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Local, Local, Local: Real Estate Buyers and Sellers Should Think Locally

"Location, location, location" has long been the mantra most often repeated by Realtors, but along the Connecticut shoreline "local, local, local" is equally relevant for both buyers and sellers of real estate.

Karen Stephens, Broker and Executive Vice President at Page Taft~Christie's International Real Estate points out that market trends are local, so take that into consideration when listening to national news. "Page Taft agents know your local area. They understand the nuances of each town and are able to evaluate your property based on many considerations," she says.

"Page Taft has a great tool, Neighborhood News, found at PageTaft.com. Anyone looking for local statistics about their area can subscribe to this monthly newsletter which will come directly to your email. The newsletter will have stats on the zip code you subscribe to but is interactive and you will be able to look at any zip code in Connecticut," she says adding, "It gives the consumer a 30, 60, 90 day look at homes sold and new to the market during any of these time periods. Of course, contact any Realtor at Page Taft for a more in depth look at what is happening in the local real estate market."

Stephens says, "When a home is positioned properly in the market, the home sells quicker and gets more traffic from prospective buyers both online and in person."

She advises, "If buyer is looking for a great deal which means considering foreclosures on short sales, they must be able to have vision to consider the potential possibilities."

"And if the seller is looking to maximize their profit, they must be proactive about making small repairs necessary, painting or touching up painting, de-cluttering and organizing the home, making the home as enticing as possible with nice landscaping and staging the interior as well as outdoor living spaces."

There are Renovation Loans (referred to as 203k loans) available for homes that need anything from updated kitchens or bathrooms to new roofs, septic or driveways. The loan is based on the appraised value after renovations/improvements are made. Knowledge about this program can help sellers sell their home quicker by working with the mortgage lender who will provide information to potential buyers. "Ask any Page Taft Realtor about how this program can help you as a seller or buyer," she says.

According to the National Association of Realtors, 85 percent of buyers are online looking at homes before they even contact a Realtor. This means that professional photography is a must!  However, buyers should take council from their Realtor and not rely totally on photography when it comes to deciding which homes to consider in their search for a new home.

The Connecticut shoreline and lower Connecticut River Valley are unique markets. Page Taft, with offices in Essex, Madison and Guilford, specializes in the marketing and sale of waterfront, village and luxury homes in the area. With nearly 65 agents, all local experts in their markets, Page Taft is among Connecticut's leading real estate companies.

"We often caution sellers that the Connecticut Shoreline introduces particular variables to pricing real estate accurately," says Stephens pointing out, "popular real estate valuation programs often do not apply here."

"Its proximity to New York makes the area attractive to many buyers looking for picturesque, colonial communities without having to travel to northern New England," she adds.

Manhattan intellectuals and wealthy urbanites have been lured to Connecticut's shoreline for decades as "many are drawn to its quiet charm and New England reserve."

According to Stephens, despite moderately priced homes in many areas, "the higher end of the market along Connecticut's shoreline sees strong sales activity, particularly in the most sought-after towns for second home properties."

"The Connecticut Shoreline attracts many desirable cash buyers, and this can often avoid complications sometimes associated with financing," she says.

Location relative to waterways is often a significant consideration. "Comparables, property size, number of bedrooms and bathrooms alone don't suffice," Stephens believes.

Select Page Taft~Christie's International Real Estate with Local Expertise and Global Marketing with affiliations with Christie's Auction House and Leading Real Estate Companies of the World. LeadingRE is a network of independent brokerages in 65 countries, with 565 companies and 130,000 real estate agents.

Guilford Office89 Whitfield Street

203-453-6511

Madison Office738 Boston Post Road

203-245-1593

Essex Office5 Essex Square

860-767-5390