Don Fabrizio-Garcia - Connecticut Real Estate & Appraisals

It happened again today...sellers who didn't want their homes shown.

The market is slow. Many homes are not selling. I have real live, pre-approved buyers who need to buy soon. They are first time buyers looking in Danbury or New Fairfield, Connecticut. Today was the third time we went out to look at potential homes. We already have two possibilities, though one of them went under deposit with any other buyer the other day.

So, we keep looking...

This morning I scheduled appointments to view four homes.

Home #1: "Yes, you can show my home. Thank you." I love that. Short and sweet.

Home #2: The number to call is the seller's cell phone. We got disconnected. Twice. The third time, I just yelled that I was showing his home at 2pm. I think he heard me. I hope he heard me. Note to sellers: if agents are calling your cell phone to schedule appointments, and you're in a bad service area, just let the call go to voice mail...

Home #3: "Well, can you show my home later? I need time to clean up." Three hours isn't enough notice to clean up? How dirty is your house? Apparently, she only had time to clean the main level. We walked in, and the home was spotless. Then we walked upstairs, and it was so dirty and full of cat hair everywhere, that we all began coughing and had to leave.

Home #4: I left a voice mail message. The showing instructions said that was OK to do. We get there, and there are three locks on the door - the door knob and two dead bolts. There was only one key. It unlocked the doorknob. It unlocked the first deadbolt. It did NOT unlock the second deadbolt. We're locked out. I called the listing agent and she informed me that I had the wrong key. Um, this is the key you put in the lock box, right?

Home #1 was a pleasure to show. Thank you Mr. and Mrs. Seller. Unfortunately, it wasn't the right home for my buyers.
Home #2: I'm not positive the sellers knew we were going. I assume he heard me. Again, it wasn't the right home for my buyers.
Home #3: I understand you needed to clean your home. You had three hours. Next time, please vacuum the cat hair. You may also want to replace the missing closet doors on the upper level. There was too much cat hair to even determine whether this may have been the right home for my buyers.
Home #4: We'll never know. This could have been the one. I've left additional messages for both the listing agent and the seller. Neither has bothered to call me back. I guess they really don't want to sell.

Not to worry. I'll find the right home for my buyers. It's just a shame that with some of these homes, these sellers lost out on a possible sale.

Ridgefield, Connecticut Real Estate Update
July, 2008

Closed home sales in Ridgefield, Connecticut:

There were 39 home sales closed in Ridgefield, CT.
List Prices ranged from $359,900 - $1,625,000.
Closed Sales Prices ranged from $353,000 - $1,575,000.

On average, these homes sold for 95.6% of their final list price.

Marketing time ranged from 25 - 1,106 days on market. The average was 194 days on market.

This compares with 36 closed sales in July, 2007, with an average sales price of $1,045,437 and a median sales price of $845,000.

Currently available homes for sale in Ridgefield, Connecticut:

Currently, there are 227 homes for sale in Ridgefield, CT.
List Prices range from $229,900 for a small one-bedroom ranch to $10,000,000 for a 16,000 square foot contemporary showpiece.

Ridgefield, Connecticut is a wonderful New England town bordering New York's Westchester County. It is popular with those commuting to lower Fairfield County, Westchester County and New York City.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

Bethel, Connecticut Real Estate Update
July, 2008

Closed home sales in Bethel, Connecticut:

There were 12 home sales closed in Bethel, CT.
List Prices ranged from $334,900 - $1,199,000.
Closed Sales Prices ranged from $320,000 - $1,100,000.

On average, these homes sold for 95.5% of their final list price.

Marketing time ranged from 30 - 761 days on market. The average was 236 days on market.

This compares with 20 closed sales in July, 2007, with an average sales price of $396,915 and a median sales price of $395,000.

Currently available homes for sale in Bethel, Connecticut:

Currently, there are 115 homes for sale in Bethel, CT.
List Prices range from $149,900 for a bank-owned fixer property to $1,150,000 for a newer colonial.

