West Hartford Hot Spot

HOME PRICES SHOW HIGHEST ANNUAL GROWTH RATES SINCE MAY, 2006!

Thu, 02 May 2013 21:14:14 -0700

HOME PRICES SHOW HIGHEST ANNUAL GROWTH RATES SINCE MAY 2006!

S&P/Case Schiller released its Home Price Indices on Tuesday, and the news couldn't be better. After several sluggish years of real estate sales and price declines, home sales across the country posted average price increases of 8.6% - 9.3% for the 10- and 20-City Composites as of February, 2013. This is the highest annual growth rate since May, 2006-- that's 7 years!! According to the report, all 20 cities covered by the indices posted year-over-year increases for at least two consecutive months.

Amid mixed economic reports in March, this is great news and housing continues to be one of the brighter spots in the economy.

Home prices in the West Hartford area continue to increase as well. Low inventory and pent up buyer demand are creating multiple offer situations for the best homes in West Hartford. In fact, 15 of the 54 closed sales in April, 2013 resulted in a sale price at or above the list price-- that's 27%! We haven't seen that pace in awhile!

The biggest challenge is finding homes for sale. If you're thinking of selling (or know someone who is), let's start the conversation.

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

5 Sure Signs that the West Hartford Real Estate Market has Shifted!

Thu, 25 Apr 2013 12:17:29 -0700

5 Sure Signs that the West Hartford Real Estate Market has Shifted!

With the spring real estate market in full swing, there are five indicators that West Hartford is shifting to a seller's market:

Closed Sales. The first quarter of 2013 has seen a 22.5% increase in the number of single family homes sold in West Hartford when compared to the same time period last year (93 closed sales vs. 114 closed sales in 2012).
Average Sales Price. In West Hartford, 1st quarter sales posted a 3.15% increase in average sales price over 1st quarter 2012. The average sales price for a 3-bedroom, 2-bath, 2000 square foot home is $315,493 vs. $305,860 last year.
Average Days on Market. Days on market for single family homes in town have shifted dramatically, down from an average of 91 days to 69 days on market during January through March, 2013. This 31% decrease in days on market is significant and has been impacted by many multiple offer situations which have occurred this spring, especially for homes near West Hartford Center. In fact, 44% of homes located within a mile of the Center went under contract in 3 weeks or less during the 1st quarter of 2013!
Average Dollars Per Square Foot. Although $/sq. ft. is one of many factors to consider when pricing a home, it is on a positive trend in West Hartford-- $156.31 in 1st Quarter 2013 vs. $150.24 in 1st Quarter 2012. This is line with the upward trend in average sales price.
Average Sales Price/List Price Ratio. The average sales price to list price ratio is also up (1.96%) over 2013. Sellers have been netting 97.16% of their list price during the first three months of 2013.

As housing inventory in West Hartford and mortgage rates remain low overall, the shift toward a seller's market is clear. Buyers who have been "on the fence" should give serious thought to making a move now, and timing is perfect for sellers who have been waiting for the market to improve. West Hartford remains a destination for many, with great neighborhoods, schools, shopping, dining and diversity.

Questions about what's happening in your neighborhood? Contact Laurie at (860) 212-8305 or lauriemurray@kw.com.

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Charming Expanded Cape for Sale in West Hartford Center!

Thu, 11 Apr 2013 14:07:15 -0700

Charming Expanded Cape Style Home Just a Short Walk to West Hartford Center!

Search current inventory of West Hartford Center Homes

Listing Details

Charming Expanded Cape Style Home Just a Short Walk to West Hartford Center!

83 Meadowbrook Road, West Hartford, CT 06107

Price: $399,900

MLS Number: G647138

Bedrooms: 3

Bathrooms: 2.1

Square Footage: 2,155

Call Laurie Murray at (860) 212-8305 to see if this property is still available and arrange a showing.

You Will Love the "Walkability" of this West Hartford Center Neighborhood!

One of the most desirable features of West Hartford is it's walkable Center. Homes near the Center with the greatest "walkability" have become extremely popular, and it doesn't get any better than 83 Meadowbrook Road, West Hartford! This quiet neighborhood is tucked away but just a short stroll (2 blocks!) to West Hartford Center & Blue Back Square. The home itself is gorgeous; built in 1937, it features all the charm of yesteryear with the updates and comforts that buyers today are seeking. With over 2,100 square feet, the house is much larger than you'd expect from the street view. A kitchen addition in the rear of the home features granite countertops, stainless steel appliances and a center island with plenty of work space. It opens to the 1st floor family room which is a comfortable space for relaxing indoors. There is also a spacious deck off the kitchen with a custom awning and cable/electric outlets which is perfect for warm-weather entertaining. The master suite is expansive (19' x 14') with cathedral ceiling, full bath with jacuzzi tub and walk-in closet. Two additional bedrooms are on the 2nd floor. The grounds are expertly landscaped with loads of perennials and a custom designed paver walkway/sitting area. There is natural gas heat, central air conditioning, and all mechanicals have been updated-- there's even a brand new generator that automatically connects when the power goes out. The walk out lower level offers opportunity for expansion. Stroll to Whole Foods, New York Sports Club, Noah Webster Public Library, Bow Tie Cinemas and tons of restaurants and unique shops which comprise West Hartford Center. This is truly a unique West Hartford home!

Amazing Gourmet Kitchen

Click here to see additional images of this charming West Hartford Center Home!

About West Hartford Center

West Hartford Center, located in just outside of Hartford's city limits, offers a unique lifestyle and a trendy downtown called "The Center". This area was recently expanded to include the adjacent "Blue Back Square" development which features more shops & restaurants as well as luxury condos, a fitness center, the expanded public library, and a movie theater. Other great shopping/dining areas include Bishop's Corner, Westfarms/Corbin's Corner, and Elmwood. Residents love the small town feel of West Hartford combined with the great schools, awesome shopping and dining experiences and walkable neighborhoods. The location is excellent for commuting purposes in the Hartford area with easy access to I-84, I-91, and Route 9.

Find Similar Homes in the Area

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

West Hartford Real Estate: Monday Market Recap...

Mon, 18 Mar 2013 19:19:43 -0700

West Hartford Real Estate: Monday Market Recap...

