fairfield real estate: Welcome to the best value in Fairfield - 07/11/08 08:02 AM
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fairfield real estate: Great Condo Alternative in Fairfield - 07/11/08 07:57 AM
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fairfield real estate: Fairfield Homes For Sale Trend - July 2008 - 07/07/08 12:05 AM
Homes for Sale in Fairfield
July 2008
After starting trailing 2007 inventory levels, homes on the market have risen to some historical highs.  The downturn in sales this year has fueled this trend.  This has given buyers many choices to select from.  It also comes with an increase in market time.  The average home is now taking approx 12 months to sell.  This is longer than most sellers want to hear. 
With lots of homes to choose from, low interest rates and declining prices, it appears that the buyers market will be with us for the rest of the year....
 
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fairfield real estate: Fairfield Real Estate and Home Sales Update - June 2008 - 07/06/08 11:30 PM
Fairfield Real Estate and Home Sales Update
June 30, 2008
Here we are at the halfway point for the year.  We still find buyers sitting on the sidelines.....waiting and then waiting some more.  The slowdown on home sales continues with closings off 42% from last year.  Prices are lagging 5-10% behind last year too. 
Hopefully, the second half of the year will see a turnaround.  We have record inventory of homes for sale, interest rates at all time lows and falling prices on homes.  There are some great values on the market.  This should be a good time for buyers to … (0 comments)

fairfield real estate: New Tax Rate for Fairfield - 06/30/08 05:11 AM
Well, the budget season is over.  Fairfield and its neighboring towns have all finalized their financial plans for the next year.  In this part of the country, tax years or budget years for towns run from July 1 to June 30.  So the new budget starts on July 1, 2008.  The new tax rate takes effect then too.
Each year the towns decide how much money needs to be raised from property taxes.  The Board of Finance then sets a new Mil Rate to accomplish this goal.  The Mil Rate is multiplied by the homeowners assessment to calculate the tax bill.  … (0 comments)

fairfield real estate: Fairfield Home Sales Update - May 2008 - 06/09/08 01:09 AM
 
Fairfield Homes Sales Report
With Sales off 42% from last year...that means we have one half the buyers in the market place....anyone who really needs to sell should consider putting their lowers possible price on the listing asap....     Fairfield is on track to sell 450 homes.....this is far below the peak rates of 950-1000 in the late 90's.   Most of the surrounding communities have a similar story....don't wait to drop the price and miss the market......   Average Sales Price and Median Sales Price are both down....
 

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fairfield real estate: Rental Update for Fairfield, CT March 2008 - 04/27/08 03:05 AM
Fairfield Rental Market Update
March 2008
With all the turbulence in the Sales sector, we have been getting asked what is happening with Rentals - so here is a quick update from the first three months of the year.  This market data is for yearly rentals that are unfurnished.  This is the largest segment of the market and should provide the best information on trends.  We included rentals of all types and all numbers of Bedrooms.
Overall, the Rental segment is surprisingly stable.  The units rented for the past three years are relatively consistent.  The Median Rental Price and the Average Rental price seem … (0 comments)

fairfield real estate: Greenfield Hill Update - March 2008 - 04/26/08 10:22 AM
Greenfield Hill Update
March 2008
Greenfield Hill is off to a slow start to 2008 just like the rest of Fairfield and the surrounding region.  Unit Sales are off 32%.  The Median Price came in higher than the Average Selling Price demonstrating the slow demand in the highend property segment.  In fact, the highest sale in Fairfield's Estate neighborhood came in at just over $1.8 million.  You would think that Greenfield Hill buyers are somewhat insulated from the short term ups and downs of our economy.  However, this year it looks like everyone is taking a wait and see approach to buying.
 
 
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fairfield real estate: Fairfield Condo Sales - March 2008 - 04/26/08 09:20 AM
Fairfield Condo Update
March 31, 2008
The Condominium market is not faring any better than Single Family homes.  Unit sales are off 39% from last year.  This is a big decline over the first three months of the year.  Prices are down too.  This is showing that the trend to build Luxury Duplexes may be over - at least as far as consumers are concerned.  The Median Price is down 19% from 2007.  This would seem to be telling us that the slow down in the market is impacting all price ranges from Single Family Homes to lower priced Condos.
 
 
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fairfield real estate: Weston Real Estate Trends - April 2008 - 04/26/08 02:20 AM
Weston Real Estate Trends
April 2008
The trend is clear.  Slower sales in the first three months of 2008 are driving up the inventory of homes for sale. Having 22% more homes on the market is a big jump over last year.  The 175 homes on the market is a higher total than for any month in 2007.  Unless sales trends turnaround soon, there are going to be a lot of disappointed sellers, or should I say Non-Sellers, in 2008!
 
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fairfield real estate: Trumbull Real Estate Trends - 04/26/08 02:11 AM
Trumbull Housing Inventory Trend
April 2008
The numbers are pretty clear.  The slow start to home sales in 2008 has inventory levels moving from 11% below last year to 7% above in just four months.  The number of homes on the market is approaching historical highs.  With this much selection and low interest rates, Buyers should be able to find some great deals.   However, they still seem to be waiting for lower rates and lower prices in the months ahead.
 
