Foreclosure by Market Sale FAQ
Effective January 1, 2015 a new law goes into effect that provides an additional method of foreclosure which will support the real estate market by selling foreclosed residential properties at market prices, including the ability to market in the MLS.Â 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, plusÂ national and stateÂ resources related to flood issues.Â 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
12 Quick Questions for 2015 CTR President Sandy Maier Schede
Sandy was licensed in 1973, is an owner and REALTORÂ® with Maier Real Estate in Meriden and a member of the New Haven Middlesex Association of REALTORS. She lives in Meriden with husband Ernie and they have one daughter who lives in North Carolina.
1)Â Why did you start in real estate? It was a natural progression as my parents started Maier Real Estate in 1959 and I grew up in real estate. I took my test the last day of my junior year of high school. I worked in real estate through college then full time after that.
2)Â What was your first sale? My first sale was too long ago to remember. Letâ€™s just say Iâ€™m enjoying selling homes to the children of past clients.
3) What led you to the Presidency of CT REALTORSÂ®? Â The faith and confidence in me of other REALTORSÂ® led me to the presidency and for that I thank them.
Bob Kimball Named 2014 State REALTORÂ® of the Year!
Bob Kimball, a REALTORÂ® since 1994, is affiliated with William Raveis Real Estate in Mystic, CT. the 2012 President of Connecticut REALTORSÂ®, Bob also serves on the Board of Directors of the National Association of REALTORSÂ®. Bob is active in CTRâ€™s legislative efforts, contributes his expertise to shoreline and flood insurance issues and served on many CTR committees.
Kimball is a former Eastern CT Association of REALTORSÂ® President and past Local REALTORÂ® of the Year. He remains active in the North Stonington community serving on several town organizations including the Economic Development Commission and the Lions Club.
CT Home Sales in Connecticut Increase in December 2014
Connecticut REALTORS is providing monthly home sales and townhouse/condominium sales statistics to the media. Here is the December 2014 release.
Click here for the press release.
Click here for a larger view of the infographic.
Carbon Monoxide and Smoke Detector Law Changes
The Governor has signed into law revisions to the smoke and carbon monoxide detector law, effective July 1, 2014. There is a new affidavit that complies with those statutory changes. CTR has set up a page to provide information on the law and the changes here.
CTR Legislative Summary
The 2014 legislative session proved to be very fruitful for the Connecticut REALTORSÂ®.Â Two major pieces of legislation passed the General Assembly.Â For more information about what happened in this year's legislative session read the CTR Legislative Summary.
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 arerequired to furnish their purchasers with an affidavit that the property has working smoke and carbon monoxide detectors or to provide a credit. You can download the revised affidavit (effective July 1, 2014).
Changes to the National Flood Insurance Program (NFIP)
Rules and revisions to flood maps have resulted in significant insurance premium changes for many properties. CAR has developed a page of links and resources that you can use with your clients and customers; along with a special CT REALTORSÂ® Legal Alert that includes a glossary of terms and has an informational sheet to provide to sellers and buyers so they are aware of the potential impact of the changes.