home sales norwalk

Fairfield County Real Estate News Update 2012

Real Estate News Update 2012

 Happy New Year! What does the local real estate market hold for us this year?

Does anyone really know? With first time buyers’ dipping their toes in the water, my guess is that it should be an active year in real estate. The rental market is still strong, but rents are increasing at such a pace that smart qualified buyers should be choosing to purchase a home instead of rent.

 Let’s take a look at what is really happening out there in our local real estate market. I believe our current local real estate market has faired better then the rest of the country. We haven’t seen as many foreclosures as the rest of the country and our job market have shown signs of picking up. Here are a few statistics from Consolidated Multiple Listing system.

 As we enter 2012 I can tell you that Norwalk’s housing market is showing signs of stability but the banks are still being cautious and reserved with their lending.  In January of 2011 there were 327 single family homes on the market and 194 condominiums for sale.  January of 2012 shows single family inventory at 320 and condominium inventory at 198. That is a slight decline in single family numbers. Condo numbers show a slight increase in the inventory.

 Norwalk home sales are down from last year. 505 single family homes and 227 condos sold in 2010. Sales from 2011 are showing 440 single family homes and 192 condos sold for the year. This could be attributed to more people renting last year than purchasing.

 Norwalk’s last quarter is showing the following numbers: 101 Single family homes sold and 44 condos. These numbers are very similar to the June- October quarter.

 Westport’s housing numbers are also down. Current inventory shows 229 single family and 13 condos for sale this year.  They are also reporting a decrease of home sales for 2011. 350 single family homes sold in 2010. 2011 is reporting sales of 344 single family homes, but condo sales are up from 23 sold in 2010 to 35 sold in 2011.

 Wilton single family sales numbers are up from last year! Current inventory shows 132 single family and 9 condos for sale. 165 Single family homes and 25 condos sold here in 2010. Sales for 2011 are showing 177 Single family homes sold along with 17 condos.

Last quarters numbers are as follows: Single family homes – 35, but no condo sales last quarter.

 As 2011 progressed the housing prices continued to slump. Our prices have declined 25 to 30% from the high point of the housing market. Mortgage rates and home prices are at an all time low and there are fantastic deals to be had. Short sales are still coming on the market and if you have some patience you can score a great buy!

 Betty Bondi
Bondi Realty Group LLC
203-899-9990

home sales norwalk

The Holidays are a perfect time to sell your home!

The Holidays are a perfect time to sell your home!

With all of the chaos that happens between now and New Year’s, it seems it would be crazy to put a house up for sale during the winter. But smart sellers know it may just be the perfect time to put up the “for sale” sign. We are actually seeing momentum building for first time home buyers. The phone is ringing and hopefully it is a sign that the housing industry is moving forward. Many people often make the mistake of wanting to buy or sell when everyone else is buying and selling. Don’t follow the status quo, real estate deals happen at anytime through out the year.

This time of the year brings back wonderful memories of purchasing our own home in West Norwalk right before Christmas. We negotiated a great deal, closed on the house and moved our family in on December 15th. We immediately decorated, hung up the stockings, put up a tree and enjoyed a lovely Christmas in our new home.

I always recommend to our clients that they don’t take their homes off the market when winter rolls around. It’s my experience, both personal and professional, that buyers who are looking at homes during this time of year are very serious and I have watched homes sell right before the holidays. So when you truly have motivated buyers and sellers you shouldn’t close your doors just before Thanksgiving and open them again until mid January. Buyers that are willing to give of their time and perform the due diligence required during this period are really serious about closing that deal.

Make it as easy as possible to have a showing. Even if you have to make sure the property is totally accessible by removing snow. People will want to still walk around and inspect the perimeter of your house. Don’t decline showings and don’t put time limits on them. It’s a numbers game. The more people you get in the door, the better chance of selling your home. An informed seller knows the inventory is at its lowest right now. Many sellers are getting nervous and either renting their homes or just taking them off the market. Buyers want and are looking for  fresh inventory.

We are finding that families often come back to where they grew up during the holiday season. And if they’re thinking of making a move back, now is the time they will be looking and having that all important real estate conversation over holiday dinner with their family.

