fairfield county ct — Bondi Realty Group

Local Real Estate News sales report for 2015

Local Real Estate News forecast for 2015

Happy New Year! 2014 was a very good year for our local real estate market.

We are looking at another good year ahead if our economy stays on track! I expect more first time home buyers will be searching for their new home. Many sellers who have been waiting for values to increase may be ready to put their house on the market very soon. This will create a nice balance which will translate into a good market for all.

Low mortgage rates are currently in effect for 2015, with many small banks offering fantastic loan programs. Smart buyers should take advantage of this to purchase their new homes.

Here are the latest statistics from Consolidated Multiple Listing system.

As we enter 2015, Norwalk’s housing market activity is holding steady. The inventory is similar compared to last year at this time. We currently have 248 single family homes and 118 condos active in the market. As always, the nicest listings that are priced correctly sell the fastest and for the highest price.

Last quarter numbers (October to December) show 149 single family and 84 condos sold. This is wonderful news and hopefully it will continue.

Westport’s active housing inventory is also holding steady. Currently, active listings are 232 single family and 5 Condos for sale. Westport’s last quarter numbers are showing 97 single family and 8 condos sold.

Wilton single family and condo sales are similar numbers last year at this time. The current active inventory is holding tight at 99 single family and 9 condos. Last quarter numbers are showing 49 Single family homes and 3 condos sold.

This is great news for home sellers & buyers. Sales are moving in the right direction and the spring market should be very strong this year. Prices are holding steady with no huge increases on the horizon. We think the winter market will be strong this year if the weather cooperates as there are still a few deals to be had. Contact us today for all of your real estate needs! We are Norwalk’s number 1 real estate company!!

Betty Bondi
Bondi Realty Group LLC
203-899-9990

The Quest for the perfect Mid Century Modern home

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This is the story about our client and their search for the perfect home

Two and a half years later, working within their budget, a very small amount of showings, one outbid offer and a closing from 6700 miles away my clients have found and purchased their perfect house. The style of the house they were looking for is one of the rarest forms in Fairfield County. It’s called Mid-Century modern architecture. These homes are usually situated on great pieces of property and are small in size. This unfortunately gives a perfect opportunity for someone to knock the house down and build a much larger home in its place.

Mid- Century modern architecture is sometimes called “California Contemporary and usually defined as buildings constructed between the 1940’s through the late 60’s.Typically the features include clean lines, open floor plans, walls of glass and the feeling of living within nature. These innovative architects with their simplistic styles were considered ahead of their time.

It all started with a phone call. The person on the other line wanted to know how much I knew about Mid- Century modern architecture. I told him as a Mid-Century modern enthusiast, I have a great respect for the architects like the Harvard Five who fought to be accepted in a world of traditional Colonial styles. And this is how the journey began.

We would attend the New Canaan Historical Society’s modern house tour. We would trade ideas back and forth about how the homes were designed and how some owners and contractors would change the pure style of the home to reflect a more traditional colonial décor and style. Those changes would always upset my clients.

I would always keep them updated on any properties that looked promising. Our journey took us through several different towns like Stamford, Wilton, New Canaan, old Greenwich and Weston. We bid on the famous Michael Crichton house, designed by Lanasberg and built by Hobbs. This house was a very pure example of what Mid –Century modern architecture should look like. Unfortunately we were outbid and the price went over budget. The search continued into the next year with more showings. But we just couldn’t find that pure untouched house in the right location. Some agents would have given up, but I loved going to look at all the homes, even if my clients didn’t want to bid. Fast track to January 21^st 2014 and there it was. I brought my clients to the open house of a pure, perfectly sited Mid-Century modern Thomas Flemming designed house in Weston. We bid over asking price on it that day, only to be out bid again. But we were not going to lose this one and after going back and forth and winning over the sellers, the closing took place on April 11^th while my clients were away. I finally had the pleasure of handing Roger and Betty the key to their new home on April 29, 2014.

So the journey doesn’t end here. I have made two great friends and I will someday get that call again and someone on the other line will say to me “What do you know about Mid-Century modern architecture”?

My advice is to always work with a Realtor who not only knows the area but also knows a little about the architectural styles you are looking for. In the end you too will find the perfect house.

Peter Bondi
Bondi Realty Group LLC
203-899-9990

Spring Market Preview 2014

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Spring Market Preview 2014

The winter weather has been brutal thisyear in so many ways. It has resulted in a negative effect on the local real estate market. The marketplace was busy into the New Year, but too many snow storms and frigid temperatures have cooled the housing market in our area and all along the northeast. Buyers are waiting for the weather to improve and sellers are holding down the fort hoping the spring market brings forth more activity.

