Home Buying in Stamford>Question Details

Maria Takats, Home Buyer in Norwalk, CT

I am looking for a 2 bed 2 bath garage/parking highrise condo in Stamford CT downtown for a period of 2 years

Asked by Maria Takats, Norwalk, CT Sat Jan 3, 2009

or possibly more. Should lease or purchase. If purchase what price range should I be facing?úű
Is it advantageous to buy cash and how long does the transaction takes


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I have a 3 bedroom that is probably in the range of a two bedroom in a doorman building in stamford.

We could come to some deal with cash and I am flexible in vacating and closing quickly. If your interested let me know how I can reach you to discuss it further.

0 votes Thank Flag Link Tue Apr 21, 2009
Hi Maria,

I see you've gotten some good answers here already. I would like to answer your question about how long a transaction takes. That answer varies quite alot these days. If you are buying a unit and paying cash, you could close in a matter of days, depending on what inspections you want to do and how long the Title search takes. The "normal" time, when a mortgage is involved, and people need time to pack, is 30-60 days. If it's a short sale, needing bank approval, it could take several months.

It's a buyers market and there are lots of good deals out there. Stamford has a wonderful selection of high rise condos. And I will be happy to help you find the right one for you.

Best regards,

Gail Giustozzi

Web Reference: http://www.iworkforyou.us
0 votes Thank Flag Link Sat Jan 3, 2009
Hi Maria.

Happy New Year.

Well, your questions have a broad range of answers, but let me see if I can help.

If by downtown you mean "walk to everything," there are a few good options. Two of my favories are The Biltmore (midrange) and The Classic (a bit higher end). You will find rentals and for sales in both, and there are a number of other highrises available too.

If you want to purchase, you can figure between $375k and $700k, depending on how "luxury" you're looking for. It's quite a broad range, I know. Once you decide what your criteria are, it's very easy to narrow that down. The Biltmore would probably be in the middle of that range and The Classic would be on the higher end.

For a rental, you're probably looking at between $1800 and $2400 a month, unfurnished.

Regarding cash vs. mortgage, that's probably between you, your accountant and your investment counselor (unless you're like me and all three are you). I will say the practical advantage of a cash deal is you can close very quickly, maybe even as soon as 30 days. With a mortgage you will probably want to allow 60-90 days to close. This of course depends on if the seller can move out quickly enough, but in today's BUYER'S market, most sellers are willing to do whatever possible to move on with their lives.

You are looking at a good time (if you don't need to sell). There is a lot out there in different price ranges. Of course, I'm happy to send you some listings to mull over. Feel free to call or email.

Have a wonderful day, and good luck.

Len Schwartz
Agent for a New Age
Web Reference: http://www.LeaveItToLen.com
0 votes Thank Flag Link Sat Jan 3, 2009
Maria, there is a large selection of condos in downtown Stamford with the qualities you want. Prices range from $325,000 to $690,000, depending on location, age, and quality. There are brand new units on East Main from $435,000. Are you currently working with an agent? I will be pleased to assist you in your search. I know Stamford and the surrounding areas extremely well. Pls call or email me; look forward to chatting with you.

Les Gordon
Juner Properties
Web Reference: http://www.juner.com
0 votes Thank Flag Link Sat Jan 3, 2009
Hi Maria,
In this market, you should definitely buy!! It's been 40 years since housing prices and mortgage rates have been this low at the same time! Of course, cash is always best because the seller then does not have to take the risk that you won't be able to get a mortgage - however, it you would prefer a mortgage but have the cash, I know an even better way to make any offer you put on the table more attractive.
I've been selling real estate in Stamford for over 10 years -- in fact, I currently have a highrise condo in downtown Stamford with garage parking, but it is only 1 BR. I would like to set you up on Listing Book, a powerful MLS system that allows you to access all the real estate that brokers have available to them --- my clients love it!
I will be in my office in 90 minutes (about 11:30). Feel free to contact me if you would like to chat, 203-249-1512.
0 votes Thank Flag Link Sat Jan 3, 2009
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