Richard Hamlin, e-PRO®, C.B.A.®

David,

Easton is a wonderful town to have on your short list. Two years ago, I assisted buyer clients on a search of Wilton, Weston, and Easton, and they chose Easton. They travel down Route 136 from Easton to Westport to the Merritt Parkway at exit 42 (Rt 57). then they take the Merritt to Norwalk's Route 7.

The train coming from Danbury to Norwalk stops right there at a commuter station. Their distance to that station is about 10.5 miles; yours would depend upon where you live in Easton. If you would be in the Southern part of town, the Merritt would likely be more accessable. The commuter trains make good connections fairly easy for you.

Keep in mind that both Route 136 and the Merritt Parkway (Rt 15) are loaded at rush hours. But, I know the back roads around most of the rush traffic.

RichardHamlin.com - Sat Jul 26 2008, 13:36

Dear Maria,

The short answer is, "Your taxes will virtually always go up." This fiscal year, July 1st through June 30th, the City of Stamford completed its 4-year re-assessment, shifting some of the property tax burden from residential to commercial properties. The assessment upon which the new July 1st tax bill is based was last October 1st's assessment, and the State requires each municipality to assess at 70% of that date's fair market value. The estimates of fair market value for assessment purposes, as of last October, were based upon public records of property transfers over the previous 18 months.

All this means is the numbers used by the tax assessor are already old by the October assessment date. Since the State requires the assessor to tax all properties "equitably", what is important is that the City's assessor use the same "yardstick" in comparing "values". If your property carries a $250,000 assessment, regardless of today's negotiated selling price, if should have been compared with other similar properties in the general $250,000 assessment range at the time it was evaluated.

Probably, the only concern you need to express to your Realtor® about the assessment vs. the price of the home you are targeting is if the tax assessment is higher than the price, not lower. You should hope and expect it to always be lower. If it is higher, that property might appear to be a slam dunk candidate for tax appeal, but you might not want to be the title holder when appeal time rolls around whereby you would have to be the one to file prove the reason for the appeal.

Try comparing the tax assessments of a number of $600,000 homes with the one you like. See how those properties compare, both in the land portion of the assessment, and in the "improvements". Improvements include the dwelling and any other structures such as a detached garage or pool. Your Realtor® can spreadsheet this for you, so you can see some of the variables that make up an assessment. Compare square footage of living space, lot size, basement vs. no basement, and you'll begin to see the difficulty an assessor's team can have in trying to assess equitably.

Stamford has 4 residential property tax districts, each based upon the City service received or not received. Your comparisons of actual tax bills should be made within the same tax district as the target property. Again, your Realtor® can help you sort this all out, but don't spend a lot of time worrying about this to the extent you miss out on your otherwise ideal home.

Typical annual property tax increases usually run between 2% and 4%, with the actual rates set in May each year, after the appeals are settled. Tax increases come regardless.

RichardHamlin.com - Fri Jul 25 2008, 02:50

Barbara,

The Westover area in Stamford is a wonderful area. There are many excellent neighborhoods, and a couple of private residential communities, as well. Westover Road is a busy North/South artery, and will be busy at rush hours. So will Stillwater Road to the East of Westover Road. These arteries feed these great neighborhoods, making getting in and out rather good.

Zoning wise, not all properties are one-acre properties. Some are smaller to much smaller, but the entire area is great. One-acre properties are often compared with those in North Stamford, North of the Merritt Parkway. The Westover area is a good location for those using the Old Greenwich train station, or needing regular access to I-95.

Directly to the West of Westover Road is the Stamford/Greenwich line. Check out the home page on the site below to compare the mean home prices of Stamford with Greenwich, and you'll see why some folks like to be close to Greenwich. - Thu Jul 24 2008, 12:41

Dear Home Buyer,

It's always unfortunate when a buyer feels he must release his binder after learning things about the property from his building inspections. No matter how carefully your pre-inspect a property, a professional set of inspections will turn up both the good qualities and less-than-good qualities of the property. Many times, my buyer clients and I use the inspection findings to negotiate more out of the seller. Our photos and videos from these inspections can make these arguments very compelling. For example, we would usually prefer to negotiate dollar credits back at closing than to accept the seller's making repairs. The reason should be fairly obvious.

The inspections you hired should be considered your best insurance, and a good investment, especially if they prevented you from making a mistake. No astute buyer, in my opinion, would be wise to accept or rely upon another's inspection reports, even if he got them for nothing. The quality of the inspections can vary greatly, as can the credentials of the inspectors. This is not the area to short cut, or go frugal.

Chalk it up to experience, and learn from it. Then, negotiate your next purchase with these costs in mind, and see if you can't absorb these costs in the next deal so the pain goes away. Usually, the replacement turns out to be better than the original. You'll survive.

RichardHamlin.com - Thu Jul 24 2008, 12:26

Joe,

Hubbard Heights is an older neighborhood that, 50+ years ago was an area that attracted medical personnel from nearby Stamford Hospital. There is a nice Hubbard Heights neighborhood association, and I believe it still may have its annual picnic in the summer. Many of the homes are older, large homes, with colonial, tudor, and ranch style, among others. To the West lies the City's E. Gaynor Brennan golf course, one of two city-owned golf courses. To the South is the hospital. Within the community is a parochial school and convent. The streets flanking the neighborhood on the North and South are through streets, and busy much of the time, so getting in and out is easy. To the East is Scalzi Park, with lighted tennis and basketball courts, and Cubeta Stadium, abutting Hubbard Heights. The community is on Stamford's West Side, just a few blocks from elementary and middle schools, and the downtown.

This is a fine area, with some respected history. Property appreciation can be expected to be reasonably good, providing the older homes are well maintained. As with anywhere else, a 75 year old home, neglected for years, may be expected to become a money pit. Choose wisely.

RichardHamlin.com - Thu Jul 24 2008, 12:10