[JayCT]

Originally Posted by kidyankee764

I posted earlier about an acquaintance that sold his Greenwich walkable to train, downtown and restaurants home for a massive discount. They needed to unload it and weren’t getting what they wanted, so accepted a lowball offer. A look at recently sold homes does not scream “super hot”, and actually shows the opposite. That’s why I suggested the OP lowball.

Without specific information on the house it is hard to comment on it. This acquaintance could have overpriced the house to begin with so the listing got stale and sat. Or the house could be poorly located or needs a lot of work. This happens even in hot markets. As I said, home buyers today want walkable areas and homes in those neighborhoods are doing well.

As I have also noted I have a friend in Fairfield whose son builds new homes on tear down properties there and has no trouble selling them. They range in price from $750,000 to over $1 million and they are not even in the center/beach area. Another friends house in Greenfield Hill had an offer within a couple days. While the OP could try to lowball a home but they should be prepared to lose the house if it well priced and well located. Jay

[kidyankee764]

Originally Posted by JayCT

Without specific information on the house it is hard to comment on it. This acquaintance could have overpriced the house to begin with so the listing got stale and sat. Or the house could be poorly located or needs a lot of work. This happens even in hot markets. As I said, home buyers today want walkable areas and homes in those neighborhoods are doing well.

As I have also noted I have a friend in Fairfield whose son builds new homes on tear down properties there and has no trouble selling them. They range in price from $750,000 to over $1 million and they are not even in the center/beach area. Another friends house in Greenfield Hill had an offer within a couple days. While the OP could try to lowball a home but they should be prepared to lose the house if it well priced and well located. Jay

The home was neither poorly located nor did it need any work at all (move in ready). The home was listed in December, so not stale. Yes, the home was overpriced, because it’s a CT market. And it’s anything but “hot””.

I think we’re getting a bit off topic to the OP though.

[JayCT]

Originally Posted by kidyankee764

The home was neither poorly located nor did it need any work at all (move in ready). The home was listed in December, so not stale. Yes, the home was overpriced, because it’s a CT market. And it’s anything but “hot””.

I think we’re getting a bit off topic to the OP though.

So they overpriced it and put it on the market at the very slowest selling time of the year? No wonder it sat. Any agent will tell you this is a recipe for disaster. By the time people begin looking again after the holidays, the listing is stale. People will look at the price, the price per square foot.and the length of time on the market and think something wrong. They would be right and won’t even bother to look at it.

Since the OP has ruled out Greenwich, this is a moot discussion at this point. Jay

[kidyankee764]

Originally Posted by JayCT

So they overpriced it and put it on the market at the very slowest selling time of the year? No wonder it sat. Any agent will tell you this is a recipe for disaster. By the time people begin looking again after the holidays, the listing is stale. People will look at the price, the price per square foot.and the length of time on the market and think something wrong. They would be right and won’t even bother to look at it.

Since the OP has ruled out Greenwich, this is a moot discussion at this point. Jay

Well no, the reason I said it was overpriced is because they couldn’t get nearly what they paid for it in the early 2000s. Same thing with those back country estates that are selling at massive discounts. Technically they’re overpriced for the market. Unfortunately a lot of people use the term “overpriced” when talking about what is otherwise a very soft market.

[allanny13]

Originally Posted by kidyankee764

There are a ton of homes in all four towns between 800k and 1m. And as previously stated, looking at the discounts many are selling at, the OP can successfully put offers on homes between $1m and $1.25m and end up in their price range.

Anything at that price point is likely dated, small, or in a poor location/ on a busy street. Which is fine if the OP is willing to make that concession to get into the town. Although the higher end parts of these markets have languished, $1.5M and under is pretty hot if priced appropriate, you're not going to get a 20%+ discount. But you can certainly get way more for your money outside the FFC bubble.

[allanny13]

Originally Posted by olive03

Hmmm... something to keep in mind. We were definitely hoping for small town feel but some sort of town beyond what is described here.

Yes this is what I meant, I'm sure the community itself is close knit but not having a town is a major con compared to most other FFC towns. The closer you are to Westport (South Weston) the more convenient it is overall.

[kidyankee764]

Originally Posted by allanny13

Anything at that price point is likely dated, small, or in a poor location/ on a busy street. Which is fine if the OP is willing to make that concession to get into the town. Although the higher end parts of these markets have languished, $1.5M and under is pretty hot if priced appropriate, you're not going to get a 20%+ discount. But you can certainly get way more for your money outside the FFC bubble.

And you have to wonder - what’s “priced appropriately” mean? Less than 2007 prices? Less than 2010 prices? I keep hearing people say “overpriced” but what that really means is the house must be listed low to begin with.

And you can’t look at listed homes. Look at recently sold homes. In Darien alone, there are a ton of homes in decent locations that are very nice. The days of a dated box for $1m are over.

[CTartist]

Originally Posted by CTartist

I went through more of the posts quickly and I agree about Guilford.

Guilford has excellent schools, a beautiful coastline but it is a more laid back and less unpretentious town than Madison. Having said that Madison does not have anything like the "keeping up with the Jonses" attitude of the wealthy Fairfield County towns. It does not come close. But I would have to say IMO (but I am not expert) from what I have seen Madison is the most upper class town in the New Haven area.

House Beautiful thinks Guilford is a charming town too. Guilford is the only CT town on the list.

50+ Charming American Towns You Haven't Heard of But Should Visit ASAP.
https://www.housebeautiful.com/lifes...736QU&slide=43

[Stylo]

Originally Posted by CTartist

House Beautiful thinks Guilford is a charming town too. Guilford is the only CT town on the list.

50+ Charming American Towns You Haven't Heard of But Should Visit ASAP.
https://www.housebeautiful.com/lifes...736QU&slide=43

Re: your earlier post, Woodbridge is certainly the most affluent overall. But Madison has the flashy coast with $1 million+ waterfront which adds to the feel of wealth. Woodbridge is more subdued.

[CTartist]

Originally Posted by Stylo

Re: your earlier post, Woodbridge is certainly the most affluent overall. But Madison has the flashy coast with $1 million+ waterfront which adds to the feel of wealth. Woodbridge is more subdued.

That makes sense in bold.

My husband and I visit Madison in the summer and always go to Route 1 (Boston Post Road) where the little town is and then down to the beaches. So I am basically seeing the most elite people on the coast who might not even be there a lot when the summer is over.

Olive I would put Madison way up there on the list then. This also quells my fears about Madison. There are some stand alone condos a little north of Route 1 that I really like but was hesitant about Madison because I felt I would not fit in.

I forgot about all the many Yale doctors and professors that live in Woodbridge.