Karla Murtaugh Brokers $5.2 Million Deal For Sugar Hill Estate

Sugar Hill is an extraordinary property, fully befitting its rare provenance. Located only an hour from Manhattan, the sale of the ivy-laced Georgian manse was brokered by Karla Murtaugh at Neumann Real Estate, an exclusive Affiliate of Christie’s International Real Estate, and is the highest grossing sale since 2008. Murtaugh noted that there was multiple interest in the property resulting in the $5.2-million transaction.

Beautifully sited on 46.3 acres, Sugar Hill was constructed in 1939 by the esteemed firm of Noël and Miller (best known for the design of the Whitney Museum of American Art) and stands today as a symbol of a great American past meeting the hope and promise of a new generation. This classic, understated yet elegant seven-bedroom manor features an array of amenities including a grand indoor pool with full service changing rooms, an outdoor pool and cabana, a lighted tennis court, sprawling manicured lawns, and a greenhouse and potting shed for the garden enthusiast. A two-bedroom, two-bath guest house is the perfect complement to the classic manor along with a large detached garage for the car enthusiast, adding 6 additional heated garage spaces, for a total of 11 bays.

“Sugar Hill is an iconic property that exemplifies the ultimate country lifestyle” says Murtaugh. ”The exceptional Georgian architecture, perfect proportions, park-like, private setting and fabulous amenities it offers, make it the perfect full-time residence or weekend getaway from NYC.”

The home’s pedigree is beyond compare. The original owner, Wadsworth R. Lewis, was the son of Frederic E. Lewis a railroad tycoon and president of the Adams Express Company. The Lewis Fund continues to enrich the community through local Ridgefield charities such as the local library, the Boys and Girls Club, and Meals on Wheels.

From 1946-1966, the residence was home to Henry Luce an American magazine magnate and publisher of the Time, Inc. magazine empire, including titles such as Life, Sports Illustrated, and Fortune, and his wife, Clare Boothe Luce, Connecticut’s first elected Congresswoman and the first woman to be appointed to an ambassadorship by the then President Dwight David Eisenhower. Adding to her success, Clare, the playwright, proved a pioneer of the new feminist movement with her successful 1936’s smash satire, The Women.

The Sugar Hill estate was purchased in 1966 by Austrian-born Hans P. Kraus, the most celebrated book dealer & collector of this century. Among his vast collection at Sugar Hill was a Gutenberg Bible, a copy of the Declaration of Independence, and a first printing of the U.S. Constitution. He was a major contributor to the U.S. Library of Congress including the historic Kraus Collection of Sir Francis Drake.

In 1993, Basha Szymanska, a successful Wilhelmina fashion model and clothing designer discovered Sugar Hill while traveling through Ridgefield with her then husband and investment banker Perry J. Lewis.  Basha started her fashion career in New York City where she was originally spotted by Oscar de la Renta at age 19. After 3o years in New York City, the transition to Sugar Hill was an easy one for Basha.  Having immigrated from Poland in 1950, Basha never lost her love of country living and discovered living in Ridgefield one of her greatest joys. Over the years, Basha acquired adjoining properties, eventually expanding the estate to over 63 acres and always working to preserve the historic legacy of this great manor.

Today, natural light floods this decades-old residence through a multitude of French doors accenting the grand 12-foot walls, moldings, and wide hardwood floors. The newly renovated professional kitchen blends the old with the new and boasts modern appliances and a large teakwood prep area for full-scale entertaining. The spacious dining room adjoins a lush conservatory that is the perfect setting for mid-season dining or overflow seating, and the grand living room, with spectacular views of the property, accommodates a grand piano with ample room for relaxing or entertaining guests. The great library, adjoins a small study with a fireplace for quiet evenings and conversation. There are 10 fireplaces throughout the estate, several located in the bedrooms including one in the master bedroom with its oversized deck and views of the western sunset.  Completing the second floor is a media room, and employee /staff wing with plenty of accommodation including a second laundry and a complete caretaker’s apartment.

Murtaugh also commented on the special nature of the town of Ridgefield with its cultural icons such as the Prospector Movie Theater, Ridgefield Playhouse and ACT of CT, impressive restaurants, boutique shopping and philanthropic activism. It also ranks the safest small town in America and is voted the number one town in Connecticut year after year by CT Magazine.

Giving Thanks

It is with truly heartfelt thanks that we enter this Holiday Season. For many it will be very different from the festivities of years’ past.

