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Connecticut Foreclosure Inventory Has Declined By 23%
Finally some good news for the Connecticut Housing Market.  Hartford Business.com reported earlier this week that the Connecticut Foreclosure Inventory Has Declined By 23% from the same time last year.
This is great news in many ways, but especially for Sellers.  One of the things that has caused the prices of homes to drop in Connecticut is foreclosures.
Even though most Appraisers will take into consideration if a recent sale was a foreclosure when they are putting their comps together, foreclosures still have an impact on lower the price a property will appraise at.  This ends up having a snowball effect not only in the price a property will be able to sell for, but also on a homeowners ability to refinance their property.
We still have to many foreclosed homes on the market, but this is a good step in the right direction in getting the Connecticut Housing Market health again.  Hopefully we will see more news like this, so the Connecticut Housing Market can get back to where it needs to be in 2017.
 
 
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George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in ... more

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