Seaport Real Estate Group Blog - Real Estate

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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What’s the Difference Between a Seller’s Market and a Buyer’s Market?

What’s the Difference Between a Seller’s Market and a Buyer’s Market? As we begin 2019, if you are about to start looking for a home, you may come upon these terms. Beyond a simple definition for each of these, it is very important to know the different factors that define each, and how the different markets can impact a buyer.  This article will examine these areas.

Seller’s Market Defined

A seller’s market exists when there are many more buyers seeking to purchase than there are homes available on the market. Stated differently, there are less houses available to satisfy a larger pool of buyers in the marketplace. This lack of listing inventory leads to rapid (at times excessive) price appreciation, very quick closings, many cash buyers,…

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What is the Difference Between a Financing Concession and a Sales Concession in a Purchase Transaction?

Written by Robert H. Ruth

What is a concession?

A concession is some benefit usually offered from the seller to the buyer that helps in the negotiation to buy a home.  The concession is typically financial in nature, and is in essence, a type of deal sweetener for the buyer. In the real estate finance industry, concessions are also known as Interested Party Contributions (IPC’s).  For this article, I wanted to explain the 2 most common types of IPC’s: financing concessions, and sales concessions.

 Financing Concessions

These IPC’s are paid on the borrower’s behalf by the seller to help facilitate the transaction. Financing Concessions typically cover closing costs for the buyer who is financing the purchase with a mortgage. They are…

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Single Women Are Buying Homes in Record Numbers

Written by Robert H. Ruth

According to two recent studies, one published by the National Association of Realtors, the other by Harvard University’s Joint Center for Housing, single women represent 17% of homebuyers throughout the US. That is a very significant number… it shows that single women are the second biggest demographic segment of the purchase market after married couples. By comparison, single men only account for 7% of homebuyers.

Here are a few significant findings from the studies:

• More than one in five home buyers is a single woman
• There are twice as many unmarried women buying homes than single men
• Single women buyers equal more than 33% of the growth in home ownership since 1994

These statistics are even more…

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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 New Way to Search for Homes Priced Well Below Market Value

The following example can be applied to properties in all price ranges in every town in CT. We are extremely excited to be able to add even more value to our clients than ever before.

Are you planning to purchase a home in these towns in the next 6 months?  Did you know that there are currently 130 properties on the market between $200,000-$300,000?

What if you could have inside information on the pricing for these 136 properties?  How helpful would it be to know which of these 136 homes are priced well below their current market value? Don’t you think having access to this kind of information would help you to make the right decision about which properties to consider buying? 

I have developed a system that can give you access to just this…

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The Value of Being a Client Vs. Customer

 What is the difference between a Customer and Client when buying Real Estate in CT?

One of the factors leading to our success has been a strict adherence to morals and ethics as well as obedience to State and local real estate laws.

As a Customer I CAN do the following for you…. (A Customer has not yet entered into a written buyer-agency agreement)

1.        Send you an automated list of properties available in the market place.
2.        Give you information about our firm
3.        Give you information about local reputable business people.

As a Customer I CAN NOT do the following for you….

1.        Show you properties.
2.        Ask you to disclose confidential information.
3.        Express an opinion or give advice about…

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The time to buy RIGHT is NOW in Waterford, East Lyme, and New London

Are you planning to purchase a home in these towns in the next 6 months?  Did you know that there are currently 130 properties on the market between $200,000-$300,000?

What if you could have inside information on the pricing for these 130 properties?  How helpful would it be to know which of these 130 homes are priced well below their current market value? Don’t you think having access to this kind of information would help you to make the right decision about which properties to consider buying? 

I have developed a system that can give you access to just this type of insider information and, in the process, save you thousands of dollars by showing you which properties to avoid …the ones that can’t sell because they are overpriced.

For…

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Right School ~ Wrong House

What came first, the chicken or the egg? Okay, okay… so I guess we are not here to talk about evolution, but we are here to talk about schools and homes.

As many people know, parents often find a school for their child before they have found a home to live in. So what do people do when they want to find a home in a certain school district or in relation to a specific school? Well look no further, Seaport Real Estate Group provides the only School Directory in southeastern Connecticut that provides school information and gives people the ability to search for homes based off of the specific school they are interested in.

When parents try to find general school information for their children there are several national sites that provide good…

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Getting the BEST PRICE for your Home

Effective marketing is the key to selling your home quickly and getting the highest price. Aggressive, effective marketing of our Client's homes by every available medium is how we've become  top real estate agents in the Mystic area. It's our job to assure that you get as many qualified offers as possible, allowing you to extract the highest price the market will bear.

One of the most important elements of marketing your home effectively is setting the price right. Set the price too high, and you won't get any offers and your home will take too long to sell. Set it too low and you cheat yourself by not getting your home's full, fair value. As  experts in the Mystic area real estate market, We analyze the market and set area home prices every…

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