Gatherings will be smaller, and family and friends will be “zoomed” in from all corners of the globe. We humans have proved we are nothing if not resilient during these unprecedented times!

Enjoy the calmness that this year will bring, with time to look back on the people in our lives who enrich us every day. Start new traditions and reach out virtually to that person you’ve been meaning to reconnect with, but are always too busy to sit down with.

And even more importantly, remember those who are far less fortunate than ourselves – those who have suffered job loss and furloughs. Celebrate the remarkable health care providers who have been on the front lines during this pandemic and continue to risk so much. Give where you can and celebrate the joy that comes from it.

If nothing else, 2020 has proved that our homes are truly our safe haven. We are honored to have assisted so many buyers and sellers this year as they begin their next chapter.

Although this Thanksgiving may look different, the spirit is the same – give thanks and enjoy one another!

Supporting the “Virtual” Turkey Trot at Boys and Girls Club Ridgefield

Karla Murtaugh Homes is once again proud to sponsor the Boys & Girls Club Ridgefield Annual Turkey Trot
It wouldn’t be Thanksgiving in Ridgefield without it and we hope you will join us VIRTUALLY this year! For almost 40 years, the Boys & Girls Club’s Turkey Trot has been an annual tradition for so many – it truly wouldn’t feel like Ridgefield without the Turkey Trot, and although a virtual format will be much different, it will still allow us to hold this beloved Ridgefield event!

As you know, the rapid spread of COVID-19 has led to uncertain times for families in our community. BGCR has cancelled all other major fundraisers to support the public health crisis, all while continuing to serve the youth in our community. The Turkey Trot and the financial support it creates for the Club has never been more important, in fact, the impact will be greater than ever. We know it won’t be the same, but by moving the Turkey Trot to a Virtual Format you can run anywhere you choose, (literally anywhere in the world you are celebrating Thanksgiving!), within the time frame, as long as it equals 5k (3.1 miles)! All Turkey Trotters will be able to race and record their registration time from Saturday, November 21st at 8am through Thanksgiving evening, Thursday, November 26th at Noon 12pm.

This year, all funds raised will immediately provide services for the most vulnerable children in our town. Children in crisis, without family guidance, with disrupted home lives, in foster care, and suffering economic hardship, all of which has been intensified due to COVID-19. With your annual support of the Turkey Trot, you help to ensure that their needs do not go unmet. We understand that the virtual format is not for everyone, but we hope you will still consider supporting the Club by donating the amount of your entry fee, or perhaps even a little bit more given the necessity of the Club’s services this year. Thank you in advance for your support, this has been an incredibly tough year financially for the Club, and we truly couldn’t do it without our Club community.

We hope to “see” some of you virtually at the 39th Annual Turkey Trot – and if not, we look forward to a huge 40th Annual Turkey Trot celebration in 2021!

TT Link: https://runsignup.com/Race/Register/?raceId=102066

Ridgefield Posts Record Sales In Q3 2020

Q3 2020 Rises Beyond Expectations

After Covid-19 took the wind out of our sails in March and April, the Ridgefield real estate market has rebounded with enthusiasm posting record sales that far outweigh 2019. Year-to-date, a total of 358 homes have sold so far this year, outpacing 2019 by 39% and the total sales volume stands 55% higher than 2019 at $280,255,426 vs $180,307,075.

In Q3 specifically, we have seen 201 sales vs 108 in Q3 2019. Additionally, our total sales volume in Q3 2020 posted a 108% gain over the same timeframe in 2019 registering $160,858,383 in sales. Sales in Q3 reflect deposits taken from May to August in most cases.

Our days on market and months of inventory are also lower than in 2019, which is concerning given the number of buyers still looking to move to our area. There are currently only 117 homes on the market, which corresponds to 3 months of available inventory.

Luxury Sales Are Strong

Sales are up in all price points with strong gains in the over $1 million category.  In 2019, there were 37 homes that sold for over $1-million by this time, while there have been 79 year-to-date in 2020. The trend continues when looking at Luxury Homes sales in particular (over $1.5-million) where there have been 25 recorded sales as opposed to only 12 in 2019. There are also 13 additional luxury properties currently under agreement and set to close in Q4 2020.