Bethel, Connecticut is a quaint New England town with a wonderful pedestrian-friendly downtown area with plenty of shops. Bethel borders Danbury to the west, Brookfield to the north and Redding to the south.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

New Milford, Connecticut Real Estate Update
July, 2008

Closed home sales in New Milford, Connecticut:

Single Family Homes:
There were 16 single family home sales closed in New Milford, CT.
List Prices ranged from $209,000 - $847,500.
Closed Sales Prices ranged from $190,000 - $820,000.

The average closed real estate sales price for single family homes in New Milford was $356,062.
The median closed sales price was $332,500.
On average, these homes sold for 94.4% of their final list price.
Days on Market ranged from 37 - 352 days, with the average being 161 days of market time.

This compares to 26 single family homes closed in July, 2007, with an average closed sales price of $422,165 and a median closed sales price of $417,450.

Condos:
There were 6 condominium sales closed in New Milford, CT.

The average closed real estate sales price for condos in New Milford was $240,351.
The median closed sales price was $174,000.
On average, these homes sold for 94.1% of their list price.

This compares to 6 condos closed in July, 2007, with an average closed sales price of $181,379 and a median closed sales price of $189,187.

Currently available homes for sale in New Milford, Connecticut:

Single Family Homes:
Currently, there are 293 single family homes for sale in New Milford, CT.
List Prices range from $150,000 for an antique fixer to $1,895,000 for a Candlewood Lake waterfront home.

Condos:
Currently, there are 79 condos available for sale in New Milford, CT.
List prices range from $77,900 for a one-bedroom unit to $539,900 for a detached unit in an active-adult community.

New Milford, Connecticut, is the southernmost town in Litchfield County and is known as The Gateway to Litchfield County. The town borders the northeastern shores of Candlewood Lake. Several lake communities surround its Candlewood Lake shores, and typically offer a private beach for residents, boat docks and other amenities. New Milford enjoys a population of about 28,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

Brookfield, Connecticut Real Estate Update
July, 2008

Closed home sales in Brookfield, Connecticut:

Single Family Homes:
There were 19 single family home sales closed in Brookfield, CT.
List Prices ranged from $197,900 - $1,475,000.
Closed Sales Prices ranged from $205,000 - $1,300,000.

The average closed real estate sales price for single family homes in Brookfield was $496,394.
The median closed sales price was $425,000.
On average, these homes sold for 93.8% of their final list price.
Days on Market ranged from 41 - 911 days, with the average being 218 days of market time.

This compares to 21 closed sales in July, 2007, with an average sales price of $503,257 and a median closed sales price of $455,000.

Condos:
There were 2 condominium sales closed in Brookfield, CT.
The average sales price was $330,000
The median sales price was $330,000
These units sold for 93.8% of the most recent list price.


This compares to 6 closed sales in July, 2007 with an average sales price of $268,166 and a median sales price of $255,500.

Currently available homes for sale in Brookfield, Connecticut:

Single Family Homes:
Currently, there are 177 single family homes for sale in Brookfield, CT.
List Prices range from $259,907 for a fixer property to $1,900,000 for a Candlewood Lake waterfront home.

Condos:
Currently, there are 35 condos for sale in Brookfield, CT. List prices range from $199,900 for a one bedroom unit to $639,900 for a newer detached 3-bedroom unit.




Brookfield, Connecticut, is located between Candlewood Lake and Lake Lillinonah, creating a multitude of water recreation opportunities in the town. Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities. Brookfield enjoys a population of about 16,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

Danbury, Connecticut Real Estate Update
July, 2008

Closed home sales in Danbury, Connecticut:

Single Family Homes:
There were 40 single family home sales closed in Danbury, CT.
List Prices ranged from $124,900 - $1,200,900.
Closed Sales Prices ranged from $124,900 - $1,100,000.

The average closed real estate sales price for single family homes in Danbury was $401,833.
The median closed real estate sales price was $348,950.
On average, these homes sold for 95.4% of their most recent list price.
Days on Market ranged from 4 - 657 days, with the average being 156 days of market time.