All of us at Bondi Realty want to wish you a wonderful holiday season, filled with happiness, good health and prosperity!

Betty Bondi
Bondi Realty Group LLC

203-899-9990

home sales norwalk

Bondi Realty Group LLC Local News – Third Quarter 2011

Local Real Estate Market News – Third Quarter

Here are a few statistics from Consolidated Multiple Listing system.

As of October 2011 Norwalk is showing a decline in inventory compared to last quarter. Currently there are 472 single family homes and 269 condominiums on the market. Those inventory numbers are down from last quarter’s number of 490 single family homes and 283 condos. In the first quarter of 2011, 83 single family and 39 condos sold. Home sales were up for the second quarter 125 single family homes and 55 condominiums sold. The third quarter numbers are in. Single family homes are recording a dip in sales with 106 homes sold. Condominiums sales are down too with 46 units sold.

Inventory is also down in Westport as there are currently 336 single family homes and 28 condos on the market at this time. The second quarter showed 379 single family homes and 30 condominiums on the market. In the first quarter of 2011, 49 single family homes and 4 condos have sold. Sales were up for the second quarter at 118 single family homes and 11 condominiums sold. The third quarter numbers are reflecting a decline in sales showing that 104 Single family homes and 8 condos sold.

Wilton is currently showing a decrease of inventory with 197 single family homes and 8 condos currently for sale. The second quarter inventory numbers recorded 227 single family homes and 16 condos for sale. In the first quarter of 2011, 29 single family homes and 5 condos have sold. Sales were up for the second quarter at 43 single family homes and condo sales remain flat at 5. Third quarter sales numbers are up and showing that 54 single family homes and 6 condos sold.

It appears that home sales still have a long way to go, but we have fared so much better than other parts of the country. Mortgage rates are at an all time low and banks are starting to lend again. Hopefully at some point single family and condo buyers will feel more secure leading to more sales and property price increases in the near future. Call us today for all of your real estate needs.

