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        <title>Seaport Advisory</title>
        <link>https://www.seaportre.com/blog/2014-01/</link>
        <description>Data-driven real estate insights, valuation, and strategy across Southeastern CT and Southern RI. Research-backed guidance for buyers, sellers, and investors.</description>
<item>
    <guid>https://www.seaportre.com/blog/should-my-realtor-be-local-finding-the-right-realtor.html</guid>
    <link>https://www.seaportre.com/blog/should-my-realtor-be-local-finding-the-right-realtor.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>Should My Realtor be Local? Finding the Right Realtor</title>
    <description> <![CDATA[ 





I get it..Your Aunt Jenny, Cousin Uma or Brother Sam just received their real estate license and you feel compelled to utilize their services in order to keep the peace within your family tree which happens to be shaped like a wreath.  STOP BEING A PLEASER as it is you who will be adversely affected by the negative outcome of utilizing an agent who is not at the top of his/her game.  Next Step…


You just located a Superstar Agent or team of agents but they are located over 30 miles away from you.


15 Years ago I would have recommended that you utilize the services of a location specific agent as they really had their finger on the pulse of print advertising. Today print advertising is simply a tool for agents to market themselves in an attempt to exploit the number of properties that they have accumulated.  Agents focusing on Print may want to shift gears and take a look at the State of The News Media in 2013. 


Marketing dollars are much better spent on a great website, social media, digital marketing, professional photography, aerial photographs, research tools, and services such as Loopnet or CoStar Group.


Your Superstar Agents who are located in Connecticut have the ability to market your property in Maine better than anyone in the industry if they are utilizing the right combinations of online marketing.  92 of buyers are utilizing the web to find homes these days.  Check out the Field Guide to Quick Real Estate Statistics.


Instead of focusing on the location of your agent’s primary office you may want to explore this question.  Are you ready to sell? (Seven Costly Mistakes that Sellers Make)


Did you know that 43.6 of homeowners can’t afford to sell at this time?  Save yourself and your agent a ton of aggravation, stress, and time by exploring whether or not you are truly able to sell.


We wish you the best of luck in selling your property this year.  Remember, “Hope is not a strategy” and you do not need to hire an agent who is local.



 

 
  ]]> </description>
    <pubDate>Tue, 28 Jan 2014 05:59:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/im-not-a-realtorim-a-gardener-is-real-estate-right-for-you.html</guid>
    <link>https://www.seaportre.com/blog/im-not-a-realtorim-a-gardener-is-real-estate-right-for-you.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>You Will Fail Unless you become a Gardener.</title>
    <description> <![CDATA[ 





Being a real estate professional may be one of the toughest careers you can choose as your initial results are not directly correlated to your hard work but rather to the choices that you make.  I liken this profession to that of a gardener who initially works alone. 


Your first goal is to find a piece of ground that is rich in nutrients and near a sustainable water source.


Your second goal is find a few healthy seeds to start your garden.  Each customer that you are blessed to come in contact with is like a seed whose species is yet to be determined.  You must take extremely good care of each and every seed to make sure that they have a chance to mature and potentially bear fruit…… Not ever knowing if any of your seeds will make it to harvest.


Be extremely careful as some of your precious seeds may be an invasive weed that could wipe out your entire crop or be weak and never survive the first storm that hits.  As soon as you determine the species and fortitude of your seed you must make a choice to nurture or abandon.


This is Your Garden and over time your harvest will get larger as the most dominant plants will produce seedlings that constantly give back.    If your soil is rich and your plants are strong you will eventually need to align yourself with like-minded gardeners who will directly benefit from your hard work.


Together you will enjoy the fruits of labor and the decisions that are made to protect and grow a crop that will continuously give back regardless of the change in weather or gypsy gardeners whose only intent is to make a quick buck off this season’s harvest.


Be vigilant as your soils, weather patterns, and methods of cultivation will change quickly. Your crop is always at risk and you need to be able to react.



 

 
  ]]> </description>
    <pubDate>Sat, 25 Jan 2014 06:35:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/branford-waterfront-home-new-to-market.html</guid>
    <link>https://www.seaportre.com/blog/branford-waterfront-home-new-to-market.html</link>
        <title>Branford Waterfront Home: NEW to Market</title>
    <description> <![CDATA[ 



This 3 story contemporary masterpiece offers a once in a lifetime opportunity for the shoreline enthusiast to enjoy endless breathtaking panoramic views of Long Island Sound. Amazingly, this direct waterfront home sits outside of a flood zone Just minutes from New Haven and Yale hospital, 50 Cocheco Avenue in Branford is one of the most convenient addresses on the coast and is centrally located between New York City, Providence and Boston.


Within the selected boundaries of the Indian Neck Association this property is surrounded by a healthy and vibrant community. Beaches, yacht club, and a newly remodeled waterfront walk-way provide residents a sense of tradition and belonging. *This property is part of association but does not have to pay dues.


While the close proximity to beaches as well as the stunning waterfront views from this home is enough to captivate anyone, the interior design and layout is just as fascinating. The open floor plan on the first floor ignites everyone’s excitement that enters the front door. You are immediately drawn to an open living area and dining room that conveniently faces the panoramic views of the ocean.


Floors two and three offer private living areas for family or guests with 5 bedrooms in total. The master bedroom suite has access to a loft which is a perfect space for exercising or a quiet read. Again, the views are stunning and you will feel as though you are surrounded by water on 3 sides as the master is positioned to capture the best of the Sound.


