April 22, 2021

Expired Listings In Connectiuct

Your Listing Expired In Connecticut – Now What?

Listing agreements all have an expiration date. No one wants to think about what happens when the listing expires; both the seller and agent hope the home will sell long before that time. But it does happen. An expired listing means two things; first, the home is now off the market, and second, you as the seller are no longer under contract with your agent.

Now you have some decisions to make. The most important question is to decide if you still want to sell the home. Let’s face it, it’s a challenge to have your home on the market; the home must always be kept show-ready and the last-minute scramble to accommodate a potential buyer is tiring. You should also consider the real estate market and whether current conditions will still allow you to sell in your expected price range.

If you decide to continue with the plan to sell, it’s time to consider whether you want to change agents or stick with the current one. There are many reasons why a home doesn’t sell that have nothing to do with your representation, but if you sense that the agent is not the right fit, this is the time to make a change. If the agent isn’t the problem, then the next step is looking at the home itself and the price. Are you overpriced for the home and its competition?

No one wants to think about an expired listing nor a home that didn’t sell—but this is the time to take stock of the situation, adjust if necessary, and try again; hopefully with the right combination of condition, price, and agent.

Posted in Market Activity
April 21, 2021

Is Subrub Living For You In Connectiuct

Is the Suburbs right for you in Connectiuct?

The common assumption is that you live in the city when you’re young and then move to the suburbs when you’re ready to settle down. While no one can deny that raising children in an urban environment presents challenges, the truth is that not everyone is suited for the suburban lifestyle.

5 Reasons You Might Wish You Never Moved to the Suburbs

1. Chain Restaurants – Cities offer a wide variety of dining options—from steak houses to a world of ethnic restaurants, tapas bars, and microbreweries—all of which are open past 9 pm. In the suburbs, the choices are limited to chain restaurants. Limited suburban nightlife also translates to earlier closing times.

2. Chasing Contractors is a Way of Life – A big house with a yard brings neverending maintenance projects. Homeowners choose between the weekend honey-do list or writing the check for professionals.

3. Not Necessarily a Melting Pot – – Suburbs tend to lack diversity. Even in 2021, most suburban dwellers gather with their own community. Cities tend to draw a wider variety of cultures and personalities.

4. You Need a Car – Living in the city means you can get places via public transportation, or walking. Suburbs rarely have public transportation options, and you’ll need your own vehicle to get to all the places sprawled across the suburbs.

5. School Choice Isn’t Automatic – One of the big draws to the suburbs is great schools, but this isn’t always the case. It can be overwhelming to choose a school in the suburbs if the assigned district is subpar, and the ‘right’ one is often miles away, making for a lot of chauffeuring kids and/or lengthy bus rides. Kids in the suburbs can’t always conveniently walk to school, either.\

Choosing whether to live in the city or the suburbs is a personal choice, but it’s worth considering all the aspects of the differing lifestyles on offer. Even with children, a low-maintenance urban lifestyle with variety could still be the right place for you and your family.

April 20, 2021

Selling The Family House In Connectiuct

Family is important, and your decision to sell your home may be difficult for those closest to you. Moving can create mixed emotions, and it’s important to help your family understand how and why you made your decision. Including family members in the process can prevent strong emotions from potentially sabotaging the sale. As soon as you decide to sell your home in Connectiuct, set aside time to have a serious conversation with the rest of your family. If you have children living at home, they may be fearful of leaving their home, their school, and possibly their friends. Listen to them and reassure them of the safety of the family unit. You can’t promise that nothing will change, but share the good things you expect to get from the move; a bigger home, a better job, advantages of the new area, etc. Help your children see that you’ve considered them from the very beginning and explain why it will be a good move for them as well. Adult children might be difficult as well. Even though they have left the home, they may be less than enthusiastic for several reasons. They may question your decision to move into the new home or area, or they might simply be nostalgic and sad to see their childhood home sold. A home is a special place and the decision to sell, especially if you’ve been in the home for a long time, affects not just you but your family. You can help bring them into the conversation by making time to listen and understand their concerns and then share your own. This way, while you might not all agree, no one will feel left out of the decision.

