Karen Brewer

Market Trends Category

Darien Real Estate Report, Week of Sept.14

For those of you who are familiar with town and know the ins and outs,here is this weeks activity report.As you can see its precious little. Only 7 new listings and several are homes that have been relisted from a previous time.

Darien September Real Estate Market, A Big Yawn…

Since the Darien real estate market is so slow,I’ve been ruminating over what to write about. Then I realized I should just fess up and describe things the way they are.REALLY slow. Since Labor Day listings are just dribbling on to the market one at a time and half of those are rentals. The other half seem to be homes that were previously listed and are now being re-marketed at a lower price.

If you are in the market to buy a home in Darien or elsewhere and are considering waiting,Id love to know what is holding you back. Is it the economy,upcoming elections, not secure about employment?Let me know.kmbrewer2@aol.com.

Today, a glimmer of light shown since there were five new listings…three of them genuinely new,but alas no accepted offers.Hopefully, it will turn around and we’ll get a “flurry” before the snow really flies.

Darien,CT Real Estate…What to Expect This “Fall”

The hint in the headline is the word “fall”. Sure that’s the upcoming season but it has another meaning too. Today when I checked the Darien MLS for status changes of listings I was met with half a dozen price reductions. And that’s what I predict will continue to be the case throughout the autumn.In the past,  the fall market often represented  a last ditch effort to sell their homes before retreating into real estate hibernation for the winter.

As a result, sellers typically becoming more realistic about pricing their homes more in line with current conditions. I don’t expect this year to be any exception.If youre in the market, start watching closely.If your financing is in order and you see a price reduction on a listing you like,this may be the time to jump in.

Remember not all websites can offer you a full listing and pricing history of a property,so feel free to call me if you need info on a particular property.203-554-0951 or kmbrewer2@aol.com.

I Know Something You Don’t Know.I’m a Realtor Darien Real Estate

I was chatting with a colleague last night and we were discussing the current state of the real estate market in general and how it has been transformed by the Internet.It has by and large, been a great thing for buyers and sellers alike and offers information in ways no one dreamed of just a few years ago. Pictures,videos,town statistics- all at the click of a button. But there are some things the Internet can’t supply.At the end of the day, there is no photograph or chart that can offer you the information and insight of a “boots on the ground” Realtor. For example,

1.Is that adorable house on the Internet located mere steps from the interstate? Will your windows rattle in the night because it’s in the flight path of almost every plane leaving LaGaurdia.

2.Is the home located on a  preferred street for resale?

3. How close is the house to the street or will you need a electrified fence to protect your kids from traffic.

4. How do the schools differ? Really.

5. How’s the commute? Really.

6. Are taxes going up? When?

7.How long is the wait for a Metro North parking pass? Really.

8 .How crowded are the beaches? Really.

9. Why do so many homes have sump pumps?

10. How do you get your kid into nursery school? Really.

11.How many people send their children to private school? Why?

12. Are there entire neighborhoods that flood? Really.

13 .What ARE wetlands anyway?

14. What is the crime rate? Really.

The Internet, for all its advantages cant offer CONTEXT. It won’t show you whether the railroad tracks run through your yard or tell you who your neighbors are.It can’t take you under its wing and make sure you don’t make a mistake,overpay for a house, or reveal insights into the history of a home. It can’t reliably refer you to mortgage professionals, help you get your lawn mowed or answer questions when you run into it in the supermarket.  And that’s what Realtors are for.  Really.

 

 

 

Darien Real Estate Merket Update July 2011

No good news here folks. The only number in the plus category is the average days on the market.Not looking good for August either. With all this nonsense on TV regarding Washington and the like, I cant imagine consumer confidence whispering in the ears of many people saying BUY BUY.

Nothing to do with Darien Real Estate

The blogging cognescenti says that a good blog,no matter what its aim always should contain an occasional post about the authors personal life. Its supposed to make us more human and not some Realtor just spitting out data about the Darien real estate market. So okay, Ill bite.

