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Essex : Real Estate Advice

  • All10
  • Local Info0
  • Home Buying5
  • Home Selling0
  • Market Conditions1

Activity 11
Thu Jun 4, 2015
James Leo answered:
Call Tom Boyle, Boyle associates. Madison CT, Tom is an excellent appraiser and knows the Essex
Area.

Another Appraiser I would recommend is Carla St Pierre, Old Saybrook, Ct

I live in Essex and have been selling Real Estate for 17 years in Essex. I Work for Coldwell Banker,
and my cell 860-227-5975. Any questions, give me a call
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Tue Jul 31, 2012
Joyce DeFord answered:
What are your dates and budget? Would you like beach access and/ or boat access? I'll email you with some potentials and you can answer my questions there. It's a great time to be away from Florida and enjoy our fall weather, hope I can help :) ... more
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Wed Apr 18, 2012
Lmvalkiria answered:
My husband and I, are looking for a place to stay August, September and part of October. It could be a small furnished house, apartment or efficiency, around Chester, Essex, Old Saybrook, Westbrook, Madisson Connecticut area. My E'mail is : Lmvalkiria@yahoo.com ... more
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Tue Jul 19, 2011
Jeanne Bailey Associates answered:
It sounds like you have several questions regarding agency representation, payment is only a part.
In our state, we have agency relationships for buyers and for sellers. This provides for you to be able to hire an agent to work on your behalf in the purchase of a home. It is much more than just showing you the home, it is assisting you with financing, home inspections, etc, it is advising you as to property values by doing a market evaluation as to what homes like the one you might be interested in purchasing are selling for so that you may make a wise decision as to what to offer and ultimately pay for a home; your agent should be acting on your behalf, looking out for your best interests in the search for and finally the purchase of your new home. The sellers agent will be doing the same thing on behalf of the seller.
Payment of commission is typically paid by the seller out of the proceeds of the sale of their home. They pay the listing broker, who in turn, according to the multiple listing regulations, pays the buyers broker. There are circumstances, where there may not be a listing agent, or commission paid by the seller, such as a home that is a for sale by owner, in these cases, you would be responsible for paying your broker. The fee can be included as a credit to you from the seller at closing towards paying the commission. Obviously this is a short explanation with more details. You should make an appointment to interview, yes interview, agents to work on your behalf. Choose wisely and carefully. Purchasing a home is a big step, have an experienced, professinal full time agent in your corner. As a boater, i will use the terms that navigating today's choppy waters of home purchasing require someone with the experience and expertise to help you make it happen.
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Sat Mar 26, 2011
Elizabeth Herbert answered:
I cannot answer about the tenants, but it says that the parking is 2 assigned spaces in a lot.
0 votes 1 answer Share Flag
Sun Jan 30, 2011
Mick Marsden answered:
It's really a matter of personal finances and your tolerance to risk. Sure if you find a place here in CT and want to act I'd be asking if you can really carry properties comfortably to start. I'm assuming you really don't need the equity from the OR sale or you wouldn't be asking the question at all. The other question is how long does your listing agent think it will take to sell your OR home? Although you can always play the hubbard clause card which is making the purchase contingent on the sale of the OR home, you're in the weakest negotiating position you could place yourself in, in this buyer's market. So assuming you can carry both properties and you don't the need equity to close on the CT home...it's OK. ... more
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Sun Oct 3, 2010
Jeanne Bailey Associates answered:
Many times, when buying a home from a bank, the paperwork needed is generated by the bank and available to your agent. Basically, you would need your letter of pre-qualification for the loan, a deposit, the purchase and sale agreement, an initial deposit of usually $500-$1000. A second good faith deposit would be required after an agreement has been reached and finalized.
In the event that this bank does not require use of their own paperwork, a standard Board of Realtors sales agreement would suffice.
This is just a "tree top" overview of the process. The best way to start is to hire an agent to work for you and explain in detail the process. Your agent would also help you determine a good offer price and how the negotiations work. By the way, that agent could be me or any other Realtor you have interviewed and/or spoken with who you feel could help you best.
You can visit my website and click on the link that offers information about all the communities in Connecticut. Essex has always been rated as a fine community by several different sources, including Connecticut Magazine, in their annual reviews of the towns. They base their opinion on crime stats, quality of life, schools etc. click on:http:// jeannebailey.com.
Hope this helps.
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Fri Aug 6, 2010
Dan Cummings answered:
Assume you had a little cut and paste error here. In any case specific questions about a homes operating cost are most likely better addressed after seeing the property and deciding if it meets your needs. Utility costs vary widely depending on the lifestyle and family size of the current occupants. ... more
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Tue Mar 2, 2010
Maureen O'Grady answered:
Hi Obie,
Currently in Essex the absorbtion rate is 22 and 1/2 months. A healthy market has a rate of between 4 to 6 months. It is difficult to pin point the exact apex of the Essex market. In general the 3rd and 4th quarters of 2005 and all of 2006 prices were rising and then stabilized. In 2007 prices ever so slighly began to fall. By the end of 2007 prices had stabilized again however the number of sales was declining. In 2008 the number of sales continues to decline as did the price point of the sales. 2009 saw declining prices with the majority of sales occuring in the under $300,000 range. From 2005 to 2010 Essex home prices are down 28% to 30%. The number varies depending on the price point for the property. Generally the higher the perceived price in 2005 the greater the decline.
I hope this has helped you.
MAureen O'Grady
Broker/Principal
Rachel Thomas Associates
860-767-8635
... more
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