Fair 082613

Page 1

FAIRFIELD COUNTY

BUSINESS JOURNAL yOur Only sOurCe fOr regiOnal Business news | westfaironline.com

august 26, 2013 | VOl. 49, no. 34

TOP-DRAWER HOMES LOSE THEIR LUSTER

FCBJ this week CLASS IN SESSION A mixed bag of results in standardized testing … 10

By JenniFer Bissell

SANDY’S BILL The superstorm gave its best; insurers countered … 15

jbissell@westfairinc.com

M

oderately priced homes in Fairfield County are seeing huge spikes in terms of prices and number of homes sold, according to a new report. While the average price of a home sold in New Fairfield increased 66 percent in July compared to last year, the average price of a home sold in Old Greenwich, one of the wealthiest neighborhoods in the state, decreased by nearly 40 percent, according to data released by real estate company William Raveis. “The higher-end pricing is not seeing a comeback as well as the moderately priced homes,” said William Raveis, principal of the largest family-owned real estate company in the Northeast. “Average prices are starting to increase

THE LAW AND THE TWEET Lawyers weigh in on social media’s little-contemplated legal arena … 17 THOROUGHLY TASTEFUL FCBuzz discovers why you can take the person from the town, but not the town from the person … 18

MEDIA PARTNER

» Homes, page 6

Vinnie Fusco, general manager of the Stamford Media Center, and Tracie Wilson, senior vice president of programming and development, NBCUniversal, in Stamford.

RENT!

star power

sPrinGer anD others fUeL tv BooM By JenniFer Bissell jbissell@westfairinc.com

Jerry sPrinGer aGrees his show is an absurdity. But that doesn’t mean it’s not good for Stamford. “It’s nothing but a circus,” Springer said in between show tapings at the Stamford Media Center. “But you’ve got to see it. I think that’s the magic of the show.” And from the state’s perspective, which issues tax credits for the talk show, he’s right. The state wants to keep Springer and

NBCUniversal’s three other talk shows running at the Stamford Media Center. In 2012 NBC spent $57 million in Connecticut through the Stamford Media Center, making it eligible for $17 million in tax credits. Both parties consider it a good deal. The shows mean additional spending in the state that wouldn’t happen otherwise. But they also create a more vibrant community and industry, according to the state Office of Film, Television & Digital Media. Since the state established the film and digital media

aPartMents soar; staMforD JoBs fUeL Gen Y MarKet By Bill Fallon bfallon@westfairinc.com

Norwalk has caught a case of Brooklynitis, embracing rentals to attract young professionals. The so-called Gen Y’ers who are driving today’s rental market increasingly eschew the American dream of homeownership in favor of renting; and when they do buy they are six years older than a generation ago.

» Star, page 6

+

6

WHAT A DUMP

» Rent!, page 3

NEWS NOON @

Sign up now at westfaironline.com


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.