How to Reduce Closing Costs on Your CT Home Purchase

Closing costs on your home purchase can sometimes equal as much as 4 percent of the actual purchase price, but there are a few very good ways to lessen the sting.

1. Your agent can negotiate a seller concession for non-recurring closing costs as part of your purchase agreement. Non -recurring fees are paid once, and never again, also known as one-time charges.

2. Schedule your closing for the last day of the month.  You may have heard that a lot of people close at the end of the month, but no one has ever explained why. The reason is simple- In Connecticut, as well as the throughout the country, interest is paid in arrears. That means that within your closing costs statement, your principal and interest payment will pay the interest for up to a 30-day period immediately preceding your closing date.

For example, let's say your principal and interest payment is $599.55, with a loan amount of $100,000. With interest at 6% per annum, and amortized for 30 years. If you close in October, you will make your first payment for December 1,  and you are actually paying the interest for the entire month of November.

If you are close on your home loan on October 15th, you will prepay interest from October 15th through October 31st to the lender.  Your first payment will be due on December 1. That would be about $300 in pre-paid interest charges due at closing.

If you close on your home on the 29th, however, the pre-paid fee would only be about $40. BUT close on the second day of the month, and that $40 becomes $580.

The time of year also plays a factor, and each town is different. What I mean by that  is that each town collects property taxess on a schedule, and they are NOT all the same. Some towns collect quarterly, adn some towns collect just twice a year. Depending on the town, and what month you are buying a home in that town, the amount of escrow  needed for property taxes on closing day can vary by as much as SIX months.
THAT'S A BIGGIE.

3. One other very well kept secret  (but not with my clients) is that I always tell my buyer clients to try and negotiate the Title Insurance. You get this from your attorney, and the last time I checked, attorneys made a whopping 40 PERCENT commission. Since they are already charging you for tehir services anyway, if you fuss a little but, you might be able to get them to come down on either the Title Insurance, or their fee.

Closings costs do not have to take a bite out of your wallet. Your agent, mortgage professional and attorney should all be able to show you various ways to reduce the fees.

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

A Few Tips on Keeping Those Critters Out of Your Connecticut Home

"Critters" and wildlife around your home can be charming to look at, but for your own safety and for the good of your home, keep them out of the house.

A possum, raccoon or other critter could damage your property and threaten your health and safety if it seeks shelter in your home. Add the following projects to your upcoming fall to-do list to keep local wildlife from moving in.

•    Inspect your home’s exterior for openings animals could use as entry points. These might include vents, damaged shingles, holes in siding and gaps where different building materials meet. Large holes should be permanently repaired or covered with a chew-resistant solid material or screen, such as ½-inch hardware cloth. Fill smaller gaps or cracks with caulk, mortar, expandable foam or steel wool.
•    Install hardware cloth around decks and open foundations that sit less than two feet off the ground. Dig a trench one foot deep and eight inches wide around the perimeter. Attach screening to the deck, and then bury the screen in the trench, bending it into an “L” shape at the bottom. Backfill the trench.
•    Cover your chimney with a chimney cap.
•    Top window wells with grates or plastic covers.
•    Trim tree branches that overhang rooflines.
•    Repair or replace damaged fascia or soffit boards.
•    Repair or replace damaged windows or doors.
•    Eliminate food sources. Cover compost bins and store pet food indoors. Secure trash can lids with locks or cables.
•    Keep gutters clean and remove debris piles from your lawn. Store material such as firewood off the ground; stack to minimize openings.

Before repairing or sealing possible entries, make sure an animal hasn’t already made itself at home. Inspect chimney flues and attics for clues such as droppings. Stuff holes loosely with paper or sprinkle powder outside openings, and then return after a few days of calm weather. If the paper and powder are undisturbed, make any necessary repairs. If there are signs of activity, call a professional to have the animal safely removed.

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

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

Remodeling or Renovating While Your CT Home is On The Market

Sometimes, circumstances dictate that remodeling, removation, and/or minor alterations or repairs have to occur while your home is on the market.

This can be tricky, however, depending on what kind of construction is  taking place.

First, it is important to be crystal clear in the marketing of your home while thsi is taking place, so that agents and buyers alike know and understand that work is taking place.

Big repair jobs are better with no interruptions, and sometimes its  better to withdraw your home for sale for just a short time.

On the other hand, some buyers like to see the work in progress, and actually seeing work that is taking place can create a sense of urgency for teh buyer, especially, if they would like to tweak the renovations to better suit their taste.

Small renovations and minor repairs/remodels can be considered a big plus to see throughout the process, so keep your home on the market during this time if it makes sense to you.

HINT: Remember to take before, during and after pictures.

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 Leads New England for Real Estate Growth in 2012

The RE/MAX of New England July Monthly Housing Report indicates more good news in the number of units sold and median price throughout New England.

Overall the number of units sold is up 19.7% year over year in new England. Month over Month and year over year, the median price continues to increase, with the exception of Rhode Island where pricing is still stabilizing.  The number of pending sales is up on average 33.7% over last year, with some states, like CT experiencing more than 40% growth.

"Consumers understand the opportunities in the market and with interest rates still low, also realize that it's less expensive to buy than rent" said Dan Breault, Executive Vice president, RE/MAX of New England. "In the upcoming months, I anticipate even more buyers moving of the sidelines and into the playing field.

Article and graphics courtesy of RE/MAX New England

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

Are You Smelling Your Home, or Are You Selling it?

When you have been living in your home for as long as most people do before they put it on the market,  sometimes a homes odors can go unnoticed as you just may have become acclimated to them, however minimal they may be.

And no, not all homes have odors, but the ones that do tend to languish on the market, and tend to sell for less money, as the buyer (in his/her mind) is about to purchase something of an unknown entity- that is, whether or not the odor will go away, and how long will it take?

So paying attention to the "sense" in staging goes a long Way to sell your home. In other words, improving your home's "scents" is a  key element.

The two biggest offenders are pet smells and/or smoking odors, which can permeate the carpets, walls and furniture.

No one says that you have to break the bank to get your home ready for sale. One thing that you do have to realize is that those first impressions by the buyer's senses are simply HUGE, and will have a very strong determining factor in whether or not a prospective buyer will have interest in making your home theirs. And that's the point, right?

Sometimes, it's as little as ripping out a few carpets and painting the walls to give a home a fresh look... and a fresh smell. Check out this article on effective methods of handling odors in your home.

Rely on your professional  and experienced Fairfield County Connecticut Realtor (that's me) to let you know if it makes "sense" to be addressed.

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