The Median Sales Price in April was $725,000, down 3.3% from $750,000 in April of 2011 and down 0.2% from $726,250 last month. The Average Sales Price in April was $749,350, down 16.0% from $891,813 in April of 2011 and up 3.0% from $727,679 last month. April 2012 ASP was at the lowest level compared to April of 2011 and 2010.

Market Action Report – City_ Weston – Apr2012

Gail Lilley Zawacki, Realtor
Coldwell Banker Real Estate
472 Riverside Avenue
Westport, CT 06880
203-856-9949
Gail@SouthernCT.com

With more than sixteen years of experience, Lilley Zawacki has been successfully meeting the needs of homebuyers and sellers in Fairfield County. She has been trained as a Relocation Specialist, Previews Property Specialist, New Homes Specialist and Waterfront Specialist and holds the professional designations of GRI, ABR and EPro.

“Through hard work and an intimate understanding of the local real estate market, Gail has achieved great success in 2011,” said Cathleen Smith, president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y. “The Coldwell Banker^® International President’s Circle award is recognition of these achievements.”

Lilley Zawacki accepted the honors, saying: “As the market becomes more difficult, buyers and sellers are more responsive to detailed interpretation of market conditions and substantiated advice on what to expect in both the buying and selling processes. It’s more than just knowing the numbers, it’s having perspective on what’s really moving the market. That’s the perspective and the service I provide…and that’s why I’m successful.”

Lilley Zawacki is affiliated with the Coldwell Banker Residential Brokerage office in Westport, Ct, located at 472 Riverside Ave. She can be reached there at (203) 682-9444 or via email at Gail@SouthernCT.com. For more information about her and the services she offers, visit www.SouthernCT.com.

Locally, she is an active volunteer serving the Bridgeport Rescue Mission and Domestic Violence organization. Four years ago she started the Thanksgiving Food Bag Project that distributes the Weston Food Pantry and the Homes for Hope.

Each year, Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y. recognizes the work of exceptional sales associates and sales teams through its distinguished awards program.

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company in Connecticut and Westchester County, N.Y., operates approximately 50 offices with more than  2,100 sales associates serving the communities of Connecticut and Westchester County, N.Y. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. For more information, please visit www.ColdwellBankerMoves.com.

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1. In 2011, 37% of homebuyers were first-time buyers – which was down from 50% in 2010.

2. Last year, 88% of homebuyers used the Internet to search for a home. That number was down slightly from a high of 90% in 2009.

3. The typical homebuyer searched for 12 weeks and viewed 12 homes.

4. The number of buyers who purchased their home through a real estate agent or broker climbed to 89% – a share that has steadily increased from 69% in 2001.

5. Nearly 1 out of 4 buyers said the application and approval process was “somewhat more difficult” than expected and 16% reported it was “much more difficult” than expected.

6. About half of home sellers traded up to a larger and more expensive home and 60% traded up to a new home.

7. The top 3 factors influencing neighborhood choice were: the quality of the neighborhood, the convenience to job, and the overall affordability of homes.

8. The typical seller lived in their home for 9 years. That number has increased from 6 years in 2007.

9. Although 61% of sellers said they reduced their asking price at least once, the average home sold for 95% of the listing price.

10. Only 10% of sellers sold their homes without the assistance of a real estate agent. Of those people, 40% knew the buyer prior to the sale.

11. The typical “for sale by owner” home sold for $150,000 compared to $215,000 for the average agent-assisted home sale.

All Contents 2012 The National Association of Realtors.

The question on the minds of many homeowners and buyers these days is whether real estate is still the wise investment it once was. Most mortgage, real estate and financial planning professionals will tell you that it still is – as long as you proceed carefully when making any real estate purchase.

One of the biggest lessons to come out of the housing crisis is that real estate is no longer just an investment – it is a home first. It is something that keeps you warm and safe and dry; it’s where you make memories and share activities and events with friends and family. Most homes no longer see rapid increases in value (that rapid appreciation was unnatural anyway), though their value should increase slowly with time. Any decision that could potentially put that home at risk must be taken with great care.

Homebuyers once simply bought properties with little thought as to their potential desirability and marketability, on the assumption that the properties would increase considerably in value in a short period of time, so that even if you don’t like the house, you can always get your investment back. Using the home’s equity to purchase cars, a second home, a home theater or a costly vacation is no longer advisable. Many investors also once bought properties without a great deal of consideration as to where the property was located, because it was also assumed to increase in value no matter what. Now it’s important to understand how values are trending in a specific neighborhood in order to determine whether buying in that area is a sound financial strategy. Just because you can purchase a foreclosure at a severely slashed price doesn’t mean you should. The returns may never be enough to make it worth the time and effort you go through to own and market the property.

