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Market Conditions in New Haven : Real Estate Advice

  • All121
  • Local Info8
  • Home Buying50
  • Home Selling5
  • Market Conditions2

Activity 5
Thu Sep 19, 2013
Harriet Cooper answered:
It's difficult to make an assessment without seeing your home. Have you made any improvements, updated appliances, roof, furnace, septic? Your sq footage is a plus. In general home prices in Woodbridge have not appreciated since last year. However if there is something unique, location or style about your home you really just need one Buyer to appreciate it. Not knowing where your home is & the condition of the home I can't really predict the future. ... more
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Thu Mar 7, 2013
Chris Lovejoy answered:
The rental market in New Haven is excellent because of Yale and other Universities, so investing in a property with the idea of renting it later (or a multi-family that you can rent immediately) is a good idea. Unfortunately, your price range brings you out of the prime rental areas for these tenants.

Since this will be your primary residence, your interest rate can be very low (assuming you do not own another property). You may be surprised how low your mortgage might be, even if you increased your range a bit. You may want to speak with a mortgage professional to see if a higher price range makes more sense in that you can purchase something that will pay for itself in rental income. There are many two and three families that will allow you to do so and reside there.

Otherwise, purchasing a property does not make too much sense - the lower range in New Haven is still trending downward and once you add taxes and Realtor and Lawyer fees, you will likely do better renting.
... more
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Tue Mar 5, 2013
n.surprenant asked:
This question was asked from
0 votes 0 Answers Share Flag
Thu Oct 11, 2007
Stacey Brown answered:
I have a tool on my website which you can use. It shows actual sales data. Just enter your address and see what homes have recently sold for in your area.
1 vote 19 answers Share Flag
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