Betty Bondi

Owner/ Broker

www.BondiRealtyGroup.com

203-899-9990

home sales norwalk

Norwalk CT Property Sales Transfers June 16 – 30

16 Dry Hill road
David Shulman & Petra Schwarz to Daniel & Samantha Costanza, $435,000

2 Creeping Hemlock Drive
GMG Macintyre Trust to Margaret Donnelly, $270,000

80 County Street Unit 3F
Federal Home Loan Mtg Corp to Neiyuan Yang & Ru Chen, $174,708

66 Fawn Ridge Lane
Mary Fitch to Peter & Grace Barbieri, $385,000

25 Sention Avenue
Sofia & Parhena Sefendis to George Seferidis & Miriam Ri, $325,000

8 Fillow Street
JP Morgan Chase Bank NA to Adam Wadoloski, $210,000

7 Cloverly Circle
Estate of Beatrice Druks to Pawel Zietek, $400,000

41 Wolfpit Avenue Unit 4D
Timothy Lyons to Marek & Katarina Brila, $53,000

71 Aiken Street Unit D11
Stefanie Kasven to Julia Paridis, $170,000

7 Trolley Place
Randall Moore to Matthew & Alyson Smith, $525,000

167 North Taylor Avenue
Thomas & Maria Daniel to Monica Fitzgerald, $354,000

111 South Main Street
111 South Main Street Assoc LLC to Donavan Stephenson, $975,000

222 Wolfpit Avenue
Estate of Margaret Donnelly to Rocco Romeo, $603,000

220 Wolfpit Avenue
Estate of Margaret Donnely to Lauren Romeo, $200,000

10 Eversley Avenue
Prudential Relocation to John & Camille Vandermeulen, $577,500

4 Spar Road
Kelly & Erika Wright to Pamela & Malcolm Speed, $720,000

48 Winfield Street
Carol Silva to Warren & Domonique Newman, $282,000

54 Shorefront Park
Jonathan Ziff to Linda Ferus, $1,750,000

115 Fillow Street Unit 17
Becca Nell to Christopher deGuzman, $222,500

4 Arbor Court
Dolores Dube to Carmen Mirosanu & Cristian Georgescu, $295,000

8 Wilson Avenue
Elizabeth Butterworth to Charles Kwak, $1,750,000

29 Beechwood Road
Deutsche Bank National Trust to Muhammed & Fahmidan Khan, $250,000

65-69 East Avenue
65-69 East Avenue LLC to ECP East Avenue LLC, $1,878,673

550 Connecticut Avenue
Richard Passero to Ervin & Olga Agababaev, $300,000

137 Washington Street Unit 303
Patrick Hughes to Gregory Gesswein, $237,000

15 Scribner Avenue
Rosemary Nemeth to Brenin & Nicole White, 375,000

168 Rowayton Avenue
Miner Realty Ltd Lib Corp to James Falsey, $1,050,000

39 Barbara Drive
Marc Schoenen & Veronica Oropeza to Amelios & Faith Kourpouanidis, $400,000

8 Evergreen Terrace
Timothy & Sarah Frank to so Yee Chin & Christoph Hansis, $700,000

21 Prospect Street Unit B201
Brent & Rose Mettlen to Julie Thorne, $265,000

3 Honeysuckle Drive
Alfredo Jr & Joseph Senese to Gregory Hesen & Beata Hebda, $353,000

39 Thistle road
Charles & Carey Strahley to Charles & Lara Cardoza, $550,000

1 Douglas Drive
Anthony Manousos to Anthony Manousos Jr, $500,000

41 Wolfpit Avenue Unit 5A
Claire & Richard Morrissette to Qian Zhan, $53,000

47 Prospect Avenue Unit 47P
Assets Recovery Center Inv LLC to Virginia Palomino, $94,000

3 Browne Place
Christopher & Heidi Keelips to Daniel Hafner, $2,883,000

520 West Avenue & 26 Lynes Place
Frost Building LLC to MCP SP West Avenue LLC, $4,500,000

605 West Avenue
Riverwest LLC to MCP SP West Avenue LLC, $3,000,000

698 West Avenue & 714 West Avenue
699 Riverwest II LLC to MCP SP West Avenue LLC, $2,000,000

239 Silvermine Avenue
Christian & Meghan Pendergast to Dino Verardo & Danielle Botliglieri, $825,000

28 Harris Street
Erna Schwolow Trust to Kate Morrison, $270,000

home sales norwalk

Norwalk CT Property Sales Transfers June 1- 15

68 Roton Avenue
David Lloyds to Mark Landis & Mary Singleton, $1,775,000

9 Park Street Unit 212
Estate of Carolyn Kyle to David Seidel, $213,000

11 Richards Avenue
Patrick & Catherine Neligan to William Lawrence & Jessica Sywood, $690000

105 Richards Avenue unit 1302
Alana Fuscaldo to Sheeta Mundra, $290,000

8 Little Brook Road
Caroly Fish to Jonathan & James Welsh, $1,100,000

31 Stuart Avenue Unit B-17
