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Dave Carr's Blog

By David Dave Carr | Agent in New Haven, CT

New Haven Connecticut --Top Twenty Foreclosure Market in 2013

New Haven Connecticut --Top Twenty Foreclosure Market in 2013___By David Carr, Licensed REALTOR since 1996
  • New Haven was recently referenced as one of the 20 Best places to buy Foreclosures in the USA
  • a)_New Haven was rated 9th of 20 with the greatest increase in foreclosure activity in 2012 (54%). This number is significant since all the areas identified as poor foreclosure markets have decreases in activity______
  • b)_New Haven was rated 10th of 20 in the Ratio of Foreclosure to Normal Sales (14%). This number is significant since it is a smaller percentage than the 80-300% seen in other recovering MetroAreas_______
    c)_Finally and Most Importantly, New Haven had the Lowest and Best MSI (Months Standing Inventory) of NINE.  A MSI of 6 is customarily considered in balance, so this last and best fact may hold strong promise for the long awaited increase in values.______
  • Connecticut has trailed the country in housing market recovery with 20 straight quarters of price decline, only recently posting an increase in 3Q-2012. Even though Connecticut saw a 3Q-2012-increase, New Haven continued the decline.________
  • With the current FHA 30 year mortgage rates around 3.25% today, and the history of low inflation, this may create a attractive financing and long term investment platform for certain educated individuals._____
  • Conventional financing has become a struggle for many due to strong FICO scores and significant down payment requirements_____
  • Mr. Carr materially participates in the Southern Connecticut Market as a full time REALTOR associated with Coldwell Banker, consulting with buyers, marketing property and evaluating technical indicators
  • Copyright 02/02/2013 All Rights Reserved By David Carr, Licensed REALTOR since 1996.


Comments

By Timothy M. Garrity,  Sat Feb 2 2013, 08:25
Thanks for sharing your local information.

Timothy M. Garrity - REALTOR | http://PhillyUrbanLiving.com

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