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Posts Tagged ‘selling a home in ct’

Are Foreclosures Really Decreasing?

RealtyTrac – a leading provider of tracking data on Foreclosure Activity, used by many private and public sector organizations to help evaluate foreclosure trends, reported late last week on a national level foreclosure activity dropped 9% in April.

Sounds like good news right?

Well – hold 0n just one minute there, Bucko.   There may, indeed, be more to the story.

What if there were lots and lots of  homeowners, who can’t afford their payments have realized that the banks are taking a long time to take action against them?

What if some of those homeowners just stopped making their payments and are staying in their homes, making no payments for up to a year or more?

Diana Olick of CNBC says these are questions that have to be considered.   Here is her article from May 13, 2010 on this very subject called  “Banks Ignore Delinquent Borrowers”

I’ll hang on here while you go read that.

OK  – Done?

So how does that affect owners that are operating outside of this part of the market.  You know, people who have equity in their house and would like to sell.

While no one knows for sure when those foreclosures are going to hit the market – or if they are in your town, your neighborhood, one thing is for sure.  If they do, it will affect the value of your home in a negative way.

Again – every situation is different and you have to work with your Realtor to determine the best course of action for you.  Having said that, if you are interested in selling, come up with marketing plan and a price point that will move your house quickly.  The idea of  “Trying a high price” for a while – may have passed.

If you have a need to move for one reason of another, such as wanting more space, less traffic, nearer to work or school – just get it done.   Even though the economy shows signs of getting better, the decline in housing prices may not be over – not for quite a while.

——

Rick Schwartz,   REALTOR

Homes for sale in Danbury, Bethel, Brookfield, Newtown, New Fairfield, New Milford, Ridgefield and Redding CT.

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New Way to Search for Connecticut Home Listings

The process of looking for home listings has changed many times over the last 20 years or so – from the old hard-copy MLS book that the Realtors kept under lock and key to today’s ability to simply go online, put in your parameters and see listings.  With most of the online services you can see all the details of the listing and then, if you choose, contact your Realtor to find out more info or to schedule a showing.

Well  – technology has jumped again and theres’ a new wrinkle to the online search. It is available here in Connecticut – it’s called LISTINGBOOK.  What Listingbook does is give you direct access into our Greater Fairfield County Multiple Listing Service database so you can see everything that’s out there that meets y our criteria.  You will see things the minute they become live- including the most recent updates such as price changes.

There’s more to it than that. What you get is your own Listingbook Account that will enable you to put in your search parameters and receive a daily report right in your email inbox that shows you new or changed listings that fit.

When you look at the listings you can do a number of things – you can save them as favorites, reject them, write youself notes that will stay attached to the listing so when you share the info with your partner you won’t forget anything obvservations you wanted to make.  Your partner can also write notes, commenting on your notes.  If you see a listing that you want to share with someone else – someone who is NOT on Listingbook, you can email them the listing sheet with just a couple of clicks.

Here are some other features:

Payment Calculator –  this is not just  a generic mortgage rate calculator.  Each listing has a separate screen which has the pertinent tax data associated with it.  You can put in several “what-ifs” such as “If I can buy this house for XX and I get a conventional mortgage for XX years at XX percent”.  You’ll then be able to see your total costs for that property.  Compare this to other properties in different communities and you’ll be able to get a bigger picture.

Dialogue with your Realtor –  If you see a property that sound like it might be good but you need a little mor info – you don’t have call your Realtor or even leave the system and send an email. Just use the handy Messaging System to write a question – directly on the specific listing.  Your Realtor will receive notification that he has a new note.  He can then answer your question- directly on the note screen for that listing – where his answer will stay.  You can get all your questions answered quickly and efficiently and never worry about where you wrote down the answer.

Property Watch – If you’re in the early stages of shopping and y ou see something that you like, you can set up a property watch on a specific listing. This will send you an alert if something happens such as the price being changed or other new information being put into the MLS, such as perhaps the seller is now offering a home warranty or they’ve redone the driveway or put in new counters. So you can keep abreast of what’s going on – in real time – with the listings that interest you.

Live Chat with your Realtor.  If you and your Realtor are both on line at the same time, you can use the message function as an IM system to chat about specific properties. You can also have a conference call – you can be on the phone with your Realtor and maybe your partner. You can all be on the Listingbook system simultaneously planning your strategy for properties – together.

There’s much more – in fact there is a whole separate application to help home sellers – not just buyers – keeping track of competitive properties and values in your neighborhoods – a Cyber CMA to help set the right asking price for your house.  It will also let you know if any other consumers or Realtors have viewed your home in the Listingbook system – to keep track of the activity.

This service doesn’t cost you anything at all, BTW.  If you’re interested, you just have to CLICK HERE to set up your free account or just to find out more about it.  If you need any additional info, just give me a shout and I’ll be happy to help.

Once you sign up – you won’t need any other vehicle to search for homes. Listingbook will do it all for you.  This truly is one of those things that after you begin using it, you’ll look back at some point and wonder how anyone can look for a home without it.