Minna Reid - Reid Real Estate Group - Blog

Foreclosures start to creep back into the Connecticut real estate market…

foreclosures in ct

In March 2020 as part of the CARES ACT a moratorium on foreclosures on all federally backed loans in the USA due to the covid-19 pandemic. The moratorium was subsequently extended multiple times until its final expiration 17 months later in July 2021.  August 2021 marked the return of most foreclosures.  the CT foreclosure market […]

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Connecticut housing starts of 2022 with another solid sellers market!

JANUARY 2022 real estate report

January 2022 Connecticut Market Conditions:The last few years have been a huge win for sellers in Connecticut, and 2022 is starting off with more of the same! January Home Sale Prices:Prices YTD rose 5% over 2021.The median home sale price rose 5% year over year to $300,000 in 2022. January New Listings:New listing inventory is […]

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January 31, 2022

Stratford CT FHA short sale success!

startford short sale

Out of money and out of  time!After years of struggling to keep up with his mortgage payments unsuccessfully, this Stratford homeowner decided it as time to cut his losses and attempt to avoid his upcoming foreclosure by pursuing a short sale.  Challenges:Although FHA loans have very predictable, clean  short sale process (FHA PFS), Freedom Mortgage can […]

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TROUBLE AHEAD FOR THE CT MULTIFAMILY MARKET!

ct market collapse

What goes up must come down! All Connecticut sellers have had a few years to enjoy strong price growth and buyer competition, including multifamily sellers, but what’s up ahead?Sellers of multifamily properties have seen their median sale prices at record highs approaching $300,000! Homes are also selling faster than ever, at a median marketing time […]

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