CT Property Network

09/16/2022

Mark your calendar for a fun-filled evening of drinks, food and trivia for a good cause!

Walk to End Alzheimers $25 Donation

Please join Deirdre and Team Just Like Home:

Wednesday, September 21, 2022 at 6:00PM
314 Beer Garden
314 Wilson Avenue, Norwalk

Drinks & Food at 6PM
Trivia 7-9PM

We hope to see you there!

PLEASE RSVP USING LINK BELOW SO WE HAVE AN ACCURATE HEADCOUNT!

September 21, 2022 @ 6:00 PM - 314 Wilson Ave, Norwalk, CT 06854, USA

08/30/2022

Welcome To The Real Estate Underground Show #30! As a managing member of Just Like Home LLC, Deirdre is passionate about providing a better option for seniors living in her Fairfield County community. She provides a premiere boutique one-level Dementia specific, purpose-built residential senior care...

08/19/2022

Tips to Find -Market

You’re writing your own destiny so be proactive. Once you find a property, go ahead and search for their details in public records – owner name and contact details. If they aren’t interested at first, don’t give up. Ask them if you can follow up with them bi-monthly. Approach owners directly. Build your network and try to convince people to partner with you – start with your inner circle.

Do’s:
• Get In Touch With a .
• Don’t Underestimate .
• Sound like a professional when interacting with potential .
• Create a proper deal flow.
• Leave No Stone Unturned: aren’t just going to fall into your bucket, just like that.
Mistakes to Avoid:
• Buying in the wrong area.
• Not analyzing a deal and overpaying.
• Choosing a deal that doesn’t have enough cash flow.
• Delaying the money-raising process.
• Not having enough cash reserves.
• Not knowing your lender’s underwriting requirements upfront.

Although the demand and competition in multifamily real estate are increasing, there are still deals to be unlocked. You can either approach brokers or get creative.

For more real estate related blogs, visit www.ctpropertynetwork.comT

06/15/2022

Essential for New

After months of hunting, you finally found the home that works for your budget and needs. Congrats! For many, becoming a homeowner is the equivalent of achieving the American Dream. It’s also one of the largest financial investments anyone will ever make. For this reason, it’s especially important for new homeowners to start off on the right foot. From finding a reliable to understanding your property , here are some essential tips to make your first homeownership experience a success.

1) Find a reliable handy man.
One of the best things you can do for yourself (and for your house) is to find a reliable and trustworthy handyman to help with home projects. A good handyman should be a “jack of all trades,” who is able to help with a number of home service needs. From hanging artwork to installing light fixtures, you’ll need someone to assist with various tasks once you move in.

2) Get to know your
Meeting your next-door neighbors is one of the most important things you can do once you move in. After all, you never know when you’ll need a good neighbor to grab the mail or water the plants when you’re out of town. Establishing good rapport with neighbors also goes a long way in making your day-to-day living situation more enjoyable.

3) Take your time with projects
Want to make changes to the home? We recommend taking it one project at a time as opposed to carrying out a massive renovation all at once. This way, you’ll be able to save money and pay for projects as you go. It also helps to first live in the house to see what it is you really need and want to change. That way, you’ll be able to better prioritize renovation projects.

4) Keep all home warranties and manuals in a safe place
As a new homeowner, you’re going to inherit a number of appliance manuals and warranties (that is – if they’re still under warranty). Make sure to keep all of these in an organized folder, so you’ll be able to find them whenever necessary. In addition, you’ll need to pass on any new and existing warranty information and manuals to the new homeowners, if and when you sell the house.

5) Change the locks before you move in
Don’t wait to change the locks. We recommend hiring a locksmith, changing the locks and getting new keys before you move into the home. After all, there’s no telling who has a key to the home. Former homeowners could have given out keys to babysitters, service professionals, friends and neighbors. Just to be safe, go ahead and change the locks before moving your precious belongings inside.

