Tag Archive for: Ridgefield

Ridgefield’s Holiday Stroll Is Here!

Join us at Neumann Real Estate for the Annual Holiday Stroll on Friday, December 6 from 6-10pm. Stop by, say hi and enjoy some hospitality celebrating you, our wonderful real estate friends and clients!

holiday stroll invite

Happy Thanksgiving from the Ridgefield Turkey Trot!

Thanksgiving is always a great way to kick off the Holidays. I am thankful this year for all the wonderful individuals I have met and continue to serve in the great community of Ridgefield and surrounding Fairfield County. I couldn’t do what I do without you, and I am truly grateful.

I was pleased to once again sponsor this year’s Turkey Trot 5K in support of the wonderful Ridgefield Boys and Girls Club. The event was well attended, raising money for the Club and bringing the Ridgefield community together. The kids race was especially wonderful to witness – so many budding young athletes! And congratulations to the Karla Murtaugh team’s own Jana Williams, our intrepid runner, who braved the 28 degree temperatures and shaved 7 minutes off her previous best time!

Wishing everyone all the best for a healthy and propserous 2014.

Now Open – Ridgefield’s 16th Biennial Festival of Trees

Don’t miss out! The Ridgefield Recreations Center’s Lounsbury House is opening its doors and becoming a veritable Winter Wonderland during the 16th Biennial Festival of Trees held Thursday November 21st though Sunday, November 24th.

The house will feature decorations and a forest of beautiful, creatively decorated Christmas trees, among other holiday surprises. Almost all of the decorations will be available for purchase and a Christmas boutique will feature an array of unique gifts for the holiday season.

Special events during the weekend include a Festival Preview Party on Thursday, Nov. 21, and a Teddy Bear Tea with Mrs. Claus. The preview party will feature refreshments and hors d’ouevres. The Teddy Bear Tea will be at 11 a.m., 1 p.m. and 3 p.m. on Saturday, Nov. 23, and 11 a.m. and 2 p.m. on Sunday, Nov. 24.

The Lounsbury House at the Ridgefield Community Center, 316 Main St., Ridgefield. Thursday, Nov. 21, 7-10 p.m.; Friday, Nov. 22, 10 a.m.-8 p.m.; Saturday, Nov. 23, 10 a.m.-5 p.m.; and Sunday, Nov. 23, 11 a.m.-4 p.m. $10, seniors $5, ages 6-12 $3. Teddy Bear Tea $15, Preview Party $50. 203-438-6962

Information courtesy of ctpost.com

Ridgefield Ranked #1 Town in Connecticut

According to Connecticut Magazine, Ridgefield was again ranked number one for towns with a median home value of over $300,000, edging out Darien, New Canaan, Wilton and even Greenwich to claim the top spot. Minuscule crime rates, world-class public schools and a thriving local economy all contributed to the high ranking.

With a median 2013 sale price of $605,000, and a 2012 high school graduation rate of 98.2%, Ridgefield is a great family town!

For more information, see the full article here.

Ridgefield Market Report : 2013 Mid-Year Review

Local Market Confidence.

The movement in the Ridgefield housing market during the first half of 2013 has given us confidence that property values have stabilized, while unit volume has increased substantially, rising 37% when compared to the same period in 2012. Clearly, we are moving in the right direction. For the month of June alone, unit sales were the highest they have been since June 2005. Equally important, pending sales for May and June are 50% higher than the same period in 2012. We estimate sales will remain strong in the near term and that we should actually see a slight increase in certain price segments.

The Price Factor.

Homes priced under $800,000 continue to outpace 2012 results. The usually strong $800,000-$900,000 category is lagging behind 2012 by over 27%, mainly due to lack of inventory. A common factor across all price points however, is that buyers expect a home to be in “move-in” condition at the time of sale. I can point to numerous examples where turnkey condition homes have translated into shorter days on market and multiple offers.

Inventory Rules.

Supply and demand has become a key topic in today’s market. Inventory is light in certain price segments, therefore making it tough for qualified buyers to purchase a home. Buyers recognize that the time to act is now, and are serious about purchasing. In general, we are experiencing increased sales month after month, and seeing reduced inventories and improved median prices. This presents a good environment for both buyers and sellers.

Download Ridgefield Market Report 2013 Mid-Year Review

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2013/08/130718-Market-Report-V7OL-LTR.pdf

The Christie’s Conference

Last week, Jana and I journeyed to Rockefeller Center in NYC to attend the Christie’s Northeast Conference. Joined by Russ Neumann, we had ample opportunity to learn about the Christie’s Bespoke marketing program; unique advertising avenues for us as Affiliates; how the art market mirrors the real estate market; and what interior design brings to a home.

Along with some fabulous networking, perhaps the most important nugget of information we took away from the day was that the luxury market is slowly gaining ground, and is being particularly influenced by investment from markets such as China and Russia. Armed with new contacts, new information and new resolve, we came back energized and ready to get to work helping put buyers and sellers together in meaningful transactions.

Pictured above are Karla Murtaugh and David Kornmeier of Brown Harris Stevens real estate.

