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Real Estate Investors Take Notice: Fairfield County Deals Are Here!

Fairfield County real estate investors have been attracted to deals like bees to honey…  and there are some great deals to be had!  Although towns like Ridgefield and Wilton and cities like Danbury, Stamford and Norwalk are not experiencing the level of financial distress seen in some parts of the US (say Florida, California, Nevada, …) , investors here are still making plans to reap profits in the years to come.

I’ve sold a bunch of investment properties this year and I continue to meet new investors ready to take advantage of the turmoil in the real estate market.  And when you find a great bank foreclosure or short sale deal, Yahoo Finance has a terrific real estate investment analyzer that calculates cash flows and IRR’s.  Just plug in your numbers and see your investment will return!

And while were talking about investment property, here are several that are currently listed for sale and could be the NEXT GREAT BUY!   Call me and let me know what your investment criteria are and we’ll work together to get you the best deal out there.  These are just SOME of the bank foreclosures and short sales available today:

TownProperty TypeSquare FeetList PriceComments
DANBURYSingle Family1719$150,000Short Sale
DANBURYCondo1368$150,000Foreclosure
DANBURYCondo898$157,000Short Sale
DANBURYCondo1030$170,000Foreclosure
DANBURYSingle Family1075$178,200Foreclosure
DANBURYMulti Family1714$184,900Foreclosure
DANBURYCondo1385$189,900Short Sale
DANBURYSingle Family1471$214,900Foreclosure
DANBURYMulti Family1820$217,000Short Sale
DANBURYSingle Family1535$239,900Foreclosure
DANBURYMulti Family3537$270,000Short Sale
DANBURYCondo1750$285,000Short Sale
DANBURYSingle Family2133$399,000Short Sale
NORWALKCondo870$199,000Short Sale
NORWALKCondo1170$279,000Short Sale
NORWALKCondo1520$339,000Short Sale
NORWALKSingle Family1688$344,900Short Sale
NORWALKSingle Family1762$499,000Short Sale
NORWALKMulti Family2942$499,900Short Sale
RIDGEFIELDCondo925$148,900Foreclosure
RIDGEFIELDSingle Family1008$199,900Foreclosure
RIDGEFIELDCondo1200$309,900Foreclosure
RIDGEFIELDSingle Family2872$375,000Foreclosure
RIDGEFIELDSingle Family3212$519,000Short Sale
RIDGEFIELDSingle Family3232$829,000Short Sale
STAMFORDCondo633$114,900Foreclosure
STAMFORDCondo663$118,800Foreclosure
STAMFORDCondo738$199,900Short Sale
STAMFORDCondo670$214,900Short Sale
STAMFORDCondo1322$214,950Short Sale
STAMFORDCondo875$219,900Short Sale
STAMFORDCondo1200$220,000Short Sale
STAMFORDSingle Family1262$299,000Short Sale
STAMFORDCondo1220$300,000Short Sale
STAMFORDCondo1600$319,900Short Sale
STAMFORDMulti Family2582$329,900Foreclosure
STAMFORDSingle Family1076$335,000Short Sale
STAMFORDMulti Family1892$369,000Short Sale
STAMFORDSingle Family1800$479,000Short Sale
STAMFORDSingle Family2048$544,900Foreclosure
WILTONSingle Family1482$419,500Foreclosure
WILTONSingle Family4198$1,175,000Short Sale
WILTONSingle Family5246$2,079,000Short Sale

Authored by Rob Gutman | Discussion: No Comments »

What’s Happening with the First Time Homebuyer Credit and How it Helps Everyone in Fairfield County

Jay Papasan tells us the latest on the home buyer tax credit (see his embeded YouTube below).  The stimulus credit is providing incentives for buyers and sellers to participate in the market and it’s having a tremendous effect on activity here in Fairfield County.  Even in towns like Ridgefield and Wilton, the credit is having a marked impact  both directly and indirectly.

