Owner: Real Estate in Fairfield County, CT URL:www.homeswithnestor.wordpress.com Join Date: Sun, 11 Nov 2007 05:24:11 -0600 Rating:0 Site Description: Real Estate news, comments, market reports about Real Estate in Fairfield County, Connecticut. Site statistics:Click here
How much have prices changed in Stamford (Single Family, 3 BRs, 1500-2000 SqFt) 2007-11-10 23:35:38 As you can see in the table below, Prices paid (median price) for Single Family
homes in Stamford
(3 or 4 Bedrooms, between 1,500 and 2,000 SqFt.) in October 2002 were 70.46% over the median price paid for similar homes in October 2000 ($479,000 vs. $360,500). Prices have decreased from $614,500 in October 2004 to $505,000 in October 2007, or a 17.81%.Overall, prices have increased 40% between October 2000 and October 2007 which represents a great ROI. A better performance than many stocks.In the graphs below you can see how the number of listings sold and the average number of days on market have behaved in the last 7 years. Prepared and published by Nestor N. Romero, REALTOR.
STAMFORD - Weekly Snapshot - Condominiums - Nov. 02, 2007 2007-11-04 01:39:48 This last week we had 550 units showing as either Active or Under Contract, from which, 66.18% (364) listings were Active, 22 condos as new listings (4%), 39 condos as Continue to Show (7.09%).19 Condos (3.45%) showed a reduction in price, and 84 condos (15,27%) went under contract.The average median listing price this week was $441,244.It is interesting to take a look at the different Median Listing Prices. As you can see, MLP from high to low follows this order:Condos Under Contract (Sale Pending), Active Condos, Condos (New Listings), Continue to Show Reduced Price. I would infere from these figures that new listings show some more adjusted prices. Sellers seem to be adjusting their expectations to what the market is actually expecting: They priced their properties above those properties that already have offers (CTS - Continue to Show) and below what is currently on the market.Nestor N. Romerowww.HomesByNestor.com Read more:Weekly
, Condominiums
Stamford Monthly Sales Report - October 2007 2007-11-01 00:31:27 As reported by October
31st at midnight, Selling Prices (median) for condominiums sold in Stamford
in October increased by over 22% compared to the median selling price one year ago. The total number of units came down from 123 to 90, and Single Family homes from 55 in Oct. 2006 to 35 in Oct. 2007, a 36.36% reduction in terms of units reported and at a 2.09% price reduction.Sales
in Stamford in September 2007 showed a price (median) reduction of 31.03% as compared to sales one year earlier.The highest price reduction was found in the 2-Family dwellings (11.61%). Good news is that condos and co-ops had their median selling price raised by 18.77% and 9.26% respectively in September 2007 compared to those sold in September 2006. Read more:Monthly
"This house feels nothing but hatred for anyone who wishes to call it their home" 2007-10-28 02:36:23 "... but the schools around here are very good" Click on the picture (BBC's Comedy "Man Stroke Woman") Some people are very good at selling the unsellable. I guess you need to keep your cool while showing some "special homes" ..., but I don't see myself being so enthusiastic... Have you ever sold/shown a home with a ghost?Now, there are other types of "ghosts". What about the tenant that is present, in bad mood, with a lot of stuff all over the place while the real estate agent is trying to highlight the nice features of the house, or the sellr who insists in being present at showings and tries to "sell" the house? Read more:hatred
Stamford - Weekly Snaphot - Condos and Co-Ops 2007-10-26 17:30:18 This is a weekly report that shows the current market in Stamford
for Condos and Co-Ops.Around 22% of the current 561 properties in Stamford are either CTS - Continue to Show or PEND - Under contract. 5.35% of Condos currently on the market have shown a price reduction in the last days.I will present a new snapshot next Friday. Read more:Weekly
Stamford - Single Family Homes - Current Market - Weekly Snaphot 2007-10-26 16:49:04 This is a snapshot of the current market in Stamford
(Single Family
Properties).As you can see, 203 of these properties are either CTS - Continue to Show or PEND - Under contract. This represents over 13% of the total 581 properties currently in the market.26 listings or almost 4.5% of these homes show a price reduction.I will follow up one week from now and publish a new snapshot. Read more:Weekly
, Homes
, Current
, Market
Sales Report - Condos - Sept. 2007 - Stamford 2007-10-07 17:36:29 We saw some interesting results in sales of Condominiums in Norwalk, Danbury and Stamford
:As oposed to what happened with Single Family properties in Stamford and Norwalk last month, the number of condo units sold in Sept. 2007 was lower than one year ago for these three towns. (Danbury showed the largest difference).Prices, however, were higher this year than in 2006 for condos sold in Norwalk and Stamford. Read more:Sales
Stamford Condos - Sales YTD (Last 9 months) 2007-10-07 02:32:33 Only those condos sold in Stamford
