The CT Home Blog at thectrealtyblog.com

The RE/MAX Hot Air Balloon will be in Fairfield CT on May 28, 2012 to Benefit Habitat For Humanity!

Judy — Thu, 24 May 2012 00:22:13 +0000

RE/MAX is sending its famous hot air balloon to Fairfield, Connecticut on Memorial Day to benefit Habitat for Humanity and the First Church outreach partners. The RE/MAX Hot Air Balloon is one of the nation’s most widely recognized corporate symbols.

The balloon will be at First Church Congregational United Church of Christ located at 148 Beach Road in Fairfield, CT from approximately 8:30 AM through 11 AM on Monday, May 28, 2012.

Weather permitting, tethered rides will be available prior to the beginning of the Memorial Day Parade.

The balloon is QUITE an amazing sight, and it's going to be RIGHT in our backyard! Don't miss it!

We hope to see you there!

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

Please 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

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.

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RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as a leading real estate franchisor with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX isproud to have raised more than $120 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX.

Should You Hire an Out-of-Town Realtor to Sell Your Home?

Judy — Mon, 21 May 2012 14:46:27 +0000

So you've made the decision to sell your home. You may have interviewed a few agents, and you seem to feel that one agent stands above the rest. Only thing is, their office is not located in your town. Is it a good or bad idea to list with an agent that does not specialize in your town?

Years ago, that would have been a bad idea. I mean MANY years ago, before the internet was such a driving force in home sales.

There are many more reasons today why you should list with an agent who you truly feel will get your home sold, rather than just settle for one who is local. The talent pool is much larger with a bigger radius, and so is the buyer pool. For example, if your home is in upper Fairfield County, you may be aware that buyers come north from New York or Stamford looking for the home of their dreams. So the question becomes, "why limit yourself?"

That's not to say that all listing agents in your town are not professional, or good at what they do- they just will not have the same buyer pool as an agent from another, more expensive town- it is inevitably much larger.

The type of home you can get for a particular price in Westport, for example is unattainable in Greenwich for the same money. Two similar homes in Fairfield and Shelton will have also have a great disparity in value.

So who do you list your home with?

Let's say that you hired an agent from out of town. I have had homeowners tell me that very few, if any local agents showed the home. That doesn't mean your home has a "local boycott" because you listed with someone from another town. The local agents will show your home if they have a buyer - they work on commission. If they think their buyer will like your home, they will show it- so take that thought out of the equation. If your town is not a large one, remember the buyer pool coming to that in-town agency won't be as big, either.

There may also be local agent perception of your street, neighborhood, or lack thereof, where these agents put your home on the bottom of the list to show. I know that sounds harsh, and I am sorry for that. In some instances, that particular perception becomes reality.

On the flip side, there are certain instances where I would suggest listing with an agency based in town. They are few and far between, though. Take for example, a highly exclusive enclave in a very tight knit community. That may be a consideration. Also take, as an example, whether or not the agent you choose to work with is associated with a small in-town agency from another town. The power of name recognition cannot be stressed enough, as it widely understood that out-of-town and out-of-state buyers have a heightened level of trust in a company that they have heard of before- even if it's just a lcoal franchise.

If your home is especially unique in some way, it is important to expose it in its best light to as many potential buyers as possible, without crossing the fine line of sacrificing enhanced marketability, especially in today's market. The most important task at hand is finding an agent that knows that they should market properties effectively to the masses, and is skilled at it.

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.

THE BEST DEAL IN WESTPORT is $438,900 -AND Open 1-3:30 on 5/20/12

Judy — Sat, 19 May 2012 23:08:23 +0000

Public Open House at 12 Warnock Drive in Westport CT

on Sunday May 20, 2012 from 1-3:30 PM- JUST $438,900

Best deal in Westport BY FAR! - as cliche as it sounds, bring your checkbook. We're not kidding. This home has just been reduced for a quick sale.

$438,900

Here are the quick details:

Westport* 1,817 SF* 3 BR, 2 baths *1.03 acres

Time is 1-3:30. SEE YOU THERE!

Want more info about the house? Click here

Call us at 203-257-5892 for any questions or email us. Either way, make it there!

Connecticut Financing Update and Today's Mortgage Rates 5/18/12

Judy — Sat, 19 May 2012 13:25:19 +0000

For only the 3rd time since early February, the Conventional 30 yr Fixed Best-Execution Rate is arguably straddling 3.75% and 3.875%. Some lenders' rate sheets are structured such that 3.75% is clearly Best-Execution. More have moved down into that territory, though many remain at 3.875%.

