It seems to me that the upcoming elections in November have caused the “spin” to pick up speed with bad economic news aimed at the Obama administration or the Republicans, depending on where you get your news. The local economic news here is Fairfield County and Darien is stable and home sales bounced upward last spring.I believe, in large part, because the “f “word….FEAR…was removed from the equation. People stopped feeling like the world was coming to an end,that the local NYC job market had stop hemorrhaging ,and therefore that maybe it was OK to dip their toes back in the real estate pond.

But here it comes again. According to various reports  we are either headed for a double dip recession or a recovery, however protracted.Is it a coincidence that there are mid term elections coming down the pike in 60 days and  that the natives are once again beating  apocalyptic drums.I think not.I wonder too if these guys realize that not all markets are like Las Vegas and Florida. Prices have stabilized. here and elsewhere.The media has the ability to kill the goose that laid the golden egg for everyone. A recent article on the Opinion pages of The New York Times by none other than Greg Case of the Case-Schiller index makes the point.http://www.nytimes.com/2010/09/02/opinion/02case.html?_r=1

In the article he makes a very persuasive argument for buying a home now as well as the fragility of the market based upon the news of the day.Interesting reading especially from a guy whose livelihood is statistical information.

The following information was obtained from the Office of the Town Clerk:

2 Hickory Lane:  Robert Van Marx, Trustee, sold to Marc Sonneblick and Cynthia Sonneblick for $1,410,000.

6 Sylvan Road:  Christopher Price and Margaret Price sold to Tomas Chadwick and Anna Maria Chadwick for $1,860,000.

25 Pheasant Run: Tina Buonomo sold to Daniel Hahn and Juliet Hahn for $1,325,000.

2 Mansfield Place:  Alan Buffington and Katherine Buffington sold to Richard McCann and Amelia McCann for $1,250,000.

27 Nearwater Lane:  Cynthia Callahan, Trustee, sold to Brian Turner and Joanne Greenwood for $1,100.000.

58 Pear Tree Point Road: Sharon Kells sold to Richard Critchlow and Deirdre Critchlow for $4,400,000.

18 Crane Road:  Gerard Hickey and Catherine Hickey sold to Robert Ageloff and Kimberlee Ageloff for $1,925,000.

4 Sherry Lane:  Janet Defrino sold to Christopher Price and Margaret Price for $2,252,500.

14 Sherry Lane:  Gilbert Kernan and Kimberley Kernan sold to Lelan Hart and Marijke Werhane for $2,185,000.

9 Morley Lane:  Dennis Cummings and Beverly Cummings sold to Gloria Ann Lloyd and Ali Kayhan for $1,170,000.

28 Sunset Road:  Jonathan Walker and Madeleine Walker sold to David Bloomer and Mary Mahony Bloomer for $2,150,000. ]]> http://thegoldcoaststandard.com/2010/09/02/property-transfers-august-2010darien-homes/feed/ 0 http://thegoldcoaststandard.com/2010/09/02/property-transfers-august-2010darien-homes/ http://feedproxy.google.com/~r/TheGoldCoastStandard/~3/HkMeM7FgiOM/ http://thegoldcoaststandard.com/2010/08/31/want-to-sell-your-house-the-unfortunate-answer-darien-homes-for-sale/#comments Tue, 31 Aug 2010 22:54:58 +0000 Karen Brewer http://thegoldcoaststandard.com/?p=2246 The advice from Tara Nelson of Trulia is seemingly simple. But you’d be amazed how many  Darien homeowners are stuck on,  “but we need to get x dollars” What you think you need to get for your home and what the market will bear are distinctly different.The advice below is good although it may be a bitter pill indeed.