6) Replace air filters regularly
Breathing dirty air isn’t healthy for you or your family. If the home was sitting on the market without owners living inside, then chances are good that those air filters haven’t been changed in a while. Dirt and dust accumulate in the filters over time, making your HVAC system less efficient overall. Fortunately, you should be able to find replacement filters at your local hardware store.

7) Paint the house before you move in
There’s nothing more inconvenient than having to paint a home while you’re living inside. Not only will the house be swarming with professional painters throughout the day, but you’ll also have to smell and breath in those less than pleasant paint fumes. To avoid this inconvenience, go ahead and schedule the painters to repaint the walls before the move takes place.

8.) Maintain an emergency fund for unexpected home problems
As a new homeowner, you should be prepared to deal with unexpected (and expensive) problems that might arise with the home. These problems could include your AC system dying, plumbing problems, mold problems, pest problems and structural issues. Unfortunately, fixing these problems is typically costly. It’s helpful to have a safety net – or emergency fund – set up to pay for these type of home problems.

9) Focus on improvements that will give you the most bang for your buck
Looking to renovate the home? In addition to taking your time with home projects, it’s also a good idea to focus on improvements that will give you the most return on your investment. Examples of projects that typically yield a good return include an updated kitchen, a neutral paint job, an outdoor deck and a bathroom remodel.

10) Choose your homeowners insurance provider carefully
Finding a good homeowners insurance policy is one of the most important things you can do when you own a home. This type of coverage should provide financial protection from structural damage due to natural disasters (think: a fire or tornado). In addition, having good homeowners insurance will provide you with much-needed peace of mind.

11) Do a deep clean of the home prior to moving in
It’s unlikely that the former owners had their home professionally cleaned prior to moving out. From scrubbing toilets and disinfecting bathroom surfaces to cleaning the sink and mopping the floors, there are a number of things should be cleaned before moving your furniture and belongings inside. To ensure that you start things out on the right foot (and with a clean slate), we highly recommend giving the home a deep clean prior to moving in.

12) Take advantage of the benefits
Believe it or not, there are number of tax breaks and financial benefits that go along with owning a home. One major tax benefit of homeownership is the mortgage interest deduction, which allows you to reduce your taxable income by the amount of money you’ve paid in mortgage interest during the year.

13) Perform a home energy audit
Upon moving into your new home, we recommend scheduling an energy audit as soon as possible. Offered by many utility companies, these audits assess the energy efficiency of the home. After a full assessment has been completed, the utility company will provide you with valuable advice for improving the home’s overall efficiency. Of course, it doesn’t take much to properly energy-proof your home.

14) Plant shade trees
Speaking of energy efficiency, one of the best ways to save money on cooling bills (and improve your landscaping at the same time) is to plant shade trees along the exterior of your home. These shade trees will reduce the amount of sunlight that enters your home, keeping it cooler during the summer months. Adding trees will also improve the air quality surrounding your house.

15) Be prepared to pay property taxes
Don’t forget to factor in the cost of property taxes when purchasing a home. Your property taxes will be determined by your county’s tax rates and the assessed value of your home. When creating an annual budget, it’s very important that you factor in these property taxes, so you don’t end up with a bill you can’t pay.

Visit www.ctpropertynetwork.com for more real estate related blog posts!

05/17/2022

Simple Tips Every Should Know

Putting into action a few simple home staging tips will help your house stand out from the pack in today's .

Set the Stage
Home staging may not seem hugely important, but in today's improving real estate market, the tiniest detail could mean the difference between " " and " ."

Make a good first impression
You may have spent hours making sure the kitchen is clean, and doing so is worth the effort. But remember, the facade is the first part of your house a potential buyer will see. A little landscaping can go a long way. Strapped for time? Potted plants placed around the front door will add welcome charm to your entryway.

Get rid of the pics
You want to enable potential buyers to easily imagine themselves living in your place—so don't compromise the fantasy with pictures from your aunt's 90th birthday party. Instead, help other people connect with the house by disconnecting yourself from it. If you have frames hanging on the wall that you aren't ready to take down yet, consider swapping in scenic landscape prints or photos of landmarks.

