Did You Buy or Sell a Home in 2011? Remember Your HUD-1 When Filing Your Taxes

When you buy or sell a home, you will receive in HUD-1 Statement in your closing documents. There are a variety of fees associated with your closing that you can write off on your income tax.

If you cannot find the statement, call the attorney who handled your closing. He/she will have that on file. It is important that you contact your accountant or professional tax preparer to take advantage of these write-offs.

Click Here for a detailed article describing your HUD-1 settlement statement


and here for possible write-offs.

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

8 Things Never To Do With an Extension Cord

Extension cords are a convenient way to bring power to electrical devices. Used without proper caution, however, they can become a fire hazard and pose a risk to your personal safety. Follow these tips to help keep your home safe:

Selecting extension cords
•    Purchase only cords that have been approved by an independent testing laboratory.
•    For outdoor projects, use only extension cords marked for outdoor use.
•    Read the instructions (if available) for information about the cord’s correct use and the amount of power it draws when running.
•    Select cords that are rated to handle the wattage of the devices with which they’ll be used. A cord’s gauge indicates its size: The smaller the number, the larger the wire and the more electrical current the cord can safely handle.
•    Also consider the length you’ll need. Longer cords can’t handle as much current as shorter cords of the same gauge.
•    Choose cords with polarized or three-prong plugs.
•    For use with larger appliances, thick, round, low-gauge extension cords are best. For smaller appliances and electronics, you can use thin or flat cords.

Using extension cords
•    Never remove an extension cord’s grounding pin in order to fit it into a two-prong outlet.
•    Avoid powering multiple appliances with one cord.
•    Never use indoor extension cords outdoors.
•    Don’t plug multiple cords together.
•    Don’t run extension cords under rugs or furniture.
•    Never tape extension cords to floors or attach them to surfaces with staples or nails.
•    Don’t bend or coil cords when they’re in use.
•    Cover unused cord receptacles with childproof covers.
•    Stop using extension cords that feel hot to the touch.

Caring for extension cords
•    Always store cords indoors.
•    Unplug extension cords when they’re not in use.
•    Throw away damaged cords.
•    Pull the plug—not the cord—when disconnecting from the outlet.

And remember that extension cords are intended as temporary wiring solutions. If you find you’re using them on a permanent basis, consider updating your home’s electrical system.

The information in this article was obtained from various sources. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. These suggestions are not a complete list of every loss control measure. The information is not intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. Nor is it intended to effect coverage under any policy. State Farm makes no guarantees of results from use of this information. We assume no liability in connection with the information nor the suggestions made.

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

 And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Selling Your Connecticut Home? All Real Estate Agents are NOT Created Equal.

A real estate  company's offerings, and the individual agent's offerings even within that company, are as different as  fingerprints or snowflakes.  Put a different real estate firm into the mix, and your representation can be as different as night and day.

Far too often, a homeowner or homebuyer will contact a real estate agent,  either by phone or by email, and just work with that agent, not realizing that every agent offers different services, and different levels of service  that may be more appealing for their particular situation. Most often, additional services, or levels of service do not come at a higher price. It's just the way the particular agent conducts his/her business.

Let's take for example, a typical  Home Seller scenario, and some of the questions one might ask. The answers will vary greatly from agent to agent. If you don't like what you hear, move on.

Q: How often will you contact me? I've heard horror stories. And, how accessible are you? How quickly do you return calls? and finally, is this your only job?

Some agents may think that once a month is sufficient to contact you, others once a week, and yet others only contact you if and when there is an offer. Better to get this question answered right away. Also, there are many agents who  supplement their income with other jobs, and may not be ready on a moments notice for buyers or issues that can come up that require immediate attention.  A return call should happen very quickly, and there are very few excuses for not doing so, period.

Q: What is your commission?

Commission is negotiable by law.  Generally speaking the "big box" companies are not as flexible with the company policy on fees, and their agents can't be either. What happens if a buyer is unrepresented? What happens if your listing agent is also the selling agent? What happens if your home sells within 14 days? Any changes to the commission? Now is the time to ask.

Q: How can I prepare to show my home? Do you help me to stage it properly? Do you give me advice on that? Is there an additional cost?

