Welcome to the year 2012, the year of the “home buyer.”

Perspective is everything.  That can certainly be applied to our current real estate market in the US.  If you are a seller, who purchased your home in 2005-2007, the current real estate market probably gives you indigestion.  Your home is likely worth much less than you paid for it, and you are “upside down” in your mortgage.

If you in the market to purchase a property, things are looking great!  Here is what we know:

1. The bursting real estate bubble, along with a slew of foreclosures, has suppressed prices to levels not seen since 2000-2003.
2. Interest rates are still near record lows, around 4% for a 30-year fixed.  Rates are even lower for a 15 year fixed rate.
3. The worst of the housing crisis seems to be behind us.
4. Rent increased in 2011, and that trend is expected to continue in 2012.

 

2012 will be a great time to buy a property.  In most cases, you can pay less each month for a home you own, than you would to rent a comparable property.  Not only is your monthly payment a little less, you are paying down principle each month, and building equity.  As rents continue to rise, you can rest assured that your mortgage payment will not (if you have a fixed rate mortgage).  Taxes and insurance on your property may increase, but your mortgage payment will not.

Most economists are reporting that the housing market should stabilize in 2012.  There are still a lot of foreclosures that need to be processed.  The speed an efficiency that bank’s process the foreclosures (foreclose on the property, and sell on the open market) should increase in 2012, however the low interest rates should help keep prices stable.

No matter if you are a first time home buyer, purchasing an investment property, or buying a second home, 2012 will be a great year to enter the market.

For insight on the top 5 reasons to own a home, see this Quicken Loans.com article:  http://www.quickenloans.com/blog/top-5-reasons-buy-home-2012

 

For more information, or to contact me with any questions, visit www.ToddTurcotte.com

 

 

 

 

Just Reduced!  126 Washington St. # 201 was just reduced to $1,795 / month.

This SoNo 1 BR is right in the heart of the action in downtown Norwalk.  Walk to shopping, restaurants, bars, metro north train, and Vet’s Park.

For more information about this specific unit, CLICK HERE

 

For questions about this property, and to search every listing in Fairfield County, visit www.ToddTurcotte.com

 

Just reduced!  5 Elmcrest Terrace # 7 was just reduced to $269,000.

This Norwalk condo was built in 2005, and features a granite kitchen, bath, and full basement!  It also offers OFF/ST reserved parking.

For more information about this particular unit, CLICK HERE

 

For information about Norwalk real estate, and to ask any questions, visit www.ToddTurcotte.com and contact me!

Tax time is here!  Most people aren’t a fan of organizing their finances to file their taxes.  Whether you file them yourself, or go to your CPA, it is a good idea to know which deductions work in your favor.

Here is an article from inman.com, with the top tax breaks for homeowners:

http://www.inman.com/buyers-sellers/columnists/taranichollenelsoninmancom/top-5-tax-breaks-homeowners

 

Feel free to ‘contact me’ via www.ToddTurcotte.com with any questions.

New Listing!  1 Thames St. was just listed for $259,900.

This 3 BR colonial house in Norwalk offers a large living room, charming 3 season porch, large deck, and newer stainless steel appliances.  For more info about this specific Norwalk house for sale, CLICK HERE

For more information about every propertie

New Listing!  14 Woodbury # 2 was just listed for $1,550 / month.

This huge 2 BR apartment in Norwalk boasts 1,400 SF of living space, an updated kitchen and bath, washer / dryer, dishwasher, H/W floors throughout, OFF/ST parking, and an available garage space for just $25 more per month.

This apartment is convenient to I-95, the Merritt, and Route 7.  It is also just a mile away from all the attractions in SoNo, and the train.

For more information about this specific apartment, CLICK HERE

 

For more info on Norwalk real estate, visit www.ToddTurcotte.com

 

New Listing!  9 Glenwood # 1 was just listed for $1,875.

This is in the same complex as the last listing at 9 Glenwood.  This new 2 BR townhouse has never been lived in!  Come peel the plastic off the new stainless steel appliances!

To read more about this particular property, visit:  http://cmls.paragonrels.com/publink/default.aspx?GUID=cf31f3b0-7e44-4684-9f42-ea292a52925a&Report=Yes

For info on every property in Norwalk, visit www.ToddTurcotte.com

 

 

New Listing!  36 Wolfpit # A 2 was just listed for $850 / month.

This Norwalk studio apartment is bright, clean, and ready to go!  The apartment features new Pergo floor in the kitchen, and newer appliances and carpet in the living area.

For more info about this particular Norwalk apartment, visit:  http://cmls.paragonrels.com/publink/default.aspx?GUID=519e9839-8142-46c6-80cb-57f49b56c3e5&Report=Yes

 

For more info on Norwalk real estate, or any questions, visit:  www.ToddTurcotte.com

 

InMan.com is a good website for real estate information.  They published an article on 12/27 with 4 predicitons for the 2012 real estate market.

We have heard most of these predictions already, from one source or another, but it is always beneficial to read these predictions from sources that have different points of view.

One particularly amazing number they mentioned is “62 years” as in the length of time needed to clear the back log of foreclosures at the current rate the banks are going through them:

Earlier this  year, the New York Times reported that the additional hurdles New York  state courts are requiring banks to leap in the wake of the robo-signing  revelations, like additional settlement meetings with the homeowner to  see if a modification can be brokered, have created a backlog of  foreclosures that it would take 62 years to clear, at the current rate  of foreclosure.

To read the entire article, CLICK HERE

New Listing!  4 Van Zant # B9 was just listed for $1,295 / month.

This 1 BR condo for rent in Norwalk is completely updated.  It features a brand new kitchen with new appliances.  It also has heat and hot water included in the rent!  Just pay electric!

For more info about this specific Norwalk condo rental, CLICK HERE.

For info about every property for rent and for sale in Norwalk, visit www.ToddTurcotte.com