Archive for the 'Buying Your House' Category
What Everybody Ought to Know About Their Credit and FICO Score
July 1st, 2008 categories: Buying Your House, For Agents, Talking Real Estate
We’ve all been reading the headlines shouting about the mortgage crisis, sub-prime loans and that home buyers can’t get loans to buy their dream home. I can’t say for Nevada or Florida, but in Fairfield County, those headlines are a load of bunk! I’m still selling real estate in Ridgefield and other towns where buyers are financing 95% of their purchase!
How?… you wonder… it’s their credit score. A good credit score is the key that unlocks the door to low down payments. opening that door becomes much easier when you understand exactly what determines your FICO score.
The company that created FICO, Fair Isaac, has a FREE eBook you must read so you can really understand what a 785 means or how opening a Macy’s charge will affect your score. Download and read Understanding Your FICO Score to learn all you need to know about your credit score.
Then, check out AnnualCreditReport.com to get you free credit report from the big 3 reporting agencies.
Brad and I keep relationships with the best mortgage providers in Connecticut. We’ll help get you the financing you need to buy your perfect home. We are always available to help in any way we can. Contact us anytime.
Related Posts:
| Discussion: 3 Comments »
Rainbow Lake in Ridgefield CT: Real Estate Activity 2006-2008
May 8th, 2008 categories: Buying Your House, Lake Living, Market Data & Statistics, Recent Transactions, Ridgefield, Talking Real Estate
I have been fortunate enough to have lived on Rainbow Lake since November 2001. Over the years, there has been a lot of renovation, re-building, and refurbishing of the original lake cottages surrounding the lake that were built in the mid 1930’s to 1940’s. Rainbow Lake is a magnificent 44 acre lake nestled in a valley behind the Bennett’s Pond Trail System, Hemlock Hills, and Pierrepont State Park in Ridgefield, CT.
In the past few years we have seen an influx of city dwellers looking for a weekend retreat within 1 hour of NYC. Ridgefield’s Rainbow lake, with its quiet understated charm seems to fit the bill. Most of the homeowners of Rainbow Lake are here full-time, but the mix of weekenders and residents give it a resort feel in the heart of the New York suburbs.
Rainbow lake real estate values continue to increase as more and more people discover the allure of lake living. Following are all of the transactions from the past two years around Rainbow Lake. Note how many were listed, sold or both listed and sold by Rob and me. Nobody knows the lake like us and we are always available to answer any questions you might have about buying, selling or living on the lake. We are the ‘lake experts”!
Rainbow Lake Home Sales 2006 - 2008
Note homes listed and sold by The Kimmelman-Gutman Group (KGG)
| Address | List Price | Sold Price | Style | Beds | Baths | |
|---|---|---|---|---|---|---|
| 191 LAKESIDE DR | $599,000 | $550,000 | Cape | 3 | 2.5 | Sold by KGG |
| 210 MOUNTAIN RD | $429,000 | $429,000 | Cottage | 2 | 1.5 | Listed by KGG |
| 265 BENNETTS FARM RD | $509,000 | $478,500 | Contemporary | 3 | 1 | Sold by KGG |
| 321 BENNETTS FARM RD | $949,000 | $910,000 | Ranch | 3 | 3.5 | |
| 6 RAINBOW DR | $420,000 | $387,000 | Ranch | 3 | 1 | |
| 253 BENNETTS FARM RD | $445,000 | $440,000 | Ranch | 3 | 2 | |
| 14 CLEARVIEW DR | $519,900 | $506,000 | Colonial | 3 | 2 | Listed by KGG |
| 40 MOUNTAIN RD | $789,850 | $750,000 | Colonial | 3 | 2.5 | |
| 17 LAKE RD | $629,000 | $592,500 | Colonial | 3 | 2 | Listed and Sold by KGG |
| 174 MOUNTAIN RD | $635,000 | $621,000 | Cape | 3 | 3 | Listed and Sold by KGG |