This compares with 36 closed sales in July, 2007, with an average closed sales price of $384,275 and a median closed sales price of $356,450.

Condos:
There were 29 condominium sales closed in Danbury, CT.
The average closed real estate sales price for condos in Danbury was $282,844.
The median closed sales price was $275,000.
On average, these homes sold for 95.5% of their most recent list price.

This compares with 44 closed sales in July, 2007, with an average closed sales price of $266,006 and a median closed sales price of $242,797.



Currently available homes for sale in Danbury, Connecticut:

Single Family Homes:
Currently, there are 327 single family homes for sale in Danbury, CT.
List Prices range from $79,900 for a summer-only as-is cottage in a lake community to $3,499,000 for a renovated 1920/s colonial on nearly 9 acres.

Condos:
Currently, there are 246 condos available for sale in Danbury, CT.
List prices range from $76,000 - $839,000.

Danbury, Connecticut, a former military depot during the American Revolution, is a diverse community of about 78,000 residents that borders New York State to the west and the southern shores of Candlewood Lake. Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities. Danbury enjoys a convenient commute location to lower Fairfield County and Westchester County, New York. Danbury is situated just about an hour by car to Hartford, Connecticut and New York City.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate

Sherman, Connecticut Real Estate Update
July, 2008

Closed home sales in Sherman, Connecticut:

There was 1 home sale closed in Sherman, CT.
List Price was $350,000.
Closed Sales Price was $405,000.

This was a short sale property that was priced low and received multiple offers.

This compares with 1 closed sale in Junly 2007, which also closed for $405,000 - and happened to be on the same street as the home that sold this month. Ironic!

Currently available homes for sale in Sherman, Connecticut:

Currently, there are 71 homes for sale in Sherman, CT.
List Prices range from $275,000 for a small ranch with beach rights to $3,300,000 for an expansive estate on more than 24 acres.

Sherman, Connecticut is a small semi-rural community of about 4,000 residents that borders New York State to the west, New Fairfield to the south and hugs the northwestern shores of Candlewood Lake. Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities. The northernmost town in Fairfield County, Sherman is often cited as being the fastest growing town in Connecticut per capita, yet still retains its rural roots and charm.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

New Fairfield, Connecticut Real Estate Update
July, 2008

Closed home sales in New Fairfield, Connecticut:

There were 7 home sales closed in New Fairfield, CT.
List Prices ranged from $199,000 - $2,249,000.
Closed Sales Prices ranged from $112,000 - $2,100,000.

The average closed real estate sales price for New Fairfield was $575,678.
The median closed real estate sales price for New Fairfield was $370.750.
On average, these homes sold for 92.5% of their final list price.

Days on Market ranged from 46 - 684 days, with the average being 240 days of market time.

This compares with 13 closed sales in July, 2007, with an average sales price of $500,500 and a median sales price of $405,000.


Currently available homes for sale in New Fairfield, Connecticut:

Currently, there are 128 homes for sale in New Fairfield, CT.
List Prices range from $132,500 for a small, bank-owned ranch to $21,000,000 for a Victorian-style home on Candlewood Lake.

New Fairfield, Connecticut is a small community of about 14,000 residents that borders New York State to the west and Candlewood Lake to the east. Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities. New Fairfield enjoys a convenient commute location to lower Fairfield County and Westchester County, New York. New Fairfield is situated just over an hour by car to Hartford, Connecticut and New York City.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate

Last night, I was meeting with someone who is considering selling their home.

One of the first questions I was asked was, "Should I replace the carpets or just offer a credit to the buyer?"

This is actually a very common question. And my answer is always the same:
Replace the carpet!
While you're at it, make any necessary repairs.
Do everything you need to to bring your home into model home condition.

There is a lot of inventory on the market right now. Buyers have a lot of homes to choose from. You want them to choose yours. How do you do that?
Well, of course, you have to price it right.
You also need to make the home easy to show.
And, of course, the home needs to be in perfect, model home showing condition. Always!

