Accessory Dwelling Units (ADUs)

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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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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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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Time Kills Deals - Do Your Research - Real Estate Raw&Uncut Episode 185

Real Estate Raw&Uncut is for: Realtors, Agents, Buyers, Sellers, Brokers, Attorneys, Lenders, or just anyone that wants it "REAL" in REAL ESTATE! No hidden lies, none of that Realtor "fluff", no TV drama, no media BS... only the cold hard truth which we deliver unscripted and unfiltered with a new episode every week.

Episode 185: Chances are very good that your seller will receive much less in the long run for an overpriced property than if the property was priced correctly from the start. Most people accept and understand this concept. What many do not recognize is that knowing your product prior to listing can prove to be instrumental in getting the deal done. It is imperative that you have the following information before placing a property on…

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Zillow Group - A Catalyst for Change

It may be time to push the chair back from the table and stand up to the behemoth before us.  We as real estate professionals should not be threatened or scared of the paradigm shift that is currently taking place in the industry. We must embrace change and be nimble. There is an opportunity for the Brokers in this country to come together as one. An opportunity to create a portal that will enable the real estate industry to grow and thrive indefinitely.

Let’s back up a few years and look at Zillow’s business model. Zillow proposed to add value to the consumer by offering a Zestimate.  The Zestimate made the consumer flock to www.zillow.com .  The consumer felt that they now had a tool offered by a disinterested third party that made the Appraiser…

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Now is the Time

Despite our typical beliefs, now is the time to place your property on the market. Consumer confidence is as high as we have seen in the past decade due to low interest rates and historically low gas prices. 

The abnormally high number of sales in the lower price ranges will be having a ripple effect throughout higher price ranges in the  months to come. 

View our latest video on this topic below or https://youtu.be/DSE3NZLBmQw

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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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High Hopes For the Mystic Country Economy (Written April 29th,2010)

A recent article in The Day News Paper quoted an economist as says, “Connecticut housing has become
more affordable relative to residents' income, declining from a high of 5.4
times income to a current level of 4.2 times income - still about a point
higher than the national average.”

This was a great article and I think that it deserves a look. Click here
to view the article. We feel that the Mystic Country portion of CT is extremely
unique and must be analyzed independently form the remainder of the state.

Homes selling at 4.2 times income levels are not necessarily a great thing. If
we take a look at the Case-Schiller Index which states that equilibrium in a
perfect world is 3 times household income then we still have a long way to go.
Those figures become much…

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