Upcoming Changes to Federal Lending Regulations
The upcoming changes to Federal lending regulations (called TRID) effective on October 3, 2015 will 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. Also, consider attending the free TRID Update seminar during the CTR Leadership Conference on October 7.
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 is posting on their site definitive guidance as to when use of the revised Residential Property Condition Disclosure Report is required. Moving forward, with any listings that were not under contract as of the date of the revised form (March 23, 2015) you will need to have sellers complete theÂ revised form.Â There is recognition by DCP thatÂ thisÂ conflicts with other communications received and deliveredÂ in the past month. You can get the new form here or the fillable form here.
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.
August 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 August 2015 release.
Click here for the press release.
Click here for a larger view of the infographic.
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.
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. 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).