Fairfield, CT Real Estate News

By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
  A Story from the "Coach":   Every morning in Africa, a Gazelle wakes up.   It knows it must run faster than the fastest Lion or it will be killed.   Every morning a Lion wakes up.   It knows it must outrun the slowest Gazelle or it will starve to death.   It doesn't matter whether you're  a Lion or a Gazelle,   when the sun comes up, you had better be running!     We were trying to find a way to describe how much we hustle for our clients.  This story seemed to capture the energy and enthusiasm that we strive to achieve.  So whether you're Buying or Selling, when the sun comes up you want the Tetreau Team working for you!   Have a Great Day,    Mike and    Fern
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
April 25, 2009 PERSISTENCE             Dedicated, full time, professional and successful!  We know the meaning of persistence.  We don't stop working until we find the most qualified buyer willing to pay the best price for your home.  Our Team is committed to doing the work to help you achieve your dreams. Your home is probably your most valuable asset.  Our Team gives you the service you deserve.  We would also be pleased to describe our innovative Sales Gameplan that makes it so much easier for the right buyer to find your home.  With all the information and all the homes now on the Internet, we can make your home stand out.             Today's Real Estate market is a challenge, it takes real Persistence to get the job done.  We thought we would share with you our inspiration. Here is...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Explanation of the Pension Funds and OPEB Funds This document is meant to provide a basic understanding of how the Town's Pension Funds and OPEB Trust Funds function. There are four funds - The Police and Fire Pension Fund, The Employee Retirement Fund, The Police and Fire OPEB Trust Fund and the Employee OPEB Trust Fund.  The Police and Fire Pension Fund is authorized and managed per the Town Charter.  The other three are set up and managed per the Town Code (or Ordinances).  There is a Board for each fund that is charged with the responsibility to invest and manage the fund.  The Pension Funds: These funds are set up to pay Town Employees Pensions upon retirement.  There are guidelines defining how long one has to work to be eligible and how much one is paid upon retirement. The amoun...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
What drives Real Estate Values in Fairfield County? There are two main drivers for Real Estate value in our area.  The first is proximity to New York City.  Not everyone commutes to NY but everyone competes against commuters for homes. Homes that are closer to NY are worth more in the Market.  This is one of the reasons average property values decline (or become more affordable) as you travel up the coast - Greenwich to Darien to Westport to Fairfield. For the most part, Fairfield is the last commuter town.  It is not that no one will commute from further out just that most commuters value living in Fairfield or nearer to NY.  For a commuter who makes the trek by Metro North every day, minutes count.  A home buyer will often measure the trip from a potential new home to the train statio...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Mike Tetreau named tops in Customer Service The William Raveis Real Estate Company announced today that Mike Tetreau had been earned the Excellence in Customer Service Award for January.  This award recognizes Mike for the dedicated effort and exceptional commitment to meeting his clients objectives.  In today's Real Estate market, this is no small accomplishment. "We are thrilled to have a professional like Mike on our team" said Linda Meyers, Vice President of Sales for William Raveis Real Estate. "His experience and creativity give him the perfect combination of skills for today's challenging market.  Mike and his team have proven that Service Excellence works in any market." With its motto of "Our Business is helping friends and clients every day," the Tetreau Real Estate Group was ...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
State wants to Tax Home Buyers 1%! OK, what could possibly make today's Real Estate market worse for everyone and kill off the Federal Economic Stimulus program?  Our very own Connecticut State Legislature. Bill #6397 is one of the bills to make it out of committee.  If it goes forward, it will take effect on July 1, 2009! This Bill requires HOME BUYERS to pay a 1% tax that would go to Towns and Municipalities to fund Open Space purchases, Brownfields and some other restricted uses (see below). This would have a very significant impact by making all Homes much less affordable in Connecticut. One Percent doesn't sound like much. But when a buyer is having difficulty coming up with a down payment and Closing Costs to qualify for a mortgage, one percent might really be 10 or even 20 percen...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
FOR IMMEDIATE RELEASEContact:    Kayla O'Brien        RISMedia's Top 5 in Real Estate        Phone: (203) 855-1234 x134        E-Mail: Kayla@RISMedia.com                  Michael Tetreau        William Raveis Real Estate        Phone: 203-255-6841        E-Mail: tetreaum@raveisre.com        Thursday, April 16, 2009        Michael Tetreau, of William Raveis Real Estate, Southport, CT, Named a Charter Member of North American "Top 5 in Real Estate Network®"    Local Realtor Earns Most Prestigious of all Industry Achievements        Norwalk, CT- Reaching the pinnacle of his profession nationally, Michael Tetreau of William Raveis Real Estate was accepted as a Charter Member of the Top 5 in Real Estate Network®, the most prestigious of all industry achievements.        More than just a sale...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Tax Credits - The Basics 1.       What's this new homebuyer tax incentive for 2009? The 2008 $7500, repayable credit is increased to $8000 and the repayment feature is eliminated for 2009 purchasers.  Any home that is purchased for $80,000 or more qualifies for the full $8000 amount.  If the house costs less than $80,000, the credit will be 10% of the cost.  Thus, if an individual purchased a home for $75,000, the credit would be $7500.    It is available for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  2.       Who is eligible? Only first-time homebuyers are eligible.  A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase. 3.       Ho...