What a whirlwind weekend in West Hartford! Homes are flying off the market as fast as they come on.

This weekend alone several homes were listed and under contract within a few days in West Hartford. Check out the days on market of these 10 properties that went under deposit in the past weekend:

Property Address	List Price	List Date	Contract Date	Days on Market
18 Ledyard Road	$599,900	2/28/2013	3/16/2013	16
22 Clifton Avenue	$399,900	3/14/2013	3/16/2013	2
258 Tunxis Road	$329,900	3/1/2013	3/15/2013	14
30 Gifford Road	$269,900	3/4/2013	3/15/2013	11
38 Wells Road	$339,900	3/4/2013	3/15/2013	11
65 Grennan Road	$369,900	3/11/2013	3/16/2013	5
68 Sheep Hill Drive	$379,000	10/19/2012	3/15/2013	147
7 Staples Place	$459,000	2/22/2013	3/15/2013	21
74 West Ridge Drive	$325,000	2/1/2013	3/16/2013	43
87 Van Buren Avenue	$349,900	3/10/2013	3/17/2013	7

With inventory levels so low it's not surprising that several of these sales were the result of multiple offers. Once again, West Hartford leads the pack in terms of the local housing recovery.

Thinking of selling? Contact me for the latest market update in your neighborhood!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

The High Cost of Overpricing...

Wed, 13 Mar 2013 07:58:03 -0700

THE HIGH COST OF OVERPRICING...

I see it everyday in the MLS when I look for properties for my buyer-clients, or work on pricing for a listing appointment, or talk to sellers whose listing has expired and they don't understand why-- the high cost of overpricing.

Sellers who have a skewed perspective on the value of their home should realize that correct pricing is their most valuable marketing tool. When a home is overpriced, it is viewed (from the buyer's perspective) against other similarly priced homes. If those homes have more amenities, larger square footage, better location, etc., then the over-priced home only serves to showcase the other homes as being of better value within the price range.

These two actual property history charts from our MLS show how this works with the sellers "chasing the market down".

Home buyers are savvy, they know how long your home has been on the market, how many price reductions you've made, and what other homes are selling for in the neighborhood. Bottom line: When your home is overpriced you lose negotiating power with the buyer.

It's not always the sellers' fault. Some real estate agents will provide an inflated value of a home on a listing appointment just to secure the listing. Then once the property is for sale, they'll use the lack of showings and/or offers to suggest reducing the price.

The best way to avoid overpricing your home is to select an agent who provides an honest overview of the what's happening in the local real estate market and partners with you in determining the best list price. Combine that with great staging, professional photography, and a bangin' marketing plan and you'll get the best result-- a quick sale!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

There Can Be A Cost By Waiting To Purchase

Wed, 06 Mar 2013 05:54:24 -0800

I recently returned from our Keller Williams national convention in Dallas, TX where Gary Keller's message in his Vision Speech was that indicators-- low inventory + high buyer demand-- are pointing toward a sellers' market in most parts if the country. We are already seeing lots of multiple offer situations in West Hartford so buyers who have been on the fence, trying to time the market should consider this post...

Via George Souto (George Souto NMLS# 65149 FHA, CHFA, VA Mortgages Connecticut):

Yesterday I wrote a blog titled "Do you think the Interest Rate Is Going To Go Down?" That question is one that I get asked a lot from Borrowers at time of application, when they need to decide to "Lock" or "Float" the Interest Rate. I also get asked the same question when I am Pre-Approving Borrowers who are still undecided about purchasing a property now or wait. Many Borrowers are still expecting Interest Rate and Sales Prices to continue to go down. When I am Pre-Approving a Borrower who is struggling with this decision, I try to explain that There Can Be A Cost By Waiting To Purchase if Interest Rates and/or Sales Prices go up instead of down.

The Cost of waiting can have a two fold effect. If Interest Rates and/or Sales Prices go up, the same house will cost more. This is obvious, what is not so obvious is the lose of Purchasing Power if they guess wrong. Let me explain with the use of the chart below which is one of two excel spreadsheets that I have put together to quickly show Borrowers the reduction in their purchasing power if they wait, and Interest Rates go up. The one below is for FHA Mortgages.

Once I put in the maximum total monthly payment (principle & interest, taxes, homeowner insurance, MIP) that the Borrower can qualify for, in this case $1,500 at a 30 year term, it automatically calculates the maximum Sales Price that monthly payment will purchase at different Interest Rates. As you can see on the chart, if the most a Borrower can Pre-Qualify for is a total monthly payment of $1,500 per month, they will be able to purchase a house with a Sales Price of $186,612 at 3.5%. However, if the Interest Rate increase by even a small amount like .25%, they will not be able to purchase the same price house. An increase of .25% in the Interest Rate will cost them $4,291 in purchasing power, which will lower the maximum Sales Price to $182,321.

The above spreadsheet also let's Borrowers see quickly what their overall costs, and total interest that they will pay with each increase in the Interest Rate. For Example If the Interest Rate goes up by one full percent, the Borrowers will pay $22,297 more in Interest over the 30 life time of the mortgage, on a house that is $16,512 lower in price. That is a very high cost for choosing to wait.

The nice thing about using a spreadsheet like this, is that I can quickly show Borrowers not only how much purchasing power they are losing each time the Interest Rate goes up, but I can also quickly show them the same thing for lesser or higher amounts as well. Once Borrowers have visually seen that There Can Be A Cost By Waiting To Purchase, most often they come to the realization that waiting may not be such a good idea.

*******************************************************************************

Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

West Hartford Real Estate "Market Insider" - Zip Code 06107

Sun, 24 Feb 2013 18:49:55 -0800

West Hartford Real Estate Market Insider - Zip Code 06107

Do you live in zip code area 06107? Or are you thinking of buying a home in West Hartford's 06107?

This area covers primarily what's called "West Hartford Center" and approximately 18,000 residents occupy this space. This area of town is the most "walkable" with dining, shopping, and entertainment within a few blocks of many homes. (You can check out the "walk score" for any property.) The average household income here is around $76,240 which is considerably higher than the US average household ($56,604). The average sale price in this area is $379,967 for a 4-bedroom, 2-bath, 2,100 square foot home. Click here or on the charts below for more detailed real estate, community, and school information for this area.