in the price range of $600,000 and $800,000 this year have been sold for more than those sold last year in the same price range and period: They reached prices 1.52% higher this year. Condos sold between $200,000 and $600,000 this year, have been sold for just under 0.5% less than last year.Take a look: Read more:Sales
Stamford - Single Family Homes - Sales Report - September 2007 vs. September 2006 2007-10-07 00:39:07 The largest price reduction between SF homes sold in Stamford
in September
2007 compared to those sold in September 2006 was observed in the price range of $600,000 - $800,000 (8.62%).Since there was only one home sold in the price range $200,000 - $400,000, it is not statistically significant to draw conclusions.On the other hand, homes sold in the price range 'Over $800,000' were sold for over 36% more this year, even though only 6 properties in that range were sold versus 13 last year. Read more:Family
, Sales
, Homes
Sales Report - Stamford between July 23 and August 23 2007-08-23 06:43:18 This is the sales report for the last month in Stamford
. It is interesting to note that the least expensive SF properties reached the biggest variance between Listing Price and Selling Price. The same happened with multi-family properties with the highest price tag.I will check again in 2 weeks and post the results and by then we will be able to draw some conclusions on what trend our local market is following. Read more:Sales
, August
Danbury Inventory as of Aug. 19 2007-08-19 23:40:48 I am including our current inventory for Danbury. You will see how active properties are distributed among different price ranges, as well as the average number of days in the market.I expect to be able to repeat the same analisys in a couple of weeks to follow up on how this inventory is changing. This will be complemented with a new table showing sales at the end of the month. Read more:Inventory
Norwalk Inventory as of Aug.19 2007-08-19 23:28:20 I am including our current inventory for Norwalk. You will see how active properties are distributed among different price ranges, as well as the average number of days in the market.I expect to be able to repeat the same analisys in a couple of weeks to follow up on how this inventory is changing. This will be complemented with a new table showing sales at the end of the month.Source: CT-MLS Read more:Inventory
Stamford Inventory as of Aug. 19 2007-08-19 23:26:38 I am including our current inventory for STAMFORD. You will see how active properties are distributed among different price ranges, as well as the average number of days in the market.I will repeat the same analisys in a couple of weeks to follow up on how this inventory is changing. This will be complemented with a new table showing sales at the end of the month. Read more:Stamford
, Inventory
Sales in Stamford Single Family Homes Jun.17 - Aug.17 2007-08-18 03:34:19 We could see some changes in Sales
of Single Family
properties in Stamford
between Jun.17 and Aug.17 this year:For homes with Selling Prices between $750,000 and $1,000.000 the average price was $866,782 in 2007 and $848,857 in 2006, or a 2.11% higher. The highest difference between the Last Listing Price (properties are showing more price adjustments today than one year ago) and the Final Selling Price was observed for those properties in the Selling Price Range between $1,000,000 and $1,250,000: 4.37%Homes
with Selling prices between $400,000 and $500,000 showed the highest difference between 2006 and 2007.These series of tables show volume of sales per price range, and the average number of days on the market.
Single Family - Norwalk Sales - Jun.13 - Aug.13 (2007 vs. 2006) 2007-08-14 00:19:45 Single Family
- Norwalk Sales
- Jun.13 - Aug.13 (2007 vs. 2006) In the last two months, selling prices of Single Family homes in Norwalk, CT with sale prices between $450,000 and $600,000 have only come down less than 1% compared to selling prices of the same period one year ago. That sub-segment also shows the lowest difference between Listing Price and Selling Price. In other words, it seems that Sellers are either reducing less their asking prices or that Listing prices were already adjusted. It interesting to notice that the Average Days on the Market (DOM) for the sub-segment between $600K and $900K was only 75 days in 2007 while in 2006 it was 91. We can also notice that the lower the selling price range, the higher Avg. Days on the Market.
And what about prices in Stamford? 2007-08-13 03:13:30 To understand the attached graphic, i will comment on some of these numbers:While in Danbury Condos in the price range of $400K to $600K were the only ones whose prices were increased, in Stamford
we can see that it was the condominiums in a lower price range ($300K - $400K) the ones who luckily saw their prices going up about 2.3% in average. At the same time, in 2006 the difference between the Listing Price and the Selling Price for condos between $300K and $400K between Jun10 and Aug10 was about 3.61% while in 2007 it was only 1.43%. This means that listing prices for that particular market segment were closer to selling prices.