Mortgage Rates are steady to slightly improved today following as Europe's fiscal woes continue providing downward pressure on US interest rates. The forces at work keeping rates low were joined today by "minutes" from the most recent FOMC meeting. All told, several notable lenders are offering their all-time lowest interest rates while others remain close.

Markets actually got off to a shaky start as far as rates were concerned. Had it not been for the European headlines and the FOMC Minutes, we'd likely be looking at slightly higher rates today. Mortgage-backed-securities (aka "MBS," the most direct influence on mortgage rates) and US Treasuries began the day in weaker territory until news that the European Central Bank had ceased it's normal interactions with several Greek banks, and the ECB President essentially wasn't willing to bend over backwards to make sure Greece stays in the Euro-zone.

Until and unless mortgage rates actually break into NEW all-time lows (which they are very close to doing), we'll likely keep reiterating that which has already been said:

We see two diametrically opposed forces pushing and pulling on mortgage rates here at these key levels. The European component is the obvious force pushing rates down, but less obvious is the underlying structure of the Secondary Mortgage Market providing resistance to moving lower. The latter is what has prevented rates from getting any lower now and in the past.

That said, if the economic outlook remains fairly dim and if European concerns continue to fuel that "flight-to-safety" demand for long enough, the Secondary Mortgage Market CAN slowly evolve to accommodate lower rates. It remains to be seen whether or not it will actually happen. Global economic panic is not our favorite justification for thinking rates will move predictably lower.

Investors in the secondary mortgage market have demonstrated that they tend to feel the same way, having clearly avoided a quick move down into uncharted territory with respect to the "buckets" on the secondary mortgage market. Without a more stable motivation for low interest rates, we'd expect ongoing progress in creating a market for even lower rates to continue to be slow and small.

Today's BEST-EXECUTION Rates

30-year fixed 3.875% APR-3.924% 0 points
20 year fixed-3.625% APR-3.692% 0 points
15 year fixed-3.250% APR-3.333% 0 points
10 year fixed-3.000% APR-3.123% 0 points
5/1 ARM-2.625% APR-3.091% 0 points
7/1 ARM-2.875% APR-3.127% 0 points

FHA
30 year fixed-3.750% APR-4.659% 0 points
15 year fixed-2.875% APR-3.319% 0 points

Jumbo- over $602,000 (Fairfield County)
30 year fixed-4.000% APR 4.117% 0 points
15 year fixed-3.500% APR 3.574% 0 points
5/1 ARM-3.125% APR 3.419% 0 points
7/1 ARM-3.500% APR 3.818% 0 points

Pat Leary

NMLS #99279
Atlantic Home Loans
830 Post Road East

Westport CT 06880
203-645-1037 cell
203-691-9788 ext 226
1-203-413-5647 fax

Open House Sunday May 20 on 12 Warnock Drive in Westport ONLY $438,900

Judy — Fri, 18 May 2012 00:45:29 +0000

Mark Your Calendar!

Public Open House at 12 Warnock Drive in Westport CT

on Sunday May 20, 2012 from 1-3:30 PM- JUST $438,900

- as cliche as it sounds, bring your checkbook. We're not kidding. This home has just been reduced for a quick sale.

$438,900

Here are the quick details:

Westport* 1,817 SF* 3 BR, 2 baths *1.03 acres

Time is 1-3:30. SEE YOU THERE!

Want more info about the house? Click here

Call us at 203-257-5892 for any questions or email us. Either way, make it there!

All About Hydronic Heating Systems for Your Home

Judy — Tue, 15 May 2012 23:09:25 +0000

Have you ever been to a home where there was a noticeable difference in the warmth of the floor as opposed to the home that you now live in? If you have, you may not have known it , but that particular home probably had radiant hydronic heat.

When you think of radiant heat, (that is- a heating system within the flooring), you might think of what the electric conductors that run through the flooring creating that cozy warmth, but more efficient systems exist and they are "hydronic".

Hydronic systems use a boiler to heat hot water, and a pump to circulate that hot water in flexible plastic tubing installed the floor. Hydronic systems no longer need to be installed ONLY in concrete floors- technology has come a long way. The pipes, embedded in the floor, carry heated water that conduct warmth to the surface of the floor where it transfers the heat into the room.

The single best benefit of radiant heating, is that it provides an outstanding level of comfort due to teh entire floor radiating heat upwards from the ground in an even and consistent manner.

Properly designed hydronic systems control the surface temperature and air temperature of a room to maintain optimal comfort. Hydronic heat emitters, such as radiant floors raise the average surface temperature of these rooms, and since the human body is especially responsive to radiant heat loss, this type of heat significantly enhances comfort.

