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Single-family home sales in Connecticut rose 14 percent to 1,519 in January, posting the highest volume for the month since 2008, according to The Warren Group.
Sales of single-family homes in Connecticut increased for the 13th consecutive month in January. This marks the highest monthly sales volume for the month since January 2008, when there were 1,653 sales.
“We ended 2012 on a pretty positive note, and this is carrying into 2013,” says Timothy M. Warren Jr., CEO of The Warren Group. “Recent pending sales data are a hopeful sign for a strong spring market. And given low mortgage rates and steady prices, there are positive signs that 2013 will be a second year of recovery.”
The median price for Connecticut single-family homes sold in January was $215,000, a 2.4 percent increase from $210,000 in January 2012. This is the fourth consecutive month that prices rose in the Nutmeg State.
“Low inventory is slowly driving up prices. This should in turn give sellers more confidence to put their homes on the market,” Warren says.
A total of 442 Connecticut condominiums were sold in January, a near 22 percent increase from January 2012 when 363 sales were recorded.
Condo median prices also increased slightly in January. The median price rose more than 3 percent to $160,000, up from $155,000 in January 2012. The median price of a Connecticut condo has increased in six out of the last seven months.
These changes reflect the Calcagni “Monthly Market Meter” survey that agents fill out each month with their opinion about the market. The market is changing; the time for listings is coming.
We’re very excited to finally announce the launch of our newly rebranded website! We’re very proud of it, and hope you like it too. Check out our official press release, below:
FOR IMMEDIATE RELEASE
CALCAGNI REAL ESTATE UNVEILS NEW WEBSITE
Local independent real estate brokerage announces the launch of their rebranded website
CHESHIRE, CT – March 20, 2013 - After months of research, planning, photo shoots, programming and testing, Calcagni Real Estate, Central Connecticut’s leading independent real estate brokerage, has finally unveiled their new website—www.calcagni.com. The newly redesigned site includes a fresh new look featuring local, unique photography of hidden treasures of our community, improved property search functionality with a Google Maps interface, new agent profile pages, and much more.
The new Calcagni.com was unveiled on Wednesday, March 20, at a company-wide meeting held at their Cheshire office. The site was created over the past several months as a joint collaboration between Calcagni’s marketing department and ‘Think Creative Group’, a local, woman-owned branding and marketing firm.
The timing for the new rebranded site couldn’t be more perfect, “Our new website and overall brand now truly reflect who we really are—the local real estate company that can serve our clients better because we’ve been rooted in the community for decades, know the market inside and out, and we care enough to invest in our local businesses—which means that the money we spend stays in the local community in which we live and work,” said Steven Calcagni, president.
Calcagni Real Estate has spent over 40 years getting to know their towns, building relationships with families and local businesses, and becoming part of the fabric of their community. The firm is continually investing in innovative online tools for their clients as well as for their agents, blending “old school” service with “new school technology.” “The improved functionality of our new website will enable our realtors to better serve their clients and will also help them to make the most of the Spring 2013 market—when I believe the real estate market will turn around,” said Calcagni.
Over the next few months, Calcagni Real Estate is excited to also roll out TV commercials, digital advertising campaigns, social media contests and more to continue to entrench their brand in the minds—and hearts—of their clients and neighbors.
About Calcagni Real Estate:
Calcagni Real Estate has offices in Cheshire, Hamden, Southington and Wallingford, and is a fully diversified real estate company offering residential properties, new construction, land consulting, and commercial properties. All Calcagni offices provide a range of real estate services including market analysis, appraisals, residential foreclosures, property management, and relocation services. Learn more at www.calcagni.com. Follow Calcagni Real Estate at www.facebook.com/calcagnirealestate
It’s time for Calcagni Real Estate‘s OPEN HOUSE EXTRAVAGANZA(rescheduled from the Blizzard in February).
Over 30 houses will be open this Sunday, March 10th. Whether you’re just browsing or ready to make the move, you’re sure to find something to love!
