Fab Real Estate Blog

There's a running joke in my house - how often can I be quoted in the press as a real estate expert?

It happens.  It's fun.  And, so far, they've always spelled my name right.  That can be a feat unto itself.

The latest article pertained to whether or not sellers, when they've already moved and their house is vacant, should rent their house out to tenants while it's on the market for sale.

View the article:  Renting is an Option when House Won't Sell

My view:
If you're selling a vacant home, should you rent it out while trying to sell it?  Absolutely not.

A clean, vacant home typically shows much better than a home with tenants.  It is always available for viewing.  It is always in top show condition.  There are no worries about messes or tenants not allowing prospective buyers the opportunity to view the home.

If the house doesn't look great vacant - then stage it.  Hire a professional stager and rent some furniture.  It will show like a model home.  And, once you've moved out, it is then much easier to give the entire interior a new paint job.

Of course, there are exceptions.  If the home is one that will appeal primarily to investors, then having tenants in place may be a bonus.  This can be especially true for multi-family homes and homes in vacation areas.

You may say:  But the house is vacant and is costing me money. I'm paying two mortgages.  It won't sell.  I need tenants.
This is a situation that needs to be looked at further. 
Why won't the house sell?  Is it the price?  The condition? 
Let's make this house sell.  It can be done, even in this current market.
Or consider, keeping the home and locating long-term tenants. 

Talk to your real estate professional.  Determine the best route for you to either sell your home or rent it out for the long term. 

Don't fret over the situation.  Work with your agent to find the solution!

Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

This June, Connecticut's Home Seller Tax - aka the Invisible Tax - is once again set to expire.

Home Sellers in Connecticut must pay a "transfer tax" upon the sale of a home.  This tax is based on the sale price.  Over the years, temporary additional taxes have been added to this transfer tax, creating higher costs for the state's home sellers.  Originally set to expire in 2004, this "temporary" tax still remains today.  It is currently set to expire in June, 2008, unless it is once again extended by our state government.

And, yes, this tax is in addition to the property taxes already paid by all home owners.  It's a tax to sell your home.

Please visit The Invisible Tax for more information and to learn what you can do to help ensure this tax expires, as it should have done years ago.

Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

I have kids.  Many kids.  OK, only three kids, but if often seems like there are so many more of them...

The other day, my youngest, who is 4 years old, took a ball point pen and proceeded to draw all over our leather ottoman.  Oops.  Pretty blue ink scribbled all over the ugly brown leather.  At least, that's how I'm guessing he thought of it.

But, Google is my friend:
How to Remove Ink from Leather

Rubbing alcohol.  It really does work!

Apparently, I have trouble with leather products lately...

Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

New Milford, Connecticut Real Estate Update
February , 2008

Closed home sales in New Milford, Connecticut:

Single Family Homes:
There were 19 single family home sales closed in New Milford, CT.
List Prices ranged from $162,000 - $659,900.
Closed Sales Prices ranged from $145,000 - $630,000.

The average closed real estate sales price for single family homes in New Milford was $329,836.
The median closed sales price was $300,000.
On average, these homes sold for 94% of their final list price.
Days on Market ranged from 71 - 730 days, with the average being 268 days of market time.

This compares to 17 single family homes closed in February, 2007, with an average closed sales price of $504,964 and a median closed sales price of $369,000.

Condos:
There were 4 condominium sales closed in New Milford, CT.

The average closed real estate sales price for condos in New Milford was $193,322.
The median closed sales price was $192,950.
On average, these homes sold for 98.6% of their list price.

This compares to 9 condos closed in February, 2007, with an average closed sales price of $178,333 and a median closed sales price of $180,000.

Currently available homes for sale in New Milford, Connecticut:

Single Family Homes:
Currently, there are 233 single family homes for sale in New Milford, CT.
List Prices range from $159,900 for a bank-owned fixer to $4,200,000 for a restored 1800's home on 65 acres.

Condos:
Currently, there are 74 condos available for sale in New Milford, CT.
List prices range from $69,500 for a studio unit to $539,900 for a detached unit in an active-adult community.

New Milford, Connecticut, is the southernmost town in Litchfield County and is known as The Gateway to Litchfield County.  The town borders the northeastern shores of Candlewood Lake.  Several lake communities surround its Candlewood Lake shores, and typically offer a private beach for residents, boat docks and other amenities.  New Milford enjoys a population of about 28,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

Brookfield, Connecticut Real Estate Update
February, 2008

Closed home sales in Brookfield, Connecticut:

Single Family Homes:
There were 7 single family home sales closed in Brookfield, CT.
List Prices ranged from $324,900  - $1,095,000.
Closed Sales Prices ranged from $313,000 - $950,000.

The average closed real estate sales price for single family homes in Brookfield was $559,142.
The median closed sales price was $436,000.
On average, these homes sold for 92.7% of their final list price.
Days on Market ranged from 114 - 356 days, with the average being 202 days of market time. 

This compares to 8 closed sales in February, 2007, with an average sales price of $508,535 and a median closed sales price of $510,500.

Condos:
There were 2 condominium sales closed in Brookfield, CT.
The average sales price was $215,000
The median sales price was $215,000
These units sold for 96.7% of the most recent list price.