Since home values have fallen and mortgage rates are so low, I’m seeing many more 1st time home buyers looking to take advantage in towns that used to be a financial stretch.  Indirectly, the home buyer credit is enabling many trade-up buyers to act since they are now able to get their existing homes sold in a reasonable amount of time.

All in all, the credit is helping all home sellers no matter if you at the “starter home” end of the spectrum or have a 5 bedroom colonial you need to sell.

YouTube Preview Image

Authored by Rob Gutman | Discussion: No Comments »

How to Find Out What the Tax Man Thinks Your Fairfield County House is Worth and Why it Matters

Ridgefield, CT Real Estate TaxesYou’re just a few clicks away from knowing what any house is worth! Whether you’re buying a house, selling a house or just living in your house for the time being, it’s always good to know the local tax assessment. Assessments in Connecticut are updated every 5 years and represent 70% of a homes true market value.

Take Ridgefield for example. In 2007 the Tax Assessor (Al Garzi), worked with a vendor to revalue every property in town. Based on actual sales, they objectively assign a dollar value to each parcel in order to fairly divide up Ridgefield’s tax burden. If a house has recently changed ownership, it is likely that that the new assessment will reflect this transaction price.

When I value a home for sale or purchase, I present my client with 4 different market valuation models based on several factors. The tax assessment is a major input to my valuation model for any individual home. Not only the assessment for that particular house, but the assessments for all the comparable houses that have recently sold and are currently on the market.

Contact me to learn more about how to accurately model the value of any home. Weather you’re buying, selling, or just tracking the value of you current home, it’s important to keep an accurate read on it’s market value.

Online Tax Assessments for Ridgefield, Redding, Wilton and other area towns in Fairfield County

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Authored by Rob Gutman | Discussion: 2 Comments »

Home Sales Roundup – Ridgefield, Redding and Wilton CT Real Estate – November 2009

Closings in November reflect home sales that were negotiated in the prior 30-90 days. Each of these transactions closed during the month. The list includes all of the single family home sales for Ridgefield, Redding and Wilton, Connecticut for the month of November 2009. Contact us with any questions regarding today’s real estate market and how best to benefit from it.  I am always here to help in any way I can.

Street NumberStreet NameTownBedroomsList PriceSale Price
43OLMSTEAD RDREDDING3$334,900$325,000
13STARRS RIDGE RDREDDING3$398,000$398,000
5SIDE CUT RDREDDING4$400,000$450,000
8BALD ROCK RDREDDING3$549,000$520,000
19INDIAN HILL RDREDDING4$750,000$705,000
28WOOD RDREDDING4$795,000$680,000
24BEEHOLM RDREDDING3$825,000$775,000
4JOHN TODD WAYREDDING5$1,035,000$925,000
15CLEARVIEW TERRIDGEFIELD2$309,000$310,000
60LAUREL LNRIDGEFIELD3$344,900$305,000
14BOBBYS CTRIDGEFIELD4$389,000$382,500
86OLD WEST MOUNTAIN RDRIDGEFIELD3$399,000$380,000
167HAVILAND RDRIDGEFIELD4$449,000$440,000
26BUCK HILL RDRIDGEFIELD4$464,900$441,500
23BAYBERRY HILL RDRIDGEFIELD3$469,000$467,000
366WILTON ROAD WESTRIDGEFIELD3$480,000$420,000
105NEW STRIDGEFIELD3$514,900$470,000
24FULLING MILL LNRIDGEFIELD4$525,000$475,000
36RITCH DRRIDGEFIELD3$578,900$601,900
124MOUNTAIN RDRIDGEFIELD3$619,000$595,000
72SAUNDERS LNRIDGEFIELD3$635,000$600,000
1PEACEABLE HILL RDRIDGEFIELD3$659,000$620,000
56CIRCLE DRRIDGEFIELD4$669,000$650,000
39BRIAR RIDGE RDRIDGEFIELD4$695,000$645,000
36ACORN PLRIDGEFIELD3$698,000$650,000
42MIMOSA CIRRIDGEFIELD5$750,000$665,000
110RAMAPOO RDRIDGEFIELD4$877,000$852,000
346OLD BRANCHVILLE RDRIDGEFIELD4$1,135,000$1,000,000
10LISA LNRIDGEFIELD5$1,299,000$1,150,000
346STURGES RIDGE RDWILTON3$579,000$555,000
21GRUMMAN AVEWILTON4$669,000$645,000
139GRUMMAN HILL RDWILTON4$692,000$670,000
264HURLBUTT (AKA HYLAND RD) STWILTON4$699,000$636,500
21FULLIN LNWILTON3$725,000$685,000
31CLOVER DRWILTON4$759,000$692,500
46GLEN HILL RDWILTON5$839,000$790,000
9RICHDALE DRWILTON4$1,249,000$1,150,000

