Seaport Real Estate Services Blog

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…

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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%…

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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…

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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…

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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…

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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…

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Better to let a fool win a debate than to lose your peace. Wisdom lies in choosing your battles

"Have you ever found yourself in a debate where winning seemed less important than maintaining peace?" 

Better to let a fool win a debate than to lose your peace. Wisdom lies in choosing your battles.

In today's increasingly polarized world, where opinions and beliefs often clash with high intensity, the value of preserving relationships and inner peace becomes paramount. This perspective is not just about avoiding conflict; it's about recognizing the deeper importance of human connections and personal well-being over the fleeting triumph of winning an argument.

The Cost of Winning at All Costs:

1. Relationship Strain: Insisting on winning an argument, especially on sensitive topics, can strain relationships. Friends, family members, and…

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Major Distress for Commercial Properties Nationally

In the world of commercial real estate, the Debt Service Coverage Ratio (DSCR) is a critical metric that plays a pivotal role in the refinancing of properties. A DSCR lower than 1.2 often signals trouble, and recent trends across the country have shown an alarming 602% increase in properties grappling with this issue. However, the impact is not uniform across the board, as we'll see in the case of Connecticut, particularly in New London County.

National Context: Nationally, the picture is stark. In just the last 30 days, properties in distress have skyrocketed from 5,562 to a staggering 33,495, covering about 1.5 billion square feet of space. This surge reflects a significant shift in the commercial property landscape, indicating a broad-scale…

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On the Path to the Elite CCIM Designation at Seaport Commercial

We're incredibly proud to spotlight Kyle Schrader, one of our most dedicated and industrious realtors. Kyle is consistently striving for excellence, and is currently working diligently to obtain the prestigious CCIM designation.

???? What is the CCIM Designation? The Certified Commercial Investment Member (CCIM) designation, administered by the CCIM Institute, is among the most esteemed credentials in the real estate world. Achieving this signifies expertise in financial, market, and investment analysis, and exceptional negotiation skills. Those who earn this are recognized as leaders in the commercial investment real estate sector.

???? Why is the CCIM Designation a Game-Changer?

1. Mastery in Financial Analysis: CCIMs make data-driven…

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"The Daily Voicemail Hack: Elevate Your Professional Game"

In the fast-paced world of real estate, every call could be a game-changer. Commission-based professionals often find themselves tethered to their phones, living in fear of missing that one pivotal call. But what if I told you there's a way to reclaim your freedom, stand out from the crowd, and still come off as the top-notch professional you are? Enter: The Daily Voicemail Hack.

????**Why Update Your Voicemail Daily?**????

1. Stand Out from the Crowd

Every time you miss a call and the caller hears your updated voicemail, they immediately recognize your dedication and commitment. It's a clear indicator that you're on top of your game and are meticulous in your approach - a trait every client appreciates, especially in the real estate world.

2.…

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