Low Heat Loss:

Buildings can have significantly different rates of heat loss based on the types of heating systems installed. Buildings with hydronic heating systems have consistently shown lower heating energy use than equivalent structures with forced-air heating systems.
Hydronic systems do not affect room air pressure while operating, but changes in room air pressure occur when the blower of a forced-air heating system is operating. The increased air pressure in the room most often comes from the lack of an adequate return from the rooms back to the furnace. This condition drives heated air out through every small crack, hole, or other opening in the exterior surfaces of the room.

Cost of Installation will vary for the size of the home, and its stage of construction- whether or not the home is already built and must be retro-fitted, in building stages, or just a blueprint on paper. This type of heating system, should be considered as a long term investment, as it is costly.

Connecticut Financing Update and Today's Mortgage Rates 5/14/12

Judy — Mon, 14 May 2012 15:01:42 +0000

Mortgages rates continue to operate at their best levels since early February following Friday's weaker-than-expected Employment Situation report. There was effectively no change in most lenders' rate sheet offerings versus Friday morning's rates. Even last week, there were no dramatic movements into the Employment Report, but more of a steady march toward historical lows.

This naturally leaves the 30yr Fixed Conventional Best-Execution Rate unchanged at 3.875%.

With the Jobs Report behind us, there's less by way of big-ticket "risky events" in the near future. Economic data in the current week is limited although Treasury coupon auctions (3, 10, and 30yr maturities) will take place on Tuesday, Wednesday, and Thursday respectively. Another consideration is the market's ongoing reaction to current political events in Europe. Euro-zone surprises can indeed have an effect on domestic rates, but we continue to see rates having a hard time getting lower from current levels.

"Floating into the auctions, and any potential Eurozone news only creates more risk than reward with rates as low as they are" says Constantine Floropoulos, VP and Sr. Loan Officer at Quontic Bank. "We'll need liquidity in lower coupon MBS if we're going to see a drop in Best-Execution rates... Not an overnight process."

There's a hidden "wall" in mortgage rates created by the underlying mechanics of the MBS Market (MBS are the "mortgage-backed securities" that most directly influence rates). As Mr. Floropolous alludes to, the next coupon lower from current levels is not very active. Think of this like a bucket that folks are generally hesitant to place their water in.

In order for this relatively empty bucket to get more water, markets would have to languish at current levels, fueled by a steady stream of negative economic data. Andy Pada, VP at 1st 2nd Mortgage, notes "Waiting for a parade of economic horribles to occur is neither good for the soul nor is it a guarantee for a lower rate. Lock in your historically low interest rate, assess any available lender credit and be content with having executed your mortgage transaction at this time in history."

Long story short, it will take more time and more stability at low rates before the underpinnings of the MBS market can adapt to make room for those frontier buckets. Until then, further gains are minimal and hard-fought. For Loan Officers like Mike Owens, at HorizonFinancial, Inc, the decision is easy: "I always lock the rate. As usual I'm not a risk taker and with rates at historical lows, there is just not much incentive to float. We can float down in rate with some investors as well so that's another reason to lock."

Today's BEST-EXECUTION Rates

Pat Leary

NMLS #99279
Atlantic Home Loans
830 Post Road East

Westport CT 06880
203-645-1037 cell
203-691-9788 ext 226
1-203-413-5647 fax

Is The Real Estate Market Improving? Six Ways to Know.

Judy — Wed, 09 May 2012 13:48:24 +0000

You might remember when the real estate turned the corner to its downward spiral a few years ago. It seemed to happen overnight, but some analysts predicted it would come.

But how do you figure out when it starts to turn around?

There ARE ways to figure out when the market is about to turn the corner on a positive note, and the very first tip off is fewer For Sale signs popping up around town.

The real estate market, and pricing, has a lot to do with supply and demand. When they are out of balance, the market is askew and prices will either rise with a lower supply, or go down when the demand is low.

TOP SIX WAYS TO FORECAST AN UPSWING IN THE MARKET IN YOUR AREA:

Employment Numbers: When the job market improves, so does the real estate market.

New Businesses Arrive in Town: When that closed up shop re-opens, and others follow, it signals a recovery.

Median Prices Start to rise: No matter how you track the market, whether its by cost per square foot, average or median prices, when the number beginsto rise steadily, the market is improving.

Distressed properties disappear from the market: When you stop seeing ads mentioning short-sales, and the foreclosure market seems to dry up.

Starter Homes begin to sell faster: When these homes (that are in reasonably good condition) sell within 30-60 days, demand is on the rise. That's a reduced market time- so watch the local statistics.