First time homebuyers are entering the market in increasing numbers due to lower home prices and ultra-low interest rates. Homes that were once considered unreachable by many are now being snatched up quickly. Again, it is important to understand the market and be aware of which way home values are expected to go in a certain neighborhood.

For those  considering real estate strictly as investment, in order to remodel a home and sell it or purchase a property to become a landlord, now is a great time to do so. In many neighborhoods, lower priced homes that have been completely remodeled are selling quickly. First time homebuyers are seeking out remodeled homes in increasing numbers because they don’t want to have to spend their own money on repairs and upgrades.

Obviously, in this ever-changing market, your real estate and mortgage professionals can be relied upon to help you understand market data, interest rates and more. Consult with them if you are considering purchasing a home for the first time, buying a second home or purchasing an investment property. They have the knowledge and the experience to help you make the right real estate decisions for your situation.

Market Perspective

Extreme weather events, along with continuing hurdles in buyers’ ability to get financing and close deals are curbing home sales.  Existing home sales were down 8 % in July from the previous year.  Looking ahead, pending home sales for July were down 2%, and August appears is mirroring it with another anticipated 2% dip.

We continue to see the economy sputter, but with some signs of improvement, like in the recent job creation area.  But, the debt crisis, vacillating gas prices and weather issues all help contribute to the slowdown. Whether home sales in the months ahead will to stagnate, we’ll have to wait and see. But, if current overly tight lending conditions ­worsen, then a further price decline is clearly possible in some price ranges and in certain locations.

But this is a worst-case scenario. What’s more likely is that any additional price contractions will be modest and may very well spur first time homebuyers to get in the market. Home values have already fallen considerably to historically justifiable levels. And in areas where jobs are strong, prices are solid or even heading up.

Gail Lilley Zawacki, International President’s Premier, Realtor for fifteen years with Coldwell Banker Residential Brokerage at 472 Riverside Ave, Westport, CT.  Member of the Westport/Weston Board of Realtors and providing information as a Top 5 Member.  You may reach her at: (203) 682-9444 or Email:   Gail@SouthernCT.com Website:   www.SouthernCT.com.  Writing Real Estate Statistics since 2001 for the Weston Forum.

Dear Gail:

“Congratulations on being a part of NRT’s Top 1,000 Sales Associates in the 3rd quarter of 2010. Given the ongoing challenges of today’s real estate market, this is a notable achievement indeed. You have demonstrated perseverance, focus and the ability to achieve extraordinary results.

To put this distinction in perspective, you ranked 195 among our 45,000 sales associates across the country.

Your commitment to excellence and dedication to unparalleled customer service are winning combinations for both you and for NRT. I thank you for that dedication and am honored to work with you as part of the NRT family.

I wish you continued success in the coming year.

Bruce Zipf
President &CEO
NRT LLC

Gail Lilley Zawacki is one of the premier real estate professionals in the US. In her 14 years as a realtor, she has received 27 major awards, including four in 2008 and 2009. She is a trained Relocation Specialist, a Previews Property Specialist, a New Homes Specialist, a Waterfront Specialist, and holder of professional designations of GRI, ABR and EPro.

In accepting the Agent of the Month Award, Lilley Zawacki said:   “More than ever, buyers and sellers need experienced perspective on what to expect in this challenging environment. A detailed view of the numbers is important, but so is having a point of view on what’s really moving the market. In demanding market environment like ours, I’m proud to be Agent of the Month.”

“Gail is among a leading group of outstanding real estate experts in the area. She maintains the highest standards of professional service to both buyers and sellers” said Kate Rossi, president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y.

Gail is affiliated with the Coldwell Banker Residential Brokerage office in Westport, Ct, located at 472 Riverside Ave. She can be reached there at (203) 856-9949.

Date: Tuesday, September 22, from 2-6 PM.

Location: 73 Lords Highway, Weston CT

Directions: Route 53 to 73 Lords Hwy, just before Birch Hill, on the right.

The event will showcase the work of noted local artists and feature offerings from local merchants, with a portion of the proceeds going to the DVCC. There will also be a Silent Auction with goods and services donated by 17 local businesses and individuals.

Participating local artists are Cecilia Fradet, the late Victor Olson, Kerri Rosenthal, Eve Stockton, and photographer Debra Somerville, all of whom have shown their work in galleries throughout the US.

There will also be on-site displays from three local businesses where visitors may purchase items:  Rose Garden Boutique (Women’s and Men’s Fashions), Lynne Ostilly (handbags, belts, capes, and evening bags), and Mary Bottero (Arbonne Facial and Skin Products, and Arbonne Bio Nutria Nutrition Products).