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

We are never, ever, ever... going to find a home!

Sat, 23 Feb 2013 15:41:25 -0800

"We are never, ever, ever... going to find a home!"

I'm sure Taylor Swift won't be singing this tune, but many potential home buyers in the West Hartford area are.

Housing inventory is so low right now, there are only 165 homes on the market in West Hartford-- that's a very small percentage in a town with over 18,000 single family homes! And I receive inquiries every day from ready, willing, and even ABLE buyers wanting to purchase a home in West Hartford. Of course, time of year has something to do with this conundrum, however, it feels like there is a subtle shift occurring in the market. I've had buyer and seller-clients in multiple offer situations in West Hartford over the past 6-9 months and a declining absorption rate seems to indicates a trend where the inventory is decreasing as more homes are being sold than are coming onto the market. In fact, home sales in West Hartford were up by 13.3% in 2012 as compared to 2011.

Let's face it we've been in a buyers' market for so long it seems almost impossible to consider, let alone utter (in hushed tones of course) the words many West Hartford home owners are longing to hear, "sellers' market". But it is possible...Low inventory + high demand can start to swing the pendulum the other way. Real Estate is always local, so sellers who have been on the fence should consult with a real estate expert at least in West Hartford anyway to determine if the time may be right to list. After all, even great songs get overplayed after awhile!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

"Second Time Around" Girls' Night in West Hartford!

Thu, 21 Feb 2013 06:46:52 -0800

"Second Time Around", an upscale consignment shop in West Hartford is hosting a "Girls' Night" on Thursday, February 21st from 4 - 8 p.m. Wine, cupcakes, and of course shopping! STA is located next door to Grant's Restaurant at 977 Farmington Avenue in West Hartford and will be featuring great spring and resort designer fashions. A definite must do for all savvy shoppers!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Happy Valentine's Day West Hartford!

Wed, 13 Feb 2013 12:11:54 -0800

Happy Valentine's Day West Hartford!

Haven't found the perfect Valentine gift yet? Or worse yet, haven't made your V-Day plans? Don't worry, you've still got 24 hours...

Considering chocolates, the Valentine staple? Stop by at Bridgewater Chocolate, 12 LaSalle Road, West Hartford, which offers several options including a Valentine Assortment with toffees, turtles, peanut butter and Belgian chocolates in a red box with a gift bow in half, one or two pound boxes for $20.50, $37.95 and $67.75. Another local favorite, Munson's Chocolates at 62 Isham Road, West Hartford has chocolate heart pops for $1.60 or red foil milk chocolate long stem roses at a budeget-friendly $3.98 each.

Flowers are always a hit on V-day! Check out the great floral selection at Lane & Lenge Florist on Park Road-- shop their "Deal of the Day" for $50.00. Lane and Lenge Florists (est 1912) is family owned and operated was voted best florist by the Hartford Advocate readers polls again in 2012 for the 10th year in row.

Looking for some bling this Valentine's Day? From chic and trendy accessories at Charming Charlie or Alex & Ani bracelets from The Silver Dahlia, to Becker's Diamond's & Fine Jewelry where you can design your own engagement ring or Lux Bond & Green, for a petite diamond heart pendant ($210.00), West Hartford Center and Blue Back Square have something for everyone's budget.

While West Hartford is renowned for its exceptional eateries, this year, you can wine and dine your sweetheart at one of Connecticut’s best restaurants. Three of the shopping center’s restaurants have been chosen as “Best Restaurants 2013: Expert Picks” in Connecticut Magazine’s February issue. The distinguished winners include:

Best Mexican/Latin: Besito Mexican Kitchen and Agave Lounge

Besito’s menu embraces all of the flavors and festivity of the Mexican experience including their signature guacamole prepared tableside. Specials for Valentine’s Day at Besito include: Ostiones Y Jamon-Cornmeal fried CT oysters with sliced Serrano ham and three chili relish, Bistec Con Langosta-12oz Grilled NY strip, served over a chipotle lobster cream salsa, and Corazon Sangrado, chocolate and cherry bread pudding with tequila macerated cherries.

Best Steak: Fleming’s Prime Steakhouse & Wine Bar

Fleming’s is spreading the love over four nights with their Valentine’s Celebration Menu specially created by Executive Chef Russell Skall. Start off with one of their flirtatious cocktails or wine pairings to set the mood and finish the evening with a decadently delicious dessert. To sweeten the deal, each couple who dines at Fleming’s Thursday, February 14th through Sunday, February 17, will receive a $25 Dining Card†† toward a future rendezvous at Fleming’s.

Best for Families: Rizzuto’s Wood Fired Kitchen & Bar

Love is in the air all weekend long at Rizzuto's! Valentine’s Day specials for couples to share include appetizers Seafood for Two-Little Neck clams, wild shrimp, PEI mussels in an orange saffron broth, fennel confit, sweet garlic, grilled crostini, sweet garlic-piquillo pepper aioli for $18. A selection of entrees are Filet Mignon for Two ($52) and Surf and Turf for Two $17 with oak grilled shrimp ($16) or pan seared diver scallops ($17). For a decadent dessert, share the Chocolate Plate for Two ($12).

...Or perhaps you're thinking of surprising your loved one with their dream home, start your search here!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

City Style Condo in mid-town West Hartford!

Tue, 22 Jan 2013 10:57:40 -0800

Search current inventory of Condos for Sale in West Hartford.

Listing Details

30 Schoolhouse Drive, Unit #207, West Hartford, CT 06110

Price: $255,000

MLS Number: G637465

Bedrooms: 2

Bathrooms: 2

Square Footage: 1,319

Call Laurie Murray at (860) 212-8305 to see if this property is still available and arrange a showing.

You Will Love the Urban-Chic Feel of this Beautifully Renovated Schoolhouse Property within Walking Distance to Many Restaurants!

