According to Jeff Jensen of Connecticut Home Mortgage, current mortgage lending rates for 2/24/11 are as follows:
30 year fixed rate - 5.0-5.`25%
Jumbo 30 year fixed rate - 5.125%
5/1 ARM- 3.5%
5/1 Interest Only - 3.85%
Jumbo 15 year fixed rate - 4.50%
Friday, February 25, 2011
Tuesday, February 22, 2011
Current Mortgage Lending Rates
According to Jeff Jensen of Connecticut Home Mortgage, current mortgage lending rates for 2/10/11 are as follows:
30 year fixed rate - 5.125-5.25%
Jumbo 30 year fixed rate - 5.25%
5/1 ARM- 3.75%
5/1 Interest Only - 4.0%
Jumbo 15 year fixed rate - 4.50%
30 year fixed rate - 5.125-5.25%
Jumbo 30 year fixed rate - 5.25%
5/1 ARM- 3.75%
5/1 Interest Only - 4.0%
Jumbo 15 year fixed rate - 4.50%
Wednesday, January 5, 2011
2010 Scoop on the Market
What really happened in Westport’s Real Estate market in 2010? Buyers seem to believe that prices are still going down while sellers are sure prices are on their way up. Of course, without a crystal ball, no one can truly tell the future, however, based on a comparison of 2009 to 2010 sales, the market is certainly stable, with great values for buyers. Current values are estimated to be close to those in 2003. Anyone who purchased a home after 2003 who is selling now should expect to lose money on the sale side, but hopefully recoup the loss when they buy another home. Interest lending rates continue to be historically low and sellers have become more negotiable.
Presently there are 224* houses on the market in Westport, with an average list price of $2,235,282, and an average market time of 144 days (which doesn’t mean much, since homes could have be re-listed and the market time than restarts at 0). The most expensive home listed for sale is priced at $24,950,000., and located on Beachside Avenue, offering 4 acres, a 10,000 square foot house, included are a 2 bedroom guest house and a 2 bedroom gate house, garage space for 9 cars and 215 feet of direct waterfront access. The least expensive home on the market in Westport is priced at $274,900. on Crescent Park Road with 3 bedrooms, 2 baths in 1156 square feet.
The average list price for a 3 bedroom home is $976,271, a 4 bedroom home is $1,693,448 and a 5 bedrooms or more home is $3,157,237. Interestingly though, over the last 6 months, the list and sold prices of those homes that actually sold in that period are dramatically lower. The average list/sold price of a 3 bedroom home was $732,779/$697,267, a 4 bedroom home was $1,336,718/$1,235,857 and for a 5 bedroom or more home $2,506,363/$2,282,737. These figures suggest that many overpriced homes that are not negotiating prices and are remaining on the market unsold.
In 2010, 350 homes have closed (sold) with an average market time of 102 days, an average list price of $1,552,295., and an average swales price of $1,446,565. The most expensive home sold in 2010 in Westport closed for $20,000,000. It is located on Beachside Avenue on 6.62 acres, offering 3 building lots and 600 feet of direct waterfront property. The least expensive sale was $365,000., located on Richmondville Avenue.
There are currently an additional 39 homes that are considered “pending”, which means contracts are executed and they are awaiting closure.
In 2009, 250 homes sold in Westport. Average market time was 128 days with an average list price of $1,547,465., and an average sales price of $1,419,436. The most expensive home sold last year closed for $6,500,000 on Sasco Creek Road and the least expensive home sold on Newtown Turnpike for $277,000.
The bottom line, the Westport Market is alive! Properties at all price points are selling when priced correctly. Our buyers in Westport are well educated. They know the market, and are not willing to overpay. The market will not allow you to under price your home (the price will be bid up by savvy buyers), but the market will allow you to hold on to your overpriced listing for years! Price it right and be ready to negotiate.
*These statistics are based on the homes listed for sale through the Greater-Fairfield County Multiple Listing Service as of January 5, 2011.
Presently there are 224* houses on the market in Westport, with an average list price of $2,235,282, and an average market time of 144 days (which doesn’t mean much, since homes could have be re-listed and the market time than restarts at 0). The most expensive home listed for sale is priced at $24,950,000., and located on Beachside Avenue, offering 4 acres, a 10,000 square foot house, included are a 2 bedroom guest house and a 2 bedroom gate house, garage space for 9 cars and 215 feet of direct waterfront access. The least expensive home on the market in Westport is priced at $274,900. on Crescent Park Road with 3 bedrooms, 2 baths in 1156 square feet.
