New London County Calendar Event
Date: 01 September 2007
Event: A Taste of Culture
Time: Noon-5 p.m.
Location: Waterfront Park, New London
Description:
Celebration of cultures with music, art, food, and dance
Additional information, please visit the event web site: www.tasteofculture.org
or Call 860- 857-1269.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut...
Wednesday, August 29, 2007
Tuesday, August 28, 2007
Existing-Homes Sales Stable In July
Existing-Homes Sales Stable In July
WASHINGTON, August 27, 2007 -
Existing-home sales were essentially unchanged in July, with increases in the West and Northeast offset by a decline in the Midwest, according to the National Association of Realtors®.
Read More..
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut...
WASHINGTON, August 27, 2007 -
Existing-home sales were essentially unchanged in July, with increases in the West and Northeast offset by a decline in the Midwest, according to the National Association of Realtors®.
Read More..
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
Wednesday, August 22, 2007
Mortgage Crisis: What Went Wrong?
Daily Real Estate News August 22, 2007
Mortgage Crisis: What Went Wrong?
Nearly 2 million mortgages are scheduled for rate increases this fall and that’s expected to send foreclosures soaring.President Bush has blamed the failure of borrowers to read the fine print. But many experts say the problem runs much deeper. The mortgage business has long been a tug of war between a social commitment to broad homeownership and the efforts of private financial operators to earn money.Robert Kuttner, co-editor of The American Prospect and a senior fellow at Demos, a New York-based think tank, says the government should resume directly subsidizing starter mortgages and construction of homes for moderate-income buyers. He says these programs need to combine careful credit assessment with counseling, rather than relying totally on the private mortgage industry. He says he also would prevent irresponsible, speculative lenders from selling mortgages in the secondary market.“We've now had an experiment in the claims made for mortgage deregulation, extending over three decades, and deregulation flunked," Kuttner says. "America needs to restore a system in which government supports homeownership — and makes sure that mortgage lenders serve as responsible creditors, not predators.”Source: The Associated Press, Nathan K. Martin (08/19/07)
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
Mortgage Crisis: What Went Wrong?
Nearly 2 million mortgages are scheduled for rate increases this fall and that’s expected to send foreclosures soaring.President Bush has blamed the failure of borrowers to read the fine print. But many experts say the problem runs much deeper. The mortgage business has long been a tug of war between a social commitment to broad homeownership and the efforts of private financial operators to earn money.Robert Kuttner, co-editor of The American Prospect and a senior fellow at Demos, a New York-based think tank, says the government should resume directly subsidizing starter mortgages and construction of homes for moderate-income buyers. He says these programs need to combine careful credit assessment with counseling, rather than relying totally on the private mortgage industry. He says he also would prevent irresponsible, speculative lenders from selling mortgages in the secondary market.“We've now had an experiment in the claims made for mortgage deregulation, extending over three decades, and deregulation flunked," Kuttner says. "America needs to restore a system in which government supports homeownership — and makes sure that mortgage lenders serve as responsible creditors, not predators.”Source: The Associated Press, Nathan K. Martin (08/19/07)
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
Monday, August 20, 2007
Countrywide laying off loan-origination staff
Countrywide laying off loan-origination staff: WSJ
Last Update: 11:46 PM ET Aug 19, 2007
SAN FRANCISCO -- Countrywide Financial Corp., reducing costs as part of its effort to weather a credit crunch, has begun laying off employees involved in originating loans, according to a media report Sunday.
The layoffs occurred in the company's Full Spectrum Lending unit, which handles many home mortgages in a category known as Alt-A, or mortgages between prime and subprime that often involve borrowers who don't document their income, The Wall Street Journal reported in its online edition, citing a Countrywide (CFC Countrywide Financial Corp..CFC) internal email.
The email, sent to employees Friday by a Full Spectrum senior official, discussed layoffs made that day but didn't specify the number, the Journal reported.
The company as a whole employs about 61,000 people and had a sales force of about 6,800 in Full Spectrum out of a total loan-origination sales force of about 18,000 as of June 30, the Journal reported, citing a filing with the Securities and Exchange Commission.
