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Real Estate Market Outlook

WHAT do your manners have to do with selling your home? More than you’d imagine! Based on the decades of buyers and sellers I’ve met, witnessed and helped buy or sell a home here in Greenwich, I’ve seen several home sellers self-sabotage a potential sale by letting emotion or behavior get the best of them. They can sometimes lose a sale in the process.

With the right attitude and consideration for the emotional pulls and tugs a home sale can evoke, you can anticipate many of these concerns and plan how to address them before they happen. This saves you and your team potential heartache, time and money. And there are plenty of proactive considerations that show a prospective buyer you appreciate their time and interest in your house. Here are some tips to attract buyers in Greenwich, CT.

  1. Show your home—and yourself—in the best possible light.

Don’t waste people’s time by putting your home on the market before it’s truly ready to shine.

Has your realtor or a trusted friend said, “It would really help if you repainted the living room/removed half of the furniture in the bedroom/cleaned out the basement/put in some shrubs around the foundation”?

And maybe you’ve decided these fixes aren’t necessary? If so, be prepared that a prospective buyer’s feedback may sound like this: “The paint in the living room really needs a refresh/the bedrooms seem really small/it’s hard to get a sense of the basement because it’s so full.” No one is going to say “I told you so,” but…they told you so.

You’ll find more warm-weather clean-up tips here.

2. Encourage free speech and set expectations for post visit feedback and follow up

Let your realtor know BEFORE showings start what you expect for post-showing follow up. Many sellers report feeling frustrated and disappointed when they ask their realtor how a showing went only to hear “Great!”

Assure your realtor that you want all of the feedback—good and bad—and that he or she should encourage prospective buyers to give their honest assessment of your home.

Talk to your realtor in advance about what you’d like them to ask potential buyers to solicit the feedback you most want. Do you want to hear the negatives along with the positives? Can you set emotion aside so you can hear the feedback which will give you the best chance to sell quickly and at the price point you want?

And to avoid post-visit let down, ask your realtor now what happens after a prospective buyer visits? I’ve had clients say they want to know which focal points of the home most impressed and which negatives where beyond their control (location, lot size, school district, property taxes). How and how often does your realtor follow up and what else can be done to encourage the buyer? Ask now, so you’re not tossing in bed at 2 am wondering if this visitor is “the one,” and if your realtor is doing enough to follow up.

3. Be Ready to Leave the Premises

Sure, you’re dying to know if prospective buyers will love what you’ve done with the kitchen, but you, the seller, need to leave during an open house or showing.

It’s hard for a potential buyer to see themselves in your home if you are there. It’s not easy to leave but this will happen often during the selling process. Have a few places in mind where you can quickly escape to—like a friend or family member who will let you into their house when they aren’t there, a book store or local coffee shop. Consider having a go bag with a book or some work you need to do to take the sting out of having to leave your home on short notice.

4. Let the dog out.

See above and add the dog park, or any pet friendly stores and spaces to your “go to list” if you have a pet. Someone with allergies, who isn’t into dogs or cats (they do exist) may conjure up negative associations when they see a pet—is the house really clean? Will it smell like wet dog in here when it’s humid or rains? If your dog stays and barks throughout the visit, the prospective buyer may rush the tour. Remove those concerns by taking the dog with you.

5. Park here.

As a consideration to your guest, leave ample and obvious parking for the buyer and the realtor. Let the realtor know ahead of time where to park.

6. Encourage buyers to take pictures and ask questions.

Some sellers are uncomfortable with prospective buyers taking pics of their home. Pictures are crucial to a buyer considering multiple properties; so tell your realtor to encourage prospective buyers to snap away. It’s also fine for you to request that those photos don’t go up on social media. Make it even easier for your visitors to fall in love with your home by leaving out some pictures that you’ve taken over the years that showcase the beauty and uniqueness of your home through the seasons. Updates, additions and renovations that have been documented can be left in a photo album for visitors. Put out documentation of the practically brand new refrigerator and stove that you plan to leave.

7. It’s true. Freshly made cookies don’t hurt.

Making prospective buyers feel welcome does make an impact. It encourages someone to linger, to envision themselves in the home. Engage ALL of the senses to make the experience complete.

Have a question about the ups and downs of the current real estate market? Wondering what your home is worth? Or are you thinking about buying or selling your home before winter? Give me a call! I’m always happy to chat. And sign up for my newsletter, won’t you? I share Greenwich real estate updates monthly.