Authored by Rob Gutman | Discussion: 2 Comments »

How Talking Sidewalks Can Teach You the History of Ridgefield, CT

Ridgefield CT 300th AnniversaryImagine strolling down Main Street and learning all the local history along the way. With Ridgefield’s Museum in the Streets, it’s as if the sidewalks are telling you the storied past of each historical building, landmark and monument in town. As part of Ridgefield’s 300th Anniversary celebration, the Museum in the Streets program has been installed all along the downtown sidewalks for all to enjoy.

Residents, visitors, day-trippers and school kids have been enjoying the displays that arrived last month. Numbering over 30 in all, these markers offer a glimpse into Ridgefield’s first 300 years. They are full of old pictures, stories and facts that have led to the present-day New England town as we know it.

You’ll find “Museum Markers” at Ballard Park, Town Hall, The Library and more that provide pedestrians with colorful descriptions of “what happened here”. It’s also a great way to spend time together with your kids.

Walk through town and look for the markers. Take a little extra time to enjoy Ridgefield’s Museum in the Streets.

The Museum in the Streets heritage discovery trails can also be found in these US and French towns.

Ridgefield CT 300th Anniversary

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Authored by Rob Gutman | Discussion: 4 Comments »

What Everybody Ought to Know About Their Credit and FICO Score

Ridgefield Real Estate - FICO BOOKWe’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.

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Authored by Rob Gutman | Discussion: 4 Comments »

How You Can Profit From Getting Rid of Your Junk

Ridgefield Real EstateYou’ve decided to sell, you’re moving or you just need to clear some junk out of your house. Living in Ridgefield, I can tell you how to do it quickly, easily and profitably. I help all of my real estate clients clean-out their homes and ready them for sale. Here’s 4 ways to make it easy and profitable. I love this stuff so CALL ME to help you with any of this! 203-313-0414

Craigslist – I use craigslist to sell mostly oversized or bulky items that are tough to ship. Price items to sell quickly, not to make a huge profit and they’ll be gone in a day or 2. Remember, your primary goal is to rid your house of all the stuff you no longer need or use. When moving last year, I sold a sleeper sofa, several old dressers, bikes and more on Craigslist. And the best part is, people show up, pay you and take your stuff away…. easy money!

Freecycle – Free/Recycle… “Freecycle”. It’s a national network of freecyclers with a growing local presence. I’ve been hearing more about Freecycle lately but haven’t yet tried it myself. The idea is if you’ve got something that’s still within it’s useful life but you need to get rid of it, say an old Laz-y-Boy, a washer/dryer or garden tools, there’s someone out there that will take it for their own use. This gets it out of your house and keeps it out of the landfill; very environmentally friendly. Although you get no cash for your stuff, you get it removed for free.

eBay – I use eBay mostly for things of relatively high value that are easy to ship. I’ve sold used mp3 players, cell phones, cameras and more on eBay with little effort and much success. You can set your own price or run an auction. Either way it helps you clear out your attic or basement of old video cameras, telescopes, toys, shoes, clothes and more.

Goodwill – Donate items at Goodwill. Goodwill Industries has convenient drop-off locations throughout the area and can even be called on to pick up furniture and other large items. Here’s a reliable way to donate items and they’ll also give you a receipt for your taxes.

