Fairfield County – time or space

New Construction in Stratford’s Paradise Green Just Listed for $469,000

November 8, 2020November 9, 2020Blog, connecticut, Homes for Sale, new construction, paradise green, Stratford, UncategorizedLeave a Comment

Just a few weeks ago we reported that 224 Wakelee Ave in Stratford’s Paradise Green neighborhood appeared to be nearing completion. On Friday, November 6 the home was finally listed on the market at a whopping $469,000.

This is significantly more expensive than the newly constructed home just down the street at 115 Arcadia Ave that sold in 2017. That home, 115 Arcadia, sold in October 2017 at $405,000. It featured 4 bedrooms, 2.5 bathrooms and 2,284 square feet of space.

Today, 224 Wakelee Ave features 3 bedrooms, 2.5 bathrooms and 1,900 square feet of space. It appears that 115 Arcadia was a good buy back in 2017 after all. To be fair, you can’t really compare the housing market of 2017 to that of 2020 – things have changed so much for Stratford in those three years.

The housing market in Stratford has changed dramatically since 2017, and most of that demand growth came in 2020 with the COVID-19 Pandemic as New Yorkers flee to the suburbs. There is little new construction in Paradise Green today, though there may be one or two homes available nearby on Cutspring Road. However, Wakelee Ave is a much better location, just down the road from Wilcoxson Elementary and walkable to all that Paradise Green has to offer.

A new driveway was just added to this completed construction and the home looks great. We expect that it will sell fast, just like everything else in this neighborhood in the Fall of 2020. Zillow predicts the home price index for 06614 to rise about 9% in 2021; experts say the demand for suburban homes in this area will continue to grow through 2021 with no signs of slowing down any time soon.

New Driveway Completed on Stratford’s Wakelee Avenue

What do you think this one will sell for? We will throw in a prediction of $449,000. Check back in a few months to see what the sale price was!

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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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Edit November 9, 2020

As of 11/9/2020 this home is Contingent!

1929 Colonial at 104 Newtown Ave in Stratford, Connecticut

October 30, 2020October 30, 2020Blog, connecticut, paradise green, Stratford, UncategorizedLeave a Comment

This picture-perfect 1929 Colonial is located at 104 Newtown Ave in Stratford, Connecticut. According to public tax records, it appears that until recently, this home had been occupied by the same owner since 1955! Truly amazing. Newtown ave is a quiet, tree lined street in the Paradise Green neighborhood just steps from Motil Pond.

There are several large prewar homes like this one in the area built in the same style with architecturally steep roof arches and a rounded front door. It is wonderful to see the original rounded front doors kept on these homes, a big part of their historic charm. See another similar door in yesterday’s post here.

It appears that this home may have just recently sold for $369,000 on October 6, 2020.

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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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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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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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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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Housing is Hot in Stratford’s Paradise Green Neighborhood

October 12, 2020October 23, 2020Blog, connecticut, paradise green, Stratford5 Comments

Paradise Green is a quaint North-end neighborhood in the Fairfield County suburb of Stratford. This neighborhood is nestled along the beautiful Housatonic River that empties out into Long Island Sound next to Milford. It’s located above I95 and below the route 15 Merritt Parkway. In the center of the neighborhood is Paradise Green Park, a large triangular shaped green situated between Huntington road and Main Street where the farmers market operates during the summer months.

The Paradise Green neighborhood is within walking distance to Longbrook Park, which is next to beautiful new athletic fields, and offers many shops and restaurants on Main Street. On Main Street you’ll find brick oven fired pizza, a wine shop, an American tavern, a donut shop, bakeries, coffee shops, Italian restaurants and more. This area is excellent for commuters due to its convenient location. Paradise Green residents will enjoy a 5 minute drive up north to get on the Merritt Parkway or a 5 minute drive south down to the Stratford metro north train station.