Note: The beautiful and sophisticated home featured in the image above is 15 Mountain Laurel Drive here in Greenwich. Just bring your toothbrush because it’s move-in-ready home. Learn more here. Open house on Sunday, October 6 from 1pm – 4pm.

Winter brings out the nesting instinct. So once you can move away from your fireplace and hot chocolate – what house projects are you up for? Are you itching for some sledgehammer action a la Chip Gaines of Fixer Upper? Or is a complete style and color overhaul of one room calling your inner weekend warrior?

The best home improvements give you a feeling of accomplishment and increase the value of your home. Here are a few worthy of the pain, suffering and pennies that will likely deliver a resale return here in Greenwich, CT.

Add a Bathroom

Add a bathroom, add value. Every real estate listing starts with these two key stats: how many bedrooms and BATHROOMS. Little known secret to family harmony: one bathroom per teenager and spouse. It may seem excessive—until you’re the one desperately waiting to get in.

You can indulge your home improvement spirit animal and take on the job yourself, but it’s a good idea to talk with a contractor about your home’s layout and the best spot to add another bathroom. For a few hundred well-spent dollars, a contractor or designer can help you create a plan and avoid heinous pitfalls. Even a half bath added to the mudroom or off the kitchen adds resale dollars and keeps dinner guests from having to wander your home in order to find and use the facilities.

Return on investment: High

Update a Bathroom

Did you do a kitchen makeover recently? Your bathrooms are jealous. Lose the early aughts (or older!) décor and enhance your home’s market value. Functionality options for bathrooms are endless today and you’ll be amazed what you can accomplish in even the smallest spaces. Browse on HGTV.com, Houzz.com, or any of the big box home stores websites. Regardless of your budget or style, you’ll find endless bathroom cabinet, shower & tub options.

Return on investment: High

Get Rid of Rugs and Consider Hardwood, Laminates or Tile Flooring 

Modern flooring options offer great benefits: they are easier to clean, they don’t hold on to dust and dirt the way carpet does, and it’s a proven way to reduce allergens in the home. A definite plus for buyers and another update worth the investment.

Return on investment: High

Not up to those big changes but itching to start some renovations to get your house on the market? Consider these:

  • Paint the front door;
  • Install crown molding (try it in a bathroom and see how you like the results);
  • Consider implementing some tech: auto shades, charging stations, tv mounts, HVAC updates;
  • Clean out the linen closet and/or master closet and install better shelving.

I’m getting ready for spring too with new houses coming on the Greenwich market. Stay tuned! And do follow me on Facebook or Instagram.

Happy New Year! Is this the year? Are you excited to put your house on the market? Whether you’re selling your dream home to downsize, swapping a starter home for a family home, or making a lateral move to get into the GREAT Greenwich neighborhood you’ve always wanted to be in, I’d like to be the realtor to help you sell your house fast in 2019.

Here are five steps we need to take together. Of course, each of these breaks down into multiple steps – and I can help you map it out. Read on…