April 16, 2021

What Are The Benefits of VA Loan in Connectiuct?

What Are The Special Benefits of the VA Loan In Connecticut. Our military veterans have given so much to this country. To make it easier for these special families to qualify for and purchase a home, Veteran Affairs has a unique loan offer reserved only for retired and active military. The VA loan offers mortgage options unavailable to the general public. • No Down Payment – While zero down loans disappeared in the real estate bubble of the last decade, VA loans allow our military to buy a house without the stress of trying to save the down payment. • Easier to Qualify – Most loans require a credit score of 650 or higher. Qualifying for a VA loan only requires a FICO score of 620. • No PMI – PMI (private mortgage insurance) is required for any loan where the loan-to-value falls below 80%. • Limits on Fees – VA borrowers are protected by strict limits to fees and closing costs. Lenders financing a VA loan cannot charge more than 1% for loan costs whereas typical financing can run as high as 2.4–3%. • Appraisal Assistance – At times homebuyers run into problems when the appraisal does come back high enough to purchase the home at the agreed-upon price. When this happens, the VA can help by diligently reviewing the report and comparable properties and then asking the lender to adjust the appraisal if it determines that the value is not accurate. The VA loan is a special loan program offered only to our active and retired military. These families have sacrificed so much for their country, the VA loan might be the only way these families can buy a home of their own in Connectiuct.

April 15, 2021

Jersey Mikes Subs In Connectiuct

Jersey Mikes Subs

Hours of Operation 10:00 Am- 9:00 Pm

Address 533 S Bored St Meriden CT 06450

Phone Number: 203-866-0016

It Started Back in 1956 in this actual storefront location and was originally called Mike's Subs. Mike opened the small shop in the sea-side town of Point Pleasant, New Jersey. You have to remember that in 1956, there were very few franchise restaurants or hamburger chains. No chain pizza, chicken or taco restaurants, either. In 1956, proprietors of mom-and-pop businesses would open their stores in basic storefront locations like you see here. To survive and thrive, they had to offer exceptional quality products, coupled with unparalleled service. In 1956, Mike was unique in that the product he was offering was a relatively new item in American society – the submarine sandwich.

Today In Connectiuct 

Peter Cancro is CEO of Jersey Mike's Franchise Systems Inc., overseeing more than 2,000 locations open and under development. Despite the title, Peter still jumps behind the counter to test his skills and demonstrate his passion for the product and the customer. He tries to instill that passion in every store he enters and with every franchisee he meets.

Today, the authentic taste – served Mike's Way® with lettuce, onions, tomatoes, oil, vinegar and spices – is available nationwide. Our secret? Everything about Jersey Mike’s is high quality. Our MSA Grade top round beef are trimmed and cooked right in the store. Our meats and cheeses are all top-quality premium brands. Our bread is fresh-baked each day on the premises. And of course, everything’s prepared right in front of you. It’s what makes Jersey Mike’s the most authentic tasting submarine sandwich available, and it’s a tradition of quality we’ll never outgrow.

Jersey Mikes has a big varitey of Subs to pick from. Hot Subs and Cold Subs

Couple of examples for there cold subs. Jersey Shore Favorite, Ham and Provolone, The Veggie, The Super Sub. Turkey and Provolone, Tuna Fish,

Couple of examples for there Hot Subs. **New** Grilled Portabella Mushroom & Swiss, Mikes Famous Philly, Chipotle Cheese Steak, Big Kahuna Cheese Steak, Mikes Chicken Philly. Jersey Mikes also include Kids Meals and Catering.