Prices Are Up

The average sales price was up 12 percent year over year and in Q3 2020.  Year-to-date it sits at $782,836, and in Q3 it was $800,290.  The median sales price was up 11 percent in Q3 sitting at $720,000 compared to $650,000 and 6 percent in the year-to-date with 2019 registering a median value of $635,000 and 2020 $673,750. We have seen a good number of homes selling at or above their listed sale price in a short amount of time. Homes that are updated and priced properly are often in receipt of multiple bids.

Fairfield County Snapshot  

We are experiencing increases in sales and property values throughout Fairfield County with the number of sales increasing 17 percent, median sales price up 12 percent, and total dollar volume up a record 40 percent since 2019. Darien, Greenwich and Westport saw the largest gains in the number of sales and values.

Looking Ahead

We wish we had a crystal ball to have a clearer vision for the market going forward, but with the election, Covid-19 and job security all looming as issues in Q4 and beyond, we are somewhat uncertain what the future holds. Interest rates are holding at historic lows, and we are also seeing more cash transactions in the upper segment of $1-million purchases. One thing we can say is that inventory is low and there are many buyers looking to purchase. If we can continue to list homes, the market will continue to grow. So, if you have been reevaluating your lifestyle and think that making a move would be good for you, now is the time! We offer a complimentary market analysis and would be happy to provide you with a concrete analysis of what your home is worth.  For buyers, our expertise in negotiating in a strong seller’s market means you will get unparalleled representation in a competitive marketplace. Contact us today at 203-856-5534 or karla@karlamurtaugh.com

 

Sell Time – Buying and Selling a Home in the Pandemic

Our fabulous clients recently bought, sold and renovated their new home during the pandemic! Ridgefield Magazine wanted to know how they did it.  For a link to the complete online article, click here.

 

Ridgefield May Real Estate Market Report

As we began Phase 1 of our reopening here in CT, we were able to lift a number of restrictions, which had made it quite challenging to service Real Estate. We are now able to engage photographers and videographers, stagers and marketing specialists to reopen the market and increase inventory. We have changed the way we do things, and making sure everyone is safe is our top priority.

With that being said, the real estate market in Ridgefield is definitely beginning to open up. We are experiencing more foot traffic in terms of buyer tours. There have been some multiple offers qisutaions, but we have not yet seen an appreciable rise in prices We have seen a number of homes take deposits and there is strong interest from both local and out of state buyers. We can feel the momentum increasing as the “spring” market gets into full swing.

Personally, we want to thank all our buyers and sellers who weathered this storm with us, and rest assured we are doing all we can to ensure a safe and smooth transaction for you.

Ridgefield High School Ranked #516 Nationally

U.S. News & World report released its 2020 Best High Schools Rankings and once again, Ridgefield High School shines on the national stage taking the #516 spot nationally and the #9 position in Connecticut.  The ranking report compares 24,000 public, charter, magnet and STEM schools from around the country.

The Best High Schools rankings identify the country’s top-performing public high schools. and the goal is to provide a clear, unbiased picture of how well public schools serve all of their students – from the highest to lowest achieving – in preparing them to demonstrate proficiency in basic skills as well as readiness for college-level work.

U.S. News does not collect nor accept information directly from high schools. Instead, it uses Common Core data, statewide math and reading level assessment tests, high school graduation rates, AP examination data and IB examination data to rate schools from 1-100 by percentile. Ridgefield High School has a percentile rating 97.1, meaning only 2.9 percent of the nation’s schools ranked higher. The methodology for ranking was based on the following parameters: college readiness (30%); college curriculum breadth (10%); reading and math proficiency (20%); reading and math performance (20%); underserved student performance (10%); and graduation rate (10%).

Congratulations to all the Ridgefield teachers and administrators who work hard year after year to create such a wonderful education system for our children. In this time of online learning and multiple challenges, we know you will face them head-on and strive to maintain the best environment possible.

Connecticut Realtors Launch Home Safe Home Campaign

Covid-19 has definitely created a pause for all of us and made us take a hard look at ourselves and how we live. Living rooms and kitchen islands are now classrooms, dining rooms are offices and bedrooms are a place to get away for a little bit of solace and quiet at the end of unusually hectic days. Now more than ever, many are realizing the importance of having a home that truly meets their needs. And for some, real estate plans cannot be put on hold, even in these trying times.

As such, Connecticut Realtors®, WTNH News 8, and iHeartMedia are teaming up for the Home Safe Home campaign – a reminder that Connecticut Realtors are still here, working for the residents of our state, with your safety in mind. ​Karla Murtaugh Homes is no exception.

