East Lyme Real Estate Market Report for August from Bridget Morrissey

East Lyme Realtor Bridget Morrissey presents the East Lyme Real Estate Market Activity Summary for the month of August 2019. 

 

 

 

 

 

 

 

 

Call or text East Lyme Realtor Bridget Morrissey about East Lyme homes for sale at 860-857-5165!

Located just 20 minutes west of famed Mystic, Connecticut, and just two hours from New York city or Boston, MA., sits the quaint village of Niantic Connecticut

Niantic is a warm, friendly and inviting seaside village easily accessible by car, foot, boat or train. It is a wonderful place to visit, play, and live. It's a place where residents and visitors alike gather for specialty shopping, a wide-array of gourmet and eclectic dining choices, creative entertainment and arts, and water related activities within a village that has maintained its historic past.

Niantic is the only community on the Connecticut coast where the "Main Street" runs parallel to the beautiful Long Island Sound. Downtown Niantic is the traditional center of East Lyme, with a Town Hall, a non-chain specialty supermarket, a famed movie theater, various restaurants and pubs, a one-of-a-kind book store, several antique and boutique shops, and a town beach all within walking distance.

While it's a great place to spend the day, there are also a couple of great bed and breakfasts and inns to suit the out-of-town visitors. Niantic has become a tourist destination in its own right, with Niantic Bay and Long Island Sound to the south, and the Niantic River to the east.

For more information see the rest of the article at http://www.discovereastlyme.com/niantic.php

 

Tracking your home related espenses

Owning a home means having a place that’s safe and secure to come back to after a long day at work, every day, forever, until you decide it’s time to buy a different home. In exchange for all this homeiness, all you have to do is keep all the broken bits together, maintain the grass and track home-related expenses.

Oh yes. If you don’t do a little bookkeeping, the tax man gets his and more. Might as well keep that cash as not, right?

Why You Should Track Home-Related Expenses

Your primary residence isn’t an investment, this has been said time and again (especially since the market crashed entirely), but that doesn’t mean that when you go to sell you have to take a loss. Far from it.

In fact, as of the writing of this article, you’ll likely qualify for a tax exclusion (meaning you won’t pay taxes on this amount of profit from your home sale) of $250,000 if you file on your own or $500,000 if you and your spouse file your taxes together. But, if you sold and there was more than the applicable amount in gains, you’ll have to pay taxes only on the profit above the mark. When you have all your ducks in a row, it gets a lot easier to see what side of that line you stand on.

Reducing Your Tax Burden is the Goal

When your gain from your home sale exceeds your tax exclusion, there are two ways to help improve the situation with all those receipts you’ve been saving (you have been saving them, haven’t you?). First, you can deduct expenses related to selling your home, provided these are not expenses that affect the house physically. Think closing fees, brokerage commissions, and some seller-paid closing costs.

The other way to reduce your capital gains burden is to produce records that account for your extensive remodeling. These are the kinds of projects you definitely need a hand with. They include, but are not limited to:
    Adding an additional room
    Upgrading your kitchen
    Replacing flooring
    Having new landscaping installed
    Putting on a new roof

The best part? These don’t have to be from the same tax year as when you sold. If you added that bedroom three years ago, pony up the receipts and reduce your tax burden. Unfortunately, regular home maintenance isn’t included on this list of ways to save a few dollars. Make sure you keep those receipts separate.

Get a Little Help From Your Friends

Keeping track of your personal finances, let alone the expenses related to your home, can be a daunting task. There are so many ways to pay these days and so many different kinds of things to pay for. This is the very reason, though, that you must be even more careful when tracking home-related spending.

Everybody has their own system, to be sure, but some are clearly superior to others. For example, if your plan is just to toss a bunch of receipts in a bucket until you get around to sorting them and manually recording each one, you may want to look into something a bit more efficient.

Even an Excel workbook is out-modeled these days, but there are several different types of apps you can use to help track your expenses, including:

Complete personal finance apps. Popular apps like Mint and Wally are essentially full personal finance packages that happen to store receipts. While you can give these apps permission to grab you bank information from a variety of banks all at once, you may end up with enough data that it’s a trick to find those old receipts down the road.