Less than two weeks ago, Countrywide said it was hiring more loan officers from rivals forced to close down, the Journal said, but the company now is expected to reduce sharply its lending and costs because investor anxiety over rising defaults has made it almost impossible for lenders to sell many types of loans now deemed too risky.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
Last Update: 11:46 PM ET Aug 19, 2007
SAN FRANCISCO -- Countrywide Financial Corp., reducing costs as part of its effort to weather a credit crunch, has begun laying off employees involved in originating loans, according to a media report Sunday.
The layoffs occurred in the company's Full Spectrum Lending unit, which handles many home mortgages in a category known as Alt-A, or mortgages between prime and subprime that often involve borrowers who don't document their income, The Wall Street Journal reported in its online edition, citing a Countrywide (CFC Countrywide Financial Corp..CFC) internal email.
The email, sent to employees Friday by a Full Spectrum senior official, discussed layoffs made that day but didn't specify the number, the Journal reported.
The company as a whole employs about 61,000 people and had a sales force of about 6,800 in Full Spectrum out of a total loan-origination sales force of about 18,000 as of June 30, the Journal reported, citing a filing with the Securities and Exchange Commission.
Less than two weeks ago, Countrywide said it was hiring more loan officers from rivals forced to close down, the Journal said, but the company now is expected to reduce sharply its lending and costs because investor anxiety over rising defaults has made it almost impossible for lenders to sell many types of loans now deemed too risky.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
Saturday, August 18, 2007
The top reasons for selecting a real estate agent
The top reasons for selecting a real estate agent are agent help find the right home to purchase, help negotiating the terms of sale, help determining what comparable homes were selling for, help with price negotiations, help determining how much buyer can afford to speond on a home, help finding and arranging financing and help finding renters for the buyer's property. (Source: 2006 National Association of REALTORS® Profile of Home Buyers and Sellers.)
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
Mediterranean Masterpiece! Entertainer's Dream
Mediterranean Masterpiece!  Mediterranean Masterpiece! Entertainer's Dream! Fab home with ALL of the Details and more! MARBLE floors throughout! Top of the line everything plus a Salt Water Pool, 3 season gardens, Summer kitchen, Ideal In-law, Perfect get-a-way, 15 Min. Casino's! Photo Gallery        Information Pricing Asking Price: $1,600,000.00Flexibility: Negotiable Property Location 23 Twin Lakes Waterford, CT 06385 Links Features Bedrooms: 4 Bathrooms: 3 Full / 2 Half Year Built: 2004 Lot Size: Acreage: 0.52 Garage Size: 2 Car Square Footage: 5,001 Agent Name: Richard Thewissen Broker: William Pitt Sotheby's International Realty MLS #: M9104527 Attributes Interior Amenities Fireplace Security System Granite Countertops Exterior Amenities Patio Inground Pool
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Wednesday, August 15, 2007
NAR Supports New Regulations To Combat Unfair and Deceptive Lending Practices
NAR Supports New Regulations To Combat Unfair and Deceptive Lending Practices
WASHINGTON, August 15, 2007 - The financial markets are struggling with the results of abusive lending practices in the subprime market, including the collapse of several investment funds and the failure of more than 100 subprime lenders, noted the National Association of Realtors® in a letter to the Federal Reserve System Board of Governors.
NAR urged the Board, based on the authority given to it by the Home Ownership and Equity Protection Act of 1994 (HOEPA), to adopt regulations that combat unfair, deceptive and abusive mortgage lending acts and practices. “A rule has the potential to reassure investors and borrowers and could help mitigate overreactions that could deny mortgage loans to families who are willing and able to meet their obligations,” said NAR President Pat V. Combs, vice president of Coldwell Banker-AJS-Schmidt in Grand Rapids, Mich.
Earlier this year, NAR released its enhanced Responsible Lending Principles and has consistently encouraged federal banking agencies and their state counterparts to address abusive practices. “The Fed must act responsibly to protect consumers, and NAR pledges its support,” Combs said. “We champion the principle that all mortgage originators should act in ‘good faith and with fair dealings’ in all transactions, just as Realtors® are required by NAR’s Code of Ethics to treat all parties in the transaction honestly.”
NAR asked the Fed to eliminate prepayment penalties for all categories of mortgages, and if that is not feasible, to bar prepayment penalties for subprime mortgages and other mortgages where abuses are found. “Borrowers and their families are often trapped in abusive loans when they can’t afford to refinance because of high prepayment penalties.