Fairfield County is now experiencing a very hot seller’s market this year due to several factors; read more about that here. Paradise Green is arguably one of the best neighborhoods in Stratford due to its convenient location, good schools and amenities. This neighborhood has beautiful mature tree-lined streets with sidewalks, offering a high quality of living in a peaceful suburban setting that’s perfect for families. New York City transplants and Connecticut homebuyers looking for a safe and affordable place to call home often land here.

Homes in this area are well-kept and often extensively updated with a wide range of styles to choose from. Smaller ranch homes, two story colonials and a mix of large and small pre-war homes can be found here. Pre-war homes are more rare as the building boom in town didn’t take place until the post-war years once servicemen returned home. With the support of the 1944 GI bill promoting home ownership, low interest mortgages helped fuel the growth of the suburbs.

The Great Recession from 2007-2009 had a large impact here in Town. Foreclosed homes resulting from this recession were still widely available in 2015-2016 when I began looking at homes in Stratford. However, from 2015-2019 home prices recovered dramatically, nearing pre-recession levels. The pandemic in 2020 has further pushed the already hot market into an even hotter one, with homes going under contract within a day or two and prices at or above historical peaks.

Even with home prices continuing to rise, Stratford still offers the best value proposition in Fairfield County today. Beautifully updated 3 bedroom homes in the $350,000 price range in Stratford would easily reach into the $500,000 range and beyond in the town of Fairfield, just over 10 minutes drive away. While these two towns offer different benefits, the fact remains that Paradise Green offers quite a lot for those looking to affordably break into a Fairfield County town on the metro north train line.

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The 2020 Seller’s Housing Market in Fairfield County, Connecticut Explained

October 11, 2020October 23, 2020Blog2 Comments

The COVID 19 pandemic continues to affect nearly every element of daily life around the world. Here in Fairfield County, Connecticut we continue to see those pressures come through in real estate in the form of a very hot 2020 sellers market. As it becomes clear that we may not return to a normal way of life anytime soon, those who can move out of New York City continue to do so at an alarming rate.

High-income earners from the city are choosing to relocate to Connecticut suburbs for good reason: excellent public schools systems, space to remain socially distant, space to allow for a home office and a diverse educated community. Space has never been more in demand than right now. Top choices to relocate in are towns such as Greenwich, Darien and Westport. These towns have proximity to NYC, a metro north train station and top-rated public schools. Their property taxes also remain relatively low due to a strong tax base.

Middle-income earners escaping the city will be pushed farther out into the outer limits of Fairfield County such as Fairfield and Stratford. Fairfield is a great shoreline town with good schools, moderate taxes and beautiful beaches. However, home prices in Fairfield remain too high for most in the middle-income bracket. This will force them to look either north into Trumbull and Monroe or further east into Stratford.

Stratford remains the second most affordable Fairfield County town (second only to Bridgeport) and provides a tremendous value even as property values continue to climb. Stratford has some good schools depending on what neighborhood you live in. Some neighborhoods suffer from underperforming schools. Stratford has several beaches, a metro north train station and a diverse, working class community. Property taxes are high relative to the surrounding towns, though home prices have historically been significantly lower than neighboring towns.

Home prices all across Fairfield County are finally recovering back up to the pre-recession levels of 2006-2007. The current seller’s market represents a perfect storm from the lack of inventory supply and the strong demand for space due to the pandemic. Many homes right now are seeing multiple offers, highest-and-best offer scenarios, and are selling over the original asking price. New York City expats are battling locals in price bidding wars for an ever smaller selection of homes on the market.

As prices continue to rise across Fairfield County, home owners who would like to sell may have difficulty navigating this market. While their current homes are now easier to sell at higher values, finding a new home they can afford – and win- without tough competition will be a challenge. This further constrains the supply of homes, which in turn puts upward pressure on home prices.

Interest rates on home loans are at an all time low. It’s common to see 3% and 3.125% 30-year rates at the moment, which allows buyers to afford more expensive homes. With interest rates predicted to remain low for the foreseeable future, this has also contributed to home price growth this year.

As 2020 transitions into 2021, many real estate experts expect the home prices and sales in Connecticut to remain very strong.

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