The Newest National Housing Stats- What You Probably Didn't See

Monthly housing reports always trigger headlines.  And today’s National Association of Realtors Existing-Home Sales Report for November is no exception.  Here are three nuggets of information that might get lost in the media coverage:

1. Median existing home prices are going up: The November national median existing-home price for all housing types is $196,300.  This is $15,700 more than this time last year, and $32,100 more than November, 2011.
2. Homes are selling fast: The median time on the market for all homes was 56 days in November, which is approximately 8 weeks. Last year at this time, the average time on the market was 70 days, approximately 10 weeks.
3. And faster!: Maybe the most important stat was buried in the seventh paragraph.  Get this, 35% of all homes sold within 30 days.  Wow! 

There is clearly demand for homes, but that demand is not being met by supply, since we also learned that inventory, the amount of homes available for sale, is at a 5.1 month supply.  While that might sound like a lot, it is a full month below a traditional balanced market of 6 months.  Therefore, in most locations around the U.S., supply is not meeting demand and therefore sellers are in the driver’s seat equating to higher prices.

One other interesting thing I find fascinating in each NAR report is the use of the term “median.”  Quick!  Are you smarter than a 5^th grader?  What’s the difference between median and average home price?

Median is the exact middle point of all homes sold while the average is the cumulative sales number, divided by the number of sales recorded.

But what does a median home look like?  I thought it would be fun to see and found five Coldwell Banker listings from around the nation that matched the nation’s current median price of $196,000:

• Beautiful ranch style home on three acres in Wakefield, NH
• 4-bedroom 2.5 bath family home in Lake Jackson, TX
• Home with two units – one to live and one to rent – in Prineville, OR
• 4-bedroom 2 bath home in Pooler, GA
• Home with a scenic lake view in Winter Haven, FL

The preceding was an excerpt from a Guest post from Dianne Falaguerra with our partner agency CooperKatz on "Coldwell Banker Blue Matter"

Buying or Selling a Home in Fairfield County?  Contact Judy!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Residential Home Style Reference Guide

Here's a handy pictorial reference guide for the many different styles of homes.

Do you see your home's style here?

Whether you do, or even if you don't,  when it's time to sell, call me. I know the difference  between the many styles, and am highly skilled in how to market your unique home to get the very best price :)

photo courtesy of Realtor magazine

*************************************************************************************************************

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Is Your Fairfield County CT Home a Candidate for a Tear-Down?

You may have heard of a house being referred to as  "a tear down", and thought it meant that a home was so dilapidated that it couldn't be saved, and had to be torn down and/or  rebuilt.

-But that's not necessarily always  the case.  A "tear down" also  refers to a home that for some reason is no longer considered highest and best use of the property.

Appraisers in our area calculate the land value at approximately one third of the value of the improved parcel. Improved means that a house is on it, and has working utilities.

So when do the improvements start to have zero value? In short, it's when the cost of the property and to fix the home that was built on the land exceeds the market value.

Another reason homes are candidates for a tear down would be houses around the "improved" property are so  much larger, or more sophisticated  that the cost of land may even exceed the value of the home on it. Don't balk at that. It happens on a daily basis in Fairfield County, especially in the upper-end market.

If you have noticed that significantly larger homes are being built all around you, it may be time for a value assessment of your property-even if your home is in very nice condition, it may still catch a builders eye.

So if the thought of selling  has crossed your mind, are unsure of how your home might fare to a homebuyer or a builder, it's worth a call to find out. I'll give you an honest assessment. It costs nothing to ask. (203) 257-5892

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

 The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $550,000. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Style, Safety and Resale Among Benefits of a Fenced-in Yard

A fence can add to your home's overall curb appeal, as long as it is stylish and in good condition. In fact, I cannot recall even one instance with any buyer client of mine who disliked a fence so much that they were not willing to move forward with purchasing a home.

Homeowners might consider adding a fence for many reasons. However, “It’s up to the individual and what they’re trying to accomplish,” says Jamie Turrentine, owner of Southwest Fence and Deck in Carrollton, Texas. Here are ways you could benefit from a fenced-in yard.

Pets
Sixty percent of Americans have complaints about their neighbors. Topping that list: their pets.1 A fence gives Fido the freedom to run leash-free, and you won’t have to worry about him roaming into neighbors’ yards or into the street.

Pools
Building a fence around your pool helps safeguard against injuries and accidental drowning. Learn more about pool fences and other important pool barriers.

Security
A fence can be both a boundary and a barrier. It can prevent your child from chasing a stray ball into the street or conceal items such as patio furniture and barbecues from thieves.

Privacy
Install a fence to turn your yard into an extension of your living space. A tall privacy fence allows you to enjoy family gatherings or time to yourself away from the eyes of passersby.

Curb Appeal
A fence can add character and charm to your home’s exterior—as long as it’s not an eyesore. Keep up with maintenance, such as staining, and choose a fence that fits your home’s style.

Resale Value
Investing in a fence could pay off if you ever decide to sell. Many house-hunters enjoy the aesthetics of a fenced-in yard and appreciate the privacy and security it can offer.

Before You Build

    If you’re having a fence installed, verify that the contractor has the appropriate insurance.
    Contact City Hall or your zoning office for local building codes.
    Secure necessary building permits.
    Don’t impede on a neighbor’s property. “Have a survey done so you know your property lines,” Turrentine says.
    Call  your local notification service to locate underground utility lines.
    Discuss your plans with neighbors. “Make sure they know what’s going on and what you’re doing,” Turrentine says. “That’s part of being a good neighbor.”

Article submitted by Brennan Purdy of State Farm Insurance

My vision is to be an insurance professional whose actions are driven by keeping the customer's best interest as my primary goal. My staff will treat all my customers in a caring, friendly, and professional manner. My office will provide warm, efficient, and seamless services to our customers at all times. I expect my business to be comprised of knowledgeable, multiple-line customers who see my office as their first and best choice for all their insurance and financial service needs

For more information on these and other home safety tips, stop by my office or visit www.brennanpurdy.com. My office is conveniently located in downtown Bethel. 203-798-7300.                   211 Greenwood Avenue , Bethel, CT 06801

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

The Featured Home of the Week is at 125 Norton Road in Easton  for $1,290,000. See the virtual tour HERE

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Buy or Sell Your Home With Top Fairfield County CT Realtor Judy Szablak

Looking for a real estate agent with unrivaled  expertise?  Please take a moment to watch Judy's video resume  if you are considering buying or selling in Fairfield County, CT, or share with someone you know who needs a Realtor! 

When you Deserve the Best, You Deserve Judy Szablak!

Areas of expertise include, Westport, Weston, Easton, Norwalk, Fairfield, Southport, Trumbull and surrounding towns.

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like:

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY