Week 62: Decision-Making, Fast and Slow. John Engel’s Real Estate Column for the New Canaan Sentinel
This week we explore timely Decision-Making and Commitment as we reflect on 2024 and set goals for 2025. December is when the phone rings. “What’s my house worth?” and “When should I list?” and “How can I prepare?” people ask. Sometimes the timing is not to our liking; buying and selling is a reaction to […]
Week 61: On Closing Costs and Taxes, this Boiling Frog Has Had Enough! John Engel’s Real Estate Column for the New Canaan Sentinel
In the wake of the election the nation’s attention again turns to taxes. The Tax Cut and Jobs Act of 2018 (TCJA) was the most significant tax change of the first Trump administration, profoundly affecting housing markets across the country. At the end of 2025 the TCJA is set to expire, and its extension or […]
Week 60: November Market Report for Fairfield County – Five Towns. John Engel’s Real Estate Column for the New Canaan Sentinel
We used the rolling 6-month average to strip away some of the month-to-month volatility. Nevertheless, there are many clues as to what the Spring market holds. Greenwich – FLAT. The median price of a single-family home has been between $2.4 and $2.5 for the last 6 months and is only up 2.17% year over year. […]
Week 59: Now What Trump? A Look Forward to Housing Pressures. John Engel’s Real Estate Column for the New Canaan Sentinel
Last week we talked about the empirical effect of elections on real estate. We observed soft even years and stronger odd years. Elections represent inflection points before which we freeze with indecision and after which we exhale, and life goes on. Now that we know the results of the election what does the future hold […]
Week 58: What People Fear Most. John Engel’s Real Estate Column for the New Canaan Sentinel
Times of crisis, of disruption or constructive change, are not only predictable, but desirable. They mean growth. Taking a new step, uttering a new word, is what people fear most. -Fyodor Dostoevsky I’ve been thinking about datamining a lot these days, what it means and how it is changing in the context of elections, business […]
Week 57: Election Effects on Real Estate. John Engel’s Real Estate Column for the New Canaan Sentinel
Past performance is often used as a warning label to caution against assuming an investment will continue to perform well in the future: “past performance is not a guarantee of future success.” But this is election week, the correlations are strong, and you can take my predictions to the bank. First, let’s look at activity […]
Week 56: Zillow’s New ‘Climate Risk Threat Score’ Misses Key Details, Sparking Concerns Among Homeowners. John Engel’s Real Estate Column for the New Canaan Sentinel
Zillow, inventor of the controversial Zestimate, has rolled out a new “climate risk threat score” for every house in the country. Zillow gets their data from First Street which has been crunching numbers on climate risk for a decade. Redfin offers a similar tool, but Zillow’s version ups the game with a mapping feature. This […]
Week 55: A New Approach to Restoration Without Taxpayer Cost. John Engel’s Real Estate Column for the New Canaan Sentinel
I read with interest in Good Morning Wilton the story of an historical building owned by the town of Wilton which has fallen into disrepair and is now evacuated, requiring a multimillion-dollar renovation. This is not a problem unique to Wilton. New Canaan tasked Penny Young and Amy Murphy Carrol to study over 50 town- […]
Week 54: What’s going on with the purchase of Avalon? John Engel’s Real Estate Column for the New Canaan Sentinel
The New Canaan Housing Authority (a non-profit corporation) is attempting to purchase Avalon New Canaan, 9.1 acres, 10 buildings, 104 units, currently with only 7 vacancies starting at $4,030 per month (for a 2-bedroom) WHY THE HOUSING AUTHORITY? The New Canaan Housing Authority (HANC) has statutory authority to issue bonds, acquiring and managing real estate […]
Week 53: Where We Are Nine Months Into the Year. John Engel’s Real Estate Column for the New Canaan Sentinel
It is October and that means it’s time to paint a picture of the Fairfield County real estate market through 9 months. I’ll compare New Canaan with peers Darien and Westport and include large-market Stamford as a contrasting baseline. Median Sales Price – All Property Types – New Canaan ($1.973m) is up year over year […]