Lorey and Meig's Weekly Real Estate Advice

There are a few clichés in the real estate industry that are extremely overused, and “Location, Location, Location” is not one of them.  The fact is, that cliché cannot be overstated.  A realtor can not say that phrase enough when guiding a buyer to purchase a new home, a seller in pricing his home or an investor for flipping his homes.  One should consider location as to where not to buy, and where to buy.  You can put a beautiful home anywhere, but it will only be as valuable as the dirt under it.  The thing to remember is that the phrase embodies everything about the location.  The state where the home is located, the town that the residents will become a member of and the street where the buyer will be turning into to get home are all important.  If you forget everything else, i.e. interest rates, curb appeal, “show ability,” layout structure, don’t ever forget that location is what really matters. 

Connecticut’s close proximity to New York and Boston combined with the picturesque shoreline and hills make Connecticut something out of a story book.  Nothing gives Lorey and I more pleasure than showing a potential buyer Connecticut for the first time.  Madison, in particular, has kept the charm of New England while monopolizing the advantages of being (geographically) close to Boston and New York.  This charm translates to appreciation in home value. 

The second step of reviewing location is prestige.  The prestige of the town’s name goes without saying in commanding top dollar for a home.  For example, Greenwich can command a high dollar because it is Greenwich.  You want to look deeper into the town than that if you are investing in the community, though.  The first thing you want to look at is the town’s reputation within the local community.  Special facilities, such as sailing, golf, beach etc., in a town create greater value.  The next step is the school system, not far behind that, though, is the taxes.  Of course, in an ideal town, the taxes would be zero and the school system would be the best in the country.  When I find that town, I will tell you all where it is.  Until then, remember an excellent school system is not just important for the people with children, it is important for resale.  In addition, a town also needs to have reasonable taxes.  This is a tight rope battle that most towns struggle with every year.  When choosing the town to live in you want to be aware of both factors.   

The final aspect of location to consider when buying a house, is the location of the lot itself.  Obviously being next to an oil refinery or truck stop goes without saying, but as we have already stated location does not only mean where not to buy.  It also means where to buy.  Once you have chosen the town, the idea is to buy as close to the town’s draw as you can afford.  For example, the Guilford Green is considered one of the most beautiful in Connecticut.  We have sold countless homes to people who wanted to buy in Guilford solely because of the Green.  In Madison, the three town beaches are a wonderful draw to the town.  Those two areas have certainly seen greater appreciation and less depreciation than the rest of Madison and Guilford.    

This all seems quite rudimentary and I am sure I have said nothing you haven’t heard a million times, but it is still important.  “Location, Location, Location” is not a real estate cliché, it is a real estate truth. 

Meig Walz Newcomb            203-996-7209

www.ct-estates.com

85 Liberty Street - Stately Federal near the Beach

Stately federal near the beach!!!  Greet your guests and family with a home that has the architectural distinction that recalls another era, while providing the comfort and convenience of 2011.  Originally built in 1885, this gracious federal home was completely redone by the current owners.  This stately residence provides a bright living room, delightful dining room; extensive kitchen connected to s a spacious great room.   Combine this with the high ceilings, large window and smart floor plan, this residence is in want of nothing.  Sacrifice nothing while living on Liberty Street, three car garages, walk in closets galore, three full bathrooms, butler’s pantry and so much more. 

PROPERTY:

Over an acre of land provides privacy and space for comfortable living.  The current owners have designed multiple outdoor rooms to relax and enjoy the gardens, the sun and admire their home. 

RESIDENCE:

Entering the residence one immediately feels the quality and craftsmanship in the construction of this home.  The high ceilings, the extensive crown molding, gleaming hard wood floor and extra large windows creates the elegant, stately atmosphere that this home exudes.  The spacious gourmet kitchen with an eating area opening to the large great room with vaulted ceilings, fireplace and French doors leading to the side garden presents a warm and inviting “heart of the house.”

MADISON, CT:

This home is located in Madison, CT close to the village and on the “beach stroll.”  Enjoy the convenience of being the halfway point between Boston and New York City, both are convenient by train.  Experience the summer’s “Farmer’s Markets,” lovely fairs and the concerts all on the Madison Green. 

For more information please call Lorey Walz at 203-619-4029 or Meig Walz Newcomb at 203-996-7209 or visit us at www.ct-estates.com. 

85 Island Ave - Privacy Near the Water

Privacy near the water is a “rare find.”   I know that “rare find” is an overexposed cliché by realtors, but in a town like Madison, Ct where most of the water oriented lots are quarter of an acre or less, this secluded lot totaling .59 of acre less than a tenth of a mile from the water is difficult to be duplicated.  If you then combine the fact that the home on the lot is a contemporized cape and the price at $625,000, a rare find is exactly what this property is.  

This four bedroom two full bathroom home needs love, but is perfectly situated on the lot to allow the owner to take full advantage of a large front yard.  In true contemporized cape fashion, the vaulted ceilings make each room feel even more spacious than they are. 

This is one of the houses people will look back at and say, “Can you imagine, they bought that house for $625,000.”  The current owners will defend themselves by saying it needed work, or it is not that great, but they will know it was a great deal.  The great deal will be compounded considering they will have a fixed rate mortgage at the current unheard of low rates.

For more information please call Lorey Walz at 203-619-4029 or Meig Walz Newcomb at 203-996-7209

Or visit www.ct-estates.com. 

Madison school system

Madison school system was successful in having their budget passed on Tuesday: the final total was 1326 to 469.  This is not a surprise, but a fine example of Madison’s priorities.   This is a town that has consistently respected the importance of education for the youth of Madison and overall value of the town.  The leadership of the town proposed a modest tax increase, and they were able to sell that increase to the town.  Congratulations to all. 

The Madison school system is major selling point to potential buyers in the town.  The fact that the town was ranked number six for education for your dollars by Forbes magazine only drives home that point.  The quality of the teachers, principals and superintendent is second to none.  This was confirmed when the J.M. Jeffrey Elementary School was honored as the 2009&2010 School of the Year by the Connecticut Association of Schools.  This was only possible because of the excellent principal Mona Goodman and the assistant principal Rachel S. Weiss.  The awards that Madison School System receives are endless. 

When buying a home, it is extremely important to review the town’s educational system.  This is even true if you never plan on sending anyone to the schools in that town.  The relationship between home values and the town’s school system are directly related.  Over the last 40 (combined) years of selling real estate in the “shoreline area” we have had countless buyers that only wanted Madison because of the school system.  When a buyer is considering the town, they often interview the principals of the appropriate schools, and that interview, the majority time, resulted in devoted Madison buyer. 

We always love showing people the wonderful town of Madison.  The three town beaches, the picturesque town green, the Environmental Educational Park of the Bauer Farm, and naturally the schools.  Please review our website www.ct-estates.com or call us at 203-996-7209.  We look forward to hearing from you. 

Lorey Walz and Meig Walz Newcomb

www.ct-estates.com

203-996-7209

Madison, CT School System