By Judy Szablak

Available housing inventory in Westport has slowly dwindled as it normally does this time of year, however competitive pricing is still important.

Featured Home: This home at 1 Fairview Drive is listed at $1,099,999. (CLICK TO ENLARGE) Photo courtesy of William Raveis Real Estate-Westport

One of the biggest mistakes that sellers tend to make on pricing is placing a value on a home based upon another that is available, and that is flawed thinking. Yes, it helps for positioning your home in the marketplace, but another house listed for sale is not an indicator of your property’s value.
 
Bottom line—a home that is still available has not yet sold. Pricing is determined on past sales, and if/when a buyer obtains a mortgage, the lender will send out an appraiser to value the property and make sure that the lender’s investment in a loan will be a prudent decision.

When looking to place a value on your home to sell, it is most important to make a careful review of the market, including what has recently gone under deposit, what has sold and market performance as it pertains to your home specifically.

By Judy Szablak

There are a few distinct windows of opportunity for anyone intending on embarking upon a real estate transaction in Westport during the holiday season.

Featured Home: This home at 49 Hillspoint Road is listed at $2,999,950. (CLICK TO ENLARGE) Photo courtesy of The Riverside Realty Group/ Westport

Although from now until January is not usually considered the most opportune time to buy or sell a home, this time of year has its own unique advantages for sellers and buyers.

Sellers have much less competition with other homes on the market than they will in the spring. And the holidays offer a special opportunity to decorate in a festive manner, thereby making a home feel more comfortable and inviting than it may have otherwise.  Just be very careful not to overdo it.

Buyers may also be able to negotiate a better price on a home based upon a variety of factors, including market time, condition and price range.

Regulatory review has begun on plans for an affordable housing development at 122 Wilton Road, across from Willows Medical complex, according to Alicia Mozian, Westport’s conservation director.

The 1.16-acre parcel at 122 Wilton Road sits at the busy intersection of Kings Highway North and Wilton Road. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

She said the proposal includes 48 units housed in a 64-foot building on the 1.16-acre lot as well as an alternate schematic with a 44-foot building and underground parking. 

Mozian said the acquiring party, Stamford-based Garden Homes Management Inc., is in the contract stage for purchase.

“The proposal is in the preliminary assessment stage and requires review by the Flood & Erosion Control regulatory authority,” she said.