Last week I posted a blog updating some of the changes to Connecticut Housing Finance Authority (CHFA) since my previous post. This post covered most of the requirements for CHFA Loans as well as additional programs that they have. The danger of writing a post like this is that it covers so much, that it is very easy to miss some very important points that most do not know, or have a misconception about. The reason why I included so much in that blog is because I wanted a blog that a Borrower could go to, and read all about CHFA in one place without having to search around and jump from one screen to another. The purpose of this blog and possibly others to follow, is to just pull out one of the features of CHFA that is commonly misunderstood, or not know, which could ha... 03/02/2009

The new Tax Credit has created a great new opportunity for all First Time Home Buyers, but it has created an even bigger opportunity for who are able to qualify for a CHFA Loan.  The previous Tax Credit was not available for mortgage loans that were funded/backed by Tax Exempt Bonds.  But the new Tax Credit in is now available for these loans as well as continuing to be available to all the other mortgages like FHA, VA, and Conventional loans. This is HUGE for CHFA Borrowers because now they may have the ability to not only apply for a mortgage that has below market rate interest, but they may also be able to borrow the Downpayment & Closing Costs at the same rate, as well as not getting this tax credit to do improvements to the property. For more information on the Tax Credit please r... 02/27/2009

Ever since the passage of the New Stimulus Package, we have been anxiously awaiting FHA to formally announce their new higher Loan Limits.  This finally happened yesterday when FHA published Mortgagee letter 2009-07 which included the 2009 TEMPORARY FHA loan limits which will be the same as the 2008 TEMPORARY LIMITS.  I say TEMPORARY because they will only be in effect until December 31, 2009, unless FHA extends them.  Below are the new FHA TEMPORARY Loan Limits for Connecticut. However, these new TEMPORARY LIMITS will not go into effect until investors start accepting them, which should happen over the next couple of weeks.  For Example when FHA came out with these same limit in the beginning of 2008, investors did not fully adopt them, investors increased them, but not to the full FHA... 02/26/2009

Earlier today I received an update from the President of McCue Mortgage, Bill McCue, on the Stimulus package that the House and Senate have come to agreement on, and expected to be signed by President Oboma some time today. This update was mainly on the Tax Credit which has been in place for almost a year and has now been altered by new legislation. The legislation that was finally agreed upon has be significantly altered from what I posted ten days ago. As in my previous blog I am going to just concentrate on the Tax Credit portion of the legislation at this time, and will give further updates on other parts of it at a later date. The tax credit is only for first time buyers just as defined in the past. The credit is increased from $7,500 to $8,000. The credit is no longer an interest ... 02/16/2009

THIRD CONGREGATIONAL CHURCH 94 MINER STREET MIDDLETOWN, CT If you have been following my blogs for a while, you know that I post activities and events that the Third Church in Middletown CT holds.  Now that school vacation is coming upon us this week (at least in parts of Connecticut) I'm sure you are wondering what the children and family might be interested in doing. Well moms.. or for those who cook in the family.  This coming Saturday, February 21st the Third Congregational Church is holding a pasta dinner.  I'm never gone to this event, but I gone to their pork and pot roast dinners and have not been let down.. not by a long shot. I will be taking my sons to this and will be checking it out.  If you are interested too, It is ALL YOU CAN EAT which for my older son will be great with... 02/15/2009

 IGNITE YOUR SALES - CONQUER CALL RELUCTANCE AND PROCRASTINATION  There are times when we loose our motivation and tend to procrastinate out work.  If you are looking to get inspired and loose that procratination, the Chamber of Commerce in Middletown CT, is holding this event.  Bill Kenney will speak about, Networking You! This is an interactive high energy workshop and is designed to help participants learn techniques for eliminating procrastination and call reluctance.  Don't delay, don't put off, don't avoid...attend this workshop and build the future of your dreams.  Defeat self limiting behavior Establish patterns of success I'm blogging about this now, to have you start loosing that "I'll put it off" feeling.. you can't.  This event is being held tomorrow, Tuesday, February 10, ... 02/08/2009

Sales volume is down as is median sale price. Inventory level has fluctuated with a large drop in January.  Current Market...Number of single family homes on market: 180Average Asking Price: $304,603Median Asking Price: $274,900*Source of information is the Co-op MLS of Connecticut as of February 4, 2009.  January 2009 Summary -Sales: 11 homes, down 42% from a year ago.Median Sales Price: $174,000, down 29% from a year ago.Months Supply of Inventory: 6.2 months, down 24% from a year ago.  December 2008 Summary -Sales: 19 homes, up 46% from a year ago.Median Sales Price: $220,000, down 2% from a year ago.Months Supply of Inventory: 15.3 months, up 15% from a year ago.  With the slow-down in the market, and continued historically low interest rates, now can be a great time to buy! Buyers ... 02/05/2009