The silent auction features a treasure trove of products and services from local businesses like Rick Garcia Salon, Touch of Europe of Westport, Lang’s Pharmacy, Douglas Cosmetics, Beautiful Faces, Silvers of Westport, and many others.

Wine and Cheese will be served, courtesy of Peter’s Wine Shop and Peter’s Market.

Gail Lilley Zawacki, who is hosting the event, said: “The important part of this event is support for the vital services our community receives from the Domestic Violence Crisis Center. In just one year, 2007-2008, they helped over 4,000 victims of domestic violence, and conducted education programs, events, and seminars for 17,000 children and 7,000 adults. Everyone can help the Center by joining us to view the artwork, talk with the featured merchants, and participate in the silent auction. The generosity of these business owners is gratifying…the community is coming together to help each other.”

The Domestic Violence Crisis Center helps victims and their children find ways to live their lives in peace, without the threat of violence, intimidation or abuse. With a professional staff who have years of experience and expertise in the field of domestic violence, the agency offers free and confidential services that include court and legal services, group and individual counseling, temporary shelter, housing services, children’s services, medical advocacy, multilingual services, PeaceWorks prevention education and a 24-hour hotline (1-888-774-2900). With offices in Stamford and Norwalk, DVCC is the only domestic violence agency serving the communities of Stamford, Norwalk, Westport, Darien, New Canaan, Wilton and Weston.

Contact Gail at (203) 682-9444 or Gail@SouthernCT.com for more information.

Lilley-Zawacki was in the Top Three of the State of Connecticut and the Top Five in Connecticut and Westchester, NY, an extraordinary accomplishment for any market, much less 2008.

Lilley-Zawacki says “As the market becomes more difficult, buyers and sellers are more responsive to detailed interpretation of market conditions and substantiated advice on what to expect in both the buying and selling processes. It’s more than just knowing the numbers, it’s having perspective on what’s really moving the market. That’s the perspective and the service I provide…and that’s why I’m successful.”

“Gail is among a leading group of outstanding real estate experts in the area. She maintains the highest standards of professional service to both buyers and sellers” said Kate Rossi, president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y.

Lilley Zawacki is affiliated with the Coldwell Banker Residential Brokerage office in Westport, Ct, located at 472 Riverside Ave. She can be reached there at (203) 856-9949. Locally, she is an active volunteer serving the Bridgeport Rescue Mission and Domestic Violence organization.

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company in Connecticut and Westchester, N.Y., operates more than 50 offices with more than 2,200 sales associates serving the communities of Connecticut and Westchester County, N.Y. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information, please visit www.ColdwellBankerMoves.com.

Lilley-Zawacki will receive the prestigious Coldwell Banker® International President’s Elite award. This honor is awarded to the top one percent of the approximately 108,000 sales associates worldwide in the Coldwell Banker® system. She has placed in the Top Three of the State of Connecticut and the Top Five in Connecticut and Westchester, NY, an extraordinary accomplishment for any market, much less 2008.

Lilley Zawacki reached the pinnacle of her profession nationally, having been accepted last week as a Member of the Top 5 in Real Estate Network®, the most prestigious of all industry achievements. The Network is carefully selected and managed by RISMedia, which has provided the real estate industry with objective, unbiased news for nearly 30 years.

In addition, Lilley Zawacki received the Associate of the Month for January, 2009, as she did four times in 2008.

With more than fourteen years experience, Lilley Zawacki has been trained as a Relocation Specialist, Previews Property Specialist, New Homes Specialist and Waterfront Specialist and holds the professional designations of GRI and ABR, EPro,

Lilley-Zawacki accepted the honors, saying: “As the market becomes more difficult, buyers and sellers are more responsive to detailed interpretation of market conditions and substantiated advice on what to expect in both the buying and selling processes. It’s more than just knowing the numbers, it’s having perspective on what’s really moving the market. That’s the perspective and the service I provide…and that’s why I’m successful.”

“Gail is among a leading group of outstanding real estate experts in the area. She maintains the highest standards of professional service to both buyers and sellers” said Kate Rossi, president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County, N.Y.

Lilley Zawacki is affiliated with the Coldwell Banker Residential Brokerage office in Westport, Ct, located at 472 Riverside Ave. She can be reached there at (203) 856-9949. Locally, she is an active volunteer serving the Bridgeport Rescue Mission and Domestic Violence organization.

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company in Connecticut and Westchester, N.Y., operates more than 50 offices with more than 2,200 sales associates serving the communities of Connecticut and Westchester County, N.Y. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices.