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Real Estate Market Outlook

This may not be the summer you want to sell your Greenwich home, but most homeowners know that summer is the time to show your home some TLC and put in some home maintenance hours. Kept in good repair, what is likely your most significant asset will maintain its value over time and it’s your best defense against unexpected (and often expensive) house hassles that can eat up your fun time. When you are ready to sell, you can rest easy knowing that your home has been properly maintained—one of the best ways to achieve a swift sale at the right price.

How do you assess the importance and potential return of trading some sand, sunshine and smoothie time for home maintenance? And how do you fit in all in? Here are some real estate tips to set priorities and goals.

  1. Lawn, landscaping and garden. Whether you pull the weeds and plant the flowers yourself or farm it out to a teenager or hire a service, weekly attention to your lawn and seasonal attention to your landscaping are unavoidable. This is a passion area for many, so spending time and money on landscaping, such as fountains, raised gardening beds, vegetable gardens, flower gardens can become a focal point of your summer. What’s the value proposition? Research shows that money invested in landscaping shows a strong ROI. Focus on efforts that enhance “curb appeal.” Necessary: Weekly lawn maintenance and a onceover of your overall landscaping. Optional: Gardening, advanced landscaping
  2. Pressure Washing the House. I categorize this as necessary.  For a quick and eye popping spruce up, give your home a pressure wash. This inexpensive service can help to spruce up the dirtiest of homes by effectively removing built-up dirt, sediment and other debris while eliminating things like mold, mildew and algae, which can result in long-term wear and tear on a home. There are two ways to do it: hire it out or do it yourself. Pressure washers can be rented or purchased.  If you’re a fan of washing your car at home, you’ll likely enjoy owning a pressure washer and will suddenly find all kinds of things that need a solid cleaning. Fortunately, pressure washing is easy enough to hire out as well, so if this is not something you want to do you don’t have to. Necessary: Pressure wash the outside of your home annually. Optional: Purchase a commercial grade pressure washer and washing everything and anything you can shake the wand at.
  3. Cleaning the windows – interior AND exterior. If you’re starting to sense a theme here……cleanliness matters. Anything you do that cleans or de-clutters your home is a win for home value. Again, the glorious news is that this does NOT have to be a DIY project. And if you have to use a ladder to access most of your windows, the best way to avoid injury is to hire a pro. Many homeowners have made the mistake of underestimating the skill required for a high-quality squeegeeing, and been dismayed to find streaks marring their window panes after a long and tiring day’s work. Ideally, windows should be cleaned 3 times per year. Necessary: Cleaning the interior and exterior of your windows. Optional: Doing it yourself.
  4. Pool Maintenance. Pools are one of the most controversial home elements when it comes to the “return on investment” equation. Many realtors and home owners will tell you a pool is nothing but a liability and one that requires expensive regular maintenance. However, on a 90 degree summer afternoon, you’ll be hard pressed to find a kid or adult who wouldn’t love to enjoy a beautiful backyard pool. (Check out the pool at one of my newest listings here in Greenwich, CT.) Pool maintenance typically includes clearing debris, water analysis, monitoring and balancing water chemistry, brushing and vacuuming and installing backwash filters as needed.  Necessary: Pool maintenance is unavoidable, but can be hired out. Optional: Doing it yourself. Think carefully before committing to a pool.

Summer is an opportunity to display your home at it’s very best. The vibrant green of a well-kept lawn, the beckoning of outdoor spaces for rest and reflection and cooking on the grill. What’s not to love? Of course, here are a few, ahem, “concerns” to address before that for sale sign hits the front lawn. Make sure your home looks “purchase perfect” by acknowledging some of these troublesome items that could derail an open house or turn off a prospective buyer.

