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Stamford CT real estate…to list or not to list??? that is the question.

Monday, October 25th, 2010




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We all realize that it is not the ideal time to try and list your home, but if you are buying in the same area, say, Stamford CT for example icon wink Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate then your lowered house price will also be reflected when you buy your replacement house. Nothing is lost therefore – or is it?

Sometimes we can become aware of the fact that we really must move. Maybe the children are too big and we really need to move for that extra bedroom; perhaps there is a need for a bigger rec room, or an extra bathroom.

Many circumstances make house-moving come to mind, but have you worked out the cost of remodeling as opposed to the cost of moving? When we think about moving, we often think of all the irksome things about our home, but we do not remember all the conveniences that might not be available in the next home.

What about the qualities you really like about this home? Even small things like the sun shining into your kitchen in the morning are priceless to some people.

One of the first things to consider is your ‘gut feeling’. Do you want to move because you want to get away from something that is bugging you in that house? If so, think about including that in a remodeling project (as long as it is not an irritating neighbor!)

Write down all the things that are missing in the house you are in, that you know you can afford to buy in the next house. For instance, a third bedroom is one reason you must move, and you would like a big yard. But have you checked the prices of three-bed roomed homes with a big yard in your area?

Cost is really the biggest factor that we all have to takeinto account. Obviously the comparative costs of moving versus re-modeling may play a part.

It is easy enough to calculate the cost of remodeling, you simply ask a builder for a quote. (Use several builders.) If you are doing it yourself, then it will take longer to calculate everything you need to buy. Some hardware stores offer a quotation service. There are on line services for instance on the Home and Garden Web site, where you can pick out your kitchen or bathroom type, choose cabinets and colors of your choicer, one click and it all whizzes into place!

There are also short cuts you can take to get your dream kitchen, like just ordering new cabinet doors and drawers instead of refitting the whole kitchen. These replacement doors come in various price ranges starting from inexpensive white laminate up to classy dark cherry wood.

The cost of moving is harder to calculate, as it contains many hidden costs. For instance all the small costs like a day off work to move, the cost of moving boxes, the paint costs to touch up the outside of the house and those extra shrubs you will buy to make the yard look good.

The larger expenses are easier to spot, for instance: the fee to the realtor, the difference between the cost price of selling your home and buying the new home, the closing fees and legal fees for both houses.

Then there is the actual cost of the physical move, will it be by a removal company or do you plan to do it yourself? Once in the new home, what of drapes and any extras that will be required.

Once all the figures are in, and you have done the math, you may find it easier to make a logical decision and you also feel better in knowing all the cost factors involved – so there will be no surprises. If you do decide to sell, i would love the opportunity to provide a FREE no- obligation market analysis for your Stamford, CT real estate! Just email: nicole@thepropnet.com for an appointment!! icon smile Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate



  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
  • wp socializer sprite mask 16px Stamford CT real estate...to list or not to list??? that is the question. | CT Real Estate
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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
  • 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
  • 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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