Does a Nearby Cemetery Impact Your CT Home's Resale Value?

What a morbid subject- no one even likes to say "the word".  Unfortunately, there are times when you must have this discussion.  For some people, close proximity to a cemetery simply doesn't matter, and yet, for others it is an absolute  deal breaker. Some buyers don't even want to pass by a cemetery to get to their home.

The fact of the matter is, that yes, it does impact your resale value.  There is a good side to that and a not-so-good aspect as well. It's up to you as to whether  the positives outweigh the negatives, or vice- versa.

As close proximity will affect resale value, even if it's not for all buyers, the bottom line is that it still affects property value for some.

If you are in the market to purchase a home, then you can expect to get a better deal on that home because of its location. It would be worth more in another area. That just goes back to the old saying about the most important thing in real estate being  "Location, location, location".

If you are selling your home near a cemetery, understand that there are buyers that just won't look at your house, no matter what. Expect to have a longer than average market time, but consider this- You bought the home- and  your buyer will probably purchase your home for many of the same reasons that you did.

A good marketing plan designed specifically for your home will get the job done, and I know just the right Realtor for you- (that's me!)

And a note From Judy: If you have a question about buying or selling a home in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Mortgage Fees are Increasing for Closings After April 1, 2012

Another good reason to close on your new  home before April 1, 2012.

Congress voted in December of last year to increase the guarantee fee charged by Fannie Mae and Freddie Mac, and premiums for mortgage insurance that are charged by the FHA for new mortgage loans.

The amount of the increase that begins April 1, 2012 is equal to 0.1 of 1 percent, (10 basis points) and is approximately $10 per month for each $100,000 of the loan.

Lenders may choose to either raise rates slightly to cover this additional cost, or charge higher fees. Banks and mortgage lenders will need to implement these fees sooner for new loans, so that they are being  incorporated into loans closing on and after the deadline.

IMPORTANT: If you are in the midst of a mortgage application, go through the fine print. ASK your attorney to review it as well. This fee may be in your loan package even if you are closing prior to April 1, and NOW is the time to get it removed.

For example, if you are getting a loan of $350,000 that is amortized over  30 years, this new fee translates to $12,600 that you should not have to pay.

And a note From Judy: If you have a question about buying or selling a home in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Electrical Safety Precautions in Your Connecticut Home

Electricity is an essential part of our lives. However, it has the potential to cause great harm. Electrical systems will function almost indefinitely, if properly installed and not overloaded or physically abused. Electrical fires in our homes claim the lives of 485 Americans each year and injure 2,305 more. Some of these fires are caused by electrical system failures and appliance defects, but many more are caused by the misuse and poor maintenance of electrical appliances, incorrectly installed wiring, and overloaded circuits and extension cords.  Some safety tips to remember:

• Never use anything but the proper fuse to protect a circuit.
• Find and correct overloaded circuits. 
• Never place extension cords under rugs. 
• Outlets near water should be GFCI-type outlets. 
• Don't allow trees near power lines to be climbed. 
• Keep ladders, kites, equipment and anything else away from overhead power lines. 

Electrical Panels

 

Electricity enters the home through a control panel and a main switch where one can shut off all the power in an emergency. These panels are usually located in the basement. Control panels use either fuses or circuit breakers. Install the correct fuses for the panel. Never use a higher-numbered fuse or a metallic item, such as a penny. If fuses are used and there is a stoppage in power, look for the broken metal strip in the top of a blown fuse. Replace the fuse with a new one marked with the correct amperage. Reset circuit breakers from "off" to "on." Be sure to investigate why the fuse or circuit blew. Possible causes include frayed wires, overloaded outlets, or defective appliances. Never overload a circuit with high-wattage appliances. Check the wattage on appliance labels. If there is frayed insulation or a broken wire, a dangerous short circuit may result and cause a fire. If power stoppages continue or if a frayed or broken wire is found, contact an electrician.

 

Outlets and Extension Cords

Make sure all electrical receptacles or outlets are three-hole, grounded outlets. If there is water in the area, there should be a GFCI or ground-fault circuit interrupter outlet. All outdoor outlets should be GFCIs. There should be ample electrical capacity to run equipment without tripping circuit breakers or blowing fuses. Minimize extension cord use. Never place them under rugs. Use extension cords sparingly and check them periodically. Use the proper electrical cord for the job, and put safety plugs in unused outlets.

Electrical Appliances

Appliances need to be treated with respect and care. They need room to breathe. Avoid enclosing them in a cabinet without proper openings, and do not store papers around them. Level appliances so they do not tip. Washers and dryers should be checked often. Their movement can put undue stress on electrical connections. If any appliance or device gives off a tingling shock, turn it off, unplug it, and have a qualified person correct the problem. Shocks can be fatal. Never insert metal objects into appliances without unplugging them. Check appliances periodically to spot worn or cracked insulation, loose terminals, corroded wires, defective parts and any other components that might not work correctly. Replace these appliances or have them repaired by a person qualified to do so.

