Simply Ledyard CT

Ledyard Photo Friday - View of the Thames

One of the prettiest views of the Thames River is from Cardinal Lane in Gales Ferry. I took this photo during a home inspection and couldn’t help but think about Wednesday night fireworks at the Mohegan Sun and how I wished I had my telephoto lens with me.

30-Year Rates Continue to Hold at Record Lows

Fixed-mortgage rates continue to hover at record lows, with the 30-year fixed-rate mortgage staying at the record low of 3.87 percent since the first week of February, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage, the most popular choice among home buyers, has been below 4 percent for the past 11 weeks. 

Here’s a closer look at mortgages rates for the week ending Feb. 16: 

30-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.8 point, matching last week’s average. A year ago at this time, 30-year rates averaged 5 percent. 

via realtormag.realtor.org

The web is full of mortgage and financial news and I find it important to keep up to date and follow any developing trends. Most of the news I view online but some arrives in my inbox. I use the weekend to catch up on my reading, try to get my inbox to zero (never happens), and clean out my feedreader. This article comes from Realtor Magazine.

Ledyard Real Estate Update

Time for a correction? In this week's Ledyard Patch, a comment was made that 150 homes in Ledyard were in pre-foreclosure. “Pre-foreclosure” is defined as the period after the lender has filed a “lis pendens” on the property, indicating the intent to foreclose. In simple terms, this means that the current owners are behind on their mortgage payments. Not all of these homes will end up being foreclosed. Some homeowners will catch up on their payments or make loan modifications with their banks.

There are two prominent sources of information that I use to find follow pre-foreclosure information. One is part of our MLS, called Real List and the other source is a public site called Realty Trac. Real List describes 2 homes in pre-foreclosure in Ledyard, while Realty Trac lists 6. In fact, it appears there are about 169 homes in pre-foreclosure in all of New London County.

Default notices are sent when a borrower is 90 days or more overdue on their payments but those notices slowed down considerably last year when the “robo-signing” scandal put the skids on the process.  That could change if banks start foreclosing at a more rapid pace. It wouldn’t take much to increase the pace but for now 150 seems like much too high a number to be describing Ledyard's pre-foreclosure inventory.

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On February 13th, Ledyard Real Market Reports show a total of 53 contracts have closed in the last 6 months with an average sold price of $216,925 and average days on market of 105. The average list price (asking price) of homes currently on the market is $263,334.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 74 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 17 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. 

 

Number of Homes Sold in 2012 - 14
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009. 
143 residential homes sold in Ledyard in 2008.
    213 residential homes sold in Ledyard in 2007.  
  
The higest priced home to sell in 2012:  $348,000

There were 7 new listings, 9 pending sales and 1 closed sale reported in the past 7 days. 

 

Photo above of 54 Seabury Avenue

Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.

 

Ledyard Photo Friday - Ledyard on Pinterest

I usually don’t jump on the latest social media website until I’m convinced it isn’t going away. I now declare that Pinterest isn’t going away, at least not anytime soon. Pinterest is a virtual pinboard where you can organize and share things that you find online.  My first “board” on Pinterest is called Simply Ledyard. My first “pin” was a photo of Ledyard Town Hall from this Simply Ledyard Blog. If you are a Pinterest user, feel free to add Ledyard pins. You’ll find me on Pinterest at LindaDavisinCT.

CT Has the 7th Highest Foreclosure Rate in the Country

New national data shows 4.1 percent of the state's housing stock was in foreclosure as of December, giving it the seventh highest foreclosure rate in the country according to CoreLogic, which provides analysis of property data.

Even so, Connecticut's foreclosure stock was not even half of the state with the highest amount, Florida, where 11.9 percent of the housing stock was in foreclosure.

Following Florida, 6.4 percent of New Jersey's homes were in foreclosure, 5.4 percent of Illinois' homes were foreclosed on, Nevada's housing stock was 5.3 percent in foreclosure, 4.6 percent of New York's houses were in foreclosure, and just in front of Connecticut, 4.2 percent of Maine's homes made up the foreclosure inventory.

via www.commercialrecord.com

The web is full of mortgage and financial news and I find it important to keep up to date and follow any developing trends. Most of the news I view online but some arrives in my inbox. I use the weekend to catch up on my reading, try to get my inbox to zero (never happens), and clean out my feedreader. This article comes from the Commercial Record.

