Found 6 blog entries tagged as Mystic Real Estate.

ADU


Accessory Dwelling Units (ADUs), also known as accessory apartments, in-law apartments, or granny flats, are small, self-contained residential units that are located on the same lot as an existing single-family home. In Connecticut, ADUs are allowed in some towns and cities, but not all.

ADUs are designed to provide affordable housing options for families or individuals who want to live close to their loved ones or generate additional rental income. These units can be attached to the main house or detached and can be used for a variety of purposes, such as rental income, multigenerational housing, or additional space for a home-based business.

In Connecticut, the state legislature passed a law in 2021 that requires all towns and cities to…

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Caveat Emptor – Latin for: “Don’t buy a house right now”

 

Sage advice indeed. Unless your circumstances warrant it and you’re ok parting with a few extra shekels you may never see again. Not to worry. Prospective buyers in most price ranges have largely backed away from the buffet table at this point. They haven't had much choice in the matter.

The purpose of my rant today.

The tide has turned, kind of…

It’s not a great time to buy or sell. Excluding those under duress without the luxury of a choice, or the ultra-wealthy paying cash.

For most, it hasn’t been the best time to buy for quite a while, but obviously a great time to sell throughout the “Covid-fueled, no inventory” seller’s bonanza we’ve witnessed over the last few…

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So, you wanna be a landlord….

The realities of dealing with a nightmare tenant

 

By Buddy Kane

 

 

 

For those of you that read “Rich Dad, Poor Dad” and utilized this playbook to acquire rental properties prior to Covid, interest rate hikes, and the vanishing of real estate inventory, Bravo! You’ve done well in acquiring rental properties that now command increasing rents and low vacancy rates. It’s good to be you. Life is even better when using other people’s money to pay your mortgages down while collecting cashflow from a hard asset in an inflationary environment. Not to mention the eventual capital gain potential over the long term. This is the good news.

That being said, it’s important to be aware that every sparkling…

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CONTINUING EDUMACATION

“C.E.”

 By Buddy Kane

 

 

It’s that time of year again. The weather is breaking, the birds are chirping, and once again I’ve waited ‘til the last minute to complete my continuing education credits. There is something bittersweet about a mad dash to the finish line under the wire. I must enjoy getting it done this way or I would have already taken care of business like the responsible adult I aspire to be someday.

There’s a certain measure of gratitude that accompanies 11th hour urgency. Tasks become reactionary, in a full contact sport sort a way. I’m able to make tracks quickly when the only way to proceed is forward, and fast. Wisdom, and motivation come suddenly.

In this space, I tend to think out loud…

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IMPERSONATING TODAY’S AGENT

By Buddy Kane


Greetings...

 BK comin at you with another self-realization to help you all feel better about yourselves.

As the misfit I appear to be as an agent, I’m little more than an imposter in the local real estate industry and all its foibles. How could I possibly fit the mold of an accepted agent in this elite club even if I wanted to? I don’t close a volume of deals. I don’t receive Gold, Platinum, Titanium, Round Table achievement awards, and I don’t drive a Range Rover. I’m doomed to remain a mid to low level agent that leverages a real estate license as merely one stream of income amongst other revenue sources.

A “loser”, some may say. Guilty as charged, I suppose…

So why do I assume this…

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SHOW YOUR WORK

By Buddy Kane

 

 

 

Got a call last week from a past client interested in selling one of his properties. Having dealt with him previously, I was well versed in his fly by knight style and approach. Upon fielding his inquiry, I listened with an experienced awareness, knowing what cues to look for that would help me cut through an extended dialogue and boil it down to exactly what it was he wanted from me. What ensued from this point was an opportunity to apply an evolving philosophy I’ve learned the hard way over a longer period of time.

First, some background to provide context. Looking back on my student years, school was not my finest hour, aside from some extra-curriculars. Academics was never a strong suit of…

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