The summer is essentially over, so we’re closing the books on the spring/summer real estate market. How did we compare to last year? As always, data came from the CT Multiple Listing Service for single family homes only and is deemed reliable, but not guaranteed… My observations… 1. Aggregating the towns, closings this year were just about even with June through August 2008, up just 1.1%. Some towns saw wild fluctuations though. South Windsor, Vernon,
I’ve been working with a lot of first time buyers this year. Many of them have been motivated by the $8,000 first time buyer tax credit that the government is offering. A good number of them have already closed on a property and are set to receive their refund next year when they submit their Federal Income Taxes. Some of my buyers are still looking though. They are waiting for the right house. Or they
The real estate appraisal business has been under increased scrutiny in the wake of the national housing bust. An article in today’s Wall Street Journal highlights the current challenges in securing an independent, yet accurate, property valuation. Appraisals are an important part of a real estate purchase, helping to make sure that the negotiated purchase price is in line with recent comparable sales. Mortgage underwriters require an appraisal so that they can feel comfortable that
The July real estate market statistics for Greater Hartford are ready and they look better than they have in many months. As always, data came from the CT Multiple Listing Service for single family homes only and is deemed reliable, but not guaranteed… My observations… 1. Twelve of the seventeen towns covered actually saw an increase in the number of closed sales when comparing July 2008 to July 2009. Also, when aggregating these towns, the
When a buyer is interested in a property in the Hartford area and they want to make an offer, it is customary that they sit down with their agent and write up the offer. Most real estate agencies in Greater Hartford belong to the Greater Hartford Association of Realtors and they have standard contracts we use that help facilitate this process. Once an offer is written, it’s presented to the seller’s agent who then presents