Chilton Summer Options

By Christine Finch Oleynick

Why go to the Hamptons when you can come to the Gold Coast of CT?

The Gold Coast of Fairfield County CT is considered one the country's wealthiest and most beautiful coastal areas in the world.  Fairfield County boasts thirty miles of coastline with gorgeous sandy beaches.   The beaches offer a wonderful setting for sunbathing, swimming and sailing, yachting, jogging, walking, cycling,  fishing, and picnicking.  The Gold Coast also offers world class shopping, award winning cuisine, fine art exhibits, breath taking homes with spectacular gardens and views, outdoor concerts, festivals and theater, world class polo, tennis, golf, and so much more.  You can enjoy all this and it is only 30 minutes from Manhattan.  Instead of traveling to the Hamptons, why not consider the ease and luxury of the Gold Coast of CT? Travel less, enjoy more!  

Chilton & Chadwick - Global Real Estate Concierge introduces Chilton Summer, the only Fairfield County focused summer vacation program that can assist you in all aspects of getting you and your home rental-ready. Not only will we rent your home for the summer, we can plan and organize your stay in the Hamptons or the villa below in the South of France which is available August and September. In addition, we will offer all of our concierge services to your visiting tenants, making your home more valuable and desirable to clients.  

Here are a few of our Chilton Summer Rental offerings:

Villa Belle Vue

Spectacular contemporary waterfront home. Be captivated as you walk into the indoor garden oasis with 2 story ceilings, hardwood floors, and picturesque windows with sweeping water views. Living room with full wet-bar, fireplace, spacious sitting area, dining room with 2 story-windows and access to beautiful deck overlooking pool and brilliant water views. Gleaming eat-in-kitchen with stainless appliances, dinning & sitting area, fireplace, plus, much more. Spend a magical stay of sun-filled days. Great for entertaining or just relaxing. Ideal Location - Quick to metro north and NYC! This is a Chilton Summer Rental. We offer offer all of our concierge services to the visiting tenants. 

Charmer on the Water in Old Greenwich

Enjoy waterfront living in Old Greenwich's most prestigious area and discover the beauty of this seaside retreat with old world charm and breathtaking views. Perfect for water activities, entertaining or just relaxing.  Master suite w private porch and sweeping water views.  This 100 year old house has the ease of yesteryear with one of the most charming wrap-around porches in Old Greenwich. Featured on the Greenwich Garden Tour & in Greenwich magazine. Full of history - formerly rented by John Phillips of Mama's and Papa's fame - Mick Jagger sunbathed on the seawall.  This is a Chilton Summer Rental. We offer offer all of our concierge services to the visiting tenants. 

Prime Location

Triple mint location. One Level Living Just Minutes To Greenwich Ave. Casual Sophisticated Classic Ranch Style Home. Newer Kitchen, Baths and HW Floors. Roomy and practical, the kitchen features a bar and opens onto a lovely dining room adjacent to the living room. LR and DR share across a wall a very pretty double-sided fireplace. The wonderful double living room proposes white leather chairs and sofas, w modern design. The rooms interconnect, and have multiple entry points, which allows for a nice flow and an open feel. 3 bedrooms, 2 bathrooms, it provides ample room for a party of 10. Seasons after seasons, the house is made for easy living. Private Terrace & Manicured Yard. Close To Town, Beach, Water, Restaurants, Museums and more.This is a Chilton Summer Rental. We offer offer all of our concierge services to the visiting tenants. This home is available as a yearly rental too. 

Chic French Chateau

Spend your Summer days in this magnificently enchanting, completely private home once lived in by J. Hyde Barnum and Lily Pons. This fully furnished 4500+ square foot French chateau boasts 5 bedrooms, 4.5 baths and sits on a tastefully manicured 3.2 acres in New Cannan's historic Silvermine neighborhood. Just minutes walking distance to Silvermine Country Market and Art Center and short drives to Grace Farms, Pear Tree Beach, Weed Beach, Merwins Meadow Park, and the picturesque village of New Canaan's downtown! The sophisticated European inspired estate also features a swimming pool, spacious living accommodations, and en-suite baths in every bedroom. 50 minutes to NYC!
                                        
Christine has lived in lower Fairfield county most her life and is passionate about Connecticut and enjoys the unique amenities the gold coast has to offer. Her extensive knowledge of the towns in the lower part of the county offers her clients a well-seasoned, professionally sound opinion and expertise that can't be matched. To reach her, please e-mailChristine@ChiltonAndChadwick.com or call 203.912.9712.