CHECK THEM OUT HERE —–> http://on.fb.me/WKJtuK
You can search all available properties for sale any time of the day, by visiting http://www.calcagni.com
As the market picks back up, you may be thinking about finally listing your home. With this major decision comes another difficult choice: should you use a real estate agent? Agents are paid by commission and you might be tempted to list your home on your own with the intention of saving a little money. However, the advantages to using a trained professional outweigh the disadvantages—and they may actually get you more money for your home. It is, after all, their job.
If you want to list your home on your own, then be prepared for a myriad of additional work, including home staging, piles of paperwork, and negotiation headaches. “Homes that are represented by professional agents generally tend to make more money than those for sale by owner,” says Steven Calcagni, President of Calcagni Real Estate. And, Calcagni reminds us, don’t forget that even if you’re listing solo, your buyer may be using an agent. This means that negotiating a price will be trickier if you don’t have an agent to help you make the most knowledgeable decisions.
Also, without an agent, you have a ton of work cut out for you in terms of showing your home and making yourself available on short notice. Still not convinced? Here are several additional reasons why, according to Calcagni, the help of an agent is the best thing you can do for your home sale.
MLS: This is the biggest reason to go with an agent. The MLS is a home listing database. Anyone who is buying with the help of an agent will be looking on the MLS, and if you don’t have an agent, you will not have access to it. Not only will you not be able to showcase your home there, but you can’t shop for comparable homes to help set an appropriate price.
Stage off: “An agent knows exactly how to set up your home to make it appealing for buyers,” says Calcagni. “They have seen hundreds of homes, sometimes even thousands.” Additionally, it may be hard for you to remove furnishings you’re particularly attached to, like that antique wagon-wheel coffee table.
“You agent can help you make unemotional, unbiased decisions about what should stay and what should go in order to attract good attention and avoid negative,” says Calcagni. “Unless you specialize in interior design, this will be a difficult task for you to do solo.”
Pricing: “I can’t stress this enough,” says Calcagni. Even the most knowledgeable for sale by owner (FSBO) sellers can’t harness the vast market knowledge of an agent. “Comparable pricing is key in this industry, and if you list your home for the wrong price, you may be sabotaging your sale.”
Marketing: Agents have network resources unavailable to FSBO sellers, including an abundance of contacts, marketing materials, online platforms and social media networks ready to blast your listing. “Marketing your own listing takes up a ton of time,” cautions Calcagni. “Aside from all of the time you will spend putting your listing out there, you will also spend hours going back and forth with potential buyers, many of whom may not be serious about purchasing. Your agent will do this for you.”
Details, detail, details: Closing fees. Contracts. Regulations. Sales guidelines. All of these details are extremely important when it comes to selling your home, and they can be both confusing and time consuming. “If you forgo some important paperwork or misfile a form, you can delay or derail your sale,” warns Calcagni. “An agent is already an expert—let them take over and save yourself, time, stress, unnecessary expense … and a headache.”
For more information on selling a home, please contact your Calcagni Agent or visit www.calcagni.com
Pending home sales rose in January, and have been above year-ago levels for the past 21 months, according to the National Association of REALTORS®. There were healthy monthly gains in all regions but the West, which is constrained by limited inventory but was slightly improved.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 4.5 percent to 105.9 in January from a downwardly revised 101.3 in December and is 9.5 percent above January 2012 when it was 96.7. The data reflect contracts but not closings.
The January index is the highest reading since April 2010 when it hit 110.9, just before the deadline for the home buyer tax credit. Aside from spikes induced by the tax credits, the last time there was a higher reading was in February 2007 when it reached 107.9.
Lawrence Yun, NAR chief economist, said inventory is the key to this year’s housing market. "Favorable affordability conditions and job growth have unleashed a pent-up demand. Most areas are drawing down housing inventory, which has shifted the supply/demand balance to sellers in much of the country. It’s also why we’re experiencing the strongest price growth in more than seven years," he says.
"Over the near term, rising contract activity means higher home sales, but total sales for the year are expected to rise less than in 2012, while home prices are projected to rise more strongly because of inventory shortages," Yun says.