Dedicated receipt storage. Shoeboxed, Receipts by Wave and Expensify are far more focused on the receipt part of your financial picture. All allow you to photograph and upload the receipts in question, can export the data you collect as a variety of reports and have a cloud-storage option, so you don’t have to worry that you’ll lose your receipts if you change phones or need to reload your operating system. PS. BTW, Shoeboxed will actually take that bucket of receipts and process them for you if you mail them in.

Receipt storage designed for homeowners. 

Not to toot our own horns, but toot toot. HomeKeepr allows you to scan your receipts in and helps you track home-related expenses automatically. All you need to do is snap a picture of your receipt and the software does the rest. You can then sort your receipts by the service type or business so you can see at a glance how much you’re spending on your project. Unlike other receipt trackers, HomeKeepr can track and maintain records for related items like appliance manuals and maintenance tasks that are due for your home.

Are You Ready to Invest in Your Home This Year?

May 2019 Real Estate Market Report Bridget Morrissey

East Lyme Realtor Bridget Morrissey presents the East Lyme Real Estate Market Activity Summary for the month of April 2019. It shows that there were 18 homes sold and 14 are pending. There were 103 active homes for sale in East Lyme in April. Ten units were sold in 0-30 days, one in 31-60 days, two in 61-90 days, two in 91-120 days, one in 121-180 days, one in 181-365 days and one took over a year to sell. For the entire East Lyme Real Estate Market Report from East Lyme Real Estate Agent Bridget Morrissey please click HERE.

Groton Realtor Bridget Morrissey presents the Groton Real Estate Market Activity Summary for the month of April 2019. It shows that there were 21 Groton homes sold and 17 are pending. There were 163 active homes for sale in Groton in April. Eleven units were sold in 0-30 days, five in 31-60 days, one in 61-90 days, none in 91-120 days, none in 121-180 days, one in 181-365 days and three took over a year to sell. For the entire Groton Real Estate Market Report from Groton Real Estate Agent Bridget Morrissey please click HERE.

Gales Ferry Realtor Bridget Morrissey presents the Gales Ferry Real Estate Market Activity Summary for the month of April 2019. It shows that there were 48 Gales Ferry homes for sale and 4 Gales Ferry homes for rent . The Median Listing Home Price in Gales Ferry was $219,000. On average, homes in Gales Ferry sell after 93 days on the market. For the entire Gales Ferry Real Estate Market Report from Gales Ferry Real Estate Agent Bridget Morrissey please click HERE.

Ledyard Realtor Bridget Morrissey presents the Ledyard Real Estate Market Activity Summary for the month of April 2019. It shows that there were 18 homes sold and 23 are pending. There were 59 active homes for sale in Ledyard in April. Five units were sold in 0-30 days, four in 31-60 days, two in 61-90 days, two in 91-120 days, one in 121-180 days, three in 181-365 days and one took over a year to sell. For the entire Ledyard Real Estate Market Report from Ledyard Real Estate Agent Bridget Morrissey please click HERE.

Mystic Realtor Bridget Morrissey presents the Mystic Real Estate Market Activity Summary for the month of April 2019. It shows that there were 145 Mystic homes for sale and 6 Mystic homes for rent . The Median Listing Home Price in Mystic was $335,000. On average, homes in Mystic sell after 98 days on the market. For the entire Mystic Real Estate Market Report from Mystic Real Estate Agent Bridget Morrissey please click HERE.

New London Realtor Bridget Morrissey presents the New London Real Estate Market Activity Summary for the month of April 2019. It shows that there were 12 homes sold and 10 are pending. There were 69 active homes for sale in New London in April. Five units were sold in 0-30 days, one in 31-60 days, four in 61-90 days, none in 91-120 days, none in 121-180 days, none in 181-365 days and two took over a year to sell. For the entire New London Real Estate Market Report from New London Real Estate Agent Bridget Morrissey please click HERE.

