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Norwalk CT Property Sales Transfers June 1 - 15

11 Lockwood Lane
Edward & Lea Bassett to Angela Hartwell, $320,000

 10 Maplewood Terrace
Thomas & Laura Pippitt to Rocco Nicoletti, $351,300

 12 Tulip Tree Lane
Jennifer & Sean Smith to Lada Bukharina, $735,000

 71 Gregory Blvd
David Jenkins to Joshua Tofteland, $499,000

 2 Pettom Road
Nevil & Edwin Batres to Gravino & Palmina Demidio

 64 Ledgebrook Drive
National Residential Nominee Services to Olga Sergeyava, $325,000

 3 Nolan Street
US Bank NA to Carlos Chica, $270,000

 155 Witch Lane
Ford-Gerham Partners to Peter Cooperman & Rachel Walack, $525,000

 8 Taylor Avenue #5
Deutsche Bank National Trust Co to Robert Luz, $180,000

 28 Ambler Drive
David & Cherise Czaja to Przemyslaw & Beata Koniecko, $430,750

 75 Wolfpit Avenue
US Bank NA to Richard Silverstein, $279,000

 118 Dry Hill Road
Jen Yimei to Fanny Potes, $345,000

 36 Sniffen Street & 21 Slocum Street
The White Eagle Building Assoc Inc to Inglesia Hispana Tiempo DeCoecha Inc., $675,000

 5 Pumpkin Stem
David & Abigail Salvati to Richard & Allison Paul, $521,000

 188 Rowayton Avenue
Estate of Barbara Garfield to Karen Edgecomb, $1,200,000

 121 Main Street
Auguste & Silmonise Frederic to Johnny Lo, $240,000

 25 Grand Street Unit 65
Clocktower Close Assoc LLC to Elizabeth Gall, $202,950

 11 Ludlow Manor
Kai & Jessica Strasse to Stephen Bedwell, $620,000

 12 Sherwood Street
Joan Damato to Charles & Danielle Talisse, $550,000

 6 Jean Avenue
Brian Foley to Marta & Tomasz Lokaj, $372,500

 27 Starlight Drive
Gennaro & Rosanne Grimaldi to Mario & Julia Contacessi, $290,000
 

2 Yale Street
Victor & Amy Terenzio to Dominick & Ruth Lettera, $372,000

 15 Strathmore Lane
Johathan Harris to Gail Halvorsen, $392,000

 11 Norden Place #30
Matthew Bennett Jr to Sidney Otoshi, $164,438.00

 166 Chestnut Hill Road
Andrew & Gretchen Hilton to Robert & Jane Romagnoli, $582,500

 34 Ferris Avenue Unit B3
Woodbury LLC to Priscilla Sanchez & Andres Edison, $390,000

 100 Richards Avenue Unit 305
Hilary Oestreich to Judith Edwards, $339,000

 34 Gregory Boulevard
Barbara Andresen to Darryl Newman, $370,000

 1 Harbor Road
Anthony & Daria Ward to Daniel Malasky, $1,275,000

 307 Flax Hill Road
Gary James to James Screws, $197,000

 60 Carter Street Ext
US Bank NA trustee to William & Stephen DeLeo, $280,000

 212 Richards Avenue #8
Estate of Dorothy McSally to Bruce & Melissa Ellard, $584,000

 71 Aiken Street Unit M2
Angelo Mazzola & Gianni Montefuscoli to Nicole Querze, $290,500

 6 Redwood Road
Joseph & Maria Taylor to Denise Drake & Margaret Drenckhahn, $500,000

 173 West Rocks Road
Estate of Michael Koba to Brian Clark, $354,900

 1 Timberline Road
Theresa Kolenda to Michael Horicka & Ingrid Herickova, $385,000

 602 Foxboro Drive
Drury Phebus to Anne Marie Ramppen, $330,000

 21 Grey Hollow Road
Nathan & Camille Bailey to Beth & Darren Skott, $665,000

 40 Pine Hill Avenue
Richard & Jennifer Leparmentier to Noah & Rita Wilker, $665,000

 985 New Norwalk Road
Elinar & Ellyn Ulfsson to Andrew & Josephina Bell, $905,000

 16 Ells Street
Elizabeth Gordon to David McCarthy, $277,500

 4 Willow Street
Homesales Inc to Enid & Esteban Buitrago, $262,000

 100 Richards Avenue Unit 202
Darren & Beth Skott to Sachia Maheshwavi, $341,000

 37 Clinton Avenue
Dominic & Lorraine Tesauro to Dimitrios Nikiforos, $362,500

 41 Bluff Avenue
George & Susan Middleton to Arnold Rutkin, $2,500,000

 29 Van Buren Avenue Unit H11
Marc & Katia Pelerin to Latoya Lowery, $240,000

 32 Ivy Place
LNV Corp to Joseph Vincoli, $260,000

 11 Silk Street
Bank of America NA to Peter Boccarossa, $220,000

 7 Old Witch Court
Janice Garten to Robert & Elizabeth Hicks, $725,000

 7 Ledge Road
Dalton & Karen Edgecolmb to Andrew & Karin Howells, $2,025,000

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First Time Homebuyers 101

First Time Homebuyers - 101

 Doing research on how to buy a home is a serious time investment. There are plenty of ways to get this info on your own. Newspapers are a good starting point to find information by taking a look at the local property transfers. This can help you see what homes have sold for and how much activity is taking place in the town you are interested in. You can also do plenty of research on the internet. This is a great way to start compiling your information. The next thing that you want to do is find a great real estate agent. The best way to do this is through a referral from family and friends or you may meet a great agent through a weekend open house.

