A few videos and images have been created especially for REALTORSÂ® to share on social media to help promote the value of using a REALTORÂ®. Â We have also included a list of suggested posts and social media sharing tips to help make it easy. Click here to view, share or download any of the content.
April Shows Rise in Single-Family Home Sales
Connecticut REALTORS is providing monthly home sales and townhouse/condominium sales statistics to the media. Here is the May 2016 release.
You can find the electronic and print versions of CTRâ€™s Foundations Advisory issued on 11/20/15, and revised on 6/16/16 at our website through the links below.
There are now two versions of the form, one for sellers and one for buyers. The sellerâ€™s electronic and sellerâ€™s print versions, and buyerâ€™s electronic and buyerâ€™s print versions are available through these links. Both sellerâ€™s and buyerâ€™s electronic versions and are expected to be available in the coming weeks in our CTR Forms Library with zipLogix.
The Connecticut Department of Consumer Protection (DCP) issued aÂ press release on 1/7/2016 updating the public on the status of the State'sÂ scientific and other research to determine the scope and extent of a problem with reported crumbling concrete foundations. The release includes, "In furtherance of that investigation, the agencies have now entered into an agreement with a concrete expert from the University of Connecticut to conduct a scientific investigation into the cause of the reported crumbling foundations. That investigation is expected to yield preliminary conclusions in the Spring of 2016. It is anticipated that the expert will evaluate a sampling of testing results, as well as a variety of other information."
Since that time, DCP has added a page to their site titledÂ About Concrete Foundations and our Investigationwhich includes additional general information and resources for the public about this topic. The page includes links to their two brochures covering facts about concrete, the link to file a complaint, links to each of the press releases from November 2015, and two from May 2016, the home inspector advisories, insurance information, the link to the Agreement between DCP and the companies JJ Mottes Company and Becker Construction Company, and the Residential Property Condition Disclosure Report link.
Also included on this general page is an update on the investigation they commissioned to determine the cause of the crumbling foundations. As of their last update to the page on 5/9/2016, they report â€śThe state has hired a civil engineer whose area of expertise is concrete. Our expert and his team have started taking core samples from crumbling foundations in Eastern Connecticut and are testing and analyzing them to determine the cause of the deterioration and help determine how many homeowners are impacted. We have determined through our investigation that pyrrhotite is a factor in crumbling foundations, and our investigation continues to search for other conditions that contribute to deteriorating foundations. We expect our investigation to conclude in the fall of 2016.â€ť The entire update may bereviewed online.
Reminder About Foundations Disclosures: The Sellers Residential Property Condition Disclosure ReportÂ (available in our forms library through Ziplogix)includes extensive sections for sellers to disclose known material defects or problems with many aspects of their property, including Foundation issues which are inclusive of cracks.
2015 Profile of Home Buyers and Sellers in Connecticut
Each year, CTR commissions the National Association of REALTORS to include an oversample of Connecticut to compare the profile of buyers and sellers in Connecticut with National statistics.The 2015 Report has been released and is available for you to read or download(ctrealtors.com username and password required).Â A few notable statistics:Â In CT, 44% of buyers in 2015 were first-time buyers compared with 32% nationally. Buyers of new homes in CT was 4% compared with 16% nationally.Â In Connecticut, there was a median of 10 miles between the homes that recent buyers purchased in 2015 and the homes that they moved from.Â Nationally, that distance is 14 miles.Â You can read many more statistics and view various charts in the Report.
Get to Know CTR's 2016 President Michael Feldman
2016 Connecticut REALTORSÂ® President Mike Feldman was licensed in 1980 in New York and 1985 in Connecticut. He is a REALTORÂ® and Associate Broker with William Raveis Real Estate in Stamford, a member of the Stamford Board of REALTORSÂ® and lives in Stamford with wife Debbie, who is a psychiatric nurse.Â We asked Mike a few questions:
1) Why did you start in real estate? My dad had his own real estate company and he wanted me to go to a large company, be trained and go from there. I only received two job offers coming out of Syracuse University: an appraiser position and a real estate sales position. I chose sales.
2) What was your first real estate sale? On my first day in real estate, Tuesday, July 1, 1980, I had a walk-in who bought a single family home with an attached beauty salon in Syracuse. Took 6 months to close and I made $1800. I thought this business would be easy. Â Read more...
NAR Dues-Based Member Benefit - Ziplogix
Connecticut REALTORÂ® members are now able to get CTR forms at no cost through the zipForm easy-to-use software, as a NAR dues-based benefit. This option now replaces the PDF and fillable forms formerly on our website. Click here to read our FAQ and get started.
CTR Partners With Two CT Aquariums
CT REALTORSÂ® is excited to announce our partnership with Connecticut's two Aquariums. Meet Clara and Ripley, two sea lions rescued from California and brought to their new home at the Mystic Aquarium, because finding wonderful homes is what Connecticut REALTORSÂ® do. CTR is also sponsoring the "Adopt a Seal" program at the Maritime Aquarium. Visit this pageto viewÂ our video, press announcement and more..Â
NFTP Video Highlights Recent Changes
FEMA's National Flood Insurance Program (NFIP) has a new video that "covers important NFIP changes including new Non-Residential categories, new guidance for determining a Primary Residence, revised rate tables for certain Post-FIRM buildings, and revised ICC rates. You'll also learn about modifications to the underwriting forms, Floodproofing Certificate, and the endorsement and cancellation refund rules. And finally, something that is not part of the November 1 program changes but also coming soon: a new FEMA Elevation Certificate incorporating a new building diagram." To view,click here.
TheirÂ sitealso includes important legislative bulletinsand other instructional videos to assist in understanding flood insurance and NFIP.
Recent Changes to Federal Lending Regulations
The recent changes to Federal lending regulations (called TRID or "Know Before You Owe") took effect on October 3, 2015 and are expected to have a significant effect on closing procedures when purchasing a home.Â Click here for a document that briefly explains the relevant information to help complete a smoother transaction.Â
CTR Launches "Experts" Campaign - Materials for REALTORS
The Connecticut REALTORSÂ®Â statewide marketing awareness campaign has kicked off with radio spots, billboards, and placements in malls, and more. Consumers are directed to this landing page to test their real estate vocabulary and find a CT REALTOR: www.ctrealtors.com/experts.
Connecticut REALTORS are encouraged to visit our marketing page which includes campaign materials available for download and sharing on social media.
Residential Property Condition Disclosure Report Form - UPDATED
As ofÂ Tuesday, April 21, 2015, DCP posted on their site definitive guidance as to when use of the revised Residential Property Condition Disclosure Report is required. Any listings that were not under contract as of the date of the revised form (March 23, 2015) sellers need to complete theÂ revised form.Â There is recognition by DCP thatÂ thisÂ conflicts with other communications received and deliveredÂ around the time the updated form was released. This form isÂ available in our forms library through Ziplogix.
Foreclosure by Market Sale FAQ
Effective January 1, 2015 a new law went into effect providing an additional method of foreclosure which will support the real estate market by selling residential properties in a pending foreclosure 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
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 are required to furnish their purchasers with an affidavit that the property has working smoke and carbon monoxide detectors or to provide a credit. CTR has set up a page to provide information on the law and the changes here. You can download the revised affidavit (effective July 1, 2014).