Rowayton

Staging Facts for Home Sellers

 

 Staging facts for home sellers

 If you really want results and would love to stand out above the competition when you sell your property, then consider hiring a professional home stager.

A small investment in staging can result in a much higher price for your home.

 Birgit Anich is a professional stager and lifestyle market specialist. The results from her expertise are amazing.  Check out her website www.BirgitAnich.com

Here is what she has to say about home staging and the local real estate market.

                                                                     How to Reveal the True Value of Your Home

When selling real estate – or any other product – there are always two sides that need to be considered. There is a difference between the PRICE and the VALUE of a property.

1. The PRICE is the amount of money you are asking for the property.

2. The VALUE is whether the buyer perceives that your property is worth or desirable for that price.

The perceived value is influenced by many factors, such as location, condition, features, appeal, and comparison to other listings in your market area. If your house has been on the market for some time and you have not received offers or not the offer that you desired to achieve, this is an indication that the buyers do not perceive the value of your property worth the price you are offering it for.

When selling your house you are in business and it is important to understand today’s real estate buyers and what they consider valuable in their decision when making their single largest expense. Buyers today are not buying the same way as buyers from just a few years ago. Due to a large selection of homes available to them on the market, buyers can afford being picky and in what they want to have. So what are some things buyers looking for?

• A move-in-ready home: most buyers do not want to purchase projects when they make their single largest expense. They want to be able to move in and immediately continue with their life without having to spend more money and time.
• Buyers are looking for a lifestyle. They do not just buy a house, they buy a home, a lifestyle they are dreaming of.
• Updated kitchen and bathrooms
• High-end finishes for appliances
• Curb appeal

So, what does this mean for you as the home seller? Are you showing your house at its best value to your buyers?

What are some of the things you can do to reveal the true value of your house?

1. Take care of all repairs.
2. Hire a real estate agent – pricing is their expertise.

3. Consult with a professional home stager on how to prepare your house for sale to show the maximum value to your target buyers. The home stager will consult you not only on how to update most cost efficiently different areas to achieve the highest return on investment, but also how you make your property stand out from your competition.

4. Update your kitchen and bathrooms. Your home stager can work with you on the best way to achieve the updated look without breaking your bank. Believe it or not, there are many ways to update a bathroom without having to completely renovate.

5. Arrange for a pre-listing home inspection. You show buyers that you have addressed any defects and thus add value and weight to your disclosure statement. It will eliminate or reduce buyers’ concerns.

6. The curb appeal gives the first impression when driving up to your house – make sure that this impression is a lasting one, so buyers get excited to visit your property. Consider hiring a professional landscaper.

7. Never sell a house vacant – real estate gurus will tell you that trying to sell a house empty is one of the biggest mistakes. But don’t just put any furniture in. Remember you are selling a lifestyle and added value to stand out from your competition. The right choice of furniture, furniture placement, accessories, artwork, lighting, rugs are critical for your success as each item that you add sends buyers a conscious and unconscious message to feel connected with the house. Call a professional home stager who specializes in vacant real estate staging.

Once you show buyers the maximum VALUE the house will sell faster and buyers are willing to pay more. The spring real estate market is just around the corner. Right now is the best time for you to get prepared to show the maximum value of YOUR house and consult with a professional stager. Don’t take the “let’s see how it goes and if it does not work, we can still hire a stager later” attitude. The most traffic drawn into your house will be within the first 2-4 weeks. If you don’t get the attention of buyer’s real estate agents and buyers looking online, you are wasting all this time on the market. Your house will then become a stale listing that they will not come back to visit, even if you have made changes. You then just compete on price and not the true value of your home. So, act BEFORE putting your house on the market and show it at its best value right away.

 

Betty Bondi
Bondi Realty Group LLC
203-899-9990

Rowayton

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

Rowayton

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

Rowayton

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

Rowayton

Short Sale Tips for Home Sellers

Short Sale Tips for Home Sellers

Are you thinking of selling your home and the market value is less than you owe?

If so, then you are selling your home as a short sale. There are many short sale homes on the market these days. The good thing is that most of the banks have figured out how to process the deals in a much quicker timeline than in the past. However it still takes more time than a traditional transaction.

A short sale is one where the net proceeds from the sale won’t cover your total mortgage and closing costs and you don’t have other sources of money to cover the deficiency.

A short sale will impact your credit score less than a foreclosure.

If you are thinking of selling your home and feel you may qualify for a short sale follow the steps below before making any decisions on your own. The following advice is a compilation from several different sources including attorneys, mortgage professionals and accountants.

Consider Loan modification first.

If you are thinking of selling your property because of financial difficulties, first contact your lender to see if there are any programs to help you stay in your home.