Too often they do not understand that a loan with a prepayment penalty, which is supposedly saving them money, may actually turn around and haunt them when they try to refinance,” said Combs.
NAR urged the Board to require that subprime lenders mandate an escrow reserve for taxes and insurance. “This again will protect borrowers from large payments they can’t afford and help insure they understand the total cost of their monthly mortgage,” Combs said.
NAR also believes that “stated income” or “low-doc” loans should only be used sparingly and carefully in cases where there are mitigating factors. NAR called on the Board to establish and implement strong underwriting standards that would require all mortgage originators, not just subprime lenders, to verify a borrower’s ability to repay the loan. “Lenders should have the flexibility to consider all relevant facts, including a borrower’s income, credit history, future income potential and other life circumstances,” said Combs.
NAR issued the following additional recommendations: adopt anti-mortgage flipping regulations that require lenders to verify that the new loan provides a significant benefit to the borrower; encourage lenders to use alternative credit histories for borrowers with little or no credit histories; require all institutional lenders to periodically report borrowers’ payment histories to at least three national credit bureaus; require lenders to offer borrowers mortgage choices with interest rates and fees that reflect the borrower’s credit risk; and, working with HUD, improve consumer mortgage disclosure under the Real Estate Settlement Procedures Act (RESPA).
“NAR believes that existing guidelines are not enough to protect consumers and is pleased that the Board has made the first step toward this rulemaking. However, we still believe that each state should retain the authority to adopt its own high standards. Fighting abusive lending is an important issue to Realtors® . We not only want to help people achieve the dream of homeownership, we want to make sure they can continue to live it,” Combs said.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of residential and commercial real estate industries.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
WASHINGTON, August 15, 2007 - The financial markets are struggling with the results of abusive lending practices in the subprime market, including the collapse of several investment funds and the failure of more than 100 subprime lenders, noted the National Association of Realtors® in a letter to the Federal Reserve System Board of Governors.
NAR urged the Board, based on the authority given to it by the Home Ownership and Equity Protection Act of 1994 (HOEPA), to adopt regulations that combat unfair, deceptive and abusive mortgage lending acts and practices. “A rule has the potential to reassure investors and borrowers and could help mitigate overreactions that could deny mortgage loans to families who are willing and able to meet their obligations,” said NAR President Pat V. Combs, vice president of Coldwell Banker-AJS-Schmidt in Grand Rapids, Mich.
Earlier this year, NAR released its enhanced Responsible Lending Principles and has consistently encouraged federal banking agencies and their state counterparts to address abusive practices. “The Fed must act responsibly to protect consumers, and NAR pledges its support,” Combs said. “We champion the principle that all mortgage originators should act in ‘good faith and with fair dealings’ in all transactions, just as Realtors® are required by NAR’s Code of Ethics to treat all parties in the transaction honestly.”
NAR asked the Fed to eliminate prepayment penalties for all categories of mortgages, and if that is not feasible, to bar prepayment penalties for subprime mortgages and other mortgages where abuses are found. “Borrowers and their families are often trapped in abusive loans when they can’t afford to refinance because of high prepayment penalties.
Too often they do not understand that a loan with a prepayment penalty, which is supposedly saving them money, may actually turn around and haunt them when they try to refinance,” said Combs.
NAR urged the Board to require that subprime lenders mandate an escrow reserve for taxes and insurance. “This again will protect borrowers from large payments they can’t afford and help insure they understand the total cost of their monthly mortgage,” Combs said.
NAR also believes that “stated income” or “low-doc” loans should only be used sparingly and carefully in cases where there are mitigating factors. NAR called on the Board to establish and implement strong underwriting standards that would require all mortgage originators, not just subprime lenders, to verify a borrower’s ability to repay the loan. “Lenders should have the flexibility to consider all relevant facts, including a borrower’s income, credit history, future income potential and other life circumstances,” said Combs.
NAR issued the following additional recommendations: adopt anti-mortgage flipping regulations that require lenders to verify that the new loan provides a significant benefit to the borrower; encourage lenders to use alternative credit histories for borrowers with little or no credit histories; require all institutional lenders to periodically report borrowers’ payment histories to at least three national credit bureaus; require lenders to offer borrowers mortgage choices with interest rates and fees that reflect the borrower’s credit risk; and, working with HUD, improve consumer mortgage disclosure under the Real Estate Settlement Procedures Act (RESPA).
