Seller Paying Buyer Closing Costs

Keith-TurnerI received this little cheat sheet from Keith Turner from McCue Mortgage and I thought it was a good one to share with Ledyard buyers and sellers.  When negotiating an offer, buyers often ask sellers to assist with closing costs. While this is a good way to get help with a home purchase, there are limits of how much money the seller can contribute.

FHA – 6%

VA – 4%

USDA – 6%

Conventional (with less than 10% down payment) – 3%

Conventional (with 10% down payment or more) – 6%   

CHFA/HFA (with less than 10% down payment) – 3%

CHFA/HFA (with 10% down payment or more) – 6%

*CHFA doesn’t have any overlays/limits themselves.  They will just follow the insurer, so for CHFA/FHA the limits follow the FHA rule of 6%, for CHFA/VA they follow the VA rule of 4%.

So for example: with a Sales Price of $100,000 on an VA mortgage, the seller can only contribute up to $4,000 towards your buyers closing costs.

Thanks Keith!

Town of Ledyard Meeting Schedule

The Ledyard Town Council and other Ledyard Committee and Commission meeting agendas for the week beginning January 15th can be accessed by going to  Select all meeting groups on the pull down on the left or just the meeting you are interested in.  Members of the public are welcome to attend all meetings except those held in executive session.

Board of Education meetings can be found at the BOE web portal.

Ledyard Meetings

Top Ten News Stories in Ledyard in 2016

Food Pantry ledyardJanuary is the month for lists.  In the past, the local newspaper published a list of the top stories of the year in each of the area towns. It was something I always looked forward to reading but sadly that tradition has ended so I feel obligated,  with a little help from my friends,  to create my own list. The Ledyard Community Forum on Facebook helped  with plenty of suggestions so coming up with top stories was fairly easy. Deciding which made the cut and then putting them in numerical order was the difficult part. I’m sure depending where you sit, some of the choices would be different.

In 2016 weather events didn’t make the top ten. No hurricanes, no major blizzards , no earthquakes and no lizards. May 2017 bring more of the same.

#10  We wish it had been a Trader Joe’s but Dollar Tree opened in the Ocean State Job Lot Plaza in a spot that seems to have been empty for a lifetime. Although the parking lot is still ugly, it sure did improve the over all appearance of the place.  Now if they would just take care of the huge McCrater, at the traffic light exit. I’m hoping that in 2017 we will see some improvement at Cartway  as even the mere mention of the name  creates a firestorm on Facebook.

#9  The Ledyard Food Pantry celebrated the one year anniversary of its new location at the Ledyard Congregational Church. During 2016, the number of visits to the pantry tripled proving at least to me that the private sector often does a better job of  government.

#8  The Ledyard Community Forum reaches 4000 members. Actually that didn’t happen until a week into January but membership rapidly increased through 2016. I would never imagined when I created the group in 2011 that it would grow as large as it is.

#7  Gales Ferry gets a Christmas Tree and Facebook Forum Headquarters.  I've always thought it would be nice to have a community Christmas Tree in Gales Ferry/Ledyard. Well thanks to a whole lot of people, it  happened. Former Mayor John Rodolico found the tree which was donated by Alan Habbe. Glenn McKenzie created an in ground stand for it. The Hirschfeld's volunteered to pick up the 16ft tree and transport it. The tree was transported on time to Ledyard Community Forum Headquarters at the corner of RT 12 and Military Highway owned by Merry Cassabria. Brouwers Tree Service volunteered their cherry picker for the lights.  Residents donated cookies and lights and decorations and all around help. Barry Watrous helped direct and took some great photos. Steve Holyfield captured the official nighttime photo. How cool is #8?!


Gales Ferry Christmas Tree Point



#6 Ledyard gets a cool new Superintendent of Schools. Jason Hartling was selected in August as the new Superintendent of Schools. I like his views on budgeting,  transparency and communication. He’s even on Twitter. That’s cool.  I’d call him the Great Communicator but I reserve that title for President Ronald Reagan. 

#5 Gypsy Moths invade Ledyard.  Ledyard was overrun by the nasty critters but those in Gales Ferry were hardly affected and may be in for a rude awakening. I’d recommend we all pray for a wet spring because the state seems clueless about how to handle the issue. There is a Town of Ledyard Gypsy Moth Committee that has been formed to consider aerial spraying. Visit and select Gypsy Moth ad hoc committee for meeting group for meeting dates, agendas and minutes.

