Lush gardens and primeval trees are as prominent as pristine lawns on Greenfield Hill which lights up each spring with the pink and white blossoms of thousands of dogwood trees. The dogwood has been a Greenfield Hill trademark since Dr. Isaac Bronson, an assistant surgeon in the Revolutionary War, decided to showcase them along the edges of his Bronson Road estate. In the early 1900’s the Greenfield Hill Village Improvement Society began importing and planting approximately 100 dogwoods a year. By the 1930’s, word had spread that the blooming of these trees was a sight worth traveling for and the famed Greenfield Hill Dogwood Festival was born. For more than a century, this same association has worked to maintain the area’s rural character. Representing approximately 900 households, the society was instrumental in obtaining two acre zoning for the Greenfield Hill Congregational Church and surrounding properties which became the standard for this captivating enclave.

It’s not as if Fairfield, CT needed another reminder of just how all- American and hard- working it really is. But just in case…it can now officially boast to be the proud home of the 9 -10 yr old Girls Softball team, State Champs and New England Champs; the 9-10 yr old Little League Boys who won State, New England, and Eastern Division titles; the 11 yr old Little League Boys who won the State title and the Boys 12 D’s who after winning, States and New England are warming up to play in the WORLD SERIES!!

Baseball fever does not get any better than this! In even the best of times, this whopping achievement would still be realized as nothing short of amazing and well it should. Without the contagious enthusiasm of those older boys of summer, that would be the coaches, their teams’ successes would have been merely a cream puff of a dream. As a parent of one of the 9-10 yr old boy players, not enough can be said about these selfless individuals who make the time every day from the end of June right up till mid- August working to encourage each young athlete to achieve his/her personal best. And naturally, without our eager, innocent, talented and passionate players there wouldn’t even be a story.

Is it a coincidence that all 4 Fairfield teams won their State Championships? What does it say about this humble and hard -working town? In one word: A LOT! Integrity, endurance, perseverance, values—this is what the amazing town of Fairfield, CT is all about.

Highlights:

• The Avg. List price of a home was down 6.2% to $1,614,788 in July 2010 vs. July 2009.

• The Avg. Sale price of a home was down 5.6% to $1,525,787 in July 2010 vs. July 2009.

• The Avg. Days on Market was down 24 days July 2010 vs. July 2009 and was down 3 days when compared to July 2008.

• The number of home listings taken was down only 3% to 65 homes in July 2010 vs. July 2009 and up 8.3% from July 2008.

• The number of homes sold was up a healthy 51.5% to 50 homes in July 2010 vs. 33 homes sold in July 2009.

• LP/SP ratio adjusted up 0.6% in July 2010 vs. the same period in 2009 and 2008.

Highlights:

• The Avg. List price of a home was up 16.6% to $830,403 in July 2010 vs. July 2009.

• The Avg. Sale price of a home improved 17.9% to $789,089 in July 2010 vs. July 2009.

• The Avg. Days on Market went down by 18 days in July 2010 vs. July 2009 and down by 9 days when compared to July 2008.

• The number of home listings taken was down only 9.4% to 96 homes in July 2010 vs. July 2009 and down 6.8% from July 2008.

• The number of homes sold was down 26.3% in July 2010 vs. July 2009 and down 22.4% from July 2008.

• LP/SP ratio adjusted up 1.1% in July 2010 vs. the same period in 2009.

For a number of comfortable years, we were able to predict the year’s real estate sales pattern based on consistent trends of recent seasons. Our “spring market”, with the year’s peak in inventory and sales volume, began around Super Bowl weekend, but the frenzy dwindled by Mother’s Day.

This year, all bets are off. Buyers in 2009, uncertain about jobs, price trends and pretty much everything, hesitated to act. In 2010, buyers and sellers alike have shaken off last year’s paralysis, and are boldly taking advantage of market opportunities. Interest rates are at 30-year lows, even for jumbo loans. Low interest rates combine with attractive prices. Extended first-time buyer credits have made purchasing a home a no-brainer decision for young people investing for the first time. Credit standards, brutally tight throughout 2009, have begun to relax a little.

