Connecticut

This commercial property at 965 South Main Street in Waterbury, CT is ready for occupancy. Professional, Commercial, and Retail uses available. Plenty of off-street parking. 21,000 square feet with 3,000 square feet available to build to suit.

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“Romney Speaks to Housing and Mortgages”

Mitt Romney is sounding more like the Republican nominee. He at least is speaking to the heart of the problems, jobs and over regulation is hurting any chances for a housing recovery.

Look, all of the candidates on the Republican side have their good points and not so good, but the alternative continues to hurt our economy with regulations that continue to stall any chance for a recovery.

You can’t tell me, that the publicized unemployment rate of 8.3%, which is really double, and a national deficit that continues to spiral out of hand is acceptable to anyone? If these issues are acceptable to you, we are all in deep trouble!

Romney Shifts Message on Housing, Mortgages

By Kevin Wack

After months of stating that the housing market needs to bottom out in order to hasten an economic recovery, Republican presidential front-runner Mitt Romney shifted to a more proactive message on housing during a weekend campaign appearance.

Speaking at a town hall meeting Saturday in Dayton, Ohio, Romney called on banks to grant more loan modifications. He blamed the federal government for taking steps that deter the private sector from modifying loans to borrowers who owe more than their homes are worth.

"Don't put the home into foreclosure if those people are able to stay in the home and meet those obligations," Romney said. "That's something which a lot of small banks don't feel they can do because they're frightened with Dodd-Frank, and they're frightened whether the regulators, or the inspectors, are going to come in and punish them for having renegotiated those loans."

"I want more flexibility, not less, so we can keep people in homes that can make reasonable payments," he continued.

Of the many criticisms that Republicans have made of the Dodd-Frank Act, the idea that the 2010 law is discouraging banks from modifying mortgages is a new one.

Romney did not explain why Dodd-Frank is to blame. He also did not point out that the Obama administration makes incentive payments to banks that grant modifications.

The former Massachusetts governor's remarks represented a shift in emphasis on housing. In the past, Romney has stated that the federal government should let the market hit bottom, and argued that government programs to aid homeowners are lengthening the pain.

Romney has also been noting that the housing sector is tied to the health of the broader U.S. economy, and he hit that theme again Saturday.

"The right way to get the housing market going is to have people working again," Romney said.

In other remarks, Romney vowed to repeal the Sarbanes-Oxley Act of 2002, which he had previously promised only to pare back.

Sarbanes-Oxley, passed in the wake of accounting scandals at Enron and other companies, required companies to make more disclosures related to financial transactions.

Fellow GOP presidential candidates Newt Gingrich and Ron Paul called for the repeal of Sarbanes-Oxley before Romney did. In an economic plan released last year, Romney supported a partial repeal to reduce burdens on mid-size companies.

But when Romney was asked Saturday whether he supports the law's repeal, he responded, "Yes. There's a direct answer."

Romney went on to decry the impact of both Sarbanes-Oxley and Dodd-Frank. "These legislative monsters that have been created kill jobs," he said.

He also argued that community banks, unlike large Wall Street banks, do not have the resources to cope with the burdens of Dodd-Frank.

Romney recalled speaking to a banker at a big money-center bank who said that the institution has hundreds of lawyers working on Dodd-Frank implementation.

"Now guess how many community banks have hundreds of lawyers? None of them," Romney said. "Community banks can't possibly have that kind of legal help. And so they struggle along, they pull back from making loans. So after Dodd-Frank, guess what's happening? Bigger banks are getting bigger. Smaller banks are pulling back."

image: thephotoholic/freedigitalphotos.net

SOUTHBURY CT-REAL ESTATE MARKET REPORT for FEBRUARY 2012

Southbury CT-Real Estate Market Report for February 2012 A slight increase in the volume of home sales in Southbury CT, coupled with a decline in average sales prices compared to both last month and last year, is great news for buyers looking for a home in Southbury. The number of pending sales at this point does not indicate a robust market over the next few months; however, the spring selling season is right around the corner, and the market history in Southbury says that usually the market picks up in terms of volume of sales between April and October. Sellers, if you are looking to capitalize on this, the best thing you can do is to price your homes at market value so that they can sell.

There are 104Southbury CT homes for sale

• Average asking price of $436,362

• Median asking price of $385,000

• 15 pending sales (under contract):
• Average asking price of $364,733
• Median asking price of $319,900

6 homes were sold in Southbury CT in the month of February

• average sale price of $338,667
• Median sale price of $357,500
• By comparison, in February 2011, 2 homes were sold in Southbury CT;both average and median sale price of $390,000

These are the six homes that sold in the Southbury CT area in the month of February:

Click on Southbury CT Real Estate - Market Updatesto see prior Southbury CT market reports.

Looking to relocate to Southbury CT? Visit Looking For A Reason to Move-Destination: Southbury CT

Are you looking for a home in Southbury CT? Click onSouthbury CT homes for saleto find homes in your price range.

For further information about the Southbury CT market and to determine if this is the right time to sell, call me at (203) 558-7463 to receive a free home evaluation and a list of tips that will help you prepare your home for sale. I look forward to discussing with you Southbury CT homes for sale.

©William James Walton, Sr. Market Report data provided by CTMLS. All data reported is accurate but not guaranteed at time of publication.

You are invited to attend an informative session on short sales presented by the Urban League of Southern Connecticut on March 24th from 10:00am - noon.

Here are a few questions to consider: Have you exhausted all of your refinance or loan modification options? Thinking about a short sale to address your mortgage delinquency? Do you understand the short sale process?

A short sale is a sale of real estate property in which the proceeds from selling the property will fall short of the amount owed to the lender and the owner can not repay the full amount. With the proper criteria and qualifications you are able to request that the lender agree to release you from the loan amount and accept less than what is owed on the debt. Any unpaid balance owed to the lender is called a "deficiency". Short sale agreements do not necessarily release borrowers from their obligation to repay the deficiency, unless agreed upon between both parties.

A short sales is a great alternative to a foreclosure, because it saves valuable points on your credit score.

Thinking about your options? Join us and learn if a short sale makes sense for you. At the session you will be able to meet with a certified HUD counselor, obtain legal advice from a real estate lawyer, speak with an accountant and meet me to discuss the shot sale process from a real estate point of view.

If interested, please register to reserve your seat today! phone:203-327-5810 or e:mail housing@ulsc.org

Looking forward to seeing you. Or if you know someone with an interest, please feel free to share this Short Sale - Stamford event invitation with them!

Sometimes you just have to Shake your Head . . . . Monday Humor

It takes all kinds of people to make life work, some are leaders, some are followers, and some are just ......

I was sent an email with some photos of signs, these just make your head nod and wonder:

Must be because they don't see very much?

Very considerate to not want anything to pop out unexpectedly.

With a special appearance by the Walker Brothers, Red and Black

At least they can't say you weren't warned!

Awwwww, now you went and done it, somebody is going to get mad.

No secret here as to what they thought was the bigger problem.

I guess the bridge being out wasn't as important (small print)

Sometimes you just have to shake your head