Westport, Connecticut Moves

Mention the beach, in Westport, and everyone knows you're referring to Compo Beach.  During the Revolutionary War, it was where the British landed, as they prepared to march on Danbury.  In 1920, it was where F. Scott and Zelda chose to enjoy their summer.  Today, it is where Westporter's go to enjoy the sand and surf of Long Island Sound, to picnic or explore the playground, to try out the skate park or the ballfields, to windsurf or launch their boats.  But, Compo is not the only beach in Westport. 

Just up the road, you will find Old Mill Beach.  Old Mill Beach is open to the public, but, in-season parking is restricted to local residents.  If you need a place to rest, after enjoying a walk along Hillspoint Road, there are benches, from which you can enjoy the scenery.  However, swimming is at your own risk.  There are no lifeguards, on this stretch of beach.

Just off of I-95, exit 18, you will find Connecticut's oldest state park, Sherwood Island State Park is open to the public, but charges a daily fee for parking, from Memorial Day to Labor Day.  The park encompasses one and a half miles of beach.  There are also fishing areas, picnic grounds and a concession stand. 

Perhaps, the least known beach in Westport, is Burying Hill Beach.
 

The beach is in the Greens Farms section, of Westport.  Access to the beach is down a narrow, inconspicuous road, situated along a salt marsh. 

Burying Hill Beach offers a quiet spot, away from the hustle and bustle, usually associated with the beach.  The beach is small, but there is a lifeguard, on duty, in season. 

Burying Hill offers a tranquil spot to picnic, observe the wildlife, and enjoy the scenery.  Adjacent to the seawall, there is also a wonderful pebbly beach, to explore. 

Who knows, you may even be able to catch a couple of the local crabs (crusteans, that is.)

I moved to Connecticut in October, 1973, just in time for the oil crisis.  The crisis was the result of an oil embargo by Opec member nations, plus Egypt and Syria, to punish those countries that had supported Israel, during the Yom Kippur War.

The immediate effect was not only a spike in prices, but a shortage of available gasoline, at the pumps.  "Filling up" became a carefully planned event.  If you had an odd-numbered license plate or a vanity plate, you could purchase gas on odd-numbered days.  Even-numbered plates could purchase on even-numbered days.  The 31st of the month was open to all.  In addition to knowing which day you could buy gas, you would also have to be prepared to wait in line for as long as two or three hours.

In February 1974, the government proposed Project Independence, a plan to make the United States energy independent.  In March, the embargo was ended by all the participating nations, except Libya.  Gasoline prices, which had averaged 35 to 38 cents/gallon, during the spring of 1973, surged to 55 cents/gallon, in June 1974.  With the lifting of the embargo and the rise in price, the gas shortage disappeared.  Apparently, so did our plan for energy independence. Prices spiked, again, in 1981, as a result of the Iran Iraq War, but it was not accompanied by a gas shortage. 

From the mid 1980's, until September 2003, the inflation adjusted price of crude oil was under $25/barrel.  After that, there was a steady rise, to just over $99/barrel, by Nov 2007.  During the first half of 2008, oil prices continually set record highs.  Prices touched an all time high of $147.27/barrel, on July 11,  Prices have abated, somewhat, and the national average for regular-grade gasoline is expected to average $3.84, in 2008.

Although average prices vary from state to state, one thing is certain.  Higher prices are here to stay.  Connecticut gas prices are the second highest, in the country, behind California.  Driving away from the pump, with a tab for $50, $60 or even $70 is taking a toll on everyone. 

Higher gasoline prices appear to be having an effect on how real estate business is being conducted.  Fewer agents are going out on Broker Tours.  Agents are coming into the office, less frequently. Many show up only when they have phone duty, need to file paperwork or attend a meeting.  Some agents are reluctant to service rental clients, instead referring them to the listing agent. Yes, I know, those renters may be next year's buyers, but this year's low ROI is the more immediate problem.

