The Kasey Group's Blog

Join us Sunday, April 26th for an Open House at

30 Summersweet Place(mls# 98412549) in Stratford, Connecticut

Just $592,500 for this stunning one of a kind 5,000 +/- Square Foot Custom Colonial featuring 13 rooms, 5 bedrooms, 3 1/2 baths, full in-law, elevator, and mechanic's dream garage.

Directions-Cutspring to Nutmeg to Summersweet

From Raveis.com to Listingbook.com it seems that all of the websites we use are coming up with newer and better ways to give us information but....

 Can there ever be too much information?

Here at The Kasey Group we like to give our clients weekly market updates.  We let them know how many showings they've had, what the feedback was, what internet activity there has been, and if any homes have come on/sold in their area. 

We recently discovered that almost every site offers a graph showing where activity is coming from.

Raveis.com, Listingbook.com, Visualtour.com, etc..  all offer our clients a breakdown of their internet activity.

 Last week we sent our clients a report that was generated from Raveis.com showing their internet activity and the response was overwhelming.  Shortly there after we sent them a report from listingbook.com detailing who was looking at their property and when.  Between our weekly update calls and the reports we send out we are in constant contact with our clients.

Can inundating our clients with all of this information be overwhelming?

The sun is shining, the birds are chirping, and homes are selling! 

Is it spring market or has buyer confidence started to return?  Either way activity in the Real Estate market has started to return. 

Since April 1st The Kasey Group has put 5 listings Under Deposit/CTS and 2 more of our listings have offers that are being negotiated.

With all that is being said in the news about the Real Estate Market it is important to share the positive Real Estate news with our clients and fellow Real Estate agents.

 The Kasey Group would like to hear more about the market conditions in your area. 

Share with us your postive Real Estate news!

Pronounced "fizzbo," a FSBO (for sale by owner) is a Realtor acronym for a property that an individual is looking to sell on their own.

To a certain extent, the notion may be driven by tough economic times. With equity evaporating in many markets, it might be a necessity for some sellers to go the DIY route. It is a question brought about by the perception of high cost for very little real work and a nagging sense that, hey, maybe I could do that.

Maybe you can. Maybe you shouldn't.
The market, motivation, familiarity with the process, knowledge of real estate law, disposition, time, and resources should all be considered before you begin the process of selling your own home.

The Market

They don't call them buyers and sellers markets for nothing, and, to a large extent, market conditions are often mostly local. A gripping nationwide recession, industry-wide job losses, and lenders' unwillingness to lend, tend to have nationwide implications. But, even at the darkest of times, there are pockets of prosperity where demand for housing is high. In most cases, even if you over or under estimate the price, the market will eventually catch up to you.

Not so in a declining market. If you don't get the price right, you will be chasing the market down. Before listing your own home, you need access to good current data about sales prices, market times, and activity. Assuming a modest sixty day market time, you still need to analyze past sales to determine what the value will be in 60 days or more, before a buyer commits.

If you are unrealistic about price, you have no chance. The notion that a prospective home buyer is going to stroll down your street and fall in love with your house is a fantasy. The objective is to price the home for a quick sale but not leave money on the table. It's a fine line that only an experienced professional, armed with facts, can determine.

Motivation

 
If at all possible, you should avoid selling into a buyer's market. If you do not have to sell, don't, unless you are doing so to buy something else. You also have to be willing to take the hit on your opinion of value and make it up on the bargain you are buying. If you must sell, be realistic about your situation and take your markdown sooner rather than later.

Familiarity with the process

There are two types of FSBOs; the ones who know it all and the ones who don't know anything, and it isn't uncommon for FSBOs to be engaged in the industry because they aren't intimidated by the process.

The process appears daunting because it is, but it isn't unmanageable. The basic issues are either contractual or regulatory, and there seems to be a tendency among novices to assume that selling real estate to someone is just like selling a used dishwasher.

As the seller, you will need to fulfill numerous legal and regulatory conditions applicable to the state in which the property is located. The consequences for failing to be in compliance are rather harsh. Before listing your home on your own, be familiar with the process and know the requirements for your state.

Knowledge of real estate law

Some sellers believe that because they are not licensed, laws and regulations do not apply to them. Ignorance of the law is a major hurdle. Unless they specialize, most attorneys don't know much about real estate law. On the other hand, responsible real estate brokerages make a practice of avoiding litigation by knowing and complying with the law. Today's real estate transaction files are an inch and a half thick and weigh three pounds, and it is all driven by caution. Know the law, or hire someone who does.

Disposition

Most people, even practitioners, haven't the proper disposition for selling real estate, let alone their own property. The job of real estate requires a lot of patience while you deal with prospective homebuyers, until one transforms into a paying client. People who are buying or selling real estate are under a lot of stress. There is the stress of uncertainty and the underlying events driving their decisions.

There is also a lot of raw emotion throughout the home buying and selling process. Well trained professionals do not surrender control of their emotions to events or the actions of others.

Time

Time is of the essence. It isn't just a legal phrase, you will need to invest time to market the property and be available to show your home and respond to any inquiries. Your time does have value which can be earned through the investment of the time in something profitable or the value of time for leisure and enjoyment. If the home doesn't sell quickly, you aren't likely to recoup the value of your time in savings.Being on the market longer won't get you a higher offer either; it will just eat away at your equity.

Resources

How will potential buyers know about your property? A homemade sign in the front yard is effective only if the potential buyer happens to drive down your street.

The best kept secret in real estate is that if the property is priced to reflect true market value and it is placed in the multiple listing service, nothing will stop it from selling. Sooner or later, every buyer turns to the MLS, if for no other reason than to prove to themselves that there is no better home out there. The challenge for a FSBO is to find a method as cost effective as the MLS.