Glosario 2007-08-09 01:00:06 This can be of help for your clients who feel more comfortable speaking/reading Spanish. AAgencia de asesoría de vivienda: brinda asesoramiento y asistencia a personas sobre temas variados, incluyendo cesación de pago de un préstamo, equidad de vivienda y compra de una vivienda.Agente de bienes raíces: persona que tiene licencia para negociar y arreglar ventas de bienes raíces; trabaja para un corredor de bienes raíces.Agente hipotecario: firma que emite y procesa préstamos para algunas entidades crediticias.Agrimensura catastral: diagrama de propiedades que indica límites legales, servidumbre, invasión, derechos de paso, ubicación de mejoras, etc. Alquiler con opción a compra: ayuda a los compradores con ingresos bajos o medios a comprar una vivienda permitiéndoles alquilar una vivienda con opción a compra; el pago del alquiler se compone del pago mensual de la renta más u
Your Rights when applying for a Home Loan 2007-08-09 00:15:22 Your Rights
This may be the largest and most important loan you get during your lifetime. You should be aware of certain rights before you enter into any loan agreement. You have the RIGHT to shop for the best loan for you and compare the charges of different mortgage brokers and lenders. You have the RIGHT to be informed about the total cost of your loan including the interest rate, points and other fees . You have the RIGHT to ask for a Good Faith Estimate of all loan and settlement charges before you agree to the loan and pay any fees . You have the RIGHT to know what fees are not refundable if you decide to cancel the loan agreement . You have the RIGHT to ask your mortgage broker to explain exactly what the mortgage broker will do for you . You have the RIGHT to know how much the mortgage broker is getting paid by you and the lender for your loan . You have the RIGHT to ask questions about charges and loan terms that you do not understand. You have the RIGHT to a credit decision t
Homeowners Insurance in Coastal locations 2007-08-02 14:33:41 CT is one of the states that will require insurance companies to sell discounted premiums to owners who take extra precautions to protect their homes. These discounts will depend on the state and the insurance company. Homeowners
should find out what kind of improvements can entitle them to get a reduction in their premiums by consulting with their insurance agent.Beginning next year Connecticut will require that coastal homeowners who install storm shutters or impact-resistant glass be offered reduced premiums or deductibles. One alternative for lowering out-of-pocket premiums without making improvements is to raise the amount of a deductible, and again, homeowners should get advice from their insurance agents.The Institute for Business and Home Safety presents in its website www.ibhs.org some very useful information on how to protect a home from natural disasters. Consult your Insurance Agent. Read more:Coastal
, locations
Some prices are not falling.... It all depends on the market segment... 2007-08-02 14:22:04 Before commenting on how the market is doing, I suggest watching your specific market.I chose Danbury and the period of Jun.01.07 - Jul.31.07 and compared the market to the same period one year ago.What you can see is that you can't generalize. Market behavior depends on the type of dwelling (Single Family, Multi Family, and Condo), and also on the price range..In the first graphic you will see that while Single Family homes between $200K and $300K showed a difference between Listing Price and Selling Price in 2007 (Jun and Jul) of 3.01% the difference in 2006 was 5.29%!!! One of the reasons is that prices were over-heated last year and they are more "adjusted now". So sellers are listing their homes according to the market.Another result I want to comment on is that depending on the price range, the difference between Avg. Selling Price in 2006 vs. Avg. Selling Price in 2007 varied :1.01% for Homes in the $200K - $300K price range, and 3.90% for homes between $300K and $ Read more:falling
Projected Sales Prices expected to increase next year (Already?) 2007-07-17 16:45:26 WASHINGTON - The prices of existing and new homes are expected to bounce back next year after a dreary 2007, a real estate trade group said Wednesday.The National Association of Realtors also said it expects existing-home sales to rise to nearly 6.4 million in 2008, up from the 2007 estimate of more than 6.1 million. Nearly 6.5 million existing homes were sold in 2006, the association said.As for new homes, sales are projected at 865,000 in 2007 and 878,000 next year, but the 2008 projection would still be down more than 20 percent compared with the nearly 1.1 million new homes sold in 2006.Source: Associated Press-----------------------------------------------------The main reason?The law of supply and demand. The number of new constructions fell from 1.1 million in 2006 to a projected number of 865,000 this year, so it is expected that next year the supply will be short. This will put existing homes back in the market. What do you think? Read more:Sales
, Prices
Subprime mortgages 2007-07-17 16:43:12 WASHINGTON - Fannie Mae and Freddie Mac have tightened their policies for purchasing high-priced, high-risk home loans from lenders amid stress in the housing market.The policies issued Friday by the two government-sponsored companies were in response to a directive from the federal agency that regulates the mortgage finance giants.The new policies potentially involve billions of dollars worth of so-called subprime mortgages, those targeted to people with tarnished credit or low incomes who are considered greater risks. The policies spell out to banks and other lenders which mortgages Fannie Mae and Freddie Mac will buy from them and which they will reject.Their new policies, which take effect Sept. 13, call on lenders to exercise caution in making subprime loans and to evaluate more carefully borrowers' ability to repay them.source: www.msnbc.com Read more:Subprime
