Tag Archive for: Selling

Newsweek Ranks Ridgefield High School No. 151 Nationally

The fourth best public high school in Connecticut and the 151st best public high school in the entire country.

Those were the honors Newsweek bestowed on Ridgefield High School Thursday morning when it released its annual America’s Top High Schools list for 2016.

The Tigers finished with a college readiness score of 80.6 and a graduation rate of 98.2%, with 90.1% of Ridgefield students heading to college after receiving their diplomas in June.

Some of the other information that Newsweek posted in its ranking for Ridgefield High School includes:

  • Student Retention: 99%
  • SAT/ACT Composite Score: 58.5
  • Avg. SAT Score: 1724
  • Avg. ACT Score: 26
  • AP/IB/Dual Enrollment Composite: 78.1
  • Avg. AP Score: 91.2
  • Dual Enrollment Participation: 4.5

RHS finished behind Weston High School (No. 39), Wilton High School (No. 56), and Avon High School (No. 116) in the state rankings.

Below the Tigers on the list of Connecticut schools were East Lyme High School (No. 224), Haddam-Killingworth High School (No. 277), and Farmington High School (No. 286).

The list included 500 national public high school scattered across America. A total of 16 Connecticut schools made the list.

Last year, Weston cracked Newsweek’s top 100 at No. 47 and Staples High School in Westport finished No. 63.

Fast forward to 2016, and Staples did not make it onto the top 500 list.

According to the Newsweek list, Thomas Jefferson High School for Science and Technology in Virginia is the top public high school in the country.

Rounding out the top five are: the Academy for Math, Science and Engineering in New Jersey, Stuyvesant High School in New York, Union County Magnet High School in New Jersey, and The Early College at Guilford in North Carolina.

See the total list of the Best High Schools In America or read about how the ranking was determined in the full Newsweek Report.

Source: The Ridgefield Press

Gray Is The New “It” Color

Gray walls are becoming the modern, neutral choice for interior spaces as painting experts sum up the trend by saying “gray is the new beige.”

But you need to find the right gray for your home.

“Although the color gray is commonly associated with cooler, cloudy days, there are both ‘cool grays’ and ‘warm grays,’” the paint company Sherwin Williams explains. “Cool grays have more blue undertones, while warm grays are grounded in yellow and brown – similar to ‘greige,’ a combination of gray and beige.”

To find the right gray, painting experts suggest looking at the flooring, cabinetry, lighting, and wood trim in the home. The undertone of such interior elements should match the undertone of the gray home owners opt for in their home. For example, brushed nickel often pairs better with cooler gray paint colors. Brick and gold, on the other hand, tend to pair better with warmer undertones, such as beige.

Gray can also be used to add dimension into a home’s space, Sherwin Williams suggests. For example, for more impact, paint the ceiling gray too, but make it a shade two or three lighter than the wall color. The painted ceiling can give a smaller room a more spacious feel. For high ceilings in a large room, select a darker gray paint to make the space feel more cozy.

“Whether you choose gray on the walls or on the ceilings, it offers a crisper, cleaner look than beige,” the paint company notes. “And because gray paint is offered with many different undertones, it can either be the most neutral hue possible or give dramatic dimension — another great reason to add it to your palette.”

Source: Realtor.com

Ridgefield Market Report : Mid Year Review 2016

Holding Steady

Coming off a mild winter, we were anticipating a better than average Spring Market and unit sales were actually up 9% over the same period last year. While the median sales price remained somewhat flat, the average price for a single family home experienced a 4.3% increase.

News of GE moving its headquarters out of nearby Fairfield, CT was disappointing, but has not had a negative effect on the property values here in Ridgefield. Fairfield County continues to be one of the most desirable regions in the tri-state area to live, and Ridgefield in particular continues to offer great value with the award-winning schools, vibrant downtown, numerous cultural destinations, strong community presence, beautiful landscapes, amazing quality of life and a reputation as of being one of the safest towns in the US.

Supply and demand will continue to drive the market. Most of our growth occurred in the under $1 million segment, but we did experience a small increase in units sold in the upper segments as well. We saw more demand in the $600,000- $800,000 segment outpacing the inventory available during the spring market. At the same time, inventory grew in the luxury segment, where demand was not as high. It remains a buyers market, which keeps raising the bar in terms of expectations. Buyers respond favorably to properties that reflect the latest design trends, are in “turn-key” condition and are priced properly, therefore portraying good value.

Looking Ahead

Another strong indicator of a healthy market is the number and value of pending sales. As of July 1st – based on the number of properties already in contract and under deposit – we have the potential to sell an additional 100 properties before Labor Day. This should keep us on track until the end of the year – and at a minimum – it will keep us on par with 2015. The fourth quarter is a bit tricky to predict considering the upcoming Presidential Election and the mitigating economic factors such as Brexit and other international influences. With interest rates still historically low, we should see serious buyers strongly seeking out the best value.