REALTORS® are more discerning about the buyers with whom they choose to work. Driving around with tire kickers is just too expensive.  In some cases, agents may be demanding that their buyers be pre-qualified, before getting in the car.  For sure, agents still have a fiduciary responsibility to do the best job possible, for their clients.  However, nowhere does it say they must work with every Tom, Dick and Harry.

Perhaps, we as agents will start to conduct our real estate activites, more like a business, which it is.  Certainly, the use of our cars is an integral part of our business.  We still need to service our listings, putting on keyboxes, hosting Open Houses, checking out new competitive listings and sometimes meeting with our homeowners, to review and counsel them.  We will continue to conduct town tours, for our relocation clients.  We obviously need to drive our buyers, to see the homes they want to visit. Perhaps, however, by honing our upfront interview skills, we can do a better job of selecting the homes to see and spend less time viewing inappropriate properties.   

Ultimately, if the cost of doing business becomes too high, our ranks may diminish.  What's happening in your market?

Copyright © 2008 Marilyn Katz, All Rights Reserved, Active Rain - High Gas Prices- its effect on the real estate business

Downtown Westport will be a hotbed of activity, this weekend.                                                  

The Friends of the Westport Library will present the 15th Annual Westport Library Summer Book Sale.  The sale will open on Saturday morning, at 9 A.M. and run through Tuesday afternoon. at 1 P.M. 

Both new and used books, will be sold, including some special collections.  Tables will be arranged by category and there will be a separate tent for children's books.

   
Another tent will feature audio-visual materials.  Audio books will be available in CD and tape format.  For  those of us who remember what a record is, there will be a collection of 78's.

In all, there will be over 70,000 books for sale, with prices starting at 50¢.  Admission is free and there will be no sales tax.  Visa and Master Card will be accepted.  On Monday, everything will be marked half-price and Tuesday, items will be free, with cash contributions welcome.  Proceeds will benefit the Library.

After you make your book selections, you can wander over to Parker Harding Plaza, where the Westport Downtown Merchant's Association will present the 35th Annual Westport Fine Arts Festival.  In addition to displays of artwork by 140 artists from the United States and Canada, there will be live music and dance performances, throughout the day.  The festival runs from 9 A.M. - 6 P.M., on Saturday and 10 A.M. to 6 P.M., on Sunday.

 After you feed the mind and soul, you don't want to miss the opportunity to feed the tummy.  This year, the Westport Farmer's Market has expanded its schedule to two days a week.  In addition to Thursdays, the market is now open on Sundays, from 10 A.M. to 2 P.M., in the Imperial Parking Lot, at the Senior Center.

Local vendors offer organic fruits and vegetable, fresh eggs, cheese, flowers and herbs and fresh oysters from Long Island Sound.

Rest up!!  It's going to be a busy weekend, in Westport

According to anecdotal evidence, there were lots of consumers house hunting, in Westport, CT, during the spring market of 2008.   However, half-year sales statistics do not reflect that activity.  Perhaps, expectations were too high.  Buyers, armed with media stories of puchases, 25, 30 or more percent, off asking price, came ready to buy their Westport dream homes, at bargain prices.  Instead they found moderating prices but no huge discounts.  Others could not move forward, on their purchase, because their current home had not sold.

Prices remained stable, when compared with the comparable period, a year ago.  Average sale price of a single family home rose less than one percent in 2008, to $1,690,810, compared with $1,677,291 for the first half of 2007.  Median sold price also remained flat, down less than one percent, during the first half of the 2008, at $1,339,000 vs. $1,350,000 in 2007,

Unit sales, however, painted a much different picture.  Only 121 single family homes sold, from January through June 2008.  That represents a 44 percent drop, compared with the first six months of 2007.  There are currently 357 active listings of single family homes, in Westport.  If the current sales rate, persists, that's an eighteen month supply of inventory.  Logically, that should exert pressure on sales price, but we haven't yet seen a precipitous drop.

