Seaport Real Estate Services Blog

The Trail of Discovery

On a quiet morning, I stand by the window of my hotel room at the Hyatt Regency in Bethesda, observing the ever-changing skyline. Older buildings, once familiar landmarks, are being knocked down and replaced with modern structures. Yet, amidst this transformation, my gaze settles on the Capital Crescent Trail—a constant through the years, much like the enduring values that guide my life.

Years ago, I embarked on a career with a burgeoning company called Realty Information Group, which later evolved into CoStar Group. This experience wasn't just about aiding corporate growth—it was about discovering my own capabilities and potential. The bustling streets of Bethesda and the challenges of early career life served as my proving grounds. Each week, as…

8 Views, 0 Comments

The Impending TikTok Ban and Its Broader Implications

In recent weeks, the buzz around the potential U.S. government ban on TikTok has reached a fever pitch. With nearly 170 million American users engaged on the platform, the prospect of losing such a prolific source of entertainment and connection has sparked significant public debate. However, the issues at stake extend far beyond TikTok’s vast user base, touching on critical concerns regarding national security, data privacy, and the influence of foreign powers in American digital spaces.

The Heart of the Matter:

At first glance, TikTok is a vibrant social media platform where creativity and content reign supreme. Yet, beneath the surface, the implications of its operations are vast and complex. Owned by ByteDance, a company based in China,…

38 Views, 0 Comments

Ethical Real Estate Practices: Lessons from the MV Realty Lawsuit and the Importance of Due Diligence

In real estate, the ethical standards we uphold not only define our business practices but also cultivate the trust we establish with our clients. The recent legal challenges faced by MV Realty in Florida highlight crucial aspects of transparency and fairness in real estate transactions. This blog post explores the implications of the MV Realty lawsuit for the industry and underscores the critical role of due diligence in protecting both agents and homeowners.

The MV Realty Case: An Overview MV Realty, known for its unique homeowner benefit agreements, is embroiled in a lawsuit filed by the Florida Attorney General. The company is accused of deceptive practices by securing 40-year contracts with homeowners that require a 3% commission from any…

63 Views, 0 Comments

Temporary Buydowns: An Alternative to Price Reductions.

The reality of price reduction is that when a seller lowers their price, the buyer may not know that the price has been reduced, and they likely don’t really care, because they will begin their negotiation from the new, lower price. When this happens, the seller gets no credit for reducing the price, and that is a shame. Also, after a seller or builder has done a price reduction, they are much less likely to entertain the thought of another one. So, reducing price is not always the best option if that leaves no further room for negotiations, which is understandable.

 When the buyer looks for financing, they are seeking the lowest interest rate available on the mortgage, with 0 points. As you know, a buyer can pay a point or two and get a lower interest…

115 Views, 0 Comments

Community Redevelopment: How Seaport Commercial Agents are Revitalizing the City of Norwich

Original article from Claire Bessette of The Day | January 16, 2024 7:02 pm • Last Updated: January 16, 2024 9:49 pm Norwich ― New York-based real estate developers Ernest and Alfred Tollja learned about Norwich in 2018 from a persistent Norwich comedian who drove to their comedy theater nearly every night and pressured them to buy a building in his hometown. Six years later, the two brothers, originally from Albania, own more than a dozen apartment buildings in Norwich, with a total of 117 apartments. That comedian, however, has moved to upstate New York, the pair said Tuesday. On Thursday, they completed the purchase of three prominent lower Broadway buildings that are part of a larger revitalization…

119 Views, 1 Comments

Navigating the Complexities of Buying a Home in Connecticut: A Personal and Community Perspective

I’m Andrew O’Reilly from Seaport Real Estate. Today, I’m not just a real estate professional, but also a fellow homeowner sharing my personal experiences and insights into the unique challenges of Connecticut’s real estate market.

 Our Family's Dream and the Market Reality

My family, like many in Connecticut, dreams of a new home – closer to the beach, with a bigger yard, a more spacious primary bath, and a walk-in closet. However, the current market makes this dream a complex decision. Our story reflects a widespread dilemma affecting homeowners throughout the state.

Interest rates have risen sharply, making new mortgages considerably more expensive than just a few years ago. We secured a mortgage at an incredibly low rate of 2.5%…

357 Views, 0 Comments

The Power of Your Circle: Why the People Around You Matter for Your Growth

In the journey of personal and professional growth, one factor that often gets overlooked is the impact of the people we surround ourselves with. This isn't just about networking or forming strategic relationships; it's about understanding how our immediate circle can significantly influence our path to scalability and success.

1. Inspiration and Motivation

When you're in the company of motivated, ambitious individuals, their drive can be contagious. These are the people who challenge the status quo, push boundaries, and aren't afraid to dream big. Their energy can serve as a powerful source of inspiration and motivation, pushing you to aim higher and strive for greater achievements.

2. Knowledge and Skill Sharing

Each person in your circle…

117 Views, 0 Comments

Navigating the Tides of Change: Housing Affordability in Connecticut's Coastal Towns

In the span of over two decades, Connecticut's coastal towns have painted a picturesque scene of New England charm and scenic waterfronts. However, beneath the surface of these idyllic communities lies a growing concern: the rising tide of housing prices, surging far faster than their residents' incomes.

#ConnecticutCoast #HousingMarket #EconomicTrends

Over the last 23 years, data reveals a trend that could reshape the fabric of towns like Stonington, Darien, and New Haven. While median household incomes have seen modest growth, median selling prices for homes have soared, in some cases, to more than double the income growth percentage.

#AffordableHousing #IncomeGrowth #RealEstateTrends

In Stonington, for example, incomes have risen by…

181 Views, 0 Comments

The Beauty of Cancellation or Last Minute No Show.

In the whirlwind of our daily lives, we often find ourselves meticulously planning every minute, leaving little room for spontaneity. However, life has a funny way of throwing unexpected curveballs our way, such as last-minute cancellations or no-shows. While these moments may initially be met with frustration or disappointment, there's a hidden beauty in embracing them. Let's explore how unexpected cancellations and no-shows can be opportunities for personal growth, self-discovery, and a fresh perspective on life.

1. Unexpected Free Time

Cancellations open up a slot in your schedule that you didn't anticipate. Instead of viewing this as time wasted, consider it an opportunity. This newfound free time can be used for self-care, pursuing hobbies…

165 Views, 0 Comments

Commercial Property Owners!!! Do not make these mistakes before selling.

Maximizing Long-Term Value in Real Estate and Business Sales: Top 5 Strategic Mistakes to Avoid

By Tim Bray, Broker/Owner, Seaport Real Estate Services

Hello, I'm Tim Bray, the broker/owner of Seaport Real Estate Services and a graduate in Real Estate & Urban Economics from UConn. Through my years of experience, I've seen how focusing on short-term gains can lead to long-term challenges in real estate and business sales. Let's explore the top five strategic mistakes to avoid for maximizing long-term sale values.

1. The Pitfall of Underreporting Income Underreporting income, particularly through cash transactions, may offer short-term tax benefits, but it drastically reduces your property's perceived profitability and legal standing. Accurate…

402 Views, 0 Comments