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Monday Market Watch – Fairfield County Real Estate Market Watch

by Cheryl Scott-Daniels

185 single family home sales in Fairfield County were reported over the past week on the Greater Fairfield County Consolidated Multiple Listing Service (GFC CMLS). The average sales price was $741,598.

179 New single family homes were listed in the past week with an average list price of $671,672, resulting in a total of 4,168 single family homes currently for sale on the GFC CMLS.

Cheryl Scott-Daniels’ Monday Morning Fairfield County Real Estate report covers Fairfield County Real Estate market activity over the past 7 days to provide our readers with up-to-date market information they need to make an informed buying or selling decision.  Sign-up to receive Fairfield County Market Statistics Monthly.

Am I Ready to Buy a Home?

by Cheryl Scott-Daniels

Buying or selling a home is probably the largest personal and single most important financial transaction you will ever make. A change in residence is more than a financial or geographic move but an emotional one as well. There are many factors to consider when deciding whether or not to buy a home. The Real Estate Buyer’s Agent Council provides the following list of questions to help you to decide whether or not now is the right time for you to buy:

PURCHASING CONSIDERATIONS

·        If you purchase a home, how long do you expect to live there?

·        What can you afford to pay each month for housing-related expenses?

·        What are the total costs of home ownership? This may include mortgage payments, property taxes, homeowner’s insurance, utilities, and maintenance costs.

·        Do you expect these housing-related expenses to increase or decrease? For example, will your mortgage terms include varying interest rates change?  Or, if you are purchasing a home with a homeowner’s association, are you aware of any planned future assessments?

·        What additional expenses are required to complete a purchase? These costs include moving expenses and closing costs. Closing Costs Explained

  • How much will your home ownership costs decline after adjusting for interest expense deductions and property taxes (if applicable)?
  • Are local market prices favorable to purchasing? What are your expectations regarding future prices? Sign-up to receive the Fairfield County Real Estate Market Statistics Monthly Newsletter
  • Do you qualify for any special purchasing assistance programs that can help reduce the cost of home ownership?

RENTING CONSIDERATIONS

  • If you are now a renter, what are your total housing expenses? (Monthly rent, utilities, housing assessment, parking, etc.?)  
  • How do you rental expenses compare to the costs of owning your home?
  • Would your ability to customize a home that you own improve your lifestyle? 
  • How does renting vs. buying factor into your long-term investing goals?

OTHER FACTORS

  • What are your personal preferences regarding the type of housing in which you wish to live? How does location factor into your housing preferences?
  • How do you expect your personal situation to change, in terms of future housing needs?
  • What are your expectations concerning future employment?
  • What are your long-term personal and financial goals, with regard to housing?

As a highly trained, Accredited Buyer’s Representative (ABR®), I specialize in searches geared towards finding a home to meet your specific needs and providing you with the resources available to help you make the right decision for you and your family. We work closely with attorneys, mortgage brokers, building inspectors, tax assessors and others as needed to make the transition as easy as possible for our busy clients. Please contact me with any questions about the home buying processes or the Fairfield County Real Estate market. If you need help in other parts of the country, I would be happy to contact associates that I know and trust in other states.

 

The Accredited Buyer’s Representative (ABR®) designation is awarded by the Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of REALTORS® (NAR).

 

Monday Market Watch – Fairfield County Real Estate Market Watch

by Cheryl Scott-Daniels

243 single family home sales in Fairfield County were reported over the past week on the Greater Fairfield County Consolidated Multiple Listing Service (GFC CMLS). The average sales price was $680,892.

216 New single family homes were listed in the past week with an average list price of $857,981, resulting in a total of 4,208 single family homes currently for sale on the GFC CMLS.

 

Cheryl Scott-Daniels’ Monday Morning Fairfield County Real Estate report covers Fairfield County Real Estate market activity over the past 7 days to provide our readers with up-to-date market information they need to make an informed buying or selling decision.  

Displaying blog entries 1-3 of 3

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