short sale

Norwalk CT Property Sales Transfers June 16 – 30

16 Dry Hill road
David Shulman & Petra Schwarz to Daniel & Samantha Costanza, $435,000

2 Creeping Hemlock Drive
GMG Macintyre Trust to Margaret Donnelly, $270,000

80 County Street Unit 3F
Federal Home Loan Mtg Corp to Neiyuan Yang & Ru Chen, $174,708

66 Fawn Ridge Lane
Mary Fitch to Peter & Grace Barbieri, $385,000

25 Sention Avenue
Sofia & Parhena Sefendis to George Seferidis & Miriam Ri, $325,000

8 Fillow Street
JP Morgan Chase Bank NA to Adam Wadoloski, $210,000

7 Cloverly Circle
Estate of Beatrice Druks to Pawel Zietek, $400,000

41 Wolfpit Avenue Unit 4D
Timothy Lyons to Marek & Katarina Brila, $53,000

71 Aiken Street Unit D11
Stefanie Kasven to Julia Paridis, $170,000

7 Trolley Place
Randall Moore to Matthew & Alyson Smith, $525,000

167 North Taylor Avenue
Thomas & Maria Daniel to Monica Fitzgerald, $354,000

111 South Main Street
111 South Main Street Assoc LLC to Donavan Stephenson, $975,000

222 Wolfpit Avenue
Estate of Margaret Donnelly to Rocco Romeo, $603,000

220 Wolfpit Avenue
Estate of Margaret Donnely to Lauren Romeo, $200,000

10 Eversley Avenue
Prudential Relocation to John & Camille Vandermeulen, $577,500

4 Spar Road
Kelly & Erika Wright to Pamela & Malcolm Speed, $720,000

48 Winfield Street
Carol Silva to Warren & Domonique Newman, $282,000

54 Shorefront Park
Jonathan Ziff to Linda Ferus, $1,750,000

115 Fillow Street Unit 17
Becca Nell to Christopher deGuzman, $222,500

4 Arbor Court
Dolores Dube to Carmen Mirosanu & Cristian Georgescu, $295,000

8 Wilson Avenue
Elizabeth Butterworth to Charles Kwak, $1,750,000

29 Beechwood Road
Deutsche Bank National Trust to Muhammed & Fahmidan Khan, $250,000

65-69 East Avenue
65-69 East Avenue LLC to ECP East Avenue LLC, $1,878,673

550 Connecticut Avenue
Richard Passero to Ervin & Olga Agababaev, $300,000

137 Washington Street Unit 303
Patrick Hughes to Gregory Gesswein, $237,000

15 Scribner Avenue
Rosemary Nemeth to Brenin & Nicole White, 375,000

168 Rowayton Avenue
Miner Realty Ltd Lib Corp to James Falsey, $1,050,000

39 Barbara Drive
Marc Schoenen & Veronica Oropeza to Amelios & Faith Kourpouanidis, $400,000

8 Evergreen Terrace
Timothy & Sarah Frank to so Yee Chin & Christoph Hansis, $700,000

21 Prospect Street Unit B201
Brent & Rose Mettlen to Julie Thorne, $265,000

3 Honeysuckle Drive
Alfredo Jr & Joseph Senese to Gregory Hesen & Beata Hebda, $353,000

39 Thistle road
Charles & Carey Strahley to Charles & Lara Cardoza, $550,000

1 Douglas Drive
Anthony Manousos to Anthony Manousos Jr, $500,000

41 Wolfpit Avenue Unit 5A
Claire & Richard Morrissette to Qian Zhan, $53,000

47 Prospect Avenue Unit 47P
Assets Recovery Center Inv LLC to Virginia Palomino, $94,000

3 Browne Place
Christopher & Heidi Keelips to Daniel Hafner, $2,883,000

520 West Avenue & 26 Lynes Place
Frost Building LLC to MCP SP West Avenue LLC, $4,500,000

605 West Avenue
Riverwest LLC to MCP SP West Avenue LLC, $3,000,000

698 West Avenue & 714 West Avenue
699 Riverwest II LLC to MCP SP West Avenue LLC, $2,000,000

239 Silvermine Avenue
Christian & Meghan Pendergast to Dino Verardo & Danielle Botliglieri, $825,000

28 Harris Street
Erna Schwolow Trust to Kate Morrison, $270,000

short sale

Norwalk CT Property Sales Transfers May 16 – 31

5 Hayes Avenue
Mercedes Weisheit to John Weisheit, $325,000

28, 34 & 44 Slocum Street
EMS Group Limited Partnership to 44 Slocum Street LLC, $1,275,000