Niantic Realtor Bridget Morrissey presents the Niantic Real Estate Market Activity Summary for the month of April 2019. It shows that there were 104 Niantic homes for sale and 14 Niantic homes for rent. The Median Listing Home Price in Niantic was $289,900. On average, homes in Niantic sell after 86 days on the market. For the entire Niantic Real Estate Market Report from Niantic Real Estate Agent Bridget Morrissey please click HERE.

North Stonington Realtor Bridget Morrissey presents the North Stonington Real Estate Market Activity Summary for the month of April 2019. It shows that there were 3 homes sold and 4 are pending. There were 26 active homes for sale in North Stonington in April. No unit was sold in 0-30 days, one in 31-60 days, none in 61-90 days, none in 91-120 days, none in 121-180 days, one in 181-365 days and one took over a year to sell. For the entire North Stonington Real Estate Market Report from North Stonington Real Estate Agent Bridget Morrissey please click HERE.

Norwich Realtor Bridget Morrissey presents the Norwich Real Estate Market Activity Summary for the month of April 2019. It shows that there were 26 homes sold and 33 are pending. There were 107 active homes for sale in Norwich in April. Nine units were sold in 0-30 days, six in 31-60 days, none in 61-90 days, one in 91-120 days, seven in 121-180 days, two in 181-365 days and one took over a year to sell. For the entire Norwich Real Estate Market Report from Norwich Real Estate Agent Bridget Morrissey please click HERE.

Pawcatuck Realtor Bridget Morrissey presents the Pawcatuck Real Estate Market Activity Summary for the month of April 2019. It shows that there were 55 Pawcatuck homes for sale and 6 Pawcatuck homes for rent . The Median Listing Home Price in Pawcatuck was $267,500. On average, homes in Pawcatuck sell after 72 days on the market. For the entire Pawcatuck Real Estate Market Report from Pawcatuck Real Estate Agent Bridget Morrissey please click HERE.

Preston Realtor Bridget Morrissey presents the Preston Real Estate Market Activity Summary for the month of April 2019. It shows that there were 5 homes sold and 3 are pending. There were 17 active homes for sale in Preston in April. Three units were sold in 0-30 days, none in 31-60 days, two in 61-90 days, none in 91-120 days, none in 121-180 days, none in 181-365 days and none took over a year to sell. For the entire Preston Real Estate Market Report from Preston Real Estate Agent Bridget Morrissey please click HERE.

Stonington Realtor Bridget Morrissey presents the Stonington Real Estate Market Activity Summary for the month of April 2019. It shows that there were 11 homes sold and 10 are pending. There were 131 active homes for sale in Stonington in April. Four units were sold in 0-30 days, one in 31-60 days, one in 61-90 days, one in 91-120 days, none in 121-180 days, one in 181-365 days and three took over a year to sell. For the entire Stonington Real Estate Market Report from Stonington Real Estate Agent Bridget Morrissey please click HERE.

Waterford Realtor Bridget Morrissey presents the Waterford Real Estate Market Activity Summary for the month of April 2019. It shows that there were 25 homes sold and 13 are pending. There were 139 active homes for sale in Waterford in April. Twelve units were sold in 0-30 days, seven in 31-60 days, none in 61-90 days, three in 91-120 days, none in 121-180 days, none in 181-365 days and three took over a year to sell. For the entire Waterford Real Estate Market Report from Waterford Real Estate Agent Bridget Morrissey please click HERE.

Charlestown Realtor Bridget Morrissey presents the Charlestown Real Estate Market Activity Summary for the month of April 2019. It shows that there were 9 homes sold and 35 are pending. There were 49 active homes for sale in Charlestown in April. Three units were sold in 0-30 days, one in 31-60 days, two in 61-90 days, none in 91-120 days, one in 121-180 days, none in 181-365 days and two took over a year to sell. For the entire Charlestown Real Estate Market Report from Charlestown Real Estate Agent Bridget Morrissey please click HERE.