“NAR believes that existing guidelines are not enough to protect consumers and is pleased that the Board has made the first step toward this rulemaking. However, we still believe that each state should retain the authority to adopt its own high standards. Fighting abusive lending is an important issue to Realtors® . We not only want to help people achieve the dream of homeownership, we want to make sure they can continue to live it,” Combs said.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of residential and commercial real estate industries.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
Tuesday, August 14, 2007
Sunday, August 12, 2007
Real Estate Term of the Day - Acceleration Clause
acceleration clause
A clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. The most common reasons for accelerating a loan are if the borrower defaults on the loan or transfers title to another individual without informing the lender.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
A clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. The most common reasons for accelerating a loan are if the borrower defaults on the loan or transfers title to another individual without informing the lender.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
New London Film Festival Auguas 12th
New London Film Festival
Date: Sunday August 12
Time:4 p.m.
Location: Garde Arts Center, 325 State St., New London;
Movie: "Into Great Silence";
Cost:$9;
Contact: (860)444-7373.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
Date: Sunday August 12
Time:4 p.m.
Location: Garde Arts Center, 325 State St., New London;
Movie: "Into Great Silence";
Cost:$9;
Contact: (860)444-7373.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
Saturday, August 11, 2007
Real Estate Term of the Day
fee simple estate
An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration. When the real estate is in a condominium project, the unit owner is the exclusive owner only of the air space within his or her portion of the building (the unit) and is an owner in common with respect to the land and other common portions of the property.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration. When the real estate is in a condominium project, the unit owner is the exclusive owner only of the air space within his or her portion of the building (the unit) and is an owner in common with respect to the land and other common portions of the property.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
Buyer Tips
Home shopping. For first-time homebuyers it's an exciting, albeit nerve-wracking, experience. If you're like others in the market for their first home, you probably have in mind exactly how your soon-to-be home will look.
But it's important not to fall into the bad decorating, dingy walls, and dirt-bare back yard equals bad-home trap. If you don't see past the hideous wallpaper, funky light fixtures, and avocado green carpeting, you may miss out on a home with great potential. And, if you're looking for a home in a seller's market where homes are being snatched up as soon as they go on the market, you'll come to realize you can't be choosy if you want to make a competitive offer.
One of the first things to do is to get pre-qualified for a loan and determine the maximum you can afford to offer for a house. Don't look at homes that are asking for more than 5 percent above your maximum, otherwise you'll be setting yourself up for disappointment if you find the perfect - but outside your budget - home.
So what to do?
The floor plan of the home is extremely important. If a floor plan isn't quite to your liking, consider rearranging it or adding on. If you're looking at an existing home and will need to remodel or expand to suit your needs, the estimated cost of renovation should play a role in how much you offer.
Also, consider the features of a home:
Walls. While walls are one of the easiest things to remedy, they also make a huge first impression. If the walls need to be painted, are covered in wallpaper, or are painted a color you find distasteful, picture them crisp and clean in the color of your choice - that's how they could look after you paint them.
Floors. Like walls, carpet or floor surfaces that are old or outdated can be easily replaced. You could even ask for a carpet allowance in your bid, especially if you're in a buyer's market.
View. Things like old, ugly -even dirty - windows and window treatments can make a view appear less desirable. Those things can be improved, so unless the only view you have is of your neighbor's clunker on the side of the house, don't get hung up on what is surely a fixable view.
Landscaping. Your best bet is a moderately landscaped yard because you can always improve landscaping without spending too much. Worst case, even if you're looking at dirt, landscaping is one of the more feasible projects to tackle. Plus you get to design it however you'd like if you're starting from scratch.
Closets and garages. You can never have too much storage space, which is why so many newer homes have three-car garages. But if you encounter a converted garage that is now a bedroom or storage room, don't give up. Converted garages can almost always go back to their original purpose without much cost or labor.
Kitchen. The most popular room in the house, many homeowners want their kitchen to be large and have modern appliances. Don't let color schemes from the '70s detract you, because there's nothing like a fresh coat (or two) of paint to make a kitchen your own. Plus, if you like the rest of the house enough to make an offer, you can give the kitchen a minor spruce-up with some new appliances, or a major overhaul complete with new countertops, cabinets, and flooring.
