This home purchased for $1 million on June 22nd, 2005 now becomes…

a new colonial which sold in December, 2006 for $2,947,500.

Photos courtesy of Dave Matlow, WestportNow.com.

In Westport, Weston, and Fairfield, sales volume and prices have increased in all three towns.

Westport

345 homes sold during the same time period as last year resulting in approximately a 3.5% increase in homes sales in Westport. Of those homes sold last year, the average sale price was $1,620,833 while this year’s average sale price has been $1,681,184. Sales volume has increased, and home values have increased by 3.6%.

Weston

121 homes sold during the same time period last year resulting in approximately a 13.6% increase in homes sales in Weston. Of those homes sold last year, the average sale price was $1,231,043 while this year’s average sale price has been $1,288,564. Sales volume has increased greatly, and home values have increased by 4.5%.

Fairfield

570 homes sold during the same time period last year resulting in approximately a 19.7% increase in homes sales in Fairfield. Of those homes sold last year,the average sale price was $824,545 while this year’s average sale price has been $897,173. Sales volume has increased greatly, and home values have increased by 8.9%.

1. People who look at properties during the holidays are serious buyers and are more ready to make a decision.
2. Serious buyers have fewer houses to choose from during the holidays, so property has less competition.
3. House “shows better” when decorated for the holidays with the wonderful light and festive colors associated with the season.
4. Buyers are more emotional during the holidays and often base their decision on the warmth and good feeling they receive when viewing your house.
5. Buyers have more time to look for a house during the holidays because they have designated time off from work to purchase a home.
6. Many people want to buy before the end of the year for financial and tax reasons.
7. January is traditionally for transfers. Transferee can’t wait until the spring to buy. Your house must be on the market to capture these buyers.
8. You may restrict showings during your own personal family events and still take advantage of your spruced up and decorated “show ready” property.
9. You can sell now, but specify a delayed closing or extended occupancy until early next year if you so desire and if agreeable to the other party.
10. By selling now you have an opportunity to buy during the spring, when more properties are on the market.

General market conditions across the U.S. have recently changed, arguably from better to worse. However, Westport has remained strong and continues to be an exception to the general volatility of other markets. Sellers will experience the resiliency of Westport markets if they price correctly, as the right price is key to selling success. This remains especially true in today’s market. To date, 305 homes closed this year with an average market time of 104 days and an average sale price of $1,643,533. Last year during the same time period, 308 homes sold with an average market time of 90 days and an average sale price of $1,527,629. The Westport market continues to be strong and properties at all price points are selling when priced correctly. Westport buyers are well educated and do thorough research. The key is if you really want to sell your home today, price it correctly.

If you ask any knowledgeable Realtor in the Westport/Weston area whether we are in a bad market, he or she should say that, despite what you hear, for the most part, no. Before you jump to any conclusion about the validity of this statement, however, you must consider how we define a bad market today.

Though the high rated newspapers—and the ones that most of us read with our morning coffee—like the like the Wall Street Journal and the New York Times stress the falling stock markets and the weakening real estate markets, these so-called market experts that constantly worry us may not have the facts straight. Moreover, their commentary may not apply to the Westport/Weston real estate market.

A bad market does not actually truly exist in the real estate market because people are never going to stop buying houses. There are always going to be buyers out there, whether they are first time buyers looking to find a place to raise a family in, buyers who just had a job transfer, or families who needs to downsize. So homeowners looking to sell can almost always find buyers and buyers looking to find a nest can usually find a place that fits their needs. This is to say that there will always be value in your property. But you may be wondering, can I get a good deal?

In Westport and Weston right now, supply exceeds demand by a considerable amount. So, no, housing values have not declined, but we are in fact in a “depreciating” market, which signifies that the buyer has the advantage. As a result, buyers are looking for steals and there are some good deals out there, but bidding wars usually can up the prices. So sellers do not usually need to worry if their houses are priced right.

Now let’s return to those newspapers that wrongly convince us that we’re in a bad market. Putting aside all that I just clarified about a bad market and realize that the Westport/Weston real estate market is not always affected by the general (or real estate) market, nor does it respond in a way that other markets do. The Westport and Weston real estate market has always been a historically solid market, and therefore does not tend to reflect stock market trends. Statistics show that the average sale price has risen in both Westport and Weston, but the number of transactions has gone down while inventory and market times have risen. This seemingly distorted trend can be attributed to a disproportionate number of properties selling in higher-end price ranges. The upper end’s success has not prevented the current “sideways” market, which has existed since the beginning of 2006. This is not likely to change, but the Westport/Weston real estate market’s solid foundation will make up for it.

Today many homeowners wonder whether to switch to organic lawn products. Though the cost and effectiveness of natural fertilizers and treatments is a definite downside, I find the benefits of the switch, such as improved air quality for my family, neighbors, and the environment to be much more compelling. Furthermore, researchers at the Harvard School of Public Health found that individuals reporting exposure to pesticides had a 70% higher incidence of Parkinson’s disease than those not reporting exposure. A study in the Journal of the American Veterinary Medical Association suggests that exposing dogs to some herbicide-treated lawns and gardens may increase their chances of developing cancers. Another controversial issue is whether people should switch to the organic products as a sign of good citizenship because, according to some sources, inhaling the chemicals is similar to the secondhand smoke issue so your lawn may be affecting your neighbors’ kids as well as your own. Local groups as well as nationwide environmental organizations are pushing for the ban of pesticides and chemical treatments for lawns, but that may be a stretch for the current situation, considering many U.S. citizens have already complained about local pro-organic pushers. Opponents of the organic lawn products movement say that without chemical products they would not be able to conserve their green and carefully groomed lawns. In the meantime, if you have the time and resources, you can easily switch to organic lawn products and it’s a great way to help make a positive change to keep our air clean and toxin-free.

