Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
A while back we talked about how appraisals can impact a deal. A new twist is that buyers have recently been making their offers more attractive by voluntarily removing the appraisal clause. They take the risk that the appraiser finds that the “value” of the home to be less than the contract price, and they have to bring more cash to the closing. Today we’re going to quantify that risk. Banks require appraisals to help
April single-family contracts came in at about the same level as Hartford County saw last month. Activity remains much higher than we observed in 2011, and the month-to-month count of negotiated contracts seems to be following the same pattern as last year. We’ve already commented on much of what we’re seeing in the market right now. Some towns are very active, and multiple offer situations are common. Inventory is on the low side, so buyers
The other day we wrote about the high levels of activity in the Hartford County market during the month of March. West Hartford really stood out on the chart because 83 homes went under contract, which dwarfed the next highest town – East Hartford with 53 contracts. Part of the model we built to analyze MLS contract data allows us to look at trends in individual towns. Here is the number of West Hartford contracts
Single-family homes in Hartford County continued to be snapped up in March. The month continued the very strong pace from January and February, with a 30% increase in the number of homes that went under contract compared to March 2011. The month was only slightly behind the tax credit fueled binge that we experienced in March of 2010. Each town is a little bit different, but the hot towns are super hot. Just look at
It’s budget season in Greater Hartford, which is always a contentious time for property owners since it is often the first sign of rising taxes. West Hartford has a double dose of uncertainty as the Town works to figure out both the size of the budget and the implementation of the recently completed revaluation. I attended the first of two public budget hearings on Tuesday afternoon in the Town’s Legislative Chambers. Since it seemed like