The average list price for a 3 bedroom home is $976,271, a 4 bedroom home is $1,693,448 and a 5 bedrooms or more home is $3,157,237. Interestingly though, over the last 6 months, the list and sold prices of those homes that actually sold in that period are dramatically lower. The average list/sold price of a 3 bedroom home was $732,779/$697,267, a 4 bedroom home was $1,336,718/$1,235,857 and for a 5 bedroom or more home $2,506,363/$2,282,737. These figures suggest that many overpriced homes that are not negotiating prices and are remaining on the market unsold.
In 2010, 350 homes have closed (sold) with an average market time of 102 days, an average list price of $1,552,295., and an average swales price of $1,446,565. The most expensive home sold in 2010 in Westport closed for $20,000,000. It is located on Beachside Avenue on 6.62 acres, offering 3 building lots and 600 feet of direct waterfront property. The least expensive sale was $365,000., located on Richmondville Avenue.
There are currently an additional 39 homes that are considered “pending”, which means contracts are executed and they are awaiting closure.
In 2009, 250 homes sold in Westport. Average market time was 128 days with an average list price of $1,547,465., and an average sales price of $1,419,436. The most expensive home sold last year closed for $6,500,000 on Sasco Creek Road and the least expensive home sold on Newtown Turnpike for $277,000.
The bottom line, the Westport Market is alive! Properties at all price points are selling when priced correctly. Our buyers in Westport are well educated. They know the market, and are not willing to overpay. The market will not allow you to under price your home (the price will be bid up by savvy buyers), but the market will allow you to hold on to your overpriced listing for years! Price it right and be ready to negotiate.
*These statistics are based on the homes listed for sale through the Greater-Fairfield County Multiple Listing Service as of January 5, 2011.
Sunday, December 5, 2010
2010 Brownie Delivery Responses
My annual Brownie Delivery is just beginning. I always enjoy your responses. I hope you don't mind my sharing them!
Thanks so much!!! I created 2 LBS brownie addicts within 2 mins after u handing them to me
They are almost gone. Thank you so much. They are amazing. Can't wait until next year.
The kids found them, which I guess is good since I won’t eat the whole tin myself.
If you see my kids in town...don't tell them you already delivered them. I don't want to share!
Yummy!!!
Thanks for the brownies. They were a great surprise when we arrived home from vacation last night.
So delicious, so thoughtful, and with sincere thanks - your brownies are such a tasty treat and really make the holiday time so much more festive
My kids LOVE you!!!!!
Thanks you so much!! xo
The kids will be psyched
When you go to heaven, God is going to ask you for your brownie recipe!
Can't wait! Thanks!
Thank you thank you thank you!!!!!! There goes the diet AGAIN!
My kids are going to be so PSYCHED!! Thank you, dear!! xoxo
Yay!!
Thanks so much for the incredible brownies.......hope you and your family have a happy and healthy holiday season and great 2011!
Thank you Linda,but I have to hide it. It is deeelicious.
Thanks so much Linda!!
As delish and decadent as always!
Happy holidays!!
Thanks for the brownies, they didn't even last 12 hours in my house!!
I denied that we received them to my husband!!
Thanks so much for the brownies! We were away, my neighbor got my mail, ate some, and froze the rest! She was very jealous!!! Anyway, can't wait for them to thaw....... xo
Mmmm! Thank you.
Can't wait to get home. En route from HK.. No brownies over there like yours!!
you're the best!!! thank you thank you thank you!!
Can’t wait. Always a treat. Thanks.
Thanks so much!!! I created 2 LBS brownie addicts within 2 mins after u handing them to me
They are almost gone. Thank you so much. They are amazing. Can't wait until next year.
The kids found them, which I guess is good since I won’t eat the whole tin myself.
If you see my kids in town...don't tell them you already delivered them. I don't want to share!
Yummy!!!
Thanks for the brownies. They were a great surprise when we arrived home from vacation last night.
So delicious, so thoughtful, and with sincere thanks - your brownies are such a tasty treat and really make the holiday time so much more festive
My kids LOVE you!!!!!
Thanks you so much!! xo
The kids will be psyched
When you go to heaven, God is going to ask you for your brownie recipe!
Can't wait! Thanks!
Thank you thank you thank you!!!!!! There goes the diet AGAIN!
My kids are going to be so PSYCHED!! Thank you, dear!! xoxo
Yay!!
Thanks so much for the incredible brownies.......hope you and your family have a happy and healthy holiday season and great 2011!
