The population in Ridgefield is 24,000, the average income is $155,000 and the average age of the homebuyer is 40.

We continue to be attracting young families to town mainly due to the schools and excellent facilities. The market this early spring is booming in the price range of under $900,000 for sure. The condo market is extremely active with rates still low. A strong 2004 real estate season will help keep prices moving upward. This week rates for 30 year fixed are 5.07% and the 5/1 ARM is 3.81%.

Periodically people ask me about the taxes involved in selling their home. It is as follows:

• The State of Connecticut conveyance tax on the sale of residential property is .005 per cent of the first $ 800,000.00 and .01 per cent of everything in excess.

• The Town of Ridgefield conveyance tax is .0025 per cent (note: the legislature has authorized eighteen specific cities and towns to charge a higher local conveyance tax, but Ridgefield is not one of those).

• Example: sale of $ 700,000 house = $3,500.00 State Conveyance Tax and $1,750.00 Town Conveyance Tax

• Example: sale of $ 1,000.000 house = $ 6,000.00 State Conveyance Tax ($ 4,000.00 + $ 2,000.00) and $ 5,000.00 Town Conveyance Tax.

As interest rates rise approximately 1.5 to 2%,and we don’t know when that will be, the monthly amount of mortgage payments can be affected by about a 40% increase in the interest portion of the bill. This rate increase would have a significant effect on how much carrying costs people can handle – which in turns starts to affect the selling prices of homes.

We are probably at one of our strongest selling times right now. Rates are the same right now as they were last summer.

Currently we have 25 homes available for sale from $349,900 (our least expensive house) to $600,000.

Average market time is 44 days. There are 45 homes from $600,000 to one million, and 60 homes for sale over one million. The upper end is a little slower than the mid range.

I am enclosing my favorite article from the N.Y. Times where I was featured this month. Also, F.Y.I., be sure to spring forward and turn your clocks ahead late Saturday April 3rd.