Westport, CT

Great news In Real Estate!!!! What is this recent spike upwards in the market all about???? Real estate agents are seeing a surge in the amount of showings of homes and interest not seen in the last few months … Changing prices??? Those houses selling are still those that are the most aggressively priced and staged for a buyer. Buyers need to have a perception of value… What does this mean??? A lot of price per square footage talk out there…that is absolute rubbish…how does that give a buyer perception without the knowledge of the quality of the construction….high end design with fabulous interiors and appliances… or cheap materials and an outdated lifestyle …a lot of smoke and mirrors…also take into account the location…main road or water front…you can’t read that into a price per sq ft… Pricing your home is not a perfect science…you are dealing with a unique commodity and with that comes the usual changes in markets and flows…trying not to be emotional but making the deal happen and close to benefit all parties… How do I guide my selling clients…to get the value number in this buyer’s market? · Let’s start at a numbers calculation first… · Average out the comparable properties currently on the market · Take 25% off the medium price of those homes · Take a deep breathe and… · List your home at this price…why? · This generates more buyers · Generates more interest in your home…creates a perception of value for the buyers…and then…results… · Then come the offers and sometimes better yet…multiple offers from solid active buyers…bidding up the purchase price to where your competitors are listed to begin with…the key here is “the real buyer pool” vs. the “lookers” Yes this is scary… but statistically in a buyer’s market it works…shorter market time…helping you to be available to take advantage of this buyer’s market yourself to make your next equitable real estate purchase… Buyers be prepared… Figure out what is important to you in a new home…this is what I suggest… Make a list: · Must have, · Like to have · Absolutely must not have… There is new software that enables my clients…buyers and sellers, to take this list and apply it to specific homes currently on the market in Westport and the surrounding communities making our search more fun and interactive. No wasting my client’s precious time…a great communication tool between us. All tools for insight to help us with the new wave of buyers and sellers… Buyers have been looking for a while now…such pent up demand with more cash for purchases…a lot do not need to go to the banks for a mortgage and use that as another tool for better negotiation…so a lot of activity out there… They are given bonuses in the first three months of the year…so the time to sell is now…grab the buyers out there now…price yourself accordingly with a value price…and move on… Some more thoughts…there is a lot of inventory to choose from…mortgage…the rates are still very low and there are some new great jumbo programs…two more reasons to buy… With each new week comes a different wave of interest and amount of sales and rentals in real estate today…keep on top of the market…keep positive…people always have to move…learn their motivation…price your listings correctly and enjoy the rewards of a great profession…helping others and supporting your community you love…we are so lucky…

Julia Broder, Luxe Properties

The Riverside Realty Group 203-247-7500,

www.juliabroder.com

Mortgage rates decreased in the latest Mortgage Market Survey released by the Mortgage Bankers Association (MBA). Lower mortgage rates increased mortgage applications for home purchases and mortgage refinancing.

The average contract mortgage rate for 30 year mortgages is back at 5.00 percent for the week ending January 15, 2010, down from the prior week's average mortgage rate of 5.13 percent. Mortgage discount points decreased from 1.17 points to 1.05 points.

The average contract mortgage rate for 15 year mortgages decreased to 4.33 percent for the week ending January 15, 2010, down from the previous week's average mortgage rate of 4.45 percent. Mortgage points increased to 1.19 points from 1.04 points.

The average contract mortgage interest rate for one year adjustable mortgages decreased to 6.72 percent, down from last week's average adjustable mortgage rate of 6.83 percent. Mortgage discount points remained unchanged at 0.31 points.

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MonitorBankRates.com has just released a free jumbo mortgage rates widget that lists national average mortgage rates.

The jumbo mortgage rate widget is a great tool for real estate agent websites, financial websites or any other website that would like to keep their readers up to date with current mortgage rates.

In addition to the new jumbo mortgage rate widget, MonitorBankRates.com also offers a free conforming mortgage widget that lists mortgage rates nationally and state mortgage widgets that list average mortgage rates by state.

Mortgage rates on all widgets are updated daily.

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Staples High School Boys Soccer advances to 2nd round of State Tournament

The final scoreboard said it all. Staples Boys Soccer successfully advanced through the first round of the State LL (extra large school) Tournament, besting West Hartford's Conard High School, 4-1.

The team started the game still pumped up from the adrenaline rush of capturing their 26^th Fairfield County Interscholastic Conference (FCIAC) title, last week. Fourteen minutes into play, they scored their first goal and settled into their game, never relinquishing the lead.

Just before the end of the half, Staples converted a penalty kick for a 3-0 lead

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The large crowd enjoyed the glorious fall weather as they came out to support the team. Fans will again have the opportunity to "fill the hill", on Thursday, when Staples meets Newtown, in the round of sixteen.

Copyright © 2009 Marilyn Katz, WestportCTProperties, All Rights Reserved... Westport, CT - Staples Advances to 2nd Round of State Tournament

Westport, CT: Code Red Emergency Notification System in Action

It was just a year ago that Westport First Selectman, Gordon Joseloff, announced that the Town of Westport had contracted with Emergency Communications Network, Inc. for its Code Red emergency notification system. The system sends out emergency notifications based on geographic locations. Home addresses are used to select which phones receive alerts.

Although the town maintains a database of residential and business numbers, Westport residents were encouraged to register their home phones. They could also register their cell phone numbers, if they wanted mobile notification.

At the time, my husband registered our phones and I never gave the system another thought. So, I was quite surprised, Friday afternoon, when my cell phone displayed a call from "Westport Code Red." It was even more startling when the call started out "a missing person alert.." Who was missing? Why was I getting the call?

The message continued...a 74 year old woman, suffering from dementia, wandered away from her home. Some details were provided of her description and where she was last scene.

Shortly after relatives notified the police, the town wide Code Red alert was issued. A resident who received the call noticed someone matching the woman's description, walking along the road. The police found her, a few minutes later, and brought her home.

A second message was issued, announcing the prompt and positive results.

The system was also effectively used a week ago, when shoreline residents were warned of possible flooding and urged to move their vehicles. The warning helped avert potential damage to their cars.

Copyright © 2009 Marilyn Katz, WestportCTProperties, All Rights Reserved... Westport, CT: Code Red Emergency Notification System in Action

Westport Home Sales Update for September 30, 2009

Through the first nine months of the year, 174 Single Family Homes have been sold in Westport. This is down from the 218 Homes that sold in this period last year. It also continues a two year slide - down 47% from the 329 Homes that sold in the first nine months of 2007.

The Average Selling Price is $1,373,394. This is off 21% from last years $1,732,734. This reflects the slowness had the higher price segments in the market.

There are 342 Homes the market today. They range in price from $387,950 for a 3 Bedroom Ranch to $30,000,000 for a Georgian Colonial with 6 Bedrooms sitting on 4 acres on Westport's shoreline.

To see all the homes for sale, please visit www.tetreau.com.

This information is obtained from the Greater Fairfield County MLS