The exterior. If the home you're looking at doesn't have good curb appeal, try to picture it with a fresh coat of paint and spruced-up landscaping.
Pools. If you want a pool, buy a home with a pool already built in. The cost of adding a pool starts around $25,000, and paying to add one later will never yield a dollar-for-dollar return on investment. The cost of repairing a pool is less than putting one in, so if you're looking at a home with an old pool that looks like it's in bad shape, it's still a better bet than putting one in later.
When making an offer, bear in mind the things that you can't live without, as well as your budget. Also, be sure you hire a professional home inspector to inspect the house. If the home's systems are in good working order and the house has everything you want except a minor item or two, make an offer accordingly.
Most importantly, keep in mind that unless you're building your dream home from scratch, you'll probably never find the perfect home. But seeing past a previous owner's bad decorating choices to the core of the home and its potential for livability will yield you the home you've always wanted. It may take some work, but hey - it's yours.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
But it's important not to fall into the bad decorating, dingy walls, and dirt-bare back yard equals bad-home trap. If you don't see past the hideous wallpaper, funky light fixtures, and avocado green carpeting, you may miss out on a home with great potential. And, if you're looking for a home in a seller's market where homes are being snatched up as soon as they go on the market, you'll come to realize you can't be choosy if you want to make a competitive offer.
One of the first things to do is to get pre-qualified for a loan and determine the maximum you can afford to offer for a house. Don't look at homes that are asking for more than 5 percent above your maximum, otherwise you'll be setting yourself up for disappointment if you find the perfect - but outside your budget - home.
So what to do?
The floor plan of the home is extremely important. If a floor plan isn't quite to your liking, consider rearranging it or adding on. If you're looking at an existing home and will need to remodel or expand to suit your needs, the estimated cost of renovation should play a role in how much you offer.
Also, consider the features of a home:
Walls. While walls are one of the easiest things to remedy, they also make a huge first impression. If the walls need to be painted, are covered in wallpaper, or are painted a color you find distasteful, picture them crisp and clean in the color of your choice - that's how they could look after you paint them.
Floors. Like walls, carpet or floor surfaces that are old or outdated can be easily replaced. You could even ask for a carpet allowance in your bid, especially if you're in a buyer's market.
View. Things like old, ugly -even dirty - windows and window treatments can make a view appear less desirable. Those things can be improved, so unless the only view you have is of your neighbor's clunker on the side of the house, don't get hung up on what is surely a fixable view.
Landscaping. Your best bet is a moderately landscaped yard because you can always improve landscaping without spending too much. Worst case, even if you're looking at dirt, landscaping is one of the more feasible projects to tackle. Plus you get to design it however you'd like if you're starting from scratch.
Closets and garages. You can never have too much storage space, which is why so many newer homes have three-car garages. But if you encounter a converted garage that is now a bedroom or storage room, don't give up. Converted garages can almost always go back to their original purpose without much cost or labor.
Kitchen. The most popular room in the house, many homeowners want their kitchen to be large and have modern appliances. Don't let color schemes from the '70s detract you, because there's nothing like a fresh coat (or two) of paint to make a kitchen your own. Plus, if you like the rest of the house enough to make an offer, you can give the kitchen a minor spruce-up with some new appliances, or a major overhaul complete with new countertops, cabinets, and flooring.
The exterior. If the home you're looking at doesn't have good curb appeal, try to picture it with a fresh coat of paint and spruced-up landscaping.
Pools. If you want a pool, buy a home with a pool already built in. The cost of adding a pool starts around $25,000, and paying to add one later will never yield a dollar-for-dollar return on investment. The cost of repairing a pool is less than putting one in, so if you're looking at a home with an old pool that looks like it's in bad shape, it's still a better bet than putting one in later.
When making an offer, bear in mind the things that you can't live without, as well as your budget. Also, be sure you hire a professional home inspector to inspect the house. If the home's systems are in good working order and the house has everything you want except a minor item or two, make an offer accordingly.
Most importantly, keep in mind that unless you're building your dream home from scratch, you'll probably never find the perfect home. But seeing past a previous owner's bad decorating choices to the core of the home and its potential for livability will yield you the home you've always wanted. It may take some work, but hey - it's yours.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
Wednesday, August 8, 2007
Increase Homeownership Campaign in Connecticut
Increase Homeownership Campaign in Connecticut
I think that this ia a great program. Please read and tell your friends about it!
