Connecticut Financing Update and Today's Mortgage Rates 8/2/13

Anticipation builds for Jobs Friday as everyone awaits to see the US jobs report data.  Rates increase once again when compared to last week.  The 10 year treasury is at 2.70.  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 as the rate climb seems to be an ongoing trend.

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

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1,349,900. See the virtual tour HERE

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:

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

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

Have Valuables? Here are the Top 10 and Worst 10 Hiding Places in Your Home

Burglary is a crime of opportunity.  And burglars don’t want to spend a lot of time looking through a home to find things of value to steal, which is why there are obvious locations that they always check.  That means that there are ways to outsmart them by hiding your valuables in not-so-obvious places, and sometimes even in plain sight.

Depending on the size and type of item, the best places to hide valuables are those that burglars don’t want to search through or wouldn’t bother with, including places that are inconvenient or difficult to search, messy, or uninteresting.

Here Are the Top 10:

 1.   hollowed-out books.  Criminals tend to be uneducated, which is why they’ve turned to crime to  make their living.  They’re practically allergic to books!  But if you have only a couple of books on a bookshelf, this may be a clue that they’re actually hiding places for your valuables, so make sure your library is large enough to serve as a tedious place to search.

2.    a false VHS tape or VHS carton.  Who watches VHS tapes anymore?  Again, follow the rules above for books.  A few can be a clue, but many can be a time-consuming distraction.

3.    false containers in the kitchen cupboard, under the sink, and in the bathroom, such as fake food cans and boxes, false cleaning product bottles, and personal hygiene items, and even in a heavy tub of "cat litter."  Some false containers available on the market today actually look like false containers, so you might want to save yourself the expense and create your own.

4.    in the false bottom or under the plastic liner of a bathroom or kitchen trash can.  No one wants to go pawing through your trash in the slim hope of finding something worth pawning.

5.    wrapped in plastic and aluminum foil and stored in the back of the freezer.  This is also a good place to store documents and paper currency in case of a house fire.

6.    in a floor safe in the bedroom closet.  While this location may be obvious, a burglar would have to exert a lot of time and energy—and create a lot of noise—trying to break into a floor safe, which is also generally of the heavy variety, making it not only hard to open, but hard to steal whole, if the thief had plans to break into it later.

7.    inside a house plant.  Using the same method as for trash containers, a plant’s soil can be contained in a waterproof liner that can be lifted up to hide items underneath.  Just make sure the items you’re hiding are in a waterproof container, too.

8.    inside a false wall outlet.  Make sure it’s not a live receptacle or in the way of any electrical wiring.

9.    within hollowed-out/removable building components, such as wainscoting, floor panels, door jambs, window sills, and cabinet doors.

10.    in the garage inside boxes marked with mundane labels, such as “Xmas Ornaments,” “Kid’s Clothes,” “School Projects,” etc.  Again, the more boxes you have, the longer the burglar will have to search—if he’s so inclined—to find something worth stealing.

Hiding Places to Avoid:

 1.   areas that can damage your valuables with water or invasive matter, such as the water tank of a toilet, inside a mayonnaise jar that still has mayonnaise in it, or a paint can filled with paint.  There are high-quality waterproof containers on the market that will allow you to hide items in water (and possibly other places), but err on the side of caution.  Documents, jewelry and electronics that become wet or permeated with chemicals or food matter may be damaged beyond repair in your zeal to outsmart a tenacious burglar.

2.    a jewelry box.  This is a good place to store jewelry that you can afford to lose, but not your diamond tennis bracelet or your grandmother’s antique wedding ring.

3.    your desk drawer, bedside drawer, or underwear drawer.  Too obvious.

4.    inside CD cases.  It’s true:  burglars still prefer CDs to MP3s.

5.    inside DVD cases.  DVDs and Xbox-type games are worth between $2 and $10 at pawn and re-sale shops; count on being cleaned out of your collection during a home burglary, regardless of the titles.

6.    a wall safe.  Unless it’s high-end and professionally installed, a wall safe can be dislodged by cutting the drywall seam around it, and wall safes are typically small and light enough to easily transport off site to be opened later.  Opt for the heavier and harder-to-access floor safe.