25 Honey Hill Road
Estate of Grace Vadas to Patricia Panasuk, $312,000

19 Melrose Avenue
Robert Murenan & Minnie Goodlavage to KTF Design LLC, $263,133

6 Farm Creek Road
Six Farm Creek LLC to Arick & Kalyw Rynearson, $1,780,000

7 Garfield Street
Estate of Mario Monticchio ot Christene Moise, $285,000

1 Hollow Tree Road
Marie Cunliffe to Maureen Burke, $312,500

50 Fairview Avenue Unit 3G
Brian & Dianne DiStassio to Lena Chu, $155,000

10 Eversley Avenue
Andrew Meikle & Adrienne Law to Prudential Relocation Inc, $577,500

16 Brookhill Lane
Susan Pascucci to Francis Prenevost, $438,000

25 Grand Street Unit 117
Peter Sillan to Kristin Iorio, $184,900

2 Winterset Drive
Estate of Mary Freding to Delphine Swierc, $435,000

174 Woodward Avenue
Hector Reyes to Bruce Freitag, $186,000

135 Highland Avenue
Ellen Duggins to Scott & Lindsey Sozio, $1,700,000

181 Rowayton Woods Drive
Francisco Rendon to Joshua Frank, $387,500

17 Eleanor Drive
Lisa Pullia to Michel Campbell & Lisa Yerinides, $392,500

9 Rhodonolia Park
Estate of David Luty to Helen Sam & Arockia Raja, $410,000

52 Wolfpit Avenue Unit 2A
Arthur Wargo t Giuseppe Mercuri, $105,000

36 Ferris Avenue Unit B2
Woodbury LLC to Renault Young, $400,000

17 May Drive
Adam & Tara Kovach to Daniel Sanabel, $830,000

169 Perry Avenue
SSB Realty Holdings LLC to Rudolph Eberstadt, $460,000

2 St James Place
Susan Castle & Pamela Bayly to Two St James Place LLC, $700,000

5 Lycett Court
Matthew & Sandra Purowitz to Scott Smith, $545,000

154 Strawberry Hill Avenue
Capital One NA to Konstantinos Spetsaris, $237,000

15 Styles Lane
Theodore Hammack & Elizabeth Leidhold to Miroslavt Siloboda & Lucia Nagyova, $314,000

15 South Street Unit 1A
C & T Partners LLC to APH 15 South Street LLC, $250,000

40 Ferris Avenue Unit 5
Woodbury LLC to Evan & Deborah Dubin, $400,000

75 Wolfpit Avenue
Richard Silverstein to James Andrasi & Michelle Martelli, $430,000

8 Winnipauk Drive
Laura Kaehler to Joseph & Elaine Campanie, $450,000

short sale

Frequently Asked Local Real Estate Questions

Frequently Asked questions about our local Real Estate market

As a local real estate expert I am asked questions regarding the market on a regular basis.
People are frequently surprised at the answer that I give them. Most of you are reading and listening to the news and don’t realize the information that they present is usually nationwide and is not necessarily what is happening in our local market.

How is the real estate market and are homes selling?

The real estate market locally is actually moving right along. Difficult weather conditions definitely played a role in flat sales this winter and even without the first time homebuyer incentive the winter market here is about the same as last year. Although those factors have made an impact on sales, we still showed a slight gain in sales from the same time in 2010. My prediction is that 2011 home sales will continue to show a rise in the numbers as there is pent up demand from buyers who are ready to jump into the marketplace.

Are the banks lending?

