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Posts Tagged ‘Connecticut real estate’

• Jan 25

  Positive Signs for Connecticut Real Estate

  Do the positive forecasts for a great 2013 for the housing sector really apply to Connecticut real estate?

  Despite several recent challenges and uncertainty all predictions are for a stellar 2013 when it comes to the U.S. housing market. National statistics show housing starts surging, home builder confidence up, marketing time for homes dropping, vacancies down, rents rising and home sales, pending home sales, home prices and even home equity up.

  However, we also know that while national housing data is often a good sign of general trends, they don’t always directly reflect what is immediately going on in any given local real estate market.

  So what’s going on with Connecticut real estate now?

  New numbers show that despite some attempting to put a positive spin on the fallout from Sandy mortgage delinquencies are stacking up in the parts of Connecticut, New Jersey and New York which were hardest hit by Sandy. Many of course hope that most of these cases are temporary and government assistance, insurance payouts and lender workouts will prevent a good deal of them from ever becoming foreclosures.

  Other good news on this front is the second Sandy aid package making it through with $51 billion on its way in addition to the $9.7 billion approved on January 4^th. Of course insurance companies will still have to cough up to cover a good portion of the $80 billion in estimated losses from the super-storm too.

  Many have bashed and tried to stall this second Sandy aid package due to a huge portion of it being designated for “longer-term” projects and improvements to infrastructure. However, this is a critical part of the bill and this $33.7 billion portion of the funds will go a long way to not just protecting Connecticut real estate from future hurricanes and improving services but will help to protect the real estate market and no doubt even help to increase its value, while boosting the local economy as well.

  A new report from local Connecticut real estate agents also shows single family homes sales rising 16% in the last quarter of 2012, with pending sales up 14% year over year too. This suggests a strong uptick in the local market which should be accompanied by rising home prices as well.

  Tags: Connecticut real estate
  Posted in Home Buying, Home Selling | No Comments »

• Jan 16

  Preservationists Battle Developers over Connecticut Real Estate

  There are two pitched battles going on over Connecticut real estate right now. What do they mean for New Haven locals and real estate investors everywhere?

  Real estate investors all over the county can learn some great lessons from what’s happening in New Haven, CT right now and local homeowners and buyers should be paying attention to how it can affect them too.

  The first issue is the battle over land and architecture in the Dwight Street Historic District. Here preservationists are pushing back against new building plans and homeowners failing to keep up their homes to maintain the area’s character and zoning laws while developers seek easier rules and a streamlined building process for future projects.

  On the other hand New Haven city officials are making a $30 million pitch to the Senator to tear down old public housing and rebuild in a style similar to Quinnipiac Terrace. The desire is to provide better affordable housing which is lighter and brighter includes more ownership and a better mix of residents and drive down crime.

  Some fear this could have a negative impact on some of those families displaced during the rebuilding, though they can take their housing vouchers elsewhere. This could potentially increase local demand for affordable rentals in New Haven.

  These are all important considerations for real estate investors, not just for watching how these two battles play out but how to invest for maximum profit with minimum challenges anywhere.

  Will preservationists battle against and hold up your development plans or could you be situated in an area and niche in which local government wants to help develop and will make it easier for you?

  Tags: Connecticut real estate
  Posted in Home Buying | No Comments »

• Jan 14

  How the New Fiscal Deal Affects Connecticut Real Estate

  A new fiscal deal has been struck to avoid the worst fallout from going over the cliff but how will it affect Connecticut real estate?

  There seem to be pros and cons for everyone from the new fiscal crisis bill, though the news of a deal definitely appears to be a far better outcome than many feared.

  What many in the northeast and the real estate industry likely see as the biggest news are the hundreds of billions of dollars in new taxes for those earning $450,000 or more a year. This will certainly create a need for many real estate investors and real estate agents to revisit their tax strategies and planning to avoid feeling the pinch in their wallets.

  However, on the bright side for those in the business is that buying and investing in Connecticut real estate remains one of the best ways to find shelter from taxes, which could drive up CT home sales during 2013. Of course many will also have no better option than to invest in real estate in order to boost their investment returns and incomes as they pay out more in taxes elsewhere.

  Another boost for Connecticut real estate in 2013 is likely to come from the 1 year extension given to tax breaks for businesses acquiring new property. This makes this the year for companies to grab new digs and expand for the maximum tax benefits. This won’t just mean a lift for local commercial property but could also provide investors and CT home owners new opportunities to cash in on residential properties they are holding.