Middletown Market Report for Last Quarter of 2008 and 2007 Comparison to 2008 Residential 9/1/2007 - 12/31/2007 compared to 9/1/2008 - 12/31/2008   The residential market in Middletown showed a drop in sales of  7.7% with 91 sales in the last quarter of 2007 and 84 in the last quarter of 2008.  The median sale price dropped 13.4% from $268,453 in 2007 to $232,450 in 2008.  There are 160 active listings on the market as of today.  1/1/2007-12/31/2007 compared to 1/1/2008 - 12/31/2008  Looking back at 2007 compared to 2008 there was a drop in sales of  31% with 378 in 2007 compared to 261 in 2008.  Overall the median sale price dropped 6%, from $250,000 in 2007 to $235,000 in 2008.  Days on the market remained relatively unchanged and homes are selling for about 96% of their final asking ... 01/07/2009

  23RD ANNUAL HOLIDAY ON MAIN STREET CONTINUES...    Saturday, December 13th - KIWANIS CLUB OF MIDDLETOWN DAY! 9:30 a.m. to 2:30 p.m.    • 9:30 a.m. - 11:00 a.m BREAKFAST WITH SANTA at Middletown Park & Recreation Office (100  Riverview Center - Suite 140) and Free Pictures with Santa  • 10:30 a.m - 2:30 p.m. - The Kiwanis Club of Middletown will be staffing the POPCORN & HOT stand in front of the Chamber - stop by to learn more about the organization! Also HOLIDAYplayed by Harvest Woods Audio.  • 10:30 a.m. to 2:30 p.m. - There will be FREE HAYRIDES, sponsored by Liberty Bank& Downtown, and SANTA! • 10:30 a.m. - 2:30 p.m. - THE FUN TRAIN will offer FREE RIDES on the sidewalk around the downtown throughout the day! • 10:30 a.m. - 2:30 p.m. - CREATIVE JUICE HOLIDAY SHOPPE at Main Street... 12/13/2008

The Middletown Democratic Town Committee is sponsoring a   Bus Trip to IKEA & the Christmas Tree Shop Saturday December 6, 2008 FROM 8:00AM TO 5:00PM Looking to go shopping but do not prefer not to drive, or hassle trying to find parking spaces as you get all those important holiday gifts this season? Why not spend the day with friends and forget the driving?  For only $20.00 per seat, join family and friends for a fun day of eating and shopping.  A bus trip sponsored by the Middletown Democratic Town Committee will leave City Hall (Melilli Plaza) at 8:00am and return at 5:00pm.  The first stop the bus will make is to the Christmas Tree Shop in Orange, CT where you can shop for bargains from 8:45am until 11:30am.  Safely store your treasures on the bus as it continues for more shopping ... 12/02/2008

HOLIDAY ON MAIN STREET Friday, November 28th from 1:00 to 8:30pm THREE TREE LIGHTINGS!  With Thanksgiving behind us, and most of us are just relaxing from all the food we ate, this might be a good time to see what activities are going on in the community... to wear off all that turkey.  Please join us on Main Street in Middletown CT today.  Beginning at 1:00 p.m. is when the annual "Holiday on Main Street" kicks off. Here are some of the events scheduled for today, Friday, November 28th... with different events going on every Saturday between now and Christmas.    Free Hayrides at 4:00pm The Micky Mouse Train will be running from 1:00 to 5:00pm Holiday Story Time each week-Meet the Characters that are in the book!  Also selling Hot Popcorn & Pretzels and playing Holiday Music...fun for ... 11/28/2008

GOODS AND SERVICE AUCTION THIRD CONGREGATIONAL CHURCH 94 MINER STREET MIDDLETOWN, CT  I believe at this point we have all had our fill with fairs and exhibits.. but when was the last time you went to an auction?  This forthcoming Friday, November 7th the Third Congregational Church in Middletown is holding a "Goods and Service" auction.  You remember this church from my previous blogs.  The wonderful Harvest Dinner, The Ice Cream Social.. and so much more. Starting at 6pm on Friday you will be able to walk around, and enjoy 2 hours of previewing.  During this time you will also be able to enjoy hot and cold hors d'oeuvres.  The actual auction starts at 8 pm with a break for intermission and dessert at 9pm.  All proceeds from the auction are to aid the church's building fund.  So, if you... 11/03/2008

Third Congregational Church Middletown, CT I posted a blog last week about an annual Harvest Dinner being held at the Third Church in Middletown, CT.  It sounded really good, and everything fell into place where I was able to make it.  I'm sure glad I did.  The food was outstanding... and I don't think I was the only one that felt that way.. the church was packed.  I have to admit, I was stuffed, but I went back for seconds on the pork.. just for the taste/flavor.. Hmmm it was so good.   The Partnership for Sharing did a wonderful job. This is comprised of members of the church to form this committee. These people put the whole dinner together.. including serving. These members were up at the crack of dawn, and started cooking the pork loins at 8am.  Why so early.. they had 170 pounds t... 10/20/2008

