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1939 Colonial at 9 Elk Terrace, Stratford, Connecticut

October 25, 2020October 25, 2020Blog, connecticut, paradise green, Stratford, Uncategorized1 Comment

The 1939 Colonial home at 9 Elk Terrace in Stratford, Connecticut has been under construction and renovation most of 2019 and 2020. It appears the home will be finished soon and will hit the market shortly. This large home has been expanded and completely renovated top to bottom and it looks like a new house. They have done an incredible job at this property.

The home sits right at the end of Elk Terrace and corner of Glendale road overlooking Brewster’s Pond. From the front of the house, you can see the entrance to Longbrook Park. It is an ideal location for a family with children, just a short walk to athletic fields, the park, Brewster’s Pond or across the pond up to the shops and restaurants on Main Street in Stratford.

The view of 9 Elk Terrace from Longbrook Park

One thing is for sure: when this property finally hits the market there might be a bidding war to win this home. A great comp for this home is 59 Elk Terrace, a few houses down, which just went contingent. That home was listed on the market in October 2020 for $424,900. Number 59 has 3 bedrooms, 2.5 bathrooms and 1,861 square feet. If I were to guess, this house might hit the market in the $450,000 range.

Here you can see the park on a Sunday afternoon in Autumn, 2020. A football team practice together in the distance, and the youth playground is pictured in the foreground. From the back of the home, a view of Brewster’s pond is in full view. Imagine all of the mindful moments you could enjoy looking out at the ducks floating across the pond from your living room window.

The home sits above large stone retaining walls along the paved path that is popular with walkers, runners and families pushing strollers. This quiet area of Paradise Green was one of Stratford’s best kept secrets. With the influx of New Yorkers snapping up homes in town this year, the secret is out.

According to public tax records, it appears this home was kept with one family from 1940 through at least 2006. The home was sold in September 2019 for an incredible low price of $169,100. The property has been under construction since about that time.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

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93 Brewster Street, Stratford, Connecticut

October 24, 2020October 25, 2020Blog, connecticut, Homes for Sale, Uncategorized1 Comment

Just on the market is an extraordinary oversized cape home in the heart of Paradise Green neighborhood of Stratford, Connecticut. This home is nestled just off one of the most beautiful streets in all of Stratford: Plymouth Street. Plymouth and Brewster are two of the most sought after streets to live on – homes here are usually long term ownership, just like this one. 93 Brewster last sold in 2010 for $329,000. It’s now available for the first time in 10 years at a very reasonable $375,000. Considering what smaller homes in less ideal areas are selling for, I would say this house will likely sell over the asking price.

This Brewster Street home is only one house away from Brewster’s Pond, a beautiful and popular spot for walkers and runners in Paradise Green. Here is a view from the other side of the pond looking towards the home.

Stepping out of your front door, you would be about a 10 second walk from this view of Brewster’s Pond looking South. Heading the other direction would put you right on Main Street in Paradise Green. This house has an excellent location and we think it will sell fast.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

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30-Year Fixed Mortgage Rate Falls to Record Low for 11th Time This Year

October 23, 2020Blog, connecticut, Mortgage Finance, UncategorizedLeave a Comment

Mortgage rates in the US have fallen again to a new record low. The average rate for a fixed thirty year mortgage fell to 2.8% a rate so low it has historically only been seen on 15 year fixed mortgages. Now might be a great time to refinance or consider a cash-out refinance if you have built up equity that you want to tap into. Keep in mind that cash out refinancing will typically result in a slightly higher rate than this historic low. The more equity you cash out, the higher the rate will be.

When I purchased my home in October 2016, exactly four years ago, the best rate available was 3.5% which was a very good rate back then. If you are in the position to find a modest home for a fair price in today’s market, the 2.8% rate is a really great long-term rate. Then again, experts are predicting rates will continue to slide this year and possibly into early next year.