Welcome to the Schoolhouse at Quaker Green! This beautiful mid-rise building, completely renovated in 2008, features 22 fabulous condos with stunning architectural details. Unit 207, an end unit, is the largest model (1,319 square feet) with soaring ceilings, sunny southern exposure and loads of windows. With 2-bedrooms, 2 full baths, plus a den, there is plenty of living space and the open floor plan was designed with today's buyers in mind. The great room accommodates living and dining areas with full view of the kitchen/breakfast bar-- an arrangement that is perfect for entertaining! The master bedroom is huge and includes a walk-in closet and full bath with double sinks and a soaking tub. The 2nd bedroom is generous in size and has a double closet. Stackable washer & dryer are located in the unit and the forced air heating system is an energy efficient and economical natural gas system. There's also an outdoor heated pool & playground, state of the art fitness center in the building (no need for gym membership!) and social and billiards rooms. Quaker Green is also a pet friendly complex.

The Schoolhouse building is centrally located with easy access to all major highways and just a 5-minute drive to West Hartford Center and Blue Back Square. It's an easy walk to shops and restaurants (Tapas, Beachland Tavern, Corner Pug, Goldberg's Deli, Frank Pepe Pizza, etc.) on New Britain Avenue.

Click here to see additional images of this Quaker Green condo.

Quaker Green in West Hartford - Live The Lifestyle You Deserve!

This exciting lifestyle is within a comfortable and cozy enclave with a very private and serene “green environment.” In fact, Quaker Green is adjacent to Beachland Park, with walking paths, a pond, ball fields and a playground. No other new home development in West Hartford, CT offers this kind of environment:

Swimming pool with sundeck
Beautifully furnished Social Room

Well-equipped Fitness Center
Lushly landscaped, in a park-like setting.

West Hartford is a great place to live:

• Top 10 "Best Cities in the Nation for the Next Decade" (Kiplinger’s Personal Finance Magazine)

• Top 10 “Great Cities for Raising Families” (Kiplinger’s Personal Finance Magazine )

• One of the Coolest Suburbs Worth a Visit (TravelandLeisure.com)

• One of the top 100 Best Places to Live in the Nation (CNNMoney.com)

• U.S. News & World Report ranked both Conard and Hall High Schools in the top 10 public high schools in Connecticut, and bestowed the gold medal distinction for ranking in the top 500 of schools nationwide

• Conard and Hall High Schools ranked tops in Newsweek's America's Best High Schools

• Among the 20 Great Places to Retire in Connecticut (Connecticut Magazine)

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

West Hartford, CT Condos - Affordable Luxury at Quaker Green!

Thu, 01 Nov 2012 20:05:34 -0700

We all know that West Hartford is a great place to live, and I am often asked about affordable luxury condos by young, urban professionals (formerly known as yuppies) as well as others who are thinking about downsizing and prefer lots of amenities. Although "affordable" and "luxury" shouldn't really occupy the same phrase, it is possible to find affordable new construction homes in West Hartford.

One of the first places to look is Quaker Green, located at 30 Schoolhouse Drive in West Hartford. This development is situated within a few minutes drive to popular West Hartford Center, where shopping, dining, and entertainment abound. In addition, Cobins Corner & Westfarms Mall are just up the street, and a thriving Elmwood Center is right around the corner. Beachland Park, with walking paths, a pond, ball fields, and a playground is adjacent to the Quaker Green complex. Just minutes from Routes 84 and 91, Quaker Green offers an easy commute to Hartford, Waterbury and New Haven.

With a choice of 1-bedroom, 1-bath units starting at just $179,900, and 2-bedroom, 2-bath units with a balcony from $256,900 these West Hartford condos are truly affordable.

The Quaker Green condos are under construction now and will be ready for Spring, 2013 occupancy.

The units, equipped with well-designed kitchens & baths are the most affordable new condos in West Hartford. Homeowner's association fees are also affordable at around $225/month. As far as "luxury" status goes, I guess it's a subjective term, however there are some nice amenities for this price range. They include:

Swimming pool with sundeck
Beautifully furnished Social Room
Well-equipped Fitness Center
Lushly landscaped, in a park-like setting
Private "in building" 1 & 2 car garages with direct access to elevator

If you are looking for a West Hartford home, contact me today-- no one knows West Hartford better!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Fence Sitters Beware: Great Home Purchase Price vs. Low Mortgage Rate

Tue, 23 Oct 2012 13:28:32 -0700

Which do you think matters more when waiting for the right time to buy a home? Is it securing a low purchase price, or locking in a great financing rate?

Most buyers become focused on purchase price when they’re considering whether or not to buy. The question you often hear is the same: “Has the market bottomed out yet?” The idea of getting “the best deal” on a home is paramount to these price shoppers, and indeed for cash buyers, this may be the primary concern.

While negotiating a great price is an important part of the equation, the value of securing great financing terms cannot be overstated. The inherent risk in waiting for the market to hit bottom is that you’ll also miss out on the best interest rates available.

Imagine, for example, you’re waiting for homes to drop an additional X% in value. While you’re waiting, mortgage rates rise Y%. Sure, you might secure the home at a better purchase price, but what you’ll pay over the life of the loan will be significantly higher than buying when the market was more expensive (but rates were lower).

Perhaps the most punishing part of missing great financing is the net impact on your monthly payment. Even a 1% increase in your mortgage rate can end up costing as much as a brutal 10% increase in your monthly payment.

Buying a home is not like buying a nice piece of furniture. Price is not the sole concern. Given the complexities of price, property taxes, financing terms, and the larger tax implications of home ownership, it truly pays to consult with an agent who can help you weigh the pros and cons and help you make the right move.

I’m always happy to work with you to navigate the market, negotiate price, and put you in touch with mortgage professionals who will help you get the best rate possible. (The rate for a 30-year fixed rate mortgage was quoted as 3.5% at our office meeting today!)

History is being made. When you look back, will you say "I wish I had..." or "I'm so glad I did"? Contact me today so I can help explore your options.

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Starting Out or Moving up in West Hartford-- A Great Place to Live!