I spent the last nine days or so,give or take one or two in various airports, on a great trip to Central Europe.Vienna,Budapest, and Prague to be exact.My husband and I went along with my sister and brother in law and a singing group known as the New Haven Chorale.

We toured the three cities,compared and contrasted, had cold damp weather as well as 95 degree heat. We stayed in OK hotels as well as a beauty in Vienna.The touring was sometimes a bit much but mostly delightful as was our sort of absent minded Viennese tour guide.

I know this has been said a million times but its never more true than when you experience it.Although Im back and totally disgusted and appalled by the political mess our country is in, America still sparkles in comparison to other countries. The people,places,history and traditons (to say nothing of food- goulash anyone?) are second to no one in the world.

They were really nice places to visit but I wouldnt want to live there.

 

 

Darien Real Estate Market Report Week of June 15

Just posting the weekly numbers again for those of you following these things.Several new listings across all price points.Lots of price reductions as well.Number of accepted offers continues to be low with buyers seemingly going toward renting.

 

Spring Is Peaking in the Darien Home Market

No, I’m not talking about the weather,heaven knows.Im talkin’ real estate, as always. The next two to three weeks will be the peak of the spring real estate market in Darien,Ct.From then on, new listings will become scarcer and those left remaining  on the market will be overpriced or unloved for one reason or another.

 I also mentioned in a previous post that the State of CT conveyance tax will increase as of July 1 further incenting sellers to get their home sales “buttoned up” by that date.

 If you are in the market for a home in Darien and have been on the sidelines, strap on your helmet and dive in.The market continues to offer well priced opportunities at historically low interest rates.If you’re just looking online,driving by properties or waiting for the exact, perfect thing…you’re not in the market,you’re just watching.

The same is true for sellers. If you really want to sell your home there are buyers out there for those who understand the “new normal” of pricing. Failure to “get it” will result in your remaining in your home another year and risking further market decline.

CT Real Estate Sales Tax Increased,Darien Homes

Just when we thought it was safe to dip our toes back in the real estate market in Darien and Fairfield County the government goes and steps in. It’s no secret that Connecticut like so many other states are facing huge budget deficits.So in its infinite wisdom the legislature  has raised the cost of selling a home.

Connecticut has long had what is termed a “conveyance tax”. Basically that means when a homeowner sells property, there is a sales tax levied.The new law that goes into effect on July1 of this year raises that tax.The new rate for properties under $800,000 goes from .5% of the sales price to .75%.

Homes over $800,000 pay what is affectionately called a “mansion tax”. That rate goes from 1% to 1.25% as of July1.

So, if selling your home hasn’t been stressful enough what with a continually declining market here in Darien ,you can sleep well knowing you just lost a few more bucks to Hartford.

What effect this will have on the Darien real estate market is unknown but anyone trying to sell their house has an added incentive to get the deal done by July 1.

Darien, CT Homes,How to Buy or Sell A Home in 2011

The beat goes on in Darien,CT and Fairfield County real estate.The market is robust and the market numbers for the month of April when they are tallied will bear me out.At the risk of sounding like a broken record, the spring market has arrived and as regards sheer volume of homes being sold,is doing quite nicely.The only issue whether you are a buyer or a seller, is one of pricing.

The homes that are selling are the ones where there is perceived value and are in line with the market. Real estate is a market like any other whether it’s coffee beans or stocks and bonds. There are external factors of the economy,supply and demand over which we as agents and  buyers or sellers have no control. It doesn’t matter if for example you think Apple stock  is overpriced. If you wish to buy now, you will pay the market price.The same is true of selling.Just because you believe your company stock is undervalued,doesn’t mean the market will perform to your expectations.

If you are a seller in this market,have had adequate numbers of showings and are seeing homes selling above and below your price range,you are almost surely priced incorrectly.Likewise, if you are a buyer and losing homes to other buyers, stop digging in your heels. The buyers have come back in force,lending is loosening up and there will be a someone right behind you. 

The spring market is short and will be gone in 60 days or so.If you want to buy or sell a home in Darien or anywhere really,loosen your hold on what YOU think a home is worth,put your ear to the ground and listen.