Make any needed repairs up front. The carpeting can probably be replaced now for about $2,000. However, a buyer is going to look at the stained carpets and demand a $5,000 credit. Or, worse yet, they'll lower their offer price to compensate for the carpeting, plus they'll ask for a credit.

Surely, as a seller, you stand to make more money by replacing those carpets up front, before the home hits the market.

If you can't afford to replace those carpets, ask the carpet installer if you can pay them at closing.
Otherwise, we'll have to price your home lower to accommodate the deficiencies. And, unfortunately, the offers submitted by buyers may be even lower...

Don Fabrizio-Garcia, REALTOR
Real Estate Sales & Appraisals

I heat my home with oil - I have a hydro-air forced warm air heating system with three zones.
When I built my home three years ago, has I suspected the price of oil would more than double in three years, I might have considered different heating options.

Back in 2005 when I built the home, I contracted for oil for about $2.05 per gallon.
This past year, I've been paying $3.59 per gallon.
Now, I'm hearing quotes of $4.70 - $5.19 per gallon. Ouch.

Just by conservation - and the fact that now all of our kids are in school during the day - we've reduced our oil consumption from 1,500 gallons per year to 1,100 gallons per year.
Those 1,100 gallons, at $5.19 per gallon, will cost me $5,500. That's just too much money.

So, we've been researching various options on how to heat our home.

We looked into installing a new geothermal heating and cooling system. I've seen these in action, and they work great. Simplistically, geothermal systems use ground water to heat and cool your home. There's no oil, no gas...just the electricity need to run the geothermal pump. The cost savings can be amazing.
But, the installation costs are prohibitive: To retrofit my home will cost $40,000 - $60,000. Even with these high oil prices, that's not a great investment. Apparently, these systems are much more cost-effective if installed during the construction of the home. Something to keep in mind for the future...

Of course, we also took this time to look into installing solar panels. They may not provide my heat, but they could reduce my huge electricity bill. But, again, the installation costs are prohibitive.

We considered replacing our gas (propane) fireplace with one that might actually put out some heat. But, our chimney would have to be modified to fit a new unit that would probably only heat one or two rooms. While this would obviously be cheaper than a geothermal system or solar panels, it still wouldn't be enough of a return on our investment to make it worthwhile.

So we moved on to wood stoves. I like these. Radiant heat drifting through my home. The look and smell of a real fire blazing. The sound of that fire crackling. Years and years of free wood available on my own property. Stove prices are fairly reasonable, with some great new modern design stoves, but installation will double the cost. And, will I ever really cut and split that wood? Will I ever carry those dead trees up the hill?
Unfortunately, we know our lifestyle. We'll end up buying pre-split cord wood and storing it in the side yard. There go some savings. And, realistically, when there is 2 feet of snow outside, am I going to go out to get some wood? I guess I could send the kids... I still do like this option, but there is a lot of work involved. Do I have the time? That is a definite consideration.

Next we looked at pellet stoves. I wasn't too keen on this idea at first. So I spent some time (OK, a lot of time) visiting stores and researching online. Most pellet stoves are not pretty. But, with a little searching, some nice looking units are available, and they seem to have great reliability reviews. True, I will have to store pellets in my garage, and the price of pellets has gone up lately. But it is still much more cost-effective than oil, and fairly comparable to buying cord wood instead of cutting my own. I found a few stoves that should heat my entire main level, and probably keep the upstairs in the low- to mid-60's at the same time. Not too shabby. My oil heat can become the supplemental system, and what we may need to use at night.

There is a great fuel cost comparison calculator that can aid in your decision as to whether your savings will be worthwhile.

I think we're going to go with the pellet stove. Of course, they are scarce right now and not cheap. But, I think I may earn my money back in 2-3 years. If oil prices drop and it takes longer, at least I know that I'm no longer completely dependent on foreign oil. And, I'll have an additional fireplace in my home.

I will have two heat sources in my house - I will be able to choose which one is used as the primary heat source at any given time, based on current fuel costs.

How cool is that?