The National Association of REALTORS® (NAR) is partnering with the Eastern Connecticut Association of REALTORS® on a campaign for employers and REALTORS® to increase homeownership opportunities for workforce families throughout eastern Connecticut.
The campaign focuses on assisting employers in developing an employer-assisted housing (EAH) benefit to help their employees purchase a home. The campaign strategy promotes homeownership opportunities for workforce families by providing access to housing information, comprehensive counseling, and financial incentives.
Read More..
With a little creative thinking, anyone with a desire to own their own home can do so. just make
sure that you don't fall into thinking that you can exceed your budget. Stick to it and keep looking!
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
I think that this ia a great program. Please read and tell your friends about it!
The National Association of REALTORS® (NAR) is partnering with the Eastern Connecticut Association of REALTORS® on a campaign for employers and REALTORS® to increase homeownership opportunities for workforce families throughout eastern Connecticut.
The campaign focuses on assisting employers in developing an employer-assisted housing (EAH) benefit to help their employees purchase a home. The campaign strategy promotes homeownership opportunities for workforce families by providing access to housing information, comprehensive counseling, and financial incentives.
Read More..
With a little creative thinking, anyone with a desire to own their own home can do so. just make
sure that you don't fall into thinking that you can exceed your budget. Stick to it and keep looking!
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
50th Annual Mystic Outdoor Art Festival - Mystic Connecticut
50th Annual Mystic Outdoor Art Festival
Saturday, August 11 2007 to Sunday, August 12 200710:00 am
Email: alexa@mysticchamber.org
Phone: 860.572.5098
Website: www.mysticchamber.org
Admission: Free Admission
Meet some of America's finest artisans on the picturesque streets of Historic Downtown Mystic during New England's premier professionally juried outdoor art show! More than 250 fine artists will exhibit oils, watercolors, photography, pastels, sculpture & acrylics. Over 60 fine crafters will display their creative works. Plus, there will be exciting music performances, children's art activities and a great array of food and beverage items!
The second weekend in August is set aside every year for this exciting event.
Sauturday 10:00 am - 6:00 pm
Sunday 10:00 am - 5:00 pm
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
Saturday, August 11 2007 to Sunday, August 12 200710:00 am
Email: alexa@mysticchamber.org
Phone: 860.572.5098
Website: www.mysticchamber.org
Admission: Free Admission
Meet some of America's finest artisans on the picturesque streets of Historic Downtown Mystic during New England's premier professionally juried outdoor art show! More than 250 fine artists will exhibit oils, watercolors, photography, pastels, sculpture & acrylics. Over 60 fine crafters will display their creative works. Plus, there will be exciting music performances, children's art activities and a great array of food and beverage items!
The second weekend in August is set aside every year for this exciting event.
Sauturday 10:00 am - 6:00 pm
Sunday 10:00 am - 5:00 pm
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
Tuesday, August 7, 2007
10 Things to Take the Trauma Out of Homebuying
10 Things to Take the Trauma Out of Homebuying
1. Find a real estate agent that’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut.
1. Find a real estate agent that’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London County area, visit the following web site:
Monday, August 6, 2007
Realtor® Survey Reveals Increased Demand For MLS Consolidation
Realtor® Survey Reveals Increased Demand For MLS Consolidation
WASHINGTON, August 02, 2007 -
Data sharing, security and consolidation of multiple listing services are top concerns for Realtors® and MLS executives, according to the 2007 REALTOR® MLS Technology Survey. The survey describes MLS trends and technology practices and was released today by the National Association of Realtors® Center for REALTOR® Technology.
The fifth annual survey showed strong interest in expanding MLS service territories, with nearly one-third of respondents favoring a statewide MLS, up from 19 percent last year. Twenty-seven percent said that a market area or metro statistical area would be ideal, while 21 percent preferred a larger market region within the state.
MLS service regions commonly expand through consolidations, which the survey also shows are on the rise. Thirty percent of those surveyed said their MLS has already consolidated with one or more MLS, up from 15 percent last year, and another 38 percent are considering consolidation.
WASHINGTON, August 02, 2007 -
Data sharing, security and consolidation of multiple listing services are top concerns for Realtors® and MLS executives, according to the 2007 REALTOR® MLS Technology Survey. The survey describes MLS trends and technology practices and was released today by the National Association of Realtors® Center for REALTOR® Technology.