Your lender may agree to a modification such as refinancing your loan at a lower interest rate or provide a different payment plan.

When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if your property is worth less than the total mortgage you owe on it especially if you may have a financial hardship, such as a job loss or major medical bills. Contact your lender and see if they are willing to entertain a short sale.

Hiring a qualified team is the difference between being successful or not.

The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Short sales have increased in the last few years, so make sure the real estate professional and attorney that you hire has had extensive experience and closed a lot of short sales. It is important that you work with professionals that have a thorough working knowledge of the short sale process and won’t try to pressure you to do something that isn’t in your best interest.

A qualified real estate professional can provide you with a comparative market analysis (CMA) or broker price opinion (BPO). Help you set an appropriate listing price for your home, market the home, and get it sold. Place special language in the MLS that indicates your home is a short sale and that lender approval is needed. Ease the process of working with your lender or lenders. Negotiate the contract with the home buyers. Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval.

It’s a good idea to gather documentation before any offers come in. Your lender or Short Sale Specialist will give you a list of documents required to consider a short sale. The short-sale package that accompanies any offer typically must include a hardship letter detailing your financial situation and why you need the short sale. Also include a copy of the purchase contract and listing agreement, proof of your income and assets and copies of your federal income tax returns for the past two years. Buyers must be prepared for a lengthy waiting period.

Even if you’re well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take anywhere from several weeks to months. With only one mortgage, the review can take about two months. Two mortgages with the same lender, the review can take about three months. With two or more mortgages with different lenders, it can take four months or longer. When the bank does finally respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. Even if your lender does approve the short sale, it may not be the end of all your financial concerns.

Keep in mind are you may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. Every lender handles the situation differently. Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Consulting with your experienced short-sale team will get you the best possible advice for your situation. Bondi Realty Group LLC has the expertise you can count on. Call us today, we want to help you with your short sale and make it as stress free as possible!

Betty Bondi
Owner/ Broker

Bondi Realty Group LLC
203-899-9990

Rowayton

Now is the time to Buy Real Estate Investment Property!!

It’s time to buy real estate investment property!

 Have you been thinking about purchasing an investment property?

Stop thinking …….its time to buy right now! The demand for rental property is at an all time high and will continue in this direction for some time.

 My extensive experience with investment properties has been both interesting and educational. There is much to learn and if done correctly can be a very lucrative financial move. You can purchase a property, rent it out and resell it when the housing market picks up or you can keep it long term, pay it off and produce income for retirement.

 There are several housing options in residential real estate. You can purchase a condominium, multi family or single family home as an investment property.

 Let’s look at condominiums. These can be the easiest properties to start with. The first thing to do if you are considering a condo is to make sure the complex allows you to rent out your unit.

If they do, then see what other units similar to yours receive for rent. If the rental income covers your mortgage, common charge and taxes then this would make a great investment. The beauty of owning a condo is that you are only responsible for the inside of your condo. You don’t need to worry about outside maintenance including exterior painting, landscaping or snow plowing.

 What do you think of a multi family? Well there are several ways to work with this idea. Let’s say you are looking at a two family home. You can live in one unit and rent out the other. You can use the money you get from the other unit to put towards your mortgage payment every month. If you don’t have a big budget for a home purchase this can expand your buying power and make it more financially comfortable to live every month. You can also purchase the two family home and rent out both apartments. If you decide to do this make sure that the numbers work. There are formulas to use that will let you know if the rents will cover all expenses.

 The deals are out there on even single family homes. If you found a home that needs little updating, you can rent it out for a very nice price these days. A three bedroom home can rent for $2500 to $3500 per month depending on condition and location.

 As this housing market continues to stabilize, smart people are out there making deals and adding to their real estate holdings. If you are thinking of making an investment, you too should consider a rental property. We can educate and locate these properties for you! Contact us today!!

 Betty Bondi
Owner/Broker

Bondi Realty Group LLC

203-899-9990

Rowayton

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.

Rowayton

Gathering of the Vibes Music Festival July 21 – 24 2011

Gathering of the Vibes Music Festival July 21 – 24, 2011.

Seaside Park – Bridgeport, CT

www.Gatheringofthevibes.com

Rowayton

NHS Class of 1975 Cocktail Party July 23 2011

NHS Class of 1975 to hold cocktail party

NORWALK — On Saturday, July 23 from 6:30 p.m. to 10 p.m. the Norwalk High School class of 1975 will be holding a cocktail party at Quattro Pazzi Restaurant at Oak Hills Golf Course). $25/personfor hors d’oeuvres and two pastas. Cash bar. Please send checks payable to NHS Class of 1975, PO Box 110493, Trumbull, CT 06611 or email mstrolin@aol.com

Rowayton

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

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