Thank you Linda,but I have to hide it. It is deeelicious.
Thanks so much Linda!!
As delish and decadent as always!
Happy holidays!!
Thanks for the brownies, they didn't even last 12 hours in my house!!
I denied that we received them to my husband!!
Thanks so much for the brownies! We were away, my neighbor got my mail, ate some, and froze the rest! She was very jealous!!! Anyway, can't wait for them to thaw....... xo
Mmmm! Thank you.
Can't wait to get home. En route from HK.. No brownies over there like yours!!
you're the best!!! thank you thank you thank you!!
Can’t wait. Always a treat. Thanks.
Current Mortgage Lending Rates December 2, 2010
According to Jeff Jensen of Connecticut Home Mortgage, current mortgage lending rates for 12/2/10 are as follows:
30 year fixed rate - 4.75-4.85%
Jumbo 30 year fixed rate - 5.125%
5/1 ARM- 3.50%
5/1 Interest Only - 3.75%
Jumbo 15 year fixed rate - 4.125%
30 year fixed rate - 4.75-4.85%
Jumbo 30 year fixed rate - 5.125%
5/1 ARM- 3.50%
5/1 Interest Only - 3.75%
Jumbo 15 year fixed rate - 4.125%
Monday, November 29, 2010
Get Ready for Winter
As the days are getting shorter and nights colder, it is clear that winter is fast approaching. Make sure your home is prepared for the lower temperatures with some simple preventative maintenance.
Roof, Gutters and Downspouts
Make sure gutters are well cleared of leaves, sticks and other debris. Once gutters are emptied, run water through downspouts to ensure there is no blockage. If left undone, a simple obstruction could cause water to back up and seep through walls and ceilings causing serious and expensive damage. A wise investment would include either gutter guards or screens that lessen or entirely prevent the debris that accumulates in the gutters in the first place.
Water Heater
It would be awful to have your hot water heater malfunction on a cold winter day. As part of your annual service call, have your hot water heater tested. This should include testing the tank’s pressure and temperature relief valve while also removing sediment from the bottom of the tank by draining 2 gallons of water. This will help improve the efficiency and heat transfer of your unit.
Heating and Cooling System
Book your annual service with your oil company before it gets too cold or you will find yourself on a long wait list. If you do not have a service contract, or prefer to do it yourself, change the disposable filters, vacuum lint and dirt from blower blades and motor and clean air passages. Check or replace fan belts if needed.
Doors and Windows
By making sure doors and windows are properly sealed, you can help control heating costs. Weather stripping should be repaired or replaced around window frames and door bottoms and jams. Install storm windows and doors if available.
Water Pipes
Major damage from frozen or burst pipes can be easily prevented with advance preparation.. Before the cold weather sets in, add insulation to your pipes located in unheated areas. Simply wrap the pipes with blanket insulation or heating tape or completely incase them with preformed foam. Check for leaks and cracks and correct any minor problems.
Fireplace
Call a reputable fireplace sweep company. Do not fall for the phone calls claiming they are already working on homes in your area. Your chimney flue should be cleaned annually. Have the seal on your flue inspected to keep out drafts. Check for loose masonry and ensure your fireplace is in good working order.
Inexpensive quick fixes now will help you avoid expensive and time consuming troubles later.
Roof, Gutters and Downspouts
Make sure gutters are well cleared of leaves, sticks and other debris. Once gutters are emptied, run water through downspouts to ensure there is no blockage. If left undone, a simple obstruction could cause water to back up and seep through walls and ceilings causing serious and expensive damage. A wise investment would include either gutter guards or screens that lessen or entirely prevent the debris that accumulates in the gutters in the first place.
Water Heater
It would be awful to have your hot water heater malfunction on a cold winter day. As part of your annual service call, have your hot water heater tested. This should include testing the tank’s pressure and temperature relief valve while also removing sediment from the bottom of the tank by draining 2 gallons of water. This will help improve the efficiency and heat transfer of your unit.
Heating and Cooling System
Book your annual service with your oil company before it gets too cold or you will find yourself on a long wait list. If you do not have a service contract, or prefer to do it yourself, change the disposable filters, vacuum lint and dirt from blower blades and motor and clean air passages. Check or replace fan belts if needed.
Doors and Windows
By making sure doors and windows are properly sealed, you can help control heating costs. Weather stripping should be repaired or replaced around window frames and door bottoms and jams. Install storm windows and doors if available.
