New Milford, CT

Market Watch New Milford CT, Real Estate Sales New Milford, CT

Things seem to be improving in the New Milford CT real estate market! We are busier and the numbers prove it. It is still a buyers market. The absorption rate (how long it will take to sell what is currently on the market) is 14 months. This shows an improvement over last year. I calculated the rate just about a year ago, it was almost 28 months at that time. 6 months is considered a balanced market, under 6 months is a sellers market, over 6 months is a buyers market. We are still in a buyers market here in New Milford, CT real estate market.

As I write this there are currently 216 single family homes for sale in New Milford, CT real estate market. The average list price of these homes is $482,845. The average market time is 152 days. Highest list price: $ 5,900,000, Lowest list price: $84,900.

Of these active listings, 20 are under deposit, average list price of these is $292,356, average market time is 133 days.

Currently there are 17 homes in a pending status, awaiting closing. The average list price of these homes is $392,735, average market time is 119.

What does this mean if you are selling? In the greater New Milford CT real estate market you must price it right. Buyers are savvy, lenders are not apt to let them overpay. Call me for a market analysis of your property.

If you are buying? You have some good choices, rates are STILL low, if you act quickly you can still get in on the tax credit. Call me, I will be happy to discuss your options with you. Join me February 23, 2010 for a home buyers seminar. Rod Moore from Flagstar Bank will be there to discuss mortgage options, I will be there to discuss the buying process and the current real estate market in the greater New Milford, CT area.

All statistical information provided by the Greater Fairfield County Multiple Listing Service (CMLS). Information provided deemed to be reliable, but not guaranteed.

Overloaded with books in New Milford Connecticut? Help yourself and help the New Milford Public Library in New Milford, CT.

The Friends of New Milford Library of New Milford, CT are at it again, helping the library and helping us to clean out our homes. They are accepting donations of books for their Friends of New Milford Library Book Sale.

They are accepting books that are in good or better condition and clean. They are also taking VHS tapes, CD's, DVD's, computer games and cassettes that are in working order! (Now you know what to do with all those VHS tapes!) Also, textbooks that are dated 2004 or newer.

They are NOT accepting Encyclopedias, Readers Digest Condensed Books, Records, Magazines, books on computers and software, text books dated 2003 or earlier or albums (records). Also, check your books, if they smell musty, moldy or mildewy, are written in, have torn and ripped pages or hi-lighted, they cannot accept them.

If you have a large quantity of books they can even arrange for pickup! You can contact them at 860.350.4657.

Not only can you clean out your home (especially those of you who have your home on the market and are planning on moving and are overwhelmed by books, old VHS tapes, etc) this is a great way to help out the New Milford Public Library in New Milford, CT.

Fun historical fact about the New Milford CT library. The very first library in New Milford, CT was established in 1796 and had 350 volumes. The library was housed in the homes of "public spirited citizens" and was only open 5 days per year. It was called "Union Library". (I wonder what the fees were for overdue books if they were only open 5 days per year, or did they have drop boxes?)

Help yourself, help the New Milford Public Library in New Milford Connecticut and donate those old books, VHS tapes and more!

Home Buyers Seminar in New Milford, CT. Come and learn about getting a mortgage and buying a home in the greater New Milford, CT area.

Rod Moore, Senior Loan Officer of Flagstar Bank will be here to discuss which mortgage product may be available to you and answer questions you might have about the mortgage process. Andrea Swiedler, Realtor® with Prudential Adams & Associates, REALTORS, of New Milford, CT will be there to tell you how the home buying process works and answer questions you may have about the current market conditions and buying a home. Andrea will also discuss the pros and cons of purchasing short sales and foreclosures.

One of the great products Rod is going to talk about is the Guaranteed Rural Housing Mortgage, a 30 year fixed rate mortgage guaranteed by the U.S.D.A. (United States Department of Agriculture). This is a great loan product and NOT just for first time home buyers! There is NO MORTGAGE INSURANCE , no limit on seller contributions, no cash reserves or cash contribution required, a one time 2% guarantee fee which can be financed, flexible credit standards. This is for single family homes and approved condominiums. Rod will also discuss, as time allows, other loan products that you may be interested in or qualify for.