The Dump – When all else fails, take it to the local transfer station. For a fee, you can drop most anything. The trouble is you do all the work and then pay for the privilege of filling a landfill with your old couch. This is usually my last option but they are always ready to take whatever I’m getting rid of.

Remember, I am always available to help you use any of these websites. Together we can get your house de-cluttered and put some cash in your pocket!

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Authored by Rob Gutman | Discussion: 3 Comments »

Home Sales Roundup – Ridgefield, Redding and Wilton CT Real Estate – October 2009

Closings in October reflect home sales that were negotiated in the prior 30-90 days. Each of these transactions closed during the month. The list includes all of the single family home sales for Ridgefield, Redding and Wilton, Connecticut for the month of JOctober 2009. Contact us with any questions regarding today’s real estate market and how best to benefit from it. I am always here to help in any way we can.

Street NumberStreet NameTownBedroomsList PriceSale Price
173PICKETTS RIDGE RDREDDING4$340,000$332,000
72OLD STAGECOACH RDREDDING4$399,777$452,024
20DEACON ABBOTT RDREDDING4$405,000$402,500
573REDDING RDREDDING3$539,000$530,000
7SULLIVAN DRREDDING4$550,000$525,000
280BLACK ROCK TPKEREDDING4$1,159,000$995,000
252BENNETTS FARM RDRIDGEFIELD3$239,900$239,000
350BENNETTS FARM RDRIDGEFIELD3$335,000$297,050
10ISLAND HILL AVERIDGEFIELD3$399,900$385,000
340BARRACK HILL RDRIDGEFIELD4$488,876$447,500
34MADELINE DRRIDGEFIELD3$499,900$479,500
45TACKORA TRLRIDGEFIELD3$539,900$495,000
15DOWLING DRRIDGEFIELD3$599,900$430,000
27SARAH BISHOP RDRIDGEFIELD4$639,900$617,000
35MARSHALL RDRIDGEFIELD5$668,800$640,000
12EVERGREEN PLRIDGEFIELD4$699,000$659,500
266BRANCHVILLE RDRIDGEFIELD3$722,900$722,000
13CASA TORCH LNRIDGEFIELD4$739,000$718,000
10MCKEON PLRIDGEFIELD4$749,000$715,000
131NEW RDRIDGEFIELD4$1,029,000$980,000
14RED OAK LNRIDGEFIELD5$1,239,000$1,175,000
20AARONS CTRIDGEFIELD4$1,249,000$1,155,000
10KEELER CTRIDGEFIELD4$1,299,000$1,185,000
11TURTLE RIDGE CTRIDGEFIELD5$1,399,000$1,225,000
8KEELER CTRIDGEFIELD5$1,475,000$1,230,000
217OLD BRANCHVILLE RDRIDGEFIELD6$2,475,000$2,200,000
24ROLLING RIDGE RDWILTON3$424,000$395,000
134RIDGEFIELD RDWILTON4$549,000$509,000
7MAYAPPLE RDWILTON4$634,000$585,000
254NEW CANAAN RDWILTON4$699,000$671,000
411OLMSTEAD HILL RDWILTON5$719,000$670,000
31WEEBURN LNWILTON4$799,900$750,000
33SEIR HILL RDWILTON5$988,000$991,000
281STURGES RIDGE RDWILTON4$1,195,000$1,100,000
269STURGES RIDGE RDWILTON5$1,695,000$1,500,000
21WOLFPIT LNWILTON5$1,699,000$1,625,000
6HUNTING RIDGE LNWILTON5$2,399,000$2,100,000
7SPRUCE MEADOW CTWILTON6$3,190,000$2,860,000

Authored by Rob Gutman | Discussion: No Comments »

Ridgefield Connecticut Quiz Bowl – 20th Century History Test

Ridgefield 300th AnniversaryWe’re not all just real estate and stats here at Real Estate Chocolate.. we love Ridgefield history too! Ridgefield is one of the most historic towns in Connecticut. Here are some events chronicled by Jack Sanders on his wonderful Timeline website. Test yourself and see how many dates you can identify from Ridgefield’s 20th century. Find the answers are here.

