Nov. 10, 2008 - Connecticut Utilities Offering Free Home Energy Audits

If you have always wondered how energy efficient your home really is, then now is a great time to find out.  The Connecticut Energy Efficiency Fund  has teamed up with local electric and natural gas providers to provide comprehensive home energy audits to their residential customers (both homeowners and renters).  If you are a customer of CL&P, UI, Southern Connecticut Gas, Yankee Gas or Connecticut Natural Gas Company and you use either electricity or natural gas to heat your home, you are eligible to receive this service for free.  If you heat with oil, then you will have to pay a co-pay for the service (normally $300, it's just $75 for a limited time).  Either way, this is a great value.

The audits are performed by a authorized contractors who will spend up to 4 hours going through every inch of your home to find any possible energy leaks and fix them.  As part of the overall service they will:

• Seal up any drafts or leaks
• Install energy-efficient light bulbs, shower heads and faucet aerators
• Insulate water heaters and pipes
• Provide tips on how to improve your overall energy usage
• Let you know if you're eligible for rebates on energy-efficient appliances or insulation

Funds for the program are limited, so if you're interested in getting your home audited, you should act soon.  You can find more information and an application by going to your electric or gas company's website.

Our home is getting it's energy audit later this month, so I'll be sure to report on what I learned.  And if you have any great energy saving tips, feel free to share them here in the comments.

Oct. 2, 2008 - Getting Back on Track

The month of September has been crazy for me.  Between moving to a new house, going on a wonderful family vacation and Rosh Hashanna, my schedule is completely out of whack.  Many things, including this blog, have fallen by the wayside, but I'm getting back to business.

Early next week I'll be posting my regular Monthly Market Update and a special Quarterly Market Trend Analysis to see where the market has been so far this year. 

Now as far as where the market might be going - well that's something I'm going to try and tackle also.  The only thing I know for sure is that all of the Wall Street wackiness is going to have a definite effect on Fairfield County.  Not only do many financial, banking and Wall Street-related firms have a presence here, but many people living here are (or were) employed by these firms so when they aren't doing well, it starts to cause problems in our local markets. So I'm going to weed through the national and local news stories to find information to help make sense of what's going on and how it relates to the local real estate market.

Along the way, I'll continue to highlight any other news stories or items that I think would be of interest.  Thanks for your patience during my short hiatus.  I promise to have more good information coming along for you soon.

Sep. 11, 2008 - Programs to Help Connecticut Homeowners Keep Their Homes

I personally feel that the goverment of Connecticut has done a good job of taking action to help homeowners in crisis with real solutions to help them keep their homes.  They have created programs to provide qualified homeowners with bridge financing to get their mortgages back in good standing, gotten subprime lenders involved in restructuring or refinancing adjustable rate loans into fixed rate or other more affordable loans and made lots of information available to the public so they know what options are available to them.

As part of these efforts, the state government is sponsoring a series of forums this Fall where homeowners can meet with state officials, loan officers and assistance agencies to not just learn more about their options, but actually take steps to help them keep their homes and get back on better financial ground.

The forums will provide homeowners with:

• Information about the Connecticut Fair Alternative Mortgage Lending and Educational Services (CT FAMILIES) program, which was created to provide ways for homeowners convert their high-rate adjustable mortgages to fixed mortgages. 
• Opportunities to meet with Representatives from the lenders that made their suprime loans to work out payment agreements or restructure the loans to make them more affordable.
• Details about Connecticut's Fair Housing and Predatory Lending Policies to make them more savvy consumers.
• Assistance from Utility companies for homeowners struggling with high energy costs.
• Helpful financial guidance such as, other Refinancing Programs, Financial and Credit Counseling and Delinquency Intervention.

Here is the schedule of the forums:

• September 20: Windham Middle School, 135 Quarry St, Willimantic
• September 27: Bennie Dover Jackson Middle School, 36 Waller St, New London
• October 4: Vernon Middle School, 777 Hartford Turnpike, Vernon
• October 18: Bridgeport Town Hall Annex Building, 999 Broad St, Bridgeport
• October 25: Southend Senior Center, 70 Canterbury Street, East Hartford
• November 1: City Hall, 125 East Ave, Norwalk, 3rd fl Common Council Chambers & Atrium
• November 15: Meriden – Location TBD

For more information about these forums, or if you can't attend the one near you, call the Connecticut Housing Finance Authority (CHFA) at 877-571-2432 or visit their website at http://www.chfa.org (there's lots of great information on the site for anyone who owns, or is thinking about buying, a home).

