Buyers looking to purchase real estate in Norwalk and other towns in the area must be pleased to see interest rates hovering near record lows.

Rates on a 30-year fixed mortgage are currently hovering around 3.55% which is down from about 4.12% this time a year ago.  It is hard to see rates go much lower, but that is what a lot of people thought when rates dropped to 4.5%.  Low interest rates have played a part in stabilizing the housing market.  So far, analysts aren’t in agreement that the housing market has hit bottom and is headed back up.  If it hasn’t, it is hard to believe interest rates will go much lower in order to help the recovery.  If interest rates rise, that will put downward pressure on price.  Sellers, or those thinking about selling are hoping to see prices creep up, but it might be years before we see any consistent price gains in lower Fairfield County.

To read an article on current rates from Housingwire.com, CLICK HERE.

Keep an eye on interest rates, and see how long they can stay at their current levels.  They will certainly play a part in deciding on which direction the housing market goes from here.

Questions about Norwalk real estate?  Email Todd by visiting www.NorwalkRealEstateTodd.com

54 Stuart Ave, an apartment for rent in Norwalk was just listed for $1,750 per month!

This 2 BR, 1.5 Bath townhouse is ready to go!  It features hardwood floors, a finished basement, vaulted ceilings in the master bedroom, washer / dryer, and 2 reserved 0ff/street parking spaces.

For more information about this Norwalk rental, CLICK HERE.

To search every Norwalk rental on the market, visit www.NorwalkRealEstateTodd.com

Most Americans welcome news that points to a stabilizing housing market.  As the topic of much debate in the past few years, the housing market can use all the good press it can get.

DSNews.com reports that the rate of mortgage delinquencies declined in the second quarter.  This is a small positive sign to the housing market as it suggests fewer potential foreclosures on the horizon.  The article also suggests that the numbers indicate that Americans are doing a better job managing their finances and staying on top of their bills.

To read the entire article, CLICK HERE.

For more information on Norwalk real estate, visit www.NorwalkRealEstateTodd.com

32 Oakwood, an apartment for rent in Norwalk, was just reduced to $1,900 per month.

This 2 BR, 1.5 Bath townhouse apartment was built in 2001, and is in great condition.  It features HW floors, laundry in unit, and a huge loft off of the master bedroom.  It is also located near Route 7 for convenient access to the Merritt, I-95, and local destinations.  For more information about this specific unit, CLICK HERE.

You can search every listing on the market by visiting www.NorwalkRealEstateTodd.com!

14 Ferris # 10, a condo in Norwalk, was just listed for $229,900!

This 2 BR, 1.5 bath condo is ready for you to move in!  It features a nearly new kitchen with newer appliances, counters, back-splash, and floor.  The condo has newer carpet, and the full bathroom has been updated.  This condo also offers a full 2 car-garage, a rare find in this price range!

To check out the listing for this condo, CLICK HERE.

For more info on Norwalk real estate, or to ask Todd any questions, visit www.NorwalkRealEstate.com

Milligan Realty.com has just posted a new short sale testimonial video.  Check it out here:

Milligan Realty.com Short Sale Testimonial Video

Visit www.Facebook.com/NorwalkRealEstate for more info.

If you drive down Route 7 in Norwalk, you will notice there has been more activity at the site of 272 Main Ave. in the past few months.

The site has been a vacant lot for years, mostly due to environmental issues.  There was some recent rumors that Lowe’s was looking at the site, but in an article published today on TheHour.com, it sounds like BJ’s Wholesale might be the possible tenant.

A “big box” store at the 272 Main Ave. location is either a good thing or a bad thing depending on who you ask.  It would certainly make for a better visual than a vacant dirt lot, and would also bring some jobs and another established business to Norwalk.  Opponents to a large store like BJ’s cite increased traffic congestion as one of their main concerns.

To read the entire article from TheHour.com, CLICK HERE.

To comment on this story, visit www.Facebook.com/NorwalkRealEstate

POKO Partners is seeking a $5m grant that they say will help them get rolling on phase 1 of Wall Street Place.

TheHour.com reports that POKO has $40m of the the required $45m to complete phase 1 of the project.  Phase 1 calls for:

• 101 apartments
• 236 parking spaces + automated parking garage
• 16,182 SF of retail space

The development would change the complexion of Wall St. and increase activity to the old Norwalk downtown.  However, there is reason to be skeptical.  Over the past few years Norwalk residents have seen 95/7 District take shape only to lose steam and remain a large dirt parking lot.  Phase 1 of this POKO development has been talked about for more than a year.  In September of 2011, officials stood outside of 61-65 Wall St. showing off the “intent to demolish notice” and said groundbreaking would take place in the “not-too-distant future.”

So far, residents are still looking for that to take place.

To read the entire article from TheHour.com, CLICK HERE.

For more information about Norwalk real estate, visit www.NorwalkRealEstateTodd.com or www.Facebook.com/NorwalkRealEstate

If you are in the market for a new rental, keep an eye out for potential scammers.

Remember the phrase “too good to be true.”  If a property is priced well below the comparable properties on the market, something might be wrong (this applies to sales too).  In the case of a property for sale, there might be a serious issue with the foundation or the oil tank, just to name a couple.

The New Canaan Daily Voice reported an incident of a $700 house rental listed on Craigslist.  The woman was from Arkansas and looking for a rental.  For most of us who live in this area, we would know something doesn’t sound right about $700 per month rental in New Canaan.  We would think “maybe they are missing a three and meant $3,700?”  The police looked into it but the paper didn’t have any further information.  To read the article, CLICK HERE.

I know from personal experience that Craigslist is a good place for scammers.  Craigslist will tell you that if anyone asks for money to be wired to an account, or asks for a money order to secure the place before seeing it, etc., you should be skeptical.  About a year ago I had a studio apartment listed for rent around $900 per month.  I received an email from a tenant whom I had been in contact with regarding seeing the place.  He asked me why it was listed for less in a different posting on the same site.  I said it wasn’t but he sent me the link.  Sure enough, there was my rental listing, with the EXACT same pictures that I took, and the same remarks I had published.  The only difference was the contact information.

I called the number and spoke with someone and asked some basic questions about the place pretending I was a renter.  The guy suggested that we meet there are the apartment.  I let him know that I was actually the agent whom he stole the ad from and he quickly became hostile.  I called back after he hung up and spoke with another guy who was even more hostile about me calling him out on his scam.  I told him I was calling the police and he hung up.  I gave the police the link to their scam advertisement and their phone number, but I don’t know if anything came of it.  What I was really concerned about was “what would these guys do if I met them at the apartment?”  Would they just try and get me to sign a fake lease and give money?  Would they outright mug me?  Who knows…

If you are concerned about an ad you saw online for rent by owner, consider contacting a real estate professional.  In most cases there is NO FEE for the tenant to get help finding a place.  The landlord pays the Realtor fee in most cases in this area.  Check out my RENTER’s page to see why it makes so much sense for me to help you find a rental.

You can visit www.NorwalkRealEstateTodd.com for more information on Norwalk real estate and to browse local real estate listings.  Feel free to email Todd or post questions to www.Facebook.com/NorwalkRealEstate

32 Oakwood # 2, an apartment for rent in Norwalk, was just listed for $1,950 per month.

This 2 BR, 1.5 Bath townhouse features a kitchen open to the living room, hardwood floors, and a spiral staircase to a huge loft space!  This townhouse rental is close to the Wilton line.

For more information about this particular unit, CLICK HERE.

To search every Norwalk rental on the market, visit www.NorwalkRealEstateTodd.com and search listings!