The Stamford housing market is very competitive. Homes in Stamford receive 6 offers on average and sell in around 42 days. The median sale price of a home in Stamford was $638K last month, up 12.4% since last year. The median sale price per square foot in Stamford is $313, up 5.4% since last year.
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A Guide To
Stamford, CT, provides a prime coastal location, a diverse and welcoming community, a cosmopolitan dining scene, top-notch educational opportunities, a variety of housing choices, and excellent transportation connectivity.
Search for top amenities in each area and learn more about the history, schools, neighborhoods, attractions, and Stamford multi-family houses for sale in the map-based guide by The Tri-Star Team at Compass..
Nestled along the Connecticut coastline, Stamford offers a prime location just 30 miles from Manhattan. Its proximity to New York City, along with its coastal charm, makes it an attractive destination for both residents and businesses alike.
Stamford boasts a vibrant and diverse community. The city's rich cultural scene, community events, and recreational opportunities contribute to a lively atmosphere. Residents, from young professionals to families, find a welcoming environment in Stamford.
The dining scene in Stamford reflects its cosmopolitan nature. From upscale restaurants to cozy cafes, residents can indulge in a variety of cuisines. Stamford's waterfront dining options add a touch of charm, providing picturesque views to accompany delectable meals.
Stamford is home to excellent educational institutions, including top-rated public schools and private academies. The city's commitment to education and its proximity to renowned universities make it an ideal location for families seeking quality schooling for their children.
Stamford offers a diverse range of housing options, including historic homes, modern apartments, and sought-after multi-family homes. For those interested in the keyword "Stamford, CT Multi-family homes," the city provides an array of properties suitable for both homeowners and investors looking for attractive real estate opportunities.
Stamford's strategic location is complemented by its robust transportation infrastructure. The city is a major transportation hub, offering easy access to New York City via Metro-North railroad and Interstate 95. Additionally, Stamford's walkable downtown and public transit options provide convenience for daily commuting.
Are you interested in buying a home in Stamford? Look no further than working with our experts.
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There are two accurate ways to perform home valuations: with a Comparative Market Analysis and an appraisal.
Here is how the two differ:
A Comparative Market Analysis (CMA) is a tool used by real estate agents to value a home. It evaluates similar homes that have recently sold in the same area. Agents find comparable sales and use them to conduct a sales comparison. In most cases, an agent will find three homes that have recently sold and are as similar to and located as close to the home being valued as possible. Each one is then analyzed to pinpoint differences between it and the home being valued. Once these differences are priced out, the price of each comp is adjusted to see what it would cost if it was identical to the home being valued were it to be sold in the current market.
An appraisal is an unbiased valuation of a home based on a professional’s opinion. They are usually what mortgage companies use for home purchases and refinances. A lender usually orders a home appraisal and the cost of the appraisal, sometimes up to $500, is paid by the homeowner. An appraiser does a complete visual inspection of the interior and exterior of the home as well as taking into consideration recent sales of similar properties and market trends. The appraiser then compiles a detailed report on the home, including an exterior building sketch, a street map showing the home and any comparable sales, photos of the home and street, an explanation of how the square footage was calculated, and any other relevant information.
Though getting a valuation in order to sell your home is the most common reason to get a home valuation, it’s not the only one. Here are some more situations when a home valuation may be necessary:
Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify and will be used by the lender to make a decision on your loan.
Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.