Aug. 26, 2008 - Tips for Making a Smart Move

With my family's move just 3 days away, I've been keeping track of what planning steps are working and what things we could have done to save ourselves some hassle.  Here are my top tips:

1. Start a Notebook.  Moving involves many details and writing them all down in one place has helped us keep our heads on straight.  If you can find a notebook with tabs, set up separate sections for each phase - before the move, moving day, to do at the new house, to do at the old house, etc.
2. Measure Everything.  Keep a tape measure handy and measure your furniture, the rooms in the new house and all of the doorways the furniture needs to fit through.  We're moving into an old house and had a rude awakening when we realized that our couch wouldn't fit through the doorway and our box spring won't make it up the stairs.  It's an inconvenience, but at least we know about the problems ahead of time so we can plan for them (yes, we bought a new couch).
3. Pack Anything You Can Live Without for a While.  If you start packing anything you won't need for a while, you'll save yourself a lot of late nights the last few days before the move.
4. Keep Track of Your Expenses.  Get estimates for any work you need to have done before, during or after the move so you know how much money you'll need to get through it all.  Be sure to set aside extra funds for the unexpected (a new couch?!) and tips for movers, etc.
5. Get Referrals for Reliable Professionals.  Ask friends, family or your REALTOR for the names of any service people that you'll need to make your move go more smoothly.  Getting a referral will make you feel more confident that you will get the service you need when you need it.
6. Keep the Cleaning Supplies Handy.  The previous owners/tenants of your new home should have left it in "broom clean" condition for you, but what they consider "broom clean" might not suit you.  So keep all of your cleaning supplies handy or arrange to have a cleaning service get everything spotless for you the day or morning before you move in.
7. Gather Lots of Boxes & Packing Supplies.  If you're getting boxes from your movers, have then deliver them early (see #3 above), along with lots of tape and packing paper or bubble wrap.  If you need boxes, ask at your local supermarket, liquor store or other store to see if you can pick up boxes before they crush them for recycling.  Also start saving newspapers or ask if the supermarket will give you their leftover papers.  Newspaper makes great padding for packing delicate items.
8. Pack by Room or Category.  Keep like items together when you pack them in boxes and label each box with the contents and name of the room that they go into in your new house.  That way you'll be able to easily tell which box goes where and figure out which boxes to open first when you're unpacking.
9. Keep Your Valuables with You.  If you have valuable jewelry, treasured collectibles or important paperwork, pack them into boxes or suitcases and take them with you in your car when you move.  Moving companies are insured and responsible, but it will make you feel better to know that your most important possessions are under your control throughout the move.
10. Take Breaks.  Don't forget to eat, drink lots of water and just relax every once in a while.  The last thing you want is to get hurt or too exhausted.

I'll be sure to let you know how all of our planning works out.  If you have any great moving tips that I haven't thought of, please feel free to post them in the comments.  It would be great to get your input.

Aug. 14, 2008 - Can A Buyer's Agent Save You Money?

There's a great article in the September 2008 issue of Consumer Reports Magazine about "How to Protect Yourself in Today's Rocky Real Estate Market."  It explains the results of Real Estate section of the Consumer Reports National Research Center's Annual Questionnaire of readers that included responses from thousands of readers who either sold or tried to sell a home, bought a home, or both bought and sold a home in the past year.  It brought to light some interesting facts that both confirmed and refuted common Real Estate ideas.  I highly recommend that you pick up the issue or read the article online (some parts of their website require a paid subscription) if you're thinking about buying or selling a home in the near future.

The part of the article that I found to be most interesting was the following:

• The 66% of the readers who used a real estate agent in buying a home paid an average of $5,000 less than the listing price
• The 34% of buyers who negotiated their own deals, without an agent, paid close to the asking price

So the buyer's who used a buyer's agent paid less on average than the buyers who chose to go on their own.  And not only did they save money, but in most cases they likely didn't pay a penny of their buyer's agent commission out of their pocket because the commissions were paid by the seller.  How's that for a great deal?  Where else can you get the assistance of a knowledgeable industry expert without paying for their services and save money?

If a buyer is using the Listing Agent (Seller's Agent) to negotiate on their behalf, then they are not having their best interests represented.  The Listing Agent is contractually bound to represent the best interests of the seller at all times, which means they cannot advise a buyer on what price to offer on the house (except the list price) and they don't need to keep any information a buyer reveals to them confidential.  So it's no wonder that the buyers in the Consumer Reports survey that choose to go it alone ended up paying more than buyers who used an agent.

In Connecticut, a home buyer has the right to have an Exclusive Buyer's Agent represent them in their home purchase.  So be a smart consumer and take advantage of the expertise that a Buyer's Agent can offer you on one of the most important (and expensive) purchases you'll make in your lifetime.  But don't use just any agent, be sure to find a Buyer's Agent who will provide you with the information you need to make an educated decision and will work hard for you before, during and after your purchase.  And remember, your Buyer's Agent works for you, so be sure to let him or her know what type of service you expect and don't be shy about telling your agent if they're not meeting your expectations.