Archive for the ‘Selling’ Category

Distressed Homeowners. Options for your Stamford Short Sale.

Monday, October 18th, 2010




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Real estate is not always an easy venture to be involved in. Mortgages are huge loans, and monthly payments can be extremely steep. Especially with the trend a few years back to give out sub-prime mortgages, there have been a lot of foreclosures lately. But foreclosure should be avoided at all costs.
So let’s assume for a moment that you are unable to make your mortgage payments. You become a defaulted owner. Now what? Well, typically, your lending institution will foreclose its mortgage. If this happens, not only will you lose your property when it goes back to the bank, you will lose all your equity. In addition, foreclosure reduces your credit rating, leaving a permanent stain on your credit account. This can be extremely hard to remove, and may prevent you from ever borrowing again. Finally, you may even have to pay taxes on the debt reduction amount. So in trying to save money, you’ve only added another expense to your list of bills. All in all, foreclosure is a bad deal for you.
There are two main types of foreclosure, foreclosure by judicial sale (the type we have here in Connecticut) and foreclosure by power of sale. In the former, the court supervises the sale of the property. In the latter, the bank or mortgage holder sells the home. In a strict foreclosure, not in use in all states, the bank would assume the deed of the defaulted mortgage, without the obligation to sell. This method is less popular as few banks want to become landlords. Usually, by whatever means, the foreclosure involves the sale of the property. In Stamford, CT Foreclosures are Judicial.
If you are unable to make the mortgage payments on your Stamford, CT home, or in any other way are unable to fulfill the obligations of your lending contract, it is best if you sell your real estate as soon as possible. This may mean selling at a much lower rate than market value, however as a homeowner, you may be able to retain some equity from your home, and you will definitely save your credit rating. This is very important for your future real estate purchases, and just about anything else in your life. By selling your home yourself, with or without the help of an agent, you are keeping the power in your hands. Even if you come out of it with no equity, the chances of losing money is slim unless your home has become totally derelict. Even then, you are still better off selling it yourself than allowing a foreclosure to go ahead.
While in a stressful situation such as mounting debt, it can seem like the easy thing to drop everything and run. But as I’ve outlined, it is never to your advantage to let a property foreclose. The key to saving yourself from this fate may be an honest analysis of your expenses. If you can see a problem coming, you have more time to act on it. Rather than waiting to the last minute, put your home up for sale as soon as you suspect you will have trouble making payments in the future. The more time you have to sell, the more likely you’ll walk away with a fair price for your property. You may even be able to find another, cheaper home, and nobody will have been the wiser that you narrowly escaped financial disaster.

Nicole Borsey is a Stamford Short Sale Expert.

Contact her for FREE advice. There ARE options!!!



  • wp socializer sprite mask 16px Distressed Homeowners. Options for your Stamford Short Sale.  | CT Real Estate
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  • wp socializer sprite mask 16px Distressed Homeowners. Options for your Stamford Short Sale.  | CT Real Estate
  • wp socializer sprite mask 16px Distressed Homeowners. Options for your Stamford Short Sale.  | CT Real Estate
  • wp socializer sprite mask 16px Distressed Homeowners. Options for your Stamford Short Sale.  | CT Real Estate
  • wp socializer sprite mask 16px Distressed Homeowners. Options for your Stamford Short Sale.  | CT Real Estate
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Norwalk Homes for Sale | Way Below Market Value

Friday, March 19th, 2010




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photo Norwalk Homes for Sale | Way Below Market Value | CT Real Estate
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  • wp socializer sprite mask 16px Norwalk Homes for Sale | Way Below Market Value | CT Real Estate
  • wp socializer sprite mask 16px Norwalk Homes for Sale | Way Below Market Value | CT Real Estate
  • wp socializer sprite mask 16px Norwalk Homes for Sale | Way Below Market Value | CT Real Estate
  • wp socializer sprite mask 16px Norwalk Homes for Sale | Way Below Market Value | CT Real Estate
  • wp socializer sprite mask 16px Norwalk Homes for Sale | Way Below Market Value | CT Real Estate
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Economic Update – Feb 22, 2010

Monday, February 22nd, 2010




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Last Week in the News


The National Association of Home Builders/Wells Fargo housing market index rose two points in February to 17. It was the first gain in five months. Economists had anticipated a dip to 14. An index reading below 50 indicates negative sentiment about the housing market.

The combined construction of new single-family homes and apartments in January rose 2.8% to a seasonally adjusted annual rate of 591,000 units. However, applications for new building permits, seen as an indicator of future activity, fell 4.9% to 621,000 units.

