Mill Rates

Simply stated, a Mill Rate is the adjustable measure that calculates how much the tax man collects from you on an annual basis. The concept itself is easily understood.

However, more insight is necessary to identify and understand the underlying, and often unforeseen market forces that can drive YOUR Mill Rate up or down, saving or costing you more money in taxes, depending upon where you choose to buy a home.

Note that each town imposes a different mill rate depending upon that town's grand list and how much revenue they must generate to cover their yearly costs. 

“A mill rate is equal to $1 in taxes for every $1,000 in assessed value. To calculate your tax based on your mill rate, divide your assessed value by 1,000 and multiply the…

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Is Now the Time to Buy A Home?

So, you wanna buy a house….  It makes perfect sense. You’re pre-approved for financing, interest rates are at all-time lows, and everybody’s doing it. You’re tired of throwing rent money out the window and ready to start building equity in your own place. It is a great feeling when you realize you can finally buy your own home. Before you pull the trigger, let's make sure you’ve covered all the bases. 

Once you have set out to purchase a home, the baseline of this entire process should be centered around where you wish to buy. Not just geographically, but financially. The three words commonly referred to when discussing real estate are location, location, location. This age-old adage explains why certain areas out-perform others, attract the most…

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SIDEBAR: Where do we go from here?

English majors in college are commonly put through a curriculum that requires reading some of the world’s classic novels and discerning what makes them so. One measure of a great novel is that the reader can see the entirety of the narrative in its first pages. The theme, tone and structure of the early pages of the book foreshadow what is to come. Simply stated, every part of the book leads to the whole and you can absorb this message from every part. Imagine if that were the case right now? We would think in ‘stories’ and write our own.  

Congress is unveiling a proposal that would give most Americans a monthly payment of $2,000 until the coronavirus pandemic begins to fade. This is profoundly necessary relief for those of us who cannot safely…

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The Great Re-Generation

Easter Sunday – 4/12/20 

I noticed this sign on a front lawn Easter Sunday afternoon. It caught my attention, such that I pulled over and took a picture of it to illustrate the message it inspires in these words. When I arrived at my parent’s house, I went straight for the bookcase and lifted my father’s copy of the “The Greatest Generation”, by Tom Brokaw. It was the first thing that came to mind from this image. In light of current circumstances, World War II and Depression Era sentiments would certainly provide a strong dose of meaningful perspective, the likes of which we are unfamiliar. The insights in this book embrace the very essence of the spirit we can reference right now. The level of sacrifice and selfless courage conveyed on its pages…

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THE WISDOM OF SIMPLICITY

Essentials & Basics of the Good Life… 

Anybody out there remember rotary dial phones? How about dial-up internet and AOL’s patented “you’ve got mail” notification as you logged on? For those of us north of 40 years young, we recall a time when we had direct access to far less. No high speed anything. No smart phones. No cell phones at all! Less immediate Entertainment, Stimulation and instant Muse. And we liked it!! That’s right I’m going old-timer on you. Not that I have any right to whatsoever. I do not. But I do remember a time when there was less distraction, noise or what is now commonly experienced as Diffusion. In so many ways we’re “checked out” as a population, fixated on our screens. This is not news. Focused on material rewards, most of…

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RE-SET What we can learn right now…

Here we are furloughed in quarantine, heretofore unseen. Feels like we’re on the set of a sci-fi movie, wondering how and when this story is resolved. At some point the protagonist swoops down and saves the day just as things take a turn for the worst. If we are to stay on script, we’re rapidly approaching the moment when we need the hero to enter stage left. So, where are they? 

Ever notice, award winning movies are often the ones that leave us without any emotional rescue? No happy ending or 11th hour mission that rights all wrongs and puts the villain in his place. Some of us even root for the villain. Why is this? These movies present themselves as realistic. They feel authentic and believable. Films that come across as glib and overly-scripted…

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17 Hancox St Multi-family in Stonington Borough Recently SOLD!

17 HANCOX ST – STONINGTON, CT

Located within the Stonington Borough, this 15-unit apartment building boasts of long-term full occupancy attributed to its shoreline village atmosphere with direct proximity to local shops, restaurants, and recreational attractions within walking distance. 

The property was placed under contract after being on the market for less than a week. With multiple offers submitted, a full price bid was secured and fortified with backup offers as well as further inquiries accrued over the span of the contract period until the date of closing.

Demand for multi-family properties (4 units or more), appears to have spiked over time, fueling speculation that this very demand could be linked to the affordability of home prices…

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THE REAL ESTATE CYCLE

Written by Jon Nelson

THE REAL ESTATE CYCLE - Barring any special circumstances, every home, neighborhood, city, town and state is subject to the inevitable influence of the Real Estate Cycle. Independent of any external pressures, the stages of this ever-changing sequence have been the source of much unnecessary financial and economic strife and leave a permanent mark on homeowners and the municipalities they populate.

If a certain locale is not growing, it may very well be declining. This is a dynamic pattern that can and will impact the indirect and sometimes unforeseeable consequences of consumers unknowingly purchasing ‘too much home’ for their budget. The ripple effects of this are far-reaching and can often accelerate the decline of a…

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