Connecticut Real Estate

I was just checking the end of year stats on the REO (bank owned/foreclosed) and Short Sale market.

It is quite sad to see that only 16% of short sales listed in 2009 where closed. The remaining listings have gone unsold, and presumably the homeowners are now either much closer to the foreclosure clock running out, or in many cases it already has run out.

This is in sharp contrast to the 41% of REO listings that closed in 2009.

CDPEs are closing 80% of their short sales (source: Distressed Property Institute). This is partly due to the intensive initial training and 3x monthly training updates, and partly due to the incredible network of caring, giving and sharing CDPEs who are always willing to help homeowners in trouble. 

If you or someone you know is behind on their mortgage, facing foreclosure, lost a job, or for some other reason just needs to know their options, the person you select to help you had better be up to speed not only on what your options are, but how best to guide you through the process to a successful completion of either your loan modification or short sale.

Need more info, call me or check out my FREE reports for Distressed Homeowners at: www.ForeclosureFreeWorld.com

John Queenan, CDPE

Interesting article on CNN, we are approaching 1 in 4 Mortgages Underwater, and another 5% are within 5% of being underwater.

According to MBAA, of the 650,000 trial loan modifications since the program went into effect, only 1700 have been converted into permanent modifications. This represents a huge failure on the part of the government run program.

Currently over 10% of loans are in distressed on a national basis, and over 42% of all subprime loans are currently in default.

If you or someone you know needs help figuring out what to do next, visit our informational site at www.ForeclosureFreeWorld.com

Several times this past two weeks I've heard from clients who closed after November 6, 2009 asking "How Do I Get The First Time Homebuyer's Tax Credit?" and looking for the new form.

The problem right now is that the IRS has yet to release the new form 5405 for 2009 and 2010 tax filings, which is required to get either the $8,000 First Time Homebuyers Tax Credit or the $6,500 Move Up Buyer's Tax Credit.

I will post it here as soon as it is available, in the meantime, if you closed on or before November 6, 2009, and you believe you qualify for the tax credit, you can use the existing Form 5405 which can be found here: http://www.irs.gov/pub/irs-pdf/f5405.pdf

If you want to get a look at the current DRAFT version of the new form, which you CANNOT USE but will at least be able to see what is involved in filling it out, go here: http://www.irs.gov/pub/irs-dft/f5405--dft.pdf

Easton's commitment to maintaining its original beauty is truly remarkable. A vigorous and steadfast campaign by its residents has prevented any commercial development and has successfully preserved its rural character and ambience. The result is a completely private and tranquil setting, rich in nature and country charm. A warm and inviting gereral store with a gas pump, fruit orchards, tree farms and dairy farms are the only business found in town.

Most any Saturday or Sunday in December you will find families cutting their own Christmas trees at one of several tree farms. During October, the Pumpkin Festivals and "Haunted" Corn Fields are the big attraction.

The town began as a settlement of a few farms during the 18th Century, as Fairfield's growing population spread inland. Easton was incorporated as a separate town in 1845. It has an excellent school system, with elementary and middle school under a local board, and a high school under regional authority and shared with the town of Redding.

Easton has numerous reservoirs surrounded by hundreds of acres of well forested protected watershed property. The homes are set on spacious one and three acre plus parcels surrounded by woodlands and meadows.

Easton is only ten minutes from Bridgeport and Norwalk, and is adjacent to Fairfield's northern border and close to all major highways.

For a sneak peak at some beautiful new homes to be built in an exquisite private setting in lower Easton, go to www.newconstructioneaston.com

Dear Friend,

Here’s a quick note to let you know how I can help you or anyone you feel comfortable introducing me to.

There are a lot of homes for sale today, and a lot of those homes are sitting unsold. There are many reasons why a home goes unsold, but what many sellers don’t realize is how many things they can do to contribute to the sale process. If a seller thinks their role is to simply sign a listing agreement and start packing — they probably have one of those unsold homes!

The next time you’re in a conversation with a friend, family member or neighbor who’s thinking about selling their home, would you stop, take out your cell phone, look up my number (203-638-7878) and call me immediately? I’ll give you a certificate you can pass long for a free subscription to my monthly Top Dollar Newsletter, full of tips on what people can do now to help their home sell sooner rather than later. Your friend will thank you for it!

Best, John

P.S. My newsletter is also great for people who may not be selling for six months to a year.

Looking for a Dignified Solution to the Financial Crisis?

If you or someone you know if facing financial distress, understant that there are options available to you.

Contraty to popular belief, lenders want to avoid foreclosure whenever possible. Two options you may have heard of are a short sale and deed-in-lieu of foreclosure, but choosing the right solution is an important decision.

To help people understand their options, I've created a free report with more information about these two solutions at:

http://foreclosurefreeworld.com

Let me help you toward a solution. It's time...

==================