REALTORS¬ģ at the Capitol Will Be Held on Monday, May 2
Your participation will help show the legislators that REALTORS¬ģ are engaged in the legislative process and we vote. The event will begin at 11:30 am with lunch and the issues briefing at The Bushnell following by meetings with legislators at the LOB/Capitol from 1:00-2:00 pm. ¬†For more information and to register to attend, visit www.ctrealtors.com/rac.
March Shows Rise in Single-Family Home Sales
Connecticut REALTORS is providing monthly home sales and townhouse/condominium sales statistics to the media. Here is the March 2016 release.
Click here for the¬†press release.
Click here for a larger view of the infographic.
2015 Profile of Home Buyers and Sellers in Connecticut
Each year, CTR commissions the National Association of REALTORS to include an oversample of Connecticut to compare the profile of buyers and sellers in Connecticut with National statistics. The 2015 Report has been released and is available for you to read or download (ctrealtors.com username and password required).¬†A few notable statistics:¬†In CT, 44% of buyers in 2015 were first-time buyers compared with 32% nationally. Buyers of new homes in CT was 4% compared with 16% nationally.¬†In Connecticut, there was a median of 10 miles between the homes that recent buyers purchased in 2015 and the homes that they moved from.¬†Nationally, that distance is 14 miles.¬†You can read many more statistics and view various charts in the Report.
Discount Online CE Packages - Save up to $65
Brokers must renew their license by March 31, 2016 and Salespeople must renew by May 31, 2016.¬† Fulfill your education requirements anywhere, at your convenience, and at your own pace. For a list of course topics and packages¬†click here.
Get to Know CTR's 2016 President Michael Feldman
2016 Connecticut REALTORS¬ģ President Mike Feldman was licensed in 1980 in New York and 1985 in Connecticut. He is a REALTOR¬ģ and Associate Broker with William Raveis Real Estate in Stamford, a member of the Stamford Board of REALTORS¬ģ and lives in Stamford with wife Debbie, who is a psychiatric nurse.¬† We asked Mike a few questions:
1) Why did you start in real estate? My dad had his own real estate company and he wanted me to go to a large company, be trained and go from there. I only received two job offers coming out of Syracuse University: an appraiser position and a real estate sales position. I chose sales.
2) What was your first real estate sale? On my first day in real estate, Tuesday, July 1, 1980, I had a walk-in who bought a single family home with an attached beauty salon in Syracuse. Took 6 months to close and I made $1800. I thought this business would be easy. ¬†Read more...
NAR Dues-Based Member Benefit - Ziplogix
Connecticut REALTOR¬ģ members are now able to get CTR forms at no cost through the zipForm easy-to-use software, as a NAR dues-based benefit. This option now replaces the PDF and fillable forms formerly on our website. Click here to read our FAQ and get started.
CTR Partners With Two CT Aquariums
CT REALTORS¬ģ is excited to announce our partnership with Connecticut's two Aquariums. Meet Clara and Ripley, two sea lions rescued from California and brought to their new home at the Mystic Aquarium, because finding wonderful homes is what Connecticut REALTORS¬ģ do. CTR is also sponsoring the "Adopt a Seal" program at the Maritime Aquarium. Visit this page to view¬†our video, press announcement and more..¬†
Info and Advisory on Concrete Foundations
Here you can find the electronic and¬†print versions of CTR‚Äôs Foundations Advisory issued on 11/20/15.
The Connecticut Department of Consumer Protection (DCP) issued a press release updating the public on the status of the State's¬†scientific and other research to determine the scope and extent of a problem with reported crumbling concrete foundations. The release includes, "In furtherance of that investigation, the agencies have now entered into an agreement with a concrete expert from the University of Connecticut to conduct a scientific investigation into the cause of the reported crumbling foundations. That investigation is expected to yield preliminary conclusions in the Spring of 2016. It is anticipated that the expert will evaluate a sampling of testing results, as well as a variety of other information."
Reminder About Foundations Disclosures:
The Sellers Residential Property Condition Disclosure Report¬†(available in our forms library through Ziplogix) includes extensive sections for sellers to disclose known material defects or problems with many aspects of their property, including Foundation issues which are inclusive of cracks.
NFTP Video Highlights Recent Changes
FEMA's National Flood Insurance Program (NFIP) has a new video that "covers important NFIP changes including new Non-Residential categories, new guidance for determining a Primary Residence, revised rate tables for certain Post-FIRM buildings, and revised ICC rates. You'll also learn about modifications to the underwriting forms, Floodproofing Certificate, and the endorsement and cancellation refund rules. And finally, something that is not part of the November 1 program changes but also coming soon: a new FEMA Elevation Certificate incorporating a new building diagram." To view, click here.
Their¬†site also includes important legislative bulletins and other instructional videos to assist in understanding flood insurance and NFIP.
Recent Changes to Federal Lending Regulations
The recent changes to Federal lending regulations (called TRID or "Know Before You Owe") took effect on October 3, 2015 and are expected to have a significant effect on closing procedures when purchasing a home.¬†Click here for a document that briefly explains the relevant information to help complete a smoother transaction.¬†
CTR Launches "Experts" Campaign - Materials for REALTORS
The Connecticut REALTORS¬ģ¬†statewide marketing awareness campaign has kicked off with radio spots, billboards, and placements in malls, and more. Consumers are directed to this landing page to test their real estate vocabulary and find a CT REALTOR: www.ctrealtors.com/experts.
Connecticut REALTORS are encouraged to visit our marketing page which includes campaign materials available for download and sharing on social media.
Residential Property Condition Disclosure Report Form - UPDATED
As of¬†Tuesday, April 21, 2015, DCP posted on their site definitive guidance as to when use of the revised Residential Property Condition Disclosure Report is required. Any listings that were not under contract as of the date of the revised form (March 23, 2015) sellers need to complete the¬†revised form.¬†There is recognition by DCP that¬†this¬†conflicts with other communications received and delivered¬†around the time the updated form was released. This form is¬†available in our forms library through Ziplogix.
Foreclosure by Market Sale FAQ
Effective January 1, 2015 a new law went into effect providing an additional method of foreclosure which will support the real estate market by selling residential properties in a pending foreclosure at market prices, including the ability to market in the MLS.¬† Foreclosures by Market Sale are overseen and then approved by the Court in order to close the sale while the property is in foreclosure. Please check out the FAQ for more complete information on the process. Also note that as this is a new concept, as more experience is developed with the actual process this information is likely going to expand or change. CTR continues to appreciate all the hard work of our members that went into making this legislation a reality.
Updated Flood Site Now Available
CTR has updated our site on flood issues to give you and the public information about flood insurance, preparedness, plus¬†national and state¬†resources related to flood issues.¬† You are welcome to include the CTR logo on your company and/or agent sites and to link directly to that page. www.ctrealtor.com/flood
Important Carbon Monoxide Detector News
The threat of Carbon Monoxide is real and as of January 1, 2014, Sellers of 1-2 family homes built prior to October 1, 2005 are required to furnish their purchasers with an affidavit that the property has working smoke and carbon monoxide detectors or to provide a credit. CTR has set up a page to provide information on the law and the changes here. You can download the revised affidavit (effective July 1, 2014).