South Kingstown Realtor Bridget Morrissey presents the South Kingstown Real Estate Market Activity Summary for the month of April 2019. It shows that there were 41 homes sold and 52 are pending. There were 103 active homes for sale in South Kingstown in April. Eighteen units were sold in 0-30 days, eleven in 31-60 days, five in 61-90 days, two in 91-120 days, one in 121-180 days, two in 181-365 days and two took over a year to sell. For the entire South Kingstown Real Estate Market Report from South Kingstown Real Estate Agent Bridget Morrissey please click HERE.

Westerly Realtor Bridget Morrissey presents the Westerly Real Estate Market Activity Summary for the month of April 2019. It shows that there were 23 homes sold and 38 are pending. There were 82 active homes for sale in Westerly in April. Seven units were sold in 0-30 days, eight in 31-60 days, four in 61-90 days, two in 91-120 days, one in 121-180 days, none in 181-365 days and one took over a year to sell. For the entire Westerly Real Estate Market Report from Westerly Real Estate Agent Bridget Morrissey please click HERE.

5 Reasons To Sell This Winter!

Here are five reasons listing your home for sale this winter makes sense.


1. Demand Is Strong


The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.


Take advantage of the buyer activity currently in the market.


2. There Is Less Competition Now


Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.


Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.


The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.


3. The Process Will Be Quicker


Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 46 days.


4. There Will Never Be a Better Time to Move Up


If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!


Prices are projected to appreciate by 4.8% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.


5. It’s Time to Move on With Your Life


Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?


Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.

East Lyme Real Estate

The East Lyme Real Estate Market Report is a monthly statement of East Lyme Median List Price, the East Lyme Zillow Home Value Index, the East Lyme Median Sales Price, and the East Lyme Zillow Rent Index.

East Lyme Median List Price
East Lyme Zillow Home Value Index

East Lyme Median Sale Price

East Lyme Zillow Rent Index

#EastLymeRealEstate   #OwnSweetOwn  #EastLymeHomesForSale

East Lyme Real Estate

The East Lyme Real Estate Market Report is a monthly statement of East Lyme Median List Price, the East Lyme Zillow Home Value Index, the East Lyme Median Sales Price, and the East Lyme Zillow Rent Index.

East Lyme Median List Price
East Lyme Zillow Home Value Index

East Lyme Median Sale Price

East Lyme Zillow Rent Index

#EastLymeRealEstate   #OwnSweetOwn  EastLymeHomesForSale

East Lyme Real Estate

The East Lyme Real Estate Market Report is a monthly statement of East Lyme Median List Price, the East Lyme Zillow Home Value Index, the East Lyme Median Sales Price, and the East Lyme Zillow Rent Index.

East Lyme Median List Price
East Lyme Zillow Home Value Index

East Lyme Median Sale Price

East Lyme Zillow Rent Index

#EastLymeRealEstate   #OwnSweetOwn  #EastLymeHomesForSale

East Lyme Real Estate

The East Lyme Real Estate Market Report is a monthly statement of East Lyme Median List Price, the East Lyme Zillow Home Value Index, the East Lyme Median Sales Price, and the East Lyme Zillow Rent Index.

East Lyme Median List Price
East Lyme Zillow Home Value Index

East Lyme Median Sale Price

East Lyme Zillow Rent Index

#EastLymeRealEstate   #OwnSweetOwn  #EastLymeHomesForSale

East Lyme Real Estate

The East Lyme Real Estate Market Report is a monthly statement of East Lyme Median List Price, the East Lyme Zillow Home Value Index, the East Lyme Median Sales Price, and the East Lyme Zillow Rent Index.

East Lyme Median List Price
East Lyme Zillow Home Value Index

East Lyme Median Sale Price

East Lyme Zillow Rent Index

#EastLymeRealEstate   #OwnSweetOwn  #EastLymeHomesForSale

East Lyme Real Estate

The East Lyme Real Estate Market Report is a monthly statement of East Lyme Median List Price, the East Lyme Zillow Home Value Index, the East Lyme Median Sales Price, and the East Lyme Zillow Rent Index.

East Lyme Median List Price
East Lyme Zillow Home Value Index

East Lyme Median Sale Price

East Lyme Zillow Rent Index

#EastLymeRealEstate   #OwnSweetOwn  #EastLymeHomesForSale