DOWNLOAD THE FULL REPORT HERE

Ridgefield Market Report for April 2016

Overall, April 2016 was a good month for Ridgefield real estate. The large number of properties opening escrow, along with the increase in the number of closed sales and the low inventory levels mean properties are definitely selling. Unfortunately, the median sales price still lags behind that of last year’s market. Hopefully, increasing demand for properties priced well and in good condition will drive market prices up.

MEDIAN SALES PRICE and CLOSED SALES
For April, the number of closed sales was up 33.3% at 24 compared to 18 last year, and we are up 19.7% overall in the year-to-date with 79 properties sold compared to 66 at the same time in 2015. Unfortunately, the median sales price for April continues to lag behind the same time last year at $658,500 in 2016, compared to $750,000 in 2015. Overall, in the year-to-date, the median sales price is down 10.2% over the same time last year.

PROPERTIES UNDER CONTRACT
We continue to see a strong spring selling season with 66 properties going under contract in April, compared to only 32 during the same time last year. Overall the spring market is up 55.2% compared to the same time in 2015 with 135 properties in escrow compared to 87 last year.

DAYS ON MARKET and INVENTORY
The number of days on market decreased from 260 to 153 in April, 2016. Overall, the days on market has stayed relatively the same as during the same time period last year. Months supply of inventory is only 6.6 months compared to 13.1 months at this time last year, indicating a strong market.

See a full graphical analysis of Ridgefield’s April 2016 real estate market report, and take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

For a breakdown of the Ridgefield Real Estate Market by price, view the April 2016 price snapshot.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2016/05/April-2016-stats.pdf

* All data taken from Greater Fairfield County CMLS as of 05/01/2016

Ridgefield Market Report For January 2016

January 2016 was a solid month for Ridgefield real estate, with the median sales price staying relatively constant and the number of properties going under contract increasing 83% over January last year. Inventory is down, and homes are spending less days on average on the market than the same time last year.

MEDIAN SALES PRICE and CLOSED SALES
The median sales price for January 2016 was $585,000, which represents a decrease of 5.6% when compared to January 2015. The number of closed sales was also down from 18 in 2015 to 14 during January this year.

PROPERTIES UNDER CONTRACT
Despite the fact that the number of closed sales was down, the number of properties that entered escrow this month rose by 83% with 33 properties going under contract compared to 18 in January last year.

DAYS ON MARKET and INVENTORY
The average days on market was down to only 100 days this month – a decrease of 18.7%. Last year, a house spent an average of 123 days on the market before selling. The months of supply of inventory has also decreased from 15.9 months in 2015 to only 8.5 months in January this year.

NEW PROPERTIES FOR SALE
There was a small decrease in the number of homes listed for sale in Ridgefield this month compared to January 2015. 42 homes were listed new, compared to 49 last year, representing a decrease of 14.3%

For a full graphical analysis of Ridgefield’s January 2016 real estate market,click here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

January 2016 price snapshot

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2016/02/Jan-2016-stats.pdf

* All data taken from Greater Fairfield County CMLS as of 01/31/16

Ridgefield Market Report : Year In Review 2015

Staying The Course

When reviewing the 2015 sales results, one can interpret that the real estate market is flat when compared to 2014. I think that is an accurate statement, but it is also safe to say that we are staying the course when it comes to market stabilization, avoiding the large swings in value or unit sales seen in previous years. Essentially, Ridgefield real estate sales showed 100 more homes sold than in 2009, and only 9 less than in 2014. In both 2014 and 2015 we did not experience a traditional spring market surge, partly due to the severe and extended winter weather, and consumer confidence still seems to be the driver in bringing buyers to the market. Observationally, when analyzing sales by price point, the typically consistent $1.5- $1.75 million struggled in 2015. Conversely, we had a nice uptick in the $2 million and higher category.

The Power Of Proper Pricing

Pricing your home properly from the start is one of the key factors in achieving the best possible outcome for sale. Buyers are savvy and intuitive and can easily determine if they need to act quickly or wait to see if a price adjustment is imminent. We are not seeing many low ball offers, therefore do not feel like you need to build in a cushion. An equally important factor is making sure that your home is “turn-key”. Focus on a few important rooms. For example, if you are a few years away from listing your home for sale and feel that your kitchen is in need of some updating – don’t wait! If at all possible – do the updates now, and enjoy living with them until you are ready to sell.

No Longer A Wild Ride

Since 2013, the Ridgefield real estate market has been steady in both price and unit sales. Fairfield County as a whole has experienced that same stability. Moving into 2016, I see a trend of increasing consumer confidence that real estate is once again a stable investment.