 
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fairfield real estate: Weston Home Sales and Real Estate Update - March 2008 - 04/19/08 07:14 AM
Weston Real Estate and Home Value Update
March 30, 2008
Weston Home Values are holding their own and may even be rising.  In this market, that is surprising.  With only 16 homes sold so far this year, reading too much into trends can be dangerous.  With that said, the down trend in units sold is consistent with trends in other neighboring towns.  Weston has always been a great value and great find for buyers looking for land, privacy and a slower pace of life - but close to cosmopolitan Westport and a short train ride to the city that never sleeps - New … (0 comments)

fairfield real estate: Trumbull Real Estate and Home Values - March 2008 Update - 04/19/08 06:46 AM
Trumbull Home Sales and Real Estate Update
March 30, 2008
Trumbull Home Sales have taken it on the chin in the first quarter of 2008.  Sales are off 29% for Jan, Feb and March compared to the same period last year.  This slow down in sales is translating into better prices and better value for buyers.  Trumbull Real Estate has never looked so good to buyers.  With the Median Price down 17% from 2007, buyers are getting better deals than ever.   The only question remaining is when will buyers be returning to the market?  With low prices and low interest rates, we would … (0 comments)

fairfield real estate: Bridgeport Real Estate and Home Sales Update - March 2008 - 04/19/08 06:27 AM
Bridgeport Real Estate and Home Sales Update
March 30,2008
Home Sales in Bridgeport continue to fall.  The number of homes sold is running almost 50% below the total from just two years ago.  There appears to be increasing price pressure on Sellers with both Median Price and Average Sales Price running well below last year.  For buyers, this means there are some great values to be had in the market.  The overall story in Bridgeport remains a positive one but there are some short term budget issues facing the city. 
 
 
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fairfield real estate: The Importance of Location - 04/19/08 05:20 AM
The Five Levels of Location
Location is the most important criteria in valuing Real Estate.  However, there is a priority and weighting to each level.  Each level should be considered in valuing a property.
 •1.     The Town
 •2.     The Neighborhood
 •3.     The Street
 •4.     The location of the Lot on the Street
 •5.     The location of the House on the Lot
  
This explanation was developed by the TETREAU Real Estate Group to assist our clients.
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fairfield real estate: Market Analysis - How to - 04/19/08 04:55 AM
CMA Preparation Guidelines
These guidelines were prepared by the Tetreau Real Estate Group to assist our clients in understanding the steps we go through to develop an accurate market value for their property.
Supporting Documents
•·         CMA Checklist
•·         Five Levels of Location
•·         Salability Checklist
•1.      Review all sales on the street for the past 24 months.
•2.      Review all sales of similar style homes in Neighborhood for past 12-24 months.
•3.      Review all homes for sale, bindered or pending in the Neighborhood.
•4.      For Fairfield, the neighborhood is the surrounding 10-12 streets unless otherwise better defined.
•5.      After location, the next most important feature of a home is the … (0 comments)

fairfield real estate: Fairfield Homes For Sale Trend 2008 - 04/18/08 06:13 AM
Homes for Sale in Fairfield
We can see for the first four months of the year, the inventory of homes for sale is starting to climb.  We saw these numbers drop last year as we sold off the homes that accumulated during 2006.  After a brief drop, we are seeing the number of homes for sale climb again.  The primary cause is the same - lower sales.  The silver lining - this is a great time to buy with some of the lowest interest rates and best variety of homes on the market. 
We will keep tracking these numbers over the next … (0 comments)

fairfield real estate: Fairfield Real Estate and Home Values 2008 - 04/18/08 06:01 AM
Fairfield Real Estate and Home Sales Update
March 30, 2008
Well the first quarter results are in and it is a very slow start to the year.  Unit sales are off 34%.  This is similar to most surrounding towns.  The buyers are sitting on the sidelines waiting for....lower rates, lower prices and some stability.  The NY Region is now being hit with news of large layoffs coming from the financial sector in New York City.   The Fed is expected to lower rates again at their next session.  All in all, it looks like it is going to take a little longer for the … (0 comments)

fairfield real estate: Greens Farms Update - Feb 2008 - 03/30/08 03:53 AM
I thought this would be a longer article especially with the Greens Farms neighborhood in Westport, CT coming off such an exceptionally strong 2007 with 47 homes sold. That't right almost one per week.  Well after two full months of the new year, we have sold exactly ZERO homes. 
This year is starting off to be the slowest in a long, long time.   Our local economy is fine.  The national crisis in the mortgage sector is having an impact just the same.  Stay tuned for more updates...hopefully some homes will sell soon!
PS Some help is on the way, 2 have sold … (0 comments)

fairfield real estate: Fairfield County Sales Update - Feb 2008 - 03/30/08 03:07 AM
Fairfield County Update
February 2008
Most of my blogs have been updates on individual towns.  I thought it might be interesting to see how the entire of County of Fairfield is performing so far this year.  I took a look at overall sales results through the end of February.  This covers all towns but has only partial data for Greenwich, Darien and New Canaan due to overlapping MLS's.
Unit Sales are off 30% from last year.  Well, that pretty much means there is no place to hide.  The year is starting off slow and significantly slower than last year.  Worse, it is slower than … (0 comments)

 
Mike Tetreau, ABR, CRS, GRI,  Sales Vice President (William Raveis Real Estate - Fairfield, CT)

Mike Tetreau

ABR, CRS, GRI, Sales Vice President

Fairfield, CT

More about me…

William Raveis Real Estate - Fairfield, CT

Address: William Raveis Real Estate, 2525 Post Road, Southport, CT, 06890

Office: (203) 255-6841

Mobile: (203) 520-8318

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