| 6 CRESCENT DR | $575,000 | $548,000 | Ranch | 2 | 1 | Listed by KGG |
| 157 MOUNTAIN RD | $599,000 | $580,000 | Contemporary | 2 | 2 | Sold by KGG |
| 18 CLEARVIEW TER | $695,000 | $645,000 | Colonial | 3 | 3 | Sold by KGG |
| 18 CLEARVIEW TER | $849,000 | $787,500 | Colonial | 3 | 4.5 | Listed and Sold by KGG |
| 28 CREST RD | $449,000 | $428,000 | Raised Ranch | 3 | 1.5 | Listed and Sold by KGG |
| 66 CRESCENT DR | $539,000 | $510,000 | Contemporary | 3 | 2 | Listed by KGG |
| 205 MOUNTAIN RD | $899,000 | $883,000 | Contemporary | 3 | 3 | Listed by KGG |
| 333 BENNETTS FARM RD | $595,000 | $565,000 | Farmhouse | 4 | 2 | |
| 315 BENNETTS FARM RD | $375,000 | $365,000 | Cottage | 3 | 1 | |
| 109 MOUNTAIN RD | $339,500 | $339,500 | Ranch | 2 | 1 | |
| 279 MOUNTAIN RD | $1,300,000 | $1,200,000 | Contemporary | 3 | 3.5 | |
| 358 BENNETTS FARM RD | $429,000 | $431,000 | Split Level | 3 | 2 | |
| 4 WOODY PL | $499,500 | $487,500 | Colonial | 3 | 3 |
Related Posts:
- 10 Things To Know About Rainbow Lake in Ridgefield, CT.
- 5 Ways to Enjoy the New England Winter in Ridgefield, Connecticut
We are always available to answer questions, give advice or help in any way possible. Please contact us for anything.
| Discussion: 2 Comments »
6 Reasons Why Buyers Need a Strong Agent on Their Team
April 29th, 2008 categories: Buying Your House, Talking Real Estate
Here a quick rundown of why today’s real estate buyers need a strong agent on their team.
Question: What is a Buyer’s Agent?
Answer: The law in Connecticut requires us to be your agent. This is a very good thing. As a Buyer’s Agent we work solely for you and have absolutely no legal or other responsibilities to the seller.* Our fiduciary responsibility is to you. When working with a Buyer Agent, you have the benefit of personal representation, independent counseling, loyalty, confidentiality, and trust.
*In a case where the property your agent is representing you to buy is also that agent’s listing, dual agency applies. Talk to us for more information.
Question: Will a Buyer’s Agent disclose more information to us?
Answer: Yes indeed. Because a Buyer Agent’s fiduciary responsibility is to you, he or she can be more forthcoming with any negative aspects about properties that you are investigating for purchase.
Question: Does a Buyer’s Agent make decisions for us?
Answer: No. As your personal ally, advocating your best interests, a Buyer Representative is obligated to provide you with maximum information about buying a home, each step of the way. That means disclosing specifics about location, property values, offering price, negotiations, counteroffers, contingencies, financing, and the entire closing process. Armed with such vital and detailed information, you’ll be thoroughly prepared to make decisions that are right for you and your family.
Question: Why is it important to choose the right Buyer’s Agent?
Answer: Since we work for you, we are required by law to look after your best interests. This means that we will work as hard to make certain that you buy the best home for the lowest price.
Question: Who pays the fees for a Buyer’s Agent?
Answer: The Buyer’s Agent is compensated by the sellers sales commission. The buyer is generally not responsible for any of these fees.
Question: What did you mean by “confidentiality”?
Answer: Since a Buyer Agent is legally obligated only to you, he maintains absolute privacy with regard to financial and personal information. This means that we keep private any facts about your situation that might signal to the seller your position in a price negotiation (things like why you might need to buy quickly).
Question: Can you answer more questions?