#4 Ledyard Trunk or Treat becomes YUGE.  49 Vehicles were decorated and 1600 people walked the grounds including 900 little ones. Merry and I passed out cotton candy.  Can you say sticky?

Ledyard Trunk or Treat photo

#3 Speaking of YUGE, as a political junkie, 2016 couldn’t have been more interesting to watch. If someone would have told me a year ago that Donald Trump and Bernie Sanders would win the Ledyard Primaries each with about 53 of the vote, you could have knocked me over with a feather. I wasn’t surprised at all to see Trump go on to win in Ledyard in November. The lack of Clinton signs and local enthusiasm seemed to be a good indicator.

#2 Ledyard gets a new Police Station. Although the voters approved a new police station in May of 2013, it took over 3 years to complete due to site work issues. I think the location next to Town Hall made it worth the wait especially combined with the improvements in the Ledyard Town Center. In 2016, Ledyard Swore in its first ever Police Chief, John Rich as Ledyard moved to an Independent Police Department.

#1 Neighbors Helping Neighbors. Ledyard is an extremely generous community. Although I often worry about “donor fatigue”,  Ledyard never stops giving whether it is for Food Baskets, Stuff a Cruiser, the Santa Drive,  or our First Annual Comfort and Joy Event gathering warm accessories for our neighbors in need. The Boy Scouts collected over 7000 food items during their annual Scouting for Food Drive and the Cub Scouts were there to help then and though out the year as were our firefighters, Parks and Recs Department and many other groups throughout Town.  Thank you.

Each of you who contributed in some way is #1.



Ledyard Real Estate Update

downloadHappy New Year Ledyard Neighbors!

It was quite the interesting year in Ledyard Real Estate. We started off slow but things began to show promise by summer as the number of closed sales improved while at the same time prices began to creep up ever so slowly.That trend continued throughout the year and 2016 ended on a very positive note with the highest number of closed sales since 2005. Median sales prices increased by a very respectable 5%. We are still far from our peak years of 2005 and 2007 but are finally moving in the right direction.  

Combine that good news with the lowest inventory in recent years and we have the makings of a seller's market. I am forecasting a very good spring market for sellers.

On the Market

Inventory is at the lowest level of recent years (good news for sellers). On January 1st there were ONLY 65 single family homes on the market with a median price of $265,000. 

Current Pending Sales

There are currently 33 pending listings with a median list price of $200,000. There are currently 12 pending sales but "Show for Backup" with a median list price of $270,000. Homes are often listed as "Show for Backup" when there may be a concern about contract contingencies including financing. 

Closed Sales

In 2016, there were 247 closed sales in Ledyard  with a median sales price of $204,000.

The year ended with a bank with 22 closed listings in December with a median sales price of $231,000.

While it is useful to follow month by month, a 6 month trend is a better indicator of market conditions.

The median price of the 129 homes that have sold in the past 6 months is $215,000.

Real Estate News

Buying a home or refinancing?  Click Here for almost everything you want to know about mortgage rates.

Data to Consider

This LINK will take you to 2015 New London County Market Statistics by Town, including Ledyard as prepared by the Eastern CT Association of Realtors using sales reported by the members of the Connecticut Multiple Listing Service. 

About the author:  Linda Davis has been a licensed real estate agent in Ledyard CT for over 35 years. She has a long history of community service and currently serves as Chairman/Deputy Mayor of  the Ledyard Town Council. Linda is the administer of the popular Ledyard Community Forum on Facebook and also teaches and speaks on technology, mostly for beginners. Linda can help with homes for sale in Ledyard as well as homes for sale in Eastern CT including, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.

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

Town of Ledyard Meeting Schedule

Ledyard Town HallThe Ledyard Town Council and other Ledyard Committee and Commission meeting agendas for the week beginning January 8th can be accessed on the Town of Ledyard’s Media Portal. There is a Town Council meeting this week which will include discussion of Gales Ferry Landing, the formation of a Charter Revision Commission and scheduling of a Land Use Workshop. Members of the public are welcome to attend all meetings except those held in executive session.

