Stately Colonial in Easton CT at 125 Norton Rd. is New to the Market for $1.4m

This elegant and stately Colonial is on a private 3.00 acre lot in Easton, and will be on the MLS as of July 9, 2012.

A few outstanding features: The grand entry foyer has dual staircases and balcony, custom built gourmet kitchen with top of the line appliances, and a luxurious master suite.

Over 5,900 square feet on two levels includes 12 rooms, 4-5 bedrooms, and 4 full and 2 half baths. 125 Norton Road is Listed at $1,400,000.

Stay tuned for more details and pictures, but feel free to contact us today for your private showing and/or additional information.

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Buying or Selling a Home in Fairfield County? We'd love to represent you.

Feel free to email us here or visit our main  site at

www.CThomesAndRealEstate.com

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

Swimming Safety Tips for You and Your Family in the Backyard Pool

There is nothing like a quick dip in the pool on a hot summer’s day, but please be mindful of safety precautions, so  that perfect  summer day doesn't turn into a horrible nightmare.

We have compiled a few tips to help you stay safe during the summer. Yes, it's hot, and we all want some relief from the sweltering sun, and  but pool season doesn’t come without potential risks. In fact, approximately 4,200 people go to the emergency room every year due to pool or spa-related injuries.

AT HOME POOL SAFETY

    If you have a pool at home, install a fence, if you don't already have one. The fence should be at least four feet high, althought five heet is optimum. Make sure there is a self-closing, self-latching gate that has a locking mechanism beyond a child’s reach.
    Cut overhanging tree limbs and remove chairs or ladders from the pool area to prevent children from climbing over the fence that surrounds the pool.
    Keep grates and drain covers in good repair and secured in place. Alert your family and guests to stay away from these devices, as the suction from drain outlets can be strong enough to cause entrapment of hair or body parts, which can potentially cause a person to drown.
    Children are not developmentally ready for swim lessons until after their fourth birthday. Swim programs for children under the age of 4 should not be seen as a way to decrease the risk of drowning.
    Make sure you know infant and child CPR if you own a pool.
    Keep rescue equipment (a shepherd's hook - a long pole with a hook on the end - and life preserver) and a telephone near the pool.

SWIMMING SAFETY

     Supervision is a must. Follow the 10/20 rule when you’re at the pool. The 10/20 rule states the supervising adult needs to position themselves to be able to scan the pool every 10 seconds, and reach the water within 20 seconds.
    Never leave children alone in or near the pool, even for a moment.
    Always have rescue devices, such as UL-LISTED life preservers, nearby.
    Flotation devices, toys and inflatable swimming aids are not safety devices. They are toys and can easily puncture and deflate.
    Always drain wading pools after children are done playing. Infants can drown in just a few inches of water.
    Have a telephone nearby and appropriate emergency numbers posted.
      Don't swallow pool water. In fact, try to avoid getting any pool water in your mouth
    Remove all toys when you leave the pool. Toys may attract children to the unattended pool.

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Buying or Selling a Home in Fairfield County? We'd love to represent you.

Feel free to email us here or visit our main  site at

www.CThomesAndRealEstate.com

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

Obamacare, Taxes and Real Estate FAQ's from Realtor . org

There are a multitude of rumors flying about the  Health Insurance Reform , and false information is spreading like wildfire when it comes to seling your home and what effect this bill will ultimately have on your wallet. Snopes even has an entry on it! So, in an effort to clear up any misconceptions, I have excerpted the following FAQ's about Obamacare that could  pertain to real estate, directly from the National Association of Realtors.  Hope this clears things up a little!

Q-1: Is there a 3.8% real estate “sales tax” or a transfer tax created in health care bill?

A: No. There is neither a real estate “sales tax” nor a real estate transfer tax under any federal law. The Internet has generated several viral items describing such a tax. Those Internet postings are totally false. The 2010 health care legislation did create a new 3.8% tax, but it applies only to a limited group of taxpayers.


Q-2: So who will be subject to the new tax? When is it effective?

A: The new 3.8% tax will apply to the “unearned” income of “High Income” taxpayers. The new Medicare tax on unearned income will take effect January 1, 2013. Proceeds from the tax will be allocated to shoring up the Medicare fund.


Q-3: Who is a “High Income” Taxpayer?

A: Those whose tax filing status is “single” will be subject to the new unearned income taxes if they have Adjusted Gross Income (AGI) of more than $200,000. Married couples filing a joint return with AGI of more than $250,000 will also be subject to the new tax. (The AGI threshold for married filing separate returns is $125,000.)


Q-4: Are the $200,000 and $250,000 thresholds indexed for inflation?

A: No.Thus, over time, more individuals may become subject to this tax.


Q-5: What is “unearned” net investment income?

A. Unearned income is the income that an individual derives from investing his/her capital. It includes capital gains, rents, dividends and interest income. It also comes from some investments in active businesses if the investor is not an active participant in the business. The portion of unearned income that is subject both to income tax and the new Medicare tax is the amount of income derived from these sources, reduced by any expenses associated with earning that income. (Hence the term “net” investment income.)


