Connect

Find us on...

Dashboard

Log in using...

Seaport Real Estate Group Blog

The year is already beginning to pass by, and with it, so are many people’s resolutions to keep staying on top of the goals they set in anticipation of making positive changes in 2021. What is it about the date of January 1st that causes people to think that is THE day to get a fresh start? We can actually make the choice to create a habit any second of any day. It just takes making a decision. That in itself is no easy task, but once you have made the decision, changes begin and new habits are formed.


Making light, half-hearted “goals” to start on January 1st fail for the majority of people for numerous reasons. One reason could be the fact that we try to cram in every large, life-shifting goal at once. How can we be expected to achieve such

125 Views, 0 Comments

The Growing Gap between Price and Value 

YEAR-END REVIEW

Breaking News: Residential Real Estate markets are on fire. Thank you Captain Obvious. No matter the cause, this is always newsworthy in and of itself. What makes this story especially compelling is the fact that it is being written in the middle of a global pandemic with jobs being lost and a larger economic contraction forthcoming. The short answer that explains this recent phenomenon is simple: city dwellers are fleeing concentrated, highly populated areas, and suburban markets are reaping the benefits of their relocation and ability to now work from home. Add to this, historically low-interest rates, fiscal stimulus, and a lack of grounded market awareness, it becomes easier to explain

59 Views, 0 Comments

Originally appeared on MYMOVE.com

Written by Hedy Phillips

The holiday 2020 season may look different but that doesn’t mean you can’t still celebrate, including with your loved ones. This is the year for shopping online — which has already seen a huge increase  and continues to be the safest way to buy things for yourself and others. Though the U.S. in particular is experiencing a new COVID-19 surge this holiday season, there are ways to create new and safe holiday traditions for 2020.

Ahead, we’ll share tips for how you and your loved ones can still find joy in the holidays during COVID, whether it’s setting up Zoom dance parties or mailing gifts to out-of-state friends. We also understand the incredible amount of stress you might be under,

172 Views, 0 Comments

Vacancy Rates - Vacancy shows the current number of un-rented units.


How do you calculate the vacancy rate?


This is typically calculated on an annual basis and is shown as a percentage.
You simply:
Multiply the number of vacant units by 100.
Divide the result by the total number of units in the property.


For example, if an apartment with 10 units has two vacant units, you would multiply 2 x 100, giving you 200. Then divide by 10 units for a 20% vacancy rate.


Why are vacancy rates important?


Vacancy rates are ultimately aimed to be kept as low as possible, but they will always happen and need to be accounted for. A sound investor can not rely on a tenant to pay on time and to stay in and maintain the premises in a satisfactory manner.

256 Views, 1 Comment

Recent market data tells the real story

Local news sources have been reporting on the positive impact of interstate migration funneling new residents into CT as a distancing measure related to Covid-19. With interest piqued by these developments, we did some research as an attempt to measure the benefits of this peripheral good fortune. What we found is not exactly in alignment with local reporting. 

Channel 3 WFSB 

CT Post

NBC CT 

The Hartford Courant

While it is encouraging to see an influx of newcomers take residence within the nutmeg state, it’s important to note the number of residents currently leaving the state still outnumbers those coming in at this time, rendering an effective net loss in the state’s population and its

243 Views, 0 Comments

NOI = Gross Revenue – Total Operating Expenses 

The NOI, or Net Operating Income, is one metric used to evaluate an income-producing asset. It is defined as the total income that a property generates less than the total operating expenses and losses from vacant units. 

Prior to investing too much time, energy, and money into acquiring a property, it is crucial for investors to have a clear understanding of the amount of revenue an asset can generate. Many people confuse NOI with the amount of money the property is generating before they take expenses into consideration. When looking at financials on a property and all expenses are not being deducted, the numbers become falsely inflated and are essentially meaningless. How much does it actually

575 Views, 1 Comment

Originally published on NBCCT on November 12, 2020 • Updated on November 12, 2020 at 11:26 pm

 

COVID-19 exposure notifications from the Connecticut Department of Public Health are now available on your phone.

COVID Alert CT, the state's official exposure notification system, is now available for Apple and Android.

  NBC Connecticut  

Once installed, the app uses Bluetooth to determine if a user's device moves within six feet of someone who has tested positive for the virus for a total of 15 minutes or more in a day. The app does not share personal information.

Contact tracers will ask users who have tested positive will be asked if they are willing to share "close contact" codes the app has

42 Views, 0 Comments

 

| What is a Cap Rate? | 

A metric used to gauge the approximate risk and rate of return on an income-producing asset, assuming the investor paid cash.  A cap rate is expressed as a percentage and derived by dividing the Net Operating Income (NOI) by the sales price or current market value.

Formula: Capitalization Rate = Net Operating Income / Current Market Value

Example:

Net Operating Income: $150,000

Current Market Value: $2,000,000 

Net Operating Income ($150,000) / Sales Price ($2,000,000) = 7.5% Cap Rate

 

In short, this means that you would have an approximate return of 7.5% if you paid cash for the property.

You may ask, is this an effective way to value a property? 

There are a handful of variables that are

306 Views, 0 Comments

AUCTION PURCHASE OPPORTUNITY –  102 Town Woods Road Old Lyme, CT.  SALE TO BE AWARDED VIA ONLINE AUCTION PROCEEDING. BIDDING DATES OPENED TO QUALIFIED BUYERS FROM 08/16/2020 - 08/23/2020. Tim Bray and Jamie Molinares of Seaport Auctions and William Pitt Sothebys International Realty are jointly auctioning and marketing the property. Minimum bids starting at $1.5 Million with a Seller Reserve. SCHEDULE A SHOWING TO PREVIEW THE PROPERTY AND CONFIRM STATED INTEREST.

102 Town Woods

A virtual walkthrough of the property can be accessed by clicking here. 

Gated Estate located within the secluded countryside of Old Lyme. Quiet enclave nestled within an exclusive retreat with over 20 acres of land and privacy. Custom built, impeccably maintained 6,100+ square foot

733 Views, 0 Comments

To Secure the Listing and Blow Away the Competition

  • Sometimes It's a Deliberate Lie.
    As the seller interviews each agent, often the estimate of value creeps upward. Maybe the first agent knows there will be two other agents competing for the listing, so the first agent names an astronomical figure. The second agent, upon hearing the first agent's price, beats it. The third agent comes in higher yet.

A seller who chooses an agent based on which estimate is highest can oftentimes become the ultimate loser….but it is human nature to choose the agent who says they can fetch the highest price.

Almost every seller operates in this manner. To the defense of the Agent, sometimes they just “Don’t know what they don’t know”.  The traditional

361 Views, 0 Comments