Looking at the bigger picture, it is hard to imagine that someone would want to take the risks and the responsibility of selling for sale by owner unless they were certain they would net significantly more money upon closing. But, that rarely happens. Most, ultimately wind up engaging the services of a professional after wasting time and money. In a declining market, every month you don't sell means a lower market value. And, if you are making mortgage payments, each payment is lowering your net equity. A fast sale is the most profitable sale.

One thing you are likely to discover is that real estate practitioners produce more potential buyers then you will. In fact, those FSBOs who do succeed often wind up paying at least half of the brokerage fee to the broker who produces a buyer. So, at best, you won't be able to influence a higher than market value, you will likely pay a partial fee and, if that isn't bad enough, the buyer of a FSBO also intends to pocket the brokerage fee. Like so many things, it really is harder than it looks.

Before selling your own home, interview a few brokers and get their opinions of value and overview of the market. If one is particularly helpful, you might want to consider listing with them if the home doesn't sell quickly. And, remember what lawyers say, "Any attorney who would represent himself has a fool for a client."

Source:  RISMEDIA, March 31, 2009-

We just listed 138 Fayerweather Terrace in the beautiful Black Rock section of Bridgeport, Ct. 

In 2007 scenes were filmed on Fayerweather Terrace for Oprah Winfrey's film For One More Day based on the book by Mitch Albom and in 2008 filming took place for All Good Things starring Ryan Gosling and Kirsten Dunst.  This is not only a popular film location but it is also one of the most sought after streets in Black Rock.  This great family home offers three bedrooms, 2 full baths, eat-in kitchen with new ceramic tile floor, and a lovely backyard with new fencing and deck. 

It seems like the Spring Market is upon us, as Stratford is seeing a rise in homes that are selling!

In Stratford, for single family homes:

January saw 74 new listings and 29 homes going on deposit.

February had 85 new listings with 26 homes going on deposit.

March had 68 new listings with 34 homes going on deposit.

and, already for April,

22 homes listed and 18 have already taken a deposit!

Curious how The Kasey Group compares?

We have 27 homes under deposit/sold!

How does the town that you work in compare?

If you are purchasing a home or trying to find ways to lower your current mortgage payment then you should know that there are programs out there for you.

Looking to make a purchase?

As interest rates remain near the lowest level in decades buyers with strong credit and stable jobs are able to take advantage of low interest rates.  If you are a first time home buyer  you are eligible for an $8,000 tax credit that does not need to be repaid.

 "For purposes of the credit, you are considered to be a first-time home buyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase" http://www.irs.gov/newsroom/article/0,,id=204672,00.html

Interested in Refinancing?

On Thursday President Barack Obama urged families to take advantage of near-record low mortgage rates by refinancing their home loans.  A new plan has been set in motion to provide $75 billion in incentives for the mortgage industry to modify loans to help borrowers avoid foreclosure. The president encouraged people to take advantage of a government Web site-http://www.makinghomeaffordable.gov - to see how they can get help.

Check back often for information on interest rates.

Sources-IRS.gov and Associated Press

Is your listing being promoted?

In today's real estate market it is important to utilize the tools that technology has to offer.  William Raveis Real Estate prides itself on being a technologically savvy company and has made Raveis.com a globally recognized website that has been visited by almost every country and territory in the world. 

One of the advantages of listing with The Kasey Group of William Raveis Real Estate is knowing that your listing will be marketed to the fullest.  Raveis.com now makes it easy for us as agents to upload our listings to Facebook, LinkedIn, Twitter, and various other sites.  In doing so this allows up to get our listings maximum exposure. 

Making a move?

Although most people move within 12 miles of their home not everyone does.   The Kasey Group has worked with several families who have relocated out of state and some out of the country.  Raveis.com allows our clients to few homes nationally and internationally.  Check out more information at www.TheKaseyGroup.Raveis.com

Still looking for more information then Contact The Kasey Group at 203-378-8200

Forbes.com just released their list of America's Most livable Cities and Stamford, Connecticut was listed at #4.  Check out the article below or go to http://www.forbes.com/2009/04/01/cities-city-ten-lifestyle-real-estate-livable-cities.html?partner=email for the complete article.

America's Most Livable Cities

The beer at Gritty McDuff's might be enough to lure people to Portland, Me. Established in 1988, the downtown pub offers a smattering of small-batch ales brewed on the premises in addition to usual tavern treats. From the patio, customers can enjoy a pint along cobblestone streets or retire to the copper-topped bar for a second round.

Tasty microbrews aren't the only reason to like Portland. Thanks to high marks in five key quality of life metrics, Portland tops this year's list of America's Most Livable Cities.

"It's a very easy place to live," says Leon Perrin, 31, a manager at Gritty's. "It's small, so getting around isn't too much of a hassle. And it's a beautiful place throughout all four seasons."

Perrin, who has lived in Maine for 20 years, is one of 513,000 residents living the good life in the Portland metropolitan area. The region earned high marks for income growth and culture; it also has low levels of crime and unemployment. Residents can afford the relatively high cost of living because of a 6.3% income growth rate over the past five years.

Bethesda, Md., and Des Moines, Iowa., round out the top three, followed by Bridgeport/Stamford, Conn., and Tulsa, Okla.

Read the whole article at http://www.forbes.com/2009/04/01/cities-city-ten-lifestyle-real-estate-livable-cities.html?partner=email

The Kasey Group will be hosting an Open House this Sunday, April 5th

 from 12-3 at 4285 Main Street in Stratford, Connecticut.

Located in the north end of Stratford, Ct this beautiful home offers living room with fireplace, dining room with gleaming hardwood floors, and eat-in kitchen with stainless steel appliances. 

Listed for just $237,500 this home is a must see!

Directions:  Main Street-Directly across from Cutspring Deli