Deutsche Bank Trust Co to Betty Portanova, $109,500

228 Newtown Avenue
Estate of Helen Haybeck to Michael Vinci, $264,000

167 Rowayton Woods Drive Unit 167
Brian Simmons to Emily Grabowski Trust, $340,000

21 Camp Street
Pasquale & Beatrice D’Orio to Jeffrey & Carla D’Orio, $156,500

50 Aiken Street Unit 323
Lisa Conte to Jessica Bolin, $255,000

50 Aiken Street Unit 454
Stephen Kerepesi & Karen McGinn to Nancy Baldauf, $210,000

95 George Avenue
Daniel Santarella to Mark Jackson, $246,500

40 Ferris Avenue Unit 6
Woodbury LLC to Joshua Andrejczyk & Tiffany Widdows, $412,000

8 James Street
Matthew & Maura Smith to Jeffrey & Barbara Sisko, $800,000

100 Seaview Avenue Unit 1F
Thomas & Sherry Koski to Gregory & Donna Wilson, $520,000

40 Ferris Avenue Unit 2
Woodbury LLC to David & Christine Yoder, $410,000

2 Tulip Tree Lane
Jean Fulton Benedict Trust to Richard Francia, $515,000

23 Flicker Lane
Brian McCormick & Kathryn Neff to Mark & Julie Turco, $800,000

5 Overlook Road
Taber & Susan Hamilton to Gahl Zabar, $545,000

5 Cottontail Road
Christine Savas to Brian Cruse & Elysa Jacobs, $565,000

11 Dry Hill Road
Oswaldo Montaleza to Nicolas & Abram Savopoulos, $290,000

3 Singing Woods Court
James & Mary Cain to James & Kelly Cain, Jr., $870,000

15 Naromake Avenue
Stephen & Anissa Sanborn to Ryan Rozycki, $480,000

3 Oakwood Avenue Unit A20
Jessica Carino to Christina Pellegrini, $250,000

14 Deepwood Lane
Estate of Marshall Eyes to Antonio & Shannon Hernandez, $312,000

79 East Rocks Road
Einar Tangard to Daniel & Anna Hoffkins, $379,000

22 Douglas Drive
Nancy Finch to Rosa & Carlos Lopez, $515,000

11 East Avenue
Ruth Craig to Sean & Kathryn McCabe, $280,000

5 Shorefront Park
Mark & Mae Lin Lewis to Daniel & Alison Sachs, $440,000

8 Spring Hill
380 Danbury Road LLC to 8 Spring Hill Avenue LLC, $165,000

80 County Street Unit 1N
Bessie Room to JBS Realty Group LLC, $105,000

4 Nathan Hale Drive
David & Jane Crandall to Britton Jones, $3,300,000

415 Foxboro Drive
Marian Mucci to Sandra DiBella, $355,000

9 Park Street Unit 409
James Maye to Christopher Allen, $115,000

12 Seaside Place
Judith Hyers to Andrew Greenfield, $1,500,000

97 Highland Avenue
Kerschner Development Co LLC to Douglas Leister, $1,350,000

25 Couch Street
Gregory & Craig DeValda to Kiriaki Tsaharides, $232,000

324 Strawberry Hill Avenue Unit b208
Gary & Leigh Mazurak to Jessica Mazurak, $177,000

204 Rowayton Woods Drive Unit 204
Estate of Sally Case to Joan Ward, $365,000

204 Foxboro Drive
1 Singing Woods Court to Arthur & Terry Misita, $410,000

224 Silvermine Avenue
Mark Sheeran to Robert Shaw, $350,000

28 Burchard Lane
Shirley Barrere to John Dolan & Elisa Petit, $510,000

home sales norwalk

Classic Car Show – Calf Pasture Beach – Norwalk – August 10 2011

Concert, classic car show are free at the beach – Norwalk

 The First County Bank Summer Concert Series continues Wednesday, Aug. 10 (rain date Thursday) with a classic car show and a performance by Dreamin.

 A parking fee of $ 5 per car will be charged for cars without a Norwalk beach sticker.

Beginning at 6 p. m., attendees can view more than 100 vehicles at the car show, hosted by the Coachmen Rod and Custom Club, an organization of men and women who enjoy classic cars. Owners of 1981 and older cars can participate in the shows, which attract owners from throughout the tristate area. Each car show participant is asked to contribute canned food or make a donation to the St. Vincent De Paul food bank.

The Dreamin’ concert begins at 7 p. m. The band features vocalists Joey Bennett, Douglas Dorsey, Timmy Hayes, Tommy Talercio and Richard “Cookie” Thomas.

 For additional information, call the Norwalk Recreation and Parks Department office at ( 203) 854- 7807 or visit the web site at www.norwalkct. or for the complete summer concert schedule.