(I have clients that have used the USDA loan, it was a smooth deal, great rates, they couldn't be happier!)

Remember, there is not much time left to take advantage of the extended tax credit for home buyers. Indications say that now is the time to purchase before interest rates rise and the tax credit expires. To be considered eligible for the first time home buyer tax credit you need to be in contract by April 30, 2010 and close on the home by June 30, 2010. Current home owners may be eligible for a $6,500 tax credit when purchasing a new home by the same dates. You can read the IRS guidelines here. Indications are that the interest rates will rise again, perhaps as early as April 2010. Now is the time if you are considering buying a home!

HOME BUYERS SEMINAR, GREATER NEW MILFORD, CT AREA

Date: February 23, 2010 at 7:00 - 8:00 pm.

(Snow date, Thursday February 25, 2010, same time)

Location: Prudential Adams & Associates, REALTORS
337 Danbury Road, New Milford, CT 06776

Hosted by: Andrea Swiedler, Realtor® of Prudential Adams & Associates and Rod Moore, Senior Loan Officer with Flagstar Bank.

Please RSVP to Andrea Swiedler at 860.355.2646, extension 19.

I hope to see you there!

Doctor Electric still makes house calls! Thank goodness for that, cuz I am a certified elecri-phobe! Really, it's true, Doctor Electric of New Milford, CT will make house calls for whatever ails the electrical systems in your home. Doctor Electric is a full service, fully licensed electrical contracting company serving most communities in Litchfield County and Northern Fairfield County in Connecticut . Doctor Electric is extremely reliable, has years of quality service backing their reputation. Doctor Electric is independently owned and operated by Michael Fairclough. I personally think Mike Fairclough IS Doctor Electric and he is committed to a highest level of customer service.

Electrical stuff makes me cringe, I am an electri-phobe. If you start telling me about problems with electrical systems I get all sick to my stomach, weak in my knees. I have an almost unnatural fear of electricity. A breaker box can send me into a total tizzy! A few years ago I needed my house rewired. I was thinking perhaps I should move instead, but Mike Fairclough from Doctor Electric took care of everything. Bing bang boom the house was rewired, I lived through the ordeal and was able to use my blow dryer and have the microwave on at the same time. It was a miracle!

The other day we had a monsoon here in CT, or close to it. The wind was whipping, the rain was coming down sideways. I called Doctor Electric to see if they could check out a listing I have. I found out the electrical box outside was loose and I was very worried rain would get in to the box and create a problem, or the wind would blow the cover off. Within an hour Mike Fairclough of Doctor Electric was there, standing in the pouring rain, checking out the entire house, inside and out. Me? I was wearing a rubberized suit, on the ready to run just in case. Electricity scares me to death. (And the good doctor didn't even make fun of me!)

After only a few hours I had a detailed estimate in my email inbox! The major part of the work has been finished, the meter box is new, the whole system is new actually. And it was done the right way, a permit was pulled at the town hall, and the building inspector will be coming to the house next week to sign off on the work. Mike Fairclough of Doctor Electric rocks, no doubt in my mind. My client is happy, I am happy, things are good! I can put away the rubberized suit for a bit.

So if you live in New Milford, CT or surrounding towns and you need electrical work done from general wiring, building a custom home, pools, outdoor lighting, or whatever your electrical needs are, do not hesitate to call Doctor Electric at 860.350.1980.

Doctor Electric services New Fairfield, Bethel, Brookfield, Danbury, Bridewater, Kent, New Milford, Newtown, Redding, Ridgefield, Roxbury, Sherman, Southbury, Washington, Weston, Easton, Wilton and MORE! Give them a call, you might even be lucky enough to talk to Diane, who runs the office!

It is still a buyers market in New Milford, CT. Listing your home for sale.

This is a buyers market in New Milford, CT, no doubt about it. As a result it is imperative that your home be ready to sell. Before you sell you should be aware of what issues may prevent the sale of your home, or prevent you from getting the best price possible. You see your home one way, a buyer sees it in another light, and you can take that to the bank... (or not).