  1. Water drainage: We’ve had a rainy spring in the northeastern part of the country and with the ground in many places fully saturated, even homes that have never experienced the problems of excess water are now wondering if they are susceptible to potential damage. Sometimes it’s a nearby home or property with water run-off that has the potential to impact your own home.To assure a dry basement and yard, it’s worth consulting a professional to assess your risk before putting your home on the market. There are many products that can be discreetly installed and effectively keep water at bay such as grates and catch basins, channel drains and trenches, standard drains and water discharge emitters. Residential ResQ is one example of a company that can assess your risk and recommend preventive measures as well as solutions to any existing problems.Even the front yard and walkway contain plenty of options to create functional water drainage on your property. Check with a local expert.
  2. Critter control: Fortunately here in the Northeast, we don’t often have problems with snakes and other creepy crawlers that are prevalent in other parts of the US. (If you’re brave, watch this video of a snake at someone’s front door. Ugh.) Unfortunately, we’re not completely rodent and insect free, especially in the summer! When your home is inspected and treated for hornet nests, seasonal bugs, mice, ticks, carpenter bees and termites, it’s guaranteed insurance against any unexpected guests showing up at your open house or home showing. Plus, paperwork that proves you’ve maintained a pest control protocol tells the buyer that your home’s welfare is top notch no matter the season.
  3. Bird house fan or foe? Bird houses – Many people love birdhouses; others don’t care for birdhouses and the mess they can create without regular cleaning. To some, it’s a real turn off. Plus, dirty feeders can also have an odor, which can attract unwanted pests, such as wasps, raccoons, rats, and other visitors that will damage or destroy the feeder. Google “birdhouse maintenance” for tips to keep your birdhouses clean and attractive. A tiny detail, but something that can stand out in the summer and easily turn off an eager buyer.
  4. Creepy Lawn Ornaments: Everyone has a lawn ornament memory they just can’t shake. Whether it’s a positive memory of a wagon planter that you and your siblings sat on for a picture every summer or the neighbor’s creepy gargoyle that gave you nightmares, lawn planters and ornaments have much more staying power than expected. Do a careful walk through of your property, maybe even ask a friend to weigh in—is there anything on your lawn or deck that needs to go ? If you’d like for me to take a walk through your home to dole out advice for YOUR “purchase perfect” home this summer, give me a call: (203) 550 6082. Or send me an email.

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!

Your home is on the market. And it’s the holidays. How should you decorate? Should you decorate at all? Some real estate agents and home staging professionals advocate no decorations during the holidays, as to not offend those who don’t celebrate a specific holiday. Others say definitely decorate—a festive house may sell faster.

We recommend an approach that celebrates the season but doesn’t exclude.

  1. Front door and entryway. There are endless ways to dress up the doorstep, door and entryway. Ideas run the gamut, but when your house is on the market, subtle sells!
  2. Use greenery. Use nature-inspired green to enhance a room with subtle décor. Think of winter elements.
  3. Use garland to highlight a specific feature. A curvy stairway or other area can become dramatic feature when highlighted with garland.
  4. Set a festive table. If your home includes a formal dining area, set the table for a celebratory dinner. I beautifully laid table encourages buyers to imagine their own family and friend gatherings in this space.
  5. Holiday goodies may make buyers linger. The time-honored real estate tradition of using the scent (and offer) of freshly baked cookies to encourage visitors to check out the kitchen one more time, gets kicked up a few notches in December. Offer up some holiday treats to visitors. Filled candy bowls and cookies will be a welcome surprise and may make buyers want to linger.

And do please let me know if you’d like to go look at houses in December – or if you’d like to put your house on the market. I’d love to help. Look at listings here. I’d especially like for you to look at this charming home at 63 Wildwood in Greenwich. And Happy Holidays!

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’ve helped hundreds of people over the years to buy their dream homes. Over and over again, I share these tips with my clients here in Greenwich CT and internationally. Some of these tips are common sense, others may be new to you.

So here we go, my top ten tips for buying a home!

