Retirement in Connecticut is often seen as an expensive choice for many. With high tax burdens, including taxable pension income, coupled with expensive property taxes and general cost of living expenses, many people choose to move out, come retirement time. Florida is the stereotypical destination, but North Carolina and other states are certainly up-and-comers as … Continue reading »
Creditworthiness – Don’t Hurt Yours
There’s one simple rule you need to listen to when you’ve applied for a loan: DO NOT CHANGE YOUR CREDIT PROFILE. Whether you’re refinancing or purchasing, there is no easier way to cause problems for your mortgage loan officer, your bank, and the approval of your loan than to play with your money too much. … Continue reading »
Mortgage Rates Continue to Rise
It had to end sometime. This year’s historically low mortgage interest rates, at least for the time being, have come to an end. Rates have continued to rise for the 3rd week in the row, now passing 4% (for a conventional 30-year fixed-rate loan) in Connecticut and 3.74% nationally. What does this mean? Interest rates … Continue reading »
How to choose a Realtor®
Every day we hear horror stories about Realtor’s: Client’s Realtor’s aren’t responding to them; they’re not showing the house; they’re not finding houses worth seeing; they aren’t working very hard; they’re driving up purchase prices to make more commission; they’re not setting up property viewings as requested. Not all complaints are valid in all situations, … Continue reading »
What is Title Insurance & Why Do I Need It
Lenders today require title insurance to protect their interest in property that they lend on. If you have a mortgage loan or are taking a mortgage loan, it’s a sure bet that you will be required to purchase title insurance. What is Title Insurance? Title insurance protects the insured party against losses related to the … Continue reading »
It’s Time To Buy Real Estate
Over the past few years we at the Hamad Law Firm, LLC, have watched as the real estate market – both residential and commercial – plummet from its heights to lows we never thought we’d see. As you might imagine – and might be experiencing – this has scared away prospective property purchasers. Homes and … Continue reading »
Apartment Vacancy Rates Hit 10-year Low
Research firm Reis announced today that apartment vacancy rates nationwide have hit a 10-year low, falling to 10%. You can read the full article here. More impressively, New Haven, Connecticut has the lowest vacancy rate of any city in the country, according to Reis, at 2.1%. It has been previously reported that the downtown New … Continue reading »
Some Frequently Asked Real Estate Questions
There are some questions that just get asked all the time. Rather than writing a full article on each, I’m just going to give some quick responses today. Q: How Long is the Real Estate Closing Process A: Well this depends – and for the most part, it doesn’t depend on the closing attorney. The … Continue reading »
Nigerian Scammers Are Everywhere!
By Attorney Daniel Hamad As people – including attorneys and real estate agents – look for any deals to be found in this dismal market, scams have become more and more prevalent, and the scammers have become more sophisticated. Sophisticated enough that you can find even attorneys taken in by them. We typically call them … Continue reading »
Save Some Cash by Taking Cash
By Attorney Daniel Hamad Though mortgage rates have gone up over the past few months, we’re still seeing rates that are some of the lowest that have ever been available. A 30-year fixed mortgage is still available in the low 5% range, and a 5/1 ARM may be as low as 4%. This has been … Continue reading »
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