Water Pipes
Major damage from frozen or burst pipes can be easily prevented with advance preparation.. Before the cold weather sets in, add insulation to your pipes located in unheated areas. Simply wrap the pipes with blanket insulation or heating tape or completely incase them with preformed foam. Check for leaks and cracks and correct any minor problems.
Fireplace
Call a reputable fireplace sweep company. Do not fall for the phone calls claiming they are already working on homes in your area. Your chimney flue should be cleaned annually. Have the seal on your flue inspected to keep out drafts. Check for loose masonry and ensure your fireplace is in good working order.
Inexpensive quick fixes now will help you avoid expensive and time consuming troubles later.
Monday, November 1, 2010
Make Your Offer Stand Out Every Time !
Unless you have had your head in the sand at Compo Beach, you already know that it is a “Buyer’s Market” when it comes to home sales. Reduced asking prices, coupled with historically low mortgage lending rates, have sparked an enthusiasm into Westport’s residential market. A properly priced home in the right location is once again creating a frenzy and even bidding wars. An educated buyer should be prepared to put their best foot forward to ensure they will obtain an accepted offer from their bid.
Price - Clearly, price is one of the primary considerations when a seller is reviewing your offer. If you find yourself in a bidding war, consider offering the seller a premium of a set dollar amount above their highest offer.
Financing – Before you prepare an offer, it is important to meet with a mortgage lender. It doesn’t matter to the seller if you speak with a Mortgage Broker or The Lender directly, as long as you are prequalified. However, a “pre-qualification” will only take you so far. This shows that you can afford the property based on the information that you have given the lender. However, a “pre-approval” goes a few steps further. A pre-approval verifies your employment and your credit history. You can be cleared for a pre-determined maximum loan, allowing you to make a “mortgage contingency” free offer, which reduces the seller’s risk greatly, in essence making your offer more appealing.
Good Faith Deposit – When a potential buyer offers a larger than the customary 1% earnest money deposit with an offer, it will certainly gain a seller’s attention. It can demonstrate the buyer’s motivation and their ability to accumulate funds quickly.
Contingencies – Minimizing contingencies and clauses that make it harder for the buyer to cancel the contract once inspections and financing is secured will go a long way to prove to a seller the buyer’s desire to make the transaction continue smoothly. Certainly a first time buyer or renter is extra appealing to a seller, so the sale of their current house does not complicate the timing or ability to close.
Build a Relationship – Try connecting with the seller on some level. Of course price, terms and contingencies are always going to prevail, but if all else is comparable, a seller tends to like accepting an offer from people that they have met, and who they believe will take good care of their home.
Trust your seasoned Realtor to know the best way to position your offer. Whether you are planning to purchase your dream home or an investment property, knowledge, skill and your agent’s expertise will help you facilitate making a sound offer that, when realistic, will lead to an accepted offer.
Price - Clearly, price is one of the primary considerations when a seller is reviewing your offer. If you find yourself in a bidding war, consider offering the seller a premium of a set dollar amount above their highest offer.
Financing – Before you prepare an offer, it is important to meet with a mortgage lender. It doesn’t matter to the seller if you speak with a Mortgage Broker or The Lender directly, as long as you are prequalified. However, a “pre-qualification” will only take you so far. This shows that you can afford the property based on the information that you have given the lender. However, a “pre-approval” goes a few steps further. A pre-approval verifies your employment and your credit history. You can be cleared for a pre-determined maximum loan, allowing you to make a “mortgage contingency” free offer, which reduces the seller’s risk greatly, in essence making your offer more appealing.
Good Faith Deposit – When a potential buyer offers a larger than the customary 1% earnest money deposit with an offer, it will certainly gain a seller’s attention. It can demonstrate the buyer’s motivation and their ability to accumulate funds quickly.
Contingencies – Minimizing contingencies and clauses that make it harder for the buyer to cancel the contract once inspections and financing is secured will go a long way to prove to a seller the buyer’s desire to make the transaction continue smoothly. Certainly a first time buyer or renter is extra appealing to a seller, so the sale of their current house does not complicate the timing or ability to close.
Build a Relationship – Try connecting with the seller on some level. Of course price, terms and contingencies are always going to prevail, but if all else is comparable, a seller tends to like accepting an offer from people that they have met, and who they believe will take good care of their home.
Trust your seasoned Realtor to know the best way to position your offer. Whether you are planning to purchase your dream home or an investment property, knowledge, skill and your agent’s expertise will help you facilitate making a sound offer that, when realistic, will lead to an accepted offer.
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