Seaport Real Estate Services Blog - Tim Bray

“I Don’t LIKE, TRUST, or BELIEVE Real Estate Agents”

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…

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Municipal and State Conveyance Tax in CT Updated 3/22/18

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%…

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Colchester Treasure For Sale

I am pleased to have the honor of introducing you to, Lincoln Lake Lodge located at 5 Levy Road in Colchester, CT. Located just .4 miles from exit 18 off Route 2. The Lodge is positioned in an R-60 rural residential District zone. In specific, the property is legally acknowledged as a nonconforming commercial multiuse facility that has been in continuous operation since the Davis Family took ownership in 1958.

Mr. and Mrs. Davis renamed the resort Lincoln Lake Lodge. A professional saxophone player in his youth, Mr. Davis developed The Lodge into a successful music venue where many stars performed.  The Lodge has hosted over 100 large events with 1000 or more attendees and more than 3000 smaller gatherings over the last 50 years. Attendance has…

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Former Sotheby's Office for Sale in Stonington Borough

BUILDING DESCRIPTION

109 Water St is improved with a three story, wood frame building constructed in 1900. Although the property is not individually listed, the entire Borough is on the National Register of Historic Properties, which can provide protection from demolition and adverse impacts from federally-funded projects. The front of the building has clapboard siding. The sides and rear are covered with asbestos siding.

The gross floor area is approximately 2,706 square feet, with 868+/- square feet on the first and second floors, and 781+/- square feet on the third floor. The first floor is used as a retail store, with a display store window in front and a 1/2 bathroom in the rear. The retail space is essentially one room, with an area…

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Are you calling me a Fruit?

Have you ever chosen a piece of fruit that looks amazing only to find that the insides are rotten? You are disappointed to say the least and left with a sour taste in your mouth. There is future hesitation when reaching for another piece that originated from the same place. I have found this to be very true in dealing with people and business. Perception is not necessarily reality. You have to get to know the person before becoming comfortable in referring their services to your sphere of influence. After all, your recommendation is a reflection of how you do business.

I am tremendously proud to say that I have created a network of individuals that are extremely talented, reputable, and place the interests of their clients before their own. Peter A.…

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Located within 300 yards of Downtown Mystic

12 Burrows St, Mystic CT 06355

300 yards from Downtown Mystic and over $200,000 in upgrades. This striking home on over half an acre is highlighted by a heated pool, spacious fenced corner lot, irrigation system, garage, new siding,exterior lighting, and central air conditioning.

Letter from the Seller ~

Thank you for your interest in our home. We have spent five very happy years living here. Our home is set in the Mystic Historic District and was built in 1879. Our fondest memories of living at 12 Burrows Street will always be of our children playing outside, running in and out of the pool, and rolling down the hill in our front yard chasing our black lab ‘Bella’. This has been a great home for entertaining, for our children to play and…

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Local Reputable Business Goes Above and Beyond

Have you ever worked with someone so GOOD that you wanted to tell everyone about your experience?

How often have you agreed to a monthly service agreement, insurance policy, or TV package only to find rates rapidly creeping up and the value of service declining?    Many of us utilize automatic payment programs that make it nearly impossible to spot these changes for years while the built-in escalation clauses leave us feeling violated and taken advantage of.

Wouldn’t life be a little sweeter if your service provider had YOUR best interest in mind and notified you of rate hikes while offering money saving alternatives?

A few weeks ago, I received a call from Debbie Kane of Sava insurance Group in Waterford CT. Debbie, had performed a yearly…

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Truth about the 2013 Real Estate Tax of 3.8%

To start, I must say that I am not a tax professional or an attorney. In fact, I have no desire to be involved in either of these professions (though I respect them) and urge you to seek counsel from someone other than a real estate professional writing a blog post.

First of all, it is not a sales tax nor does it impose any transfer tax or recordation tax. It is called a “Medicare Tax” because the money received will be allocated to the Medicare Trust Fund, which is part of the Social Security System. This tax will not affect everyone and in fact will impact a very small percentage of people selling.

People are confused for good reason.  The actual legislation will make your head spin…take a look.

SEC. 1411. IMPOSITION OF TAX.
(a) IN…

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The Impact of Hurricane Sandy on Coastal Communities

With Hurricane Sandy closely in our rear view mirror we are left with continued clean up caused by record breaking winds and a storm surge that changed the landscape of many coastal communities. As a real estate professional focusing on the Waterfront Communities in the region, I must pause and think of the short and long term affects that this storm will have on the market.

The short term is ear marked by the clean-up of downed trees, submerged roads, newly created sand dunes, and catastrophic structural damage to homes located in low- lying areas not fortified by seawalls.  It is rumored that FEMA may in fact redraw the maps that have defined the communities since 1938. Time will tell.

Lending has slowed dramatically as banks want to make…

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A Guide for a Smooth Trip to Mortgage Commitment

In processing a borrower’s paperwork, it can seem like we fail our way towards the closing and then ask our customers: “How was the trip?” But in reality we should be guiding the customer towards the closing based upon our expertise…for many borrowers in the marketplace this is not happening. We should be saying, “This is the route you must follow to get where you need to go.”

There may be roadblocks and obstacles along the way and at times the journey to home ownership can be bumpy, but the Loan Officer should view their job as that of a guide…one who helps the borrower reach their ultimate destination.

Think of a good tour guide or a concierge you may have encountered while traveling. Not only is the guide familiar with the area to be…

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