7.    inside picture frames with false backs/interiors.  These tend to be thicker than typical picture frames, so they’re easy to spot as a hiding place.

8.    a cookie jar.  Put cookies in it, not your grocery money.
     
9.    an electrical item or heated area, such as a lamp base, toaster oven, or HVAC duct.  You could accidentally ignite your valuables and put your entire home at risk for a house fire.

10.    any locked box or locking file cabinet.  A box that has a lock on it will be stolen regardless of what’s inside, and the lock on a file cabinet can be popped out with the right tool and a little effort.

Other Precautions

For valuables that you can’t hide or lock up, such as a flat-screen TV, stereo system, and computers, make sure they’re insured through your homeowner’s or renter’s insurance.  Unless you invest in a home security system (and sometimes even if you do), it’s not possible to protect every item in your home.  But you can take precautions to password-protect and GPS-activate laptops and smartphones so that their recovery is more likely, should they be stolen.

Also, firearms should be properly locked in an approved gun safe that is stored out of reach for the safety of the home’s occupants, as well as to deter theft.

Place a pole in the bottom track of your sliding glass patio doors so that they can’t be forced open wide enough to permit the entry of an intruder.  Install burglar-proof window locks that will allow you to leave your windows open slightly for fresh air, but not wide enough to allow a person to get through.

Remember that burglary is a crime of opportunity, so don’t tempt fate by leaving any exterior doors unlocked (including sliding glass patio doors, and the door between the garage and the living area), hiding a spare house key outdoors (under the “Welcome” mat, a large potted plant, statuary, or a solitary or fake rock), leaving the doors to your attached garage open (even when you’re home), or leaving the curtains or drapes open so that your valuables are in full view of prowlers and passersby.  Your personal safety is at risk as much as your personal property.

Also, don’t over-share personal information with the world by advertising your absence from home on social media.  When leaving on vacation, have a trusted neighbor, friend or family member monitor your home and bring in the newspaper, mail, and random take-out menu hung on your doorknob.  Install light timers indoors and security/motion detectors outdoors to illuminate your property’s exterior.  And go ahead and apply security company stickers to your windows/doors that advertise that your home is professionally protected, even if it’s not.   
In short, do what you can to make your home a difficult, inconvenient and time-consuming target that will force a would-be burglar to move on.  And do your part to keep your neighborhood safe by reporting suspicious activity on your street to the police.

by Nick Gromicko and Kate Tarasenko

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

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1,290,000. See the virtual tour HERE

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:

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

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

Connecticut Homeowner Tip: Guide to Buying the Right Light Bulbs

Whether you are buying or selling, just thinking about moving, or staying put- Buying the right light bulb can make all the difference,  no matter how silly or inconsequential that may seem.

When you show your home, you want the lighting to accent your home. When you move in to your new home, you want the same, but the amount of light the previous owner felt comfortable with may not work for you.

There are lots of choices out there, hopefully the following article will help you make the right decision for you, whether its about price and energy efficiency or aesthetics.

If you wind up with lighting that’s harsh, flat, or unpleasant — like when you’re trying on bathing suits in a retail dressing room — it won’t matter that you got that LED on sale or that it lasts forever. You’ll wish it didn’t.

For most home lighting, your choice boils down to three options, from most to least expensive:

    LEDs

    Fluorescents (including CFLs)

    Energy-efficient (halogen) incandescents, which meet the government’s new energy efficiency standards and aren’t being phased out.

So how do you choose?

Since January 1, 2012, the Federal Trade Commission has required a new “Lighting Facts” label. It was designed to help consumers break the habit of picking bulbs based on wattage to determine brightness. Now a metric called lumens is used for this task. Wattage only measures the amount of power a light bulb consumes.

Confused? Here’s an example: If you want to replace a 100-watt incandescent with an LED bulb and get the same brightness as the old bulb, you’d need a 27-watt LED bulb with an output of 1,600 lumens.

How to Read the New Label

While the new light bulb lingo sounds pretty complicated, it’s not once you get the gist. Here’s a breakdown of the “Lighting Facts” label:

Brightness: Here’s a quick tip: the brighter the light bulb, the higher the number. Standard bulbs range from 250 to 2,600 lumens.