Answer: We can give you more details and answer all of your questions. Just post in the Comments.
| Discussion: 1 Comment »
Ridgefield, CT Real Estate: 3 Reasons Why the Luxury Segment Remains Strong
April 14th, 2008 categories: Buying Your House, Market Data & Statistics, Recent Transactions, Ridgefield, Selling Your House, Talking Real Estate
When you look at the numbers it’s clear that the high end of the Ridgefield, CT real estate market remains strong. Over the last several years, housing stock priced in the over $1.5M bracket has grown due to new construction as well as price appreciation.
Taking a look at all Ridgefield homes that sold for over $1.5M transaction volume has remained stable for the past 3 years (see table). So far in 2008, we are tracking 2007 exactly. Demand remains high in the luxury segment of the market for several reasons including:
- Ridgefield continues to offer an extremely desirable mix of small town, country, great schools, culture, entertainment, proximity to NYC, value and more
- virtually all new construction is at the high end
- interest rates remain at historic lows
Click here to view all luxury Ridgefield CT homes currently for sale
| 2005 | 2006 | 2007 | Q1-07 | Q1-08 | |
|---|---|---|---|---|---|
| Ridgefield Real Estate: # Homes Sold Over $1.5M | 42 | 43 | 42 | 4 | 4 |
Ridgefield Transactions >$1.5M Since 1/1/07
| Street Number | Street Name | Bedrooms | List Price | Sale Price |
|---|---|---|---|---|
| 162 | OLD WEST MOUNTAIN RD | 7 | $7,200,000 | $5,500,000 |
| 110 | SOUTH SALEM RD | 5 | $4,595,000 | $4,200,000 |
| 599 | BRANCHVILLE RD | 3 | $5,000,000 | $4,100,000 |
| 8 | HAWTHORNE HILL RD | 5 | $4,200,000 | $3,843,500 |
| 154 | RIPPOWAM RD | 7 | $4,100,000 | $3,500,000 |
| 396 | SILVER SPRING RD | 5 | $3,250,000 | $3,150,000 |
| 41 | PEACEABLE ST | 5 | $3,100,000 | $3,050,000 |
| 282 | BRANCHVILLE RD | 5 | $2,600,000 | $2,400,000 |
| 105 | NOD HILL RD | 6 | $2,495,000 | $2,300,000 |
| 10 | SAW MILL HILL RD | 5 | $2,179,000 | $2,200,000 |
| 122 | NOD HILL RD | 5 | $2,250,000 | $2,200,000 |
| 4 | SPECTACLE LN | 6 | $2,275,000 | $2,200,000 |
| 24 | MARKET ST | 5 | $2,195,000 | $2,175,000 |
| 91 | GOLF LN | 5 | $2,195,000 | $2,150,000 |
| 10 | LEE RD | 5 | $1,950,000 | $2,125,000 |
| 8 | SAW MILL HILL RD | 5 | $2,179,000 | $2,100,000 |
| 216 | FLORIDA HILL RD | 5 | $2,250,000 | $2,062,500 |
| 44 | KING LN | 5 | $2,150,000 | $2,060,000 |
| 225 | SOUTH SALEM RD | 4 | $2,250,000 | $2,050,000 |
| 3 | GOLF CT | 5 | $2,195,000 | $2,025,000 |
| 77 | GOLF LN | 5 | $2,134,750 | $1,985,000 |
| 2 | MAIN ST | 5 | $2,199,000 | $1,975,000 |
| 8 | GOLF CT | 6 | $2,199,000 | $1,962,500 |
| 178 | OLD BRANCHVILLE RD | 5 | $1,969,000 | $1,900,000 |
| 23 | FLAT ROCK DR | 5 | $1,790,000 | $1,840,000 |
| 36 | SAW MILL HILL RD | 3 | $1,950,000 | $1,825,000 |
| 20 | SILVER SPRING LN | 5 | $1,799,000 | $1,799,000 |
| 27 | NOD WEST DR | 4 | $1,875,000 | $1,787,500 |
| 26 | OVERLOOK DR | 5 | $1,895,000 | $1,765,000 |
| 110 | NURSERY RD | 5 | $1,839,000 | $1,728,750 |
| 119 | BRANCHVILLE RD | 4 | $1,775,500 | $1,725,000 |
| 106 | GREAT HILL RD | 0 | $1,950,000 | $1,725,000 |
| 70 | NORRANS RIDGE DR | 5 | $1,799,000 | $1,720,000 |
| 16 | GREAT ROCKS PL | 5 | $1,699,900 | $1,680,000 |
| 20 | BELVEDERE CT | 5 | $1,575,000 | $1,600,000 |
| 7 | ELEVEN LEVELS RD | 4 | $1,690,000 | $1,600,000 |