April 14, 2021

Stater Home Tips In Connectiuct

New homebuyers in Connectiuct often tell their agents that they are looking for their “starter home.” Several factors go into this approach. These are typically younger buyers, often without children. They may be looking for a maintenance-free home, like a condo, or they might assume that starter homes are more budget-friendly. There are plenty of good reasons to buy a home with the assumption that it’s only for a few years, but it’s usually wise to consider the fact that it might be for much longer. As 2020 demonstrated so clearly, things can change without warning. Homebuyers choosing a small condo with the intention of living in it for only a few years might later find themselves trying to carve out space for children due to employment challenges or market changes. The good news is that many times— once you add in association fees, taxes, and other costs—an older home that needs updating could be just as economical as a brand-new condo with all the latest design features. When buying your first home, it’s important to consider how you would manage if you needed to stay longer than expected. An older home might offer a yard where you could expand, or extra rooms which can become bedrooms. These options can give you flexibility as your lifestyle changes over the years. If you buy your first home with the future in mind, you can protect yourself from the unexpected income changes, real estate price booms, or any other outside influence. Don’t discount the older fixer-upper simply because you plan to move in a few years—plans change, and giving this some prior thought can help you adjust more painlessly in the future.

Posted in CT Buyer Tips
April 13, 2021

Can You Sell an Outdated House In Connectiuct?

Can You Sell an Outdated House In Connectiuct? It seems that everywhere you turn there are companies who advertise buying ugly houses. These messages offer to quickly buy any house, regardless of the condition. The problem is that their offers are often significantly below market value. If you’re a seller whose home needs some attention, you might think these companies are your only option. Some of the offers sound attractive; quick sale, all cash, no commissions, and no fees. But before you do anything, it’s worth your time to call a local real estate agent for a second opinion. 3 Reasons to Call a Real Estate Agent Now 1. Free Advice – The real estate agent will not charge you anything to simply come look at your home. 2. Your House Might Not Be that Ugly – You may be surprised to find that your home is quite marketable. A few years ago, a 1950s mid-century modern home would have been considered a tear-down. Now, these ranch homes command top dollar and are in very short supply. 3. A Path Forward – If your home does have some issues, the agent can offer some ideas about moving forward. They can suggest local contractors to provide repair/upgrade services or market to investors that might still offer significantly higher prices than the quick-sale guys. Even outdated houses sell. We are in a seller’s market in almost every part of the country. Selling your home has a large financial impact on you and your family. Don’t make assumptions about value, reach out to a real estate agent, and make sure you understand all your options so you can get the best offer possible.

April 12, 2021

Things To Consider Before Buying a Home Together In Connectiuct

Things to Consider before Buying a Home Together In Connectiuct. It used to be that couples first got married, and then bought a home together. No more! Modern couples no longer consider marriage a prerequisite for buying a home together. Buying a property together can complicate either a breakup or a divorce if not considered upfront. No one likes to think about the end of a relationship, but buying a home is a huge investment – not only in the relationship but financially. The partners may have differences in income, down payment, and contributions to the home. In the event of a separation, how will these issues be addressed? In other words, what happens if you break up? The easiest way to ensure that everyone is protected is the title. Most married couples opt for Joint Tenancy that provides each homeowner an equal interest in the value of the property. The assumption is that marriage involves a merging of income and assets. For couples who plan to keep their finances separate, a better option could be a Tenancy in Common. This form of title provides each owner with a separate, transferrable interest in the property. The interest does not need to be equal to the other; this could give one a larger interest if they contribute more financially. The interest can also be sold or inherited separately. Don’t let the excitement of a home purchase keep you from considering the future in Connectiuct. Before closing on that dream home together, consider the exit strategy

April 9, 2021

Lastest Jobs Report: What Does it Mean for you & the Housing Market In Connectiuct

Lastest Jobs Report: What Does it Mean for you & the Housing Market In Connectiuct?

Latest Jobs Report: What Does It Mean for You & the Housing Market? | MyKCM

Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000 jobs in March – well above expert projections of 650,000 to 675,000. The unemployment rate fell again and is now at 6%.

What does this mean for you?

Our lives are deeply impacted by our nation’s economy. The better the economy is doing overall, the better most individuals in the country will do as well. Here’s a look at what four experts told the Wall Street Journal after reviewing last week’s report.

Michael Feroli, JPMorgan Chase:

"The powerful tailwind of the reopening of economic activity appears to be gathering force; while the level of employment last month was still 8.4 million positions below that which prevailed before the pandemic, it is reasonable to expect that a majority of those lost jobs will be recouped in coming months."