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By Matt Listro, Your Credit Repair Expert
(National Credit Fixers - Matt Listro)
Connecticut Facts and Trivia #2   Here are 10 more fun facts about CT: In Hartford, you may not, under any circumstances, cross the street walking on your hands!   Connecticut is home to the oldest U.S. newspaper still being published: The Hartford Courant, established in 1764.   Connecticut has approx. 144 newspapers published in the State (daily, Sunday, weekly and monthly).   Connecticut is home to the first hamburger (1895), Polaroid camera (1934), helicopter (1939), and color television (1948).   The first automobile law was passed by the state of CT in 1901. The speed limit was set at 12 miles per hour.   The first lollipop-making machine opened for business in New Haven in 1908. George Smith named the treat after a popular racehorse.   Ella Grasso was elected in her own right to ...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
March 31, 2009 Budget Update - Well, the Board of Finance has finished voting and here is what we have: Town - $81,104,077 BOE - $140,065,961 Debt Service - 26,577,342 For a total of $247,747,380 This should represent approx a 1.75% tax increase. This is not exact. The calculation wasn't done last night. It has been a real education this year.  Certainly, there has been more public participation than prior years.  My compliments and appreciation are given to all the people that offered feedback and suggestions especially for the sincerity and respect contained in all the letters, emails and comments. Again, we did our best to balance the many needs of our Town.  The Budget now goes to the RTM for approval and perhaps modification.  It then may go on to Referendum if the public so choose...
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By Ruthman Real Estate
(Accessibility & The Power to Advise)
This is a very interesting article. It made me think and ask questions.  Commission rates up, but agents earn less Study reveals reverse trend in seller's market By Bernice Ross, Sunday, March 29, 2009 My comment was as follows: Is this an advertisement for Keller Williams? ..."KW reported a 2 percent increase their per-agent productivity while the National Association of Realtors reported a 2.9 percent decrease. What's fascinating about the KW numbers is that during the time that commission rates were falling, agents were actually making more in the average amount commission amount they were earning." Is that a subliminal recruitment post for Keller Williams? COACHING WITH COOL-AID* What is the goal of this tactical maneuver of mentioning your book? Book sales or home sales? Declaring ...
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By Ruthman Real Estate
(Accessibility & The Power to Advise)
There is no HOORAH for a change in housing.  Just a steady hum of hope for better days. I was reading the housing market headlines, and was trying to do the math. What is the public perception of the housing market based on these stories?      I see that home prices rose in January and home sales fell. Then I see home sales up, because prices are declining. These headlines are not so motivational to either the buyers or the sellers.  US existing home sales fall 5.3% in Jan - Reuters WASHINGTON - The pace of sales of existing home in the United States fell 5.3 per cent in January to a 4.49 million-unit annual rate, while home prices dropped to a six-year low and inventories shrank, the National Association of Realtors said First-Time Buyers Lift Existing-Homes Sales 5.1% - Business Spec...
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Thanks President Obama for the $8000, I mean $7200 credit for first time buyers! Just how close is Massachusetts or New York or even New Jersey for that matter? Can I commute from there to work in Stamford? CT has created Bill #6397 which is to tax buyers 1% and it is scheduled to go into effect July 1, 2009. Our sellers have a hard enough time understanding the conveyance tax...now a buyer purchase tax...for waterfront land, brownfields, and conservation? There are other restrictions but, the idea is clear...money needed and buyers are a nice target! I just keep thinking of my credit perfect client that didn't have much of a down payment (they produced 5% and took out 2 mortgages as recently as 2/14/09) At least he had a little money after the closing to have the kitchen carpet  (25 yr...
