Stonington, CT

Usually CITI is a fairly smooth short sale, but this deal was not without it's fair share of excitement.

We were able to secure a buyer for the property in right around 60 days. SO we get all of our short sale documentation submitted to CITI, everything moving along smoothly, when all of a sudden the processor drops off the map. No return emails, phone calls nothing. After calling in EVERY day for 2 and a half weeks to try and find out what was going on, I was able to figure out the processor was on medical leave. A few days later, I finally got an auto response from the processors email stating that all her files were being reassigned.

So back in the saddle, we get our new processor and CITI can not locate the BPO. 2 MORE weeks go by, and they were able to locate it. Apparently, the person who the bpo had accidentially gotten sent to was on vacation. Grrrrrr.

File moves onto the negotiator, and the negotiator says that the system is telling her that it is more profitable for them to foreclose than approve the short sale. She doesn't understand why because the valuation is right in line with our sale price, so she sends the file to Freddie Mac for approval anyway, via a manual review, which takes up to 2 weeks.

But wait, THERE'S MORE! While waiting for Freddie approval, the buyer decides he has had enough and walks, despite me telling him it will only be another week or so. So we frantically get the property back on the market, to try and find a new buyer in an expedient fashion. Here comes the approval letter 1 week later! Sigh......

On a whim, I made a call to the buyers agent letting him know I had an approval letter with his buyers name on it..... AND THEY CAME BACK! Finally, we catch a break and successfully put this short sale in the books.

The Numbers:

Sale Price: $225,000

Allowed closing costs:$24,000 ( Citi and Freddie Mac allowed for the buyer to be credited $6,000 in closing costs from the net proceeds)!

Net to lender: $201,000

Principal balance: $270,000

Debt forgiven: $69,000

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The Connecticut Wine Trail: Ninth Stop

Our next stop after leaving Saltwater Vineyards, and our ninth stop overall on Connecticut’s wine trail, was Stonington Vineyards, situated on about 58 acres of vineyards that are just minutes away from Mystic Seaport, Foxwoods and Mohegan Sun casinos, and the beaches of Rhode Island.

The winery was constructed by owners Nick and Happy Smith in 1988 using state-of-the-art winemaking technology as well as traditional barrel fermenting methods, and it currently produces seven different wines, five whites, a rose’, and a red. The wine cellars are built into the hillside so that its floor is below grade, ensuring stable cellar temperatures. The winery’s winemaker, Mike McAndrew, follows he French Burgundian winemaking methods, producing fine, European-style wines aged in both French and American oak.

Having already tasted some Stonington Vineyards wines at a friend’s house, we were highly anticipating our visit, and we were not disappointed. The first wine we tried was the 2007 “Sheer” Chardonnay, which is not aged in barrels, allowing the pure, unmasked flavor of the wine to shine through with flavors of ripe apple, mineral and yeast. Next was the 2008 Chardonnay, fermented and aged in oak up to a year. It was more refined than the Sheer Chardonnay, displaying a clean apple character and subtle notes of vanilla on the nose. Our next tasting was the 2008 Vidal Blanc, which is fermented in stainless steel and aged in neutral oak barrels for 8 months. There was no doubt that this was a fully dry wine, with citrusy flavors, but it was not one of our favorite wines.

The next two wines turned out to be the stars of the show, hands down. The Seaport White is a proprietary blend that was juicy, refreshing, and extremely easy to drink. It was in an off-dry style, but could have passed for just about any semi-sweet Riesling that we’ve ever had, it was that good. In fact, of all the wines we have tasted up to this point, we would have to rate this one of the very best. Served well chilled, it would be equally at home with a variety of foods or just sipped on the porch on a hot Summer day. The next wine was a real Riesling, and was only a notch below the Seaport White in drinkability. Hand-picked last October, it was cold fermented in stainless steel and displays a delicate balance of pineapple, grapefruit and apricots. One thing about this wine is it is bottled in 500ml bottles, instead of the customary 750ml bottles. This made no difference to us, however, as we ended up buying a bottle of it, as well as a bottle of Seaport White.