 

Electrical Heating Equipment

Portable electrical heating equipment may be used in the home as a supplement to the home heating system. Caution must be taken when using these heating supplements. Keep them away from combustibles, and make sure they cannot be tipped over. Keep electrical heating equipment in good working condition. Do not use them in bathrooms because of the risk of contact with water and electrocution. Many people use electric blankets in their homes. They will work well if they are kept in good condition. Look for cracks and breaks in the wiring, plugs and connectors. Look for charred spots on both sides. Many things can cause electric blankets to overheat. They include other bedding placed on top of them, pets sleeping on top of them, and putting things on top of the blanket when it is in use. Folding the blankets can also bend the coils and cause overheating.
 

 

Children

 
Electricity is important to the workings of the home, but can be dangerous, especially to children. Electrical safety needs to be taught to children early on. Safety plugs should be inserted in unused outlets when toddlers are in the home. Make sure all outlets in the home have face plates. Teach children not to put things into electrical outlets and not to chew on electrical cords. Keep electrical wiring boxes locked. Do not allow children to come in contact with power lines outside. Never allow them to climb trees near power lines, utility poles or high tension towers.

 

Electricity and Water

A body can act like a lightning rod and carry the current to the ground. People are good conductors of electricity, particularly when standing in water or on a damp floor. Never use any electrical appliance in the tub or shower. Never touch an electric cord or appliance with wet hands. Do not use electrical appliances in damp areas or while standing on damp floors. In areas where water is present, use outlets with GFCIs. Shocks can be fatal.

 

Animal Hazards

Mice and other rodents can chew on electrical wires and damage them. If rodents are suspected or known to be in the home, be aware of the damage they may cause, and take measures to get rid of them.

 

Outside Hazards

There are several electrical hazards outside the home. Be aware of overhead and underground power lines. People have been electrocuted when an object they are moving has come in contact with the overhead power lines. Keep ladders, antennae, kites and poles away from power lines leading to the house and other buildings. Do not plant trees, shrubs or bushes under power lines or near underground power lines. Never build a swimming pool or other structure under the power line leading to your house. Before digging, learn the location of underground power lines.

Do not climb power poles or transmission towers. Never let anyone shoot or throw stones at insulators. If you have an animal trapped in a tree or on the roof near electric lines, phone your utility company. Do not take a chance of electrocuting yourself. Be aware of weather conditions when installing and working with electrical appliances. Never use electrical power tools or appliances with rain overhead or water underfoot. Use only outdoor lights, fixtures and extension cords. Plug into outlets with a GFCI. Downed power lines are extremely dangerous. If you see a downed power line, call the electric company, and warn others to stay away. If a power line hits your car while you are in it, stay inside unless the car catches fire. If the car catches fire, jump clear without touching metal and the ground at the same time.

 

MORE SAFETY PRECAUTIONS :

• Routinely check your electrical appliances and wiring.
• Hire an InterNACHI inspector. InterNACHI inspectors must pass rigorous safety training and are knowledgeable in the ways to reduce the likelihood of electrocution.
•  Frayed wires can cause fires. Replace all worn, old and damaged appliance cords immediately.
• Use electrical extension cords wisely and don't overload them.
• Keep electrical appliances away from wet floors and counters; pay special care to electrical appliances in the bathroom and kitchen.
• Don't allow children to play with or around electrical appliances, such as space heaters, irons and hair dryers.
• Keep clothes, curtains and other potentially combustible items at least 3 feet from all heaters.
• If an appliance has a three-prong plug, use it only in a three-slot outlet. Never force it to fit into a two-slot outlet or extension cord.
• Never overload extension cords or wall sockets. Immediately shut off, then professionally replace, light switches that are hot to the touch, as well as lights that flicker. Use safety closures to childproof electrical outlets.
• Check your electrical tools regularly for signs of wear. If the cords are frayed or cracked, replace them. Replace any tool if it causes even small electrical shocks, overheats, shorts out or gives off smoke or sparks.

In summary, household electrocution can be prevented by following the tips offered in this guide and by hiring an InterNACHI inspector.

This article has been submitted by:

Nick Gromicko, FOUNDER. http://www.nachi.org
International Association of Certified Home Inspectors (InterNACHI) is the world's most elite, non-profit inspection association.
President, ComInspect, www.cominspect.com
Director, Master Inspector Certification Board, www.certifiedmasterinspector.org
Author, 15 books and Co-Host of  http://www.NACHI.TV

And a note From Judy: If you have a question about buying or selling a home in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Seller Home Staging Tips: Focus FIRST on the Top Ten No-Cost Fixes

When it comes time to sell your home,  it is important to stage your home properly and effectively for the market. You only have one opportunity to make agreat first impression- Don't let it slip through yoru fingers.  While most agents are well versed in home staging techniques, and will offer some advice, some other agents  may refer you to home staging specialists. I  for one,bring my 28 years of expertise to the table, and even "stage your home for digital marketing, which has a somewhat  different strategy.

If you happen to be doing research on getting your home ready to go on the market, one thing is for certain- whenever  you see an article on staging, the top of the list always seems to be "cleaning and/or de-cluttering".

