New-Haven-Hartford-Springfield-commuter-train-coming-soon

CT Rail New Haven Hartford Line Proposed Fares for Rail Service Announced

CT Rail New Haven Hartford Line Proposed Fares Announced

On Monday, October 23, 2017, the Connecticut Department of Transportation (CTDOT)  announced a 35-day comment period on the New Haven to Hartford, Hartford to Springfield Train Line. The CTDOT is providing a variety of ways to submit comments on the proposed fares ($6.25 from New Haven to Springfield with senior/disabled discounts).

Look at the stops along the corridor here.

Both CTrail - Line and Amtrak trains will serve the 6-17 roundtrips along the New Haven-Hartford corridor, and up to seven from Hartford to Springfield. The SAFE Analysis and proposed fares do not apply to Amtrak service on this  81 minute train trip that will travel up to 110 mph.

New Haven continues to gain traction as a regional hub of economic and transportation resources, making now a good time to become and expert in your market.  David Carr, Licensed REALTOR since 1996. The foundation of your success in real estate, here when the time is right for you.

The best financing options may be overlooked......

When you are getting ready to buy a home and deciding what your monthly payment will be, the best financing options may be overlooked in the excitement of touring homes and neighborhoods.

The Connecticut Housing Finance Authority provides some of the most competitive home ownership opportunities in the state for individuals who make less than $89,000 per year and want to buy homes under $281,000. In target cities like New Haven, house prices and incomes go up, as in Fairfield County

As your exclusive Fiduciary Buyer Representative, I will help you understand options that will save you money every day.

Remember, if you spend $4000 extra on origination fees of a thirty year 4% fixed rate mortgage, you will pay around $160 extra interest per year to borrow those higher fees. Multiply that by 10 or twenty years, and you see how much the right decisions are worth.

Saving a half, or a whole percent can change your costs on a $200,000 mortgage $500-$1000 per year, enough to make extra principle prepayments, or have some extra cash on hand for steak and lobsters.

If you skip the lobster and steaks, choosing an extra principle (no extra interest) payment per year, you can pay your 30 year mortgage down in about 23 years. Make two extra principle payments per year and pay off in about 17 years. If you double your principle only payments you can pay off a 30 year mortgage in about 10 years! You have to decide if that cash is best invested paying off this debt, investing in a higher yield investment, or just having more steak and lobster parties.

Since 1996 I have maintained my commitment to helping my clients build wealth with the leveraged power of home ownership, delivering “the Foundation of Your Success in Real Estate” since 1996

Sincerely,

David Carr       Berkshire Hathaway Home Services New England

203-877-2704 Extension 400826                          “On the Green” in Milford Connecticut

CT now ranked 32 in 2016, moving up 7 in national Economic Indexes

10/4/17 (CT) Connecticut ranked 32nd out of the 50 states and the District of Columbia (DC) in the State Economic Indexes (SEI) in 2016, moving up from the 39th position in 2015. In fact, last year's overall economic performance was the best in terms of the ranking in six years. Colorado, once again, ranked first in the nation with the highest index last year (145.3), while Wyoming came in last (102.6). Our state's index of 120.5 was close, but below the nationwide median value of 124.5.

SOURCE
https://www1.ctdol.state.ct.us/lmi/digest/pdfs/cedoct17.pdf

Connecticut real estate remains under valued,  with lower taxes than New York and New Jersey, supported by excellent quality of life factors. Since 1996 REALTOR David Carr, M.A.  has guided buyers and sellers of real property through the course of transaction management, providing patience, active listening,  expertise, perspective, comparable market analysis as a licensed fiduciary agent. Enjoy the less than two hours Metro North ride to Grand Central Station when you move to my shoreline neighborhood.

Buyers may qualify for 105% financing on owner occupied properties up to $676,000 in targeted areas of Connecticut with buyer income up to $153,000, paying as little as 3.25% for a 30 year fixed mortgage.    Now is a good time to call 203-877-2704 ext 400826, or find me online as David Carr Connecticut Real Estate

Connecticut 4th Best State for Teachers to Work

9/27/17 (CT) - Connecticut placed in the top four when WalletHub’s analysts compared the 50 states and the District of Columbia based on 21 key indicators of teacher-friendliness. Our data set ranges from teachers’ income growth potential to pupil-teacher ratio to teacher safety. Read on for our findings, expert insight from a panel of researchers and a full description of our methodology.