The final two wines were the Triad Rose’, a blend of Cabernet Franc, Vidal Blanc and Chardonnay which gave the wine a peculiarly fruity but spicy flavor; and the Cabernet Franc, which was dry with aromas of berries and currants and hints of tobacco and leather. Although we believe they would be very good wines with food, they were rather harsh by themselves and therefore were not among our favorites.

After the wine tasting, we were treated to a tour of their winemaking facilities, and some people were convinced they saw Jesse James amongst the wine storage tanks! Judge for yourself:

Stonington Vineyards is located at 523 Taugwonk Road in Stonington. The tasting room is open year round, seven days a week from 11 AM to 5 PM. If you’re ever in the Stonington, CT area, Stonington Vineyards should be high on your list of places to visit for an afternoon. Bring a picnic lunch and they’ll supply the nicely chilled wine!

The Connecticut Wine Trail: Eighth Stop

Make note of this address: 349 Elm Street. Stonington, CT.

Our eighth stop on Connecticut’s Wine Trail is located at this picturesque address, on 100 or so acres of tranquility bordering tidal marshes, a cove and Long Island Sound. The first thing that strikes you as you pull into the parking lot is that the building looks uncannily like a World War II aircraft hangar – because that’s what it is. Preserved and converted into a winery, the building is the natural centerpiece of the property, and it opens out onto a stone terrace, with the vineyards stretching off into views of the Sound in the distance.

We were greeted in the atrium by the tasting room manager, Paul, who directed us up the wide staircase to the tasting room. Located on the second level of the hangar, it was very bright and airy, and everything was clean and state-of-the-art. We tasted four wines: a Merlot, a Chardonnay, a Cabernet Franc and a Sauvignon Blanc. The merlot was bigger than most merlots we’ve had, with a lot of tannins and acidity. The chardonnay was probably the best of the four, very light and clean, rather dry but an all-around excellent wine. The cabernet franc was lighter and brighter than the merlot, with lots of cherry flavors and a hint of mocha and vanilla. Finally, the sauvignon blanc was very minerally and dry, with lots of citrus on the palate. Very light and dry, but a great example of the varietal.

This winery runs a close second as the most visually appealing location we’ve visited, after Wallingford’s Gouveia Vineyards. The views of the vines, the marshes and the Sound are gorgeous, relaxing, and not to be missed. A fine afternoon could be spent with good friends and a bottle of their chilled Chardonnay out on the stone patio. This is one place we will surely return to in the near future!

Saltwater Farm Vineyard is located at 349 Elm Street in Stonington (like I said, remember that address!). The tasting room is open February through December; on Wednesday and Thursday from 11 AM to 5 PM, and Friday, Saturday and Sunday from 11 AM to 3 PM. If you have a chance to get to the Stonington area, we highly recommend a stop at this fabulous winery!

Watch closely for Wamphassuc Point Rd as it is easily missed when traveling between the Stonington Borough and Mystic. The community is distinguished by an old country road lined with rock walls. Very few of the 83 residences can be seen through the trees offering its owners privacy and a sanctuary from the hustle and bustle located so near. Take a left onto East Neck Rd and you will find large homes with immaculate landscaping on oversized lots. Few homes in this community are offered up for sale as they are passed down through generations. To fully appreciate this serene lifestyle you must view the East and West shore from the water.

East Neck Rd

East Shore

West Shore

East Shore - View from Stoningtton Harbor

Mason's Island offers a lifestyle and sense of community that is unparalleled to most communities in the country. The island is approximately 1.2 miles in length from North - South and .8 miles in width from East - West, making it the largest island in the state of CT. Located just minutes from Historic Downtown Mystic, where the sea, country, and casinos blend together in a tapestry of New England charm. Masons Island is your retreat and sanctuary from shopping, eating at exquisite restaurants, and enjoying the hustle and bustle of the Mystic Aquarium and Old Seaport.

After a long enjoyable day, simply cross the causeway adjacent to Schaffer's Marina and slip into a world that most locals outside of Mystic do not know exists. This private, gated island offers boating, swimming, kayaking, crabbing, clamming, and miles of serene roads perfect for an early morning jog or a walk after a day on the water.

This is a place where time seems to have stood still and a sense of wholesomeness is extended every time you pass a fellow resident and greeted with an honest smile and a tip of the hat.

Mason's Island is governed by the Mason's Island Property Owners Association, Inc.