  However, perhaps one of the worst side effects of the current fiscal mayhem was the government sidelining the vote on help for hurricane Sandy victims, which leaves many still out in the cold. Perhaps it will be down to local real estate investors to do more to provide direct help…

  Tags: Connecticut real estate, fiscal
  Posted in Home Buying, Home Selling | No Comments »

• Jan 2

  How Will Connecticut Real Estate Weather the New Year?

  Connecticut has had a rough year of it in 2012, so what should we expect to see in the local real estate market in the coming months?

  Will the recent crises weigh down the Connecticut real estate market in 2013 or will the market fight back against the odds to out-perform the recent years of harder times?

  The people of Connecticut and CT homes have had a tough run of disasters, hurricanes and even rising foreclosures. Now the state faces even more severe weather and a certain amount of fallout over the fiscal crisis, whichever way it plays out.

  However, despite the recent woes of 2012, the previous housing bubble and recession the Connecticut real estate market has actually proven to be incredibly resilient. Just take a look at cities like New Haven.

  Hartford has be rebounding well, but according to the latest statistics from data compiler Trulia, the median home sales price in New Haven, CT has rocketed by 28% since last year. Sales volume may have room to rise but even the average price per square foot has jumped by almost 30%.

  This suggests that CT homes in New Haven will continue to deliver a stellar performance in the New Year. If we’ve done so well during one of the most trying years on record then whatever comes in the next 12 months should be overcome with ease.

  Home buyers and real estate investors should easily expect to see double digit growth in home prices in 2013, homes sales to increase and rising rents, especially on the coast in New Haven, Milford and Bridgeport.

  Some may choose to wait it out, until we are on top of another boom and the best gains have been seen. Others will seize on the opportunity to help rebuild CT homes and will be rewarded handsomely.

  Tags: Connecticut real estate
  Posted in Home Buying | No Comments »

• Dec 13

  Connecticut Real Estate: Rents on the Rise

  Rents are on the rise, signaling the time is ripe to buy CT homes.

  A new report from the Hartford Courant and data compiler Trulia reveals Connecticut real estate is catching rebound fever as rental rates head up.

  The latest stats for November show rents climbing 2.9% year over year in Fairfield, 3.3% in Hartford and 6.7% in New Haven, CT. This beats out the national average of 5.6% for the same period, marking a significant turn in the market.

  For renters this means facing what could be large jumps in monthly housing expenses as leases come up for renewal. At the same time rising rents are a sign of confidence among landlords and increasing demand for rentals, meaning those who aren’t happy with demands for rental increases could face a tougher time finding alternative housing in a competitive market.

  With home prices still low and mortgage interest rates still low many will find it is far cheaper to buy a home than to rent and doing so now could be one of the most profitable financial moves of their lives.

  Those who put off buying a home will find rents will continue to rise, along with home prices and rates, eating away any advantages of holding off. For those who simply can’t qualify for a mortgage loan to buy CT homes right now it’s time to create a plan to get credit and finances in shape and negotiate or extend rental agreements to lock in the best terms until they can qualify.

  While this may be frustrating for some renters, there is no denying that these figures are extremely encouraging for Connecticut real estate investors.

  Spreads are already very attractive and are only continuing to widen. It isn’t just good for buy and hold investors either. Those focused on flipping CT homes will find demand and urgency rising among income investors who recognize the opportunity to lock into appealing cap rates and yields.

  There are still a good amount of distressed properties coming onto the market in New Haven and Fairfield, CT which offer great opportunities for those ready to rehab them and get them back into rentable condition for other investors.

  Tags: Connecticut real estate, rent, rent prices
  Posted in Home Buying | No Comments »

• Nov 9

  What’s in Store for Connecticut Real Estate?

  What’s ahead for Connecticut real estate now?

  Connecticut real estate is currently a diverse market with lots of positive signs and opportunities for those buying a home or in real estate investing.

  The latest data published in the Hartford Courant shows that local home sales volume has been surging with single family home sales up 4.5% and condos up 7% as of September. However, data complier Trulia puts this number even higher for New Haven, CT with a 15.6% rise in all property sales.

