Century 21 Classic Homes

10/08/2016

10/08/2016

Just Sold....For information on this and other properties, contact Michele Sifakis.....Century 21 Classic Homes....860-214-7680.
Find me on Facebook

09/03/2016

Just Sold ....0 Enfield Street....Enfield, CT
Sales Price 217,500.00. For more information on this and other properties contact me on Facebook.
Michele Sifakis, Century 21 Classic Homes...Glastonbury CT

03/27/2016

So far 2016 has been an awesome year in real estate. There are a lot of investors out there looking either for multi family properties, flips,wholesaling of contracts as well as a steady increase of home prices and sales. Gas prices remain at an all time low and as long as jobs are being created the market should fare well over the next few years as a lot of this depends upon who holds public office next. Whether it be a Democrat or Republican or an Independent with any luck they'll have more conservative view points on fiscal spending, creating jobs here, not shipping jobs and business overseas as we need to stimulate our own economy. And the security of our nation against another terrorist attack is paramount for many reasons primarily for the sake of human life as its sacred but also these terrorist attacks destroy the economy but that is secondary as you can't put a price tag on human life! Enjoy your day everyone! Ttys!
Michele

02/05/2014

So what's in store for the real estate market for 2014? Over the past several months there has been a pick up in sales activity. Dependent upon the county, prices generally have been rising. More in some towns and counties than others but we are seeing property prices rise. Sales volumes are up from last year and expect this trend to continue as housing still remains affordable, coupled with extremely low interest rates. Rates are looming around 4% depending upon credit.
There continues to be a demand for investment properties by investors throughout Hartford County. Investors are seeking anything from multi-family housing to flip properties to strip plazas. With respect to strip plazas, there is a high demand yet low supply. But eventually that should change if the economy and rising prices continue to improve. The commercial vacancy rate is very high at this point and time due to business failures business owners looking for cheaper rents. And again, that is expected to change as new businesses emerge. In addition, in my opinion, many owners are asking too much for rent. What used to be worth $18.00 per square foot is less than that. I advise my clients to be market competitive and give incentives to fill the vacancies. Better some tenant than no tenant. And escalation clauses allow the owner to raise the rent on a yearly basis if they choose to do so. In my opinion, if you have a good tenant and you're producing a sufficient income, I wouldn't advise an annual increase in rent. Perhaps every couple of years or so. The idea is to keep the tenant, not lose it to someone else. :)

12/04/2013

If you're thinking about purchasing an investment property for the first time, contact me. I'm very good at determining net income in relation to the value of the property. It's how you determine what's called a capitalization rate, which basically is like a dividend yield in terms of how much income the property will throw off. Capitalization rates are typically used in large commercial properties. You can use the same methodology in small multi-families consisting of 4 or less units. So in these types of properties, you don't really need to determine a cap rate. Its a more of a matter of determining the income after expenses and by determining if the price for that property is worth it incomparison to the income. The other way people look at it is that they're not to much concerned about how high the income is. They're looking for the potential of capital appreciation over time. And of course having at least a decent income stream. It all depends on what kind of investor you are. I've seen some properties that are so overpriced its ridiculous. But the other way of looking at it is to see what similar properties have sold for in the past (let's say going back 5 to 7 years) and not that it's a guarantee, but that at some point, those values will return.

12/04/2013

If you're looking to expand your business and if you're on Linked In, use what's meant for. To make connections and reach out to those connections that could help drive your business. Or post things about yourself, what you just accomplished etc. I've received a few pieces of potential business on Linked In.

11/09/2013

I'm now in the process of extending business into new york. Should be exciting. different market but different economy and lower taxes.

10/19/2013

I am collecting donations for the Connecticut Children's Medical Center. My goal is to deliver the donations by December 15th. Donations can be anywhere from $5.00 to $100.00. For info, see my page on FB. Thank you.

09/25/2013

To all my clients and friends. Starting tomorrow, Prudential Connecticut Realty will now be Berkshire Hathaway Properties. This is a great change and today we're having a launch party. For those of you who aren't familiar with this, Warren Buffet purchased the company. Mr. Buffet is a value investor, and I share his philosophies on investment strategy. So this change will be positive and our branding will be outstanding and market competitive.

09/03/2013

If you’re interested in or entertaining the thought of purchasing an investment property, feel free to contact me at (860) 214-7680. There is an exceptionally high rental demand and very low rental inventory. With the right investment property, either it being a single family or multi-family dwelling, two objectives are created. One is the building of equity that appreciates over the long term. The second is the collection of income these properties produce.
I’m currently working with several clients in the Connecticut and New York area whose objectives are just that. Creating equity, which is the creation of wealth, and the collection of income. There are several methods of financing used in obtaining these properties. Either it be through a conventional mortgage, where income is taken into consideration to obtain the loan. A line of credit, the formation of partnerships, and whenever available, cash. There may even be other methods of purchasing that you can discuss with a financial planner or reputable mortgage broker.
If you would like to discuss more as to how to purchase these properties, you can contact me at no cost or obligation. I’d be happy to speak with you and answer any questions you may have.