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Home Buying in Connecticut : Real Estate Advice

  • All288
  • Local Info23
  • Home Buying150
  • Home Selling33
  • Market Conditions6

Activity 1,780
Wed Jul 19, 2017
Dave_Angels asked:
I had a signed contract to purchase a home with a mortgage commitment date in it, but my bank was slow in getting the commitment to me before the deadline. I already had an inspection and…
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Sun Jul 16, 2017
monica cioffi asked:
my step mom passed away in 2015. her house, i'm guessing, went into foreclosure or got taken by the bank and i honestly don't know anything about this type of situation. who do i contact…
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Sun Jul 16, 2017
Kathy Burgreen answered:
You're not factoring 2 things which are critically important: Negotiating price and how long you intend to live there.

The seller for the older condo may be asking $30K less, but every realtor working with a buyer knows this price is negotiable. It's very easy to review the comparables and see if the seller can come down in price. It may be the asking price is what the current market is but it doesn't hurt to negotiate.

As for the new condo - is this from a builder or an individual seller? Builders who have new construction will NEVER negotiate on price. They need to make a profit + they don't want to set a trend by lowering a price for 1 home when they need to sell other homes for a higher price.
If the new condo is from an individual seller, find out if this seller bought it new from a builder. The issue is when buyers purchase brand new construction, then unfortunately need to sell within the first 4 years, these owners will lose money because once they move in, their "brand new" home is now being compared to older homes because they cannot sell it as a "brand new" condo anymore. These owners insist their condo is worth what they paid the builder for it - no it's not. It's an emotional frustrating experience that these sellers need to price their "new" condo lower and not what they paid for it. This means, as a buyer - you can negotiate for a lower price BUT if the seller bought it from a builder, be prepared that the seller will need to pay the difference on the loan they owe money and it may be difficult for the seller to sell their "brand new" condo at a loss. It typically takes about 5 years for brand new construction to catch up with older homes and gain equity.
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Sat Jul 15, 2017
Bbp12317 asked:
i signed the contract to be built new house and it is built and ready to close next week and now builder found off gasing and odor in basement. they are thinking it is because of floor joist…
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Fri Jul 14, 2017
Annawhit33 asked:
My Husband and I are first time home buyers, we make 115/yr combined, our debts each month are pretty low - 200 student loan, 300 for a personal loan, and 150 for a furniture credit card.…
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Thu Jul 13, 2017
Acewert3 asked:
Fri Jul 7, 2017
Kathy Burgreen answered:
I believe you meant to say "Buyers Brokerage Agreement" instead of "purchase agreement" because your question is confusing. Are you referring to the agreement you signed during your 1st meeting with your realtor? I know in CT, buyers are required to sign a Buyers Broker Agreement during the initial meeting with their realtor. This is not a purchase agreement. This is an agreement between you and the brokerage who will represent you during your real estate transaction. A buyers brokerage agreement is to protect the realtor and brokerage so they will get paid when you do buy a home. It also protects you because it outlines what the responsibilities are.

At this point, exactly what is the issue? Did you find a home and submit an offer yet? Did your realtor show you homes and none of them meet your satisfaction - no offers submitted? Did you have a falling out with your realtor?

The Office Manager / Broker in Charge where your realtor works at, can assign you a different real estate agent within that brokerage. You don't have to stick with your realtor. You can also switch brokerages BUT any home that was shown to you by your former realtor will have to be disclosed to your new realtor so they can get paid. Otherwise in CT, if you buy a home with Realtor B and the same home was shown to you by Realtor A, you will owe a commission to Realtor A - and yes realtors do track it by the MLS system.
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Thu Jun 29, 2017
Joe.scutnik asked:
Thu Jun 29, 2017
Kathy Burgreen answered:
Listing agents will always defend their sellers and claim there is nothing wrong with the house. In this region, it's very common because homes are sold "as is". However, I do have an issue with the listing agent cancelling your contract and putting the home back on the market. Are you working with an attorney? I would not sign the release form yet - hold off. The listing agent cannot put the home back on the market until you sign the release form. At this point, I would instruct your agent to start yelling at the listing agent and state you refuse to sign the release form and you want to negotiate the inspection issues. If the listing agent refuses, tell your agent that he/she will contact the Office Manager where the listing agent works at and your agent will have terse words with that Office Manager. ... more
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Tue Jun 27, 2017
Info answered:
Hi Tanyia,
You can look at www.MTA.INFO and they will have all the train stops in Fairfield county for you. Middle school districts you can look at It is a non profit helping parents with background on schools. Hope this helps. If you have any other questions please let me know.

Brad Hay
Blue Trail Realty
(203) 450-8095
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Tue Jun 27, 2017
Info answered:
Hi Fernando,
Each bank looks at credit scores differently. FHA loans do require a 580 credit score. There are many options when it comes to financing a home. If you have other assets or more money to put down that is always helpful. You can also have a family member co sign on the loan to have more flexibility.

Good Luck,
Brad Hay
Blue Trail Realty
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Mon Jun 19, 2017
Stanjean2000 asked:
Sun Jun 18, 2017
John Burke answered:
Hi Howard,

The short answer is not really. If anything a new inquiry on your credit report might cost you 2 or 3 points but that's about it.

Allow me to throw my hat in the ring.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online:
NMLS# 787231
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Thu Jun 15, 2017
Doverdpat asked:
Fri Jun 9, 2017
Bnazrin786 asked:
We are about to make an offer on house in condo community .Its been in market for 9 months may be.Its also income restricted until 2020. It was built in 2000 but has polybutylene…
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