July 26, 2012.
Being in the local real estate and property management business here in Fairfield County, Connecticut for close to 20 years I am constantly asked to recommend mortgage companies.
Mortgage originations are available from a number of different companies:
- Local banks to national companies.
- Mortgage brokers.
- Mortgage bankers.
- Internet mortgage companies.
This week I have did a comparison of a few companies for a conforming $417,000 refinance mortgage, primary home, 740+ credit score, greater than 80% LTV, no money out type of loan. Below in the chart you will see the breakdown of rates, fee’s, Principal and Interest payments.
All of the below companies said the process of the refinance loan would take 30 to 45 days depending on the lender.
Tip ~ if you are just beginning to look at mortgage rates for your area a good benchmark to use for mortgage rates and fee’s is at BankRate.com.
When looking at the cost of a mortgage it will break down into four groups:
- Mortgage rate.
- Bank fees and Appraisal fees.
- Attorney Fees including title work and insurance.
- Prepaid items including taxes, insurance and pre-paid interest (depending on closing date)
Group 3 and 4 will be the same with any lender, but not group 1 and 2.
Click on chart for larger view.
July 24, 2012
With mortgage rates yet again hitting new lows the real estate market in Darien, Connecticut is busier than last year when comparing the statistical numbers Year to Date and Year over Year.
Home sales up 12.7% in Darien, Ct and as well these homes are selling faster than last year with an average number of days on the market 124, down 14.5% compared to last year.
The average sales price for these Darien homes are at $1,466,156 which is down 14.8% from last year. But if we dig a little deeper we see the average square feet of the homes have dropped 10.2% from 3,485 SqFt in 2011 to 3,131 SqFt in 2012 YTD June*.
As of today on the Darien MLS there are 142 single family homes for sale and year to date 164 sold homes, which means in the past 24 days there have been 31 closings with another 56 homes under deposit and accepted offers.
*Listing and sales information comes from various sources and may not always be accurate. No representation or warranty is made as to the accuracy of this information. You should verify any information that is important to your buying decision. Data Source: DARMLS
David Popoff is a Connecticut license real estate agent in lower Fairfield County. He has lived and worked in the area for over 30 years and now reside in Darien since 2004.
- Member of the Multiple Listing Service, MLS.Member of the Connecticut Association of Realtors, CAR.
- Greater Fairfield County
- Member of the National Association of Realtors, NAR.
- Green Affiliations.Contact David Popoff for all your real estate needs in Darien, Greenwich, New Canaan, Rowayton and the rest of lower Fairfield County.
- Realtor GREEN designation by the National Association of Realtors.
- David Popoff is an accredited LEED Accredited Professional (LEED AP) Homes and USGBC member of the Connecticut chapter (CTGBC).
- Associate member and an accredited Certified Green Professional (CGP) of National Association of Home Builders (NAHB) and the local chapter HBRA-Fairfield County, Ct. .
Local Real estate market report for Darien, New Canaan and Rowayton, Connecticut for mid-July, 2012 showing activity with a total of 25 closings between the three towns.
Currently on the local MLS there are about:
- 260 single family homes for sale in New Canaan.
- 147 single family homes for sale in Darien.
- 57 single family homes for sale in Rowayton.
Local Weekly Market Reports by William Pitt Sotheby’s.
New Canaan Weekly Market Report ending July 15th shows:
- New Listings at 9
- Price Changes at 7
- Pending Offers at 7
- Closed at 14
Darien Market Report July 11 to 17, 2012 shows: Continue reading
July 16, 2012.
Single family homes in Darien, Connecticut Year to Date have seen an increase of sold compared to last year with a 12.71% improvement. Yet with increased activity the median sold price has dropped year to date compared to last year by 19.63% from $1,449,500 in 2011 to $1,165,000.
On the Darien MLS there are 145 single family homes for sale ranging in price from $399,000 for a 1920 ranch style home on 0.27 acres up to a $26,000,000 for a 5.25 waterfront estate on Contentment Island in the Tokeneke Association.
DARIEN MARKET REPORT UPDATE ~ June 27 – July 10, 2012
- 9 New Listings
- 10 Price Changes
- 8 Accepted Offers
- 7 Deposits
- 34 Closed
. Continue reading
July 16, 2012.
The Greenwich MLS there has a total of 723 listing with 581 of them being single family homes which are very close to last year’s numbers for the same time period.
In the single family category prices start at $385,000 for a one bedroom, 1 bath cottage on 0.45 acres and run up to the highest priced home at $32,995,000 for a 15,862 square foot Elizabethan style Tudor home on 75.70 acres.
*Market statistics from the Greenwich MLS for single family homes show that:-
~ Year to date homes sold are down 32.38% from YTD 2011. With 252 sold YTD June 2012 compared to 305 YTD June 2011.
~ For the month of June 71 units sold down from 105 in June 2011 (-32.4%).
~ Median sales price for June $1,494,000 down 11.1% from June 2011, $1,680,000
~ Year to Date median sale price is down 11.1% from YTD June 2011 of $1,800,000 to $YTD June 2012 of $1,600,000.
With last week’s mortgage rates yet again hitting a new low and with current home prices if you are considering buying a home in Greenwich, Connecticut or lower Fairfield County please call