Fannie Mae and Freddie Mac look to speed up the short sale process starting in June.  This is welcome news to those facing a short sale or foreclosure in Norwalk, Stamford, and the rest of Fairfield County.

As many people know, the short sale process can be painstakingly slow.  This is because there are more than two parties that must agree on the price and terms of the sale.  In a conventional sale, there is just the buyer, and seller who need to come to an agreement.  In a short sale there are many parties involved in addition the the buyer and seller including servicers, lien holders, and investors.

Imagine this:  You are trying to plan a gathering with your friends.  If you are just going to lunch with one friend, you only have one person you need to set plans with, and that person normally answers their phone when you call.  Now imagine you are planning a gathering, but this time it is with 5 friends, and 3 of them check their email and voice mail only twice a month.

This is how slow short sales can progress for some sellers and buyers.  They might submit and offer to the bank, but the bank doesn’t get back to them for a week or two, and if they decline the offer and you ask why, they might not even have a good answer for you.

All in all, it is good to see articles coming out about BofA and other investors / servicers who are speeding up the short sale process.  It is good for buyers, sellers, and the overall recovery of the housing market not just here in Norwalk, CT but in every town around the country.

Are you considering a short sale for your house in Norwalk or any other town in lower Fairfield County?  If so, contact Todd for more information about the process and to ask any questions!

 

32 Oakwood # 7, a 1 BR condo for rent in Norwalk, was just listed for $1,600 per month.

This 1 BR condo is BIG at 875 square feet and features an updated kitchen, hardwood floors, washer / dryer in unit, and off-street parking!

For more info on this particular unit, click this link:  32 Oakwood # 7, 1 BR in Norwalk

Click here for more information on every Norwalk rental property

The average mortgage issued in the past three months increased by $20,000 reports Housingwire.com

This is a small increase, but nonetheless a positive one for a housing market that can get all the good news it can get.  This average increase may signal that lenders are relaxing their qualification criteria slightly and that buyers are willing to borrow more (and have a larger monthly payment) than they would have a few months ago.

For more information on this article, visit Housingwire.com

Click here for information on local real estate and to ask Todd any questions about Norwalk property listings.

1 Thames St., a single family home for sale in Norwalk, CT, was just reduced to $239,900.

This charming 3 BR colonial features a large eat-in-kitchen, a large living room, and a great outdoor deck.  Bring your creative flair and make this house YOUR home!

For more information about this Norwalk house for sale, visit 1 Thames St. house listing.

Feel free to email Todd with any questions, or visit www.ToddTurcotte.com to read community reports, search Norwalk listings and houses and/or condos for sale, and access Norwalk, CT real estate information!

Just Rented!

442 Main Ave # A6 just rented for $2,850 per month.  This luxury 2 BR, 2.5 Bath Condo in Norwalk offers over 2,200 square feet of living space, a huge granite eat-in-kitchen, and a 1 car garage.

For more information about this specific unit, visit:  442 Main Ave Norwalk condo rental.

For information on other properties in Norwalk, or to inqui

Here is a new testimonial from a buyer client who just purchased a condo in Norwalk:

 

“I never knew buying a home could be this easy! Todd showed his experience and professionalism from Day 1 and was always available to answer questions. Amazingly enough, finding the perfect house was the easiest part of my move. When I was handling all other moving matters, I knew everything related to the house was in good hands. I would strongly recommend that anyone moving to Fairfield County should consider hiring Todd as their real estate agent. This process couldn’t have been any easier!”

 

-Adam Kirshner – South Norwalk

New Listing!

44 Stuart # A1 was just listed for $1,595 per month.

This BRAND NEW 1 BR condo will be ready for occupancy in early May, and features a large Granite Kitchen with Stainless Steel appliances, Hardwood Floors, a Washer / Dryer in unit, and a 1 Car Attached Garage!

For more information about this specific unit, visit:  http://cmls.paragonrels.com/publink/default.aspx?GUID=118c8628-ca74-4775-8a0b-6a81d65f1178&Report=Yes

 

For more information about Norwalk rental properties, email Todd at www.ToddTurcotte.com

 

Some good news for the housing market: Mortgage applications are up 4.8%.

This increase could mean a couple of different things:

1.  The warmer spring weather is getting more buyers motivated, and they are preparing to buy in the typically busier spring and summer markets.

2.  The rise in interest rates over the last few weeks has spurred some owners to refinance as they might suspect rates are on the rise.

 

Either way, this is good news for the housing market that has produced very little positive news since the downturn in the market.

To read the original article from Housingwire.com, visit:  http://www.housingwire.com/article/mortgage-application-filings-jump-48

For more information on your local market, check out the Community Reports feature of www.ToddTurcotte.com found at:  http://toddturcotte.com/community-reports

 

New Listing!

44 Stuart # A2 was just listed for $1,995 per month.

This BRAND NEW 2 BR, 2 full bath townhouse features a large granite kitchen, porch, master bedroom suite with bath, and 1

Freddie Mac’s chief economist expects the 2012 housing market to improve.  He cites economic growth as one of the leading indicators, as well as shrinking unemployment.  He does expect interest rates to increase this year, up to the 4.5% range, but the overall housing market should get better.

To read the entire artcile from Housingwire.com, click here: http://www.housingwire.com/article/freddie-mac-says-housing-market-awakening-predicts-lower-unemployment?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29&utm_content=Google+Reader

For answers to any questions, email Todd at www.ToddTurcotte.com