful space.There is a charming built- in corner cabinet in the dining room and has it has other vintage details as well.Sited on .25 acres with 4 bedrooms and three and one half baths it is a great family house.

The home is in great condition although it’s true  that it could use some updating.The kitchen and baths need some improvements, but not major overhauls, and there is already a large,private master suite at one end of the house that could use some new decorating.But the floors have all been refinished and the property is in lovely condition.The yard may be a bit shallow for some but its fine for barbecues, a swing set and the kids to play. This neighborhood can easily withstand ANY improvements made to the house.Homes on Colony Rd have traditionally been in great demand and have sold upwards of $2million.

Why this house remains on the market is a mystery.That said,today’s,buyer does seem to favor homes that are completely redone.However, at this price, on Colony Road in Darien($1.350,000)  this residence provides a good, old fashioned opportunity for customization and appreciation.

24 Colony Road is an UNCLAIMED JEWEL on the market in Darien.

Click on the link, 24 Colony Road to view pictures and a full listing.

If you wish to see this home or ask  more questions about it,contact me at kmbrewer2@aol.com or call at 203-554-0951.

If you can’t make it to town and have further interest Ill shoot a brief video of the property and email it to you.

What You Get For The Money $700,000 Darien,Ct. Real Estate

Since the real estate market in Darien,Ct started to soften in 2007 we have seen more and more homes on the market in this price range.In Darien,Ct  homes in the $700-$800K will  be small colonials or capes of about 1,400-2,000 sq feet on up to a quarter of an acre. You can expect two-three  bedrooms,perhaps a master and 1.5 or 2 baths. These homes are usually older and can vary in condition.Most are on busy streets but if you can find one  on a quiet street,even if it needs work, it can be an excellent investment.

There are 12 homes in this price category on the real estate market in Darien as of today, April 27, and some are very good values. Here are a few of my favorites. Read the rest of this entry »

Darien Homes for Sale, First Quarter 2010 Real Estate Report

What a difference a year makes! The report for the first quarter of 2010 in Darien real estate underscore what I have been saying here on www.TheGoldCoastStandard.com. Darien homes have been coming on the market and selling just as quickly. Unlike last year, which could be characterized as sluggish and even comatose at times, this year is bringing sales across ALL price ranges and quickly.

The entry level for Darien,CT is normally the most active and this year is no exception. However, we have seen an unusual number of stratospheric listings binding within days. That is surely new. The total number of sales in Darien real estate is up almost 76 % in units and the average sale price is also up big time from $1.350 million in 2009 to $1.7888 in the first three months of 2010.Not surpisingly, dollar volume is $66million versus $28 million just a year ago.Residential Darien listings  market time is going to be coming down in the months coming owing to some recent listings that were listed and sold within a week.

The bad news, if there is any, is that prices have not rebounded and frankly no one is expecting a big bounce.

The Darien,CT condo market also remains soft as does Darien land sales.It seems builders are still trying to unload previously built homes and/or having trouble with bank financing.

What does all this mean for the homebuyer? Well, the days of sitting back,surfing the Web for Darien real estate and waiting months to make a decision  is about to undergoing a serious change.

Buyers need to step up quickly and in some cases even get into multiple bid situations. It’s Back To The Future around here…..at least for now.

Tags: Darien condo sales, Darien Ct land sales, Darien sales first quarter 2010, real estate sales 2010