Archive for the ‘The Home Buying Process’ Category

It can be quite a challenge for new home buyers to uncover and take advantage of home buyer programs available to them. The organizations and resources included in this list can be invaluable before during and after a home purchase. Home buyer classes, counseling and more are here. Just remember, by learning about and taking advantage of some of these programs and opportunities, and “doing your ... Full story

Yikes! After all that work and money spent on home inspections, appraisals, and countless phone calls to your lender, Realtor, friends and family you get the dreaded call that the deal is dead. The house that you have been fantasizing over for the last few weeks will not be the home that you will ultimately call your home. Here are four rules that should help you ... Full story

Homebuyer’s remorse is the feeling that you’ve chosen the wrong house to buy, paid too much, or that the house has a major flaw. Unlike when you buy a pair of shoes, you can’t just bring your house back to the store and get something else. You own the house, and if it isn’t what you wanted, you will have to spend time and money ... Full story

Nobody buys a home thinking they’ll wind up in foreclosure at some point down the road. Unfortunately, the wave of foreclosures spreading throughout the country indicates how widespread this problem has become. In 2007 alone, there were more than two million foreclosure filings in the U.S., according to RealtyTrac Inc. During the ... Full story

Why should  you do a home inspection of your potential new home or condo. The answer is to uncover the major problems or unsafe conditions that may exist in your new home.  Purchasing a new or used home or condo is a big purchase and you should have someone inspect your home that is unbiased as to its condition. Selecting a Home Inspector When selecting a ... Full story

Condominium living has its advantages; however, it poses challenges as well. How can you know if a condo is right for you? How can you be sure to make the best choice? Condominiums are also called common interest communities. Connecticut common interest communities come in many shapes and ... Full story

The media coverage of the national real estate market has been overwhelmingly negative. We have less demand and more inventory, because of a reversal in the supply-demand curve. This phenomenon has occurred slowly over the last three years. The resulting drop in home prices has been significant. The banking industry has tightened credit, and far fewer buyers can now purchase a home. This action has ... Full story

In today’s economic climate, especially with what has happened over the past year with mortgage lenders, special programs from housing authorities have become more important than ever. Two such agencies are the Massachusetts Housing Authority (www.MassHousing.com) and the Connecticut Housing Finance Authority (www.CHFA.org). These two organizations have one goal: making home ownership possible. It is ... Full story

The Affordability Factor How can you decide whether or not you can afford to buy a home? The biggest part of house affordability is the interest rate because it determines your monthly principal and interest payment. Let’s look at a $100,000 loan amount, a thirty-year fixed rate mortgage, interest rates, and monthly payments. The table below shows the difference the interest rate can ... Full story

From Canton to Old Saybrook, towns can’t find enough volunteer firefighters because many potential volunteers can’t afford to live in those communities. In Falls Village, the new kindergarten class has only five children enrolled because young parents can’t afford to live in Litchfield County. In Groton, skyrocketing housing costs have caused the Pfizer ... Full story