Industrial production at the nation’s factories, mines and utilities increased 0.9% in January, following an upwardly revised 0.7% gain in December. It was the seventh consecutive monthly increase. The overall factory-operating rate rose to 72.6% of capacity in January from 71.9% in December.

The producer price index, which tracks wholesale price inflation, rose 1.4% in January, following an upwardly revised 0.4% increase in December. Economists had expected a gain of 0.8%. The gains were largely due to higher energy costs.

Initial claims for unemployment benefits rose by 31,000 to 473,000 in the week ending February 13. Continuing claims for the week ending February 6 held steady at 4.538 million. Experts believe snowstorms in early February may have cost the economy as many as 100,000 jobs.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose a smaller-than-expected 0.3% in January after a revised 1.2% gain in December. It was the 10th straight monthly increase and the longest series of gains since 2004.

Consumer prices rose 0.2% in January. Excluding energy and food, the so-called core index unexpectedly slipped 0.1%, the first monthly decline since December 1982.

The Federal Reserve Board raised the discount rate charged to banks by a quarter-point to 0.75%.

Upcoming on the economic calendar are reports on the housing price index on February 23, new home sales on February 24, and existing home sales on February 26.

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


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  • wp socializer sprite mask 16px Economic Update   Feb 22, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Feb 22, 2010 | CT Real Estate
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  • wp socializer sprite mask 16px Economic Update   Feb 22, 2010 | CT Real Estate
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Exit Stage Left: Help sell your house through the art of staging.

Tuesday, January 26th, 2010




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-By your local Stamford Connecticut Real Estate Broker, Nicole Borsey at the Property Network

To Stage or not to Stage that is the question, and I’m telling you right now, Staging is the answer. Staging transforms your home into a house and then takes it from a house to a home for the potential buyer. Confused???  Read on…

When you first make the decision to sell your home, more times than not, you start with a good cleaning. You work your way from top to bottom. Anywhere from the basement to the garage, it all has to be spotless. Don’t get me wrong, a good cleaning is necessary, but you have to do more than just clean out the cob webs and dust balls under the couch. You have to clean the walls, patch nail holes, and start to set the stage.

Begin cleaning off the walls by taking down all of your family photos and touching up the holes with some spackle and paint. This leaves the potential buyer with a blank canvas effect. One or two neutral pictures on the wall will never hurt, but having all of the pictures from last year’s family reunion leaves your stamp. You don’t want that, you want the buyer to walk in and see themselves in the space. You want them to feel like they are at home. Their home, not yours!

Location, location, location! You must relocate any clutter. If your house has clutter in any rooms, clean it out! You want to maximize your room space. Clutter gives off the feeling that a room is smaller than it really is. It also leads the buyer to believe that the house lacks storage space. If you can’t bear to part with the items that are causing the clutter, then organize it. Buy bins and find a nice neat place to store your personal belongings for now, like a corner in the basement or the garage.

There are plenty of high traffic areas in your house and you want these clear too. Extra furniture and furnishings fill up a room quickly. You have to find your center and think Feng Shui. You want your rooms to flow and extra furniture and knick knacks can block that flow. You want to give the feel of open space in these high traffic areas. Otherwise, it can cut off your room and make it feel like the room is small and closed off.

We all have “good sides” and so does each room in your house. You want to show off all the “good sides” and highlight any special features. If there is a corner in your living room that is a cozy spot for reading, set it up for just that. Stage the space with a comfortable chair, a side table with a lamp and a place book on it as well. Make the buyer believe that is where you read every night. If you have a play room in the basement, set it up as an organized play area, with games and a few toys out. It’s all about showing off the potential of your home to buyers.

If you follow these few steps, you’ll transform your home (with your pictures, memories and clutter) to a house (full of potential for a new buyer). This in turn will open up your house to become the future home of someone else. Sounds simple, right???

Stamford Connecticut is the home of The Property Network. We want make Stamford your home too!



  • wp socializer sprite mask 16px Exit Stage Left: Help sell your house through the art of staging. | CT Real Estate
  • wp socializer sprite mask 16px Exit Stage Left: Help sell your house through the art of staging. | CT Real Estate
  • wp socializer sprite mask 16px Exit Stage Left: Help sell your house through the art of staging. | CT Real Estate
  • wp socializer sprite mask 16px Exit Stage Left: Help sell your house through the art of staging. | CT Real Estate
  • wp socializer sprite mask 16px Exit Stage Left: Help sell your house through the art of staging. | CT Real Estate
  • wp socializer sprite mask 16px Exit Stage Left: Help sell your house through the art of staging. | CT Real Estate
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