The Newest National Housing Stats- What You Probably Didn't See

Monthly housing reports always trigger headlines.  And today’s National Association of Realtors Existing-Home Sales Report for November is no exception.  Here are three nuggets of information that might get lost in the media coverage:

1. Median existing home prices are going up: The November national median existing-home price for all housing types is $196,300.  This is $15,700 more than this time last year, and $32,100 more than November, 2011.
2. Homes are selling fast: The median time on the market for all homes was 56 days in November, which is approximately 8 weeks. Last year at this time, the average time on the market was 70 days, approximately 10 weeks.
3. And faster!: Maybe the most important stat was buried in the seventh paragraph.  Get this, 35% of all homes sold within 30 days.  Wow! 

There is clearly demand for homes, but that demand is not being met by supply, since we also learned that inventory, the amount of homes available for sale, is at a 5.1 month supply.  While that might sound like a lot, it is a full month below a traditional balanced market of 6 months.  Therefore, in most locations around the U.S., supply is not meeting demand and therefore sellers are in the driver’s seat equating to higher prices.

One other interesting thing I find fascinating in each NAR report is the use of the term “median.”  Quick!  Are you smarter than a 5^th grader?  What’s the difference between median and average home price?

Median is the exact middle point of all homes sold while the average is the cumulative sales number, divided by the number of sales recorded.

But what does a median home look like?  I thought it would be fun to see and found five Coldwell Banker listings from around the nation that matched the nation’s current median price of $196,000:

• Beautiful ranch style home on three acres in Wakefield, NH
• 4-bedroom 2.5 bath family home in Lake Jackson, TX
• Home with two units – one to live and one to rent – in Prineville, OR
• 4-bedroom 2 bath home in Pooler, GA
• Home with a scenic lake view in Winter Haven, FL

The preceding was an excerpt from a Guest post from Dianne Falaguerra with our partner agency CooperKatz on "Coldwell Banker Blue Matter"

Buying or Selling a Home in Fairfield County?  Contact Judy!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

What? Your Agent Hasn't Returned Your Calls?

Really, truly, and quite seriously - You should have ZERO tolerance for an agent who does not return calls promptly (or emails, for that matter).

When you interview agents to assist you in the home selling or homebuying process, one of the first  questions you should ask is, "What is your standard time frame for returning calls and/or emails?"

Why is this so very important?

FOR SELLERS: When a buyer wants information about your property, and inquires about YOUR home to your agent, that buyer wants immediate service, or very close to it. Waiting a day is WAY TOO long.

Consider this- a high powered or Type "A" personality places an offer on your property, and your agent is lax in communication.   That buyer WILL walk, and who loses out? You do. Don't let it happen. You can get a very good idea as to the timeliness of the agents communication skills prior to listing your home. See how long it takes them to respond to you.

FOR BUYERS:  Are you willing to miss out on that fabulous property that just came on the market because your agent doesn't tell you about it? Or, just as bad, you tell your agent that you want to see a property, and it's already under deposit by the time they get back to you?

By the way, the agents that are not good at getting back to you are the same way with other agents, too- and trust me, none of us like it either.

Ask any one of my clients, or any of the agents that I do business with- they will all tell you that I get back to them very quickly- usually within just two hours, but most of the time within minutes.

Aren't you paying for the best representation? If you don't have it, contact me by email or phone, and prepare to get spoiled in a nice way.

Buying or Selling a Home in Fairfield County?  Contact Judy!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

December 17, 2013 -The Week in National Real Estate News (Video)

This week's national real estate news update -New construction up over 25 percent since October, mistakes all sellers make, get financially fit, tips to  keep clutter off countertops .  Click here for more- about moving, home buying strategies and interest rates.

Click here for this months newsletter and our video news channel.

Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Shoveling Safety Tips in Fairfield County CT

It's that time of year again- time to shovel, that is. Keep  everyone safe, including yourself with these handy shoveling tips.

Please remember that snow can be quite heavy, and it's much easier than you think to injure yourself while shoveling.

1. Don't be concerned about hiring someone if needed. If you are a senior citizen, unsteady on your feet, or out of shape, it would be much wiser to hire someone to do your shoveling for you.
2. Use a smaller shovel. the load will be lighter. Also, if your shovel is bent or damaged, go get a new one.
3. Before starting the task, be sure you have warmed up properly- for example, stretch like you would prior to an  exercise routine.   
4. Start slowly, work at a steady pace and take frequent breaks.  Stop and go inside if you become overheated
5. When you are shoveling snow be sure to rdrink plenty of fluids to avoid becoming dehydrated.  
6. Stand with your feet apart slightly and bend your knees as you lift. Your feet should point in the direction you are lifting and throwing in.
7. Take frequent breaks, and lay off the coffeee or caffeine, which can increase your heart rate.   

"When You Deserve the Best, You Deserve Judy"

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 The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

 Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY

Connecticut Financing Update and Today's Mortgage Rates 12/13/13

Rates are back on the steady upward climb.  Stocks dipped on Thursday as retail sales rose solidly in November, adding to signs the economy is strong enough for the Federal Reserve to begin reducing the pace of monetary stimulus.  The 10 year treasury is at 2.88%.  In recent months rates have been going higher and higher since early May.  Anyone looking to close within the next short term period then you might be better off locking into a rate now.

Today's Mortgage Rates

Conventional 30 year fixed          4.75%       APR 4.807%

Conventional 15 year fixed          3.875%     APR 3.969%

The above rates are based on a loan amount of $417,000 for a single family home, a borrower’s middle credit score of 780 and a 20% down payment.  If you would like a customized rate quote for your own specific loan scenario then please feel free to email me at nima@primeres.com or call me directly at 203.913.6016.

This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under any applicable law.

As a lending professional, Nima Rezvan meets a wide range of real estate lending needs, whether it be a first time purchase, second home purchase, or refinance. He welcomes the opportunity to serve your needs with quick and accurate real estate financing advice. With his expertise and knowledge, he will make sure you understand the features associated with the loan program you choose and that it meets your unique financial situation.

With more than 10 years of mortgage lending experience, Nima specializes in  Conventional Mortgages,  Jumbo Loan Financing, Refinance, First Time Home Buyers and Federal Housing Administration/Veterans' Administration (FHA/VA)

782 Clinton Avenue

Bridgeport, CT 06604

Phone: 203.913.6016

Email: nima@primeres.com

"When You Deserve the Best, You Deserve Judy"

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

 The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

 Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about buying or selling Real Estate in  Fairfield County, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :) - Judy

Search for properties on any of our sites, or get the very best visibility available for your home. Visit us online wherever you like: Find out more about Judy here

www.CThomesAndRealEstate.com      www.TheCTrealtyBlog.com     www.TheCTRB.com    and   www.CTfeaturedHomes.com 

 Email us or  call Toll Free (855) GET-JUDY