Ledyard Real Estate Update

I'm certainly not disappointed in our lack of snow this winter. I can't help but wonder if the weather is helping our real estate market because I have some very good news to report  for sellers.
There were no new listings reported during the past 7 days in Ledyard. Keeping inventory low gives fewer choices to buyers and eventually helps stabilize falling prices. To add to the good news, there were 7 pending sales reported. While I can't report that prices are increasing, homes are beginning to sell again.

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On February 7th, Ledyard Real Market Reports show a total of 56 contracts have closed in the last 6 months with an average sold price of $222,446 and average days on market of 105. The average list price (asking price) of homes currently on the market is $262,669.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 74 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 16 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. 

Ledyard Snapshot
Number of Homes Sold in 2012 - 13
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009.
143 residential homes sold in Ledyard in 2008.
     213 residential homes sold in Ledyard in 2007.    
The highest priced home to sell in 2012:  $348,000

There were no new listings, 7 pending sales and 1 closed sale reported in the past 7 days.

Photo above of 5 Birch Street in Ledyard

 

Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.

Ledyard Photo Friday - Snow Contest Underway

Last winter I held several snow guessing contests. This year hasn’t given us many opportunities but it looks like snow may be on the way. Here are the rules: Snow will be measured with the official ruler on my deck in Gales Ferry. You must live in Ledyard now or have lived in Ledyard in the past to be eligible. You must guess by midnight tonight on my Ledyard Facebook Page!  Closest without going over wins a $25 gift certificate to a Ledyard business of your choice.

P.S. Disclaimer: Snow measuring is not an exact science.

Ledyard Mortgage Monday - What Does Warren Buffet Think About Buying A Home?

Warren Buffet is seen by many as the greatest investor of our time. When he speaks, people listen. Like anyone else in his position of influence, he is criticized by some for using his bullhorn to promote his own business agendas at times. That makes it very interesting when we occasionally learn of how he privately advises those closest to him.

“I just thought it was time to buy a home. Warren tells me that it will be the best opportunity in my lifetime. Mortgage rates are low and prices have dropped dramatically…I share Warren’s view about the future of America, and we believe that our country will do just fine. I’m happy to make this investment.”

We at The KCM Crew are pursuing our mission of building a home for real estate information. We are truly dedicated to helping real estate professionals by supplying all the tools and resources they need to be seen as industry leaders in their marketplace. See how we can help you to become an industry leader in your marketplace, and be sure to check out our page on Facebook and follow us on Twitter.

via www.kcmblog.com

The web is full of mortgage and financial news and I find it important to keep up to date and follow any developing trends. Most of the news I view online but some arrives in my inbox. I use the weekend to catch up on my reading, try to get my inbox to zero (never happens), and clean out my feedreader. This article comes from Keeping Current Matters, one of my favorite real estate blogs.

Ledyard Real Estate Update

I know many of you will be cheering for your team in the Super Bowl today. My team, the Steelers, didn't make it this year but I have something else to cheer about today. There were 8 closed sales reported in Ledyard last week and 4 of them closed over $300,000. Only 7 homes sold over $300,000 in the past 6 months, so this is expremely good news!  Go team Ledyard!

 

 

 Ledyard Real Estate statistics are provided by Real Market Reports. This report includes all Ledyard Home Sales as reported to the Connecticut Multiple Listing Service during the past 6 months.

Link to Ledyard Real Estate Statistics

On January 30th, Ledyard Real Market Reports show a total of 49 contracts have closed in the last 6 months with an average sold price of $225,286 and average days on market of 101. The average list price (asking price) of homes currently on the market is $260,901.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 77 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 19 properties. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. 

Number of Homes Sold in 2012 - 12
127 residential homes sold in Ledyard in 2011.
139 residential homes sold in Ledyard in 2010.
149 residential homes sold in Ledyard in 2009.
143 residential homes sold in Ledyard in 2008.
   213 residential homes sold in Ledyard in 2007.  
   
The higest priced home to sell in 2012:  $348,000

There were 8 new listings, 4 pending sales and 8 closed sales reported in the past 7 days.

 Listings and sales reported by the members of the CT Multiple Listing Service, Inc and may not represent all sales.
Information deemed reliable but not guaranteed.

Ledyard Budget Season

 It's here. The Ledyard Budget season. This year is particularly challenging but I say that every year. Here's the scoop. There will be plenty of meetings to attend so watch for dates. Be there and bring your questions and comments. Don't whine. Offer suggestions. The members of the Town Council want to hear from you. We read your emails and respond. 

Want to email the town council?  council@town.ledyard.ct.us