An uncertain global economy has kept interest rates low for longer than anyone predicted. Efforts to bolster the housing sector showed results with a burst of activity in the second quarter of this year. In three key Fairfield County residential markets, there was an unexpected surge in houses sold:

Darien:
2nd quarter 2010 – 80 houses closed – average sales price $1.629M
2nd quarter 2009 – 48 houses closed – average sales price $1.398M
2nd quarter 2008 – 62 houses closed – average sales price $1.700M

Westport:
2nd quarter 2010 – 95 houses closed – average sales price $1.368M
2nd quarter 2009 – 62 houses closed – average sales price $1.222M
2nd quarter 2008 – 71 houses closed – average sales price $1.654M

Fairfield:
2nd quarter 2010 – 201 houses closed – average sales price $702K
2nd quarter 2009 – 116 houses closed – average sales price $720K
2nd quarter 2008 – 135 houses closed – average sales price $799K

In all three market areas, sales have rebounded dramatically as the year progresses. In Westport and Darien, with higher average prices, the average point has increased from 2009’s low; in Fairfield, where the average selling price is lower, unit volume is enormous, but shows the effect of strong participation from first-time buyers, who typically can afford more modest homes.

2010 has been an exciting and surprising year. Sellers, recognizing that the days of skyrocketing growth in the value of their homes is over, for now, are nonetheless pleased to see buyers returning in greater numbers. Buyers continue to show confidence that owning a home is the most satisfying investment possible.

Staging is the only service done in preparation of the house for sale that brings MEASURABLE VALUE.  In fact there is a measurable rate of return on Staging.

In 2008, the National Association of Realtors (NAR) reported that the average price reduction is now between 10-20% for a house on the market.

FACTS:  10-20% of the following house prices:

$250,000 house = $25,000-$50,000
$500,000 house = $50,000-$100,000
$750,000 house = $75,000-$150,000

That is a LOT of equity to risk.

The Investment in Staging is always less than a price reduction.

Remember Our Stats:

Since January 2010—Al Filippone Associates Staged homes (on average) have sold in 52 days or less vs nonstaged homes ~103 days (on average).

AFA Staged Homes (on average) have sold for 97% of asking price vs. non staged Fairfield County Listings (on average) have sold for 93% of asking price.

This Is A No Brainer—Everybody Wins!!!!!

1.) Be friendly and hospitable even if this is the worst timing ever. The less confrontational the dialog with the agent, the better. You are a reflection of your home and if the buyers get the wrong impression of you, chances are they will automatically disregard your home. So it becomes a “lost” showing and therefore a lost buyer either way.

2.) Ask the agent and buyers if they have any other homes to see and could they come back in a half hour? Be sure to address the buyers when you request this. It is a request to them to come back and it becomes personal. The buyers will make it a point to return to the house.

3.) Tell the agent you just need 10 minutes and would they like to walk around the exterior of the house? Or steer them in the direction of a point of interest on your street, “Have you seen the park on Smith Street? Did you know there is a great little coffee shop just up the street?” Give the buyer a reason to wait and stay occupied while you prepare and leave the house.

4.) If you just can’t accommodate the showing, make sure you take the agent’s business card and call your agent. Let him/her know what happened so that your agent can call and follow up to invite the buyers to return at a later date. Anything you can do to maximize your showings, the greater chance you have of selling your home.

Highlights:

• The Avg. List price of a home increased 9.7% to $1,464,245 in 2Q 2010 vs. $1,334,208 in 2Q 2009.

• The Avg. Sale price of a home increased 11.9% to $1,368,071 in 2Q 2010 vs. $1,222,373 in 2Q 2009.

• The Avg. Days on Market decreased 6 days in 2Q 2010 to 107 days vs. 113 days in 2Q 2009 and up 3 days
vs. 2Q 2008.

• The number of home listings taken increased 20.1% to 305 homes in 2Q 2010 vs. 254 homes in 2Q 2009
and was up 21.5% from 2Q 2008.

• The number of homes sold increased 53.2% to 95 homes in 2Q 2010 vs. 62 homes sold in 2Q 2009 and was
up 28.4% when compared to the same period in 2Q 2008.

• LP/SP ratio increased 1.8% in 2Q 2010 to 93.4% vs. 91.6% in 2Q 2009.