        LOWER YOUR ASKING PRICE IF YOU EXPERIENCE TWO OF THE FOLLOWING:                        

•  Do multiple listing agents have recommended listing the home at a lower price.
•  Does feedback from the buyers’ agents suggests the home is overpriced.
• Is the home getting any showings, even though it’s marketed well.
•  Has the home has sat on the market far longer than other homes in the area.
• Have there been multiple offers, but they’ve all been significantly under the list price.

http://lxtv.com/openhousenyc/video/10829

All Darien Homeowners should lock their cars!

Alas -any balanced blog about Darien and vicinity has to include some mention of crime. In my 25 years here, there have been occasional burglaries,telephone or door to door scams and lots of reports of various DUI arrests that appear in the weekly Police Blotter.

The crime of the month appears to be a series of unlocked car break ins where apparently there is little if anything taken from the vehicles.Curious but true. If you’re interested in knowing more click here for a link to this weeks Darien Times. Oh and no matter where you are, lock your car!

http://www.nytimes.com/2010/08/22/realestate/22wczo.html?_r=1&scp=1&sq=in%20the%20region%20connecticut&st=cse

But then I remembered a story from when I had just begun in the business. I had a client who wanted an antique property and was willing to look in various towns. in Fairfield County.We wound up in Wilton CT at an old but lovely property from  the late 1800’s. It had original floorboards,fireplaces and the location she was looking for.

So we took the short ride to Wilton and entered the house. The house was clearly old but not in bad shape downstairs.We went upstairs to view the bedrooms and came upon a child’s room. It had an antique cradle and some other furniture  in it. We were in the room for no more than a few seconds when what could only be described as a bad feeling came over both of us. We simply looked at each other in disbelief and all I remember saying was,”Lets get out of here.”

We descended the stairs quickly(like two steps at a time) ,got outside and couldnt get off that property fast enough. We talked about it and can  only surmise what had just happened to us.

Ive never had a similar experience in a Darien home although I admit that I think Iknow when a home has been a happy one. That has a feeling just as palpable as the creepy one. Most homes feel neutral but, from time to time there are houses that simply do not feel welcoming.

On a family vacation to California,I remember visiting San Simeon, the home of William Randolph Hearst. There  amongst the luxury, great architecture and  art I felt an odd feeling and still believe that something bad happened there. I couldnt wait for the tour to be over.

Maybe I should write on business card that I’m the Darien  “House Whisperer”.

Looking for a Rental?

Whatever the case, it takes a good Realtor to figure out where dormant rentals may be. A current client has just recently sold their home and (yes I sold it for them) and needed a rental as soon as possible.We saw just about everything on the market in their price range and came up empty.With the clock ticking I decided to use my access to the Fairfield County Multiple Listing Service to look up homes and condos that had been on the market over 120 days to see if those homeowners would be willing to rent.

As a Realtor I have homeowner and listing broker information for all listings in Darienand surrounding towns,something the average renter or home buyer does not.(in spite of the Internet age).I called about a dozen of them to see if they were willing to rent for a year and voila, I got a couple of new properties to show that previously had only been on the market for sale.

I found the rental for my client literally by looking in places they dont exist.Similarly Realtors have knowledge of listings that are yet to come on the market and may be just what you are looking for. The moral of the story”Sometimes you have to dig to find what you’re looking for.”

Still think you dont need a Realtor?  The Internet can’t do it all.Call me if you need help.203-554-0951

Nevertheless we can look in the rearview mirror and draw some general conclusions. The Darien real estate market has in some ways bounced back and in others remains sort of depressed.Number of homes sold at the end of June versus 2009 was up 63%. Average sale price was up over $1.6million up over 21% from the previous year.

On the other hand,homes are taking longer to sell. The days on market this year was 165 versus the 118 days needed to sell in 2009.Anecdotally however, if you priced your home to reflect the 2009 downturn you are able to shorten this average time considerably.I’ve opined on this subject endlessly in other posts.

Generally prices remain at 2009 levels and we are not expecting any bounce in that department any time soon.

All that said,interest rates remain ridiculously low as do prices making this a great time to buy especially if you plan to stay in the home for several years.