  1. Plan – Selling a house takes planning on your part and planning on my part too. The sooner you link up with a knowledgeable and trustworthy realtor, the better support you’ll have to identify and complete the necessary tasks. You’ll need to find the right lawyer, home inspector, mover and maybe even a home stager (more on this in future articles). You’ll need to understand what goes into setting a realistic “sell-by” date. There’s more than a few things to sort out, but we’ll do it together to make it as easy as possible.
  2. Repair/Replace/Upgrade – I can’t help you unless you can trust me. And that’s not going to be easy when on our second or third “date” I’m going to come into your home and critique it from top to bottom. I’ll assess all the unique and wonderfully special aspects of your house; but I’ll also give you constructive feedback on the work that needs to be done to make your home sell. Are you dying to replace that kitchen countertop as well as the pasta pot dented sink? Nope. But it’s my job to let you know that a beautiful stone counter with a new stainless steel or ceramic sink will help your house to sell in weeks instead of months. A moderate kitchen upgrade is one of the best tweaks you can make that speaks directly to potential buyers. It says: “We’ll be hanging out in here with wine and cheese.” I’ll point out simple fixes too – a new coat of paint on the front door is magic! Replace the outdated lamp shades on your sconces and see a dramatic light change. I’ve seen hundreds of small and large improvements ranging in price from $10 – $10,000 and I’m going to share all of the tips and tricks I’ve learned.
  3. On-Point Price Point – Because I’ve been a full-time realtor and broker for 15 years and have toured and sold hundreds of homes, I know what people are looking for and what they’re willing to pay to get it. I know the market, the economy, and Greenwich. Your home is unique and PERFECT for the right person. It’s my job to find that person. I do an in-depth market analysis that takes all of this into consideration and then give you recommended
  4. Clean and De-Clutter – Once you’ve repaired and replaced, it’s deep cleaning time. Do it yourself? Sure, if that’s the kind of thing that makes you jump out of bed with joy. Otherwise, hire someone to do a deep cleaning (Need recommendations? Just let me know). Then you need to keep it clean while it’s on the market. This is another point where trust will be important and why you should choose carefully when you select a realtor. Because it’s going to be my job to point out any problem areas in your home that relate to cleanliness and clutter. Yes, there is a funky smell in the downstairs carpet. No, you can’t leave your collection of 74 antique tea cups and saucers on display in the kitchen while we show your home. I don’t love this part, but I’ve said this before in a previous article – you may not always like what I have to say, but I’ll always be honest with you especially when it can impact our combined goal of selling your home for the best price.
  5. Stage it – When we open that front door for the very first prospective buyers, your house needs to scream THIS IS YOUR DREAM HOME. The last 15 years of reality television have made many of us aware of “staging.” Staging is a blossoming industry with national accreditation programs and partnerships with high-end furniture lines for experienced stagers. Staging is an added expense, but stagers remove (some or all) of your own furniture and décor and bring in items to create an atmosphere that has been shown to reduce the time required to sell a house by as much as 50 percent. It’s an added expense, but depending on the state of your interior design can be worth every penny spent. There are certain tricks to this – great lighting, ample space, clean windows. I’ll work with you on this, and can recommend excellent staging companies in our area.

Get a jump on this list. Let’s talk ASAP if you want to put your house on the market now or in the spring. Let’s start off 2019 off with a bang!

Many of my current listings showcase beautiful mature landscaping and carefully tended gardens that are breathtaking in the spring and summer. Here in Fairfield County, when we make that transition from summer to fall, we are fortunate to experience spectacular fall foliage. But once the trees are bare, there’s really no way to avoid the fact that everything green is ready for hibernation. So, if you’re selling your home, consider some easy greenery to clear the air and add beauty.

Houseplants help fill the “green void” of late/fall/winter/early spring and keep the air in your home clean, even helping those in your household with allergies. There’s so much you can do inside to still reap the benefits of plants even when the weather outside is, well, frightful. Plus, potential buyers that tour your home will notice that a home filled with well-tended plants doesn’t have that closed-in stale air “scent” that sometimes lingers when we can’t open the windows for months at a time.

These houseplants are easy to grow and can generally withstand erratic watering, uneven or bad light and fluctuating temperatures. They’ll thrive in kitchens, home offices and sometimes even dismal corners.

1.     Spider plants (Epipremnum pinnatum ‘aureum’)

2.     Snake plant and Mother-in-law’s tongue (Sansevieria trifasciata and S. trifasciata laurentii)

3.     Golden pothos vine (Chlorophytum)

4.     Dracaena floor plant

5.     Succulents and cacti

Even the plant-killers among us can have success and reap the benefits of indoor plants. How many months till spring?

If you’d like to look at a few of my listings with beautiful yards…click here.

The home seller/realtor relationship is a crucial element of my business. If we don’t trust each other, feel comfortable in each other’s presence—if you look at your phone and see that it’s me calling and you DON’T want to answer or if you look at your phone and wonder why I haven’t called to update you —I’m not doing my job well.

Good, consistent communication prevents issues before they start. So I start new home seller relationships with a promise—consistent communication, strong market analysis, and my honest assessment and advice.

It’s that last part – honest assessment and advice – that might lead you to disagree with my recommendations and maybe even get annoyed. I always treat my customers with respect, but it would be a disservice to tell them white lies that can delay or prevent the sale of their home—the outcome we both want.