Most every home needs some degree of staging to sell it at the highest and best price with the least amount of inconvenience to you. Staging can be as quick as removing family photos, but as detailed as removing and replacing furniture, painting, and doing some redecorating.  Be wary of an agent that doesn't even mention this, or that hires an outside staging contractor for assistance, unless your home is indeed VERY special, and/or considered the creme de la creme in your town. At that point, it probably needs very little.  Vacant new construction homes however, may need a specialist.  

Q: Do you have any testimonials?

No testimonials on demand? Show that agent the door.  One line testimonials don't cut the mustard either. Look for detailed testimonials.

Q. How did you arrive at the price of my home?

Your market analysis should be so detailed and complete  that YOU should be able to see what the correct price is for your home, without the agent ever telling you what it is. Beware of the fluffy presentation with only a few comparables.

Q: How are you going to advertise my home?

There are many avenues to sell your home. A great marketing plan includes all of them. Broker to Broker,  Broker to Consumer, and then the various outlets pertaining to both, such as the major listing aggregators,  enhanced presence in multiple online websites, and let's not forget social media. Just so you know, a custom brochure for your home that is more than a photo and MLS description is NOT standrad for most agents.

Q. Will you (or one of your team members) be at the closing ?

Many agents do not attend the closing, and that is when all heck can break loose. Not having your agent there is a recipe for disaster.

Your relationship with your Realtor  is paramount to having the best experience possible. Your confidence, or lack of confidence in what your agent is or is not doing can make things very uncomfortable during  such an emotional  time as selling your home.  A bad relationship can cost you thousands of dollars, too. Ask the questions up front, and if you don't like what you hear, just move on. There is another agent who will appreciate your business much more. That's me.

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

On Connecticut Housing: Is the Foreclosure Crisis Behind Us?

This has already been going on longer than it should, but the short answer, unfortunately is NO. Surprisingly there are not that many available foreclosure properties that are even listed for sale right at this moment.  Take a look at this Alphabetical list by Towns of Upcoming Foreclosure Auctions for the entire state of Connecticut. Based upon all that anyone even having a remote clue as to how many foreclosures there are, will most certainly be surprised at how few sales are being conducted.

Considering that we already know how much of this type of inventory is going to be coming on the market in the next few years, it seems like slow torture.

Zillow contends that more than one in four American homeowners were "under water" or owed more than their homes were worth in the final quarter of 2011.

Foreclosures were stalled in 2011 due to "robo-signing" scandal, where foreclosure documents were signed without the proper review of individual cases, which prompted banks to hold back on new foreclosures. In February, five major banks struck a settlement on the scandal that covered 49 states.

Unfortunately, indicators are that the pace of foreclosures is starting to pick up again,  and may even surpass the number of actions that were begun in 2010.

RealtyTrac (foreclosure marketplace) estimated that foreclosures in January and February rose significantly in 21 states from 2011,  and jumped over 40 percent from last year in a number of major cities. Most housing experts believe this will delay any type of sustained recovery within the next two to three years.

I would tend to agree. Last year's scandal and ensuing settlement held the dogs off, but that couldn't last forever.

The market still has a long way to recovery. Sure, we will see pockets of normalcy, but until the foreclosure crisis is even nearly over, it simply can't happen. If you are nearing crisis levels on your home, or know someone who is,  be proactive now.  The market is not expected to come back soon enough to bail you out.

If you need help keeping your home, contact your attorney and/or bank or any VERIFIED state agency.

PLEASE Be careful of the multitude of scammers out there who will take your money while saying that they are trying to help you, and don't.

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

HOT New Listing Alert! Colonial in Aspetuck area of Easton for $650,000

Absolutely Priced to sell! There is nothing original left inside or out on this 1969 Farmhouse Colonial on over three acres at 125 Mile Common in  Easton.

Ten rooms, Five bedrooms, three full baths and over 2,900 square feet of living area. This home will be on the MLS  in the next 10 days, but is available to see before then exclusively with Judy.

Remodeled kitchen with Granite counters, beautiful baths, first floor nanny quarters, and a 1,350 square foot deck to enjoy the outdoors.  Contact us for your private showing at (203) 257-5892 or email Judy today!