This compares to 2 closed sales in February, 2007 with an average sales price of $235,000 and a median sales price of $235,000.

Currently available homes for sale in Brookfield, Connecticut:

Single Family Homes:
Currently, there are 149 single family homes for sale in Brookfield, CT.
List Prices range from $225,900 for a small 2 bedroom home to $1,595,000 for an expanded and renovated antique home on over 5 acres.

Condos:
Currently, there are 35 condos for sale in Brookfield, CT.  List prices range from $192,000 for a one bedroom unit to $639,900 for a newer detached unit.




Brookfield, Connecticut, is located between Candlewood Lake and Lake Lillinonah, creating a multitude of water recreation opportunities in the town.  Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities.  Brookfield enjoys a population of about 16,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

Danbury, Connecticut Real Estate Update
February, 2008

Closed home sales in Danbury, Connecticut:

Single Family Homes:
There were 24 single family home sales closed in Danbury, CT.
List Prices ranged from $199,0900 - $799,900.
Closed Sales Prices ranged from $160,000 - $745,000.

The average closed real estate sales price for single family homes in Danbury was $374,912. 
The median closed real estate sales price was $330,000.
On average, these homes sold for 95.4% of their most recent list price.
Days on Market ranged from 46 - 503 days, with the average being 201 days of market time. 

This compares with 30 closed sales in February, 2007, with an average closed sales price of $342,619 and a median closed sales price of $323,800.

Condos:
There were 23 condominium sales closed in Danbury, CT.
The average closed real estate sales price for condos in Danbury was $269,204.
The median closed sales price was $304,900.
On average, these homes sold for 96.6% of their most recent list price.

This compares with 20 closed sales in February, 2007, with an average closed sales price of $283,125 and a median closed sales price of $269,925.



Currently available homes for sale in Danbury, Connecticut:

Single Family Homes:
Currently, there are 221 single family homes for sale in Danbury, CT.
List Prices range from $79,000 for a summer-only as-is cottage in a lake community to $4,400,000 for an 1840's home on 55 acres.

Condos:
Currently, there are 237 condos available for sale in Danbury, CT.
List prices range from $85,000 - $850,000.

Danbury, Connecticut, a former military depot during the American Revolution, is a diverse community of about 78,000 residents that borders New York State to the west and the southern shores of Candlewood Lake.  Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities.  Danbury enjoys a convenient commute location to lower Fairfield County and Westchester County, New York.  Danbury is situated just about an hour by car to Hartford, Connecticut and New York City.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate

Sherman, Connecticut Real Estate Update
February, 2008

Closed home sales in Sherman, Connecticut:

There were 3 home sales closed in Sherman, CT.
List Prices were $335,000 - $1,350,000.
Closed Sales Prices were $315,000- $1,300,000.

Closed homes sold for 90.1% of their most recent list price.

Marketing time ranged from 284 - 876 days on market.  The average was 514 days on market.

This compares with 2 closed sales in February, 2007, with an average and median sales price of $1,218,750.

Currently available homes for sale in Sherman, Connecticut:

Currently, there are 43 homes for sale in Sherman, CT.
List Prices range from $299,900 for a small cottage with beach rights to $3,250,000 for an 18th century colonial on 37 acres.

Sherman, Connecticut is a small semi-rural community of about 4,000 residents that borders New York State to the west, New Fairfield to the south and hugs the northwestern shores of Candlewood Lake.  Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities.  The northernmost town in Fairfield County, Sherman is often cited as being the fastest growing town in Connecticut per capita, yet still retains its rural roots and charm.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

New Fairfield, Connecticut Real Estate Update
February, 2008

Closed home sales in New Fairfield, Connecticut:

There were 9 home sales closed in New Fairfield, CT.
List Prices ranged from $215,000 - $1,099,000.
Closed Sales Prices ranged from $200,000 - $1,040,000.

The average closed real estate sales price for New Fairfield was $494,850.
The median closed real estate sales price for New Fairfield was $385,000.
On average, these homes sold for 94% of their final list price.
Days on Market ranged from 124 - 569 days, with the average being 321 days of market time.

This compares with 1 closed sales in February, 2007, with an average sales price of $494,604 and a median sales price of $392,500.


Currently available homes for sale in New Fairfield, Connecticut:

Currently, there are 105 homes for sale in New Fairfield, CT.
List Prices range from $189,900 for a small, older colonial home  to $2,895,000 for a proposed new construction waterfront home on Candlewood Lake.

New Fairfield, Connecticut is a small community of about 14,000 residents that borders New York State to the west and Candlewood Lake to the east.  Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities.  New Fairfield enjoys a convenient commute location to lower Fairfield County and Westchester County, New York.  New Fairfield is situated just over an hour by car to Hartford, Connecticut and New York City.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate

This Saturday night, before you go to bed, be sure to set your clocks ahead one hour, as we begin Daylight Savings Time. 

While you're at it, take this opportunity to replace the batteries in your smoke detectors.  Replacing the smoke detector batteries twice each year - coinciding with when we change our clocks - ensures that you will be protected in your home in the event of fire.

Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale