Why Some Buyers Don't want to Buy your house

Today’s buyers are more and more savvy about what is going on in the real estate market, most specifically about how long a house has been on the market, what it was originally listed for, and what it has sold for in the past. Thanks to websites like Zillow and Trulia much of this information is readily available.                                                                

Last year in Westport there were 433 single family home sales-a very respectable number.  What is often not realized is that in 2017 there were 215 single family listings that Expired before sale (with a median price of $1,495,000).  In addition, there were 249 Cancellation of listings (with a median price of $1,679,000). 

Looking at the pricing breakdown in more detail offers some interesting insights.  In the past 12 months there have been 176 properties sold that were listed under $1,000,000, and a total of 126 Expireds and Cancellations.  In other words almost 60% of the properties sold.

In the range of $1,000,000-1,500,000 there were 113 solds and 112 expireds and cancellations, or about 50% sold.

For properties listed between $1,500,000 and $2 million there were 94 solds and 85 expireds/canc. meaning that the odds of a house in this price range selling (53%) was actually higher than those listed between $1 million-1.5 million.

Between $2m and $2.5million, the percentages dropped slightly with 43 sales and 46 expireds and cancellations. That represents a 48% sales rate.

For homes listed between $2.5 million up to $3 million, ther were 24 sales and 42 expireds/cancellations, representing roughly a 35% success rate.

Not surprisingly,(because the buyer pool is smaller)  the success rate drops for homes listed at over $3 million.  There were 28 homes listed for over $3 million that sold last year and 72 expireds/cancellations representing a 28% success rate.

Many of these listings will come back to the market as new listings, and some are currently among the 242 current active listings.  The reason that the majority of these homes did not sell is due to several factors, though it usually boils down to two.  The first is presentation-whether the home compares favorably to similar homes on the market.  The second is price.

For those that would like to learn more I give a class at Staples high School twice a year re; How to Avoid the Costly Pitfalls when selling your home, in the spring and fall, or give me a call directly and I would be happy to look at your home and give you a free consultation.  

A look at Westport: Greens Farms & Compo Beach areas and Town-wide Real Estate market

The number of sales in Westport through the summer months of 2016 is currently identical to that of 2015, with 257 closings.  The median pricing town-wide is also nearly identical.  The median price in 2015 was $1,305,000 at this point in the year compared to $1,295,000 as I write this article. 

Greens Farms has seen 35 sales pass title, year to date, compared to 28 at this time last year.  Some of this increase can be attributed to increased sales under $1 million, 12 compared to 9 last year. On the high end (over $2 million), 2016 sales are 10 compared to 11 last year in Green Farms.  The median price in Greens Farms has dropped to $ 1,307,000 vs. $1,625,000 at this time last year.

The Compo Beach area has seen a drop in sales from 32 last year to 25 at this time of year. The high end sales are down to 12 thus far, compared to 18 last year.  This change is reflected in the median price which now stands at $1,677,500 compared to nearly $ 2.5 million last year.  The 6 sale differential could be seen in the $2-3 million range.  There have actually been 5 sales over $4 million this year compared to 4 last year, but 2015 also saw one nearly $12 million sale.

Smart Homes Becoming More Common

Smarter Living: How to Automate Your Home

Posted on Feb 1 2016 - 12:51pm by Housecall

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By Jim Burch

The home of the future doesn't just live in science fiction anymore. You can own it today. Better yet, it doesn't require thousands of dollars or long construction times. Home automation is available and affordable thanks to wireless Internet and smartphones. If you want to make your home smarter and work for you, look at these easy fixes to some of the house's longest-standing issues.

Beyond Health & Wellness

One of the biggest downfalls to completing your health and fitness goals is not a lack of motivation or discipline, but rather a lack of consistency. Stepping on the scale every morning, eating the right meals at the right time and remembering all your workouts in the gym can be tedious and overwhelming.

But when you win the morning, you win the day. So the first thing you should do when you wake up is step on the scale. The FitBit Aria Wi-Fi Scale takes your weight and body fat and sends it directly to your FitBit account online. Smartwatches like the Samsung Gear S2 can measure your sleep the night before and your steps during the day, so you don't have to give a second thought to crunching the numbers.

Beyond Lights

With the exception of incandescent to LED, lights haven't really changed in the last 100 years. They're more efficient and last longer, but you still have to remember to flip them off every time you leave the room (that's harder for some people than others). If you're looking for something better and more innovative, Philips has the answer.

The Philips Hue is an energy-efficient, long-lasting LED bulb with wireless connectivity, so you can control whether it's on or off, and how bright it is with more than just a switch. Want a light to shut off when you leave the room? Hue recognizes when your phone is away and shuts down accordingly. As an added bonus, the Hue can change colors, so you can adjust the mood in your home.

Beyond Temperature

Do you know about vampire energy? That's when the electronics and other devices you have plugged in are still consuming electricity, even when they're turned off. Computers and televisions are notorious for this, but your home's heating and cooling follows the same principle. When you are away at work for eight hours each day, your home continues to consume energy to maintain a temperature as if you were sitting in the living room.

Nest is a sleek, smart thermostat that learns your daily habits so it can raise or lower the temperature while you're gone to help you save money. It also connects wirelessly to your smartphone, so you can adjust the heating and cooling when you're away.

Beyond Security

You may already have a home security system, but it comes with a monthly fee. For example,ADT charges roughly $37 per month for its home-monitoring services, and that's just the starting price.

The Canary is a simple, all-in-one system that monitors your home's activity by watching (with its built-in camera) and listening to its surroundings while you're away. It connects to your Wi-Fi, so it sends you regular updates or emergency notifications if it detects a disturbance. It even measures the quality of air in your home to make sure everything is comfortable and normal. It can't contact the police or sound an alarm if there's a break in, but you are paying a one-time price instead of a monthly fee.

Born and raised near St. Louis, Mo., Jim Burch studied creative writing and journalism while working as an editor for the Murray State News. ​Jim's specialties range from movies and television, to consumer technology, and health and fitness.

A Grand House for under $ 1.4 million

This home would be closer to $2.5 million in Westport.  Located on Tubbs Spring Court in Weston.

Park-like 2.19 acre setting on a peaceful cul-de-sac, this outstanding custom home was completed in 2011 and incorporates high-level finishes; intuitive layout and special planning to take full advantage of the panoramic views. The two story entry w/ herringbone pattern wood floors opens to stunning living area; dining rooms, each with a fireplace. The kitchen/family room is an ideal place to entertain, with professional appliances, custom cabinetry, abundant pantry space & a wall of French doors leading to the amazing deck that spans the rear of the home. Stunning Great Rm w/ 2-story stone fpl. 5 BRs incl luxurious master suite w/ marble bath & dual w-i-clsts. Fin walk-out LL. 3 car garage, circ drive. Generator.
$1,399,000.