CTMLS Says Goodbye to the Hubbard Clause

New Appraisal Standards Complicate Real Estate Market

Central CT Real Estate Market in Review - Money Party Officially Over

REMAX.com Redesign
RE/MAX International just rolled out a newly redesigned and improved REMAX.com. A few things I like: You can view comparable sales and even request a comparable market analysis. There are articles for home buyers and sellers. Listings show large photos and a photo slider. You can request a showing.

New Appraisal Standards Complicate Real Estate Market
The problem used to be that lenders and appraisers were too cozy. The lender hired an appraiser for the borrower and more often than not, the appraisal miraculously came in at the buyer’s purchase price. Appraisers felt pressure by their client (the lender) to justify the purchase price so as not to ruin the deal and lose future business. Buyers were skeptical because they thought the appraisal should be a completely independent opinion of price. In response to a lawsuit from the State of New York, Fannie Mae and Freddie Mac instituted new appraisal guidelines in May 2009 called the Home Valuation Code of Conduct (HVCC).  The new code prevents local mortgage brokers

CTMLS Says Goodbye to Hubbard
Beginning June 24th, CTMLS, the multiple listing service that serves most of CT, will finally do away with the Hubbard (HUBRD) status for listings. All I can say is…finally! Actually, I can say a few more things. If you don’t know about the Hubbard Clause - HUBRD refers to properties that have been sold to a buyer who needs to sell an

Don’t List Your Home For Sale on Monday…If You Want to Stand Out in Greater Hartford Real Estate
Monday night, I was looking at new listings and it seemed to me that there were a lot of new listings.  88 condos and single family homes in the Greater Hartford area. Just for fun, I looked back one month. With the exception of Memorial Day, May 25,  the highest number of new listings was always on a Monday. One of several homes in your neighborhood for sale?

Buying Real Estate Always Involves Compromise
In this market, buyers have a lot of choices. But even in a down market, with many homes to choose from, home buyers have to make compromises. Most home buyers that I meet have a list of things they want in a home. There are the “must-haves” and the “like-to-haves.” When we begin looking at homes and matching their “must-haves” to their price range, compromises are needed. I often tell clients, “even people looking at million-dollar homes need to make compromises.” It’s not only about price range. Part of buying a home is education…showing buyers their options to pre