So here are the five times during the house selling process that you might not like me:

  1. My price recommendation when the house is put on the market. I study the real estate market very carefully. I look forward to monthly real estate market reports the way other people look forward to Golf Digest. I understand the realities and trends of the market and work to offer my sellers the best possible price point.
  2. Clutter eats equity. Remove half of the stuff in your house to make it look open and inviting.
    Yes, it’s painful to figure out where to temporarily remove your collection of antique teapots or the stacks of bestseller balanced up against the study walls. It’s annoying to have to rent a storage unit to store your great-great-grandmother’s Victorian furniture (which is stacked in a guest room). The visual clutter has go. There is nothing potential buyers like more than the ability to picture themselves in the space they are going to buy with their own stuff.
  3. When I tell you your home is a unique property… expect it to take a longer than normal to sell. See above. I’m speaking from decades of experience. Certain properties take longer to sell. If your home includes a bowling alley, a medieval turret, a large workshop, pond or other unique feature, then you are searching for a buyer who is willing to pay for that element. So sometimes, it takes longer to find that person.
  4. Your bathroom, landscaping, flooring or paint needs an upgrade before you put it on the market. You want top dollar for your home. That’s what I want for you too. I’m going to be very realistic with you about what number will get your house sold in the timeframe you need. And, I’m also going to tell you what you need to do to your home we can go from listing to selling ASAP. An upgrade – not a complete renovation – can really make a huge difference. Yes, it costs money to replace counter tops and enhance landscaping – but you’ll sell your house faster and most probably get a higher price point.
  5. Hire a professional cleaner. I’m not insulting your home cleaning routine. People are busy. Selling a home is stressful. But you need to know that an immaculate home sells more quickly. Hire someone to give your home a deep clean. Plus, it’s relaxing to live in a really clean house, which will help with that stress.

Do you hate me already? Hope not! If you are the kind of home owner who likes honest assessment and clear communication, and you’re looking to sell your home in Greenwich or internationally, I very well may be the realtor for you. Learn more about me here.  And if you are on Facebook or Instagram, please follow me there.

I’m going to write about drones here…now, don’t be afraid: drones are for good, not evil, when it comes to real estate. And one of the most intriguing developments in my business over the past few years has been the introduction of drone photography.

In August 2016, the Federal Aviation Administration loosened restrictions on the use of drones. Drone pilots don’t need an FAA pilot’s license, just a remote pilot certificate. So drones are now approved for limited commercial use.

Drone photography adds value. You’ve probably seen them used at live events or on websites that showcase a hotel or resort. Drone photographs and videos are a fantastic way to really see a property and the surrounding area.

Top Benefits of Using Drones to Sell Your Home:

1.    Prospective buyers can see the entire lot, the house next door, and even the entire neighborhood. (Drone photography is used well here – makes you want to move into this gorgeous Greenwich home, doesn’t it?)

2.    Drone footage is especially useful for large, unique properties that don’t photograph well from the ground.

3.    Since drone photography and videos are more engaging, people are more likely to spend longer looking at your property. (And, social media LOVES video.)

4.    Drone footage can span the beautiful landscape and convey the spectacular view from the deck—really giving the viewer a sense of a home’s personality.

5.    Show off Greenwich and Fairfield County, CT. Drone footage shows out-of-town potential buyers how unique and stunning our area truly is, which is a selling feature that can sometimes be difficult to articulate.

What are your thoughts?

2017 was certainly a year of surprises. The real estate market was certainly a welcome surprise – it was hot!

During 2017, over 90% of the luxury sales in Connecticut were in Fairfield County. That’s good news, indeed, for home sellers in Greenwich. Let’s see what else conspired in real estate over the course of 2017:

  • The median sale price for a single family home in Greenwich was $1,869,790 – that’s the highest median since 2008!
  • June was the busiest month with 80 homes sold. Slowest month? February and April were the slowest months with only 31 and 30 homes sold.
  • When we compare Greenwich home sales back to the darkest days of the recession, we can see how the economy has been (albeit slowly) recuperating. In 2009, only 333 homes sold; in 2017, 572 homes sold (static when compared to last year).

This Forbes article provides a 2018 outlook. What do you think? Are you a realtor hoping for another banner year?

If you like to dive into numbers, click here to view a compilation of 2017 statistics pulled from the Greenwich Multiple Listing Service.

And let me know if you’d like to go look at beautiful houses in Greenwich

Every December, there’s a recap of what we loved in the past year and what’s expected to captivate us in the year ahead. In addition to the year’s best books, movies and podcasts, there’s something a little closer to home that we look at here at Charles Paternina Properties each year—the design trends that will quicken the heart rate of house hunters.