| 76 | GOVERNOR ST | 4 | $1,599,000 | $1,599,000 |
| 78 | CANTERBURY LN | 4 | $1,685,000 | $1,599,000 |
| 89 | SILVER SPRING LN | 4 | $1,620,000 | $1,585,000 |
| 596 | BARRACK HILL RD | 4 | $1,639,000 | $1,575,000 |
| 214 | WILTON WEST RD | 4 | $1,699,000 | $1,562,500 |
| 97 | OLD WASHINGTON RD | 4 | $1,579,000 | $1,555,000 |
| 38 | SILVER SPRING RD | 5 | $1,599,000 | $1,530,000 |
| 53 | SAW MILL HILL RD | 5 | $1,525,000 | $1,525,000 |
| 16 | KIMBERLY CT | 4 | $1,615,000 | $1,525,000 |
| 61 | BARRY AVE | 5 | $1,545,000 | $1,517,500 |
| 279 | NORTH ST | 5 | $1,579,000 | $1,510,000 |
Related Posts:
- Ridgefield, CT Real Estate Market Report: Home Sales April 2008
- Home Sales Roundup - Ridgefield, Redding and Wilton CT Real Estate - March 2008
- All Luxury Ridgefield, CT Homes Currently for Sale
Get Real Estate Chocolate delivered right to your email.
Search All Homes Currently For Sale - ALWAYS FREE
| Discussion: 1 Comment »
Ridgefield, CT Real Estate Market Report: Home Sales April 2008
April 7th, 2008 categories: Buying Your House, For Agents, Market Data & Statistics, Ridgefield, Selling Your House, Talking Real Estate
Ridgefield Real Estate Market Commentary
March is always a transitional month in Ridgefield. As the spring weather arrives in Connecticut, so do the home buyers. Contrary to the doom and gloom news reports, Brad and I have been working with buyers that are actually making reasonable offers and buying homes. In the past few weeks, several Ridgefield homes went under agreement within days of listing. No doubt that it’s a challenging market but this tells us that the good houses listed at realistic prices have no problems getting sold… quickly. Although buyers maintain a power position in the market, they are making buying decisions and will continue to do so.
Even with the current lull in transaction volume, the Ridgefield real estate market is certainly not on life support. Demand will always remain relatively strong here for several reasons: great schools, affordable homes, proximity to lower Fairfield County, Westchester County and NYC and an overall quality of life that people really, really enjoy. If you already live her, you know what I’m talking about.
Market Stats for Ridgefield CT Real Estate
The numbers say that Ridgefield real estate is still tracking behind last year. Inventories are a little higher (6%) and the number of single family home closings are down by 27% compared to March 2007. Over the next 8 weeks, we’ll see inventory climb (normal for this time of year). We never sell through all of these homes. This spring it will be the owners with realistic expectations that are going to be the most successful. For buyers, this market brings together three major factors in their favor: historically low interest rates, a great selection of homes to choose from and prices that are the most reasonable in recent memory.
We are always available to help you understand what’s going on in today’s real estate market and what it means to you. We know the market numbers better than anyone and always make certain that our clients are armed with the most important market data and the best real estate advice to get the best deal possible. Contact us anytime to talk about your situation.
Related Post:
Get the best of Real Estate Chocolate delivered right to your email.
What could be easier!
| Discussion: 2 Comments »
View Rob's profile