Westport, Connecticut
     January-June  
      single family home sales

When you think of Westport, Connecticut, it doesn't usually conjure up a bargain hunter's paradise.  For Westport residents, however, a hands-down, favorite bargain is Longshore Town Park.  For $35, residents can obtain a handpass, which allows them to sign up for recreational programs, have free use of the Longshore swimming pools and for nominal additional fees, golf, play tennis and obtain boat launch permits. 

For tennis lovers, however, today was free!!  One day, each summer, Longshore hosts a Family Tennis Festival, to introduce town residents to this wonderful facility.

The Festival offered something for everyone.  There were Junior Clinics, starting with the 3-5 year old, PeeWee class.  Watch out Rafael and Venus. There are new champs in the making, just warming up.

There were also adult clinics, and for those preferring non-supervised hitting, the opportunity to demo some new Wilson tennis racqets.  Those with a competitive spirit, took part in a World Team Tennis Round Robin Tournament.

All that activity was a sure way to work up an appetite.  Not to worry - Joey's By the Sea, the Compo Beach concession stand,  provided hot dogs, hamburgers, pizza and drinks.

The Longshore facility comprises 9 HarTru soft courts.  During the summer, the courts are open from 8 A.M. to 9:30 P.M.  Courts are available for reserved play for 1 1/2 hour sessions.  On weekends and holidays, 7 courts are available for two morning sessions of Open Doubles, from 8-9:30 and 9:30 to 11:00.

There's still time to "shop 'til you drop", this weekend, in Westport, Connecticut.   Today was the first day of another of Westport's popular weekend summer events - The annual Sidewalk Sale.                             
Many shops, along Main Street and the Post Road, displayed their wares, outside their storefronts.  Others cheated the "Sidewalk" title, a bit and invited you inside, out of the heat, to take advantage of the weekend sale prices.

As a welcome contrast to the soaring gas prices, Westport vendors offered the opportunity to make selections from "50% off" racks, $10 per item" tables, 3 greeting cards for $1, choices and other sale and discount enticements

The weatherman is predicting a perfect weekend to  stroll downtown Westport.  The sale continues through this Sunday, July 13.  

Weather permitting, Westport will celebrate the 232nd anniversary of the adoption of the unanimous Declaration of the thirteen united States of America, tomorrow (July 3, 2008), with a fireworks display, at Compo Beach.

The beach will close at 4 P.M. and re-open at 5, for ticket holders.  Tickets may be purchased for $25/car, at the Longshore Recreation Department office or the Westport Police Station.  The fireworks will be set off at approximatley 9:15 P.M., from a barge anchored off the beach.  The show will, again, be produced by the Grucci family, the renowned firework artists, from Long Island.  The raindate is Monday, July 7.

Although Congress approved the adoption and wording of the Declaration of Independence, on July 4th, the actually signing took place a month later.  John Hancock's name, as President of Congress, was printed on the first published version, of the document.  His widely recognized "artistic" signature was entered, on August 2, along with the signatures of the other 55 delegates, to the parchment that is currently on display, at the National Archives, in Washington, D.C.

The ubiquitous use of the internet, has changed the way the real estate business is conducted.  With a plethora of sites available, buyers are able to conduct their own searches, for homes.  Many start their search, before contacting an agent, and most continue to search, on their own, even while working with a REALTOR®.

Consumers search in much the same way, as do real estate agents.  They enter the search parameters, such as town(s), price range, number of bedrooms and baths, square footage and acreage.  Whatever platform, they are using, then produces listings, that match their criteria. 

Here is where the search process takes divergent paths.  Using the listings chosen, the consumer gets to read the description and look at the pictures.  Both of these items are produced by the listing agent and meant to show the property off, to its best advantage.  Agents will also start with the description and pictures, but their market knowledge and expertise will allow them to filter out the properties that do not work, for their clients.  A picture may be worth a thousand words, but what isn't pictured may be more relevant.  The agents will already be familiar with the homes, having seen them on Broker's Tour, or if they haven't seen them, they can arrange to preview them. 

