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        <title>Minna Reid's Blog</title>
        <link>http://www.homesbyminna.com/blog/</link>
        <description>The Blog of Minna Reid, CT Realtor, short sale specialist. All about real estate and short sales in Connecticut from Minna Reid - CT's #1 Short Sale Realtor.</description>
        <item>
            <guid>http://www.homesbyminna.com/blog/east-hartford-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/east-hartford-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>East Hartford, CT Market Report: 2011 in Review</title>
            <description> <![CDATA[ 
2011 proved a stagnant year for home sellers in East Hartford, CT .  398 homes in East Hartford, CT sold through the year at an average sales price of $144,990 – both figures down slightly from 2010.


Should the trend continue, just 9% of current market inventory of 355 homes in East Hartford is expected to sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 294 homes in East Hartford expired unsold – leaving the odds of successfully selling at roughly 60%.


What does that mean to you as an East Hartford, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You have a lot of competition and just a 60% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE.


Short sales and foreclosures in East Hartford CT in 2011: Out of all sold homes in 2011 10% were short sales and 19% were bank owned (foreclosed). 23% of all currently listed homes are short sales, while 10% of homes are bank owned – making distressed a whopping 33% of the current inventory in East Hartford, CT.


What will 2012 hold? Only time will tell.


FIND THE RIGHT EAST HARTFORD, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Tue, 21 Feb 2012 08:56:14 -0600</pubDate>
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            <guid>http://www.homesbyminna.com/blog/durham-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/durham-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Durham, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a year of declines for home sellers in Durham, CT .  49 homes in Durham, CT sold through the year – a 25% decline from 2010. The sales price of $311,253 is also down 5% from 2010.


It will take over a year to sell the current Durham inventory of 79 homes with an absorption rate of just 5% month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 67 homes in Durham expired unsold – leaving the odds of successfully selling at roughly 40%. In fact, although homes that sold in Durham only remained on market for an average of 80 days, homes currently listed  have a DOM (days on market) average of 208 days. The average price of homes currently on market is $363,744…a 15% difference from what homes are actually selling for.  


What does all that mean to you as a Durham, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 40% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE.


Short sales and foreclosures in Durham CT in 2011: Out of all sold homes in 2011 2% were short sales and 8% were bank owned (foreclosed). 5% of all currently listed homes are short sales, while 3% of homes are bank owned – making distressed homes 8% of the current inventory in Durham, CT.


What will 2012 hold? Only time will tell.


FIND THE RIGHT DURHAM, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Tue, 21 Feb 2012 08:06:32 -0600</pubDate>
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            <guid>http://www.homesbyminna.com/blog/cromwell-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/cromwell-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Cromwell, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a stagnant year for home sellers in Cromwell, CT . 159 homes in Cromwell, CT sold through the year at an average sales price of $238,085, which is virtually unchanged from 2010.


Should the trend continue, just 8% of the 158 homes currently on the market in Cromwell will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 117 homes in Cromwell expired unsold – leaving the odds of successfully selling at roughly 60%.


The average price of homes currently on market is $268,332…a 12% difference from what homes are actually selling for. What does that mean to you as a Cromwell, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 60% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE.


Short sales and foreclosures in Cromwell CT in 2011: Out of all sold homes in 2011 3% were short sales and 9% were bank owned (foreclosed). 15% of all currently listed homes are short sales, while 5% of homes are bank owned – making distressed homes 20% of the current inventory in Cromwell, CT.


What will 2012 hold? Only time will tell.


FIND THE RIGHT CROMWELL, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Tue, 21 Feb 2012 07:41:35 -0600</pubDate>
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            <guid>http://www.homesbyminna.com/blog/coventry-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/coventry-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Coventry, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a rough year for home sellers in Coventry, CT . 98 homes in Coventry, CT sold through the year, which is down just slightly from 2010. The average price of homes sold in Coventry in 2011 is $204,419 down over 10% from the prior year.


Should the trend continue, just 6% of the 141 homes currently on the market in Coventry will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 85 homes in Coventry expired unsold – leaving the odds of successfully selling at roughly 50%.


The average price of homes currently on market is $251,514…a whopping 20% difference from what homes are actually selling at. What does that mean to you as a Coventry, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 50% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE. An experienced CT Realtor can guide you through this.