The PHSI in the Northeast rose 8.2 percent to 84.8 in January and is 10.5 percent higher than January 2012. In the Midwest the index increased 4.5 percent to 105.0 in January and is 17.7 percent above a year ago. Pending home sales in the South rose 5.9 percent to an index of 119.3 in January and are 11.3 percent higher January 2012. In the West the index edged up 0.1 percent in January to 102.1 but is 1.5 percent below a year ago.
Yun expects approximately 5.0 million existing-home sales this year. However, price growth could exceed a 7 percent gain projected for 2013 if inventory supplies remain low. Previously, NAR had expected 5.1 million existing-home sales in 2013, while prices were forecast to rise 5.5 to 6.0 percent.
With Valentine’s Day coming up and nearly 30 open houses this Sunday, what’s not to love? Join us Sunday, February 10th at any of our open houses. Whether you’re just browsing or ready to make the move, you’re sure to find something to love.
Now that spring is approaching, homeowners are getting serious about preparing their homes for sale. If putting your home on the market is at the top of your to-do list this season, be sure to carve out some time to do some serious spring cleaning. Not only will a thorough cleaning make your home stand out from the crowd, it will also force you to get rid of the clutter that has accumulated during the winter months so that prospective buyers can see everything your home has to offer.
De-clutter: If you’re preparing to sell your home this spring, one of the first pieces of advice you’ll get from your real estate agent is to reduce the amount of clutter in your home. By cleaning out your home and getting rid of the clutter, you’ll set the stage to attract prospective buyers. Take the time to go through all your closets and bag up all the clothes that don’t fit, are out of style, or that you simply don’t wear anymore and donate them to Goodwill. You can even put together a garage sale with any old books, toys your kids no longer play with and anything else that you don’t need.
Don’t Neglect the Exterior: When it comes to spring cleaning, be sure to take care of the outside of the home as well so that your home offers a good first impression to prospective buyers. Curb appeal is as important as ever since house hunters are more likely to spend more time outside looking at the exterior of the house and the property itself. Make sure the lawn is well-maintained and free of leaves, the grass is mowed and the hedges are trimmed. You can even buy some colorful flowers and put fresh mulch in the flowerbeds to spruce up the landscaping. If there are any bare spots in the grass, buy some seed and water it to get the green back in. Make sure to also clean your gutters, wash your welcome mat and put away any rakes or winter shovels so that your yard is clear of debris.
While you’re outside, take advantage of the nice weather and power wash your driveway, walkway, siding and deck. Not only does power washing remove layers and years of dirt and grime from stone and cement, it also gets rid of mildew stains that may have accumulated during the winter. Power washing the porch, a fence or even the deck will clear away all the dirt and debris and make the home instantly seem cleaner. The last thing you want prospective buyers to see is a dingy looking house, as this will give the impression that you haven’t been properly maintaining the home.
Windows: Don’t forget to make sure all the windows are clean as well. While a REALTOR® may tell you that homes show better with the blinds or curtains up, this will not be true if the windows are dirty. A clean window not only brings more light into a room, it also allows buyers the chance to get a clear picture of the view from their potential new home. It’s important to clean both the inside and outside of all windows until they are streak free and spotless. This includes all sliding glass doors, garage windows and outside doors.
Take Inventory: While you’re going through your spring cleaning routine, pay close attention to the “little” things that might draw the eye of a prospective home buyer. Go around your home with a pad and pencil and dissect each room for things such as small holes in the wall where a painting used to hang, outlets that are missing a casing or doorknobs that are loose and squeaky. Also, be sure to check all of the caulking around sinks, faucets and tubs. This is one of the areas that is most often overlooked and can make the biggest impact on someone looking at the house. The same thing goes for any grout in tile counters or bathtubs.
Take the time and invest the small amount of money it will cost to fix these items to remove any hesitation a prospective buyer may have about moving forward with purchasing your home.
For more spring cleaning tips, contact your Calcagni agent today.