DOWNLOAD THE FULL REPORT HERE

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2016/01/2015-Year-End-Review-FINAL.pdf

Americans Positive About Selling

The National Association of Realtors reported that more consumers thought it was a good time to sell a home, encouraged by a stable job market and income growth. According to an article they published in Realtor Mag, Fannie Mae’s latest Home Purchase Sentiment Index, which capped off its strongest year so far showed that the share of consumers who reported their income was significantly higher than it was 12 months ago rose 9 percentage points on net in December.

“Consumers ended the year on an improved note with regard to their income, job security, and overall economic outlook,” says Doug Duncan, Fannie Mae’s chief economist. “Brightening economic prospects, if sustained, should stimulate demand for home ownership. However, continuing upward pressure on rental prices and constrained housing supply, particularly for starter homes, may mean prospective first-time home buyers could face affordability constraints.”

Fannie Mae’s survey found that 40 percent of 1,000 respondents surveyed said they are confident home prices will rise this year.

Also, their financial picture is improving too. Eighty-five percent of respondents said they are not concerned about losing their job, which ties an all-time survey high. What’s more, the number of respondents who say their household income is significantly higher than it was 12 months ago increased 9 percentage points to 15 percent in the survey.

Other highlights from the survey include:

*The net share of respondents who say that it is a good time to buy a house remained flat at 35%.

*The net percentage of respondents who say it is a good time to sell a house rose after falling for two months in a row – rising 4 percentage points to 8% in December.

*The net share of respondents who say that home prices will go up rose 2 percentage points to 40%.

*The net share of those who say mortgage interest rates will go down continued to decrease, dropping 4 percentage points to negative 52%.

*The net share of respondents who say they are not concerned with losing their job rose 3 percentage points to 72%. 85% of respondents say they are not concerned about losing their job, tying an all-time survey high.

*The net share of respondents who say their household income is significantly higher than it was 12 months ago rose 9 percentage points to 15%.

For more information about the complete survey visit http://www.fanniemae.com/portal/about-us/media/corporate-news/2016/6333.html.

Zillow Admits Their “Zestimates” Aren’t Correct

As realtors, we come up against the Zillow “Zestimate” every day. It’s nice to see that in a recent interview the CEO of Zillow, Spencer Rascoff, concedes that the Zestimate uses an algorithm that doesn’t work across the board. He admits that the Zestimate should only be used as a starting point for buyers and sellers to consider when evaluating a price for their home. In fact, he answered that the nationwide Zestimates have a “median error rate” of about 8%.

Eight percent is a huge number in some markets, including Ridgefield and the rest of Fairfield County. In fact, for a median priced home of $650,000 in Ridgefield – that translates to a difference of $52,000! You can see why buyers and sellers bring the Zestimate to our attention when it’s incorrect.

Given that real estate markets are local in nature, the Zestimate is not a replacement for consulting a licensed real estate professional. Realtors take into account many things when placing a value on a home. Location, condition, size, finishes, acreage, current market fluctuations, and many other factors go into the “formula” for correctly pricing a home to sell. Just some food for thought.

Read the whole article published in the LA Times here.

Ridgefield Market Report For November 2015

November brought good results for Ridgefield’s real estate market. The number of new properties for sale, number of properties that went under contract, number of properties sold and the median sales price all increased over the same time last year. This puts us on track to exceed 2014’s total real estate sales and indicates a market that is stable or even growing slightly.

MEDIAN SALES PRICE and CLOSED SALES
The median sales price for November 2015 was $640,000, which exceeds the median sales price of $538,500 seen in November 2014 by 18.8%. Year to date was slightly lower at $660,000 compared to $666,000 during the same time period in 2014 – a decrease of 0.9%. There were also 26 closed sales in November 2015 compared to 14 during the same time last year. In the year to date there is only a 0.3% decrease in the number homes sold from 296 in 2014 to 295 so far this year.

PROPERTIES UNDER CONTRACT
In continued good news, 42 properties went under contract in November 2015, as compared to only 27 during November 2014 representing an increase of 55.6%. Overall, 323 properties have gone under contract in 2015 as compared to 317 during the same time period last year.

DAYS ON MARKET and INVENTORY
The average number of days on market increased by 2.0% from 152 days in November 2014 compared to 155 days this year. Months of inventory decreased by 29.7% from 11.8 months last year as compared to 8.3 months in 2015.

NEW PROPERTIES FOR SALE
There was an increase in the number of homes listed for sale this month, jumping from 16 in October 2014 to 41 during the same time period this year. This represents an increase of 156.3%. Year to date, there was also an increase in the number of new properties for sale from 610 in 2014 to 689 in 2015.

For a full graphical analysis of Ridgefield’s October 2015 real estate market, click here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

November price snapshot

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2015/12/KMMReport-Nov-2015.pdf