 For cancellation information, call (203) 854-7938.

home sales norwalk

Norwalk CT Property Sales Transfers May 16 – 31

5 Hayes Avenue
Mercedes Weisheit to John Weisheit, $325,000

28, 34 & 44 Slocum Street
EMS Group Limited Partnership to 44 Slocum Street LLC, $1,275,000

25 Honey Hill Road
Estate of Grace Vadas to Patricia Panasuk, $312,000

19 Melrose Avenue
Robert Murenan & Minnie Goodlavage to KTF Design LLC, $263,133

6 Farm Creek Road
Six Farm Creek LLC to Arick & Kalyw Rynearson, $1,780,000

7 Garfield Street
Estate of Mario Monticchio ot Christene Moise, $285,000

1 Hollow Tree Road
Marie Cunliffe to Maureen Burke, $312,500

50 Fairview Avenue Unit 3G
Brian & Dianne DiStassio to Lena Chu, $155,000

10 Eversley Avenue
Andrew Meikle & Adrienne Law to Prudential Relocation Inc, $577,500

16 Brookhill Lane
Susan Pascucci to Francis Prenevost, $438,000

25 Grand Street Unit 117
Peter Sillan to Kristin Iorio, $184,900

2 Winterset Drive
Estate of Mary Freding to Delphine Swierc, $435,000

174 Woodward Avenue
Hector Reyes to Bruce Freitag, $186,000

135 Highland Avenue
Ellen Duggins to Scott & Lindsey Sozio, $1,700,000

181 Rowayton Woods Drive
Francisco Rendon to Joshua Frank, $387,500

17 Eleanor Drive
Lisa Pullia to Michel Campbell & Lisa Yerinides, $392,500

9 Rhodonolia Park
Estate of David Luty to Helen Sam & Arockia Raja, $410,000

52 Wolfpit Avenue Unit 2A
Arthur Wargo t Giuseppe Mercuri, $105,000

36 Ferris Avenue Unit B2
Woodbury LLC to Renault Young, $400,000

17 May Drive
Adam & Tara Kovach to Daniel Sanabel, $830,000

169 Perry Avenue
SSB Realty Holdings LLC to Rudolph Eberstadt, $460,000

2 St James Place
Susan Castle & Pamela Bayly to Two St James Place LLC, $700,000

5 Lycett Court
Matthew & Sandra Purowitz to Scott Smith, $545,000

154 Strawberry Hill Avenue
Capital One NA to Konstantinos Spetsaris, $237,000

15 Styles Lane
Theodore Hammack & Elizabeth Leidhold to Miroslavt Siloboda & Lucia Nagyova, $314,000

15 South Street Unit 1A
C & T Partners LLC to APH 15 South Street LLC, $250,000

40 Ferris Avenue Unit 5
Woodbury LLC to Evan & Deborah Dubin, $400,000

75 Wolfpit Avenue
Richard Silverstein to James Andrasi & Michelle Martelli, $430,000

8 Winnipauk Drive
Laura Kaehler to Joseph & Elaine Campanie, $450,000

home sales norwalk

July 2011 Real Estate News – Second quarter statistics

 

  The State of the Market Second Quarter 2011

 Can you believe it summer already? Every person that I come in contact with wants to know what is really going on with housing. I can give you the report from our area and it is not all bad news! Home sales in the first quarter have shown a slight gain overall compared to last year. However home sales in this second quarter increased in Norwalk and most of the surrounding towns. Rental prices are beginning to increase as some buyers are still reluctant to make a commitment and purchase a home at this time. Perhaps if rental prices climb high enough, home buyers may decide to jump back into the market.

 Investors should keep their eyes open and grab some of the great opportunities that present themselves in today’s real estate market. You can buy a nicely maintained single family home, spruce it up, rent it out and actually make some money until the housing market comes back. There is a tremendous demand for nice rental properties and clients are paying top dollars for remodeled homes.

 Here are a few statistics from Consolidated Multiple Listing system.

 As of July 29th 2011 Norwalk is showing an increase in inventory compared to last quarter. Currently there are 490 single family homes and 283 condominiums on the market. Those inventory numbers are up from last quarter’s number of 398 single family homes and 258 condos.   In the first quarter of 2011, 83 single family and 39 condos sold. Home sales are up for the second quarter 125 single family homes and 55 condominiums sold. We are heading into our summer market and there is simply no way to tell how it will fair. If you are qualified and ready to buy, you can get a great deal at this time.

