You can google the topic and ge http://www.wiltonbulletin.com/20152/affordable-housing-what-does-it-mean/, which answers some of your question. Wilton has very little affordable housing. Wilton Commons, a new 62+ development, has 60 people on the waiting list. I suspect others like Ogden House are similar. Others in nearby towns are listed at http://www.publichousing.com/city/ct-wilton. Also, should you have find affordable housing, you have to ensure it lasts. http://www.wiltonbulletin.com/65046/avalons-affordables-returning-to-market/ details that units that were affordable are now market price, which probably means doubling the rent, at the least. A plan a year ago for a development with some 'affordable units' hit incredible opposition and rightly so, due to the placement of the structure. That was quashed. A new plan - http://www.westport-news.com/news/article/Wilton-Road-affordable-apartment-plan-hits-6776598.php - is hitting more opposition. It doesn't mean you might not find a house on a foreclosure sale, but the property taxes will kill you. I've noticed a slight uptick in people renting out rooms in their houses, probably to help with taxes.... more
Rock in a basement might have issue for the future buyers. If you have checked RADON and there is NO WATER ISSUE then you can cover it at least from 3 sides so it will become a bench for a sitting area ( i believe the rock is in the corner or at least towards wall ).
I can check in your house whenever you have chance.
Call me my cell is 203-685-4457.
Great question, thank you. This is a Petticoat Junction Train Station that offer FREE parking. There are about 140 spaces in total and I have never seen the lot full. As far as safety Wilton is a town not a city. I would be happy to offer you a "live" tour or advise you when I will be hosting my next open house. The house itself in completely move-in condition with fabulous updates and tremendous privacy yet just minutes to town center. Please feel free to call me on my cell 203-240-5877 or email me directly at email@example.com... more
I am a Wilton resident and agent here....welcome to the home buying process here in Wilton.The answer below is correct....in Fairfield County (including Wilton), the actual Sales Contract is drafted by the seller's attorney and sent to buyer's attorney for buyer to sign first.
In sales from Bridgeport and points North the real estate brokerages actually use a standard sales contract and provide it in the same order.
In either case the parties would have already come to mutually agreeable terms in either a Binder or a Terms of Purchase and Sales agreement. Home insection issues and certain other non-standard items can either be resolved, or remain contingent, in the final sales contract.
I hope this is helpful!
If you are need of any professional real estate services, and are not currently under a written agreement with a Realtor, I would be happy to be of further assistance!
Realtor Lisa Jones, GREEN, ICREA, CIPS
Golden Key Achiever, over $50Million in recent residential sales!
203-529-3065 Private Fax
Agent Webpage: http://higginsgroup.com/agent/109-lisa-jones/?p=1&search=first&q=lisa... more
Maybe people are forgetting something? Houses go into foreclosure for lack of payment by the borrower. Not because they are underwater although thats the case in most instances. People can stop making payments for numerous reasons and still have equity in the house. Loss of job, loss of income, insufficient credit score or income to refinance and lower their payment, etc.. I work with bank owned properties and as weird as it might sound sometimes banks get more then what is owed. It depends on the market value of the house more so then what the mortgage owed is? I would have a agent do a BPO and come up with a value range for the property. If it comes in the range and you want the house then offereing full price might make sense. Others will try for a discounted price and will usually be outbid unless the house is undesirable to most other buyers. I call those buyers dreamers. They run around low balling bank owned properties and never get to buy one.... more
I missed your question a while back and the answer is as follows; my colleague below was right to say revaluation take place every 10 years, but the entire answer has more parts. Revaluation is compulsory at the town level, by the state, every 10 years, but most towns do it every 5 years. It is never done at the time of closing, only when new construction title passes creating a new property on the town roster. Also you used the term appraised at $1.1M...by whom? The town "assesses" which is 70% of the towns projected fair market value. In lower Fairfield County there is little correlation between assessed values and selling prices...to give yourself some added comfort, take a look at other homes which have recently sold in the $2M range and see what their town assessed values were at closing...you are likely in good company!
Call me anytime for professional real estate services,
You should make arrangements for your seller to get a few estimates from some local reputable septic companies...the septic company in keeping with the town codes will make recommendations....there are variables...a larger tank may require additional leeching field, maybe not...the experts will let you know...if the soil is good/sandy that's helpful, if your client's home is on rock...Blasting time! Best case scenario 2,500 for just a tank...very worst case scenario, you are on rock, need blasting and top fill...25,000..Most upgrades for me have been fortunately under $10,000. BTW If the land can sustain a larger house...and the difference in dollar amnt for a 4BR septic vs 5BR septic is small, go larger!
Best of Luck,
Lisa Jones, Higgins Group... more
I would say the cost per square foot of a high end home can range from $ 500 up to $800 per square foot. Obviously depending on how high end the materials are and the high quality of the craftsmanship used to do build the house.... more
Typically, when banks are selling homes they have foreclosed on, they seek to sell for at or just a bit below current market value. The banks, when listing their foreclosed properties for sale, have already received multiple appraisals on the property, so they are aware of the current value.
The existing loan amount is not taken into consideration.... more
I am an agent that has lived in Wilton for 17 years. I am in the process of constructing a 6300 Sqft New Shingle style Colonial for a client on a premier street in Wilton. I sold them the lot as well. You have noticed that Wilton market statistics have been brought to your attention, so I will will not go that route.
The market in Wilton is still steady and it is mostly due to the best public school system in the state that attracts many families. There are many opportunities to build a new colonial between $1.4 and $2.0 Million on a 1-2 Acre lot and build some equity in the process immediately. If need more insight, please call me.
Century 21 Landmark Properties
Email: Ripee.Sawhney@Century21.com... more