Q-6: So the new tax will apply to rents from investment properties that I own?

A: Maybe. Remember that net investment income includes only net rental income. Thus, gross rents would not be subject to the tax. Rather, gross rents would be reduced (as they are under the income tax) by all allowable expenses, including depreciation, cost of repairs, property taxes and interest expense associated with debt service. AGI includes net income from rent, so if your AGI is above the $200,000/$250,000 thresholds, then the rental income might be subject to the tax.

For many investment real estate owners, the net rents will be the same as or similar to the amounts reported on their Schedule E, filed with their Form 1040 Income Tax Return. (For calculations, see Q-7, below. See also Q-8 through Q-12 related to capital gain from sale of principal residence, losses on sale and to vacation homes, below.)


Q-7: Does the tax apply to the yearly appreciation of an asset?

No. Capital gains are subject to this new tax only in the year when the asset is sold. The amount of the gain will be measured in the same way that it is for income tax purposes. This rule applies to real estate and all other appreciating capital assets. Net capital gains are taxable only in the year of sale.


Q-8: How is the new 3.8% Medicare tax calculated?

A: The new 3.8% Medicare tax is assessed only when Adjusted Gross Income (AGI) is more than $200,000/$250,000. (See Q-2 above.) AGI includes net income from interest, dividends, rents and capital gains, as well as earned compensation and several additional forms of income presented on a Form 1040 Income Tax Return.

The tax is NOT imposed on the total AGI, nor is it imposed solely on the investment income. Rather, the taxable amount will depend on the operation of a formula. The taxpayer will determine the LESSER of (1) net investment income OR (2) the excess of AGI over the $200,000/$250,000 AGI thresholds. Thus, if net investment income is the smaller amount, then the 3.8% tax is applied onlyto the net investment income amount. If the excess over the thresholds is the smaller amount, then the 3.8% tax would apply only to the excess amount.


Q-9: Give me an example.

If AGI for a single individual is $275,000, then the excess over $200,000 would be $75,000 ($275,000 minus $200,000). Assume that this individual’s net investment income is $60,000. The new 3.8% tax applies to the smaller amount. In this example, $60,000 of net investment income is less than the $75,000 excess over the threshold. Thus, in this example, the 3.8% tax is applied to the $60,000.

If this single individual had AGI if $275,000 and net investment income of $90,000, then the new tax would be imposed on the smaller amount: the $75,000 of excess over $200,000.

Rules of thumb for predicting the application of this tax year to year are not readily determinable, largely because the proportion of net investment income compared to AGI will vary from year to year and from individual to individual.


Q-10: Will the $250,000/$500,000 exclusion on the sale of a principal residence continue to apply?

A: Yes. Any gain from the sale of a principal residence that is less than $250,000 (individual) or $500,000 (joint return) will continue to be excluded from the income tax. The new 3.8% tax will NOT apply to this excluded amount of the gain.


Q-11: Will the 3.8% tax apply to any part of the gain on the sale of a principal residence?

A: Maybe. The new Medicare tax would apply only to any gain realized that is more than the $250K/$500K existing primary home exclusion (known as the “taxable gain”), and only if the seller has AGI above the $200K/$250K AGI thresholds.

So, for example, if the taxable gain was $30,000 and a married couple had AGI (which would include the taxable gain) of $180,000, the 3.8% tax would not apply because AGI is less than $250,000. If that same couple had AGI of $290,000, then the application of the 3.8% tax would be subject to the same formula described above. The $30,000 taxable gain on the sale would be less than the $40,000 excess above $250,000 AGI, so the $30,000 gain would be subject to the new 3.8% tax.


Q-12: Is rent from a vacation home subject to the 3.8% tax? And what about the gain on sale of a vacation or rental property?

A: The application of the tax will depend on whether the vacation home has been rented out, the period for which it has been rented and whether the property is solely for the enjoyment of the owner. If the owner has rented the home out to others, then the 14-day rent exclusion will continue to apply. Thus, if the owner rents the property to others (including family members) for 14 or fewer days, there would be no net investment tax. (Note that no deductions for expenses would be available, as under current law.)

If the home has been rented to others (including family members) for more than 14 days, then the rents (minus related expenses) would be considered as part of net investment income and could, depending on AGI and the calculations described above, be subject to the new tax.

If the vacation home has been used solely for personal enjoyment (i.e., there is no rental income and no associated expenses), then a gain on sale would be treated as net investment income and could be subject to the tax, depending on AGI. Similarly, if the property had generated rents, any net gain on sale could also be included in net investment income. The amount of the tax (if any) would depend on the calculation formula, above in Q-8 and Q-9.


Q-13: My rental property generates a net loss each year. How will those losses be factored into the new tax? And what if I have net capital losses when I sell?

A: Net losses from rents and net capital losses reduce AGI. Thus, the losses themselves would not be subject to the tax. If, after losses, AGI still exceeds the High Income thresholds, the 3.8% tax would still apply to any net rental, interest or dividends income.