Ridgefield CT 20th Century Quiz

In June, Ridgefield High School on East Ridge closes and in September, the new Ridgefield High School on North Salem Road opens.
a) 1964
b) 1978
c) 1972

Great Pond beach formally opens in June. More than 1,200 people are counted on the beach one hot Sunday.
a) 1937
b) 1954
c) 1969

The Ridgefield Library and Historical Association is chartered and begins building a new library.
a) 1936
b) 1901
c) 1919

Ridgefield’s population reaches 3,118.
a) 1910
b) 1945
c) 1962

After a four-day strike in April, the painters’ union agrees to a wage of $7 for eight hours of work. Painters had been getting $6 for seven hours.
a) 1922
b) 1935
c) 1960

A League of Women Voters survey finds the most common reason for not shopping in Ridgefield is “not enough choice,” followed by “prices” and “parking.” Danbury is the most popular shopping destination.
a) 1957
b) 1984
c) 1992

The Girolmetti family receives approval in February to build a 16-lane bowling alley on Danbury Road; the Ridge Bowl opens Nov. 9.
a) 1970
b) 1964
c) 1951

The last passenger train from Branchville arrives at Ridgefield station (now a Ridgefield Supply Company warehouse) on Aug. 8. The service, begun in 1870, is no longer profitable.
a) 1925
b) 1952
c) 1964

Click here for the Answers.

Learn more about 21st century Ridgefield by reading Real Estate Chocolate. We are always available to answer your Ridgefield questions and to provide the best real estate advice. Call anytime at 203-313-0414.

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Authored by Rob Gutman | Discussion: 1 Comment »

How Real Estate is Like Fishing. Warning: This Strategy WILL SELL Your Fairfield County House

Real Estate is Like FishingNo matter what you’re hearing, area homes ARE selling. Not like iced tea on a hot summer day, but homeowners that need to sell are getting the job done. I just checked the MLS and here’s the proof: 140 area homes have taken a deposit or have a signed contract. These are all recent real estate deals that have been negotiated and/or contracted but not yet closed. That’s 140 houses!

Home sellers are asking me “how can I be the next one?” If you really want to sell, then let’s talk about a pricing strategy that works. You see, selling real estate is kind like fishing. You can have the best gear, the best bait and even be in the best fishing spot. However, if the fish are 30 feet down and you only let out 10 feet of line, you can fish all day and still have nothing for dinner! Let out 10 more feet, not a bite. 10 more feet and then you’ll be eating fillets for a week!

If you’ve got a great house and your realtor has a proven marketing system and you’re still not seeing satisfactory activity or offers (i.e. no bites), then your bait’s not low enough. Your not fishing where the fish actually are. It’s time to let out more line. And then keep letting it out until you hook your buyer.

The Home Sales Strategy That Will Sell Your House!

First, realize that today there are many more houses for sale than buyers to buy them. Not what you were hoping for but the good news is that if you’re buying something on the other end, then you’ll be benefiting from this situation too! The sooner you “get to 30 feet”, the faster you will hook a buyer and you will actually sell for a higher price than if you stayed at 10 feet for too long. Price your house as competitively as possible. Then for every 2 weeks without an acceptable offer, drop your price by $10,000 – $20,000. Today’s buyers make decisions based on value. That’s it. A periodic price adjustment strategy will get your house sold. Guaranteed!

Northern Fairfield County Real Estate IS selling and at ALL price levels:

Bethel. . . . . 14 transactions currently in process between $314,000 and $549,900
Brookfield . 20 transactions currently in process between $290,000 and $990,000
Danbury . . 45 transactions currently in process between $180,000 and $1,600,000
Newtown . .20 transactions currently in process between $175,000 and $1,199,999
Redding . . . .9 transactions currently in process between $190000 and $1,750,000
Ridgefield. . 19 transactions currently in process between $375,000 and $3,500,000
Wilton . . . . .12 transactions currently in process between $390,000 and $2,399,000

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Authored by Rob Gutman | Discussion: No Comments »

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