Tue, 18 Sep 2012 08:49:40 -0700

West Hartford, Connecticut was recently named one of "10 Best Cities for the Next Decade". Add this to the list of:

Top 10 “Great Cities for Raising Families” (Kiplinger’s Personal Finance Magazine )
One of the Coolest Suburbs Worth a Visit (TravelandLeisure.com)
One of the top 100 Best Places to Live in the Nation (CNNMoney.com)
U.S. News & World Report ranked both Conard and Hall High Schools in the top 10 public high schools in Connecticut, and bestowed the gold medal distinction for ranking in the top 500 of schools nationwide
Conard and Hall High Schools ranked tops in Newsweek's America's Best High Schools
Among the 20 Great Places to Retire in Connecticut (Connecticut Magazine)

This may be one of the reasons that people who move to West Hartford tend to stay in West Hartford. Several factors contribute to West Hartford's high rankings including it's wonderful walkable neighborhoods, thriving Center and great schools. With the real estate market shift over the past few years, 1st time buyers have found West Hartford real estate to be a great value and current residents have been able to "trade up" to their dream home for much less than they would have during the peak of the market. And first time home buyers are finding that a West Hartford home is well within their reach, with many homes more affordable than ever.

Why wait? If you're thinking of making a move, don't miss this golden opportunity. Contact me to receive your copy of my free e-book, "7 Reasons Why Now Is A Great Time to Buy A Home (A Smart Buyer's Guide to Seizing the Market)".

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

August Home Sales Sizzle in West Hartford!

Thu, 06 Sep 2012 18:43:36 -0700

West Hartford single-family home sales during August, 2012 increased by over 20% when compared to August, 2011 following the year-to-date upward trend. While sizzle may be a bit of a stretch, a closer look at the stats reveals that more houses were sold, they took less time to sell (average 48 vs 51 days on market), AND the average sales price per square foot was up as well (albeit slightly!)

This is good news for West Hartford homeowners, especially for those who are thinking of selling. According to Houselogic, it's also good news for our local economy since one job is created in the U.S. for every two homes sold and each purchase generates as much as $60,000 in economic activity over time.

Strong demand and low inventory continue to help West Hartford real estate rebound. Multiple offer situations are taking place in certain neighborhoods and there are signs that the market may have bottomed out. If you are thinking of buying a home, there's even more reason to get off the fence. And if you're thinking of selling, contact me for real estate statistics from your neighborhood. I'm ready to help get our economy moving again, are you??

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

When your focus shifts to GRATITUDE, your ATTITUDE improves!

Tue, 04 Sep 2012 09:11:14 -0700

"In daily life we must see that it is not happiness that makes us grateful but gratefulness that makes us happy."

-Brother David Steindl-Rast, Bendictine Monk (1926- )

Do you have a practice for dealing with daily stress? I thought I’d share a simple and surprisingly effective exercise you can do each day that will not only boost your spirits, but lighten the perceived burden of “the daily grind.” No running shoes required! You can do it without breaking a sweat, right from the comfort of your car, your desk, or even the line at Starbucks.

It sounds simple, but it’s quite powerful: Each day, think of five things you're grateful for. They don't have to be big things. In fact, it's great to start with the little things. It helps get you in the flow. Start with one or two basic things you take for granted, for example: "I'm grateful for a hot shower in the morning." Or: "I'm grateful for a safe neighborhood."

Come up with five new things each time you practice. You might find this challenging at first. There should be a little struggle, but push through it. "I'm grateful for the smile of the guy at the bagel shop." Or: "I'm grateful for my family dinner on Sundays."

It might seem silly at first, but you'll notice that the more you express your gratitude, the more you'll connect to a general feeling of benevolence for others and well-being. Really take a moment for each simple gratitude to sink in. Visualize what you're grateful for and recall experiencing it.

This gratitude exercise connects you to the world in a positive way. It makes the trivial annoyances in life sting less, and reminds you to note what it is in the world you truly appreciate. When your focus shifts to gratitude, your attitude improves.

Give it a try this week and see what you think. Waiting in line, stuck in traffic, killing time between appointments... they're all great windows to practice a little gratitude.

Sometimes my clients ask me how I keep my cool when dealing with a difficult real estate deal. Well, this is one of my tricks to keep everything in perspective. If you’re looking for a stress-free home buying or selling experience, I can help.

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Ready, Set, Go! Seller's Prep Guide for Home Inspection

Wed, 27 Jun 2012 07:46:27 -0700

I don't know about you, but I love when I get a listing that is one of those absolutely perfect homes. The ones where everything shines from the entryway to the smallest piece of trimwork. You know what I'm talking about, there's fresh paint throughout, no clutter to be found, every drawer and closet are neatly arranged, AND the house is perfectly staged. Unfortunately (for me anyway), these seem to be the exception rather than the rule. Surprisingly though, even these show homes can fall short of an A+ rating during the buyers' home inspection. So I've put together a checklist for sellers to ensure that the mechanical details are as show-ready as the rest of the house:

1. Chimney - I have yet to be on a home inspection where the chimney doesn't need some repointing or has a crack in the crown. (I'm not sure why this is; maybe it's because no one really goes outside every year to examine their chimney.) Right below repointing is the dirty chimney. Why not have your fireplace inspected and cleaned before you put it on the market to eliminate a potential negotiating item on inspection?

2. Leaky Faucets/Loose Toilets/Broken Stopper - These are common problems that require small effort (and small $$) to repair in advance. (Don't forget to check the laundry sink too.)

3. Nail Pops - Many times a roof with a good portion of life remaining on it has a few nail pops (where the shingles may have lifted a bit.) It seems better to bring in your handyman in advance to nail these down rather than have a home inspector point out this defect (and have the buyers worrying about potential need for roof replacement.)

4. "Double Taps" & Open Junction Boxes - Ah yes, double taps, another one of my favorites. This is where two wires share the same breaker in the electrical panel (at least that's what I think it is.) As bad as it sounds, an open junction box simply requires that a cover be added. These are found in lots of older homes and are usually easy to repair (by a licensed electrician of course.) While the electrician is there, have him or her install GFCI outlet in the kitchen & baths if they're not present.

5. Hot Water - I tell home owners to check the temperature setting on their hot water heater. (Some people have it set very low to conserve energy; others have it set on scalding.) It should be set for at least 120 degrees according to the U.S. Department of Energy. Ask them to run the hot water in their tub for 15-20 minutes and check the temperature since this is what the inspector will likely do.

6. Furnace - Has their furnace been serviced within the past 12 months? If not, I suggest that they have it done before the house goes on the market. This way, they'll have a clean report to present to the buyers and they'll find out in advance if any repairs are required.

7. Windows - Do all the windows operate smoothly? While this isn't a big ticket item, the more things that go well in the inspection, the better chance that the inspector will give the house an overall good rating (I think this is called the "Halo Effect".)

