Best Fairfield County CT Towns to Buy New Construction -November 2011 update

Buying an affordable newly built home is easier than it has been for years! With current interest rates being as low, and the absorption rate being at least one year in many towns, some builders are starving for sales. As a ready willing, and able buyer, you can pretty much call the shots on your newly built home in a number of towns.

Don't forget the "best of the best" picks below the chart

The chart below lists many of the towns in Southwestern CT in alphabetical order by County, and includes the following information:

• How many single family homes are available as of today 11/11/11.

• The number of available homes that were built after 1/1/2009

• The highest  and lowest prices of those available homes

• How many new construction homes sold in 2009, 2010, and 2011 YTD, respectively.

Southwestern Connecticut Best Towns For New Construction:

Best Selection:

Westport
Fairfield
New Canaan
Shelton

Most likely towns to get the best deal:

Easton
Redding
Monroe
Trumbull

Best bets for Builders to invest in spec:

Milford
Fairfield
Westport
New Canaan

Wherever you want to buy your new construction home, I will negotiate the very best deal for you. Just contact me when you're ready!

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Connecticut Mortgage Rates and Financing Update Nov 11, 2011

For the first time in nearly two years,  the demand for mortgage loans to purchase homes is strengthening, not weakening, according to a Federal Reserve opinion survey on bank lending practices . The October survey is based on responses from 51 domestic banks and 22 U.S. branches and agencies of foreign banks.

Reports of strengthened mortgage demand outnumbered reports of weaker demand for the first time since early 2010 may reflect refinancing activity. Few banks reported any change in lending standards for home loans.

"Savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 60 years to lock in interest savings," says Frank Nothaft, Freddie Mac vice president and chief economist.

....and this from Zillow -

"The peak summer home buying season is over for the year, with fewer home sales to show for it than one would expect based solely on the underlying fundamentals of price and financing costs. Home affordability is at historic lows courtesy of a large reset in home prices and continued low mortgage rates," said Zillow Chief Economist Dr. Stan Humphries. "We're clearly dealing with a crisis of confidence that is keeping potential buyers on the sidelines, fueled largely by high unemployment and more general economic uncertainty. That said, given the steady drumbeat of recent negative economic news, home values held up better than would be expected. We have been forecasting a housing bottom in 2012, at the earliest, and third quarter data further confirms this forecast.

Today's Mortgage Rates

30 year fixed - 3.99% + 0% cost points for rate
20 year fixed - 3.875% + 0 % points for rate
15 year fixed - 3.250% +  0% points for rate
10 year fixed - 3.125%  + 0%  points for rate
5/1 ARM - 2.50%  +0 points for rate
7/1 ARM - 2.750 %  + 0 points for rate
10/1 ARM 3.250% + 0 points for rate

FHA/VA
30 year fixed - 3.875% with +0 % points for rate
5/1 ARM - 2.75%  with + 0 points for rate
7/1 ARM - 3.25 with +  .625 % CREDIT  point for rate

Jumbo - over 576,000 (in Fairfield County, CT)   to 2,000,000
30 year fixed - 4.750  % with 0 points  for rate
15 year fixed - 4.125% with +.250% points for rate
5/1 ARM - 3.375% - 0 points for rate
7/1 ARM - 3.750 % - 0 points for rate
10/1 ARM - 4.375% with 0 points for rate

Jennifer Buchanan,  Certified Mortgage Planning Specialist at MetLife Loans 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
Metlife Loans
203-341-6949

Jennifer Buchanan- Your certified expert
 on mortgages offering Free Unbiased
recommendations based on your needs.

Your house still didn't sell? Maybe you just need another Realtor.

If your home has been listed  and didn't sell, it's not necessarily the state of the real estate market that is at fault.   

When your home has been on the market for  four, five or  six months or more, and especially when properties seem to be selling all around you, I can tell you unequivocably that the problem is definitely NOT the state of the real estate market.  It may even be your agent.

