Bob Travers Knows Fairfield County Real Estate!
Buying or selling a home in Norwalk, Wilton, Westport, Stamford or Weston?
As a top-producing Connecticut real estate Broker since 1987, I have provided award-winning service to hundreds of satisfied home buyers and sellers in Fairfield County.
For information on real estate activity in your neighborhood, click on Market Updates. Here you will find a report detailing homes currently for sale, under contract, and recently sold in Norwalk, Connecticut. This exclusive report provides the most complete, up-to-date information available on the Internet today.
Also you will find current market statistics for Westport, Wilton, and Weston. These reports are updated frequently and can also be sent directly to your email address. Simply fill out the form.
The number of people purchasing previously owned homes rose in August by a sizeable percentage. The sales were driven by an increase in foreclosures and short sales. Reportedly, 1 in 3 home sales were distressed property sales. Investors are slowly creeping into the market and picking up the less expensive homes and converting them to rentals.
Activity by first-time buyers, key to a recovery in housing, has not increased. Stricter lending standards have slowed purchases, and foreclosures have forced more people out of their homes. The tightest mortgage standards in more than a decade are disqualifying potential buyers, while owners are being evicted from homes after falling behind on loan payments.
An interesting analysis of seller behavior recently reported by Zillow reveals that homeowners who purchased after the peak of the market (June 2006) dramatically over-price their homes relative to their realistic market value. The sellers who purchased post-bubble claim that the primary factor in pricing their home is their original purchase price. Not only are these sellers pricing higher than their purchase price, but they are also trying to claw back all of their closing costs.
Although it appears that many homes are on the market, a closer analysis suggests that a large majority of these homes are incorrectly priced and will not sell, no matter how low the interest rates. Buyers are looking and buying, but they are not willing to overpay.
A new feature of my web site appears under Market Updates, where you can see specific market trends on a month-to-month basis in the towns of Norwalk, Wilton, Westport and Weston. Check it out…
Bookmark this page and return to it often to keep abreast of current economic news that may affect the real estate market in the Fairfield County, Connecticut area.