PMI can be tax deductible 2007-07-17 16:40:33 Lenders mortgage insurance (LMI), also known as private mortgage insurance (PMI), is insurance payable to a lender that may be required when taking out a mortgage loan. This insurance covers the lender in case the mortgagor (home buyer) is not able to repay the loan, and the lender is not able to recover its costs after foreclosing the loan and selling the mortgaged property. The annual cost of PMI varies between 0.19% and 0.9% of the total loan value, depending on the loan term, loan type and proportion of the total home value that is financed.The LMI may be payable up front, or it may be capitalized onto the loan. This type of insurance is usually only required if the downpayment is less than 20% of the sales price or appraised value (in other words, if the loan-to-value ratio (LTV) is 80% or more). Once the principal is reduced to 80% of value, the LMI is no longer required. This can occur via the principal being paid down, via home value appreciation, or both. If a borrower has les
What made you fall in love ? 2007-07-17 16:35:56 Don't wait until you decide to sell your home to start painting and repairing... do it now that you are living and enjoying it.. do it for you and your family.. a buyer always notice when an owner has taken care of his/her home.And you, as a buyer, what made you fall in love with your new home?In a buyer's market, the seller needs to understand that the competition is tougher today than what it was in the recent past. The days when most homes, even without a coat of fresh new paint would get multiple offers are gone. Now the buyer has many options to choose from, and most of the time, either the seller needs to agree with a price reduction or he/she needs to make some investments to repair/update the house in order to competitively position it in the market.These are some ideas:Remodeling projects that add the most value include: Kitchen improvements - both major (completely re-hauled) and minor (flooring, countertops, new appliances, repainting, etc.). Bathroom remodeling or b
Proceso de Compra en Español y en palabras sencillas 2007-07-17 16:30:54 1) Obtenga una Pre-Aprobación ("Pre-Approval"). Una pre-aprobación es una carta que su "mortgage broker" o banco le deberán preparar una vez hayan investigado su crédito, nu nivel de ingreso, sus costos mensuales promedio entre otras informaciones.Según Lennox Scott, CEO de John L. Scott Real Estate, usted debe demostrar que usted tiene capacidad de asumir el préstamo y que está listo para presentar una oferta. Todo comprador tiene ya una aprobación y usted no quiere que se le adelanten. Parte del paquete de documentos que el Agente que lo represente enviará en el momento de presentar la oferta al vendedor es esa carta de pre-aprobación. Sin esa carta, su oferta no será tomada en serio.De acuerdo con Bob Moulton, corredor de Hipotecas (Mortgage broker) de Americana Mortgage, el tener su préstamo adelantado reduce el estres que acompaña el proceso de comprar una casa.El proceso Read more:sencillas
STAMFORD - Single Family Properties - Nov. 23 Snapshot 2007-11-23 23:56:00 This is the current inventory offered by Stamford. Homes in the group 'Continue to Show' are those whose sellers have already accepted offers but are consider still available. Properties
under 'Sale Pending' are those whose sellers have already accepted offers and are in the process of signing contracts. These are Single Family
Homes. This table shows that out of 531 properties, 443 homes are still available.
STAMFORD - Sales Report - November 2007: Better than last 2 years?? 2007-12-02 15:43:46 As you can see in the first chart below, representing the median selling prices in November
2007, 2006 and 2005, we found that:sales in November this year were better than last year and better than 2 years ago. in all types of properties, median selling prices this year were higher than in November2005 and November 2006.only Co-Ops did better in Nov. 2006 than in Nov. 2005. In the chart below we see the number of units sold. We saw a decrease in terms of units sold this year compared to 2006 and 2005. Less properties were sold, but those sold produced a Median Selling price higher than those observed in 2006 and 2005. Now, isn't it a sign of a strong market in Stamford? What do you think? How is your local market doing? NESTOR N. ROMEROWWW.HOMESBYNESTOR.COM Read more:Sales
STAMFORD, Single Family - Market Snapshpot - December 15, 2007 2007-12-15 23:49:24 When comparing the snapshot of the market of Single Family
homes in Stamford taken on November 23 and the one taken today, we can conclude that Active Single Family Homes have seen Median Listing Price increased by 1.15%, and homes under contract today have a Listing Median Price 28.53% higher than those under contract on November 23.On the other hand, those shown today as "Price Reduced" have a Median Listing Price of 29.82% lower than those under the same status on November 23. New Listings today have a Median Listing Price of $937,000 vs. $729,000 for the same group on November 23, or a 5.13% price reduction. Read more:Market
, December
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