Utilizing all the technology available to us we are here to help people achieve their housing dreams. For buyers, video, floorplans, limited in-person showings or tours via FaceTime or Zoom are available to give you a better idea of what homes are currently on the market. For sellers, all documentation can be done remotely via electronic transaction management and document collection from public sources, to listing creation and putting the property live where potential buyers are looking on social media, consumer search platforms such as Zillow and Realtor.com and more. From listing to closing, most of the Real Estate process can be done virtually to give our clients a safe and secure experience. ​

We like to think of ourselves as more than just Realtors. We’re your neighbors and your friends, and we’re on the frontlines working to give everyone the security of having a place to call Home Safe Home. Check out the campaign video below and contact Karla Murtaugh Homes if you need help relocating, selling or want know how the market is doing.

How Real Estate Is Changing During COVID-19

While deemed an ‘essential service’ in some states and not others, the reality is that Real Estate has had to find a way to adapt during this unprecedented time. The need for housing doesn’t stop just because a virus says it should and many people are finding themselves in a predicament where they have to enlist the help of Realtors, attorneys, mortgage brokers, home inspectors and others in order to buy or sell a house during this time. With a little creativity, Realtors and others have found ways to practice social distancing and limit the spread of Coronavirus, even while servicing their clients.

Communicating With An Agent
When it comes to buying a home, pairing up with the right agent is always key to finding your perfect property. But today, you need one who is tech-savvy and comfortable conducting meetings and business online. We are using Zoom for group consultations, online interviews, meetings and CMAs that would normally handled in person. FaceTime, text and good old-fashioned phone calls are also part of our daily communication. And although we’ve been using e-signature apps to send and receive documents digitally through email for a while now, it’s never been more important than in today’s world.

Virtual Home Tours & Online Sites
Crowded open houses with a plate of cookies for everyone to grab are a thing of the past — at least for now. Instead, everything is going online and there are several ways to virtually tour a home. Along with photos, many listings were already starting to incorporate videos or providing “hot spot” tours so you can tour the home, room by room, without physically stepping onto the property. In addition, many agents have posted floorplans, improvements and significantly more photos online to give buyers a better feel for the home. If in-person showings are allowed – as they are in Connecticut – the rules are stringent and agents, home sellers, and buyers must all be willing to make them happen. Given the risk, and if its absolutely necessary, it’s important a buyer have a good idea of what the property offers before even attempting to schedule an in-person showing.

Remote Mortgage Pre-Approval
Some lenders had already made the entire mortgage process digital long before social distancing was needed. And now, many more have jumped on board out of necessity. The first step is to get a recommendation, or interview a few loan officers over the phone or by video chat. Since mortgage interest rates are all over the map these days, it’s extremely important to shop around and compare what they’re offering — and make sure they’re comfortable conducting all steps of the transaction online. In order to get pre-approved for a loan, the lender will need to review your income, debt, credit history, and other factors, and you’ll need to submit paperwork verifying all of the above. Luckily, most of this paperwork should be available online.

Remote Home Inspections
We recently did a deal where the inspector offered the client a remote inspection. He inspected the house alone and reviewed the findings with them via a videoconference. At a remote home inspection, inspectors take a lot more pictures than they might have in the past so clients can get a good idea of where the issues are. Once the report is completed, the client participates in a video call to review every part of the report – just like an inspector would normally do in person.

Virtual Home Appraisals
Although we haven’t encountered this yet, home appraisals required by a lender are getting a virtual makeover. Appraisers are viewing the home via video or are participating in ‘desktop appraising,’ where they review available public and private data in order to value the home, including comparable property data, and produce a report. While these methods may not be to the penny in terms of value, they are relatively accurate and allow lenders to continue operating.

Remote Home Closings
In-person home closings — where all parties come together to sign contracts, swap keys, and shake hands—are, for the most part, not happening right now. However, most closings require some face-to-face interaction, since people have to sign documents and notaries need to stamp them in person. If the situation continues to develop, instead of buyers and sellers being in separate rooms and practicing social distancing with their attorneys as they do now, you may find “drive-through” closings happen or even secure video-conference closings depending on governmental regulations and oversight.

Adapted from a Realtor.com article Is It Safe To House Hunt During The Coronavirus Crisis? written by Margaret Heindenry