Yes, the banks are lending right now. As we climb out of the financial mess we have gone through, the banks are still asking for lots of documentation and a larger down payment. It is critical however to find the right mortgage broker or lenders. Some of them are easier to work with than others. I have asked Aimee Merritt from Wells Fargo home mortgages to offer her professional opinion with this question. She says that Wells Fargo is definitely lending and has lowered the bar on credit scores for FHA loans to 500.

(The down payment and debt ratio requirements will vary but, this is really great news to help more buyers get into more homes.)
-Credit Scores from 500-579 10% down of own funds.
-Credit scores from 580-600 5.00% down of own funds.
Credit scores 600 and above 3.50% down. Down payment can be a gift and the seller may contribute up to 6% towards closing costs and prepaids.

Wells Fargo is also offering better rates for purchases especially investment purchases to help increase housing sales! Rates are currently 4.75% for a 30 year fixed loan.

I believe this Spring and Summer will be very busy for housing sales with reduced housing prices coupled with low rates!

Are there a lot of foreclosures on the market?

There are not as many foreclosures on the market as everyone thinks. They are still out there, according to the Fairfield County Business Journal with towns like Bridgeport having more than others. The good news is they are not coming on the market as frequently as they were. Having said that we may see a new influx of foreclosures coming down the pike but we will have to wait and see which towns fair better then the others. This is one of the unknowns of the real estate market.

What about Short Sales?

At this time short sales are still cluttering up the market. People are over their heads with debt and no jobs which lead to this result. The banks would prefer to deal with homes in this situation with a short sale instead of a foreclosure. The reason why we see so many on the market is that it usually takes anywhere from six to eight months to close on a short sale.

Are prices still declining?

Yes and no. It actually depends on the price point of the home. Homes under $400,000 are selling and my prediction is that as we head on through the year, I expect the lower end of the price range to start heading up again, slowly. Homes in the mid and upper price range are holding steady at this time. The seller’s misconception is because we are in a normal slow winter season that they need to really slash the asking price of their home for it to sell. I have seen other surrounding towns hold out for a fair price initially saving the values of the rest of the neighborhood. My advice is to fairly price your home based on comparables in your neighborhood and you won’t have to continue to slash your asking price considerably in order to sell.

What do I need to do to prepare my home for selling?

Most homes can use a little sprucing up. My advice is set a budget for repairs, painting, and staging. If you can tackle some of these tasks yourself then you will save money. Most buyers want a clean well kept home that they can move right into. Remember a little elbow grease goes a long way with you getting more money for your home.

What do I look for when hiring a real estate agent?

The best advice is to look for someone who is a licensed Realtor. We go through extensive education, testing, training and experience in the field. You also want to hire a Realtor that has experience in the town or city that you are buying or selling in, if they live in the town that’s a good starting point. The reputation of a Realtor goes a long way, make sure they are honest. Ask for references. Small boutique realty companies can do a good job in helping you buy or sell a home. We take pride ourselves at Bondi Realty that we can offer you everything the large companies offer as well as incentives and marketing plans that we can custom create just for you!

Do I need to call the listing agent to see a home?

No, you don’t. You can work with any Realtor who is on the local multiple listing system. We pay a fee every year to be on the Consolidated Multiple Listing Service. This is our guide to what is available for sale in any given town.

Betty Bondi
Bondi Realty Group LLC
203-899-9990

Betty@Bondirealtygroup.com

short sale

$399,000 – Beautiful Vintage Colonial Farmhouse – Norwalk CT

 Beautiful vintage colonial farmhouse located within walking distance to all district schools – Naramake, Nathan Hale and Norwalk High School. Features include – large open living room, dining room and family room each with their own unique wood burning fireplace.  Huge master bedroom suite on first floor with vaulted ceilings, remodeled master bath and lots of closets. There are two more bedrooms on the second floor with hardwood floors and full bath. New energy efficient windows.  New kitchen with stainless appliances including Viking range and hood and beautiful tile floor. Convenient location close to shopping, I95 and Westport town line. This is a short sale and must be approved by a third party. Bondi Realty Group LLC has short sale experience. We can work together with our team of professionals to close the deal as quickly as possible. Please call us today to ask about the short sale process.

short sale

Six Reasons to Buy a Home in Today’s Market

6 Reasons to Buy a Home in Today’s Market 

What is a buyer to think with all of the conflicting reports that they hear on a daily basis from the media? I can understand why they are so confused when it comes to purchasing a home. Is it the right time to buy? Should I wait until the prices go lower? Will I qualify for financing?