With current market trends curb appeal is very important, clearing the clutter is mandatory and issues or potential issues should be addressed prior to placing your home on the market. Lenders are reading the disclosures and listings, they are also reading the inspectors reports. Have you done renovations yourself? Did you get the proper permits as needed?

You may have owned your home for a few years and not even realized there is an open building permit at the town hall for work started by the prior owner. This can really cause problems for you if you wait until you have a buyer for your home.

Your Realtor® should be checking for potential issues at the town hall. Don't hold your breath and hope no one notices. Someone will notice and it will cost you in the end. Cost you $$, cost you the sale, cost you in many ways.

You may not have the money to hire an inspector, and with the economic climate this is understandable. But you can eyeball a few things and point them out to your Realtor® as they walk around your property with you getting ready to list your home. This will NOT replace a full inspection, but it may bring to light some obvious issues you need to think about. If you can hire an inspector pre-listing, even better!

Some very common issues that pop up today are:

• No permits or CO's for decks or additions.
• No permit for roofing, etc.(Check your building department and see what is there, or not there that should be there!)
  
• Decks improperly built. If you are able to walk under your deck, do so and LOOK UP. Are there joist hangers? Is the deck bolted to the house? Of course standards change, and your deck may have been built with older standards, but if there are apparent structural issues, if the wood is rotting, if the deck wobbles, if the railings are loose it will be a problem.
• Electrical issues. I have an unnatural fear of electricity, looking inside a box gives me instant stomach churn. However I know enough that if I see exposed wires or a rusty box there may be bigger problems. And if you can't turn on the hair dryer and the microwave without tripping the circuit breakers then you already know you have a problem. And if you don't even have circuit breakers, this will be an issue too.
• How about your roof? If there are 3 layers of shingle on your roof that is it, the next time all that has to come off and it will cost big bucks. Are the shingles loose? Are they looking old and worn? And more importantly, does your roof leak? If you can get upstairs to your attic, look up! Are there water stains on the underside of the roof?
• Clogged gutters, missing gutters, loose gutters. This is not only unsightly but it can cause so many problems.
• Is your basement wet? Does it get wet on a regular basis? Address the issue!
• Check your home with your nose! Pet smells will deter buyers, a mildewy smell will raise a red flag. Mold is a big problem for homes. Find out what is going on. If you see a bit of mold on the outside of the wall you may have a far larger problem behind the walls. A note, please don't try to attack this yourself, mold spores are very small and will spew into the air and travel all around the house!
  
• If you are on well water, take a water sample down to be tested. There are many places that do this testing and they will tell you how to pull the water for the test.
• On the well issue, look at your well head cover, if it is close to the ground that may not fly. Is the cover cracked? Broken?
• When was the last time you had your septic pumped? In older systems I find a big problem is there is no riser installed, the opening is buried beneath current standards. Since 2000, no matter how old your system is, access to the tank for clean-out cannot be more than 12 inches below the surface of the ground. If it is, risers must be installed.
• How does your heating system function? Do you get your furnace/boiler cleaned regularly? Have it cleaned and checked. Buyers and agents check the side of the furnace/boiler for information telling how regularly it has been serviced. Something that looks like it came out of the dark ages will scare the pants off a buyer!
• If you still have an in ground oil tank this will stop a sale dead in its tracks. This is something that must be addressed, speak to your Realtor® immediately for solutions to handle this issue if you don't have the resources to pull the tank right away.
  
• Check under your sinks for leaks. If the cabinets are moist, if there are stains on the wood get it addressed!

Remember, you are not a licensed home inspector, electrician, carpenter, plumber or septic installer. But you and your Realtor® certainly can look around for potential issues before you put the house on the market. And sometimes you just know there is something wrong. Face it head on, don't put your head in the sand!

As I said, it is a buyers market in New Milford, CT. Not only does your home need to look good visually, it needs to be in good "working order". And if you can't address some of the issues you know about, make sure you price it accordingly and that you disclose issues up front.