Update the Furniture
Think about switching around the furniture in some rooms. Your preferred setup may not be the most appealing one to would-be buyers. Where logical, opt for a social layout that makes it easy to envision the space being enjoyed among family and friends.

Go Neutral
If you're willing to pick up a paintbrush, tone down any bold color choices in favor of neutral colors schemes that will make the rooms in your house more palatable for all potential buyers, no matter their personal style preferences.

Spruce Up the Kitchen
The kitchen can make or break a buyer's overall opinion of your home. You don’t have to invest in a full on renovation, but a few simple (and affordable) changes can improve the space, like swapping the hardware or covering old floors with a runner. You want the kitchen to feel bright and spacious, so get rid of gadgets on the countertops and magnets on the fridge. Make sure the counters, floors, grout lines, and appliances are sparkling clean, and try to avoid cooking meals that have strong smells when you have showings. The only thing left out should be a nice bowl of fruit or fresh-cut flowers.

Tidy the Bathroom
The bathroom is another room you want to pay attention to when readying your house. Buyers don’t typically spend too long exploring this spot like other areas in the house—they’ll either immediately notice the good or the bad. Cleanliness is the most important factors. Get rid of the mildew, mold, and soap scum, and don’t forget to clean the toilet! Replace shower curtains and bathmats that have seen better days. Lastly, arrange your toiletries in neat baskets or jars to keep the counters clear and organized.

Declutter
Stow everything not essential to your daily life: Remove appliances from counters, clear magazines from table tops, and take your boots out of the mudroom. A house on the market should appear ready for a new occupant.

Don't Hide It
As you're clearing away the clutter, keep in mind that buyers visiting your home may look in every corner of every room. So don't try hiding all your stuff in one closet! Your stash is sure to be discovered, and you don't want to leave potential buyers thinking closets are small or that the house lacks storage.

Fresh Air
Open a window. Doesn't your home feel more homey and inviting already? Opening windows at least ten minutes prior to showings will ensure that your space smells fresh and doesn't feel stuffy.

Scrub-a-dub-dub
It cannot be stressed enough how important cleaning is in home staging. Scrub grout lines in the shower, wipe your window blinds, and wash the concrete floor in your garage. Let no detail go unnoticed! Clean everything.

Remember the Backyard
Depending on the time of year, buyers might spend more or less time checking out the backyard space. During the cold months, house hunters won’t expect outdoor furniture all set up, but you should make sure to clear fallen leaves or snow from the patio or deck so they can still see the potential. If it is pleasant weather, make sure the space has been cleaned and arrange some chairs and tables to amp up the entertainment value. And of course, get rid of weeds and keep the lawn trimmed.

Final Touch
To make your house irresistible, remember to add a few thoughtful final touches. A bright tablecloth or a vase of fresh-cut flowers can really perk up a room, making your house as welcoming—and worthy of sale—as possible.

Appearances Matter!
Staging can make or break a house sale. You can get it right!

Visit www.ctpropertynetwork.com for more real estate related blogs!

05/09/2022

101

If you fall behind on several payments, your may begin the foreclosure process, which can lead to months of and emotional stress, and even result in the loss of your home.

If you start falling behind on your payments, or stop making your mortgage payments completely, the bank or lender can foreclose on the and it as a way to make back the funds that were lost.

How does foreclosure work?

When you purchased your , you signed a mortgage contract that specified the amount of money you borrowed, as well as the and the details about your monthly payment.

However, simply living in your home does not mean that you legally own it. If you have a mortgage, the bank or lender technically owns the property until you make your final mortgage payment.

Types of foreclosure

After you have several missed mortgage payments, your lender can start the foreclosure process. There are two main ways your home can be foreclosed on:

A judicial foreclosure, meaning the lender needs to get a court order.

