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We are looking for a single family home in Fairfield, CT in 550K+ range and I have a few quick questions on where to start with....
- Any Recommendations on where to find exclusive buyer agents that deal with properties in Fairfield, CT ? Any recommendations on agents that you have dealt with in the past?
- Are there any specific areas in fairfield that should be avoided?
- Any tips for first time home buyers? Please feel free to offer any other information that newcomers like me might find helpful.
Generally, all of Fairfield is good but there are some areas that are less desirable than others. In choosing a neighborhood, a lot will depend on what you expect to get for your money. In your price range, it will be hard to find a well improved home in a better neighborhood. There seem to be a number of newer attached homes in the Tunxis Hill area or some older homes that need some work in nicer neighborhoods. It is your call which suits you best but remember you can change a home in time but you cannot change its location. Good luck, Jay
Jay's 100% right, but don't be discouraged. We bought in Fairfield last year with a slightly higher budget, and our friend bought with a budget similar to yours a few months ago.
The best advice I could give is this - pick an area you want based on your needs and wants (all of Fairfield is very nice, don't get hung up on school ratings or other things like that), then find the house. You prob won't find perfect and amazing, but good enough for a start.
I couldn't recommend our RE agent enough - Ann Tonucci @ Prudential was a god send. We spent 2-3 weekends a month for 5-6 months searching for a home (with a pregnant wife and 2 year old in tow). She was simply amazing and patient, and had a great habit of showing us homes that were actually within our budget - there was no reaching or creep with her. We still keep in touch with her and our aforementioned friends used her and found a place in a few weeks too. If you call her, pls tell her Jesse and Aya referred you to her. Ann Tonucci: Prudential Connecticut Realty
You'll also want to get pre-approved for a mortgage, or at least get the paperwork started. I recommend Bill Robertson at Luxury Mortgage just as enthusiastically.
In fact, here's my Fairfield "Dream Team" that I've recommended to several people:
Home Inspector - this guy was amazing, but a little expensive ($800 vs about $500 - worth every penny though)
Tom Schlotter
203-748-0400 tom@allied123.com http://www.allied123.com/
Like Jay said, don't get too hung up on the schools or specific neighborhoods. In your price range, you won't get much in the University or Beach areas, and probably nothing in Greenfield Hill, but you can find a nice smaller home or a larger home which needs updating in areas like Fairfield Woods, Stratfield, or Tunxis Hill. Fairfield is very much about location, or specifically which neighborhood you are in -- a house that costs $600k in Stratfield could easily cost $800k for the same exact house in the University area.
As for areas to avoid - there aren't really "bad" areas... it all depends on your need. Do you want more neighbors, walk to the train/downtown, close to Black Rock Turnpike (lots of shopping, not really a Turnpike), larger plot of land? Do you want the yard to be flat, or the house to be fully updated? Lots to choose from, but from what we've heard from our agent (we've been trying to sell) the good houses between 500-700 are disappearing quickly. Be prepared to go see a house within days of it coming on market and bid at or over asking... it's like 2005 in some areas.
Appreciate if you could also help me recommend any exclusive buyer agents.
If you don't get a recommendation, you could contact the NAEBA for a member in the area. However, another web site said there were no exclusive buyers agents in Connecticut.
Last edited by goldenage1; 05-14-2013 at 08:13 AM..
Thanks Folks! That was really helpful. Also do I need a pre-approval to start looking around interested properties that do not have an open house? Also how is a pre-approval different from pre-qualification? Which one do I need to begin with?
Thanks Folks! That was really helpful. Also do I need a pre-approval to start looking around interested properties that do not have an open house? Also how is a pre-approval different from pre-qualification? Which one do I need to begin with?
Pre-qual is nothing, you'll want to talk to a mortgage broker (I recommended one earlier) or a bank to get pre-approved, where they actually look at your finances. You can google the terms for more explanation. This is helpful because you may be able to afford more or less than you think, and manages your expectations better.
It gets the tedious paperwork started so you can move more quickly once you find a place you want to bid on. It also lets your RE broker, and potential sellers, know you're a serious buyer and that moves you towards the front of the line in terms of preference.
Get the process for pre-approval started ASAP. It doesn't cost anything and you'll need to do it sooner than later if you're serious about buying a home. Best of luck.
Because the housing market is beginning to get stronger, it would be good to have pre-approval. It means you are serious in the eyes of the agent and seller. Jay
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