The fifth annual survey showed strong interest in expanding MLS service territories, with nearly one-third of respondents favoring a statewide MLS, up from 19 percent last year. Twenty-seven percent said that a market area or metro statistical area would be ideal, while 21 percent preferred a larger market region within the state.
MLS service regions commonly expand through consolidations, which the survey also shows are on the rise. Thirty percent of those surveyed said their MLS has already consolidated with one or more MLS, up from 15 percent last year, and another 38 percent are considering consolidation.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London county area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
Saturday, August 4, 2007
Why Use A Realtor®
Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.
Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer¿s representatives.
REALTORS® Are Experts
The home price for sellers who use an agent is 16 percent higher than for those who don¿t, according to NAR's 2005 Profile of Home Buyers and Sellers, and nine out of 10 home buyers use a real estate agent in the search process.
Why Use a REALTOR®? Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Here are 12 ways a REALTOR® will make your home buying or selling experience better.
REALTORS® Are Part of the Community
REALTORS® Work to End Housing Discrimination - during April, which is Fair Housing Month, and all year long. REALTORS® are active members of their communities.
REALTORS® Protect You
Only REALTORS® follow a Code of Ethics To be a member of NAR and a REALTOR®, a real estate agent must abide by a set of professional principles and serve clients fairly.
Learn how the Code of Ethics affects everyday real estate practices >
Specialty Mortgages: What Are the Risks and Advantages? A growing number of home buyers are deciding to use one of several new types of specialty mortgages that let them ¿stretch¿ their income so they can qualify for a larger loan. Before you decide whether a specialty mortgage is for you, read this brochure.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London county area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer¿s representatives.
REALTORS® Are Experts
The home price for sellers who use an agent is 16 percent higher than for those who don¿t, according to NAR's 2005 Profile of Home Buyers and Sellers, and nine out of 10 home buyers use a real estate agent in the search process.
Why Use a REALTOR®? Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Here are 12 ways a REALTOR® will make your home buying or selling experience better.
REALTORS® Are Part of the Community
REALTORS® Work to End Housing Discrimination - during April, which is Fair Housing Month, and all year long. REALTORS® are active members of their communities.
REALTORS® Protect You
Only REALTORS® follow a Code of Ethics To be a member of NAR and a REALTOR®, a real estate agent must abide by a set of professional principles and serve clients fairly.
Learn how the Code of Ethics affects everyday real estate practices >
Specialty Mortgages: What Are the Risks and Advantages? A growing number of home buyers are deciding to use one of several new types of specialty mortgages that let them ¿stretch¿ their income so they can qualify for a larger loan. Before you decide whether a specialty mortgage is for you, read this brochure.
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London county area, visit the following web site:
Friday, August 3, 2007
June Pending Home Sales Index Shows Market Improvement
June Pending Home Sales Index Shows Market Improvement
WASHINGTON, August 01, 2007 - A forward-looking indicator based on pending home sales shows the market is likely to stabilize in the months ahead, according to the National Association of Realtors®.
The Pending Home Sales Index*, based on contracts signed in June, was 5.0 percent higher from the downwardly revised May index of 97.5, but is 8.6 percent below June 2006 when it stood at 112.0. This 5.0 percent monthly gain is the largest in more than three years, since a 6.1 percent increase in March 2004.
Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. “However, it is too early to say if home sales have already passed bottom,” he said. “Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand.”
Read More...
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London county area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
WASHINGTON, August 01, 2007 - A forward-looking indicator based on pending home sales shows the market is likely to stabilize in the months ahead, according to the National Association of Realtors®.
The Pending Home Sales Index*, based on contracts signed in June, was 5.0 percent higher from the downwardly revised May index of 97.5, but is 8.6 percent below June 2006 when it stood at 112.0. This 5.0 percent monthly gain is the largest in more than three years, since a 6.1 percent increase in March 2004.
Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. “However, it is too early to say if home sales have already passed bottom,” he said. “Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand.”
Read More...
If you are thinking about relocating to Stonington, Groton, Mystic,Norwich, New London or any other town in the New London county area, visit the following web site:
You will find many useful information and it gives you the ability to search for real estate listings for the entire Connecticut
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