 There is no need to be anxious about what comes next. The process can seem so overwhelming. The first thing that you need to do is talk over your financing options with a qualified reputable mortgage broker or bank. You can discuss your down payment options and see which loan programs best fit your needs. Then you will have a starting point on the price range for your new home. Now you are armed with your information. Its time to go home shopping.

 Do you want to live in the city or suburbs? What are you looking for in home? Do you want a certain style? How many bedrooms? What home style do you like? Do you want a ranch, colonial, condo or high rise? Once you narrow this down, take a look and see what fits in your price point.

 Now you go out with your Realtor and start looking. You will probably see a lot of properties your first time out. Don’t get confused. I recommend bringing a digital camera to document each property. You should also take notes and pay attention to the home’s surroundings. Remember the old saying “Location, location, location”. After leaving each property you should rate them right away. This allows you to make an easy decision later.

 You found your home, now what? You make an offer through your real estate agent. There will be some negotiating back and forth. Finally everyone agrees to terms and price. You give a 1% binder check to show good faith that you are serious about purchasing the home. There will be an offer to purchase which has information about the property including dates and contingencies. This is an agreement on paper that will provide the attorneys information to create a binding contract. Next its time to hire a building inspector to look over the property for you and you need to hire an attorney. It’s best if you hire an attorney that specializes in real estate law. If everything is okay you will go to contract the next few days. This will be the legal and binding document that your bank will need to continue processing the loan.

 From this point on the bank and your attorney will contact you and ask you for all sorts of paperwork and documentation to complete the loan process. When you receive your mortgage commitment, its time to start dreaming about paint colors and decorating.

  This year there is the first time home buyers tax credit of $8000 for qualified buyers.

You must have a contract to purchase a home by April 30^th, 2010 and close on the home by June 30, 2010. Eligible properties can be purchased up to $800,000. There are income limits for first time homebuyers. Single home purchaser’s income can be up to $125,000 and married couples up to $225,000. There is a partial tax credit for incomes that are within $20,000 of limits. There is also a tax credit of $6500 for “Step Up” home buyers. These are just some of the basic terms. For more information please go to www.Bondirealtygroup.com and click on Home Buyers Tax Credit.

 2010 is a great time to buy. Prices are affordable and there are many homes to choose from. Mortgage rates are historically low and there is the home buyer’s tax credit. This combination should help stimulate the real estate market for the immediate future.

 Betty Bondi
Bondi Realty Group LLC

203-899-9990

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Real Estate News January 2010

State of the Real Estate Market 2010

  As a lifelong Norwalk resident and a realtor for over twenty years I decided to start my own company - Bondi Realty Group LLC. I felt that I wanted more flexibility in marketing and wanted to provide a more personal service & experience. We are a hometown family run business with many satisfied clients. We embrace each and every client with extraordinary customer service.

 

I am taking this opportunity to give you my professional opinion about our local real estate market. Through a series of articles I will bring you important information you should know. This will enable you to make an educated decision when the time comes to buy or sell your home.

 The real estate market has shown its sign of vulnerability over the last few years.

But right now is a perfect opportunity to buy. You have your $8000 first time home buyers credit, fabulous mortgage rates under 5% and bottom of the market prices.

There is also an incentive program for homeowners as well. If you have owned and occupied your home for at least five consecutive years you may be eligible for up to a $6500 tax credit. As long as you purchase another home and have a signed contract by April 30^th and close by June 30^th, 2010.

 I already see a trend of the bottom end of single family home prices starting to creep up ever so slowly. Some of these homes consist of foreclosures and short sales. There are so many homes to choose from at this time. Foreclosures and short sales unfortunately are still depressing the market, not only in Norwalk, but in surrounding towns as well. What this means is that if you have a property for sale at this time, your home values are in competition with those distressed properties. The realtors and appraisers are doing their comparatives not only on non foreclosed sales but on foreclosed sales and short sales as well.

 Everyone wants to know what is really happening out there in our local real estate market. I believe our current local real estate market has faired better then the rest of the country. Here are a few statistics from Consolidated Multiple Listing system.

 In 2007 sales were at an all time high. There were more buyers than sellers and properties were selling for over asking price. Supply, demand and lending incentives fueled the market resulting in 602 single family homes and 482 condo sales in Norwalk.

 Norwalk showed a dramatic decline in home sales from the buying frenzy of 2007.  In 2008 fueled by fears of the status of the economy people just didn’t come out to purchase homes. The marketplace amidst these fears showed a decline in 2008 sales tumbling to a total of 416 single family and 282 condos.

 At the end of 2009 Norwalk’s housing market was showing signs of stability but the banks are still being cautious with their lending.  Currently as of December 2009 there are 331 single family homes on the market and 251 condominiums for sale. 428 single family homes and 217 condos sold this year.

As we start the New Year the housing market is on track with its seasonal winter slow down. I feel that in the coming months we will see the local market start to build momentum. Homes will start to sell again. First time homebuyers will find the dream home that they have been looking for and people will realize that the home values were prematurely inflated over the past few years.

 

Betty Bondi

Owner/ Broker