It's the marketing, period.

So please don't get discouraged..  Think about it just for a second. If you are reading this article, you're reading it because I have finessed my own marketing and I can finesse your home's marketing and get your home sold, too.

Proper marketing is always appropriate marketing, and having the knowledge, ability and wherewithal to position your home IN the market, and not just put it "on the market".

That means presenting your home truthfully, appropriately and effectively in print, online and in person to buyers as well as Realtors, and utilizing unique marketing approaches that are tailored specifically to your home.

I am in the business of selling homes, and I'd like to be in business with you. Contact me today to get your home IN the Market, and I WILL get your home sold.

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Why it is So Important to Get That Real Estate Agreement in Writing

Why are Real Estate Contracts in Writing?
The answer is the Statute of Frauds. The purpose of the “statute of frauds” is, as the name suggests, to prevent injury from fraudulent conduct and misunderstandings that can occur with oral contracts. The statute of frauds doctrine comes from an English rule dating back to the 1600’s that require certain types of contracts to be in writing or else they are not enforceable in court actions.    

The Connecticut Statute of Frauds lists the types of agreements that must be in writing and one of them is “any agreement for the sale of real property or any interest in or concerning real property.”

Not only do agreements for the sale of real property have to be in writing, but they also have to contain the contract’s essential terms. These essential terms are:
a. The price;
b. The parties to the contract;
c. The land

Although a contract that doesn’t satisfy the “statute of frauds” would not be void, it would be voidable by one of the parties in the event that the party does not wish to follow through on the agreement.

The weekly Tip-of-the-Week* is supplied by Only Closings --

a law firm devoted to real estate closings.

      - Our closing staff is made up of seasoned, experienced real estate attorneys.
      - Close where it is most convenient for the client (home, office, job or bank)
      - Very competitive closing fee and no hidden fees!
      - No fee consultations.
      - Personalized, responsive service from all of our attorneys and paralegals

  To learn more about Only Closings and how they can help you quickly close a property transaction, call them at 203-563-9677 or visit them online at www.OnlyClosings.com

*The content within the "Tip-of-the-Week" is strictly for informational purposes and not intended to be interpreted and/or used as legal advice. Only Closings and OnlyClosings.com is a service provided by Tamara L. Peterson Attorney at Law LLC.

How and Where to Find a Good Apartment or Rental in Fairfield County CT

If you relied on an internet search to find an apartment or home for rent in Fairfield County CT, you would find only a handful. Why is that?

There actually are a number of very good rentals available in Fairfield County, Rental listings are just surprisingly difficult to find unless you are working with a Realtor.

The top five website results from a basic search query don't have 95% of the available rentals in Fairfield County! Surprising and certainly quite disheartening for anyone looking for an apartment. For example, the top fve included  Rentals.com, Forrent.com, apartmentguide.com, move.com and even yahoo real estate search - all of them turned up less than ONE percent of everything that I know for a fact to be available. Yes, you can always look on Craigs List- there are a few apartments and/or rentals on their site, but their search criteria leaves a lot to be desired.

A lot of prospective tenants do not know that there are a handful of Realtors who  like to work with tenants and DO NOT charge a finders fee. I have access to hundreds (yes, hundreds) of rentals where you, as my client, do not have to pay me or my agency a fee. What's more, I will give you access to the rental database of all of these homes complete with addresses.

If you would like an no-obligation apartment rental search account, I will be happy to set you up with one. Just send me an email with your parameters, and you can get started right away. You can also use the MLS search on my site, which has all of the rentals online that are listed through the Fairfield County MLS system.
 
Start your search now, or fill out this short online form and I will set up a specific rental search for you. No fees, no obligations. When you want to see a property or properties, I ask that you just contact me, and I'll set up appointments.

Landlords: If you are in need of a tenant, please contact me. I will get your apartment or home rented in no time!

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