Connecticut continues to place high in quality of life rankings, which is why people see the value of living here. Climate, recreation, health, access to so much within 150 miles, and a beautiful shoreline served by Metro North Commuter Rail, placing Grand Central Station less than 2 hours from New Haven.

Learn why you might find value living in the state of steady habits when you team with David Carr, your licensed real estate fiduciary since 1996.  Call 203-877-2704 Extension 800426 to have a conversation, or find me online as David Carr Connecticut Real estate  

#Connecticut 4th Best State for Teachers to Work
#David Carr Realtor Since 1996

Increasing Advertisements for Home Equity Loans

 9/14/17 (CT) Over the past couple months I have noticed an increase in advertisements for Home Equity Loans and refinancing n Southern Connecticut. This may be indicative of increased confidence in appraised property values by lenders and investors.

While one can not say for certain what the future holds, since 2012 the Carr Value Shelf  has maintained a position that the base FHFA-HPI index of 173-178 is a unique indicator of value to Connecticut, locally, and in relation to broader national markets. Connecticut trails the nation in house price value  recovery, and is  rated "undervalued"  in September 2017 by Core Logic (a data analytic company).

Regarding home equity loans, I do not endorse using your real estate equity as a CAM (cash access method).  If you have equity in your home consider investing in property that will provide income and tax advantages over time. The person, family or organization  who operates within their means and invests 10% of their income will be rewarded with future financial security.

People who have debt must invest an additional 10% of their income in debt retirement to avoid the ling term consequences of interest payment servitude. This means a person who makes $60,000 gross, taking home $48,000 after taxes should strongly seek to do  *whatever it takes*  to invest $4800/year in their future, and $4800/year in resolving  debt to assure a secure financial future.

Let me help you by offering this plan for financial independence now, so you can live a better life in five years

Fannie Mae (Conventional Loans) is increasing their max debt to income ratio

8/1/17(CT)  Fannie Mae (Conventional Loans) is increasing their max debt to income ratio from 45% to 50%.   This is actually going to be a huge deal.   For a couple making 80K in total income this would allow $333 in extra monthly debt payments.   That actually translates to about 60K in additional purchasing power for that couple.   And the more a person makes in income the more their purchasing power would increase. 

FHA still goes to approx. 55% in debt ratio but this move will definitely enhance the conventional side including the conventional CHFA program.

Below is a link to an article that explains the change.

http://www.realtor.com/news/real-estate-news/easier-to-get-a-mortgage/

When you are thinking about Southern Connecticut Real Estate, be an expert I your market b emloyin David  Carr as your exclusive fiduciary buyer's agent or marketing partner. Since 1996 I am proud to be the foundation of your success in real estate

Call me at my office 203-877-2704  x 400826 (Direct to my cell)

"On the Green" in Milford CT

Good To Know!

2Q2017 showed another quarter of solid strength in New Haven Milford Metro Connecticut All Transactions HPI rising to 179.57

8-22-2017 (CT) The Greater New Haven Milford Connecticut Metro area continued to maintain stability since 2012 (despite two quarters of correction when the index dropped 0.02 in 3Q2016 and 0.54 in 4Q2016) to post another positive report.

2Q2017 showed another quarter of solid strength in New Haven Milford Metro All Transactions HPI rising to 179.57, a 1.13-point 90-day gain, 2.52 higher than the 2012 creation of the Carr Value Shelf, when the 1Q2012 Value was 177.05.  Connecticut REALTORS reported a statewide increase in median values ending June 2017 following previous months of increased transactions with no price appreciation.

The Carr Value Shelf has been defined since 2014 as the FHFA-HPI range of value between 173 and 178. The Milford New Haven Metro broke out of The Carr Value Shelf lower range once in 1Q2014 for one quarter, and out of the upper range three times, 3Q2016 at 179.1, 4Q2016 at 179.08, and 2Q2017 at 179.57

In 2012, I first identified the beginning of this buyers’ market on my face book pages, yet lacked the statistical credibility to support my observation, which led to the creation of the Carr Value Shelf in 2014. My goal was not be another REALTOR crowing “now is the time to buy” because it would be good for my industry.  My commitment is to identify conditions favorable to people who want to access the leveraged power of real estate ownership, with it’s associated tax and investment advantages.