Short sales and foreclosures in Coventry CT in 2011: Out of all sold homes in 2011 8% were short sales and 9% were bank owned (foreclosed). 10% of all currently listed homes are short sales, while 8% of homes are bank owned – making distressed homes 18% of the current inventory in Coventry, CT.


What will 2012 hold? Only time will tell.


FIND THE RIGHT COVENTRY, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Mon, 20 Feb 2012 09:55:43 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.homesbyminna.com/blog/columbia-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/columbia-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Columbia, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a slow year for home sellers in the small town of Columbia, CT . 43 homes in Columbia, CT sold through the year, which is down slightly from 2010. The average price of homes sold in Columbia in 2011 is $243,892.


Should the trend continue, just 7% of the 51 homes currently on the market in Columbia will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 33 homes in Columbia expired unsold – leaving the odds of successfully selling at roughly 57%.


The average price of homes currently on market is $275,085…a 12% difference from what homes are actually selling at. What does that mean to you as a Columbia, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 57% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE. An experienced CT Realtor can guide you through this.


Short sales and foreclosures in Columbia CT in 2011: Out of all sold homes in 2011 7% were short sales and 12% were bank owned (foreclosed). 12% of all currently listed homes are short sales, while 4% of homes are bank owned – making distressed homes 16% of the current inventory in Columbia, CT.


What will 2012 hold? Only time will tell.


FIND THE RIGHT COLUMBIA, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Mon, 20 Feb 2012 09:38:55 -0600</pubDate>
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            <guid>http://www.homesbyminna.com/blog/a-few-suggestions-for-bank-of-america.html</guid>
            <link>http://www.homesbyminna.com/blog/a-few-suggestions-for-bank-of-america.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>A few suggestions for Bank of America</title>
            <description> <![CDATA[ 
I’ve noticed no matter what real estate website I’m on – Bank of America is advertising there…I also cringe everytime I’m in the car and I hear a random story on the radio involving something like “Bank of America pavilion”…or BofA this or that…


Bank of America- since you clearly have the funds to advertise no matter where I look, I think some of that money should be diverted to loss mitigation – specifically your short sale department.


How about:


Customer service reps that have a clue, or if they don’t know, will pass on the call to someone who does instead of giving my clients the runaround?


Paying for real appraisals? You know that BPO’s on listed property in CT are illegal right? I’ve told you several times and perhaps you follow that kind of thing? Like state laws…seems like you should know. Just pay for a real appraisal in a short sale.


Moving FHA and VA to Equator? Why is this a manual process still? Other lenders have moved those to Equator – why can’t you? Why does BofA FHA need to take 6 months for approval still?


Training your people to process HAFA in house? Your outsourced vendors are a joke. Does HAFA need to take 15 months? Really? Why can Nationstar do that in 1 month? (Their people can process HAFA in-house)


Please, BofA…You can advertise all you want for new business…but maybe cleaning up loss mit can save a few bucks too?
 ]]> </description>
            <pubDate>Sun, 19 Feb 2012 17:29:38 -0600</pubDate>
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        <item>
            <guid>http://www.homesbyminna.com/blog/cheshire-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/cheshire-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Cheshire, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a rough year for home sellers in Cheshire, CT . 259 homes in Cheshire, CT sold through the year, which is down roughly 14% from 2010. At the same time the average sales price of homes sold is up by 11% over 2010 at an average of $341,619, so although sold inventory is down overall, homes in a higher price bracket are selling.


Should the trend continue, 12% of the 174 homes currently on the market in Cheshire will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 136 homes in Cheshire expired unsold – leaving the odds of successfully selling at roughly 60%.


The average price of homes currently on market is $389,879…a 12% difference from what homes are actually selling at. What does that mean to you as a Cheshire home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 60% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE. An experienced CT Realtor can guide you through this.


Short sales and foreclosures in Cheshire in 2011: Out of all sold homes in 2011 3% were short sales and 5% were bank owned (foreclosed). 6% of all currently listed homes are short sales, while 7% of homes are bank owned – making distressed homes 13% of the current inventory in Cheshire, CT.


What will 2012 hold? Only time will tell.


