Interest rates and down payment amounts are both trending upwards, according to recent articles on the current state of home mortgages, potentially reducing the purchasing power of buyers. After bottoming out around 4.25% last fall, mortgage rates for 30-year fixed-rate loans have recently moved above 5% for the first time in about a year. Commentators observe that rising rates will cause some buyers to rethink the advantages of home ownership, but generally conclude that they
The number of condominiums that went under contract in Hartford County this January trailed 2010’s total by just over 20%. The drop in activity continues the post tax credit trend from last year. Since this month’s deal count was actually in line with the January 2009 numbers, it appears that the market is simply returning to a more realistic activity level after being goosed by last year’s tax credit. Buyers and sellers successfully negotiated contracts
The City of Hartford is seeking development proposals for 8 city-owned blocks of property. The sale overview notes that the goal is to develop and/or revitalize the properties in accordance with the guiding principles of the One City, One Plan planning document. We’re excited that the City is taking steps to get these parcels into the hands of developers. If all goes according to plan, the future projects will not only improve the various neighborhoods,
Last week I received an email from a person inquiring about one of our listings. They wondered if it was still for sale. We get these sorts of messages every now and then. They’re exciting – a new lead and opportunity for our seller. I responded that it was and said that I’d be happy to answer any questions for them or take them for a visit, if they’d like. A few days later they
The number of Hartford County single-family homes that went under contract in January 2011 was 12% higher than the January 2010 total. Clearly, the month of snow had less of an impact on buyers than we had previously thought (January Listings Down 24% Year-Over-Year). Here’s the breakdown of how the individual towns fared. As always, individual towns within the County performed very differently. Avon and Manchester are the first towns that jump out since both