connecticut – time or space

2020 Year End Summary: Stratford, Connecticut Real Estate Market

December 27, 2020December 30, 2020Blog, connecticut, Stratford, UncategorizedLeave a Comment

As 2020 comes to a close, there is no sign of the housing market slowing down in Connecticut. According to Zillow (and from our own observations) Stratford’s 06614 zip code saw housing prices rise by an incredible 12.5% over the past 12 months. The upward trend is expected to continue by another 11.5% next year in 2021. Home prices continue to rise in Stratford as New Yorkers continue to flee high cost housing and high taxes to Fairfield County Connecticut’s relative bargain pricing. It truly is a bargain when compared to New York City and Westchester rates.

Historically, Stratford has been the most affordable town in Fairfield County. It largely still holds this title, though prices are rising to meet the strong demand from homebuyers looking for more space in town. Stratford is a mix of suburban and shoreline neighborhoods that experienced widespread development after World War II in the 1950’s through the 1960’s. For the most part, any land worthy of development has been developed long ago.

With strong prices and demand in 2020 however, new construction has taken off again in 06614. Developers have found the few remaining buildable lots to build on, now that prices support such development. Town officials seem eager to grant any permit that brings new tax base to town.

Lordship, the beautiful shoreline neighborhood has seen both tear-downs with new homes built as well as once vacant lots sold and permitted for new building. We also wrote about this beautiful new home newly constructed on Park Boulevard this year. In the Paradise Green neighborhood in the North-end of town, more new construction was seen at Cutspring road adjacent to the Mill River Country Club golf course. Three new homes all next to each other were built in 2020 with the third home nearing completion as of December 27, 2020.

Another new construction at the North-end located on Wakelee ave recently went under contract at $469,000 within just one week of being listed in the fall of 2020. On the West-end of town near the Bridgeport line, new construction is seen there, too. Perry lane has two new listings which are currently offered for customization (pre-construction) at $495,000 for 3 bedroom, 2.5 bathroom homes with two-car attached garages.

Fairfield County’s best kept secret, I’m afraid to say, is no longer a secret. With new buyers and investment coming in from New York, prices and a competitive market are here to stay for the foreseeable future.

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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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English Tudor Cottage Style 1928 Home in Stratford, Connecticut

October 29, 2020October 29, 2020Blog, connecticut, paradise green, Stratford, Uncategorized2 Comments

Stratford, Connecticut has a wonderful variety of home styles, and if you look hard enough, you’ll find some really unique prewar homes around town. Before World War II, during the roaring 1920’s, ornate and complex building styles were embraced as materials, money and labor was abundant. During the war however, everything was scaled back as many resources were dedicated to the war effort. Today, we can appreciate prewar homes for the special time in which they were constructed. They just don’t build them like this anymore.

This English Tudor cottage style home is located at 919 Wilcoxson avenue in Paradise Green. The round arched front door is still original and is set back in 3-4 layers of brick arches. The craftsmanship and detailed masonry work that was done on this home could only be created during prewar times. Priorities forever changed in 1939, and period homebuilding in particular provides this signature in history we can forever look back on.

This home was built in 1928, and is located in Stratford’s Paradise Green on Wilcoxson Ave, just a few hundred yards from Donut Crazy on Main Street. The home is featured on page seventy of Stratford Historical Society’s Images of America: Stratford.

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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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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

Simply by the Sea: Designed Cottages, Homes and Bungalows by the Sea

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.

Home Sold for $11,100 Over Asking Price in Paradise Green

October 15, 2020October 23, 2020Blog, connecticut, Homes for Sale, paradise green, Stratford, UncategorizedLeave a Comment

One of the best streets in the Paradise Green neighborhood of Stratford, Connecticut is Reed Street. This beautiful tree-lined street with sidewalks is unique in that part of the street has mature forest land behind the odd numbered homes. While most homes in Stratford are surround by neighboring property on all four sides, a section of Reed Street has no neighbors directly behind the homes because of a wooded area offering greater privacy. This wooded area is also known for a variety of wildlife such as wild turkey, turtles, deer and white egret birds. Any additional privacy is a highly sought after resource in these quiet suburbs.

Recently, a home in this area located at 51 Reed Street sold on October 8, 2020 for $376,000 according to public records. The listing price was $364,900 which means that it has sold for $11,100 over the asking price. While we don’t know what other factors went into the deal such as agreed upon repairs or closing cost assistance, we do know it sold over the asking price by looking at public record. We do know that the bidding wars leading to highest and best offer scenarios are pushing up prices quite a bit for Paradise Green homes as of late; that may be the case here, too. Like we recently reported, it’s no secret that housing is extremely hot in this neighborhood.

This 4 bedroom 2 bathroom Cape was built in 1940 and has 1,916 square feet of living space on a 6,098 square foot lot. Before it was listed for sale, it appears that significant investment was made into it with new siding, possibly new windows, what looks like a new roof and a newly paved driveway. Additional upgrades and renovations were likely performed on the interior as well. Overall this is a really beautiful home on a quiet street.

Comparably sized renovated Capes not far from here in Fairfield, Connecticut can be found at around $500,000. So once again, Stratford is providing some good value here. However, the public school system in Fairfield features a higher rated Elementary, Middle and High School compared to Stratford, according to Great Schools rating system. The balance between space, affordability and school system quality is certainly a difficult decision to make when home shopping in Fairfield County Connecticut towns.

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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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