Just because there are less foreclosure and short sale opportunities on the market at this time doesn’t mean you won’t be able to make a great deal. There are many homes for sale by their owners that are ready to make a deal. A good real estate agent will be able to guide you on finding a fabulous place for a decent price. This is a win- win situation for both the buyer and the seller.

Inventory is at an all time high! Have you fantasized about going shopping for a home? Right now there are so many homes for sale that you can actually pick or choose one that you will fall in love with. In the past there were so few homes for sale, you had to make an on the spot decision or you would miss out. Right now there are homes that are beautifully remodeled and there are homes that can be bought and fixed up to your specifications.

Interest Rates are at an all time low! Do you know what this means? You can afford more home at a really fabulous affordable price. 30 year fixed rates are around 4% and 15 year fixed rates are around 3.75%. If inflation picks up, you won’t see these super low mortgage rates continue.

Affordability factor! Home prices in our area are reaching the bottom. You say that you want to wait to buy until the prices bottom out…..how will you know when that is? The only way you will find out is when the prices start heading upwards again.

Let’s make a deal! Don’t forget that this is a buyers market. Most of the buyers have decided to sit on the bench and wait. This is your opportunity to negotiate with hungry sellers who really want to sell their place so that they can upgrade or move on.

Tax saving! Do you realize that you can deduct both your mortgage interest and property tax if you itemize your tax deductions? If you have a good income, tax breaks can be very valuable to your bottom line.

Pride of ownership! Just think, you can paint your walls any color you want, get the pet you always wanted but couldn’t have in your apartment, or just have people over to your home for a friendly gathering. It’s your home and these are some of the perks of owning it!

One day the market will mend! Homes will sell with some regularity once people are employed again. That day is right around the corner. If you have a secure job and some money saved up, now is the time to make that move. Don’t wait until the spring market if you don’t need to. Take advantage of the above reasons and get out there and shop!

 

Betty Bondi
Bondi Realty Group
203-899-9990

short sale

Late Spring update – Short sales process

 It seems to be the questions that everyone is asking right now.

What is going on with the real estate market? Are homes selling right now?

 I am happy to report that I have good news! After a sluggish winter it seems that the buyers are ready to spring into action. There has been a pent up demand which has driven a late spring market into action.

 Single & multi family homes are the best sellers with condo sales lagging behind. Condo sales are still slow due to bank financing issues. Even though this is good news, home prices are still declining at this time. There is a high property inventory which is keeping home prices down at this time. Another reason for declining home prices is the fact that there are still many foreclosures and short sales affecting our local real estate market.

 Today I am going to talk about short sales. Everyone wants to know what a short sale is.

You probably hear it all of the time, your friends & family telling you that you should buy a short sale or foreclosure, because you will get a great deal. Sometimes you can get a great deal and other times it can be more than you bargained for.

 Short sales, despite the name, have always taken a very long time to process. That is because the short in short sales refers to a shortage of money and not time. Short sales are sales in which the seller’s proceeds will be less than his outstanding mortgage debt.  Buying a home via short sale allows a property owner to sell their home for less than what is owed on the mortgage with the lenders approval.

 Why would the seller want to go through this process? For the homeowner a short sale can be a lifesaver compared to having your home foreclosed on you. This is still a distressing situation as you will end up losing your home with only $1500 to show for it. However this process enables the seller to leave with some dignity, hopefully less stress and taking a lesser hit on your credit scores, than taking the foreclosure route.