8. Pests - Do they have ants running around in their house? If so, have it treated before you show it.

9. Garage Door/Opener - Two items seem to pop up with garages: the opener does not have a dedicated outlet (i.e., it's connected with an extension cord) AND the auto reverse function doesn't work or isn't present. While the electrician is fixing the double-taps (#4 above) perhaps he or she can add an outlet for the garage opener. If the auto reverse feature is kaput, usually the only option is replacement but I would recommend holding off on this since I would consider it an "upgrad" rather than a "repair".

10. Ventilation - Several areas to check on this: proper attic ventilation (gable screens intact, soffits in place, ridge vent); bathroom exhaust venting to the exterior (not the attic); and clothes dryer vent properly attached and venting outside the home.

While these items may not seem huge by themselves, if several of them show up on the home inspectors report as problematic it can make the home inspection process a nightmare for sellers. Home owners are selling a product and a little advance work can avoid lots of problems during home inspection. Remember, an ounce of prevention is worth a pound of cure!

Please add your common home inspection tips for sellers in the comments-- I'll add them to mine!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Sellers: Don't Let Your Emotions Get In the Way

Mon, 11 Jun 2012 05:17:45 -0700

I absolutely feel for clients who are stressed out during the sale of their home, especially while we ride out this bumpy road near the bottom of the market. While I make the process about as smooth as possible, there are always high-stakes feelings on the table. Unfortunately, these mistakes can cost sellers thousands.

In the interest of protecting sellers everywhere, perhaps you or your own clients can avoid these four “emotional traps” that can directly impact how well (and for how much!) a home sells:

Emotional Trap #1: Pricing High

You’ve loved your home. You may have raised kids or started a marriage there. Everywhere you look, you see history, memories, and the reasons you fell in love with the place. I guarantee you: Buyers can’t see these. Remember: What you may think is an amenity might not be for a buyer, too. It could even be a negative. Distance your emotions from the list price since correct pricing is your most powerful marketing tool.

Emotional Trap #2: Hovering at Showings

Sure, there may be times when you need to be there. But 9 out of 10 times, you’re only going to make buyers uncomfortable, get your feelings hurt when the buyers don’t like something, or take each minor complaint as commentary on how you’ve treated the place. Perhaps worst of all? You might prevent them from staying in the house long enough to really give your house a chance.

Emotional Trap #3: Turning Down the First Offer

Some of the sweetest interest in your home is going to happen in the first 7 - 14 days it’s on the market. If offers come during this time, consider them seriously! The longer it sits, the more likely it is you’re going to face price reductions. Don’t get overconfident early on when an offer comes in and think there will be a steady stream. You might end up selling the home to these same people for less down the line.

Emotional Trap #4: Feeling Insulted by Negotiations

This may sound crazy, but when you’re in the middle of a sale, it’s a very real phenomenon. Remember: They’re not buying you, they’re buying the house. Negotiations prove the buyer is serious, so keep your eye on the goal (a successful sale) and make it a win-win situation (this is where your agent can help).

I provide my clients with the rational balance and support they need during the marketing and sale of their home in these difficult times. I’d be glad to help you sell yours!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

West Hartford High Schools Unite For Lights

Tue, 15 May 2012 21:02:23 -0700

Remember the days of Friday night football games? Something about the excitement of the end of the school week combined with the prospect of seeing your friends and cheering for your team created lasting memories. Well, not for West Hartford students and athletes, at least not yet.

A coalition of parents, students, teachers and community leaders has recently formed to lobby for the installation of stadium lights at Hall and Conard's athletic turf fields. The group, called "West Hartford High Schools Unite for Lights", is circulating an online petition to demonstrate support fo the project which would be funded by private donations and state and federal developments assistance. Many in town feel that the installaton of lights at the high school fields is long overdue. According to the petition, of the nine towns in CCC Division 1 football, West Hartford is one of only two without lights. In 2011, both West Hartford football teams had 9-1 regular seasons and hosted home state playoff games. Both teams made the playoffs the previous year as well, and under new CIAC rules, Conard and Hall will not be able to host any further home playoff games without permanent lights. West Hartford schools earning a home field berth would have to have the game moved to a neutral site outside of town. The lighted fields could be used to illuminate other sporting events as well. In 2011 at Conard alone, more than 70 High School varsity and JV and athletic contests were held on the turf field, including 27 lacrosse matches, 16 soccer matches, 15 field hockey games, 7 football games and 6 track meets.

Advocates of the stadium lights say that the evening events at schools will offer a safe, positive outlet for our youth. The group believes that night football, soccer and lacrosse games will bring youths of all ages together in a supervised, safe, constructive environment and help keep them off the streets and promote school pride and community spirit. I couldn't agree more. So please consider signing the petition today!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Walmart Coming to West Hartford!

Wed, 11 Apr 2012 11:53:56 -0700

It's sort of surprising to me that Walmart will be opening a West Hartford location. I'm not sure why, but the recent announcement that a "Neighborhood Market" by Walmart will be opening in the long-vacant Adams supermarket site at Bishops Corner in West Hartford stirred mixed emotions in me. Don't get me wrong-- I think it will be a welcome addition to the shopping plaza, but something about the Walmart image doesn't quite jive with my own notion of West Hartford as a trendy, upscale, hip locale. However, Walmart's Neighborhood Market is promoted as not just a grocer but also a "gathering place". And who wouldn't like another gathering spot in town?

According to the Walmart website, the "Neighborhood Market" will offer a quick and convenient shopping experience for customers who need groceries, pharmaceuticals, and general merchandise all at their famous Every Day Low Prices. Walmart Neighborhood Markets feature a wide variety of products, including:

Fresh produce
Meat and Dairy products
Frozen foods
Dry goods and staples
Health and beauty aids
Stationery and paper goods
Drive-through pharmacy
Deli foods
Bakery items
Canned and packaged goods
Condiments and spices
Pet supplies
Household supplies
One-hour photo center

Construction will begin later this year and Walmart is scheduled to open in early 2013. Perhaps the addition of another grocery retailer in West Hartford will spur some price competition. And I remind myself that if Avon can be home to a Walmart, then I guess West Hartford can too. After all, any occupied storefront will be an improvement to the blighted vacant building that exists today.

