CT HOME TEAM January 2008 Connecting Sellers with Buyers, one "Click" at a Time How to Handle Low Ball Offers If your house has been on the market for quite a while, you may have already dropped your price and now you're waiting for the buyers to rush in and make wonderful offers on this now-priced right property. And then it happens. The lone buyer does appear, like a bandit in the night and offers you even less than what you just agreed to. Quite a bit less -- about 10 percent less. So on your $350,000 house, that you just dropped to $324,000, you now have an offer for $299,000. With a seller subsidy request of $5,000. At this point, your net is $294,000. So how do you handle such a low-ball offer. Well, first of all -- don't panic, get angry or lose sleep. Especially, don't reject the offer right off the bat and tell them to come back when they're serious. Remember, it's now a negotiation game and the buyer IS serious or he or she would not have made an offer. Several things have happened before this offer came in. The buyer, with more> Find Out What Your Home Is Worth! Mortgage Rates as of December 27, 2007: 30 yr. fixed: 6.17 15 yr. fixed: 5.79 1 yr. adj: 5.53 Source: Realty Times Investor Outlook If you're what's known as an "opportunity investor" in real estate, looks like your prime time may be now ... or very soon. Economists say the next 12 to 18 months could be your best period since the early 1990s to pick up property at depressed prices -- discount diamonds in the rough and turnaround situations. That's because the real estate downcycle is close to running its course in many local markets, where prices today are 10 to 25 percent below their peak levels of two and three years ago. Serious investors understand that real estate is an all-weather, cyclical business: When times are tough for some owners, the opposite is true for investors with the knowledge, negotiating skills and vision to help distressed owners out of their jams. We recently caught up with economist and real estate consultant Jack McCabe of Deerfield Beach, Florida -- just up the coast from Miami Beach. McCabe's company advises opportunity investors who are now buying waterfront and inland condo units and single family houses at 30 to 40 percent discounts off last year's pricing. "If you're going to be in the game," according to McCabe, "you've got more> Keeping Your Credit Clean Many homebuyers frequently wonder, "If I am shopping for a home loan will my credit be affected each time a credit report inquiry is made?" It's a logical and intelligent question to ask; the answer is: not significantly, if the credit checks are done in a short period of time. When a credit check is made by a potential lender it is called a hard inquiry. When a hard inquiry occurs it does more> Wondering What Your Home Is Worth? Let us show you. Market Conditions for Milford, Woodbridge, Orange, Bethany and Westville Daily News and Advice Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday. This Month's Featured Articles: Existing Home Sales To Trend Upward in 2008, Says NAR Gutter Cleaning Robot Honored Reducing Utility Costs Doesn't Have to be High-Energy Task Landlord Beware: Advice to Protect You and Your Investment CT HOME TEAM info@CtHomeTeam.com CTHomeTeam.com (203) 415-6388 CELL - Kim Busk (203) 906-2549 CELL - Donna Springer CT HOME TEAM Coldwell Banker Residential Brokerage 270 Amity Rd Woodbridge CT 06525 (203) 392-3328 Equal Housing Opportunity
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The garden Club in Orange CT presents "Proper Pruning Techniques" by Master Gardener Kevin Wasilewski, at the Case Memorial Library at 1:00pm. A luncheon will be served at 11:30 followed by the clubs business. Members of the club will exhibit forced branches and bulbs and potted plants.

I will put this date on my calendar as I have ordered 34 Apple trees for this spring from Adams County Nursery in Pennsylvania as well as Cherry Trees, Peach, Prune and Apricot. Let's just hope they survive the deer in the yard let alone my pruning technique. From Nourse Farm in Massachusetts I have ordered Blueberry bushes, raspberry and blackberry and black raspberries, and I'm hoping if I plant enough the birds will save some for me.

This week in Bethany,CT

Congratulations go out to the Bethany Wanderers for their 25 years dedicated to exploring the beauty of Bethany,CT This group, which was founded by two friends, Barrie Tait Collins and Ann Childs has grown over the years thanks to their love of walking and Bethany's abundance of open spaces and parks including West Rock Ridge State Park, Quinnipiac Trail, The Naugatuck State Forest and Regional Water Authority Trails.. The club is open to anyone and dues are $5 To join call 303-1385. - So get up move away from your computer and start enjoying the pristine beauty around you!

Another great place to visit is the Yale Observatory on Hilldale Rd in Bethany,CT. Visit the Astronomical Society of New Haven's website for more info and a calendar of events. http://www.asnh.org/Calendar/directionsIndex.php

This week in Orange, CT

Town residents were out in numbers to attend this week's meeting to express their concerns over a proposed age- restricted 63 unit development that would be built on a landfill near wetlands. This development will be located behind the town transfer station. Concerns over building on a landfill were voiced by both residents and town officials.. Clem Evangeliste said "Residents are concerned that when construction occurs contaminants may be disturbed endangering resident who live nearby" To find out more about this and other local news visit

State Elected Officals to visit Orange Senior Center on January 29th -- The Orange Senior center will host a visit from State Senator Gayle Slossberg and State Reps Paul Davis and Themis Klaride on January 29^th at 11 am. These government officials will be there to give you an update on legislation that affects seniors such as care giving in the home, long term care insurance etc. My personal question is why these reps saw fit to tack on a "Private Pay Tax" to all who pay out of their own funds for nursing home care. This additional tax depletes payers hard earned monies even faster and forces them to place the ones that are receiving nursing home care on Title 19 (Medicaid) even sooner! From my own experience with Connecticut Nursing Homes, the average monthly cost was around $9,000-11,000 a month . And the worst part is this tax money does necessarily go to the nursing home your loved one is in but to the ones in the most financial straits... So here is a chance to voice your concerns- and to put faces on the issues they vote on.

Performing Arts grants awarded to two Orange Schools -The Connecticut Commission on Culture and Tourism awarded grants to two PTA organizations in Orange,CT - Racebrook Elementary and Turkey Hill PTA/PTOs were awarded $855 and $383 respectively to support performing arts programs.

Absorption Rates As of January 2007 For Milford CT (1/10/07)

Current Active Listings: 232 (36.2 Sold Per Month)

Number of Sold Last 6 Months: 220 (36.7 Sold Per Month)

Number Sold Last 3 Months: 96 (32.0 Sold Per Month)

Current # of Months Inventory: 7.2

To see a full Market Report for the year 2007 please visit our web site MilfordCTShoreline.com