Category: Real Estate (121)

Our Hamden Office Sales Manager, Joan DiVincenzo, just got back from the National Association of Realtors (NAR) conference in sunny San Diego, CA. The conference hosted some great sessions on social media, the Web, and technology. We can’t wait to have Joan share with us what she has learned and to put all this new knowledge to action! Another of the many ways Calcagni Associates strives to remain at the forefront of technology!

Calcagni005When a buyer views a property, observations are made with all five senses, which in turn creates an emotional response.  Sellers need to be aware of the sensory responses their home may evoke from a buyer and how these responses may contribute to the perceived value of their home and ultimately how long it may take to sell.

The visual reaction to the home begins with its location, develops with the curb appeal, size and condition, and finally culminates with its overall suitability.  During the visual observation the external stimuli will translate into a sense of touch, creating internal reactions to both the home’s cleanliness and textures. Next, hearing perks up and tunes into the sounds of the area or possibly music playing in the background.  And when the sense of smell kicks into gear, both positive and negative smells may stimulate taste buds. As a rule, it’s usually better to have a home filled with a pleasing aromatic food smell rather than one that is floral in nature.  Negative smells can have an adverse effect on a buyer – something to be avoided.

If a home has some negative features that cannot be changed, always be sure to accentuate the positive ones. Create the best opportunity for a buyer to be able to picture themselves and their belongings in the home. Buyers are not going to want to pay top dollar for a home that is dirty, or overwhelmed by neglected repairs – these things will only devalue the home. 

Remember, price and value are not synonymous.  By creating an environment that is clutter free, maintained, rich with aroma, neutral and serene, the home’s first impression will culminate into a sense of well-being – which translates into value-added – and that makes great sense! 

Written by Karen Charest, REALTOR

with Calcagni Associates Real Estate.

 

 

A future generation of buyers & sellers already knows where to go..Calcagni.com!

go to calcagni

Photo_06(Drawn by: Avery Holden – Agent Lisa Holden’s daughter)

 

Is this a Seller’s Market or a Buyer’s Market? As REALTORS, we are often asked, “What market are we in?” The answer is somewhat simple, but it really depends upon the market conditions. Right now for instance, there are many homes for sale, including foreclosures and “short sales.” On average this equates to about a 10-month supply of housing, which would classify this market scenario as a “buyer’s market.” 

One must keep in mind that the statistics and news reports are often reported on a national scale and real estate is more like the weather…every local situation is different and can vary from town to town and state to state. To get a more realistic picture, buyers must look at the inventory in the neighborhood they wish to reside. If there are only one or two homes for sale out of “hundreds” then buyers may find themselves in a “seller’s market” (limited supply and greater buyer interest), and may wish to make offers that are closer to the seller’s asking price and terms.

For more information about what market you are buying in just ask your Calcagni REALTOR!

Written by Joel Grossman, CRS, GRI, Realtor, Calcagni Associates

 Prior to legislation creating Buyer Representation, the adage ‘Buyer Beware’ was in full force. When a Buyer was shown a property by a real estate Agent, the Buyer may have assumed that the Agent was working for him; in fact, the Agent was looking out for the Seller’s interest. 

 

On June 1, 1997 Connecticut Real Estate Agency law changed to address this fundamental inadequacy of the existing law.

 

In order to protect Buyers, the law allows the Buyer to be represented by an Agent. The Agent’s responsibility to the Buyer is based on state law and the REALTOR Code of Ethics. The relationship between the Agent and Buyer is a fiduciary relationship – the Agent owes the Buyer confidentiality, loyalty, disclosure, diligence, obedience, accounting, and reasonable care.

 

The Agent can show a represented Buyer any Connecticut property, point out material problems that the Buyer may not notice, research recent comparable home sales, give advice on offers, and negotiate terms and conditions on the Buyer’s behalf.

 

While the advantages of being represented are significant, some Buyers just want to see a property without obligation to work with a single Agent. In that case, the Buyer may sign a one-day/one property agreement to limit their obligation while being adequately represented for that showing.

 

In the event that a Buyer opts to be unrepresented, they may sign an Unrepresented Person form with the Agent. That Agent may show the Buyer homes listed by that Agent’s Broker, however, the Agent will be representing the Seller.

 

Buyer Representation gives the Buyer the benefit of working with an Agent who will represent the Buyer’s interest.

