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Archive for September, 2010

Connecticut Real Estate – Pleasant Northeastern Escape

Wednesday, September 29th, 2010




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Connecticut is close to all the major attractions in the Northeast, but has much to offer on its own.  If you’re looking for a little peace in the Northeast, Connecticut real estate is a good option.

Connecticut

With a colonial history, beach towns and little seaside villages, Connecticut is a classic Northeaster state. Unlike its neighbors, Connecticut tends to be less populated and have a bit of a slower pace of life.  Sitting close to New York City, Connecticut is a popular relocation spot for people working in the city, but trying to avoid the population crush.

Hartford

The capital of the state, Hartford is a modern city and considered the insurance company capital of the United States. With such a title, you might think Hartford isn’t exactly a vibrant city. Unfortunately, you’re correct. There isn’t much to recommend the city if you’re looking for nightlife or outdoor experiences. Real Estate prices, however, are reasonable for the Northeast and it is a relatively short trip to more vibrant locations.

Mystic

Unlike Hartford, Mystic is a town with a ton of culture. Located on the Atlantic seaboard, the town has a strong seafaring history and takes pride in it. With colonial architecture, the city is bursting with color as the leaves turn in the fall.  A classic seaport, Mystic celebrates the history with maritime museums, classic whaling schooner and as pleasant a group of people as you will ever find. You can even order 5-cent beers in a few local taverns. Admittedly, the glasses are very small but 5 cents is 5 cents!

Connecticut Real Estate

Connecticut real estate prices differ greatly from location to location. Generally, the closer the location is to New York City, the higher the prices. A single-family residence in Hartford will set you back $325,000 but prices range from the low $200,000 to over $1,ooo,ooo throughout the state.



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  • wp socializer sprite mask 16px Connecticut Real Estate   Pleasant Northeastern Escape | CT Real Estate
  • wp socializer sprite mask 16px Connecticut Real Estate   Pleasant Northeastern Escape | CT Real Estate
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Economic Update – September 27, 2010

Monday, September 27th, 2010




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Last Week in the News
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The National Association of Home Builders/Wells Fargo housing market index was unchanged in September at 13. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in August rose 10.5% to a seasonally adjusted annual rate of 598,000 units. The increase was largely due to a boost in the construction of multi-family homes. Applications for new building permits, seen as an indicator of future activity, rose 1.8% to an annual rate of 569,000 units.
Existing home sales rose 7.6% in August to a seasonally adjusted annual rate of 4.13 million units from an upwardly revised 3.84 million units in July. The inventory of unsold homes on the market declined 0.6% to 3.98 million, an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in August after a 0.1% increase in July.
Orders for durable goods — items expected to last three or more years — fell 1.3% in August after increasing a revised 0.7% in July. Excluding volatile transportation-related goods, orders posted a monthly increase of 2%.
New home sales were unchanged in August at a seasonally adjusted annual rate of 288,000 units, matching July, which was revised up from 276,000. Economists had expected a pace of 290,000 units.
Initial claims for unemployment benefits rose by 12,000 to 465,000 for the week ending September 18. Continuing claims for the week ending September 11 fell by 48,000 to 4.49 million.
Upcoming on the economic calendar are reports on the housing price index on September 28 and construction spending on October 1.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



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Economic Update – September 20, 2010

Monday, September 20th, 2010




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Last Week in the News
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Retail sales rose 0.4% in August after a revised 0.3% increase in July. It was the biggest gain since March. Economists had anticipated retail sales to rise 0.3% in August.
Total business inventories rose 1% in July, following a revised 0.5% increase in June. Total business sales rose 0.7% in July after falling 0.5% in June and 1.2% in May.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 10 fell 8.9%. Refinancing applications fell 10.8%. Purchase volume decreased 0.4%.
Industrial production at the nation’s factories, mines and utilities rose 0.2% in August, following a downwardly revised 0.6% increase in July. Capacity utilization rose to 74.7% in August after a revised 74.6% in July.
The producer price index, which tracks wholesale price inflation, rose 0.4% in August, following a 0.2% increase in July. Core prices — excluding food and fuel — rose 0.1% after a 0.3% increase in July. For the year, seasonally adjusted wholesale prices are up 3%.
The Reuters/University of Michigan consumer sentiment index for September’s preliminary reading fell to 66.6 from 68.9 in August. It was the lowest reading since August 2009.
Initial claims for unemployment benefits fell by 3,000 to 450,000 for the week ending September 11. Continuing claims for the week ending September 4 fell by 84,000 to 4.49 million.
Consumer prices rose a seasonally adjusted 0.3% in August, matching a 0.3% increase in July. For the year, seasonally adjusted consumer prices are up 1.2%.
Upcoming on the economic calendar are reports on the housing market index on September 20, housing starts on September 21 and existing home sales on September 23.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   September 20, 2010 | CT Real Estate
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  • wp socializer sprite mask 16px Economic Update   September 20, 2010 | CT Real Estate
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Economic Update – September 13, 2010

Monday, September 13th, 2010




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Last Week in the News
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The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 3 fell 1.5%. Refinancing applications fell 3.1%. Purchase volume rose 6.3%. Refinancing made up 81.9% of total applications.
The Federal Reserve announced consumer credit debt fell in July by $3.6 billion. Economists had forecast that consumer credit debt would fall $3.5 billion in July. Consumer credit debt fell in June by $1.3 billion, $5.3 billion in May and $14.9 billion in April.
According to the ICSC-Goldman Sachs index, retail sales fell 0.4% for the week ending September 4. On a year-over-year basis, retailers saw sales increase 1.8%, the lowest reading since May.
The trade deficit decreased 14% to $42.8 billion in July. Economists had expected the trade deficit to rise to $46.8 billion. Exports rose 1.8% to $153.3 billion, the best reading since August 2008. Sales of civilian aircraft, industrial machinery, computers and telecommunications equipment all posted gains. Imports fell by 2.1% to $196.1 billion.
Wholesalers increased their inventories 1.3% in July, following a 0.3% rise in June. Sales at the wholesale level rose 0.6% in July, the most since April. Economists had anticipated inventories would increase 0.4% in July.
Initial claims for unemployment benefits fell by 27,000 to 451,000 for the week ending September 4. Economists had projected claims would fall to 470,000. Continuing claims for the week ending August 28 fell by 2,000 to 4.47 million.
Upcoming on the economic calendar are reports on retail sales on September 14, industrial production on September 15 and consumer inflation on September 17.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   September 13, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   September 13, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   September 13, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   September 13, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   September 13, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   September 13, 2010 | CT Real Estate
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