  It is true that median home price statistics still aren’t reflecting the nationwide recovery and booming markets being seen elsewhere but Trulia does report a 5.3% rise in average price per square foot and it is important for home buyers and real estate investors to recognize the differences in trends in individual neighborhoods. Some are reflecting more sales in lower price brackets and distressed sales while others are seeing sellers raise asking prices by almost 20% in the last week.

  Those looking for a real bargain on their next home or good spreads for flipping houses will certainly find plenty of discounted CT homes for sale right now between foreclosures and recent storm damaged homes.

  We may see a stall in numbers during the next couple of months due to the current Connecticut real estate foreclosure moratorium put in place due to the hurricane but year-end bonuses, the end of short sale incentives in December and anticipated tax rebates ought to fuel a surge in growth and activity over the next few months.

  The recent climb in CT homes sales volume shows more confidence in the state’s real estate market and now that the uncertainty is out of the way from the election good things are ahead.

  From a real estate investor’s stand point Connecticut real estate offers more room to grow than other destination, wider spreads and less competition density. Still it is about location and honing in on the best zip codes.

  Tags: Connecticut real estate
  Posted in Home Buying | No Comments »

• Jun 28

  Buying & Selling Connecticut Real Estate this 4th of July

  Independence Day is one holiday no one should take for granted but it is also a great time for buying and selling Connecticut real estate.

  Real estate agents and real estate investors should absolutely take the Fourth of July off. In fact, everyone should.

  So buyers and sellers, expect that your inquiries may not get answered this 4^th of July but don’t be bitter about it. However, this is an excellent week to be on the lookout for open houses in Connecticut. In fact, from the weekend before, through the weekend following the holiday there are sure to be many great deals on the market.

  Those thinking about buying a home in Connecticut will find this an incredible time to shop around and find a fantastic deal, while sellers will find the occasion advantageous for capitalizing on visitors to the state who may also be interested in relocating, while residents may finally just be getting the free time to look at what’s on the market.

  Be patriotic without cheapening this holiday.

  Real estate agents and real estate investors can work on themed open house events or how about giving Americans a break and reducing fees or asking prices by $4,000 for any contracts received?

  Connecticut real estate investors and agents, as well as those all over the country from Miami to San Diego can also do something to help those struggling to find a way to celebrate. Can you sponsor a local event, help feed the homeless or provide rides for families to 4^th of July celebrations?

  Homeownership is still the American Dream and something which we should all strive for and enjoy. Don’t be robbed of it. Maybe you need to sell your Connecticut home and start afresh or maybe your credit isn’t great and you’ll have to use alternative financing options. Just don’t let others steal your dreams. Owing a home is still an incredibly worthwhile goal .

  Tags: buying a home, Connecticut real estate, selling a home
  Posted in Home Buying, Home Selling | No Comments »

• Apr 6

  5 Tips for Selling Connecticut Real Estate

  Selling Connecticut real estate? Make sure you have thought these 5 important factors through before putting out that sign…

  1. Pricing

  Perhaps the most important factor of all when trying to sell your home or any type of Connecticut real estate for that matter is setting your price. The first few your home is advertised will be the most crucial days which get it the most attention. If you are unrealistic and ask too much you may burn your best chances at finding a buyer. Now that just because your neighbor is asking X dollars for their home, it doesn’t mean they’ll get it. In many parts of the state there is a huge discrepancy between what homes are being listed for and what they are really selling for.

  2. Is it really worth Making Improvements?

  There is tons of advice online on how to improve curb appeal and stage your home in order to make it more attractive to potential buyers but make sure you carefully weigh the costs against real returns on any improvements you are considering making. Just because you redo the flooring or replace cabinets or slap on a new coat of paint it doesn’t mean your home is actually worth more.

  3. The Cost of Self-Marketing

  Many Connecticut real estate owners are being tempted to try and sell their properties by themselves to avoid real estate commissions. Unfortunately many are suckered into expensive by owner programs and can actually end up spending more and netting less than if they reached out for professional help. If going it alone is your plan at least lay out the costs carefully and be realistic about how long you may have to keep it up before your home sells.

  4. Please Flush – Photos are Important

  The quality of your photos can make all the difference in your chances and the tie it will take to sell your Connecticut real estate. Put yourself in the buyers’ shoes. You would probably go look at the best looking properties first and avoid those with no or poor pictures. Pick up a little, close the toilet seat and make sure to get the best lighting or hire a professional photographer to make your home look great and stand out.

