For Buyers: How to Negotiate in the 2008 Market

On the Connecticut Shoreline, this is the best market for buyers in years.  That said, you still need to be ready when you see the property you want to buy.  Most important:  if you need a mortgage, do not pass GO, just get financing arranged so you have a solid preapproval letter to go along with your offer.  (I feel the need to do a post on financing, but stay tuned.)  The best offer you can make is the one

What Some Agents Don’t Tell Home Sellers About Commission Sharing

If your property is listed for sale with a Realtor in Connecticut, you should have signed not only your listing agreement, but also the long data sheets used to collect information to be entered into the MLS (Multiple Listing Service.)  Why do you need to see that stuff, you ask?  Well, for one thing, you know your house or condo better than anyone and you’ll immediately spot any mistakes.  But you also want to be sure that the paperwork correctly reflects how the commission that you’ve agreed to pay the listing brokerage will be shared with the buyer’s brokerage.  If you negotiated a total commission

Is Renovating or Upgrading Still Smart in a Slower Market?

Well, if you know me by now, you’ll already know the answer is:  it depends!  Before undertaking any project, be very clear about what your goal is.  Perhaps you want to renovate, add on or remodel strictly for your own use and comfort.  Perhaps your house is on the market and not selling so your goal is to increase its appeal to buyers and perhaps sell for more money than without the renovations.  I strongly urge

CABE (Connecticut Association of Boards of Education) Conference

Yes, this is still my real estate blog!  However, I am also a member of the Madison Board of Education and yesterday attended the CABE Conference in Mystic.  Board of Ed service is such a gratifying aspect of my life, but it can also be a major source of anxiety, stress and exhaustion.  It is precisely because of the potential for burnout that conferences with people who understand the work can be so uplifting.  Sharing information about current education issues and seeing some of the incredible work of colleagues around the state and the talents of students were highlights.  But, as I had expected, I found the most inspiration in the keynote by David Warlick of the Landmark Project.  He spoke on Redefining Literacy.  David’s premise is that in the rapidfire change that today’s students do and will live in, we can’t

Should you keep your house on the market over the holidays?

This time of year, typically, sellers ask their Realtor whether they should keep their house listed over the holidays or take it off and put it on again “fresh” after the New Year.  As always, there is no universally correct answer, but my suggestion is

More on the Madison, CT Property Revaluation

From conversations around the town of Madison in the past week, it seems there is largescale confusion regarding the revaluation. 

News reports state that the Grand List increased by 39%.  If your revaluation increased by about that percentage, your relative taxes will remain about the same.  If your increase was more than 39%, your portion of taxes will be greater than it had been.  Obviously, if your increase was less than 39%, your relative taxes will be less. 

In my last post about the reval, I explained the process and gave details regarding more information and informal meetings with the revaluation contractor, Appraisal Resource.  Having visited the www.AppraisalResource.com website again during this week, I did note

Oh Goody! Revaluation Notices Are in the Mailbox!

Most residents of Madison opened the mail this weekend to find their “Revaluation Assessment Notice.”  I’m guessing few found their property decreased in the view of the Town’s revaluation contractor, Appraisal Resource.  That is as it should be because

If your vacant house isn’t selling, should you rent it?

This is such a tough issue for homeowners whose houses aren’t selling.  They’ve already relocated, but the old home sits on the market.  I know this feeling first-hand because we had that happen to us 11 years ago.  Here are the factors you need to consider:

• Do I want to be a landlord?  A long-distance landlord?
• Can I sleep wondering if a tenant is harming my property?

Thinking about buying a lot?

While in some parts of the country it is common to build new construction, in these parts the land available is becoming much more scarce.  Still, new subdivisions do exist, and some individual lots are available for sale.  So, what makes one lot better than another? 

CT Shoreline Market Statistics

Market stats from the end of the third quarter are in.  In Madison, where the median sale price of residential real estate had risen 11.11% from 2004 to 2005 and 4.75% from 2005 to 2006, the median sale price dropped