Connecticut Financing Update and Today's Mortgage Rates 12/13/13

Rates are back on the steady upward climb.  Stocks dipped on Thursday as retail sales rose solidly in November, adding to signs the economy is strong enough for the Federal Reserve to begin reducing the pace of monetary stimulus.  The 10 year treasury is at 2.88%.  In recent months rates have been going higher and higher since early May.  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          4.75%       APR 4.807%

Conventional 15 year fixed          3.875%     APR 3.969%

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

"When You Deserve the Best, You Deserve Judy"

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

 The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see 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

December 9, 2013 -The Week in National Real Estate News (Video)

This week's national real estate news update - Median square footage pricing is up, equity-and the five year rule, buyers- make sure you can afford that home, lower inventory equals higher prices.  Click here for more- about moving, home buying strategies and interest rates.

Click here for this 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

Fairfield County CT Landlords- Don't Make These Mistakes

Owning rental property, and obtaining income by receiving monthly  rents can be quite lucrative, but it can also be a disaster if it's not handled properly.

Perform your due diligence PRIOR to offering a lease to your prospective  tenants.

Most experienced Landlords will ask for a credit check, but how many search public records? Or have someone perform that type of search? What about a sex offender check? Have you ever thought about that possibility, and how it may stigmatize your multi-family home for other prospective occupants who may perform that check? As far as I know, sex offenders are not considered a "protected class", and neither are felons.  Your initial application should aslways ask the uncomfortable question-"Have you ever been arrested, and if so, when, and why?"  

Are there any hazardous materials in the home you are about to rent out where someone can become ill as a result of living there? Even if the home has been rented with no complaints, or concerns for many years,it does not mean that the home is toxic-free.  Remember that tenants are a lot more "lit-happy"-  or more amenable to filing a lawsuit than there ever were before, with scores of hungry attorneys looking to create a large case, and award.  Try not to become case law.

One seemingly minor item? *a smoke detector*.  If it is not working, and a fire occurs, you can be in big trouble- morally, ethically, and financially. Perform periodic checks, and  write it down.

......and last but not least, do not discriminate. it is illegal to discriminate in Connecticut on the basis  of  race, color, creed, religion, national origin, ethnicity, ancestry,  sex (gender), marital status, age,  sexual orientation, learning diability, physical or mental handicap, disability, disorder or retardation, familial status and lawful source of income.

If you are in need of a Realtor to represent your best interests in leasing your property, whether it is a single family, luxury home, condominium or otherwise, please contact me.  I will work hard to ensure you get the best tenant possible for your property. Contact  me today

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see it!

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

If you have a question about buying, selling or renting 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

Residential Home Style Reference Guide

Here's a handy pictorial reference guide for the many different styles of homes.

Do you see your home's style here?

Whether you do, or even if you don't,  when it's time to sell, call me. I know the difference  between the many styles, and am highly skilled in how to market your unique home to get the very best price :)

photo courtesy of Realtor magazine

*************************************************************************************************************

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

Does Your Connecticut Home Have Any Toxic Substances?

From the air we breathe to the things we eat, it seems like a new report comes out every week warning us of the dangers that surround us. Unfortunately your house may have substances that could be harmful to your health.

While generally a problem in older homes, the presence of certain substances in a residence may require disclosure. For example, asbestos was commonly used not only in insulation for a time but also in siding, shingles, some floor tiles and pipes and some textured paints.

While the use of asbestos has been generally discontinued since the 1970s, some remains in homes constructed prior to that time. When selling a home, the owners should be aware of any such hazards and ensure they properly disclose them to prospective buyers, or else they may be liable for any problems caused by these hazards after purchase. If it comes out during the negotiation process, it may sink a promising deal if buyers come to believe they cannot trust the home sellers.

I am currently in the process of buying my first home and when our inspector checked out our attic he picked up a big handful of what looked like kitty litter. He explained it was called vermiculite and that  it could contain asbestos. Luckily we were able to work with the seller to get it removed safely but it is certainly something to be cautious of if you plan on buying an older home.

Asbestos and Lead

Asbestos should only be removed by a professional and only if necessary because the health risk increases if it is loose or crumbling. Removal may be required in some cases and optional in others.

Lead was commonly used in paints up to almost 1980, and in pipes even more recently. Like asbestos, lead can enter the body by breathing if it is loose in the form of dust. Chipped or cracking paint can be particularly hazardous, especially to children. Also like asbestos, homeowners are required to disclose the presence of any lead-based paint hazards in a home when selling it. Professionals are also required to remove it if that becomes necessary.

Mold

Mold can be a major problem in a home, leading to respiratory difficulties and allergies. Mold that grows undetected over a longer period of time can cause more serious problems. Unlike many other problems, mold can often be removed using everyday household cleaning supplies. Unfortunately, it may become too thoroughly embedded in porous carpets or other objects. In a worst case, it can get into the walls or ceilings and require professional help or a major project to remove it.

Radon

According to cancer.org, Radon is a colorless, odorless, radioactive gas. Radon is a problem in some homes, particularly in the northern U.S. While a test for radon is not necessarily required by law, the results of any test the home seller chooses to make must be disclosed. The source notes that some radon problems are complex and expensive to deal with but others are relatively easy and cheap to solve.

Author Lindsay Listanski  Coldwell Banker Blue Matter

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

The Featured Home of the Week is a 3 bedroom, 2 bath ranch home at 20 Hickory Drive, Westport  for just $549,900. See the virtual tour HERE 

 .....or better yet, call Judy to schedule an appointment to see 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