Mike Fratantoni, Mortgage Bankers Association:

"We fully expect that this pace of job gains will continue for months, and anticipate that the unemployment rate, now at 6%, will be well below 5% by the end of the year."

Paul Ashworth, Capital Economics:

"With the vaccination program likely to reach critical mass within the next couple of months and the next round of fiscal stimulus providing a big boost, there is finally real light at the end of the tunnel."

Jason Schenker, Prestige Economics:

"People are getting back to work and the vaccine isn't just inoculating the population, it's clearly inoculating the economy."

What does this mean for residential real estate?

Today, the biggest challenge for homebuyers is the lack of homes currently for sale. With listing inventory down 52% from a year ago, bidding wars are skyrocketing. As a result, home prices are climbing.

One answer to this challenge is to build more homes to satisfy the demand. The latest jobs report gives hope for new housing construction, and therefore brings hope to buyers as well. Here’s what three industry economists said about the increase in construction jobs revealed in the report:

Lawrence Yun, Chief Economist, National Association of Realtors:

"Construction jobs boomed in March, one of the largest monthly gains ever. This raises the prospect for more home building and more inventory reaching the market in the upcoming months. The housing market has been hot with fast rising home prices but has been constrained by a lack of supply. By hiring more workers and building more homes, home prices will move to a manageable level to give more Americans a shot at ownership.”

Odeta Kushi, Deputy Chief EconomistFirst American:

“Great jobs report for a housing market in an inventory crisis. Residential construction building jobs increased 3.9% from pre-2020 recession peak in Feb. 2020. The construction industry remains a labor-intensive industry. We need more hammers at work to build more homes.”

Robert Dietz, Chief EconomistNational Association of Home Builders:

“Good job numbers in March for residential construction. 37,000 gain from Feb to March. 3.03 million total employment for home builders and remodelers, and up 49,100 from Jan 2020.”

Bottom Line

An improving economy with a falling unemployment rate will benefit households across the country, as well as the overall housing market.

Posted in Home Owner Tips
April 8, 2021

Don't Sell on Your Own Just Because It's a Sellers Market In Connectiuct

Don't Sell on Your Own Just Because It's a Sellers Market In ConnectiuctDon’t Sell on Your Own Just Because It’s a Sellers’ Market | MyKCM

In a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. When the inventory of homes for sale is as low as it is today, buyers are eager to snatch up virtually any house that comes to market. This makes it even more tempting to FSBO. As a result, some sellers think selling their house will be a breeze and see today’s market as an opportunity to FSBO. Let’s unpack why that’s a big mistake and may actually cost you more in the long run.

According to the Profile of Home Buyers and Sellers published by the National Association of Realtors (NAR), 41% of homeowners who tried to sell their house as a FSBO did so to avoid paying a commission or fee. In reality, even in a sellers’ market, selling on your own likely means you’ll net a lower profit than when you sell with the help of an agent.

The NAR report explains:

FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $217,900 in 2020 (up from $200,000 in 2019), and still far lower than the median selling price of all homes at $242,300. Agent-assisted homes sold for a median of $295,000...Sellers who began as a FSBO, then ended up working with an agent, received 98 percent of the asking price, but had to reduce their price the most before arriving at a final listing price.”

When the seller knew the buyer, that amount was even lower, coming in at $176,700 (See graph below):Don’t Sell on Your Own Just Because It’s a Sellers’ Market | MyKCMThat’s a lot of money to risk losing when you FSBO – far more than what you’d save on commission or other fees. Despite the advantages sellers have in today’s market, it’s still crucial to have the support of an expert to guide you through the process. Real estate professionals are trained negotiators with a ton of housing market insights that average homeowners may never have. An agent’s expertise can alleviate much of the stress of selling your house and help you close the best possible deal when you do.

Bottom Line

If you’re ready to sell your house this year and you’re considering doing so on your own, be sure to think through that decision carefully. Odds are, you stand to gain the most by working with a knowledgeable and experienced real estate agent. Let’s connect to discuss how a trusted advisor can help you, especially in today’s market.