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Real Estate Report: More Signs of Improvement

By Judy Szablak

The National Association of Realtors latest report shows existing home sales rose 3.4 percent in April over March of this year, and a 10 percent increase over last year at this time.

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This home at 2 Joanne Circle is listed at $2,599,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Real Estate/Westport

Existing home sales in the Northeast rose 5.1 percent in April, and are 19.2 percent higher than one year ago. The median price in the Northeast is also up 8.8 percent from April 2011.

The group’s chief economist, Lawrence Yun, indicated that the housing recovery is underway. “It is no longer just the investors who are taking advantage of high affordability conditions,” he said. “A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,”

Meanwhile, the U.S. Commerce Department said today that U.S. home sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,000. It said demand for new homes was stronger than anticipated.

WestportNow Teardown of the Day: 4 Keller Lane

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An application for a permit to demolish the house at Westport’s 4 Keller Lane, off Turkey Hill Road North, is in process. Built in 1954, the one-story ranch has 1,101 square feet and is situated on a .26-acre property. Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commission. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings and Goings: White Birch Studio Opens

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White Birch Studio, a fine home design business, opened at 3 Sconset Square near Christ & Holy Trinity Church. The owner, Weston resident Susan Anderson, said a grand opening celebration with live music entertainment open to the public is planned for June 7 from 4 p.m. to 7:30 p.m.  She said regular business hours are Mon-Sat, 10 a.m. to 5 p.m.  The 1,700 square feet shop was formerly occupied by Rockwell Art and Framing which relocated to 236 Post Road East in January 2011. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Comings and Goings: Two-Week ‘Pop-Up’ on PRE

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TThe trend toward utilization of unoccupied storefront properties continues in Westport with the short-time arrival of Leftover Luxuries at 877 Post Road East, next door to Radio Shack. The pop-up shop, which provides a “gap between auction houses and tag sales,” is open from June 8 to 24.  Hours 10 a.m. – 6 p.m. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

WestportNow Teardown of the Day: 15 Yankee Hill Road

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An application for a permit to demolish the house at Westport’s 15 Yankee Hill Road, off Compo Road South, is in process. Built in 1979, the two-story contemporary has 5,266 square feet and is situated on a 1.01-acre property at the end of a cul-de-sac. It changed hands this month for $1.65 million. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Westport Property Transfers April 30 – May 4, 2012

Westport property transfers as reported by the Town Clerk’s office for the period April 30 - May 4, 2012:

Apple Tree LLC to 19 Apple Tree Holdings LLC, 19 Apple Tree Trail, $995,000WN <br /> property.jpg

Mary Jane Liu to Robert K. and Elizabeth T. Magnuson, 5 Raphael Way, $1,170,000

Trace and Tracey Gallagher to Daniel Colombi and Lisa Anne Bergstrom, 9 Sugar Maple Lane, $2,075,000

Michael S. and Dorit Sauer Raskin to Steven M. and Christina Zausner, 116 Harbor Road, $1,265,000

Phil Donahue Lists Waterfront Property at $27.5M

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The real estate listing contains these two photos of the house for sale.  (CLICK TO ENLARGE) Fingelly.com photos

Westport residents Phil Donahue and Marlo Thomas have put their Beachside Avenue property overlooking Long Island Sound on the market for $27.5 million, a record if the 7.56-acre estate sells at the asking price.

The celebrity couple—he is best known as a longtime TV talk show host, she for her “That Girl” TV series—bought the property at 120-122 Beachside Ave. in 1998. 

They had come under criticism in 1988 for demolishing a 1962-built experimental, all-concrete house on an adjoining property—which they sold in 2006 for $25 million, the current high for a Westport residential property.  (See WestportNow May 1, 2006)

Donahue denied he took down the house designed by John M. Johansen, the internationally known architect, to get a better view of Long Island Sound. He said he wanted more space, privacy and security for his family in their 17-room Tudor-style mansion. The vacant house next door was attracting “vagrants, lovers and other strangers,” he said.

Pizza to Go Now Staying

By James Lomuscio

In the latest spin on downtown pizza, Westport Pizzeria is staying put at 107 Main St., its home since Columbus Day 1968, owner Carmelo Mioli said today.

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Mel Mioli chats with an employee at Westport Pizzeria, a Main Street mainstay since 1968. (CLICK TO ENLARGE) James Lomuscio for WestportNow.com

Mioli had originally planned to relocate to 143 Post Road East, occupying the first floor of a building he had purchased as an investment in January. The reason for the move, Mioli said, was exorbitant Main Street rent and the need to be his own landlord.

Mioli’s plan was to have Westport Pizzeria occupy the space used by Joe’s Pizza at 143 Post Road East, the lease for which expires at the end of this month.

But this past week upon returning from Milan where he had visited his son, Francesco, who is studying abroad, Mioli had some good news waiting. Hiis landlord Malkin Properties, which owns the Empire State Building as well as myriad Connecticut holdings, had offered him a new Main Street lease Mioli said was acceptable. His present lease is up in December.

Real Estate Report: Conditions Perfect for Homebuyers

By Judy Szablak

Market conditions now are perfect for homebuyers, according to Moe Veissis, president of the National Association of Realtors.

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This home at Westport’s 4 Jennings Court is listed at $2,299,000. (CLICK TO ENLARGE) Photo courtesy of Prudential CT Realty Westport/Jonathan Deak & Associates

“For those with good credit, we’ve never seen better housing affordability conditions or market opportunities than we see at present,” he said.

The evidence is the organization’s Housing Affordability Index report for the first quarter of 2012. It clearly sets a significant milestone for home affordability.

The report measures the relationship of median prices to median family income, and the average mortgage rate.

Comings and Goings: Pizza Switch on Main Street

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UPDATE The Westport downtown pizza scene is about to undergo a major change. Joe’s Pizza, 143 Post Road East, owned by Wilton resident Joe Canicatti, will relocate in June to 190 Main St. in the Main Street Commons shopping strip, according to manager John Vukel.  He said that Joe’s Pizza has occupied its current location for six years. Its building has been purchased by Mel Mioli, owner of Westport Pizzeria at 107 Main St., one of the street’s icons for the past 43 years, which will relocate there, he said. However, Mioli later said Westport Pizzeria will remain where it is, and he will seek another tenant for 143 Post Road East. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com