 Westport and Wilton properties are pretty hot right now as prices are down significantly from last year. This has led to an increase of sales in these towns. Here are the related numbers for these communities.

 Inventory is up in Westport as they are currently showing an inventory of 379 single family homes and 30 condominiums on the market. In the first quarter of 2011, 49 single family homes and 4 condos have sold. Sales are up for the second quarter at 118 single family homes and 11 condominiums sold. This is great news

 Wilton is currently showing an increase of inventory with 227 single family homes and a decrease of 16 condos for sale. In the first quarter of 2011, 29 single family homes and 5 condos have sold. Sales are up for the second quarter at 43 single family homes and condo sales remain flat at 5.

 As a buyer or seller the best way to succeed in the real estate market is to make sure you get the proper education and guidance through a professional real estate agent. Now more than ever a reputable experienced agent is necessary to guide you through the complications that may occur in your buying or selling situation. Bondi Realty Group LLC has the experience and expertise. We are experts in short sales and can help you sell your home successfully. We are currently offering both buyers and sellers incentives when working with us. Please call us today for all of your real estate needs.

 Betty Bondi
Owner/ Broker

www.BondiRealtyGroup.com

203-899-9990

home sales norwalk

Norwalk CT Property Sales Transfers May 1 – 15

806 Foxboro Drive
David & Olivia McNeal to Dennis Britrick, $380,000

22 Forest Hill Road
Niles Howard & Cindy Still to David Jones & Cory Acomb, $759,000

50 Aiken Street Unit 296
Karen King to Lora Piazza, $271,300

8 & 10 Indian Spring Hill Road
Christina Childs to John Fujioka, $915,000

175 Rowayton Woods Dr Unit 62 & Garage
Estate of Stacy Israel to John Ricciardi, $370,000

90-92 Bouton Street
Deutsche Bank National Trust to Fleury Dievla & Sylvain Milcado, $204,900