 For the home purchaser, short sale homes can be a deal, but aren’t likely to be a steal. It is very common for a seller of short sales to receive offers that are extremely low in relation to asking price. The offers must be approved by the bank that holds the loan. This can take a very long time as many banks only review one bid at a time and can take up to 10 days to respond. At that time you can submit a new offer, but the cycle repeats itself until all parties are in agreement. If the property is not an approved short sale, then it can take up to 6 months or longer to close. Many buyers walk away at this point, due to frustration and not being informed right at the start from their real estate agent. It is vital that you work with an experienced professional realtor especially when working with short sales or foreclosed properties.

 Get your financing in order. The banks are tough customers when it comes to a purchaser submitting a bid on a short sale. Currently the response to any properties that are underpriced in our market place is a bidding war. Yes, a bidding war still happens with properties that priced below market value. There are investors out their right now looking for properties that they can either flip or rent out until the housing market turns around. Make sure that your money is in order and if you have cash to pay for the property then you are in the driver seat. Cash and a quick closing will make it easier for you to negotiate a great price with the bank. If you don’t have cash, then you must have a pre approval in place with a lending institution. Without this in hand, it will be difficult to make the process work for you.

 Our team at Bondi Realty has the experience in the market place working with short sales and foreclosures. If you have any questions regarding today’s article please contact us at 203-899-9990.

 Betty Bondi
Bondi Realty Group LLC

 

 

 

 

 

 

 

 

 

 

 

 

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Norwalk CT Property Transfers February 16 – 28

15 Starlight Drive
Estate of Harrison Bullock to Patrick Dadarria & John Yuille, $350,000

 115 Fillow Street Unit 72
Tushar & Dhara Shah to Erica LeCanno, $308,000

 12 Old Rock Road
Estate of Mary Condors to Christopher Condors, $200,000

 44-48 Westport Avenue
Westnor Associates llc to SCG Capital Corporation Profit Sharing Trust, $2,000,000

 7 Jarvis Street
Robert & Joy Crowe III to Gregg & Michelle Ward, $477,500

 1 Technology Plaza
Nadji & Julliette Tehrani to Technology Plaza llc, $850,000

 153 West Cedar Street
Nadji Tehrani to 153 West Cedar llc, $350,000

 22 Meeker Court
Estate of Joanna C Coor to Robert Daus, $264,000

 231 Wilson Avenue
Tienshan Inc. to Ganesha Real Estate llc, $1,350,000

 6 Farm Creek Road
Betsielane Sullivan to Six Farm Creek, llc, $635,000

 25 Fairweather Drive
Tonino Mavuli to Anthony Rieber & Kelly Warner, $410,000

 56 Soundview Avenue Unit 2
Richard Evanich to Paragon Relocation Resources Inc., $460,000

 17 Fullin Road
US Bank NA to Jaroslaw Galezowski, $337,000

 25 West Main Street
Stanislaw & Anna Warchal to Sandra Phillips, $266,000

 56 Soundview Avenue Unit 2
Paragon Relocation Resources Inc to Rock Rockefeller & Lakshi Kottapalli-Suman, $460,000

 291 Highland Avenue
Steven & Patricia Kerschner to Laurence & Alicia Sette, $589,000

 66 Broad Street
US Bank NA to David Sabini Jr, $270,000

 49 Fairfield Avenue
Estate of Kathryn Stewart to Babette Arroyo, $180,000

 3 Roland Avenue
Pybus Family Trust to Robert & Candida Norton, $430,000

 27 Plymouth Avenue
US Bank NA to Jennifer Schriven, $234,000

 4 Union Avenue Unit 13
Deutsche Bank National Trust co to Yar Arbeli, 135,000

 14 Fullin Court
Lusandre Chaudruc to Carl Johnson & Lindsay Taylor, $348,000

 21 Edlie Avenue
Wells Fargo Bank NA to Evangelos Dadooulis, $250,000

 2 West Avenue Unit 14
Jerry & Fred Petrini to Edward & Suzanne Chiaramont, $144,000

 22 Shorehaven Road
Shorehaven road llc to Michael & Amy Greenberg, $1,825,000

 28 Surrey Drive
William & Michele Alexander to Michael Hamm & Rachel Staycheff, $522,500