Embracing design trends can help distinguish your home from others on the market. It’s not just all about having the latest and greatest; some home trends decrease required maintenance, encourage energy conservation, and better accommodate our digital lives.

While it’s fun to check out the latest trends, the ultimate decision to make a major change should hinge on your needs and budget.

Freestanding tubs. Freestanding tubs may conjure images of Victorian-era opulence, but the newest models come in many shapes and sizes. These tubs complement other bathroom trends including open wall niches and water-saving commodes. (Check out the stand-alone tub in this fabulous Greenwich bathroom.)

Alexa! Prices have come down for technologies such as web-controlled security cameras and motion sensors for pets. Newer models are also easier to install and operate since many are powered by batteries, rather than requiring an electrician to rewire an entire house. Software allows multiple smart devices within the home to communicate with each other. And the biggest tech movement is the digital assistant—Alexa, Google Home, and more. And, yes, these technologies also present challenges, such as security issues. Nonetheless, the trend continues.

Charging stations. With the size of electronic devices shrinking and the proliferation of Wi-Fi, demand for large desks and separate home offices has waned. Home owners still need a dedicated space for charging and storing, and the most popular locations are a corner of a kitchen, entrance from the garage, and the mud room. Before long we’ll start to see even more creative integrations for our digital devices.

Specialized Storage. The new buzzword is specialized storage placed right where it’s needed. Homeowners want everything to have its place. More people are increasingly willing to pare the dimensions of a second or third bedroom in order to gain a larger walk-in closet in their master bedroom. In a kitchen, it may mean a “super pantry”—a super-sized butler’s pantry with prep space, open storage, secondary appliances, and even a room for wrapping gifts. More storage is all about minimizing clutter and as we all know… clutter eats equity.

Be sure to check back with us: we’ll update you on all of the new trends in real estate in Greenwich throughout 2018! And in the meantime, follow me on Facebook and Instagram.

Since the holidays tend to be a slower time for real estate, I thought I’d offer up holiday activities here in Greenwich and around us. We are fortunate to live in an area that is so rich with holiday spirit and traditions. The challenge is to pick the experiences that are the most meaningful and important for you and your family. Here are a few favorites that add joy to the season.

Great for children and anyone who needs a little holiday spirit.

Greenwich Reindeer Festival and Santa’s Village
Now through December 23. You can visit and feed Santa’s reindeer and visit with Santa! Sam Bridge Nursery & Greenhouses, 437 North Street, Greenwich, CT. More information.

The Nutcraker
Saturday December 9th at 3:00pm; Sunday December 10th at 1:00pm and 2:30pm

For many, the holiday season is not complete without seeing The Nutcracker ballet. This show is performed by dancers from The Ballet School of Stamford at Chelsea Piers and will be hosted by Broadway actor Frank Mastrone. Held at The Loft at Chelsea Piers in Stamford. $15 All ticket sales proceeds benefit the Ballet School of Stamford Foundation

The Christmas Elf

Two shows daily on Saturday and Sunday from now through Dec. 28. This children’s theater production will showcase the wide-eyed wonder of the holidays through the story of one special Christmas Elf. The Held at the Downtown Cabaret Theater in Bridgeport, this 90-minute show is a perfect way to enjoy time with the special young people in your life. Tickets $19-$23.

For the holiday traditionalist.

Handel’s Messiah
December 9 at 8:00 p.m. Celebrate the season with memorable and inspiring music from Handel’s Messiah.  Hear it in its acoustical glory at the Basilica of St. John the Evangelist at 279 Atlantic Street in Stamford. Lost of parking! Guest conductor is Ted Sperling. Featuring Master Voices chorus. Tickets start at $25. Basilica of St. John the Evangelist

Volunteer or Donate

Neighbor to Neighbor – a non-profit near and dear to my heart – serves residents in need throughout the Greenwich area. Whether you and your coworkers want to do a volunteer project this month or you’d like to provide gifts for a family’s holidays, Neighbor to Neighbor will make it happen. “We improve lives by providing for the exchange of food, clothing and basic living essentials in an atmosphere of kindness and respect,” says Executive Director Nancy Coughlin.

Please do let me know if you would like to buy, sell or rent a home in Greenwich or anywhere in the world. I’m available during the holidays – and promise to lend a festive flair to our work together. You can review Greenwich properties on my website: http://www.charlespaternina.com./

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