That's for good reason, and if you only did ONE thing to help you sell your home besides pricing it properly, with the help of a great agent (like me) cleaning and de-cluttering would be the single best way for you to help your home sell as quickly as possible, and for as much money as the market will bear. We have put together our Top Ten list of areas to clean and declutter  for your convenience.

The Top Ten Cleaning and Decluttering Areas of Your Home to Pay Attention to, in Order of Importance:

1. Your Home's Front Entrance: Remove leaves, snow , dirt, cobwebs, or excess anything on your front porch and front yard.

2. Your Home's Interior Front entry area: Keep your entrance sparkling clean, and make sure the front hall closet is NOT overstuffed with various items.

3. The Kitchen: There are many things to do in the kitchen. Take as many items off the countertop as you can, remove any and all refrigerator magnets, and visible dishcloths and sponges. Clean the inside of your cabinets and remove rarely used items so that it appears you have a lot of storage. Keep the kitchen spotless!

4. The Bath(s): The bathroom should be sparkling clean at all times- no ifs, and, or buts.

5. Closets: The most forgotten about staging tip. A jam packed closet gives the subliminal message that you don't have enough room in there. For linen closets, keep your finest linens in the closet, and store the others. Make sure items are neatly stacked and folded. For bedroom closets, store clothing and shoes that are rarely worn in another location, so that the closet looks as big as it possibly can.

6. Family Room: Remove excess magazines, remotes, and "chachke". Sparse decor is actually better- it won't detract or distract from the room. Ditto for the living room, by the way.

7. Bedrooms: Remove excess items from the top of dressers, bureaus, and tables, and any collections of stuffed animals, or bric-a-brac that  may be distracting.

8. Yard: Maintain your yard in show-condition. And here's an unpopular tip but a wise one- If your immediate neighbor is not that concerned about his/her yard, you may want to approach them and do some maintenance for them on their yard. Buyers judge everything- even your neighbors

9. Basement: DO NOT PAINT THE BASEMENT FLOOR. It will look like you are trying to hide something. If you have a lot of boxes, arrange them neatly, and make sure that a buyer can walk through your basement without feeling like they are walking through a maze. Contrary to what you might think, a  few boxes in the basement is actually a good thing. It lets buyers know that you are unconcerned about moisture or water damage to whatever you have stored down there.

10. Garage: Make sure your garage is clean and uncluttered.  Organization is key in this area. So is a clean swept floor.

In general, remove most or all personal effects from every room in the house. For safety and security reasons, remove prescription drugs, jewelry and small valuables from reasonable view.

 And a note From Judy: If you have a question about buying or selling a home in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Connecticut Financing Update and Today's Mortgage Rates February 3, 2012

Government Initiatives Update: The HARP 2.0 initiative was aimed at helping agency homeowners refinance. Then came HAMP 2.0 (this past Friday), aimed at encourageing more modifications. Yesterday Obama unveiled a separate refinancing program targeted at non-agency homeowners (making refinancing easier for mortgages not backed by Fannie or Freddie). Finally, in the coming days/weeks we could get a final foreclosure settlement as well as a plan to sell foreclosed homes in bulk. In aggregate, all these policy moves could help at the margin but most believe they fall short of some grand Fannie/Freddie automatic refinance plan for which some investors had hoped.

 

There are many questions about how 2^nd mortgages fit into refinancing plans, and how institutions should handle the potential losses on the write-downs. This week the Board of Governors of the Fed, the FDIC, the National Credit Union Administration, and the OCC "issued supervisory guidance" on allowance for loan and lease losses (ALLL) estimation practices associated with loans and lines of credit secured by junior liens on one- to four-family residential properties.

This week MetLife Mortgage closed it's doors, loans in process must fund by April 30, 2012 and Citi Bank has just ended its wholesale division.   Of the major, top 4 or 5 investors who had wholesale divisions a few years ago, or bought loans from correspondents who dealt with brokers, who is left? Wells Fargo. Bank of American is gone, Citi is now gone, GMAC/Ally has scaled back, Chase won't buy TPO business. SunTrust is going through a massive retooling. That being said, there are plenty of investors and lenders willing to step into this arena, and already have.

Today's Mortgage Rates

30 Year Fixed 3.875% - 0 points for the rate

15 Year Fixed 3.125%

10 Year Fixed 2.875

5/1 ARM 2.875%

7/1 ARM 3.125

 

FHA

30 Year Fixed 3.50 %

Jennifer Buchanan,  Certified Mortgage Planning Specialist  is a seasoned veteran of the Mortgage, Banking and Broker Industry and specializes in mortgage loans throughout Fairfield County, Connecticut.
   Her attention to detail is unsurpassed, and her understanding of the marketplace makes it easy to find the right loan to fit her clients specific needs .  Jennifer's local processing and closing team are also known for their exemplary service.
   Understanding that the vast majority of mortgage brokers never discuss the long or short term  financial needs or goals with their clients, she set herself apart from the rest by obtaining the coveted CMPS  designation. (Certified Mortgage Planning Specialist)
    She is a member of the National Association of Responsible Loan Officers, and her commitment to ethics, understanding of the marketplace, and business acumen have earned her the respect of her peers and clients alike.

 

Jennifer Buchanan

jhvb51@aol.com