Written by Donna Hansen Scymanski, REALTOR, Calcagni Associates

In our current economy, with consumer spending down- more people seem to prefer to stay close to home and view their homes as a retreat, a sort of haven… If the place you call home needs a bit of TLC, or you’re looking to increase its value, there are ways to do so while staying within your budget. There are many payoffs – the obvious one being that you will enjoy living in your house, and another being that you may also maintain or increase its value, in the event you ever need to sell.

Tip # 1: Update the Bathrooms

Even if you can’t afford a full remodel, small changes in the bathroom equal a return on your investment. When I moved into my condo, I made the following changes that completely transformed my bathrooms:

  • Removed Wallpaper
  • Updated Lighting Fixtures
  • Replaced Outdated Vanity
  • Updated Plumbing Fixtures with Current Hardware & Finishes
  • Replaced Floor Tiles

These projects were relatively inexpensive to complete and simply required some free time and a little elbow grease. Now, not only do the bathrooms look beautiful, but I’ll be able to sell my condo for more money if and when I decide to move.

For More Home Improvement Tips and Information, Visit http://www.realtor.com/home-garden

This post is the first in a new series I’m writing that is designed to give you ideas on how to increase your home’s value. Please feel free to post your comments below!

Written by Camille Urbano, Relocation Coordinator, Calcagni Associates

I am currently working with a wonderful couple who are first time buyers. They entered the Real Estate market thinking that they would quickly find their first home. What a surprise they had when they were out-bid on 6 different houses! couple1
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You might think this is because they “low balled” each offer they put in, and in fact they did on the first one, but they quickly realized that the homes for sale in their price range were quickly evaluated by all other first time home buyers. As we progressed, they began to offer more aggressively, even going over the asking price on one house – which they lost as well. Finally, they had an offer accepted and are now moving on to the next step of the process.
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As a Real Estate professional, this experience highlights how homes are selling in the first time buyers’ price range, and that this will trickle into other price ranges. Sellers pricing smart and well is only one half of the equation – offering smart by evaluating the competition, the amenities and the location is just as important for the buyer.
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Written by Karen Charest, Realtor, Calcagni Associates

dollar_bills1If you’ve asked yourself lately, ”What can my country do for me?” ask no longer and call your Calcagni Associates REALTOR to make that home purchase you have been putting off. President Obama’s American Recovery and Investment Act signed into law on Feb 17, 2009 provided first time home buyers a unique opportunity to receive up to $8,000 in the form of a credit when purchasing a home between Jan 1 and Dec 1, 2009.

(Of course there are always stipulations and not all buyers will qualify for the full $8,000 credit.)

Here Are the Highlights:

  • First time buyer means purchaser (and purchaser’s spouse). Purchaser may not have owned a principal residence in 3 years previous to purchase.
  • No repayment of credit for purchases made between Jan 1 and Dec 1, 2009.
  • Repayment of entire credit applies if home is sold within 3 years of purchase date.
  • Purchasers who utilize revenue bond funding (CHFA loans, etc.) can use credit.
  • Income limits apply of this program and are as follows:
    • Full amount of credit available for individuals with adjusted gross income of no more than $75,000 for singles and $150,000 for joint returns.
    • Over those amounts the credit phases out.
  • Credit can be used to eliminate income tax liability for the year of the purchase.
  • Credit will be received when tax return is filed.

As always if you have questions about your own particular situation we advise you to consult with your tax advisor.

So don’t wait. Together with low interest rates, well priced homes and wonderful choices this is one opportunity you don’t want to miss. Our Calcagni team is ready to assist you. All you need do is make a call or email us. Do it now.

Written by Joel Grossman, CRS, GRI, Realtor, Calcagni Associates

People love to talk about real estate! Whether it’s at my doctor’s office, hairdresser or just visiting with friends, I get asked about real estate all the time. They know that I handle the marketing and do not sell, but they can’t help themselves – they just have to ask.

Especially now with all of the negative press about the housing market. I quickly remind them that they need to keep in mind that the things they hear or read about in the news aren’t always indicative of what’s really happening in our local market. And although I can’t deny that sales have slowed down over the past year – houses are still selling!

In January alone (typically a slower month in real estate), we saw showings on our properties increase by a rate of 33% over last year during the same 1-month period. What does this mean? Buyers are out there and they are looking to buy.

Written by Kathy Bauer, Director of Marketing, Calcagni Associates