How to go pesticide-free…

Get a Soil Test

Knowing what your lawn’s strengths and weaknesses are can help you decide which fertilizers and soil amendments you’ll need as you convert to organic care. Tests can be done by pros or with do-it-yourself kits available in stores and online at sites such as www.gardensalive.com.

Dump the Pesticides

Though nothing annihilate weeds as fast as chemicals, you can eliminate most of them naturally. A natural corn-gluten herbicide, such as Cockadoodle DOO Weed Control or WeedBan (www.purebarnyard.com and www.extremelygreen.com) will do. Apply in early spring and late summer and not when seeding new grass.

Switch to Natural Fertilizers

Organic brands can now be found in most gardening centers and home improvement chains, including Home Depot and Lowe’s. Fertilize in fall and midspring.

Mow High and Water Deep

Keep grass on the long side (3 inches) to fight weeds. Don’t cut the lawn while it’s wet. Leave clippings to feed the soil, but rake out clumps so grass doesn’t turn brown underneath. Lawns need about 1 inch of water a week. Water early (5 a.m. to 8a.m. is best) and for concentrated periods. Water from late spring to early fall.

Enhance the Turf

Nutrients like compost tea sprays, liquid seaweed and grub detergents may build soil’s biology and fight pests. Brands can be found at www.gardensalive.com and www.extremelygreen.com.

Applying Seeds

When nights are cool, grass grows best. Fall is the ideal time to over-seed lawn and fill in any bare spots.

Did you know that within 15 seconds a buyer has already developed an opinion of your property? This is why establishing the right first impression is critical to achieving a successful sale. Following is a list of elements which create the overall first impression, including suggestions on how to make sure the buyer reacts favorably.

Paint

A fresh coat of paint can be one of the best investments you can make to increase the value of your home. If you do not want to spend the money to paint the entire apartment, consider just the entry at least.

Windows

Attractive windows can help increase appeal

Replace any cracked or broken glass Make sure the windows are sparkling clean Apply touch-up paint where needed

Doorway

The Doorway is a focal point of your home

Repaint the door Apply new door hardware

Appeal to the Senses

There are many ways to create a more exciting and interior, at surprisingly little cost

Light

People react more favorably to property shown under bright light than dark

Keep windows clean Use adequate wattage in light bulbs Consider replacing older fluorescent lamps,which darken with use Use mirrors to magnify the feeling of light and space Open drapes and blinds and turn on lights prior to showings

Color

Keep colors neutral and light

Shades of white,off-white and very light pastels are the safest choices for the interior Avoid highly patterned wallpaper whenever possible Try to limit bright colors to accents like fresh flowers,towels,area rugs and shower curtains

Smell

Smell has more impact than you might expect. It can work for or against you

The smell of newness is positive. This scent can be achieved by applying a fresh coat of polyurethane to natural wood or latex paint to walls The smell of cleanliness is important to the selling environment of your home. Beyond actually cleaning, lemon oil or lemon wax can help create a lasting scent of freshness. Fresh flowers can also be effective For a real heart-warming touch,place a dish of vanilla in a warm oven to create the aroma of fresh-baked cookies or bread

Sweeten the refrigerator with a box of baking soda Smells to avoid include strong pet odors,tobacco and cooking oil

Housing Statistics:

Units        Average Price

January 07

Westport                                         17         $1,591,500

Weston                                             5           1,200,900

Wilton                                              10          1,067,350

Fairfield                                             49             642,965

Norwalk                                             40             755,313

January 06

Westport                                           34           1,584,272

Weston                                                4           1,086,750

Wilton                                                11            1,274,773

Fairfield                                               38              834,134

Norwalk                                               42              667,362

So far the 2007 market looks like its off to a great start. Last
week 3 great homes came on the market and sold within a day.6 Buena Vista Drive came on with mutiple offers and sold the next day. The home was priced at $1,299,000,was 2806 sq ft had 3 bedroom and 2 baths with 2nd and 3rd floor waterviews.You had to be very fast to catch this great home. 5 High Point Road, was priced at $1,150,000,was 2934 sq ft on just over 1 acre of land and had a pool.3 Pilgrim Trail also sold pretty quickly when it came on again(it had been on before the holidays at a much higher price) but, this time it was price quite well for the market and sold withinn a couple days of coming on the market. It was priced at $1,399,000 and was updated with a spectacular kitchen, family room and all new baths.

In general it does appear if the market has picked up some here are the statistics so far

Westport

As of Feb 7, 2007, there are a total active listings of 293, with an average list price of $2,344,993 this compares well with data from June 27,2006 when we had total active listings of 395 with an average listing price of $2,154,625.Prices are basically the same but, inventory has dropped 26% which is a clear indication that the market is picking up.

Weston

The numbers in Weston pretty much follow Westport with a total active listings as of Feb 7, 2007 of 148 with an average list price of $1,668,598. As of June 27,2007 there were 175 active listings with an average list price of $1,657,770. Again,prices are the same but, inventory is down 15%.