The falling mortgage borrowing rates are just one more variable putting upward pressure on home prices; while rates may be historically low, the combination of low inventory in the suburbs and strong demand is pricing out a lot of people despite the opportunity to lock in a low rate. As rates climb once again, moving or buying a new home becomes less attractive, easing pressure and prices in the market.

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The Best Real Estate Deal in Stratford’s Paradise Green as of October 22, 2020

October 22, 2020October 23, 2020Blog, connecticut, Homes for Sale, paradise green, Stratford, UncategorizedLeave a Comment

If you’re house shopping in the North end neighborhood of Stratford, you might be looking for something – anything- affordable in the Paradise Green area. With multiple offers taking the most attractive homes off the market within days of being listed, it is challenging to find something good in today’s market. After looking around at homes listed in this area as of October 22, 2020 I have found one gem that is still available.

The home at 695 Wilcoxson Ave is a 3 bedroom 1.5 bathroom colonial offering 1,661 square feet of living space on a 4,792 square foot lot. This pre-war home was built in 1918 and offers a ton of charm with stucco siding, large windows, arched interior doorways, hardwood floors and a fireplace. The overbuilt design elements of prewar homes are just charming. After World War II, homes were built cheaper and faster to quench the demand of the booming suburbs. They just don’t build them like they used to.

This home is listed at $284,900 and has been on the market for over two months. Considering the speed and competition with which surrounding homes are going for, it is surprising that this gem is still available. It is within walking distance just down the road from Wilcoxson Elementary school, one of the best grade schools in Stratford. The only downside that I can see with this home is that Wilcoxson Avenue is a busy road with quite a bit of traffic. However, the location is reflected in the price which still offers a great deal for this area. We think it will go contingent soon, as there is very little supply on the market today.

This home also has an oversized two-car garage which is also unusual for the area. Most homes are lucky to have a single car garage, though the early prewar garages that are still standing are a real treat. The detached two-car garage makes a great workshop space or storage space.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

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New Construction Completed on Lordship’s Margherita Lawn

October 21, 2020October 23, 2020Blog, connecticut, Lordship, new constructionLeave a Comment

Remember last week’s post about the rare double lots in Stratford, Connecticut? Well, it looks like another one has bitten the dust with the completion of a new subdivision. The owner at 98 Margherita Lawn has subdivided the property and sold it off for a new house to be constructed next door – or so we think. Based on town records, this empty lot next to 98 Margherita Lawn was last sold in 2004 for $74,166. It was just recently sold to a property developer in February 2019 for $130,000.

The owner of 98 Margherita Lawn appears to have also sold their house on August 20 of this year 2020 for $480,000. That home was last purchased in 2004 for $74,166. With the home sale and lot sale combined, that is not a bad payday! With home prices in Stratford getting frothy again, it looks like the property owner made a great choice cashing in and moving on. Then again, they will no longer live in this great community a short walk to the beach.

Taxes on the home in 2004 are listed as being $4,669. In 2020, property taxes have swelled to an incredible $11,771. That represents a 152% increase in property taxes in that period; meanwhile median wage growth has averaged only 3% growth per year. To see actual wage growth rate charts click here. Town governments can make it hard to hold onto a good thing.

So, what was constructed on this lot that sold for $130,000? A beautiful new cape style home with three dormer windows has just reached completion, and looks like it will be 100% complete very soon. With new construction there is no need to worry about home repair for a long time, which is a huge plus. We’ll keep you updated when the listing goes live.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

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The Smallest Single Family Home in Stratford’s Paradise Green

October 20, 2020October 23, 2020Blog, connecticut, paradise greenLeave a Comment

If you walk down the beautiful tree lined sidewalks of Paradise Green, a tiny, yellow home just might go unnoticed as you pass by. Not me, I think about that tiny gem every time. You are not forgotten, tiny home.

223 Reed Street is, what I believe to be, the smallest single family home in the Paradise Green neighborhood. It may even be the smallest home in all of Stratford. This one bedroom, one bathroom house has only 492 square feet of living space. That’s the area of a generously sized one-bedroom New York City apartment!

