29 Idywood

This 3 bedroom 1 and a half bath home is a 1970’s split in Northford. It is available for immediate occupancy and looking for a new owner who has some vision and appreciates a private rural setting.

Hardwood floors in the bedrooms and the living room are in great shape. The roof was new in ‘04.

Well and septic service this home and the heating system is electric (Wallingford.)

Call for further details and a private showing.

Affordably priced at $199,900

Lucy Hazel

We welcome Lucy Hazel Waggener to the family.

A beautiful little lady, and not quite ready to buy her first house yet.

Follow her story here.

Best wishes

Find a few of your favorite songs here.

Enjoy.

Too big to fail

What does Lehman and Merrill and AIG and Fanny and Freddie have in common?

They all know how to lose money big time.

Some, it seems are too big to fail.

How about you, what size are your debts?

You may be eligible to get propped up like some of these institutions if you are saddled with obligations in the nefarious underworld of inter-twined and financially complex derivative markets. If not, it’s likely that you will be on your own.

I hope you are doing well; the government continues to step to the plate on our behalf. As taxpayers,they expect us to assume the financial responsibilities of these mismanaged companies that have made bad investment decisions.

The recent manipulations this past week are like a band-aid on a badly severed limb.

The real estate industry has enough headaches already, but without adequate capital, it is difficult to imagine the housing situation improving anytime soon.

As housing goes, so goes the country. Let’s see what the “rtc” model has to offer before we draw any conclusions.
Can’t shrug this one off, Atlas.

The credit markets have made it clear that risk is now the enemy.

I read an article today that suggested that many Seniors are significantly in debt, and the trend is escalating. Health care and soaring medical bills have forced an increase of 150% in bankruptcy filings since 1991 to 2007 for adults aged 65 and older.  Worse, bankruptcy for seniors 75 to 84 skyrocketed to 433%.

The Hope Now Alliance has tried to help borrowers out of their troubles, but the pace of assistance has been quite slow.

Additionally, Realtors are focusing on Gen Y, as they have been mostly priced out of the market until the last few years, and are likely to be first time home buyers without the baggage of owning an over-valued property.

Tough Times Never Last, but Tough People Do.

If you know someone who needs help, especially a senior citizen, please give them my phone number 203-466-1500. They may not be computer literate.

More importantly, they may not know how to help themseves. I am old enough to have experienced a similar market in the late 80’s, and will do my best to provide some guidance.

The consultation is free.

Not missing in action.

The media continues to barrage us with daily reminders of just how bad things are.

Unfortunately, I still believe them.

Perhaps most chilling is the latest from Yale economist Robert Shiller.  His take is more bearish than most, but he is well respected and his insights should not be taken lightly. 

If moving is in your plans, these locations offer opportunities, especially to first time buyers and renters who side-stepped the meltdown.

Now is no time to be a hero. Pare down debt, and be conservative.

Noah didn’t wait for it to start raining before he built his arc.

We shouldn’t either.

These days I guess he seems to be more of a psychiatrist then a barber. “Everyone is depressed, complaining they have no money and can’t pay the bills. It’s no fun.”

And I am thinking, imagine how lucky we are, what would it be like to live in a third world country?

Listening to all the anger and frustration, he is witness to the beginning stages of what I believe is more to come. Buyers just don’t seem to have any urgency, or capability, as they wait for prices to fall some more.

The banks, and then everyone else, will also be taking a haircut on their property. It is inevitable that prices continue to soften with more inventory becoming available.

Like they say, please don’t shoot the messenger.

Keep your sense of humor, and look for ways to cut your expenses, increase your income, and save for that rainy day.

Lets get real

In addition to homes being priced more fairly, the local realtors have finally figured out that information is freely available today, so they have joined the online revolution big time.

Instead of having to wade through multiple sites, use this link to access a majority of the MLS listings throughout the state. This is a huge benefit for the consumer, as well as for agents specializing in listings.

Bank foreclosures, preforeclosures, and short sale candidates are the norm today, a brutal turnabout from the go-go days of 2002 through 2005.

Temporary free money has a way of  creating a bubble, only understood as such in hindsight by most of us.

With an influx statewide of thousands of realtors who had no previous experience with market cycles, many homebuyers were urged to chase prices, for fear of missing out.

We have had experience with this kind of market before, if there is anything we can do to help, please let us know.

Additionally, here is something you can do to help.

Normally the spring market brings the real estate buyers out in force. Every year has a different characteristic to it, and this year promises to be no different.

Buyers who are serious about purchasing in this market should get pre-approved, free up available cash, get gifts from family and “season” it by putting it in their bank account.

With your pre-approval letter in hand, tour homes online, and then find a savvy real estate agent to help you wade through the pitfalls of this market. Buying bank property has it’s own inherent risks, make sure you don’t get in over your head.

If you are lucky, you find an undiscovered gem and negotiate swiftly with the seller. Your advantage is not having any competition. The minute you have another offer to compete with, you lose your edge.

The mantra of the savvy buyer is “be patient locating the right property, move swiftly when you find the right one.”

This market lacks humor. The pendulum always swings too far in both directions, or so it seems to me after all these years. Do the best you can, and don’t take anything too seriously. It’s not worth losing your health over these problems which shall also pass.