The picture of the gorgeous back yard, taken facing the back of the house, may not reveal that the property line is adjacent to the railroad tracks.  The updated bathroom vanity may belie the fact that the rest of bathroom is original 1950 American Standard pink.  Taken at the right angle, an eight by ten bedroom can look enormous. 

Of course, it can work in reverse, as well.  The listing agent may have posted some G-d awful pictures of a home that is actually charming.  Or the pictures may simply be poor quality.  I have seen some pictures that are so dark, it is hard to discern what room has been photographed.

When first working with clients, I will show them all the houses they've selected to see.  Once we have established that we are on the same wavelength, they will usually rely on my judgement to eliminate the listings that are a waste of our time.  Often the tour will include a combination of homes that the buyers have chosen, along with homes that I have added.

Recently, a buyer said to me, "As usual, the homes you picked are better choices than the homes I chose to see."  Searching, on the internet, is a great exercise, but it doesn't replace a knowlegable agent.

Copyright © 2008 Marilyn Katz, All Rights Reserved, Active Rain - A picture may be worth a thousand words - but doesn't replace an agent

Earlier today, Alan Nisen posted a blog about who was to blame for the sub-prime crisis.  He very cogently spelled out the responsibility of the mortgage brokers, the banks, Wall Street and the Government.  Certainly, each of these group have their share of blame.  However, some of the responsibility also has to lie with the consumer.

Granted, some homebuyers were naive and duped into believing they could "buy now, pay later",  However, I'm sure many realized, with little income and no assets, they would be turned down if they applied for a loan to buy a car.  Yet they chose to believe that they could purchase a house and through appreciation, it would pay for itself. 

I think this country needs a reality check.  I realize home ownership is the American Dream, but it used to be understood that, before you could purchase a house, you had to be able to afford it. 

The delusion is not limited to the low-income, poorly educated segment of society.  I've winced when supposedly intelligent people have told me of their plans to take a seminar to learn how to buy and sell real estate, with no money down.  I'm sure you've all seen the ads. 

 "Two years ago, I only had $1.98, to my name and now I'm worth millions.  You too can make a fortune in real estate.  Simply join the thousands of others who have learned to live the good life, by signing up for my seminar."

I'm astonished that they don't recognize the similarity to the old "snake oil salesman."  Is the dream of riches and the desire for instant gratification, so strong, that we, as a society, choose to view lottery tickets and get-rich-quick schemes, as the answer.

Unless we get back to the strong work ethic, that built this country, this will not be our last "crisis."

Westport is a terrific town to live in, year round, but, during the summer, it really shines (pardon the pun.)  A definite sign that summer is arriving (beside this week's 90+ degree weather), is the opening of the 101st Yankee Doodle Fair.

The Fair runs from Thursday, June 12 thru Sunday, June 15.  It is sponsored by the Westport Women's Club and serves as their major fundraiser, of the year.  All net proceeds benfit local charities. 

The Yankee Doodle Fair offers something for kids, of all ages. 


There are rides and kiddie game, weekend crafters, a food court, bake sale, plant sale and Sunday, farmer's market.

The Westport Women's Club is located at:
         44 Imperial Avenue, Westport

Fair hours are: Thursday 6-11 PM
                      Friday     6-11 PM
                      Saturday Noon - 11 PM
                      Sunday   Noon -  5 PM

The Yankee Doodle Fair is only one of Westport's many summer attractions.  Later in June, there is the June Benefit Horse Show, at the Fairfield County Hunt Club.  July brings the annual, weekend sidewalk sale, the Italian Festival and the 35th Annual Outdoor Fine Arts Festival.  Throughout the summer, you can enjoy the free concerts, at the Levitt Pavilion.  Or, if your taste runs to more formal entertainment, catch a show at the Westport Country Playhouse.

For visitors and residents alike, summer in Westport is a summer vacation.