Board of Education meetings can be found at the BOE web portal. 


Ledyard Meetings

Town of Ledyard Meeting Schedule

The Ledyard Town Council and other Ledyard Committee and Commission meeting agendas for the week beginning January 1st can be accessed on the Town of Ledyard’s Media Portal. There is a Town Council Land Use Committee meeting as well as a Finance Committee meeting this week. A number of important budgetary items will be discussed at both meetings, Members of the public are welcome to attend all meetings except those held in executive session.

Board of Education meetings can be found at the BOE web portal.

Ledyard Meetings

30 Second Ledyard Real Estate Update

With New Year's Day falling on a Sunday and many real estate offices taking Monday as a holiday, stats for many transactions will be inputted into the MLS later this week. As a result, I've decided to wait until next weekend to prepare my December end of year update.

For now I would just like to tell you that inventory (the number of active listings) in Ledyard is at a 10 year low with only 69 residential homes on the market. That's great news for Ledyard home sellers and a possible sign of a good market ahead!

Happy New Year!Ledyard Community Forum (1)

Providing Comfort and Joy in Ledyard

Last week, Jessica Wrobel, her awesome husband Alan and I, on behalf of the Ledyard Forum and Friends of the Ledyard Food Pantry delivered the last of the 21 baskets to those in our community that needed a little extra help this Christmas. Thanks to members of the forum we were able to distribute a Turkey or Ham with all the fixins plus lots of little extra's. Bev Nachtwey and her sisters baked all week to provide home made goodies for each of our baskets. And although we called them baskets, each "basket" runneth over into bags and boxes. They were distributed to our neighbors that members of the Ledyard Community Forum on Facebook suggested who are not eligible to be helped by social services. Thank YOU!

In addition, we finished the distribution of hats, scarves, gloves and socks.Thank you again to all those that knitted including the Senior Center and the Gales Ferry Library Stich and Dish Knitting Group who showed off their talents with their beautiful donations.

Over 100 members of the Ledyard Forum contributed items of food, gift cards, and warm accessories that offered Comfort and Joy to members of our community.

I hope you never get tired of us thanking you for your contributions. We are very proud of our community.

Merry Christmas from the Simply Ledyard Blog

Today I’m sharing one of my favorite Santa photos and one I share every year even though it wasn’t taken in Ledyard. I have two nice folks to thank for this wonderful photo taken at the Avery Point Light House in Groton. Dale Treadway, is a Gales Ferry resident and founding member of the Avery Point Light House Society. The society raised funds to help preserve and restore the lighthouse at Avery Point.  Dale initially sent the photo to me. Ron Foster is the photographer who kindly gave me permission to use it here. You can read more about the history of the Avery Point Light House on Wikipedia.

Merry Christmas to those that celebrate the season!

Santa at Avery Point

Ledyard Holiday Trash Talk

Ledyard Trash and Recycling pickup will be on a normal schedule for the weeks of December 26 & January 2.

The Town's garbage contract with Willimantic Waste allows for a special provision the week after Christmas. Extra trash may be placed next to a full trash container and recyclable materials may be placed next to the recycling container. The overflow trash must be neatly bagged and recyclables are limited to neatly flattened and stacked cardboard and boxboard. Remember, Styrofoam is not recyclable.

For the Christmas/New Year’s weekends, here are the Transfer Station hours:
Saturday, 12/24 9:00 am to 12:30 pm
Sunday, 12/25 Closed
Saturday, 12/31 9:00 am to 12:30 pm
Sunday, 1/01 Closed

To find out more about Curbside Collection Service and Cart Information Click HERE.

From the Ledyard Town Website:

Ledyard uses the “Single Stream” recycling collection method. This means that the material your household places out at the curbside - newspapers, cardboard, bottles, cans etc. - is collected all together. The recyclables will be sorted at the Single Stream Recycling Facility especially designed to process and sort the mixed recyclables. Single Stream recycling makes collecting materials at the curbside much easier. Homeowners and recycling collectors don't do any sorting making recycling even easier.

Remember that recycling saves your tax dollars.  For every ton of recyclable materials not sent to the incinerator the town saves at least $63 between reduced tipping fees and recycling revenue. So not only do we save money but also make money.