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Old 08-18-2016, 04:15 PM
 
2,005 posts, read 2,088,220 times
Reputation: 1513

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Quote:
Originally Posted by CT_Yank View Post
Hi,

My last advice on house hunting in these areas is to negotiate..hard. Look at place 50k-75k above your range. I was looking signficantly below your range 550-580k and my last straw with Ridgefield was seeing 4 houses that needed a lot of work or shoddy work and no garage for 550k. I told him that the prices were ridiculous and would never go for those anounts. Sure, enough after 8 months on market each one dropped 15-20% into 450-475k range. The home I bought in 2015 in Fairfield that started $150k more than my final purchase price. People are still delusional. I found Ridgefield more so though as if Ridgefield commanded something. Realistically, it is secluded and rough commute to NYC so it should have cap on its value plus few sewer or gas,lines and electric lines go down more often in rural areas. Need a generator to live there. Ridgefield got hammered during downturn and would expect so again. Fairfield has a lot more inventory and easier to identify comps. Look around and research before deciding
"Ridgefield got hammered during downturn"

Proof of that? Because I think it's BS...
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Old 08-19-2016, 06:22 AM
 
747 posts, read 1,011,952 times
Reputation: 355
one step further, if your agent is savvy and adding value as a buyer agent, they can break down per sq. ft. by house type and neighborhood, so you can really hone in on appropriate value (i.e., help you develop a rational offer price).

in many lower ff county towns, there's a few eye popping sales prices. same as nyc, for example. totally skews the avg. #'s. in a relatively low volume market, a handful of low-mid 8 digit home sales have absolutely nothing to do with a 3k sq. ft. ranch or cape built in 1960, yet it influences macro per st. ft. analysis.

a lazy agent will ignore that and just give you generic avg. #'s, which can lead you to overpaying.

Quote:
Originally Posted by kidyankee764 View Post
This only means Westport likely has larger homes. To compare apples to apples, PPSqF is the most accurate way to judge expense of a community.
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Old 08-19-2016, 06:44 AM
 
570 posts, read 477,553 times
Reputation: 618
Quote:
Originally Posted by SeaDoo342 View Post
"Ridgefield got hammered during downturn"

Proof of that? Because I think it's BS...

I don't have articles but I was looking north of town near mamanasco and rainbow lakes circa 2011 Several homes were shockingly below 2000 level. I think it is well known that northern FFC got hammered hard. You are right that in or close to Ridgefield town center probably did no worse than anywhere else during downturn. I heard from many agents that city people bought summer homes in north Ridgefield during bubble and got caught up really bad.
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Old 08-19-2016, 06:48 AM
 
Location: Riverside, CT
786 posts, read 824,099 times
Reputation: 353
Quote:
Originally Posted by Raider111 View Post
Never say never, sure it would, in Shippan and Rowayton it could be close to $1M. In East Norwalk right about there - $700K. I imagine other areas of Stamford - easily 700K or more.
You are newer to the region and not as familiar with the real estate dynamics involved here as I and some of the other posters here are. School rankings are a definite factor but not the only factor.
It always surprises me when people think certain neighborhoods are wealthy or more well off than Westport. Norwalk/Shippan Point/Rowayton just aren't up to par. Lets do them one at time..

6 bdr in Shippan Point for 595k. Lol at 1m

1860 Shippan Ave, Stamford, CT 06902 - Home For Sale and Real Estate Listing - realtor.com®

4 bedroom in Rowayton for 550k

16 Arnold Ln, Norwalk, CT 06853 - Home For Sale and Real Estate Listing - realtor.com®

4 bedroom in East Norwalk for 439k
32 Emerson St, Norwalk, CT 06855 - Home For Sale and Real Estate Listing - realtor.com®

Double SFT (3200 sft) of the home in Westport in North Stamford, with a pool for 684k

192 Barclay Dr, Stamford, CT 06903 - Home For Sale and Real Estate Listing - realtor.com®
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Old 08-19-2016, 06:54 AM
 