What Rising Mortgage Rates Mean For Buyers

When purchasing a house, a buyer’s chief concern, besides living in the home, is paying for it. Although mortgage rates are at historic lows, the gradual recovery of the economy and an increase in home sales may cause a rise in both rates and home prices. As the economy improves, investors generally stop buying bonds in favor of higher risk investments with greater returns. Because mortgage rates are in direct correlation with bonds, as the economy continues to improve, rates are likely to increase.

In addition, mortgage rates are trending toward their 2009 and 2010 levels. The fact is, a 30-year fixed rate conforming mortgage with 4% interest may become the future equivalent of the previously standard 3.25% mortgage. This new rate, however, is still extraordinarily low. The difference between these rates would amount to around $175 per month on a $417,000 (the threshold for conforming loans) mortgage. In other words, the change in rates would result in a buyer’s purchase affordability, decreasing the loan size by about $40,000.

Among the changes that have occurred in the market recently are that qualifications are stricter, reducing the loan size a borrower can qualify for versus 2003 underwriting guidelines. Including income, credit score, and credit history, etc., approvals are considerably more thorough. Because of these changes, getting into the housing market without pre-approval can create destructive difficulties for buyers. Whereas a rough approximation based on self-reported information had often been sufficient, the new, stricter standards mean that everything must be documented. Even minor differences between one’s hypothetical and official incomes can permanently disrupt closing. Similarly, inconsistent incomes such as bonuses may not be considered in year-to-year income, just as entrepreneurs’ incomes and taxes may not pass the financial litmus test. Essentially, a comprehensive underwritten pre-approval has become de facto mandatory – entering the market without one is foolish.

The sum of this information is that rates have increased ½ point since May 1st and housing prices have risen 8.8% May 2012 – May 2013 and are expected to continue to rise. For consumers, now is the perfect time to buy a home, as both prices and rates are still the lowest they’ve been in decades.

Article written by Richard Duffy

Make Perennials Pop

The exterior of a home is the first impression buyers have. Whether in a magazine, a website, or a tour, it is inescapable that exteriors are among the chief hooks for buyers, and one of the most effective ways to easily add curb appeal is through gardening. Through the addition of perennial beds, mulching, and variety of plantings, any home can receive a great boost in appeal with relatively little expense.

Before beginning your garden, ensure that the soil has good drainage and aeration. Remove any extraneous plants, such as grasses and weeds. Enclosing the space with edging or another visual demarcation not only adds an attractive visual element, but can help to stop the spread of unwanted plants into the garden, as well of mulch out of it. While planting, allow ample time for perennials to become established before their winter dormancy. However, planting can occur during any season, except winter. A layer of mulch is not only good for plants, but provides an additional visual marker for the borders of the garden.

Perennial gardens are not only relatively easy to maintain, their reoccurrence creates year-over-year value. Within your garden, plant taller plants toward the least-accessible part of the space. Gradually plant shorter plants to allow for each element of the garden to be visible, though occasional changes in orientation can provide visual texture.
In addition to varying the size of plants, tasteful variation in color and texture are also effective for increasing curb appeal. By using a continuous but matching palette, variety may be introduced without over-stimulating the viewer. Placed into small clusters, groups of matching plants can act as focal points throughout, thereby disrupting potential monotonies. Interspersing these groups throughout the garden can create a satisfying continuity while maintaining variety. For experienced botanists, a consideration of the approximate blooming times of each plant can be magnificently employed, potentially allowing for a successive series of bloomings throughout the season. Gardens can benefit from basic geometry as well. By planting groups in triangular or scattered spaces, the volumes of plants blend together more effectively.

Throughout the season, be sure to remove weeds as they appear and provide irrigation. Remember that effective set-up can cut down on maintenance later.

Finally, the addition of paths, stones, and other inorganic elements throughout can add additional visual interest without becoming overwhelming. By integrating the aesthetic of the garden and adding these secondary elements, a relatively simple combination of colors and textures can sum to great design and powerful curb appeal.

Article written by Richard Duffy

Fairfield County Schools Are Making The Grade

The most recent ranking by the U.S. News & World Report Best High Schools places many Fairfield County public high schools among the Top 10 schools in Connecticut, with Wilton, Redding, Westport, Weston and Ridgefield – the real estate markets I service – making the cut. This year’s rankings within Connecticut place Weston, 3rd; Ridgefield, 4th; Wilton, 6th; Westport’s Staples High School, 7th; and Redding, 9th.

Although Fairfield County has a reputation for academic excellence, these schools constitute an extraordinary example of high standards. The rankings were assigned based on the level of proficiency in reading and mathematics, as well as the students’ performance on standardized tests and the performance of minority students.

This year’s rankings continue a well-established trend in our county. Ridgefield, for example, has maintained its ranking to within one position for a number of years. Among its 2013 graduating class are over a dozen students headed to Ivy League institutions, as well as a number of students who will matriculate to similarly impressive schools, among them the Massachusetts Institute of Technology, Carnegie Mellon, Johns Hopkins, West Point, and the University of Chicago. Ridgefield has also had major athletic success, with students moving on to Division I sports at universities such as Princeton, Brown, and Columbia.

Ridgefield, though impressive, is not atypical. Our other towns have also performed historically well. Between the bucolic charm of historical Fairfield County and the draw of the excellent schools, our towns are all perfect choices for raising children and living well.

US News & World Report