Buying Your Next Home (Part II)

By Stephen Shea

For today’s post, I’d like to continue with the discussion on Buying Your Next Home.  My previous post centered on the preliminary steps one needs to take before even starting the process of looking for a new home.  Today, I’ll discuss the next steps in the process, investigating where you would like to live and the home you want and can afford to buy. 

Fairfield County offers a host of delightful cities and towns to choose from.  While there are many similarities among the County’s communities, there are numerous differentiators too.  Home prices can differ dramatically by locale, which could prove a big determining factor in where you choose to live.  Commuting time to your job(s), school reputations, recreational facilities, fast access to highways and shopping vs. quiet streets and bucolic pastures, demographic differences or similarities, all weigh on your decision.

Do your research on each city and town.  There are many sources of information, including the Higgins Group website (www.higginsgroup.com), which offers wonderful insights on Fairfield County communities on its Media Wall.  Also check out the Town button on the Higgins’ dashboard.  It provides a short video on each local community.  And, as with all real estate firms, our website lists a number of homes for sale in each city and town we serve, to give you a sense of area homes and the respective price ranges one might expect.

Information of a specific nature about each community is usually best found by conducting online searches.  Also be sure to talk to family, friends, colleagues and professionals knowledgeable about each locale, seeking their opinions.

Next up, develop your future home’s “must have” list.  When making what is likely the biggest purchase of your life, your home should fit your needs as closely as possible.  List things such as the type of neighborhood, the minimum number of bedrooms/bathrooms, proximity to the train for commuters, whether the house must be turn-key or if you’ll except those in need of updating (at a lower price), the style of house, size of property lot, and whatever else matters most to you.  Additional items that would be nice to have but not essential – the “want list” can also be drawn up to help when sorting through competing properties.  This may be the first time you and your spouse have discussed such things.  Best to do so before you start looking.  

Next, determine how much home you can afford.  Speak with a mortgage professional and learn what options are available to you, current interest rates and how steady those rates are, as your search efforts may take a while.  There are a surprising number of mortgage types and down payment options available that can help tremendously in making the purchase of a house affordable.

Once you’ve determined not just how big a mortgage you qualify for but how big a mortgage and its monthly payment amount you are comfortable with, then obtain your pre-approval letter from the bank.  This is essential for being taken seriously as a potential buyer should you wish to make an offer on a house.

Affordability is impacted not just by your mortgage payment however.  You’ll have additional expenses.  Property taxes and homeowner’s insurance are typically escrowed monthly along with your mortgage payment. This is known as PITI (principal, interest, taxes and insurance).  When a bank is reviewing your mortgage application, your expected PITI will be used to determine your mortgage eligibility, as lenders typically limit PITI to a set percentage of your gross monthly income. 

Each Fairfield County community sets its own property tax mil-rate – the factor used to determine a dwelling’s property tax amount.  The difference between various cities and towns can be substantial; a factor you should take into account when assessing where you wish to live.

Verify with an insurance professional that your homeowner’s policy is adequate to fully replace your home should disaster strike.  You’ll need to determine if other insurance is required, such as flood insurance if the property is in a flood zone.  Mortgage insurance may be required if you choose a mortgage option that allows for less than a 20% down payment. 

As with all your professional relationship regarding real estate, be it a mortgage banker, lawyer, insurance or real estate professional, interview a number of them, see who you’re most comfortable working with, and choose whom you believe will become an advisor you can trust.

Next up: Why work with a real estate professional.

                                                  

Stephen Shea is a licensed real estate agent, real estate developer and has a background in financial modeling and planning. He can be reached at Stephen@ChiltonAndChadwick.com or 203.822.1555.