  5. Recognize the Time Pressures

  How long can you really afford to wait to sell your slice of Connecticut real estate? More importantly how much will you be losing if it takes too long to sell? Is it smarter to sell quickly for cash?

  Tags: Connecticut real estate, selling a home, selling a home in connecticut
  Posted in Home Selling | No Comments »

• Feb 9

  Buying a Home in Connecticut: Guilford

  Guilford is a rustic town on the Long Island Sound with a secret for anyone who’s thinking of buying a house in Connecticut: this is where all the historic homes are. From the seaside cottages to the expansive groves of maple, Guilford embodies the best of New England, and if you appreciate calm streets, active community life and gorgeous surroundings, you’re going to want to stay awhile.

  First settled in 1639, Guilford started out as a small fishing colony known for its scenic beauty, exceptional town green and beautiful stone houses. Though the town has grown into a thriving New Haven suburb, it has kept a tight grip on its roots. Today Guilford is home to a bevy of gorgeous historic buildings, including the Henry Whitfield House – the oldest stone house in America – and the largest town green in New England. Each summer, visitors from all across the country flock to the town to take in its magnificent landscape and sunny beaches, and every fall they come back to see the most stunning display of fall foliage on the Atlantic coast.

  Guilford is much more than a pretty picture, though. Thanks to the town’s proximity to Hartford and New Haven, Guilford’s 22,000 residents also enjoy one of the best school systems in the Constitution State, numerous retail franchises and a perpetually developing downtown. The town’s police department and fire department both received new headquarters recently, and while Guilford has preserved a stunning number of its original buildings, new upper-middle-class neighborhoods are being constructed all the time.

  A modest two-bedroom home in Guilford goes for around $275,000. That’s a little steep for Connecticut real estate, but the price levels off as you move up in size. For instance, a 4,000-square-foot, four-bedroom house sells for only $345,000. As a historic vacation community, Guilford also offers plenty of options for homeowners who enjoy a more luxurious lifestyle, and it’s not uncommon to find a home with a $1 million price tag in the local listings.

  If you’re buying a house in Connecticut and want to experience the best of New England, then it’s time to give Guilford a closer look. This coastal town is the perfect place to settle down and enjoy the seaside.

  Tags: buying a house, buying a house in Connecticut, Connecticut real estate
  Posted in Home Buying | No Comments »

• Feb 2

  Buying a Home in Connecticut: Trumbull

  Head north out of Manhattan for about 60 miles and you’ll come to a little Connecticut town called Trumbull. It’s not the biggest town in the Constitution State, or the wealthiest, or the quietest, but it’s a lovely place to settle down and raise children. In fact, all the things that Trumbull isn’t explain why so many New Yorkers end up buying a house in Connecticut, and in this particular town.

  Full of regal maple trees and rows of colonial, red-brick buildings, Trumbull is a haven for anyone who wants to escape the hustle and bustle of the big city. Its parks are enchanting, its streets are inviting and the air is amazingly free of the pretense that you normally find in New York’s bedroom communities. Maybe that’s why it was named the 7th best place for families by Family Circle and the 15th best place to retire by Money magazine.

  The town’s 36,000 residents love Trumbull for the way it epitomizes community life in America, from the bicentennial fountain in the town square to high school football in the fall. And they’re good at it too, this community life thing. Trumbull isn’t the only town that has a nature conservatory and a school marching band, but Trumbull’s nature conservatory has been nationally recognized and its school marching band has been voted the best in Connecticut for the last 10 years. Even the apple pie from Trumbull’s weekly farmers market tastes better than in other towns, they say.

  As both a contemporary family town and a popular summer retreat for wealthy New Yorkers, Trumbull covers the spread when it comes to Connecticut real estate. You can find a reasonably large four-bedroom home in Trumbull for about $250,000 – and a very unreasonably large one for around $600,000. It all depends on whether you want to be closer to the high-tech recreation center or the soft, rolling plains of Fairfield County.

  If you’re buying a house in Connecticut, you can’t do any better than Trumbull. It does small-town America better than most Connecticut towns, and the way things are going, it looks like Trumbull will hang onto the title for quite a while.

  
  

  Tags: buying a home, buying a house in Connecticut, Connecticut real estate
  Posted in Home Buying | No Comments »