Kaye Lewis Greenwich Real Estate

The Final Data on 2008

Thu, 29 Jan 2009 21:16:02 GMT

The Greenwich MLS 2008 Sold book was delivered today. It's immediately apparent to those of us who've been in the business for a while (22+ yrs for me!) that the book is noticeably thinner than in recent years, indicating that the number of transactions were fewer in 2008. Single family home sale prices in 2008 ranged from a low of $295,000 to $30,000,000, with a median sales price of $2,100,000. The average sales price fell only 6.2% from 2007, to $2,824,321 in 2008. Condo...

So How Bad is the Greenwich Market?

Thu, 11 Dec 2008 18:59:13 GMT

The average home sales price is approx $2.8MM now, down about 5% from last year. The median is below $2MM. The number of contracts is down between 30-35% for 2008 as compared to 2007, depending on where the figures are derived (MLS vs MLS+non MLS). Homes must be compelling, whether it's price, condition, or some unique feature (waterfront, etc.) to motivate today's buyers into making offers. In our office meeting today, Jeffrey Jackson of Mitchell, Maxwell & Jackson,...

OK, So We're in a Recession---Ya Think?

Fri, 05 Dec 2008 22:49:06 GMT

The National Bureau of Economic Research, a private committe of economists, revealed this week that the US has been in a recession since late 2007. The the Dow dropped 680 points---isn't it amazing how well kept this secret was for nearly 12 months! Data going back to post-WWII indicates that recessions last typically about 10 months. Some have lasted 16 months, some only 8 months. Let's assume worst case scenario for our exercise here. It's possible that we're over the worst of...

DON�T LET TINY CLOSETS SHUT OUT BUYERS

Fri, 14 Nov 2008 21:04:39 GMT

Experts in home staging and closet organization share their best tips on how to make the most of sparse storage space. By Kelly Quigley Walk-in closets and roomy pantries are a necessity for many of today�s home buyers, who have lots of stuff and need a place to store it. So when your listing is lacking in storage space, you have a big challenge to overcome in order to maximize buyer appeal. You�re most likely to encounter small storage areas in older homes, condominiums, and...

6 Key Facts About the First-Time Buyer Tax Credit

Wed, 29 Oct 2008 21:02:33 GMT

The tax credit may be enough of an incentive for potential buyers to jump off the fence even in Greenwich CT. That is, if you know about it. If you're thinking of helping your children buy a home, this may be a great advantage for them now. The $7,500 home ownership tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is another reason buyers should jump off the fence and get into the real estate market....

Seven Ways to Sell Your Home in Any Market

Tue, 28 Oct 2008 23:34:26 GMT

In a slower Greenwich real estate market, sellers cannot afford to ignore any part of the marketing process. Price, Preparation and Presentiation must be excellent in order to attract a buyer. The price must be set realistically: this step is the lion's share of good marketing! Preparation should include fresh paint, de-cluttering and no glaring repair needs. And presentation should be meticulous, with draperies open, lights on, lawn moved and clear of debris, with interiors...

Is NOW the Time to Invest in Greenwich Real Estate?

Mon, 13 Oct 2008 20:49:16 GMT

Everyone's trembling from the recent turmoil in the investment world and many are asking "have we reached the bottom in the Greenwich real estate world?" If you are convinced we have reach the apex, Greenwich real estate may be one of the best investments and here's a review of why... Real Estate Investment Objectives: 1. Income and cash flow - Real estate investments structured with enough down payment will generate a positive cash flow. As time passes, in...

What is a Hubbard Clause?

Thu, 21 Aug 2008 20:18:15 GMT

It's been a long time since a Hubbard Clause has been accepted in the Greenwich real estate market as a standard part of a sales contract, but real estate is anything but standard these days! I recently had a call from an agent who told me her buyer really, really wants to buy one of my listings, but needs to sell his place first. She asked if my seller would be willing to accept a "Hubbard Clause" in a contract? What, my client asked, it that? I tried to explain, but since...

How to Get Showings

Thu, 07 Aug 2008 21:42:30 GMT

I, like many active agents, have more listings now than ever. And getting showings is harder now than ever and any, and I mean ANY, roadblock between a home and a buyer can be the difference between selling or stagnation! When a home goes on the market, please remember that the goal is to sell the property. That means allowing it to be seen in the best possible condition you can offer and try to keep the barriers to a minimum. Whenever there's no lockbox, a requirement of 24 hrs...

I Saw a Great Old Greenwich Home Today...

Thu, 31 Jul 2008 19:30:59 GMT

I see my share of new construction and today I saw what I consider one of the nicest new homes on the market at 47 Shore Rd in Old Greenwich. The house is sited on a rear lot so there's no street presence, but once you're on the property, it's like being in your own private oasis...The larger than average parcel of level land offers a beautifully crafted home replete with thoughtful details, a detached 2 car garage and a guest house (virtually unheard of in Old Greenwich or Riverside)....