Buying Your Next Home

By Stephen Shea

I would like to initiate this blog by discussing what is likely the primary reason you’re reading an article on real estate.  That is, an interest in buying a home, be it your first home or your next home.  In either case, whether novice or veteran, there are do’s and don’ts that all prospective buyers need to be aware of; things you must do, things you must avoid, while attaining a general understanding of the process before you. 

My goal is to bring some clarity to, and remove some concerns from, the process of buying a new home.  I hope to advise you on what to expect as you wend your way through the process, from what to do before you start, to finding the right home, to negotiating the best price, and to closing on your purchase. 

Even for experienced home buyers, there could be important changes to the process, to the mortgage market, and to tax and legal matters that can make every new home purchase a challenge and require new answers or different approaches.

In this and subsequent articles, I’ll address what preliminary steps you should (or must) take before initiating your search effort, what are some of the mistakes many new home buyers make and why you shouldn’t allow these to hinder your home buying effort, how to go about selecting where you may wish to live, determining how much home you can afford, identifying what are the absolute must haves in the home of your choice, and determining if the house you can afford meets the “must have” requirements in the city or town of your preference.

Perhaps to no one’s surprise, I’ll advise why I believe it is best to utilize the services of a real estate professional in your efforts, clarify the role and fiduciary responsibilities of your real estate professional, and identify the other professional advisers and their roles you’ll engage along the way.

Now, let’s get started.

First off, determine your long term goals and whether home ownership fits into them.  Do you plan/expect to remain in the area for a length of time?  If not, frequent uprooting can leave you vulnerable to having to move in a down market, made even worse if you bought when that market was at a peak. Renting could mean less risk of financial loss if you’re situation is unstable or uncertain. 

If buying a home is what you determine to do, and you expect to finance that purchase, your first action should be to pre-emptively clean up any credit issues or blemishes on your credit record.  Obtain copies of your credit reports and verify that your credit information is accurate and correct any mistakes.  Do this as far in advance of starting your home buying process as possible. The farther any issues are behind you the better.

Try as best as possible to lower outstanding balances on credit cards and discretionary credit lines to under 50% of your available credit line.  Avoid the temptation to buy that new living room or bedroom set before closing on your home.  Your bank’s mortgage pre-approval letter (more on that later) is written on paper, not etched in stone, and can be torn up if your outstanding debt causes your FICO credit score to deteriorate.  Also, avoid unnecessarily checking your FICO score.  Each inquiry causes your FICO score to decline temporarily.  Too many inquiries just before the bank checks your FICO for a mortgage approval determination could prove disastrous.   

After the financial meltdown of 2008-9, caused in large part by excesses in the mortgage lending industry, many steps were taken by regulators and the housing industry to bring sanity back to the marketplace.  The subprime sector of the mortgage industry, believed to be at the heart of the problem, has been virtually eliminated.  And while new legislation, particularly the Dodd-Frank Bill, has strengthened regulatory oversight and made predatory lending (mostly) a thing of the past, you may be surprised to see how many mortgage product alternatives are still available to you. 

But we have not returned to the past, where FICO scores counted for very little.  The one important change to remember is that now FICO credit scores count very heavily in the approval process.  And banks are now saying NO where appropriate.  Get and keep your credit rating in order is now the watchword.

My next blog will focus on choosing where to live.

                                                  

Stephen Shea is a licensed real estate agent, real estate developer and has a background in financial modeling and planning. He can be reached at Stephen@ChiltonAndChadwick.com or 203.822.1555.

After Memorial Day, Get Ready to Embrace Classic White Chic

By Christine Finch Oleynick

We see white all over the runway, year after year, no matter what season.  But, if you are one who follows the rules of fashion religiously, you probably have Memorial Day marked on your calendar as the day you start wearing all your white items. After all, it’s one of the oldest rules in the book: “Thou shalt not wear white until Memorial Day.” 

But it is one of the rules that is meant to be broken.  So, is white really meant to be worn year-round? Yes, white style is a year-round classic.  And, white is not just to wear, here is how to do white everywhere and throughout the year.

