Come down to the parade route early and get your seat! The parade begins at Capitol Avenue by the State Capitol, takes a left on Main Street, a left on Asylum, a left on Ford Street, and then ends by the Memorial Arch. If you can not make it downtown, the parade will be broadcast live on CW 20 (beginning at 11:30a.m.) on Saturday March 9th, and will be replayed on Fox 61 on St Patrick’s Day, Sunday March 17th at noon. Please note, there will be some road closures along the parade route before the parade. Parking is available in … (2 comments)
dave jones realty: What Does Recent Price Reductions Mean to the CT Real Estate Market?
- 08/23/18 06:59 AM
Last week, in a new report from Zillow, it was revealed that there has been a rash of price reductions across the country. According to the report: There are more price cuts now than a year ago in over two-thirds of the nation’s largest metros About 14% of all listings had a price cut in June Since the beginning of the year, the share of listings with a price cut increased 1.2% This is the greatest January-to-June increase ever reported, and more than double the January-to-June increase last year Senior Economist Aaron Terrazas further explained: “A rising share of on-market listings are seeing price … (0 comments)
dave jones realty: Having Trouble Saving Enough For Your Down Payment in CT? Crowdfund it
- 08/22/18 06:42 AM
You read that right! First-time buyers in CT are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together prior to marriage and already have the necessary items to make a house a home…they just need the house! The average wedding in the United States has 120 guests who give wedding gifts valued, on average, at $186. This means that couples could walk away from … (0 comments)
dave jones realty: 5 CT Real Estate Reality TV Myths Explained
- 08/21/18 07:04 AM
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more all in one sitting. When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check. Reality TV Show Myths vs. Real Life: Myth #1: Buyers look at 3 homes and decide … (1 comments)
dave jones realty: The Net Worth of a CT Homeowner is 44x Greater Than A Renter
- 08/20/18 07:09 AM
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These numbers reveal that the net worth of a homeowner in CT is over 44 times greater than that of a renter. Owning a home in Connecticut is a great way to build family … (1 comments)
dave jones realty: The Cost of Waiting: CT Interest Rates
- 08/17/18 06:51 AM
Some Highlights: Interest rates in CT are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates in CT are still low right now – don’t wait until they hit 5% to start searching for your dream home!. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
dave jones realty: CT Housing Market: Another Gigantic Difference Between 2008 and 2018
- 08/16/18 06:33 AM
Some are attempting to compare the current housing market in CT to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis. However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the inventory of homes available for sale leading up to the 2008 crash.
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dave jones realty: Ct Homebuyers Would Sacrifice 'Must Haves' For Good School Districts
- 08/15/18 06:31 AM
It should come as no surprise that buying a home in a good school district is important to homebuyers in CT. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries. What is surprising, however, is that 78% of recent homebuyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts. The top feature sacrificed was a garage at 19%, followed closely by a large backyard, an updated kitchen, the desired number of bedrooms, and an outdoor living area. The full results … (0 comments)
dave jones realty: Have You Outgrown Your Ct Starter Home?
- 08/14/18 06:29 AM
For many CT residents, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs! According to CoreLogic’s latest Home Price Index, prices in the … (1 comments)
dave jones realty: Are You Thinking of Selling Your Home in CT? Competition is Coming!
- 08/13/18 06:44 AM
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May. How will this impact buyers? More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy: “The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief … (1 comments)
dave jones realty: Existing Home Sales in CT Are Cooling Off This Summer
- 08/10/18 06:54 AM
Some Highlights: According to the National Association of Realtors’ latest Existing Home Sales Report, sales in June were down 2.2% from last year. Inventory of homes in CT for sale showed a modest improvement of 0.5% over last year’s figures, but still remains under the 6-month supply needed for a normal market. NAR’s Chief Economist Lawrence Yun had this to say: “There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining. The root cause is without a doubt the severe housing shortage that … (0 comments)
dave jones realty: Supply & Demand Will Determine Future Home Values in CT
- 08/09/18 08:08 AM
Will home values in CT continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply … (0 comments)
dave jones realty: The Wave of Millennial Homebuyers in CT Continues to Swell
- 08/08/18 06:22 AM
Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream. Comparatively speaking, millennials in CT have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things. For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership is the next logical choice. According to the Urban Institute’s State of Millennial Housing, the probability of a millennial becoming … (1 comments)
dave jones realty: Owning Your Own Home in CT Can Help You Retire Sooner!
- 08/06/18 06:24 AM
In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.” Bach suggests that homebuyers should, “Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years.” How does he suggest you do this? Here’s the secret: “…If you were paying $1,000 a month, now you’re going to make $1,100 payments every month. Inform the bank that you are doing this and that you want the extra $100 a month to be applied to the … (0 comments)
dave jones realty: Home Buying Myths in CT Slayed
- 08/03/18 08:19 AM
Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
dave jones realty: Are Lending Standards Propping Up Home Prices in CT?
- 08/02/18 06:22 AM
Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say: “The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that would otherwise be unaffordable, and consequently their use could be adding to pressures in the housing market.” Greenspan was warning that the loosening of lending standards could lead to disaster. And it did. With CT home prices again appreciating at percentages well above historic norms, … (0 comments)
dave jones realty: Buying is Now 26.3% Cheaper Than Renting in CT
- 08/01/18 06:24 AM
The results of the latest Rent vs. Buy Report from Trulia show that homeownership in CT remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. Below is a map of the 100 metros that were studied. The darker the blue dot on the metro, the cheaper it is to buy there.
In order to calculate the true cost of renting vs. buying, Trulia includes all assumed renting costs, including one-time costs (like security deposits), and compares them to the monthly costs of owning a home (insurance, mortgage payments, taxes, and maintenance) including … (3 comments)
dave jones realty: The #1 Reason to Put Your House on The CT Market TODAY!
- 07/30/18 07:01 AM
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that CT home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true. The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for … (1 comments)
dave jones realty: Americans Rank Real Estate Best Investment for 5 Years Running!
- 07/30/18 06:55 AM
Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 5 years! The generations agree! Real estate is the best investment! Generation X leads the way with 37% believing in real estate as the top investment. Contact A Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
dave jones realty: 4 Reasons Why We Are Not Heading Towards Another Housing Bubble
- 07/30/18 06:51 AM
With CT home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that today’s CT market is quite different than the bubble market of twelve years ago. Here are four key metrics that will explain why: Home Prices Mortgage Standards Foreclosure Rates Housing Affordability 1. HOME PRICES IN CT There is no doubt that home prices have reached 2006 levels. However, after more than a decade, home prices in CT should be much higher based on inflation alone. Last week, CoreLogic reported that, “The inflation-adjusted U.S. … (0 comments)
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