National Real Estate News from TheCTrealtyBlog- Week of 10/15/12 (Video)

This week's national real estate news update highlight -  improving markets across the country....  Click here for more... on buying short sales, staging your home for sale varyiing  credit reports

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1.4M. 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

Five Areas That Can Hurt Your Home's Appraisal

When you're listing your home for sale, one of the things that is very vital is the appraisal. Yet, this is an area that can be significantly positively or negatively influenced by what you do or don't do to your home before it is appraised.

Knowing which areas to pay particular attention to can help you increase your home's value. Here are five areas that can hurt your appraisal.

Unkept exterior/interior

Having a messy home from the outside in, not only can cause potential buyers to turn away from your home but it can also cause an appraiser to shave a little off your appraisal. If the exterior has lots of overgrown and unkept bushes and the house is dilapidated, this could cause the appraiser to take "as much as 3 percent off", according to CNNMoney.

Curb appeal doesn't just help entice buyers to come in and see more of your home, it can actually increase your appraisal value. Also, If neighboring homes are meticulously kept up and yours isn't, this could cause your appraisal to be even more severely downgraded. A carefully maintained yard is a sign that the home is also likely kept up.

Trendy Remodels

Remodeling can certainly add value to your home, especially if ....CLICK HERE TO READ MORE in my Monthly Newsletter

Credit: Phoebe Chongchua

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The Featured Home of the Week is a three bedroom, three bath home on 1.24 acres on  4 Highwood lane in Westport  for just  $700,000. 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

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.

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.

Connecticut Financing Update and Mortgage Rates January 13, 2012

Today's BEST-EXECUTION Rates  - Best-Execution is the "most efficient combination."  This akin to the colloquialism "most bang for your buck," in the sense that we're looking for the shortest amount of time to recapture any applicable borrowing costs.  In some cases, lenders won't only NOT be charging those costs, but can actually pay a few of the other ones as well.  Either way, we look at the difference in cost between each rate.  

Until recently, that has been clearly at 3.875% with no threat of competition from lower rates, but they are gradually getting closer and closer, constituting less of a "diminishing return" to take a look at paying more in closing costs in exchange for a lower rate.  This is why we say 3.875% is still the best candidate for a Best-Execution rate, but 3.75% is getting close--because the gap in costs between 3.875% and the next few lower rates has not only narrowed, but also become more linear.  

Today set records thanks to Europe, both in terms of the broader economic landscape and specific events today.  Threats of a French credit rating downgrade by S&P flooded the Treasury complex with demand, lower the benchmark rates against which MBS (the "Mortgage-Backed-Securities" that most closely govern mortgage rates) are measured and valued.  When Treasuries rally (move lower in yield, higher in price) significantly, MBS tend to be rallying as well, though usually not as significantly.  Still, it was enough of a rally for MBS, and consequently mortgage rates, to improve. 

Today's Mortgage Rates

30 year fixed - 3.850% + 0% cost points for rate
20 year fixed - 3.750% + 0 % points for rate
15 year fixed - 3.250% +  0% points for rate
10 year fixed - 2.875%  + 0%  points for rate
5/1 ARM - 2.375%  +0 points for rate
7/1 ARM - 2.750 %  + 0 points for rate
10/1 ARM 3.250% + 0 points for rate

FHA/VA
30 year fixed - 3.750% with +0 % points for rate
5/1 ARM - 2.750%  with + 0 points for rate
7/1 ARM - 3.25 with +  .625 % CREDIT  point for rate

Jumbo - over 576,000 (in Fairfield County, CT)   to 2,000,000
30 year fixed - 4.625  % with 0 points  for rate
15 year fixed - 4.125% with 0  points for rate
5/1 ARM - 3.375% - 0 points for rate
7/1 ARM - 3.750 % - 0 points for rate

Jennifer Buchanan,  Certified Mortgage Planning Specialist at MetLife Loans is a seasoned veteran of the Mortgage, Banking and Broker Industry and specializes in mortgage loans throughout Fairfield County, Connecticut.
   Her attention to detail is unsurpassed, and her understanding of the marketplace makes it easy to find the right loan to fit her clients specific needs .  Jennifer's local processing and closing team are also known for their exemplary service.
   Understanding that the vast majority of mortgage brokers never discuss the long or short term  financial needs or goals with their clients, she set herself apart from the rest by obtaining the coveted CMPS  designation. (Certified Mortgage Planning Specialist)
    She is a member of the National Association of Responsible Loan Officers, and her commitment to ethics, understanding of the marketplace, and business acumen have earned her the respect of her peers and clients alike.

Jennifer Buchanan
Metlife Loans
203-341-6949

Jennifer Buchanan- Your certified expert
 on mortgages offering Free Unbiased
recommendations based on your needs.

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.