Market Report for Middletown for September and 1st 3 Quarters    Residential SeptemberActive - 152New Listings - 52Deposits - 20Closed - 24Average Sale Price - $211,372SP/Sq.Ft - $145.12DOM - 55 1/1/2008 - 9/30/2008Closed - 199Average Sale Price - $253,137  Median Sale Price - $228,000SP/Sq.Ft. - $155.08DOM - 65 1/1/2007 - 9/30/2007Closed - 309Average Sale Price - $268,082  Median Sale Price - $250,500SP/Sq.Ft. - $156.91DOM -60 Number of sales are down 36% compared to last year.  Average sale prices are down 5.6% and median sale prices are down 9%.  September saw a drop of 16.5%compared to the first 9 months of the year.  Hopefully this is not a trend. Condominiums SeptemberActive - 76New Listings - 27Deposits - 10Closed - 15Average Sale Price - $161,533SP/Sq.Ft - $142.54DOM - 72 1/1/20... 10/20/2008

HARVEST PORK DINNER THIRD CONGREGATIONAL CHURCH 94 MINER STREET MIDDLETOWN, CT Don't you find on fall weekends you are out and about with the family.  At this time of the year, you are apple picking, pumpkin picking.. or raking those dreaded fall leaves.  With everything you are doing, do you really have time to cook dinner tonight?  Do you want a break from this activity/chore?  The Third Congregational Church on 94 Miner Street in Middletown, CT is holding its annual Roast Pork Dinner this evening, Saturday, October 18th.  The event starts at 5pm and continues to 7pm.  On the menu is Roast Pork with mash potatoes and gravy Fresh homemade butternut squash and green beans. Then you have a choice of either apple or pumpkin pie (coffee and tea available)... that is if you have room. All o... 10/18/2008

This was the second summer running, that Middletown, CT Community Renewal Team offered free lunches for children in Middletown and Portland. In 2006 the number of children that participated was nearly 3,500. Last year, 2007 the number of children went up to 8,557.  This year it has more than doubled, again.  The initial tabulation indicates that 17,508 meals were served. Some of the volunteers at the beginning of the program this summer were a little leary.. not sure what to expect.  Once the program was underway, they couldn't believe how well behaved the children were and how polite. Free lunches were served at the Community Room at Maplewood Terrace, Cross Street AME Church, Green Street Arts Center, Macdonough School, St. Francis of Assisi Church and Traverse Square. In Portland the... 08/27/2008

If you are looking for something to do today and want to be outside... it is tooooo gorgeous to be inside, you should venture to Middletown, CT.  Today there is an Open Air Market and Festival at the Wadsworth Mansion and should promise a variety of things to do. It has something for everyone, and you can spend the whole today checking out all the vendors.  There will be among 84 venders at the market and festival. Besides home grown fresh fruits and veggies, there will be spices, chips, honey baked goods, kettle corn, ice cream, Italian ice, hand made jewelry, wood crafts, stained glass, products made from Alpaca wool, music and children's activities. The market and festival run from 9 a.m. to 4 p.m. at the Wadsworth Mansion, 421 Wadsworth StMiddletown, CT 08/24/2008

  THIRD CONGREGATIONAL CHURCH 94 MINER STREET MIDDLETOWN, CT The Third Congregational Church on 94 Miner Street in Middletown, CT is holding its annual ice cream social this Thursday, August 14th between 6 and 8pm.  I can't believe a year has gone by since I went to this ice cream social/fundraiser.  It is an event for the whole family.  You make your own sundaes.. and there are LOTS of toppings to choose from.  The price for the adults is $3.50 and children under the age of 10 is only $2.00... and you can go back for seconds.  When have you heard this before?   08/13/2008

Market Report for Middletown for June 2008 & First Half of 2008 to 2007 Residential June 2008Active - 176New in June - 57Deposits - 23Closed - 15Avg.Sale Price - $285,000Sp/SqFt - $173.49DOM - 26 Jan. 1 ,2008 - June 30, 2008 Closed - 112Median Sale Price - $232,500Sp/SqFt - $161.08DOM - 45 Jan. 1, 2007 - June 30, 2007 Closed - 200Median Sale Price - $255,500SP/Sq.Ft - $158.48DOM - 44 Comparing the first half of 2008 to 2007 sales are down 46%, prices are down 9.1% and days on market are relatively unchanged.  As you can see there has been a big drop in sales and prices seem to have dropped. Condominiums June 2008 Active - 83New in June - 14Deposits - 15Closed 12Avg. Sale Price - $190,000SP/SqFt - $142.97DOM - 29 Jan. 1, 2008 - June 30, 2008 Closed - 87Avg. Sale Price - $172,868SP/SqFt -... 07/21/2008

On Wednesday July 16, 2008 the annual Main Street Festival returns to Middletown.  This is one of the more spectator friendly events for a 5k race and offers plenty of activity to keep family and friends occupied during the 20-40 minutes it takes most participants to cross the finish line. Not your typical 5k is a fitting name for this run.  The first time I ran in Middletown was the only time I have ever done a showing in my running gear.  I was working with a young couple that requested a second look at a house in Middletown so I tossed on my running shorts and my Ravies Tee Shirt.  I wound up talking them out of that house because of the extensive work required and their limited budget but the race finish photo turned out pretty good and I have used it ever since. My second running o... 07/09/2008