As I see friends, neighbors and family this holiday season the question that is always asked is, “You must be enjoying some time off now that the holidays are here.” Nothing could be further from the truth. I am busier now than I have been all year.
We started 2019 with the worst first quarter that I have ever experienced. The second and third quarters were normal compared to historic levels and this fourth quarter is blowing the roof off. Continue Reading
IT’S NOT TO LATE!!
So you have finally gotten that last home fixup to get your home ready for the market but it is October. Do you wait for the “Spring” Market? My simple response is absolutely not. The fourth quarter is absolutely the best time to sell your home!
1- Inventory is at its lowest so Buyers have fewer choices. I often “PUSH” the price point at this time of year because of this. Homes sell faster now for the same reason.
2- We still have a good number of frustrated Buyers who have not yet found their new home. Especially in 2019, inventory levels have been at historically low levels. The number of available homes for sale in the Greater Danbury Area has been DOWN 40% compared to 2 years ago. The number of sales, however, has remained about the same.Continue Reading
PREPARE NOW FOR THE SPRING MARKET!!
One of the biggest mistakes that a potential Home Seller makes is calling a Realtor when they “think” they are ready to put their home on the market. Actually the best time to call your Realtor is at least 6 months before your list date. Starting the beginning of August I begin to get calls from Homeowners who want to sell their homes next spring. These are the smart Sellers and eventually the ones who will get the highest prices for their homes.
There is a “buzz” among Realtors that it is no longer location or amenities that drive price, but condition. The current Homebuyers, the Millennials, do not want to lift a finger when they move in. Gone are the days when the past generation were fine with changing carpets, painting and remodeling to make the house feel like their own. This crop of Buyers does not want to invest the time, which is their greatest perceived asset. Personally, I remember buying my first home locally in 1981 without a working boiler and black and orange flocked butterfly wallpaper in the kitchen.Continue Reading
Do You Have the Multiple Offer Blues??
In certain price ranges we are seeing a significant lack of inventory. The Buyers, however, are out in record numbers. The positive economic news, low unemployment and low interest rates have set the stage for many of the reluctant Millennials to begin their house hunt in earnest. If you are currently looking to buy a home you may have already experienced losing a potential home to a multiple offer situation. There are some strategies that will position you to win instead of continually coming up short.
The first step is to get pre approved by a local lender. A Listing Agent will take a pre approval much more seriously if it is from a lender or loan officer who they know. Get approved ahead of time for the maximum for which you qualify. As a Listing Agent, I recently had an offer accepted at $520,000 with a Buyer who had a pre approval to $625,000. It did not tell me that the Buyers wanted to pay that much..the house was only listed for $535,000…but it told me they were more than qualified rather than stretching. If at all possible the pre approval should specify that the mortgage is not contingent on the sale or successful closing of another home. In a multiple offer situation it may not be good enough to have a solid contract on your existing home.Continue Reading
When Renting Is the Best Option
When faced with a rent vs. buy option, Realtors will always encourage you to buy. In almost every case this is sound advice. After all, homeowners amass 42 times the net worth of renters over a lifetime. Homeowners can take advantage of the tax benefit of deducting mortgage interest. Homeowners can take up to $500,000 (per couple) of tax free capital gains on the sale of a primary residence every 2 years. It is also forced savings as you pay down principal and of course appreciation on the residence.
There are times, however, when renting is the right, interim decision.
1- WHEN YOU ARE DOWNSIZING. My feeling is that Baby Boomers are not downsizing because they don’t know if they really want to retire and have no idea of what that next housing option looks like or where. Step one, sell the house. Rent while you figure out the next move so that you can be flexible and take advantage of or try out options.Continue Reading
Have Your Septic Systems Inspected
Good septic systems will last 50 years or longer. The longevity of a system will be determined by the quality of the soil, the maintenance of the system and its usage. Whenever I am getting ready to list a home over 20 years old I insist that the homeowner get a complete inspection. This is not the same as having the tank pumped out or even the inspection by the town where the sanitarian walks the property every four to five years to make sure that sewage in not breaking ground. A thorough septic inspection will cost approximately $400 and is done by a septic company.Continue Reading
Where is the Market??
There is a feeling among real estate professionals, including Realtors, Attorneys and Mortgage Bankers that the home selling market has come to a stretching halt during these first 2 months of 2019. I really did a deep dive into statistical numbers and spoke with my trusted professionals to try to come to some determination on what is happening. I used a composite look at 6 towns which included New Fairfield, Danbury, Bethel, New Milford, Brookfield and Newtown. The inventory levels have fallen. In 2017 there were 1517 and 1547 homes and condos for sale in January and February. In 2018 those numbers fell dramatically to 727 and 770 which is about half of what they were the year before. This year the numbers rebounded slightly to 784 and 842 but it was the feeling that the quality of the homes was significantly lower than in previous years.Continue Reading
Leadership Attributes- What Creates Productivity?
At the most recent meeting of the Business Before Breakfast Group, the “Challenge Question” was, “What values do you admire in leadership?” This Mastermind group is sponsored by the Brookfield Chamber of Commerce and is bi weekly forum for the discussion of different business topic. It is open and free to any local business owner and is drop in.
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The LAW of intentionality
At a recent seminar given by Filson Thomas of Archegos Coaching, we learned about the Law of Intentionality. I, personally, am committed to lifelong learning and growth. My one, over reaching goal and value is to be better tomorrow than I am today. Better to me means, more skilled, more knowledgeable, a better communicator, more focused, better at relationships and ultimately happier. Filson pointed out that for many, growth stopped after graduating from school. For true success you need to continue to grow as the world and circumstances change. I love the quote, ‘You may be on the right track but if you don’t keep moving you will get run over.” To me, growth is an imperative. My calendar is color coded and if I don’t see some light green time blocks I know I am not committing to my growth goals.
I know that to INTENTIONALLY grow, I need to do it every day. I have to think like a learner, realizing that there is something to take away from everyone I meet, every situation I am in, every book I read. Intentional growth takes perseverance. It takes hard work. A couple of the benefits are that I will be ready for opportunities. I will learn BEFORE I make a mistake. Accidental growth is waiting for growth to come instead of reaching for is. Accidental growth depends on luck. I PREPARE to be lucky. Another quote..I love quotes…”The harder I work, the luckier I get.”.Continue Reading
Keeping Homeowners in Place
Finally there are some programs that will help homeowners who have experienced TEMPORARY hardships stay in their homes. After years of short sales and foreclosures someone has finally figured out that many of these situations were temporary with homeowners losing jobs and eventually finding new employment but never being able to get caught up on past due mortgage bills. I had always thought that there should be a forbearance program much like with student loans but that never came to pass. A Realtors job is NOT just to sell homes but also to help people STAY in their homes.
One such program is the BlueHub SUN program, now available in CT. This is for homes already in foreclosure. Aura Mortgage Advisors buys the home at the foreclosure price and then immediately sells it back to the original owner at the reduced amount of the foreclosure sale. This way the principal owed and the monthly payments are automatically reduced. The owner must have steady employment and demonstrate a commitment to keep current on their mortgage payments. You can call them at 855-604-HOME for information and to complete the inquiry form.Continue Reading