Estimated Yearly Energy Cost: How does this add up? According to the U.S. Department of Energy, by upgrading 15 traditional incandescents in your home with energy-saving bulbs, you can save about $50 per year on your energy bill. Plus, energy-efficient bulbs produce about 75% less heat, so you may see additional savings when it comes to home cooling.

Life: The life of each bulb is estimated based on the usage described. Keep in mind that labels marked Energy Star meet strict energy efficiency guidelines set by the U.S. Environmental Protection Agency:
Energy Star LEDs use about 25% of the energy and can last about 25 times longer than traditional incandescents.

Energy Star CFLs use about 25% of the energy and last 10 times longer than a comparable traditional incandescent.

Light Appearance: Terms such as “soft white” don’t mean the same thing from brand to brand. To compare bulbs, you need to know their color temperature, which is measured in kelvins on a scale of 1,000 (the warmest — think candlelight) to 10,000 (the coolest — like a blue sky). LEDs, CFLs, and halogen incandescents all come in a wide range of color temperatures.

Here’s a quick kelvin breakdown for easy reference:

    The 2700–3000K range is warm and inviting.

    3500K casts a neutral light.

    4100K casts a cool and bright light.

    The 5500K-6500K range is closest to daylight.

Energy Used: As we mentioned above, wattage now only measures energy usage, not brightness. So the lower the wattage, the less energy used.

Contains Mercury: Have no fear; only CFLs have a small amount of mercury, so you won’t see this if you are purchasing LEDs or energy-efficient (halogen) incandescents.

What’s Not on the Label?

Not all specs are covered on the FTC label.  So we suggest searching for bulbs online if you’re seeking something really specific. You can often find the necessary info on manufacturers’ websites. Stuff you can look for includes:

How well the bulb shows off colors and textures. This is the key to whether you’ll be satisfied with the quality of light you get. Look for the color rendering index (CRI), a measurement of 1 to 100. The higher the bulb’s score, the better.

Incandescent halogen bulbs score a perfect 100. CFLs and LEDs don’t fare as well as a group, although some individual bulbs get high scores.

How the bulb casts off its light (in technical terms, beam spread). Let’s say you use track lighting to highlight a piece of artwork. “If you want to light a 15x9-in. picture on the wall, you don’t need a 4x4-ft. spread of light,” Witte says. “To be energy-efficient, match the beam spread with the task, putting light only where you need it.”

 Buying the Best Bulb for the Job

The key to setting the mood is combining different sources to create pleasing layers of light, says lighting designer Rosemarie Allaire. So here are a few more features to keep in mind that will help simplify the bulb selection process.

Halogen incandescent: They give off the same quality of light as the old bulbs, but save 25% on energy costs. They do cost more than the originals, but less than LEDs or CFLs. Plus, “Incandescent light renders color and texture beautifully,” Allaire says.

LED: “LEDs don’t have the three-dimensional light quality that incandescents do, and I find them to be flat,” Allaire says. “They’re all over the map as far as color rendering goes, and they don’t dim well, so I don’t use them in living areas or for art lighting. But their long life is a big plus.” Tip: LEDs will continue to improve rapidly as technology advances. But for now, be sure to check the label for color rendering and color temperature before you buy.

CFLs: CFL lighting is diffuse, so its color rendering generally isn’t up to snuff compared with incandescents. But if you find a particular brand with a color temperature you like, CFLs can work nicely in drop-bowl fixtures and table lamps — places where air circulates freely around the bulb. CFLs don’t do well with too much heat buildup.

Additional Tips:

Test-drive individual bulbs. Once you’ve picked a bulb based on the above criteria, buy one and see its light quality in a fixture at home before you commit to buying multiples.

Visit a lighting showroom. Lighting stores can connect you with a wider range of products than you’ll find in big-box stores. Also, the way a bulb casts light in a particular fixture is crucial, so view different combinations in a showroom setting.

Consult a pro. If you’re stuck, ask a lighting designer for help. The International Association of Lighting Designers is a good source for independent consultants (those who don’t sell products). Ask a designer for a one-hour consultation.