A nonjudicial foreclosure, depending on the state where the property is located.

There are several different types of foreclosures, depending on the state and the terms of your mortgage. Some foreclosures involve legal action and others do not. The types of foreclosures include:

Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise the foreclosure process will proceed.

Power of sale: A power of sale foreclosure is allowed in some states if your mortgage has a power of sale clause in the contract. Once the borrower falls behind on their payments, their mortgage provider is allowed to put the house up for auction. A power of sale foreclosure is considered a non-judicial foreclosure because there is no legal action taken.

Strict foreclosure: Strict foreclosures are less common because they are only allowed in a few states. In this case, the mortgage lender files a lawsuit against the homeowner, and if the borrower does not make up their payments within the court-ordered time period, the home can be seized by the mortgage holder.

How the foreclosure process varies by state

Each state has its own laws pertaining to the process of foreclosure and foreclosure sales. These can govern the borrower’s relief options if already in foreclosure, how to go about posting a Notice of Sale, the sale timeline and other parts of the process.

The foreclosure process in 5 steps

From the time of your first missed mortgage payment to the foreclosure sale of your home, there are several steps in the foreclosure process. These phases can vary by state, but generally follow this timeline.

Step 1: Missed mortgage payments

If your mortgage payment is a few days late, you are probably not at risk of foreclosure. Your lender may have a grace period of up to two weeks for you to make your payment without serious penalties. After the grace period, however, your payment is considered late and you’ll be charged late fees. You might also receive a warning from your lender about a potential foreclosure if you fail to make the payments.

Step 2: Notice of Default

After three to six months of missed mortgage payments, your lender will file a Notice of Default with the local recorder’s office. Your lender will also send one to you via certified mail, and depending on your state, might post the notice on your front door. This notice specifies how much you owe in order to bring your mortgage back into good standing.

A Notice of Default could show up on your credit report and affect your score. This can make it more challenging to obtain other types of credit or refinance your mortgage.

A Notice of Default doesn’t equate to the lender immediately or automatically foreclosing on your home, and it doesn’t mean you don’t have options to prevent the foreclosure from happening. You can put a stop to the preceedings by getting current on your payments.

Step 3: Preforeclosure

Preforeclosure is the time period between the Notice of Default and the auction or sale of your home. During this time, if you can get your hands on the amount specified in the Notice of Default, you’ll be able to stop the foreclosure process from going any further. The exact amount of time you have depends on your state. During preforeclosure, you might also have the option to sell your home and pay back the money owed, in what is called a short sale.

Step 4: Notice of Sale

If you don’t have the money to bring your mortgage into good standing within the allotted time frame, your lender will file a Notice of Sale, and your home will be placed up for auction at a specified time and location.

How the Notice of Sale is published depends on your state. For example, in North Carolina, the notice must be published in a local newspaper and posted on the door of the local courthouse, while in California, it must be posted on the property as well as a public place in the county.

Because the Notice of Sale is public information and has been advertised, several buyers, including investors, might be interested in buying your home. Depending on laws in your state, you might have the ability to exercise right of redemption (meaning you can reclaim your home) up until the foreclosure sale, or even after.

Step 5: Eviction

Following the auction and sale of your home, you’ll generally have a few days to gather your belongings and move to a new residence. If you do not voluntarily move out, law enforcement personnel are legally allowed to remove you and your belongings from the premises.



If you’re struggling to make your mortgage payments, your best bets to avoid foreclosure are time and communication. As soon as you realize you can’t pay your mortgage, reach out to your lender or servicer to learn about the options available to you. They might be able to set up a payment plan or allow you to defer the payment for one month if you have a temporary financial hardship.

