Karen Brewer

Sellers Category

Darien, Ct Real Estate Market Report ,Feb1,New Listings and Sales..

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.

 

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.

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.

Darien Real Estate Third Quarter Market Report

Every quarter William Pitt Sotheby’s International Realty puts out a comprehensive report on the state of real estate in Connecticut.They do a much more comprehensive job than I can in this space. So if you are thinking of buying or selling a home in Darien or elsewhere in the area,do not pass GO. It’s a must read.

http://viewer.zmags.com/publication/ddb5fafd#/ddb5fafd/1

The Darien,CT Blog Post I Never Wanted to Write….

I cannot tell a lie.We have a problem in Darien,CT.As my readers know,I’ve lived here in Darien for over 25 years and it is one of the safest communities I know of. You can send your children to sleepovers without worrying for them,walk the streets at all hours and until recently leave your home for a few minutes or go on a vacation without worrying.

However,recently there has been a rash of burglaries that have left residents unnerved. Now,in the spirit of full disclosure there has always been the odd burglary but mostly crimes of opportunity, i.e unlocked cars and homes. Now though, there have been four or five” break ins” that seem to have been committed by professionals.

Of all things, these people enter  homes by breaking through a wall or even removing parts of a roof and “dropping in”, as it were. Presumably this is to circumvent alarm systems and break directly into master bedrooms or areas that don’t contain motion sensors. Pretty slick. No one has been harmed or to my knowledge even at home when these crimes occur which leads one to believe these are experienced criminals who “case the joint”. (too much Law and Order,sorry)

That said, this is among the worst things that has happened here in recent memory and I suppose we should consider ourselves lucky.After all,it’s just stuff.

 

Pre-Sale Inspections A Smart Move for Sellers….Darien Real Estate

In the State of Connecticut,homes sales follow a specific procedure.First a bid is made and hopefully accepted. Then, quick as a bunny, the Realtor assists the buyer in scheduling a home inspection. Then, WE PRAY.

The results of home inspections here in Darien and elsewhere are responsible for many of the glitches in a home sale. Invariably,inspections will turn up a myriad of problems with dated wiring, furnaces,roofs,plumbing etc. Mostly the problems are minor but they can throw the transaction into slow motion as the homeowner either gets chewed down in price or remediates the problems.

Just as you would spruce up the interior of your home before listing it,I highly recommend spending $500 or so on a pre sale inspection.You will learn if your roof is at the end of its life,if there is evidence of pests or termites among  other things.THEN you can decide to fix the problems or build them into your pricing without being under the gun to get to the contract stage of things.

There is nothing worse than pricing a home for the current market and then being ”nickled and dimed ” after a less than stellar inspection.

One caveat here is that prospective buyers will probably want to do their own inspection anyway to insure reliability but its a great selling point to have a documented inspection while marketing and may save you, the seller big bucks down the road.

Just for Fun Friday….Worst MLS Photo Award

Sometimes while searching through the MLS, I come across photos that I just cant believe! This is certainly one of them.