FIND AN EXPERIENCED CHESHIRE, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Thu, 16 Feb 2012 08:29:41 -0600</pubDate>
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            <guid>http://www.homesbyminna.com/blog/bolton-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/bolton-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Bolton, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a better year for home sellers in Bolton, CT than many others in the state. 49 homes in Bolton, CT sold through the year. Although that may not sound like a large amount, it is up 40% from 2010. The average sales price in Bolton is also up 15% over 2010 at $275,826.


Should the trend continue, 20% of the 21 homes currently on the market in Bolton will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 25 homes in Bolton expired – leaving the odds of successfully selling at 66%.


What does that mean to you as a Bolton home seller? If you are considering going market, you will have to be very realistic about the value of your home. You only have a 66% shot at selling your home at all. How do you make it happen in this market? By offering the buyers the best value available on the market. An experienced CT realtor can guide you through this.


Short sales and foreclosures in Bolton in 2011: Out of all sold homes in 2011 6% were short sales and 4% were bank owned (foreclosed). 14% of all currently listed homes short sales, while 5% of homes are bank owned – making distressed homes 19% of the current inventory in Bolton, CT. This figure is quite high compared to many CT towns.


What will 2012 hold? Only time will tell.


FIND AN EXPERIENCED BOLTON, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Wed, 15 Feb 2012 16:22:17 -0600</pubDate>
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        <item>
            <guid>http://www.homesbyminna.com/blog/a-ct-fha-short-sale-success-with-bbt.html</guid>
            <link>http://www.homesbyminna.com/blog/a-ct-fha-short-sale-success-with-bbt.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>A CT FHA short sale success with BB&amp;T</title>
            <description> <![CDATA[ 
BB&amp;T – Branch Banking and Trust Company is a rather small lender. This particular loan was an FHA loan, which has its advantages to the short sale seller.


We submitted the short sale packet as the property went on market. It took over two months for BB&amp;T to take real action on the file, which happened to coincide with the time we secured a strong cash buyer for the home.  


To our surprise - the short sale approval arrived just over a week later, and shortly after we closed.


OWED: $200,000


APPROVED AND CLOSED WITH FULL DEBT FORGIVENESS: $83,000


FHA SELLER INCENTIVE: $1,000


TOTAL TIMEFRAME LIST TO CLOSE: 3 MONTHS
 ]]> </description>
            <pubDate>Tue, 14 Feb 2012 08:16:15 -0600</pubDate>
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            <guid>http://www.homesbyminna.com/blog/bloomfield-ct-market-report-2011-in-review.html</guid>
            <link>http://www.homesbyminna.com/blog/bloomfield-ct-market-report-2011-in-review.html</link>
            <author>minnareid@gmail.com (Minna Reid)</author>
            <title>Bloomfield, CT Market Report: 2011 In Review</title>
            <description> <![CDATA[ 
2011 was a tough year for home sellers in Bloomfield, CT. 167 Homes in Bloomfield, CT sold through the year – down 22% from 2010. Should the status quo remain, just 8% of the 177 homes currently on the market in Bloomfield will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011,137 homes in Bloomfield expired – leaving the odds of successfully selling at just 55%.


Pricing on listed and sold homes differs by 10%. The average listing price of all homes on market in Bloomfield is currently $239,752, while the average price of all homes sold in the last year is only $217,007. Overpricing is likely the reason 45% of home sellers in Bloomfield fail to sell their homes.


What does that mean to you as a Bloomfield home seller? If you are considering going market, you will have to be very realistic about the value of your home. You only have a 55% shot at selling your home at all. How do you make it happen in this market? By offering the buyers the best value available on the market. An experienced CT realtor can guide you through this.


Short sales and foreclosures in Bloomfield in 2011: Out of all sold homes in 2011, 11% were short sales and 14% were bank owned (foreclosed). Out of listed market inventory 16% of all homes on market are short sales, while 5% of homes are bank owned – making distressed homes 21% of the current inventory in Bloomfield, CT. This figure is quite high compared to most CT towns.


What will 2012 hold? Only time will tell.


FIND AN EXPERIENCED BLOOMFIELD, CONNECTICUT REALTOR.
 ]]> </description>
            <pubDate>Mon, 13 Feb 2012 09:17:02 -0600</pubDate>
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