The lot size is also abnormally small, coming in at 3,920 square feet. Most older homes like this have non-conforming lot sizes which really just means that houses were built too close together by today’s standards. Most non-conforming lots are in the 5-6,000 square foot range, making 3,920 exceptionally small. These details might just give us a clue as to what was going on in the world when this home was built.

In September and October of 1929, Wall Street experienced the Great Crash. This crash happened long before safety measures were put in place to limit trading and protect people during a panic-causing market sell off. This was a very difficult time in America, one which put an end to the success of the roaring 1920’s. The recession that followed ultimately led to smaller homes being constructed and more modest investments.

This small yellow abode was built in 1930, right in the period of time where funding new construction must have been quite difficult. As someone who lives in a small 1930’s home myself, I often think about how the economy must have affected the lives of the people who lived in these small homes. While some who pass by may look down upon these unassuming homes, one thing is certain: those who live and have lived in them, are grateful to have them.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

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New Waterfront Home Construction in Lordship, Stratford

October 19, 2020October 23, 2020Blog, connecticut, Lordship, new constructionLeave a Comment

On the corner of Margherita Lawn and Park Boulevard are a group of newly constructed homes and one currently under construction as of October 2020. This corner of Lordship used to be home to a beautiful, large white historic home at 180 Park Boulevard, which appears to have been torn down in 2017. A demolition permit to demolish was issued in February 2017. If you look at Google Street View images from November 2015, the home is still standing. While the year the original home was built is not listed, I will update this post if it can be found.

New Home under Construction October 2020

In this demolished home’s place are three building lots, and the new homes going up are first class. While it is a shame any time a historic home is torn down, the modern homes built in it’s place are beautiful and make the best use of the location in today’s Lordship. Millions of dollars in development and the new property taxes that come along with them are good for the town of Stratford. These new homes enjoy what is arguably one of the finest sights in all of town, an unobstructed view overlooking the bluff at Russian Beach.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

Click here to continue reading about Life in Lordship

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Moving from New York City to Connecticut in a Pandemic

October 18, 2020October 23, 2020Blog, connecticut, UncategorizedLeave a Comment

According to data recently reported by the New York Times, as many as 10,000 or more people fled New York City for the Connecticut suburbs in search of safety in the form of more space. The current pandemic that we are living through has forced many city residents to cut their time in NYC short and make the decision to buy a house a little earlier than maybe they had planned to. The situation has been especially hard on families with young children at home, where trying to balance working from home with the entire family sharing a small city apartment space has been challenging.

With the exodus from NYC to CT that began in Spring 2020, many people are evaluating the various communities and towns Connecticut has to offer. The further away from NYC you get, the more affordable and spacious housing becomes. Stamford, Greenwich and Darien are generally a 40-50 minute commute into Grand Central on Metro North which is one reason housing is so expensive in those towns. Further out, Westport becomes a great option for families, as this town offers some of the highest rated school systems in the entire country.

Choosing a community to live in is usually based on budget range and also what one is willing to compromise on. It’s no surprise that the Fairfield County towns with the best school systems close to New York City will have the most expensive homes. There are some bargains to be found within a reasonable commuting distance however, in towns like Fairfield and Stratford.

Stratford is currently the most affordable town in Fairfield County, though home prices are rising fast here too due to the small supply of available homes for sale. To read more about the state of the Connecticut housing market in Fairfield County, read our recent report here.

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Living in the Lordship Neighborhood of Stratford, Connecticut

October 17, 2020October 23, 2020Blog, connecticut, Lordship, Stratford1 Comment

Lordship is a sleepy, quiet waterfront neighborhood on Connecticut’s Gold Coast which overlooks and is surrounded by Long Island Sound. Settlers first arrived here in 1639 when it was originally known as Great Neck. It’s been said that Lordship is a “town within a town” because it feels so different from the rest of Stratford. I would agree with that. In fact, the first time I came here, the drive over the causeway reminded me of Old Saybrook, another Connecticut shoreline town where I grew up.