16 Donna Drive Unit 9
Nancy Oberst to Steven & Sharon Defala, $210,000

7 Saddle Road
Suzette Ringle to Angelo & Karen DiPasquale, $382,000

59 Russell Street
Michael & Heather Griswold to Timothy & Jennifer Jefferies, $327,500

196 Scribner Avenue
Robert Barzyk & Susan Brooks to Andrienne & Mathew Hoffman, $745,000

123 Old Belden Hill Road Unit 35
Estate of Frank Keen Sr to Denise Hebert, $285,000

16 Indian Spring Road
Jared & Susan Demark to Richard Tanner & Gilliam deHaan, $1,299,000

45 East Rocks Road
Estate of Fay Evanstead to Rose Butler, $370,000

25 Grand Street Unit 14
Ryan & Shelley Follick to Abins of Florida LLC, $244,900

78 Fawn Ridge Lane
John & Janet Bermingham to Diego Eusse, $330,000

35 Witch Lane
Kerschner Development Co LLC to Matthew Fogarty, $1,325,000

37 Riverside Avenue
Mary Caldwell to Juan Jimenez, $201,500

47 Stonecrop Road
Harry & Mary Wong to Jason Petrini & Matthew Petrini, $380,018

27 Catherine Street
Rina Demarte to Joseph & Melissa Milano, $260,000

144 East Avenue Unit 306B
RMS East Avenue LLC to Aleksey Gershgorin, $345,000

15 Thomas Place
Pierre Rogers Trustee to Donna Rohs, $1,676,000

5 Highview Avenue
Kevin Gilrain & Danie Dyksen to Matthew & Emily Bergantino, $555,000

9 Derby Road
Randal to Elgallo & Berline Alphonse, $310,000

9 Novak Street
Estate of Helen Deamy to Cesar Rivera & Silvia Hernandez, $139,000

13 Benedict Street
Estate of Raymond Cullen to Positive Properties LLC, $240,000

100 Seaview Avenue Unit 4C
Estate of Elissa Chacker to Erika Schmidt, $250,000

144 Partrick Avenue
William & Marianne Josem to Rockne & Jill Tavello, Jr., $250,000

105 Richards Avenue Unit 2304
William Scott & Yvonne Fung to Evelyn Solorzano, $305,000

28 Ledgewood Drive
Tristan & Jennifer Jordan to Joseph Gorsky & Gretchen Clausen, $426,500

37 St Marys Lane
Lisa Kinight to Janet Donovan, $350,000

46 Winding Lane
Estate of Annelies Venus to Ross Wolfson, $440,000

49 Day Street Unit 311
BAC Home Loan Servicing to Francisco Cisneros, $110,000

Roton Point Unit 223
Linda Lipay to Neil & Travis Azous, Trustee, $125,000

104 Rowayton Woods Drive
Dianne Goodnow to Richard & Joan Vanderbilt, $318,500

12 Leuvine Street
Anna Contadino to Christopher & Wendy Scarlett, $277,500

133 Main Street Unit 3
Deutsche Bank National Trust Co to Paula Prisco, $162,100

32 Haviland Street Unit 207
Scott Strazik to Kevin Bourke, $225,000

237 Silvermine Avenue
D M Brown Builders LLC to Vincent & Robbin Scialli, $1,090,000

97 Richards Avenue D11
Steven & Joanne Fasano to Gopinath Praghu, $210,000

152 North Taylor Avenue
Arche Colburn to Timothy & Jennifer McGrath, $385,000

home sales norwalk

Buyers Avoid Fixer Upper Homes – May 2011

Bondi Realty Group Norwalk article May 2011

Buyers avoid fixer uppers

In the overheated housing market of the past, buyers felt that they had to accept homes even though they were in inferior condition but these days, most view an as- is property and run the other way.

Buyers have little or no tolerance for homes that need fixing up. They want to walk into the picture perfect home and just move in. A move in condition home is in the number one position when buying a property today. One factor that is the main cause is the tight lending by the banking industry. Buyers must put down more money as a down payment, resulting in less money to fix up their new home.

This is absolutely the story of today’s market. Buyers will pay a premium to get a home in move in condition. They will even engage in a bidding war just to avoid buying a project house. As a result we strongly advise homeowners to remodel before listing their home to get the best price and fastest sale possible.

We recommend against major renovations, such as replacing the kitchen and baths.

Sellers shouldn’t risk spending more than they’d get back in the sale price. This can be true with major kitchen and bath renovations because they are such a personalized taste.

There are however ways to spruce up kitchens and baths without blowing your budget. Think about replacing or painting cabinet doors and hardware. Install a new faucet, countertop and sink. In the bath, add a new toilet, fresh paint and new grout. These small changes can make a big difference when selling your home.

On the other hand, major maintenance and safety issues such as underground oil tanks and leaky roofs, heating and air conditioning must be dealt with before the home goes on the market because buyers are unwilling to take them on. These issues can be discovered and dealt with by having a home inspector come in prior to listing your home. You will now be prepared that your home will pass inspection and increase the chance that your sale will go through.

Beyond those kinds of headaches, sellers can make a big difference with simple and relatively inexpensive fixes: painting the walls, getting rid of clutter and pulling up carpets to show the hardwood floors that buyers crave.

Curb appeal is extremely important. Spruce up the front yard and entryway to make a good first impression. Trim the bushes, cut the grass, plant fresh colorful flowers in the garden and in pretty glazed pots. Give the front door a fresh coat of paint.

Getting rid of clutter is absolutely essential. A buyer needs to envision how the house will look with their items in place. Do an intense deep cleaning. This is a very cost effective step that is extremely necessary. You’ve got to clean it out sometime; if you do it now, it’s going to benefit you financially. If sellers can’t or won’t prepare their homes for the market then they will have to lower their expectations on price.

Sellers – If you are looking for the best real estate agents in the business, look no further than Bondi Realty Group LLC. We can provide the best service in the business to you! Please contact us for your personalized free market analysis today. Our coverage area includes Norwalk, Darien, New Canaan, Westport & Wilton, CT. If you are moving out of the area we have an extensive referral network.

Betty Bondi

Owner/Broker

Bondi Realty Group LLC

203-899-9990

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