About Bethel's Lexington Meadows

Sell your Bethel, CT Home in the Spring?! I have been on quite a few Market Analysis lately where potential sellers have been told that it's better to Sell Your Bethel, Ct Home in the Spring?! Some thought that they read it in the newspaper(Is there such a thing as a Newspaper these days?), some were actually told by another Realtor(believe it or not)and some just think that Spring has always been the very best time to sell. Let's see if we can put some plusses and minuses down and see where we end up.

Currently we have the LOWEST INTEREST RATES IN HISTORY. Interest rates have an inverse relationship with price. That means that THE LOWER THE INTEREST RATE THE HIGHER THE MARKET PRICE FOR HOMES. We also know the the Government is artificially holding interests rates down in an effort to stimulate the housing market and therefore the economy. Who knows what the elections will bring and WHO KNOWS WHAT EFFECT THE ELECTIONS WILL HAVE ON THE INTEREST RATES AND THEREFORE THE ECONOMY.

Another factor to consider is the supply of houses on the market in your specific price range. Currently there are alot of houses in every price range and therefore competition is fierce. However, we also have SOMETHING CALLED THE SHADOW INVENTORY which is made up of all the homes that have been foreclosed on but the banks have not taken possession yet. When they do these DISTRESSED PROPERTIES WILL BRING INCREASED DOWNWARD PRESSURE ON PRICES AS THEY WILL BE VALUE PRICED AND IN GREAT SUPPLY. In the Spring we will still have all of these factors plus THE SEASONAL EFFECT OF SPRING HOMES HITTING THE MARKET. THE BENINSON ASSOCIATES offer our clients an ABSORPTION RATE ANALYSIS that will tell you what YOUR COMPETITION IS IN YOUR SPECIFIC PRICE RANGE. With this information you can make an INTELLIGENT DECISION ON WETHER TO SELL YOUR HOUSE NOW OR NOT.

There is also something called THE CURRENT DEPRECIATION RATE. The housing market can do one of three things at any one time. It can appreciate which means that the price of homes is going up as time goes on. It can remain neutral which means that the price of a given home will be the same at any time during the year. Or it can do what it is doing now which is Depreciate. We are CURRENTLY DEPRECIATING AT A RATE OF ONE HALF OF ONE PERCENT PER MONTH. This means that THE VALUE OF YOUR HOME IS GOING DOWN AS EACH AND EVERY MONTH GOES BY.

YOU ALSO HAVE THE OPPORTUNITY TO RECOUP YOUR PERCIEVED LOSS ON SALE IF YOU ARE MOVING TO AN AREA OF THE COUNTRY THAT HAS BEEN HARDER HIT THAN THE NORTHEAST. In Florida, Arizona or Las Vegas, for instance you can buy homes for pennies on the dollar and the cost of living is lower as well.

So if you hear that you should Sell your Bethel, Ct Home in the Spring?! please tell them that you have a few ideas that just might change their minds. Also, if you happen to hear this from another Realtor please run away from them as fast as you can and call The Beninson Associates right away.

Beaware:Active Rain Addiction Day 6-State of Ct Law of Agency for Dummies

This is the sixth entry in a 30 day challenge to write informative content for thirty days in a row. I have blogged about "Holding a Productive Open House" and chronicled my search for wifi while on vacation complete with scenic pictures of course.

The State of Ct, when it comes to the Law of Agency, could be called "The State of confusion". We offer Exclusive right to represent both buyer or seller, dual agency representation to represent both buyer and seller, and designated representation where we designate another agent to represent the second party in a transaction that we are involved in. Finally, there is an unrepresented party agreement. Whew!!! One of these forms must be signed before any significant action is taken on a clients behalf. The most common is the Exclusive Right to Represent.

Exclusive Right to Represent (buyer or Seller)---we must act in a fiduciary capacity which means we will advise and consult, educate and guide, be involved in the decision making process and use our judgement and experience to assist you in either buying or selling. Representation gives you these benefits:

A. Obedience: To lawful instructions

B. Loyalty: We put your best interests before our own

C. Disclosure: Whatever we know...You know

D. Confidentiality: Our highest responsibilty when we represent you

E. Accountability : For your money and paperwork

F. Reasonable skill and care in all our affairs on your behalf.

When someone in our office has listed a property that our buyer might be interested in we must sign a "Dual Agency Agreement". You recall that at this point both parties would have already signed an Exclusive Right to Represent Agreement. Since, as agents of the brokerage, we have signed these agreements for the brokerage, we have a problem in that "we cannot serve two masters" at the same time. The dual agency agreement states that the brokerage firm must keep everyone's confidences and treat all parties to the transaction fairly. However, sometimes a buyer or seller wants to keep the original exclusive agreement and not enter a dual agency agreement. Therefore, the brokerage firm would now designate a broker from within the firm to represent the second party. These two agents would be extra careful to have no public discussions of the transaction(in or out of the office) that the other agent might over hear.

Finally, there is the unrepresented party agreement. This form is most commonly used at a Public Open House where the buyer doesn't know the Listing agent and might be reluctant to enter an exclusive right to represent agreement. Therefore this buyer would go forward knowing that he represents himself and that the listing agent represents the best interests of the seller only. Of course the agent still needs to treat the buyer fairly and honestly.

Well that was easy to understand wasn't it!!!!!!!My team, The Beninson Associates, realize that understanding agency might be a bit confusing to the general public because we know it is confusing to agents in general too!!! We offer a buyer counselling session, at our first meeting and before looking at any properties, where we discuss not only agency but the entire buying process and what to expect. We also offer a market analysis that describes the entire selling process and includes an agency discussion too. then, in the heat of negotiations, we don't have our clients(sellers or buyers) wondering whether we are representing them or not. Our goal is to have clients who are well informed, well advised and can take all the information and make a decision that is in their best interests.

In conclusion, we recommend meeting with an experienced agent, hopefully someone from The Beninson Associates, who will explain the entire process and be with you from start to finish as your trusted Real Estate Advisor. Our business depends on the referrals from satisfied clients and each year over 90% of our business comes from past or current clients who were kind enough to refer us.

PS I didn't have the heart to go into Exclusive Agency and Open listing Agreements(very uncommon) but would be happy to discuss those options with any perspective buyer or seller client too. They exist but are almost extinct.

Welcome to Lexington Meadows in Bethel, CT Luxury Townhomes

Lexington Meadows is a luxury townhome community just over the line from Danbury,CT in the small town of Bethel,CT.  This ‘Baker’ developed neighborhood of 2-3 bedroom townhomes offers a community pool & clubhouse.  The 115 townhomes offer conviences such as gas utilities, central air, walk in closets, lower level family room and 2 car garage. Lexington Meadows borders scenic Meckauer Park in Bethel & has easy access to I-84 as well as the charming Bethel village.