In a May 22 2017 commentary about “Highest and Lowest Risk US Housing Markets” (by CoreLogic, a data and analytics company), Hartford and New Haven Milford presented the two lowest (0.30% & 3.5% respectively) HPI growth since January 2012. Of the 257 metros both Hartford and New Haven placed in the 35^th (of 100 rank) for flip rankings (93 & 97 respectively). New Haven/Milford ranked better than Hartford and Bridgeport/Stamford/Norwalk in the fraud rankings. The data indicates lower than median risk couple with 11-12% rent growth since 2012. This may be indicator of a more a secure market than other metros in the United States, despite Connecticut’s financial struggles, which seem to be priced into vales at this time. When we look at house prices and taxes in New Jersey, Long island and New York City, property in Connecticut is a comparable regional bargain.

Other indicators of undervaluation can be found in the FHFA Metro Area House Price All Transaction Residential Indexes, New Haven Milford was rated in the bottom 7% for overall appreciation (240 of 257) ending 2017Q1. For only 2017Q1, New Haven-Milford lost 0.47 point to place 201 of 257. One-year appreciation for the area was +0.68, very close to the five years, 0.60-point increase since 2012, indicating a possible shelf of value comparable to 1991-1997, Since 1991 the index has increased 58.71.    

Homeownership was never supposed to be a cash out vehicle. Home ownership is protected on many levels, as long as the owners don’t agree to liens. A person buying in 1997 would have seen their estate appreciate almost 100% through 2017 if they did not assume cash out encumberences. Home ownership (not mortgages) free people from rent payments, allows their cost of living to go down or be stabilized, provides tax benefits, and can provide for end of life financial and life place security

My comparable observation is that stability over the past 5 years is a positive economic indicator for the region.  Inventory of property sold in this period has maintained a base value despite statewide economic issues caused be years of debt loading by state government which began in the early 1990’s. This financial situation now appears to be fully disclosed and priced into values, leaving Connecticut a better life place choice than New York or New Jersey, with regional rail and quality of life assets that will support further growth of real estate values over time. Evolution in workplace structure allows more people to consider a two hour rail commute an acceptable choice when supplemented with wireless technologies for productivity or entertainment.  Changes in climate have created new opportunities for grape and hop cultivation.  New York and New Jersey real estate values and tax burdens make my Greater New Haven – Milford shoreline market a comparable bargain, and may suggest that Eastern Connecticut will be the New Hamptons.

Since 1996 I, David Carr, have established licensed fiduciary relationships with buyers and sellers of real property in Connecticut. My goal is to provide exceptional needs assessment, value identification, transparent transaction management, and comparable market analysis. My experience, care for my clients, and team at Berkshire Hathaway Home Services New England (“On the Green” in Milford, CT.) add value to the quality of service I provide. For more information to schedule an appointment call 203-877-2704 x400826. You may find me online at ahomeforme.com.

All-Transactions Indexes (Estimated using Sales Prices and Appraisal Data) Aug 22, 2017

"New Haven-Milford, CT"        35300   2012    1       177.05  -1.18

"New Haven-Milford, CT"        35300   2012    2       174.8   -1.18

"New Haven-Milford, CT"        35300   2012    3       174.89  -1.17

"New Haven-Milford, CT"        35300   2012    4       175.25  -1.17

"New Haven-Milford, CT"        35300   2013    1       175.21  -1.19

"New Haven-Milford, CT"        35300   2013    2       174.89  -1.19

"New Haven-Milford, CT"        35300   2013    3       174.82  -1.23

"New Haven-Milford, CT"        35300   2013    4       173.39  -1.31

"New Haven-Milford, CT"        35300   2014    1       171.92  -1.35

"New Haven-Milford, CT"        35300   2014    2       172.38  -1.31

"New Haven-Milford, CT"        35300   2014    3       173.07  -1.29

"New Haven-Milford, CT"        35300   2014    4       173.83  -1.29

"New Haven-Milford, CT"        35300   2015    1       176.37  -1.32

"New Haven-Milford, CT"        35300   2015    2       176.73  -1.34

"New Haven-Milford, CT"        35300   2015    3       176.03  -1.36

"New Haven-Milford, CT"        35300   2015    4       176.91  -1.41

"New Haven-Milford, CT"        35300   2016    1       176.29  -1.43

"New Haven-Milford, CT"        35300   2016    2       178.04  -1.4

"New Haven-Milford, CT"        35300   2016    3       179.1   -1.35

"New Haven-Milford, CT"        35300   2016    4       179.08  -1.39

"New Haven-Milford, CT"        35300   2017    1       178.44  -1.6

"New Haven-Milford, CT"        35300   2017    2       179.57  -1.58