Sellers upgrade their homes and "move up": During rough times, generally speaking, the only homeowners who sell a home are those who MUST SELL, due to circumstances beyond their control such as lack of affordability, a divorce, or job transfer, divorce or they can't afford to make their mortgage payment- and many of those sellers don't or can't buy another home.

A balanced market is one where it is just as good to buy a home as it is to sell one.

Another GREAT way to know whether or not the time is right to buy or sell? Contact me, and I will assess your indiviual situation and let you know if the timing is best for you.

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.

New to the Market TODAY- 5 BR, 3 Bath Home in Easton on 3 acres for $650,000

Judy — Tue, 08 May 2012 01:52:56 +0000

Just listed today. 125 Mile Common in the Aspetuck area of Easton. This completely remodeled home is priced to sell with 10 rooms, 5 bedrooms and 3 baths There is a Broker's Open House tomorrow May 8 from 10 AM- 1PM and the buying public is welcome. Hope to see you!

Click HERE for more photos and a printable brochure

If you are interested in buying a home in Easton, or selling your home in Easton, I invite you to contact me today.

Connecticut Financing Update and Today's Mortgage Rates May 4, 2012

Judy — Fri, 04 May 2012 14:55:18 +0000

Mortgage Rates Rise Modestly After Strong Manufacturing Report. Just before reaching fresh multi-month lows, Mortgages Rates rose slightly today after a stronger than expected read on the manufacturing sector. Overall, rates continue to operate at the same "best-execution" level of 3.875% and today's deterioration would instead be seen in the form of slightly higher borrowing costs (or decreased lender credit toward closing costs, depending on your scenario).

Keep in mind that "best-execution" as we calculate it, connotes the no-closing-cost rate for the best-qualified borrowers in the most ideal scenario. For many scenarios, 4.0% continues to constitute a good bang for the buck.

Whatever the case, take a look at the the rate and fee structure of adjacent rates. In other words, you may find that paying more up front for a lower rate makes more sense for you due to payment savings. Conversely, maybe you'd rather spend less out of pocket in exchange for a slightly higher payment.

Moving on to markets and movement now... Yesterday we said that we'd expect the level of market activity to pick up as the week progresses, and indeed that was the case after this morning's ISM Manufacturing report came in stronger-than-expected. Economic data has been sort of lackluster recently, and yesterday's data had markets fearing another weak report this morning. So when it surprised to the upside, stocks rallied significantly and interest rates on fixed-income investments generally rose. The MBS ("mortgage backed securities") that most directly influence mortgage rates are part of that fixed-income sector.

Yesterday's stance is actually still the best way to think about the rest of the week for now, and may continue to be, barring any dramatic surprises in data or headlines. Particularly:

Whereas we might see some small movement in either direction throughout the week, things can change abruptly on Friday with the release of The Employment Situation Report. The fact that rates have been so low and so stable is a negative risk in our view. Historically, there's been limited benefit in floating at current levels, and historically, "big news" that follows "flat markets" creates the potential for huge swings. This is not at all to say that rates couldn't or wouldn't improved if the Jobs report was very weak, simply that there's no historical precedent to them improving much beyond current levels and that the Jobs report creates the potential for volatility.

In other words, we have two ingredients. First, there's the fact that historical examples of the Jobs report coming up on Friday have been among the biggest potential market movers on any given month. There are plenty of times where this DOES NOT turn out to be the case, but if you lined up all the various pieces of scheduled data each month next to their corresponding market movements over time, The Employment Situation report would be at the top along with FOMC Announcements.

Second, there's the fact that lenders' rate sheet offerings haven't been much lower than they are currently. Now... "much lower" is subjective, of course. The few hundred dollars in closing cost difference could mean different things to different people. Additionally, certain scenarios that are on "the edge" between two different interest rates (say 4.0% and 3.875%) could actually move down in rate within the confines of the "not much" generality above. But on average, Best-Execution rates for 30yr Conventional loans have been CLOSE to edging down to 3.75, but have never done so on a widespread basis or for more than a day.

Today's BEST-EXECUTION Rates

Pat Leary is a mortgage banker with over 12 years experience as a lending specialist in Connecticut. Her passion is to guide her clients through the mortgage process. Pat takes pride on providing great customer service, through communication, trust and integrity, and strives to offer the best mortgage products and service in the industry. We're confident that you will receive the personal attention that you deserve. As a leading Mortgage Banker in Connecticut, Pat is responsible for structuring your financing with the expertise to answer any questions you may have on rates, fees and products.

Pat Leary

NMLS #99279
Atlantic Home Loans
830 Post Road East

Westport CT 06880
203-645-1037 cell
203-691-9788 ext 226
1-203-413-5647 fax