Buyers should use this slow time to get all of their financing in order. I cannot stress enough, how important it is to have this done ahead of time. You may be very disappointed if your homework is not complete. Mortgage brokers have time to work with you right now and can give you a loan approval based on your financial criteria. All lenders are not equal, so shop around to find one that has a good track record with successful closings. It looks as though most of the buyers are searching for that perfecthome online although we have met buyers out there winging it on their own at open houses. This is a good way to start, but talking with a professional experienced Realtor is the way to go. They will educate and inform you when you are ready to purchase a home. You will be more successful working with an agent who understands your target area, wish list and budget.

Sellers are holding on, waiting for the weather to improve. This slowdown has affected housing prices and they are holding steady at this point. I don’tthink there will be much if any increase in property values this year. It is expected that inventory will increase which will result in a having more homes to choose from and increasing competition among listings. Sellers should use this time to paint, de clutter and make improvements and repairs so their home will shine far and above the other listings. Don’t forget to spring clean both inside and outside. This has a huge impact on how your home shows. One of the biggest trends we are seeing right now, is sellers overpricing their home. For example, if the appraised value comes in around $500,000, you shouldn’t mark it up to the point where the end result will be very little to no showing appointments. Buyers will pay market value for your home, but not more than that. There is so much information on the internet these days; they already have a pretty good idea of what your home is worth before they come through the door. Keep in mind the bank will consider recent sales in your neighborhood when completing an appraisal for anyone applying for a mortgage.

We are currently in the first quarter of the year and will have the closing sales numbers at the end of the month. Follow our suggestions and both buyers and sellers will be successful and happy with their housing transaction this spring.

Betty Bondi
Bondi Realty Group LLC
203-899-9990

Five reasons your home isn’t selling

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Five reasons your home isn’t selling – Fairfield County CT

#1Price

There is a perfect price for every home. Sometimes it takes adjustments to come up with the right one. The formula is not magic. The best way to price a home is to use sold comparable in your neighborhood. It doesn’t matter that your neighbor’s home is on the market and they are asking more than it is worth. No one will come to see it and it becomes a dead listing. If your home or property is exceptional, then we recommend hiring a professional appraiser to determine its value.

#2 Your Real Estate agent

Hire a professional agent with experience in all types of economic markets. There are always difficulties with transactions in every market place. When times are good it seems like homes are easy to sell. This is not always the case. Housing is selling quite well right now, but that doesn’t mean it is easy. There is very little good inventory. Buyers are willing to pay a premium for a home that is pristine and totally remodeled. They are also buying homes that are well kept and in the best neighborhood and school districts. The homes that are in need of severe remodeling and are run down or have strange floor plans are more difficult to sell. That’s where an experienced agent comes into play. They have the knowledge and expertise to get the highest realistic price for your home. If your property is unusual find an agent who specializes or has experience in selling this type of home. Make sure your agent comes with experience. When hiring an agent, ask to see if they are familiar with your area or if they have personal references from happy clients. If not, interview another agent. This could make all the difference in whether your transaction goes smooth or not.

#3 Condition

Prepare your home to make it saleable and look the best it can. Clean, clean and clean again. Make sure it sparkles and smells fresh. De clutter is your new favorite word. Get rid of or store anything and everything that you don’t need. Less is more when it comes to making your home look spacious and roomy. Paint – This is the easiest, least expensive way to make a big impact. Fresh paint goes a long way and don’t just paint the walls white. Buyers love subtle color in warm shades of beige, gray and yellow. I call it Pottery Barn chic. If you have carpeting that is dated, get rid of it. Today’s buyers want hardwood floors and will pay the price to have them. How old is your boiler? Is your oil tank in good condition? What kind of condition is your roof? Is the electric up to code? Buyer’s don’t want or have the means to replace the big ticket items when purchasing a home. What is the condition of your kitchen and baths? If they are less than perfect, then make sure they are clean and painted.

#4 Landscaping

Curb appeal is super important. What does your property look like? Do you have a manicured lawn and planting beds? If your grounds are unkempt, then buyers figure the rest of your home is too. Get rid of those tired old over grown plantings that cover the foundation and windows of your home. Buy some fresh plants to present a better picture. Clean up any debris around the house. No one likes to see a messy yard, including your neighbors.

#5 Exterior

Do you have peeling paint or is mold on your home exterior? Wash the windows, power wash the house, fix any rotted wood, paint or touch up where needed. When the outside looks good, buyers know the inside will match.

It’s a proven fact that all this advice goes a long way. Following these rules will make the difference of whether your house sells for the highest and best price or not. We have the experience and track record of selling homes priced at market value which are in good condition and they sell in one day!

Betty Bondi
Bondi Realty Group LLC
203-899-9990