Best Buyer Tips: Open Houses are NOT the Best Way to Search For Homes

Did you know that just yesterday there were 341 open houses in ALL of Fairfield County? That's not even ten percent of the 4,292 available single family homes!

Yesterday's open houses comprised less than eight percent of all homes listed that were open to the public on Sunday..At that rate, it would take over three MONTHS to see all the houses for sale!

For your own edification, in our immediate area, yesterday's open houses included:
 
 36 open houses in Westport- out of 289 homes for sale, or just  12.45%

 11 open houses in Trumbull out of 159 homes for sale,  or just  6.9%

 27 open houses in Norwalk out of 288 homes for sale ,  or just  9.375%

 58 open houses in Fairfield  out of 426 homes for sale,  or just  13.62%

 9 open houses in Easton out of 80 homes for sale, or just  11.25%
 
So what are open houses good for? Three things.

1. Getting a feel for the market if you are just starting your search.
2. Meeting an agent that you feel would be a good fit to help you in your home search.
3. Meeting an agent to represent you in the sale of your home.

Many homes never have an open house, and one of those homes could be the perfect house for you. When you work with an agent, you won't miss out on that perfect property.

Likewise, if you are looking to meet an agent to represent you in the sale of your home, well...

...  I just happen to know someone :)

Contact me when you are ready to buy or sell your home, and check out my video resume, if you like.

Phone (203) 257-5892  or email at Judy@BestAgentsOnline.com

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The Featured Home of the Week is at 125 Norton Road in Easton  for $1,349,900. 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

Offer Agreed Upon, But Not Signed? Don't Count on that Deal Yet!

It can  sometimes be an emotional rollercoaster when you are looking for homes. Especially now, when inventory is low, and there is competition from other buyers on the house that you want.

Even if the sellers have verbally agreed to your price and terms,if they haven't signed your offer to purchase, you do NOT have an enforceable contract.

What do you think would happen if the sellers only agreed to your offer verbally, and then a much higher offer came in?  ... You're right if you think you wouldn't have a leg to stand on if the sellers chose that offer over yours.

Let's suppose  that there is more than one owner of the property- in that case, you need ALL the owners signatures for an enforceable agreement. One signature when three are needed does not consitute an enforceable contract.

The important thing to remember is that you have a valid signed agreement that is authorized properly by all parties involved.

NOTE: Spending money on any kind of building inspection before you have the correct documentation may end up being money wasted.

Bottom Line? It is most important to contact your attorney for clarification, and legal advice.

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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

Connecticut Financing Update and Today's Mortgage Rates 4/13/2013

Rates remain low with the second week of April coming to an end.  I would have to say that for the 8th week in a row I heard and read more about a real estate market that has turned into a seller's market which means more demand and less inventory.  If you are looking to close in the next few weeks then I would suggest locking in a rate with your lender and if you are looking to close in 30+ days then I would probably let your rate float to see how rates fare over this long period of time.

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.

*Note: I currently have a Spring Special $555 off coupon for your closing costs if you're looking to refinance or purchase a new home.  Contact me for more details.

 Today's Mortgage Rates

Conventional 30 year fixed          3.625%                 APR 3.678%

Conventional 15 year fixed          2.875%                 APR 2.965%

Conventional 5/1 ARM                3.25%                   APR 3.301%

Conventional 7/1 ARM                3.00%                   APR 3.051%

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

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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

The Spring Market Has Already Arrived in Fairfield County CT

The Spring Market is Here!

Real estate experts and economists agree that the real estate industry is gaining momentum.  If you were hoping to put your home on the market for the traditional Spring selling season, be advised that Spring has already sprung.  

Need proof?  Here are just a few of the latest headlines from some of the most respected news organizations:

• Home Selling Season isn't Waiting Until Spring this Year – L.A. Times, Jan. 20
• Housing Offers Hope of Strength in the Economy – New York Times, Jan. 24
• Housing Emerges as Economic Bright Spot After Years in the Dark – Washington Post, Jan. 28
• Home Prices Climb by Most in Six Years as U.S. Market Firms – Bloomberg, Jan. 29  

Essentially, low interest rates, rising rents, and a positive economic outlook are driving buyers who want to realize the dream of homeownership. With limited housing inventory, buyers are competing against one another for those properties that are priced well. The competition is resulting in bidding wars, which is driving up housing prices.  

The message is clear for sellers.  Right now is a prime opportunity to sell a home. Sellers need to ensure their property stands out from the competition with proper price positioning and home presentation.  If the home is priced right, and is in good condition, it will sell.  

Buyers shouldn’t sit on the fence either.  With a lack of inventory, competition for that perfectly priced dream home is becoming fierce.  Come prepared with solid financing, be ready to make a quick purchase decision, and be reasonable with your offer and expectations.  In some communities and price points, the buyer’s market has already tipped towards a seller’s market.  

As all real estate is local, what may be happening in some parts of the country may be different than what is taking place in Easton, Fairfield, Southport, Norwalk, Trumbull, Weston and Westport.

If you need help deciphering the market, please contact me and I will provide you with a competitive market analysis and review current market conditions with you.  I will use this information along with a review of current inventory, recent comparable sales prices and other data to advise you.  

In addition, I know which properties currently on the market will impact you, and can guide you on the optimal listing price to sell your home. If you are buying, I can help you decide an appropriate purchasing price so you can make the right offer on the right home for you.  

Changing seasons are inevitable, so take advantage of this season while it’s 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: 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 to Buy a Home in Connecticut with Confidence

Buying a house is likely the single largest investment you'll make and, like a good marriage, if it's the right one, it may last a lifetime. But how can you be confident in your home buying, especially if you're a first-time buyer?

With so many homes to choose from, how do you know if this house is the one?

Sounds like a dating question. And, coincidentally, using some of the same techniques used to determine if you're marrying the right person may also help you decide which home is the best for your needs. These days more buyers are coupling up – buying homes together (even if they're not in a relationship) to offset the cost and be able to afford more.

So, how can you be confident that the home you're buying will meet your needs? Start with some basic guidelines. Make a list ofyour must-haves, needs, and wants. These are truly three different categories. ....CLICK HERE TO READ MORE in my Monthly Newsletter

Credit: Phoebe Chongchua

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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