55 Slides to consider our Third Quarter 2018 Local Real Estate Market. Be an expert in your market by teaming with Dave "The Foundation of Your Success in Real Estate, Here When the Time is Right for You Since 1996(c)"
https://www.youtube.com/watch?v=7R1aJGsjrTQ
12/17/18 – The Milford – New Haven Metro Carr House Price Value Shelf (FHFA HPI 171-178
since 2Q2012) presented improvement ending September 30, 2018 with an increase of 2.07
to 184.00 (from the 182.92 which
ended 2Q2018). Most Single Family properties acquired before 3Q2004 (186.33)
and after 1Q2011 (181.66) are worth more today.
Some
properties purchased in the final stages of the irrational exuberance may have
been mortgaged with creative lending to some underqualified buyers. Some of
these have been resolved through default, while others have been refinanced or
had loan modifications.
As we
look back on the Irrational Exuberance of house price values, we see the only property still technically
underwater was purchased approaching the 2007 peak after 3Q2004 (186.33), before 1Q2011 (181.66) and the 2012 low. Some of these transactions involved
"creative, no documentation financing" with multiple loan instruments
and ARMs. A wise home buyer recognizes the fixed cost of housing, then seeks to
leverage this cost to their unique life/work situation using fixed rate loan
products.
My YouTube (David Carr Milford New Haven CT Real
Estate Expert) information sources are retrieved from public databases
referenced on each slide. While I do not know what the future holds, I believe
that living in Connecticut will be a good value for multiple quality of life
reasons, as well as proximity to New York City, and the deferred appreciation
in comparison to National Indices. Three
of four Connecticut Metros are ranked in the national bottom twenty (224-243) one year appreciation ending 3Q2018, while
only Milford-New Haven has risen from that ranking to 216 in recent months.
This is an interesting situation, considering possible overvaluation in the top
twenty or more markets as presented today, with New Haven- Milford presenting a
5 year appreciation of only 6.06%.
I am
optimistic about the economic opportunity and quality of life directly
supported by Metro North Commuter rail and our Wonderful Shoreline.
Since
1996 am proud to be “ The Foundation of
Your Success in real Estate.” I will continue to be “Here when the time is
right for you to buy, sell, learn or invest”
Copyright©12/17/2018 David Carr.
All Rights Reserved
Greater New Haven Milford Metro CT Third Quarter Real Estate Market Report
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