Connecticut Financing Update and Today's Mortgage Rates 1/19/2015

Interest rates hit 20 month lows! Rates look very good at these low levels and it’s time to jump into refinancing your existing mortgage or purchasing a new home with Realtor Judy Szablak’s expertise. The 10 year is at 1.82.  If you were to take a look a closer look at the interest rates then you would see that there has been an upward trend going back to May of 2013.  Anyone looking to close within the next short term period then you might be better off locking into a rate now.

Today's Mortgage Rates

Conventional 30 year fixed – 3.875% - APR 3.932%

Conventional 15 year fixed - 3.125% - APR 3.219% 

Conventional 5/1 ARM - 3.125% - APR 3.042%

Conventional 7/1 ARM - 3.25% - APR 3.415%

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

"You can call any agent to put your home on the market-

or.... Call Judy to sell it""

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

How do you Measure Square Footage of a Home?

When it comes to real estate, there's no avoiding square footage as a measure of any home's value. Realtors use it- it's in every MLS listing, and every home portal known to man. It's also used by tax assessors, appraisers, and insurance companies.

But how much is square footage worth to you as a homebuyer? Knowing the square footage can be helpful, but it shouldn't be the main tool to determine your offer price.

Square footage measurements aren't exact, nor are they taken the same way by every person. For example, many municipalities do NOT have a standard method of calculation-  especially on capes, split level style homes and raised ranches.  A real estate professional, on the other hand, may add a finished lower level, or finished attic space which would not be in the town records to  estimate square footage.

Real estate listings for single-family homes shouldn't  include square footage for covered "outdoor" spaces, including porches, verandas, balconies and porte-cocheres. Yet, in high-rise buildings, square footage quotes often include balconies.

Further, some elements such as stairways and closet spaces are also open to interpretation. If you're buying a home with a two-story foyer, is that foyer space also counted on the second floor?

Another measure that's subjective is the price per square foot, which is determined by the number of square feet divided into the price of the home. High-end homes with expensive materials such as granite countertops and finishes such as hardwood floors tend to have a much higher price per square foot than homes for sale in the average price ranges. But what if those high-end features are 20 years old, and you're comparing them to other similar homes in the area that are brand new?

In my opinion, and at least in our area of Fairfield County, the cost per square foot analysis is pretty much useless, unless you are buying/building brand new, and are comparing one new home to another.  It just does not work for resales in our area.

Hallways, landings and stairs can add hundreds of square feet to any home, but is that space really livable? An open floor plan may have smaller square footage, but be much more pleasant to live than a larger home with too much space allocated to getting from one room to another.

All this means that valuations based on square footage are and should really be subjective.
The square footage is certainly helpful  in determining what size home you  want, but you should always be open to looking in a "range" that is 10 percent below and 10 percent above your recommended size.  The layout of  homes vary greatly from one to the next, and depending on the floor plan, a smaller home for less money may be just as desirable.

 Courtesy of Blanche Evans

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 1/12/2015 (Video)

This week's national real estate news update - Consumer confidence index up nearly 20 percent, more jobs in 2015- biggest increase since 2006, and new home sales are on the rise.  Click here to see our video, with even more info- including fire safety tips for homeowners,  easing stress from your impending moveis 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

Connecticut Financing Update and Today's Mortgage Rates 1/9/2015

Big news in the FHA financing world, as within the next 30 days or so FHA is going to reduce their PMI or private mortgage insurance from 1.35% to 0.85% which means homes will be more affordable for buyers. Interest rates have dropped even further and mortgage applications are on the rise   Rates look very good at these low levels and it’s time to jump into refinancing your existing mortgage or purchasing a new home with Realtor Judy Szablak’s expertise.  The 10 year is at 2.03.  If you were to take a look a closer look at the interest rates then you would see that there has been an upward trend going back to May of 2013.  Anyone looking to close within the next short term period then you might be better off locking into a rate now.

Today's Mortgage Rates

Conventional 30 year fixed – 3.99% - APR 4.056%

Conventional 15 year fixed - 3.375% - APR 3.469%

Conventional 5/1 ARM - 3.125% - APR 3.042%

Conventional 7/1 ARM - 3.375% - APR 3.54%

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

"You can call any agent to put your home on the market-

or.... Call Judy to sell it""

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

You Can Now Find us on Instagram! .. real_estate_with_judy

We are excited to announce that we are now on Instagram! Find us at
http://instagram.com/real_estate_with_judy/

We promise lots of neat real estate photos while we are out on the road, design ideas, and sneak peeks at the market. It's a new account, and we would love to connect with you, so come join us and help us grow!

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Buying or Selling a Home in Fairfield County?  Contact us!

If you have a question about 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