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

West Hartford Marches in the 41st annual Greater Hartford St. Patrick's Day Parade!

Mon, 05 Mar 2012 07:42:40 -0800

Mark your calendars for the 41st Annual Greater Hartford St. Patrick's Day Parade this Saturday, March 10, 2012 at 11:00 a.m. The parade is held rain or shine.

It's always a good idea to get to the parade route early and secure 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. (Attendees should note that there will be some road closures along the parade route before the parade.) Parking is available in various lots and garages near the XL Center area and Convention Center.

Serious St. Patrick's Day party-goers can kick off the Hartford's St. Patrick's Day Parade with a bang at the Black Bear Saloon's "Beer & Breakfast Bonanza" located at 187 Allyn Street in Hartford from 7-11am. Enjoy an unlimited breakfast buffet, plus 4 Drink Tickets for Coors Light or Guiness for ONLY $20. Proceeds benefit the American Lung Association and your ticket will turn into a VIP pass to cut the entry line to Black Bear AFTER the parade. Raffles prizes & giveaways as well!

FOX CT is also sponsoring a photo contest to showcase Irish Pride. Wear your green and enter to win a new laptop computer courtesy of Kaplan Computers! May the Luck O' the Irish be with you!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

West Hartford: The Burger Capital of Connecticut?

Wed, 29 Feb 2012 21:15:23 -0800

If you like burgers, there's no shortage of options in West Hartford. Our town has become sort of a mecca of burger joints with everything from diner to custom-built to pub-style to gourmet and everything in between-- West Hartford has it all! At least 10 burger joints easily come to mind and here is a sampling in no particular order:

The Counter Burger - Step into The Counter® and you’re greeted with a clipboard and an extensive list of fresh mouth-watering ingredients that allow you to build your own gourmet burger. The Counter Burger boasts over 312,120 different burger combinations which makes every burger as unique as each customer. Located in the heart of Blue Back Square at 50 Memorial Road in West Hartford.

Max Burger - This trendy Best of Hartford Magazine 1st Runner Up for "Best Burger" in 2011 is the place for burger connesieurs. Part of the Max Restaurant Group,this hip West Hartford Center dining spot features award-winning all-natural burgers, American-style comfort food and a large selection of craft beers in a casual atmosphere. (My personal favorite is the tuna burger.) Always hopping but definitely worth the wait! Located at 124 LaSalle Road in West Hartford Center.

Jake's Wayback Burgers - Wayback Burgers began in 1991 as Jake's Hamburgers with a single restaurant in Newark, DE which still occupies its original location on Route 273. Jake's opened at 450 South Main Street in West Hartford in 2011 and offers big, juicy hand-made burgers and real milkshakes in a casual atmosphere. That’s how they did it way back when, and that’s what they still do today. Every month, Wayback Burgers a brand new "Burger of the Month" and "Shake of the Month."

BGR The Burger Joint - "One burger YOU MUST HAVE before you die", or so says The Burger Joint's website. West Hartford's newest member of the burger community, this is not a fast food place, not a mass production burger operation, but a "joint" -- one that you can make your own, stay awhile and enjoy the food. BGR uses only use grain-fed cattle; all natural, no hormones, fillers or antibiotics. The buns are made locally and delivered fresh every day and the tomatoes are the finest available. Lastly, the burgers are grilled to temperature over an open flame. Relaxed and super casual atmosphere. Located at 983 Farmington Avenue in West Hartford.

Plan B Burger - "Good booze. Great burgers." Plan B Burger Bar was created from a belief that customers deserve to eat healthy, quality food without compromising style and fun. Plan B promises: beef, burgers, bourbon and beer. Breathtaking burgers that are always fresh, never frozen, ground in house daily from whole chucks, never preformed, simple and pure. Most notably Plan B features the most extensive boutique bourbon list in the area. Located at 138 Park Road in West Hartford, this is a fun place to meet friends and ENJOY the evening!

Beachland Tavern -You don't get much more hometown than the Beachland Tavern. For one thing, the new West Hartford restaurant takes its name from the park on South Quaker Lane, where the owners played Little League baseball as boys. Inside the tavern, the setting is contemporary, casual and laid-back. Half-pound burgers ($9) are made with a fresh-ground blend of brisket and top round, with customers' choice of free toppings (and other premium toppings like avocado or caramelized onions for $1.) Not feeling like fries with your sandwich? Choose from any of the menu's sides, from garlic mashed potatoes to bacon cream spinach, for no extra charge. Free parking in this Elmwood neighborhood location, 1128 New Britain Avenue, West Hartford.

The Corner Pug - Inside and out, The Corner Pug (named after the owner's pet pug, Mac) has the feel of a classic English pub. Friends meet at the bar, couples snuggle into mahogany and leather booths for late night bites and families come for the comfort food. Formerly an Elmwood neighborhood bar, the West Hartford Restaurant was remodeled, expanded and reopened in 2001. In addition to the delicious black angus burgers cooked on a live-fire grill, hearty portions prepared to order from the freshest of ingredients and a tempting daily array of blackboard specials keep people coming back! Located at 1046 New Britain Avenue in West Hartford.

A.C. Petersen Farms - "West Hartford's Favorite Family Restaurant" While not necessarily a burger joint, A.C. Petersen Farms has been serving up delicious eats since 1940. They offer a full menu of breakfast, lunch and dinner options including "Build Your Own Sliders", famous Clubs, Sandwiches, Wraps, Paninis, Legendary Burgers, Classic Sandwiches, Dinners, plus Soup and Salad. Open 7 days/week and located at 240 Park Road (right next door to the Playhouse on Park) A.C. Petersen's feature free parking, free wi-fi and delicious ice cream in 40 flavors!

McLadden's Irish Publick House - "There are no strangers here, only friends you haven't yet met." This statement says it all; good food in a loud and lively environment. Choose angus, veggie or turkey burger with a variety of toppings. Features a pub lunch special Monday through Friday for $9.95. True Irish warmth and hospitality in the heart of West Hartford Center at 37 LaSalle Road.

Red Robin - "It's good to have a burger every now and then." This sit down burger joint is casual and fun with a HUGE menu. All gourmet burgers served with bottomless steak fries! Located at 1509 New Britain Avenue this eatery offers a nice respite after a day of shopping at nearby Westfarms Mall.

