Winning the Real Estate Game in Fairfield in a Tough Market

Real Estate

January 1, 2013

Purchasing a home in Fairfield, Connecticut  is one of the best investments you can make; but like so much else in life, timing is everything.

Recent talk about subprime mortgages, falling property values, foreclosures and slow real estate markets in Fairfield are keeping more than a few homeowners up at night. The cure for those heebie jeebies is to get informed.

There are tons of tools available to help you realistically calculate how much you can afford to borrow in Fairfield, CT (either for a purchase or a refinance), and how much it will impact your budget. You can also search listings to see what homes in your area have been selling for. 

If you're trying to sell, keep in mind that little problems which seem familiar and trifling to you can be big turn-offs for prospective buyers:

  • Icky smells (cigarettes, pets, food): Invest in a good air filter or air freshener, open windows, whatever it takes.
  • Dirty kitchens and bathrooms: Really tackle these two areas to get them sparkling.
  • Dark rooms: Turn on lights, open curtains,
  • Dirty carpet: Consider having carpets professionally cleaned. 
  • Cluttered rooms and closets: Rent a temporary storage unit (or a good friend's basement) to stash your beer mug collection.
  • Barking dogs: send them to a friend or relative's house while your home is being shown.
  • A damp basement: Keep a dehumidifier going.
  • Poorly maintained front yard: spend some time mowing, trimming and pulling weeds. Add a pot or two of colorful flowers near the front door to create a welcoming feel.
  • Weathered or peeling front door: a fresh coat of paint and new hardware is an inexpensive boost that really pays off.

For buyers, lower prices make it tempting to purchase a Fairfield home in right now. But if the "subprime mess" taught us anything, it's that many people who felt pressured into buying a home with little or no money down are now feeling the sting of inflating mortgage payments. Take a breath and carefully assess if buying is right for you; in some cases, renting makes more financial sense. Find great rentals here.

And while selling or buying a place in Fairfield on your own may appear to save you a few bucks in commissions, a good Fairfield real estate agent can greatly simplify the process, saving you more time and money in the end (not to mention, sanity).

Remember, the Fairfield real estate game is best played over the long haul. So trust time to be on your side!