                                

Christine has lived in lower Fairfield county most her life and is passionate about Connecticut and enjoys the unique amenities the gold coast has to offer. Her extensive knowledge of the towns in the lower part of the county offers her clients a well-seasoned, professionally sound opinion and expertise that can't be matched. To reach her, please e-mail Christine@ChiltonAndChadwick.com or call 203.912.9712.

Electric Paris at the Bruce Museum

by Christine Finch Olyenick

I recently had the pleasure of visiting the Bruce Museum to view the “Electric Paris” exhibit, a wonderful celebration of the “City of Light”. It is certainly a must-see for anyone with an admiration for Paris.

My favorite: L’Ambitieuse

Oil on Canvas L’Ambitieuse (The Political Woman, 1883-1885), by James Tissot.

On Saturday, May 14, the Bruce Museum opened “Electric Paris,” an exhibition that brings together about 50 works by notable artists from the late 17th and 18th centuries as they reacted to the initial adventure into gas and oil lamps and electric illumination and the effects of light on impressionism.

Paris had been known as the City of Light long before the widespread use of gaslight and electricity.  

The name arose during the Enlightenment, when philosophers made Paris a center of ideas and of metaphorical illumination.  By the mid-nineteenth century, the epithet became associated with the city’s adoption of artificial lighting: in the 1840s and 1850s, gas lamps were first installed, while electric versions began to proliferate by the end of the 1870s.  Even as rivals, including Berlin, London, New York, and Chicago, increased the quantity of light in their rapidly electrified cities, Paris managed to maintain its reputation because of the beauty of its illuminations.  Light remained and remains to this day a key signature of the French capital.

Jean-Louis Forain (French, 1852-1931)

Dancer in Her Dressing Room, c. 1890

The show is curated by Margarita Karasoulis. (The Bruce explained that the show is an expanded version of an exhibition first organized by the Clark Art Institute of Williamstown, Mass., in 2013. That show was curated by S. Hollis Clayson, who is a Bruce exhibition adviser.) It runs through Labor Day weekend.

“This is the type of exhibition that will appeal to a broad range of visitors, including anyone who has a fondness for Paris,” as well as those who are drawn to Impressionists from both sides of the Atlantic, Karasoulis said in a recent chat. “Plus, it’s beautiful and elegant ... a ‘must-see’ for art-lovers.”

Alfred Maurer (American, 1868-1932) Nocturne, Paris, n.d.

Oil on board, 10 1/4 x 13 3/4 in.

Presented in four sections — “Nocturnes,” “Lamplit Interiors,” “Street Light” and “In and Out of the Spotlight” — the exhibit is the first of its kind to examine how artificial illumination influenced artists in the late-19th and early 20th centuries, as Paris was transforming itself into a modern city, she added.

Artists in the show are among some of the most well known American and French painters of the time working in oil paintings, drawings, prints and photographs: Edgar Degas, Mary Cassatt, Pierre Bonnard, Édouard Vuillard, Henri de Toulouse-Lautrec, Jean Béraud, James Tissot, Charles Marville, Childe Hassam, Charles Courtney Curran, Alfred Maurer and Maurice Prendergast. Works are on loan from numerous sources, including museums, galleries and foundations throughout the United States.

John Singer Sargent (American, 1856-1925) In the Luxembourg Gardens, 1879

More Information: Bruce Museum, 1 Museum Drive, Greenwich. Saturday, May 14, through Sunday, Sept. 4. Tuesday through Sunday 10 a.m. to 5 p.m. $7, $6 students (5-22 with identification) and seniors (65 and older), free for children 4 and younger. Free admission on Tuesdays. 203-869-0376, brucemuseum.org

This exhibition is supported by the Florence Gould Foundation, Amica Insurance, Bank of America, U.S. Trust, Merrill Lynch, the Charles M. and Deborah G. Royce Exhibition Fund, and a Committee of Honor.

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Christine has lived in lower Fairfield county most her life and is passionate about Connecticut and enjoys the unique amenities the gold coast has to offer. Her extensive knowledge of the towns in the lower part of the county offers her clients a well-seasoned, professionally sound opinion and expertise that can't be matched. To reach her, please e-mail Christine@ChiltonAndChadwick.com or call 203.912.9712.