When my wife and I were newly married and looking to buy our first home in 2016, we began looking in Lordship. That Old Saybrook familiarity led us to place an offer on a wonderful 1950 cape on First Avenue with views of the Sound from the front yard. We couldn’t believe how affordable the price was. We were outbid by the only other offer which was $32,000 over the asking price.

This beach enclave features several public as well as private beaches; Long Beach and Short Beach are two public town beaches available for all Stratford Town residents who acquire a beach parking pass. In the middle, Russian Beach is for town residents only. For trips to Long or Short Beach: as of 2020, the daily rate for non-residents was $20 Monday-Thursday and $40 per day from Friday to Sunday.

The North end of Lordship features Sikorsky Memorial Airport, the only airport in Fairfield County. This airport provides some great visual entertainment for beach goers, who can watch small aircraft gliding low over the Sound and beach as they come in to land. It is a really unique part of Southern Connecticut, and is just another piece of aviation history that makes Stratford great.

The Historic Curtiss Hangar in Lordship, Stratford

Next to the runway is the historic 1929 Curtiss Hangar, which has seen visitors such as Igor Sikorsky, Amelia Earhart, Charles Lindbergh, Juan Trippe, and Howard Hughes. After years of going derelict, the building is scheduled to be renovated and turned into an aviation museum. Let’s hope this project is completed within the next few years.

Traveling further down Stratford Road to Park Boulevard will lead you to some incredible views of the Sound. Homes here run the gamut; they vary from the affordable vintage cape or ranch all the way up to large modern homes and even some new construction. Several new homes were completed in 2019-2020 and a few are under construction now in October 2020.

New Home Construction on Park Boulevard, October 2020

On Summer nights, groups of young people can be seen riding around on long boards, bicycles and Vespa scooters down to the beach. The beach life vibe is alive and well in the Lordship neighborhood. This is truly an idyllic place to grow up: all of the benefits of a small beach town life, conveniently located just one hour to New York City. If you enjoy access to the Sound, water front homes and an active lifestyle, this place just might be for you. This is Stratford’s best kept secret.

Long Island Sound Views in Lordship, Stratford

The center of Lordship offers few amenities such as: a small deli, a pizza shop and a convenience store. The newly renovated Surf Side hotel and Little Pub are popular new spots to visit right on the beach. Recently, a zoning change was made in the area to allow for more commercial development. Like the rest of Stratford, Lordship is no longer forgotten and the area is seeing new money funding the thoughtful development that it deserves.

To read more stories about the Lordship neighborhood of Stratford, Connecticut click here.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.

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91 Woodland Ave, Stratford, CT 06614

October 16, 2020October 22, 2020Blog, connecticut, Homes for Sale, paradise green, Stratford1 Comment

Now for sale is a super cute 1920 ranch style bungalow with 1,181 square feet of living space, three bedrooms and two bathrooms. This small vintage home was initially listed for $259,750 but after a recent price drop is now available at $235,000. Incredibly, this home was last sold in November 2016 for only $110,000 which was an incredible buy for this neighborhood.

This 100 year old home is unique to the surrounding area for several reasons: it has a stucco exterior, an unusually large lot size of 9,147 square feet and is a pre-war home. Most property lots in this area are approximately half that size, so they’re in the 5,250 square foot range. Prewar homes (built before 1935) are also more rare to find as the majority of the housing supply in Stratford was developed rapidly after World War II. They just don’t build them as well as these prewar homes anymore! Finally, the stucco exterior is not often seen in this neighborhood, which offers a warm vintage charm.

This little gem is also currently the cheapest single family home on the market right now in Paradise Green, with a large lot size that offers the potential for future expansion. Considering the house right next door is under contract (listing price $349,900) this home may offer a good opportunity for someone to buy, renovate and expand.

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Information posted is merely the opinion of Time or Space for entertainment purposes only. All information published can be found in Town Records which is made available to the Public.