East Granby Connecticut Real Estate & East Granby CT Homes For Sale Santa Realty is your top realtor in East Granby, serving all of your real estate needs. East Granby is in the Farmington valley, with the Farmington River passing along the southern border of the town. The Metacomet Ridge, a mountainous trap rock ridgeline that stretches from Long Island Sound to nearly the Vermont border, runs through the center of the town, cutting off Salisbury Plain to the east, which used to lie under the ancient, glacial Lake Hitchcock. High points on the Metacomet Ridge in East Granby include Hatchet Hill and Peak Mountain; the latter offers a bird’s eye view of the historic Old Newgate Prison. The 51-mile (82 km) Metacomet Trail traverses the ridge. To meet with Santa Realty, the #1 realtor in EastGranby, pick up the phone and call Rick or Kristina today! Contact Santa Realty today for all of your East Granby real estate needs.
Mortgage applications were higher again in January. If individual buyers dominate home sales as opposed to investors, we might see a more sustainable housing recovery. FORTUNE — Investors armed with cash have largely driven the recovery of the U.S. housing market to date, but a few signs suggest that trend may be easing up. For the past five months, applications for new mortgages have risen, suggesting that regular buyers may be starting to play a bigger role in the housing recovery. A shift would be significant. The worry has been that once home prices rise to a point where it’s not as worthwhile for investors to buy, prices could eventually drop off. But if individual buyers dominate home sales, we might see a more sustainable recovery under way. In January, mortgage applications rose by 1.8% from the previous month – the highest level in 18 months. And during the last week of January, applications rose to the highest level since mid-2010. To be sure, cash sales by investors haven’t let up. Colony Capital, Blackstone (BX), Waypoint Real Estate Group LLC and other firms have scoured the country from Phoenix to Atlanta for bargains. They’ve snapped up homes on the cheap, with plans to rent them out and eventually flip them for a profit when the market is right. MORE: Bank deposits soared in fourth quarter Roughly 20% of all existing homes are sold with cash, says Stephen Melman with the National Association of Homebuilders. That share has stayed steady for the past year. For there to be a shift in the market where individual buyers drive the recovery, cash transactions would likely have to drop to 10%. As interest rates stay ultra low, there have been many more borrowers refinancing their homes rather than taking out new mortgages. In 2012, it’s estimated that refinances made up 71% of all mortgage originations. However, experts expect home loans to rise as refinances decline: New mortgages are expected to increase from an estimated $503 billion in 2012 to $592 billion in 2013 and $703 billion in 2014, according to the Mortgage Bankers Association. Individual buyers will likely play a bigger role in the housing recovery, but the pace may feel like it’s happening in slow motion. At least it’s happening.
Existing-home sales reach five-year high Decent news today for a housing recovery in the United States: Existing home sales for 2012 have reached the highest level in five years, the National Association of Realtors says. The housing market has continued to pick up steam throughout the recovery, as record-low mortgage rates spur demand for homes.
Suffield Connecticut Real Estate & Suffield CT Homes For Sale Santa Realty is your top realtor in Suffield, serving all of your real estate needs. Located on the Connecticut River between Hartford, Connecticut, and Springfield, Massachusetts, Suffield is proud of its heritage and its steady growth, a product of careful planning. Beginning as a farming community in 1670, Suffield maintains a delicate balance between its colonial roots and today’s modern life-style. A lively community with a 2000 population of 13,555, Suffield is a gracious town with a rural flavor in a suburban setting. The town center boasts a small shopping complex and an excellent library. Recent expansion of public buildings includes a police station and school additions and renovations. Bradley International Airport on the southern boundary attracts business, while quick access to I-91 makes commuting up and down the Connecticut River valley from Vermont and New Hampshire to Long Island Sound an easy trip. This town is rich in contrasts – sweeping fields, forested hills, a picturesque Main Street, farms, shopping areas, and the Congamond Lakes. There are over 43 square miles of countryside. Some agricultural lands have given way to housing developments, though far-sighted citizens helped purchase property on West Suffield Mountain, where Sunrise Park offers a lake, hiking trails, picnic and recreation areas to town residents. Other lands are being preserved through the Suffield Land Conservancy, the Nature Conservancy, and the Farmland Preservation Act. To meet with Santa Realty, the #1 realtor in Suffield, pick up the phone and call Rick or Kristina today!