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Welcome to The CT Home Blog

All about Connecticut Real Estate and Homes For Sale. Whether you are buying or selling real estate,  you have come to the right place. The CT Home Blog offers real estate tips. home buying and home selling advice,  other useful information, and we update current mortgage rates for Connecticut every Friday. There is plenty of local town demographics on our site and market statistics, too. Bookmark us, tell your friends, and come back often. We're here at TheCTrealtyBlog.com  to service your needs whenever you are ready. -Judy

 

Wednesday
Feb022011

It's time to de-clutter!

I don't know know about you, but I have seen some of the worst cases of home clutter known to man during my career. I can be conservative and  estimate that I have been in more than 30,000 houses and I've seen more than you are probably interested in hearing about!  Even if you are not planning to put your home on the market for another week, another month, or sometime in the near future, take advantage of the nasty weather we're having right now and do something for you that will actually make you money when you sell.

DE-CLUTTER.

In a kitchen that means, take off all the magnets and pictures from the refrigerator , keep the counters clean (so you and prospective buyers can see that you have a lot of counter-space) and get rid of the extra stuff  that seems to accumulate in the kitchen.

Your living room is another place to get the extra "stuff" out. Unfortunately, that means getting rid of all, or almost all of the family photos on the wall besides getting rid of extra furniture to make the room look bigger.. You may ask why  remove personal photos?...Because it does not allow the buyer to imagine the home as his/her own when they see it. That's a subliminal message, but a VERY important one.

I'm happy to come out to your home,  give you the staging advice that you need, and assist you in the process. (Okay, another shameless plug! ) As always, feel free to call, text or email me, as well as post a comment on the blog if you like. All are welcome!

 

 

 

Tuesday
Feb012011

What exactly is the Spring Market and when does it happen?

Now that's an interesting  term,  "the Spring Market".  Here are three misconceptions about what is called  the Spring market-  

  •  The Spring Market the best time to sell your home,
  •  The Spring Market is starts in March, or April
  •  You get a better price for your home in The Spring Market.

Okay, let's talk about the best time to sell your home.   You know, everybody says they will put their home on the market in the Springtime. Did you ever think that if this is so, that all of these homes are competing with one another in the marketplace?  There are only so many buyers. Let me put it this way- if there are 10 buyers looking at an area, and there are 200 homes available in that area, the odds are that -homeowner has a 20% chance to sell their home, right? Let's take the same scenario in the Fall -6 buyers looking at 120 homes on the market. same stats, right?  In fact, the Fall market has always been just as strong for me as the Spring Market. There is one extremely important fact that the Spring or Fall Market leaves out. That is, the best time to sell your home is when you are ready.

The Spring Market (can we say the Spring Home Season, please)  actually starts in mid-January, and by March 1, its already half over. So get off your duff if you want to sell your home, and call me. :)

And what exactly is a better price?   I could write a book on that subject alone. (And I have written a book, it's called "The Art of Buying or Selling a Home" . Shameless plug, I know.  Let's talk about the relativity of price. Let me put this into a scenario for you. Let's say your home is listed at 600,000, you know you would take 590,000 right now, and your mortgage is 3,000 per month.  Your home has been listed for 30 days and you get an offer of 575,000. (that's after going back and forth and back and forth) Well, that deal doesn't go together, so your home sits on the market, and you finally get another offer 5 months down the road.  These people are willing to pay you $585,000 and so you take it. But did you really get more for your house? What do the net numbers say?

For the 575,000 sale we can subtract  3 months of home expenses. (one month being on the market and two months to close), so the final net is 566,000.

For the 585,000 sale we  subtract 7 months  expenses 564,000.

Yes, they are close but "time value of money" prevails,  in this case the 575,000 sale nets you more money in the end. The  additional 2,000 in this scenario is not money to be thrown away. Besides that, You might also consider that if interest rates fluctuate  just 1/2 of 1 percent, the difference in money invested over the life of the loan can be very dramatic.

I said it before and I will say it again. THE BEST TIME TO SELL YOUR HOME IS WHEN YOU ARE READY.

 

 

 

Sunday
Jan302011

Make sure you check all of the fees for your loan!

I usually do a rate check on Monday and Friday mornings, but I decided to check them today and  give you an update. Generally, you see interest rates that range from bank to bank, and from credit score to property, etc., but one very important item  remains wherever and whenever you look. By the way, today's rates can vary anywhere from about 3.75% for a 15 year loan  to 4.75% for a 30 year fixed rate  loan. Another  variable to that  is the fees, and all the fees produce your APR (Annual Percentage Rate) That's why you can look at an annual interest rate and see that the APR is  higher. That means that the rate actually ends up being more with all the fees associated with that loan. The bank will take points, for example, (and other up front fees) , which in effect reduce the amount of the actual loan, although the payment stays the same. When that is done, the new rate reflects the same payment spread out over the term of the loan, which is why the APR can be higher.

Here is a link to an online banking resource for your own overview of the rates.

 

Friday
Jan282011

The weather is picking up, and so is the market!

Well, hopefully, you're all safe and sound and not too worn out from all the shoveling.  If you are interested in town data, I have put the last week's statistics for each town on their respective sites, although you can always e-mail me with any questions that you have, or interpretations that you might want. Tomorrow is a great day to look at houses- you just never know when the right one is going to come, but I will tell you this, and it is absolutely true.  No matter how pushy the salesman, no one can sell you a house that you don't want.  Personally, I will tell a pushy salesman to get lost. Here's what I know and understand in my heart-  YOU will know it's your house when you walk in.  The best agents (like me!) will just get you to that house, understand the emotions surrounding the purchase, and get you the best deal possible.

Wednesday
Jan262011

Snow, snow and more snow! But there is a bright side!

Of course there is! depending on your real estate situation, you can do the following:

Buying - Don't be afraid to go look at houses in this weather! You can learn more than you think! See  how well the street is plowed, if any ice accumulates in certain areas around your home, and whether there is any noticeable heat loss near any of the windows and doors.

Selling - Make sure there is a clean pathway to your home!! That includes the driveway! There is nothing worse for an agent AND A BUYER who  cannot access your property safely. Just the other day, my client fell on the walk going to the house. He soured on that home before he even got to the door. Don' let it happen to you.  Also, take this homebound opportunity to spruce up closets, cabinets or that catch-all area that may be in the garage, basement or porch. Your home will show better for it.

 

 

 

 

 

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