So there you have it. West Hartford is not all glitzy martini bars and fine dining.

Oh, by the way... Which is your favorite??

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

It's A Great Time to Buy a Good Piece of Real Estate!

Tue, 28 Feb 2012 12:26:16 -0800

Well, they say a picture is worth a thousand words, so I'll let this one speak volumes!

It's hard to believe that while everything we buy has gone up tremendously in price, housing has become more affordable than ever before. With mortgage rates this low, if you've been thinking about buying real estate my advice is don't think about it, just do it!

Home sales in West Hartford are brisk this month with 46 single family home sales pending (as of 2/28/12) compared with 33 during the same time in February, 2011. That's a whopping 39% increase! Perhaps it's the warm, snowless winter, better employment outlook, or the historically low mortgage rates that are driving home sales, but no matter, the point is that while it's tricky to time the market there's no question that spring has arrived early this year! No incentives, no gimmicks, just savvy consumers making great investments. Stay tuned as we track spring pricing trends...

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

Fears & Facts About Buying Your First Home

Sat, 25 Feb 2012 16:03:05 -0800

Although there are many good reasons to buy a home, wealth building ranks among the top of the list. However, too often, people talk themselves out of making one of the best financial decision of their lives for reasons that when fully examined just don't make much sense. Listed here are the most common fears that might keep some first-time home buyers from making the transition from renter to homeowner, along with the facts that will push you past them.

Fear #1: I can't afford to buy a home now.

Fact: Actually, you can't afford not to buy a home now.

If you are paying rent, you can afford to buy. From a financial point of view, in the U.S., the tax savings on mortgage interest alone usually makes up most of the difference between rent and a mortgage payment. Also, the earlier you buy, the earlier you will benefit from equity buildup and will be well-positioned for any future appreciation

Fear #2: I should wait until the real estate market gets better.

Fact: There is never a wrong time to buy the right home.

Historically, focusing on the market is never the smart approach to buying the right home. Trying to time the market in the short term is the easiest way to miss your timing for the long term. Keep in mind, it's the long term factors that make real estate a solid investment. Mortgage rates averaged 4.45% in 2011-- an all time low since Freddie Mac started tracking in 1971 making housing affordability the most favorable on record (just 12.9% of family household income!) All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run.

Fear #3: I don't have money for the down payment.

Fact: There are a wide variety of down payment options available for you.

While many people believe that making a home purchase requires a substantial down payment, this is seldom true. As a first-time buyer, options are available to you that require as little as 3.5%, and some even less. In our area, 100% financing is still an option for homebuyers who qualify for a CHFA loan. Don't let the lack of a large down payment prevent you from investigating your home-purchasing opportunitites.

Fear #4: I can't buy a home because my credit isn't very good.

Fact: A less than perfect credit score won't necessarily prevent you from buying a home.

Typically, there are two types of credit challenges-- a poor credit history or no credit history. A poor one shouldn't prevent you from talking to several lenders to explore your options. A good loan officer will be able to help you resolve your credit challenges. With proper credit planning over time, you'll get on the path to home ownership.

Another challenge is having no credit history because you are new to the workforce or have not made regular purchases on credit. One avenue for first-time home buyers is to secure financing with the help of a co-signer, such as a parent, who is willing to stand by your ability to make the payments.

Fear #5: I can't afford to buy my dream home.

Fact: The best way to get closer to buying your dream home is to buy your first home.

Very few people can afford to buy their dream home when they buy their first home. So you make some compromises, buy your first home, and start building equity. This approach take you further and faster down the road to being able to own your dream home than if you hadn't purchased a home at all.

Fear #6: I should wait to buy a home until I get married.

Fact: There is no reason to wait.

When most people say they want to wait until they're married to buy their first home,, what they're actually struggling with are two distinct issue: First, would it be better to wait until they had two incomes? And second, will my futufre spouse like the home I choose?

If marriage is in your future, then getting into the game as soon as possible the right decision. If your future spouse doesn't like the home, you can rent it or sell it and use the proceeds along with your possible dual income to buy one you both like.

Fear #7: Buying a home seems way too complicated.

Fact: Buying a home is way too complicated, but that's why you have help.

No one would ever tell you that buying a home is easy. It's not. That's why there is a team of professionals ready to guide you through the home-buying process every step of the way. From your real estate agent to your mortgage officer to the professional who handles your closing and everyone in betewen, these experts make a complex process simple for you.

It's always a great time to buy a good piece of real estate! Contact me if you'd like to receive a free copy of Gary Keller's book, Your First Home for more great home buying tips!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.

5 Great Apps for Homeowners!

Thu, 23 Feb 2012 16:32:13 -0800

Do you have an iPad? Do you own a home? If so, I’ve got five killer apps for you to play with, most of which are free. Even the ones that aren’t free are so worth it that you might want to try them out anyway.

Who would have thought that you could control your TV with your iPad? And match colors you see in the world to exact hues with Sherwin-Williams? And estimate what your next home improvement project will really cost? Oh, and did I mention: An app to measure your rooms and a different one to help you decorate them?

Here are 5 incredible apps for the iPad that I think most homeowners will love:

ColorSnap: Capture real world colors and match them to Sherwin-Williams paint colors—for free.

Remodelista: Looking for the perfect couch, stylish DIYs, or inspiration to refresh your space? Get your daily deco fix with the new Home Design App from Remodelista.

Control4: Turn your iPad into a touch screen remote! Control your TV, lights, sound system and home security from one place:

Photo Measures Lite: Photo Measures is the most elegant and the easiest way to save measures on your own photos on iPhone, iPad and iPod Touch!

Sum+it: Got remodeling on the mind? Sum+it Project Calculator helps you estimate the cost of all the nuts and bolts (literally) on your next home improvement adventure.

Not a homeowner yet? Maybe I can help you with that! I guide first-time buyers through a pain-free process all the time. Reach out to me today!

Laurie Murray

Keller Williams Realty

(860) 212-8305 Mobile/Direct

www.liveingreaterhartford.com

"Serving West Hartford & Nearby Communities."

If you enjoy what you are reading to the West Hartford Hot Spot Blog.