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Our businesses have changed so much in the last few years it is mind boggling sometimes.  There are 5 very iimportant numbers we need to educate our clients about which will affect the successful sale of their home. The number of home sales recently; the sales prices; the inventory; mortgage rates and affordability. If we appeal to their sense of logic and intelligence in this market (wrap it up nicely in your presentation face) you will surely impress. The last nugget comes into play with Location, Location, Location! This is what they need you for. You are the neighborhood expert and trending specialist. Start with the five though and you will win them over. Our clients are looking for someone to make heads and tails of everything they hear elsewhere!
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By Matt Listro, Your Credit Repair Expert
(National Credit Fixers - Matt Listro)
Credit Repair in Fairfield CT National Credit Fixers: 330 Roberts Street 4th Floor East Hartford CT 06108 phone: 860-282-6181 www.nationalcreditfixers.com National Credit Fixers boasts of 12 years experience repairing low FICO scores. Whether your credit has been damaged by a foreclosure, bankruptcy, slow credit, collections, judgments, repossessions, etc. we can help. We are the experts in credit restoration and credit repair.   Average FICO score increase in 6 months: 50 points   Score increase in 35 days 10 points or more 93% 20 points or more 71% 50 points or more 20% 100 points or more 10%   Score increase in 90 days 10 points or more 97% 20 points or more 82% 50 points or more 35% 100 points or more 20%   There are too many factors that make up the credit score, so it is impossib...
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By Ruthman Real Estate
(Accessibility & The Power to Advise)
New York Post Article:  Mon Amour! MONROE, CONN. IS LIKE FAIRFIELD AT A DISCOUNT Additional Monroe Connecticut Market Information provided by Ruthman Real Estate: January 1, 2009 to March 18, 2009 as per and limited to the Greater Fairfield County MLS: 12 Homes - Single Residential Properties have SOLD . Monroe, Connecticut Market Report - March 18, 2009 The average days on the market were 104. The average price is approximately $458,375. The median price is approximately $390,000.   Total Listings SOLD since 1/1/2009 Bedrooms Sq. Ft. Days on Market Sale Price Sold Price Price Per SF 1  SOLD  3  1204  43  $199,900  $203,000  $168.60 2  SOLD  4  2118  177  $299,000  $240,000  $113.31 3  SOLD  3  1034  15  $256,900  $242,000  $234.04 4  SOLD  3  1302  88  $287,000  $278,000  $213.52 5  SO...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
Here is an explanation of what it is like this year serving on Fairfield's Board of Finance.... This is a very difficult and challenging year.  We are currently facing a situation where we most likely do not have enough Revenues to cover the Expenses currently proposed - unless one is willing to make some very optimistic assumptions. We also have some key Expenses like our Pension Fund contribution not fully accounted for in the First Selectman's version of the budget. The current budget reflects something closer to a 4.5% Tax increase not the 3% that is being advertised.   To put this in perspective, we would have to cut $3 Million in Expenses just to get back to a 3% Tax Increase.  There is much work to be done. This budget came to us with several big "holes" that we have to fill.  Ev...
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By Mary Beth Grasso
(Keller Williams Realty)
Today I had the priveledge of having a transaction go South. I usually am a glass half full kind of girl but today my glass seemed especially full. I live in CT and drove up to Massachusetts to drive my mom to Dana Farber Cancer Institute for her monthly chemo treatment for ovarian cancer. This is because she fell and broker her hip 12 days ago and can't drive herself. As we entered the waiting area, she wanted me to look across the street at the new building that will house more space for DFCI (Dana Farber Cancer Institute) docs and patients. As I looked across (I am always interested in new construction...aren't all REALTORs?) the street I could see the huge steel beams that will eventually become the foundation, structure and integrity of that building of hope. On each beam...there a...
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By Mike Tetreau, ABR, CRS, GRI, Sales Vice President
(William Raveis Real Estate - Fairfield, CT)
This has been an absolutely beautiful weekend for this early in the year....and makes me just yearn for the coming spring and the time when Fairfield turns green with new life blooming everywhere.  And I know we don't need any bad news to spoil this feeling.....however, there have been some discussions about how long this current downturn might last and how quickly it might come back.  I believe we need to hope for the best but plan for the most likely...and be ready for something worse.  In a sense, we are all part of "management" and we all have an obligation to do what is the most prudent and safest course for the Town in the long run. After all, that is what we have been elected to do.   Here is a concise, straightforward article examining our economy in each segment and projecting ...
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