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February 2012

Ledyard Mortgage Monday from The Mortgage Reports

Downpayment gifts are common among today's home buyers. It may surprise you, though, to hear that buyers of all types are taking gifts for downpayment. It's not just first-time home buyers.

Move-up buyers and even buyers of jumbo homes seem to be bringing cash gifts to closing more frequently than in the past.

If you're getting a gift of downpayment from a family member or spouse, make sure you do it the right way. If you do it wrong,  your bank may turn down your loan in underwriting.

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 my favorite mortgage blog.

 


Ledyard Real Estate Update

seaburyfront I'm often asked how we determine "absorption rate".  Absorption rate is an estimate of how fast listings are currently selling measured in months.  For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of  inventory before counting the additional properties that will come on the market.  6 months inventory is considered a "balanced" market.

Currently in Ledyard, there is an average of a 13 month supply of inventory. The $350,000 - $400,000 supply of inventory is the highest at 20 months.  Only 3 homes have sold in that price range in the past 6 months.

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 January 23rd, Ledyard Real Market Reports show a total of 49 contracts have closed in the last 6 months with an average sold price of $222,386 and average days on market of 102. The average list price (asking price) of homes currently on the market is $260,687.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 75 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. 

Ledyard Snapshot

Number of Homes Sold in 2012 - 4

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 2011: $480,000

There were 6 new listings, 2 pending sales and 3 closed sales reported in the past 7 days. 

Photo of my listing at 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 Mortgage Monday

Mortgage UpdateThe 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.

 

Here is the stuff I found worth reading this weekend
from the Keeping Current Matters Blog:

Creating Wealth Through Home Ownership
The Proof!

Mortgage Predictions for 2012 
Mortgage Costs will Increase

Home Prices: Where they will be in Spring
List your home now?


Ledyard Real Estate Update

snowphoto I'm a day late as I just returned from a real estate conference in Phoenix where the weather was way too cool but at least there was no snow.

There is not much activity to report for the past 7 days and only 2 homes have closed in Ledyard so far this year. Showings however, are brisk in many price ranges. I can say that it is as busy as it has been in quite awhile. These showings will soon start showing up as "pending sales".  It is inevitable!



Ledyard Real Estate Statistics

 

Below you will find a link to Ledyard Real Estate statistics provided by Real Market Reports. This report, dated January 16, 2012, includes all residential home sales in Ledyard as reported to the MLS. 

Link to Ledyard Real Estate Statistics

Ledyard Real Market reports that a total of 50 contracts have closed in the last 6 months with an average sold price of $221,338 and average days on market of 97. The average list price (asking price) of homes currently on the market is $256,477.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 75 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 18 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 - 2

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 2011: $480,000

There were 4 new listings, 3 pending sales and one closed sale 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 Mortgage Monday

Mortgage UpdateThe 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.


Here is the stuff I found worth reading this weekend:

Mortgage Rates Hit Record Lows.
Again!

2011 Mortgage Charts and Graphs
In case you missed it last week! Good stuff here!

Exterior Replacement Projects Best Investment
Here's where to put your home improvement dollars.


Ledyard Real Estate Update

It is mid-January and we have only 1 closed residential sale in Ledyard to report for 2012,  but that isn't the total picture. Showings are up significantly and that is a very good thing. Whether it is due to ridiculously low interest rates or dropping home prices, buyers ARE looking.

The Eastern CT Association of Realtors has compiled their annual New London County 2011 Sales by Town for single family homes. You will find it below and can compare Ledyard’s real estate statistics to other area towns.

Ledyard Real Estate Statistics

Below you will find Ledyard Real Estate statistics provided by Real Market Reports. This report, dated January 9, 2012, includes all residential home sales in Ledyard as reported to the MLS.  

Ledyard Real Market reports that a total of 55 contracts have closed in the last 6 months with an average sold price of $218,671 and average days on market of 102. The average list price (asking price) of homes currently on the market is $256,974.

The $150,000 - $200,000 price range contains the highest # of sold listings. A total of 75 listings have expired in that same time period. The $250,000 - $300,000 price range has the highest number of expired listings at 18 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 – 1 

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.     

There were 4 new listings, 3 pending sales and 1 closed sale 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.


The scoop about Ledyard Leaves

Military Highway They are beautiful to look at but certainly create a lot of work when they fall. There seems to be much confusion about what to do with Ledyard leaves. If you don’t have a yard big enough to rake them out of sight, the Town of Ledyard does have two ways to help.

There is no charge to bring them to the town Transfer Station at 889 Colonel Ledyard Highway.  If that is not an option for you, then the town will pick them up. The leaves Must be in biodegradable bags. The bags are available commercially or at Town Hall, Libraries, and Transfer Station. Leaves will be collected on Wednesday of each week.  You must call for a pick-up.”

You’ll find more details on the bulky waste page of the Town of Ledyard website.