CT Real Estate Report

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Real Estate Agent - Keller Williams CT - REB.0789472
Minna Reid, REALTOR®, Short Sale Agent: Real Estate in Hartford, Middlesex, Tolland, Windham and New Haven County, CT
After 3 years of efforts to sell their Ridgefield, CT luxury homewithout success, these sellers were forced to face the fact their home was now worth about half of the $2 million they owed on it. After a business failure, the sellers had moved out of state for new employment opportunities and cou...
HOME SALE CHALLENGE:An employment relocation forced this Cheshire, CT couple to move out of state, but left them stuck with a home they could not sell due to some significant negative equity. With few options to get out of the home, they decided a short sale was the only realistic solution. REID ...
After running side by side at equal rates 2012-2013,  the rates of REO (bank-owned) sales and short sales have split off in wildly different directions in Norwalk, Connecticut:Although Norwalk has the second highest amount of short sales in all of Fairfield County, the rate of short sales as a po...
All too often I speak with homeowners who at some point decided the best way to deal with their over-leveraged real estate was to rent it out. Renting at a loss to maintain a property that can't be sold traditionally rarely works out well, and it is usually within a few years these same homeowner...
2007 saw the highest average sales prices of single family homes in Connecticut in the last decade. The average sales price of a home in CT in 2007 was $268,000. The market collapsed thereafter with sharp declines over the next four years to $220,000 in 2011.  The market has mostly flat-lined sin...
Distressed real estate sales (REO (bank-owned) sales or short sales) in Danbury, Connecticut  have dropped to 16% of all sales year-to-date 2016, down from 20% in 2015. The level of short sales have remained mostly unchanged over the past two years while foreclosures have dropped a bit more:In 20...
With Fairfield County, CT real estate sales prices hovering at ten year lows in 2016, it's no surprise many homeowners are still struggling with negative equity. When these owners need to sell and are unable to cover the loss, a short sale is one of their best options.  In a short sale the home i...
After a few tumultuous years in Monroe real estate sales, the rate of distressed property sales is down again YTD 2016. Nine percent of all closed sales in Monroe are currently REO (bank-owned) sales or short sales:The five year trend of distress sales in Monroe remains unsteady. True long term h...
HAFA (Home Affordable Foreclosure Alternatives) is a short sale program available to qualifying sellers. The HAFA program has been around for several years, however it was recently revised to offer: Complete release from mortgage indebtedness including a full deficiency waiver Up to $12,000 to se...
Once in a while I am surprised when  a lender just has it together and a short sale approval comes easy...unfortunately rarely is that the case with Chase...HOME SALE CHALLENGE:After many months on market trying to sell his home as a traditional sale, this Hamden, CT homeowner realized there woul...

Minna Reid

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