Article courtesy of houselogic.com

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

This Week's Edition of National Real Estate News 7/29/2013 (Video)

This week's national real estate news update -New construction sales up 29% since 2012, five signs it's time to buy a home, and home prices up nearly 20% in some areas.  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

Before You Buy a Home to Renovate in Fairfield County CT

The idea of buying an older property and renovating it into your dream home or a moneymaker is appealing to many people. But with that excitement also comes a lot of potential problems.

It's important that you know what you're getting yourself into. Before taking on a fixer-upper, consider if it's the right type of property for you and what it will actually take to renovate.
Decide What's Right for You

    Pros and cons. While a lower sales price, potential for resale profit, and a sense of personal satisfaction are certainly possible, there can also be a lot of unseen costs associated with buying a home that needs repair.
    Patience is required. Depending on the size of the renovation, a fixer-upper can take anywhere from a month to more than a year to complete. Be aware that you and your family's lives may be disrupted for a significant amount of time. If this doesn't work for your lifestyle, it's best to think about a different type of property.
    Money. Renovations can be very costly. If you won't have much money left over for renovations after your down payment and closing costs, you may want to consider a house you can live in while it's being fixed up. Whatever you decide, remember that there will be extra expenses no matter how carefully you plan.

What to Consider When Looking

    Location, location, location. It's the golden rule of real estate and also applies to fixer-uppers. Do your research. Check average home prices and schools in the area. Take a stroll around the neighborhood to see if the homes are well maintained. Buying the worst house on the best block that you can afford can be a great option.
    Condition. This can vary widely from a house requiring cosmetic repairs to a total gut rehab. If you want to minimize renovation costs, look for a home that has "good bones" — a solid roof and foundation, natural light, good floor plan, quality construction, and a coherent design.
    Layout. Many older homes are chopped up into several rooms and their layout may not work for you. While it is certainly possible to knock down walls and rearrange the floor plan, it can sometimes be expensive or impractical. Keep this in mind when thinking about your renovation budget.
    Configuration. Search for houses that have the approximate square feet and number of bedrooms and bathrooms you desire. While it is possible to add these things when renovating, they can really add up, especially if you expand the footprint of a house.

Repairs and Remodeling

    Budgeting. When considering a property, a fixer-upper calculator can help you get started with a rough estimate of renovation costs. A reputable contractor can also assist in the process.
    Minor renovations. These can include:
        Patching and painting walls
        Refinishing floors
        Laying tile or carpet
        Installing light fixtures and switches
        Fixing broken windows
        Installing new or refacing existing kitchen cabinets
        Replacing doors
        Painting the exterior
        Adding a deck
    Major renovations. These can include:
        Replacing HVAC systems or adding central air
        Fixing foundations
        Replacing the roof
        Installing new plumbing, sewer lines, or wiring
        Replacement windows
        Kitchen and bath remodels
        Building garages and additions
    Financing

    Federal Housing Administration offers a 203k loan that allows borrowers to purchase a property while also financing the cost of rehabilitation.
    Don't over-improve.

    Consider how adjacent houses have been finished. If most have lower-end finishings, it's probably not best to spend your money on granite countertops, copper bathroom fixtures, and marble floors. Your fixer-upper should be in line with — or just slightly above — the standards of homes in your neighborhood.

    Purchasing a home is probably one of the biggest decisions you'll ever make. And while it may seem overwhelming, a fixer-upper can be a great way to get good value for your money. Do your homework, talk to professionals you trust, and make a smart, informed decision.

Article submitted by Brennan Purdy of State Farm Insurance

My vision is to be an insurance professional whose actions are driven by keeping the customer's best interest as my primary goal. My staff will treat all my customers in a caring, friendly, and professional manner. My office will provide warm, efficient, and seamless services to our customers at all times. I expect my business to be comprised of knowledgeable, multiple-line customers who see my office as their first and best choice for all their insurance and financial service needs

For more information on these and other home safety tips, stop by my office or visit www.brennanpurdy.com. My office is conveniently located in downtown Bethel. 203-798-7300.                   211 Greenwood Avenue , Bethel, CT 06801

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1,349,900. See the virtual tour HERE

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:

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

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