For more real estate related blogs visit www.ctpropertynetwork.com

04/28/2022

SHORT SALE vs. FORECLSOURE
The number one reason why we advocate pursuing a short sale vs. a foreclosure, is that a foreclosure will prevent you from obtaining a mortgage for a minimum of five to seven years, in addition to extensive damage to your credit, whereas a short sale will have far less damage to your credit in that most borrowers will be able to obtain a mortgage after two years of conducting a short sale. Also, the deficiency is waived and if it is your primary residence-there will be no tax consequence for the waived deficiency! In the event of foreclosure, the deficiency is collectable, and will be significantly higher than in a short sale (since properties sell at extremely discounted prices at foreclosure auctions).

You, the seller, is in control of the offer you sign and the timing of the sale, much like in a traditional sale. There is no embarrassing foreclosure sign on your front yard. It is much more private an event and to the general public just another sale.

Visit www.ctpropertynetwork.com for more real estate related blogs!

04/22/2022

How much will a Short Sale cost me?

In a , are paid by the from the proceeds of the . The in most cases, does not bring a penny to the closing.

CT Property Network does not charge homeowners to negotiate the short sale. The gets paid at the closing from bank proceeds.

In addition to paying off or on the house, the banks will usually pay:

• Real estate commissions
• Town and state conveyance taxes
• Attorney Fees
• Recording, wire and courier fees
• Back real estate taxes
• Back association fees
• Overdue sewer and water fees
• Payments to second and third lien-holders
• Closing costs requested by the buyer

The lender pays for these costs because these need to get paid to convey clean and clear title to the new buyer and distressed homeowners do not have the funds. It is financially advantageous for the bank to pay these costs then to have the property foreclosed upon.

Most of the time, the short sale is FREE to the homeowner.

Note: by law, the homeowner is not allowed to receive money from a short sale. The banks will have you sign a paper stating that you did not receive anything at closing.

Visit www.ctpropertynetwork.com/blog for more real estate related blogs!

04/08/2022

Why Short Sale ?

A homeowners has an option to "short sale" when their is worth less than what they owe to their bank(s). For example, if your house is worth $400,000 and you owe your (s) $550,000 in , home equity lines of credit, tax liens, etc. If you qualify for a short sale, you may be able to sell your property for less than what is owed, avoid and walk away from the property with no debt. A is a far better alternative to foreclosure, both for you and your bank. It is significantly less damaging to your , and you'll be able to buy a home much sooner after a short sale than with bankruptcy or foreclosure.

For more real estate related blogs visit www.ctpropertynetwork.com

03/18/2022

What is a Short Sale?

A short sale is when your mortgage lender(s) and/or lien-holder(s) agree to discount the loan, accepting less giving you an opportunity to sell your home at current market value. If your home is over-leveraged, underwater, or you are behind on payments and cannot sell your property for what is owed, then you may be eligible for a short sale.

created as a alternative because they actually incur a smaller loss. By accepting less than what is owed on your property allows them to get their non-performing off their books. Your lender(s) are not in the of owning and would rather short sale your house then to on your property. Once a property is foreclosed upon the bank still has to go through the efforts of selling the property.

Visit www.ctpropertynetwork.com/ for more real estate related blog posts!

03/08/2022

Connecticut is expected to get a tsunami of short-sales this year. With all of the new Realtors that have entered the game during this boom, why not have your team prepared? Learn how they can list and get their full commission without having to negotiate the short sales.

We would love to offer you a FREE 15-20 minute short-sale presentation, including Q&A, at your team’s weekly or monthly meeting, virtual or live.

Your team will learn:

· How short sales work
· The lien process
· How to read the judicial site to see if someone's in pre-foreclosure
· The CT foreclosure process
· Timing - who is eligible for a short sale, etc.

CT Property Network has successfully saved more than 1000 families from foreclosure by short-saling their homes and gotten Realtors their full commissions.

As Distressed Property Specialists, and CT Licensed Debt Negotiators, we wrote and teach a Continuing Ed Class in Distressed Properties that includes; REOs, Pre-foreclosures, Online and in-person Auctions, as well as short sales.

Book your slot now at link below:
https://calendly.com/dvirvo/short-sale-class-zoom-meeting?month=2022-01