21,619 posts, read 31,202,923 times
Reputation: 9775
Why are you so hell bent on proving Westport is wealthy or "more expensive"?
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Old 08-19-2016, 06:58 AM
 
Location: Riverside, CT
786 posts, read 824,099 times
Reputation: 353
Quote:
Originally Posted by kidyankee764 View Post
Why are you so hell bent on proving Westport is wealthy or "more expensive"?
I'm not but when someone quotes a previous post of mine saying that same home could fetch 1m in Shippan and Rowayton (!) people are going to assume that's accurate, when in reality, its not.
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Old 08-19-2016, 07:26 AM
 
21,619 posts, read 31,202,923 times
Reputation: 9775
Quote:
Originally Posted by beerisgood02 View Post
I'm not but when someone quotes a previous post of mine saying that same home could fetch 1m in Shippan and Rowayton (!) people are going to assume that's accurate, when in reality, its not.
Post PPSqF of completed transactions. That's what determines an areas worth. Homes on the market mean nothing.
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Old 08-19-2016, 08:20 AM
 
21 posts, read 18,347 times
Reputation: 15
Quote:
Originally Posted by Raider111 View Post
Drive on these roads;

Pequot
Harbor
Sasco Hill - all the way to the end
South Pine Creek - all the way to the end
Mill Hill Terrace
Mill Hill - turns into Warner Hill
Bronson
Southport Terrace
Penfield
Rowland
Lalley

True Ridgefield is more bucolic and homogeneous in nature, but nothing there really compares to the streets above.
Excellent, thank you! we will!
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Old 08-19-2016, 08:22 AM
 
21 posts, read 18,347 times
Reputation: 15
Quote:
Originally Posted by CT_Yank View Post
Hi,

My last advice on house hunting in these areas is to negotiate..hard. Look at place 50k-75k above your range. I was looking signficantly below your range 550-580k and my last straw with Ridgefield was seeing 4 houses that needed a lot of work or shoddy work and no garage for 550k. I told him that the prices were ridiculous and would never go for those anounts. Sure, enough after 8 months on market each one dropped 15-20% into 450-475k range. The home I bought in 2015 in Fairfield that started $150k more than my final purchase price. People are still delusional. I found Ridgefield more so though as if Ridgefield commanded something. Realistically, it is secluded and rough commute to NYC so it should have cap on its value plus few sewer or gas,lines and electric lines go down more often in rural areas. Need a generator to live there. Ridgefield got hammered during downturn and would expect so again. Fairfield has a lot more inventory and easier to identify comps. Look around and research before deciding
Thank you, good to know! I've noticed house prices there are sort of all over the place, big differences between houses that seem comparable otherwise...
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Old 08-19-2016, 08:33 AM
 
2,971 posts, read 3,180,209 times
Reputation: 1060
Quote:
Originally Posted by beerisgood02 View Post
It always surprises me when people think certain neighborhoods are wealthy or more well off than Westport. Norwalk/Shippan Point/Rowayton just aren't up to par. Lets do them one at time..

6 bdr in Shippan Point for 595k. Lol at 1m

1860 Shippan Ave, Stamford, CT 06902 - Home For Sale and Real Estate Listing - realtor.com®

4 bedroom in Rowayton for 550k

16 Arnold Ln, Norwalk, CT 06853 - Home For Sale and Real Estate Listing - realtor.com®

4 bedroom in East Norwalk for 439k
32 Emerson St, Norwalk, CT 06855 - Home For Sale and Real Estate Listing - realtor.com®

Double SFT (3200 sft) of the home in Westport in North Stamford, with a pool for 684k

192 Barclay Dr, Stamford, CT 06903 - Home For Sale and Real Estate Listing - realtor.com®
you're cherry picking the low end. Nice try though.
See below, two recent solds (in just 43 and 74 days), and one currently under contract.
I have lived in this hood extensively in the past and it's most definitely up to par with Wilton Rd.
I'm sure I can find the same in Rowayton and Shippan but can't be bothered anymore, you get the point.
Out

Property Details - Listingbook

Property Details - Listingbook

Property Details - Listingbook
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