  1. Location. Location. Location. It’s an oldie but a goodie. You’re not going to change where your house sits – so make sure it’s what you want and WHERE you want. Is it near the schools that your children go to? Is it close to friends and family (if you want to be close to friends and family ;>). Is it not too close to a busy road or nestled in the community you want to be in?
  2. The orientation of the house. I’ve written an entire article on this topic – it’s something I never get tired of stressing to home buyers. If light is important to you, you should buy a home that faces south or southwest. This is where all your light will come from.
  3. Flow. How you move between rooms in your home is important – and not easy to change barring major construction. Think about how the rooms relate to each other.
  4. Does the price make sense? Buying a home can be a very emotional process. And choose the right home can be overwhelming AND exciting. How do you judge if the price makes sense? You might feel that you really want the home, no matter the price. What I like to do with all my clients is a comparative market analysis to make sure what they’re asking – and what you’re offering – is on target. I help clients to navigate the impulse and emotion of home buying.
  5. Is the home peaceful? A home that is relaxing and serene is so important for most of us. Life is stressful and busy – our homes should be comforting and peaceful. And peaceful doesn’t mean you have to live in a silent vacuum. It means that it is comfortable and soothing for you and your family. For example, a train might go by in the evening. You might love the sound of a distant train. Others might not.
  6. Go for the best possible kitchen. Sure, you can buy and then remodel your kitchen: people do it all the time, either immediately or down the road. A kitchen remodel is a significant expense. So search for your dream kitchen in your ideal location and get it right right away.
  7. Dream master suite. When buying a home, make sure the master bedroom and bathroom meet your needs. Like the kitchen, a master suite renovation is an investment. And where does it sit? At the front of the house or at the back? Next to the kitchen or upstairs away from all the other rooms? You’re best off finding your dream home with the right master suite and kitchen (a la tip 6). NOTE: Sometimes location (tip 1) trumps many of the other criteria. Don’t worry, I’ll help you work through all this.
  8. Hire a good inspector. Yes, the seller has the home inspected – but that inspector is working for the home owner. Hire a good inspector who you know is representing your needs. I can recommend several good inspectors here in Greenwich.
  9. No home is perfect. No matter your budget, your dream home will have a quirk or two. Honestly: It’s okay not to be perfect. Don’t let those little imperfections deter you if the house is meeting all your other criteria.
  10. Make sure you have an outstanding real estate agent and a lawyer representing your needs. 

Follow me on Facebook and Instagram. I’m always sharing gorgeous home in Greenwich and internationally and tips for buying and selling. And you can contact me here.

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?

It’s hard to believe but Airbnb launched in 2008 (where DOES the time go?). This tech “start-up” allows home owners to rent out their houses, or even just a room, through a secure e-commerce platform that is currently valued at over $30 billion (about the same as Marriott International). It’s no trend – home sharing is here to stay.

While many home owners were initially leery of Airbnb (“What! Allow strangers to stay in my house? Sometimes when I’m still there?”) and some potential renters (“What! Stay in a stranger’s home and not a hotel?), there’s a long history that points to the likelihood of cultural acceptance for this seemingly radical idea. In fact, here in Greenwich CT there are plenty of homes listed on Airbnb.

As a realtor, I see some distinct benefits that Airbnb has to offer homeowners, especially when they are getting ready to buy or sell. Here’s what I see:

Airbnb is the commercial systemization of a long standing practice.
Does your family have a mountain retreat or a beach condo in Florida that you’ve lent or rented to a co-worker’s son and his family? Have you ever stayed with friends of friends when you unexpectedly had to travel to Chicago or Atlanta? If yes, then you’ve participated in the social contract that makes Airbnb possible and profitable. While the concept seems radical to many, there’s an attractive model here—with built-in safety protocols—that allow great hosts and travelers to enjoy a more personal experience.

Considering a drastic life change or move? Try it out first with Airbnb.
Are you intrigued by the idea of a second home, downsizing or maybe even checking out a tiny house? Have you thought about a move to the heart of the city? Or are you convinced that life would be better if you lived in Greenwich and worked from home or commuted into the city? Before you completely uproot your life and family, test your assumptions. It’s one of the least understood benefits of Airbnb—the ability to try on a different physical address to help you learn what you’re really looking for in your next house. Experiment by renting a home in Greenwich or a farmhouse in the Berkshires of Massachusetts for a few days and learn if the locale brightens your day.

Rent out your home on Airbnb and find out if it’s market-ready.

One of the features that creates trust within the Airbnb community is the reviews and member profiles. Going through the exercise of searching similar rentals in your area, writing a description of what your home offers and even welcoming guests can provide a treasure trove of information. From rave reviews to discovering potential pitfalls (maybe you really do need to update the kitchen before selling), you’ll gather information that has the potential to make selling your house if not a snap, then certainly easier. Of utmost importance when deciding to list your house on Airbnb: Check with your insurance company. Make sure your regular insurance covers this kind of income related activity.

Did you find these tips helpful? You can read all my articles about home buying and selling on my blog. If you want to look at the gorgeous homes that I represent in Greenwich and internationally, click here.

 

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

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