If the main house isn’t enough there is an income producing apartment above the detached garage. This makes a wonderful feature for the in-laws, kids, weekly summer rentals or a year round tenant. This property is being marketed for the first time in 18 years and has only had one owner. For detailed information about the property please click here to view the custom marketing packet or call today to set a private showing at 860.245.9200

 

 
  ]]> </description>
    <pubDate>Fri, 17 Jan 2014 11:26:00 -0500</pubDate>
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<item>
    <guid>https://www.seaportre.com/blog/i-dont-like-trust-or-believe-real-estate-agents.html</guid>
    <link>https://www.seaportre.com/blog/i-dont-like-trust-or-believe-real-estate-agents.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>“I Don’t LIKE, TRUST, or BELIEVE Real Estate Agents”</title>
    <description> <![CDATA[ 
These are the words that I continuously hear from consumers in the open market in regard to the real estate profession. Instead of pushing back and getting defensive I have chosen to look at the commonality of this mindset and find shared ground and ask “Why?”


Could it be that 80 of the agents in the marketplace turn over every 4 years? 


Or that 94 of the work is done by 6 of the agents?


The 94 will handle only a handful or transactions and make many mistakes due to a lack of experience at the expense of the consumer. Everyone knows someone with a real estate license and feels that the license makes them all equal. Not True. Buying and Selling Real Estate is a huge investment and should not be entrusted to a novice. Long gone are the days of utilizing a cousin or a friend just because they have a real estate license. YOUR BUNS are on the line and it is you that will have to deal with the financial repercussions of an inexperienced Agent or Agent that has been in the business but has fallen behind due to the changes that have taken place over the past ten years. 


I would argue that it is not the agents fault but that of the consumer for not doing their homework.


Consumer Fix: Interview at least three top agents (6) and make sure that you LIKE them, TRUST them, and feel comfortable that they can achieve YOUR objectives. A future blog will address interview questions that can be asked to help you during the interview process.  


Example: You (the Seller) have just received a “Market Analysis” for your property.


Tell the agent that you are not willing to list the home for less than 25 higher than the sales comparison approach dictates.  If the agent agrees to list the home for your elevated number then you must move on to the next agent. The agent is either unsure of his/her analysis, wants your listing for inventory purposes, or needs the signage to attract more clients for himself. Either way, they are looking out for their own best interest and not yours.  Next.


Agent Solution: If you are part of the 94 then you should team up with a seasoned agent who is part of the 6.  Offer to pay them a portion of your commission; send out mailers, write personal cards, or just help to pick up the slack for them.  Get creative.  When I first started in this business I immediately teamed up with the person who was instructing the “Principles and Practice” course.  I did this even though I have a degree in real estate &amp; Urban Economics because I wanted to make sure that my lack of experience did not adversely impact the consumers I was working with.  I now help a handful of people on my team who will in turn help others in the very near future.

 

 
  ]]> </description>
    <pubDate>Fri, 17 Jan 2014 06:40:00 -0500</pubDate>
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    <guid>https://www.seaportre.com/blog/municipal-and-state-conveyance-tax-in-ct.html</guid>
    <link>https://www.seaportre.com/blog/municipal-and-state-conveyance-tax-in-ct.html</link>
        <author>tbray@seaportre.com (Tim Bray)</author>
        <title>Municipal and State Conveyance Tax in CT Updated 3/22/18</title>
    <description> <![CDATA[ 



Public Act 11-6


I am writing in an attempt to clear up any confusion about the current conveyance taxes in the state of CT.  There has been some confusion since the laws changed.


When you sell property in the state of CT you are taxed on both the Municipal and the State Level.


On the Municipal level you will be taxed at a base rate of .25 of the sales price plus up to an additional .25 in 18 “Targeted Investment” municipalities.  Towns that are eligible for the additional .25 are Bloomfield, Bridgeport, Bristol, East Hartford, Groton, Hamden, Hartford, Meriden, Middletown, New Britain, New Haven, New London, Norwalk, Norwich, Southington, Stamford, Waterbury, and Windham.  Unfortunately all of these towns have elected to embrace the .25 in additional tax.


State tax is .75 of the sales price. Properties selling in excess of $800,000 will be taxed an additional .5  of the amount exceeding $800,000.....or 1.25


Example 1


For a $350,000 residential property selling in a town with the additional amount, total conveyance would be…


-          Town Tax               .25 x $350,000 = $875


-          Additional Tax      .25 x $350,000 = $875


-          State Tax               .75 x $350,000 = $2,625


-          Total Conveyance Tax of $4,375


For a $1,250,000 residential property selling in a town with the additional amount, total conveyance would be…


-          Town Tax               .25 x $1,250,000 = $3,125


-          Additional Tax      .25 x $1,250,000 = $3,125


-          State Tax               .75 x $800,000 =    $6,000


-          State Tax               1.25 x $450,000 =   $5,625


-          Total Conveyance Tax of $17,875


 


Please note that there are various categories of real estate that are exempted from the municipal portion of the conveyance tax.  A couple that I felt were worth mentioning are deeds in lieu of foreclosure for a primary residence and any conveyance of a primary residence where the purchase price is less than the mortgage and property taxes due on sale.


Buyers looking to purchase a property that is currently owned by a relocation company or employer? If the resale occurs within six months of the employee conveyance then the Employer will not be required to pay the municipal portion of the tax. (A little leverage when negotiating with Relo ;)


If you are thinking of Buying or Selling anywhere in CT I am happy to speak with you to form a strategy. If you are outside of our area we can help with finding a local reputable agent for you as we are connected to the most trustworthy, adept, and personable agents in the state. 


CLICK HERE to set up a time to meet or talk about your goals.





Tim Bray (B.S. Real Estate &amp; Urban Economics -UConn)


860-912-7137 or tbray@seaportre.com

 

 
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    <pubDate>Thu, 02 Jan 2014 13:01:00 -0500</pubDate>
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