Q-14: I earn all of my income from real estate investments that I own and operate myself. Will my rents and gains be subject to the new tax?

A: No.If the ownership and operation of real estate you own is your sole occupation, then those activities are what’s called your “trade or business.” Income derived from a trade or business is not subject to the new 3.8% tax. If the owner of rental properties has a “day job,” however, real estate investments are not considered as a trade or business, but are rather considered as investments, even if they are a major source of income.

Many Realtors engage in business activities are that are the “typical” selling, leasing and brokerage endeavors usually associated with the term “Realtor.” If they also own rental real estate assets as part of their own personal investment portfolio, the net rents from that portfolio could become subject to the new 3.8% tax on net investment income, depending on AGI.


Q-15: Will “High Income Filers” lose any portion of the Mortgage Interest Deduction?

A: No. The mortgage interest deduction is unchanged. No cap was imposed on any itemized deductions.


Q-16: Why is this new tax called a “Medicare tax?”

A: The revenues generated from this tax will be allocated to the Medicare Trust Fund that is part of the Social Security System. That fund is currently on shaky financial footing. These additional revenues are intended to shore up the Medicare Trust Fund.


Q-17: How will this new tax affect marginal (the highest) tax rates when it is combined with existing law and with the possible expiration of the Bush tax cuts enacted in 2001?

A: Marginal tax rates are the tax rates assessed on the “last” dollars included in taxable income. If the Bush tax cuts are allowed to expire, then the marginal rates for upper income individuals will increase, particularly for capital gains income. The chart below reflects the impact of those changes, presented based on implementation of current law effective dates.

 Source: NATIONAL ASSOCIATION OF REALTORS®

Note: Any questions you may have regarding your personal taxes are  best  answered by an accountant.  Information contained herein not intended to take the place of a professional opinion by a tax specialist.

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Buying or Selling a Home in Fairfield County? We'd love to represent you.

Feel free to email us here or visit our main  site at

www.CThomesAndRealEstate.com

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

Connecticut Financing Update and Today's Mortgage Rates 6/29/12

Treasury prices are lower this morning after the leaders at the Eurozone summit agreed to bail out banks and ease austerity measures.  Investors take the headlines out of Europe with a grain of salt, as the $149 billion economic growth plan will only be a temporary band aid.  Today's US economic calendar caps off a busy week of activity. 

The May personal income and spending report was mostly in line with expectations as spending was flat month to month but the personal income increase of +0.2% was slightly below the expected 0.3% increase.   Consumer sentiment dropped to a six-month low in June, falling to 73.2 from 79.3 in May. Currently, the 10yr yield is at 1.660% and mortgage rates are roughly 0.125 to 0.25 worse in price from yesterday morning.

 Today's Mortgage Rates

Conventional 30 year fixed          3.625%                  APR 3.683%

Conventional 15 year fixed          2.875%                  APR 3.025%

Conventional 5/1 ARM                  2.625%                  APR 3.160%

Conventional 7/1 ARM                  2.75%                    APR 3.133%

The above rates are based on a loan amount of $417,000 for a single family home, a borrower’s middle credit score of 740 and a 20% down payment.

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)

 NMLS #110681

send Nima an email

Mobile: 203-913-6016
Fax: 877-804-5752

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Buying or Selling a Home in Fairfield County? We'd love to represent you.

Feel free to email us here or visit our main  site at

www.CThomesAndRealEstate.com

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

Buying or Selling A Home in Fairfield County with Facebook is Easy!

Our town-based Facebook Pages are THE place to go in your social media travels for all things real estate! We've improved our Facebook presence and upgraded every one of our  twenty Town-based  pages. We service home buyers and sellers in most of Southwestern Connecticut, including most of Fairfield County and parts of New Haven County. 

 Enhanced Facebook Town Pages !

Each town page already features free MLS access, local news specific to the town, a town bio, relevant real estate articles, and our blog posts, besides the latest listings. We JUST added new tabs for school and education information, the town  website,  and Judy's professional bio, if you haven't seen it already.

We invite you to stop by any one of our town pages. Just click on the little "F" next to the town (or towns) below to stay current  on the real estate market in that town, or for your favorite town related websites all in one place.....and please tell your friends - we would truly appreciate a "Like' .

When you need to buy or sell a home in any one of our towns, please give us a call, and get  "The Facebook Advantage" to work for you. 

.. in Fairfield County

   Darien
   Easton
   Fairfield
   Greenwich
  Monroe

  New Canaan
  Newtown
  Norwalk 

  Redding
  Shelton

  Southport
  Stratford
  Trumbull
  Weston
  Westport

  Wilton

and New Haven County

  Ansonia
  Derby
  Milford
  Oxford
  Seymour

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Buying or Selling a Home in Fairfield County Connecticut? We'd love to represent you.

Feel free to email us here or visit our main  site at

www.CThomesAndRealEstate.com

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