HouseLogic Offers Smart Advice to Owners The NATIONAL ASSOCIATION of REALTORS®

Daily Real Estate News | February 17, 2010 | Share HouseLogic Offers Smart Advice to Owners The NATIONAL ASSOCIATION of REALTORS® this week launched HouseLogic, a new, comprehensive consumer Web site designed to help home owners make smart decisions to maintain, protect, and increase the value of their homes. HouseLogic will help consumers take responsible actions pertaining to what is likely the largest investment of their lives. “Backed by the resources and industry insights of NAR and its REALTOR® members, HouseLogic will engage and involve consumers throughout the lifecycle of homeownership,” said NAR President Vicki Cox Golder. “It makes sense that, as the first, best source for real estate information, NAR should collaborate with today’s consumers to help them make the most out of owning a home. HouseLogic will help us do that.” The free Web site helps home owners plan and organize their home projects and provides timely articles and news; home improvement advice and how-to’s; and information about taxes, home finances and insurance. “Unlike other homeownership Web sites, HouseLogic helps consumers view their home through a financial lens and make smart, informed home improvement investment decisions,” said Golder. “Families can set goals for saving money on their home or increasing its value, and easily track the progress they are making on those goals.” Registered users can save relevant information, create to-do lists, and set project reminders. The Web site can also be customized for individual owners depending on how handy or ambitious they are regarding home projects; how much money they want to spend or save; where they live; and their priorities, such as increasing the value of their home or improving their neighborhood. HouseLogic also empowers home owners who want to get more actively engaged in shaping community life, advocating on neighborhood and homeownership issues that matter most to them. The site provides users with the tools and know-how to effect change, such as establishing a neighborhood watch program, building a community playground, or participating in city or county planning efforts. “For more than 100 years REALTORS® have been bringing America home,” said Golder. “HouseLogic takes owning a home to the next level, partnering with consumers to truly help people build their futures through homeownership.” Visit HouseLogic at www.houselogic.com — NAR

Steve Reilly
Higgins Group
203-246-7372
swreilly@swreilly.com

Westport Area Real Estate Market starting to show improvement

Local Real Estate Market Information©

(Through January, 2010 as of February 12, 2010)

TRENDS OF UNITS SOLD, MEDIAN SELLING PRICE AND AVERAGE DAYS ON MARKET

For, Fairfield County,

Properties sold - The trend has been down but that is starting to change. There was an increase in December, 2009 and again in January, 2010. For Westport, the same was true.

Median selling price - The trend has been down but that is starting to change. There was an increase in December, 2009 and again in January, 2010. For Westport, there was a big increase in January, 2010.

Average days on Market - The trend for last few months has been flat and there was no increase in January, 2010. For Westport, Days on market continued to increase in January, 2010.

You can see trends for all Fairfield County and Westport at he following link:

http://www.swreilly.com/marketinformation/localmarketinformation.htm

MONTHS OF INVENTORY FOR SALE BY TOWN IN FAIRFIELD COUNTY

Inventory is still high but the trend over the last few months was to have less propertis for sale but there was an increase in January, 2010 reversing the recent trend. See in the following charts.

http://www.swreilly.com/marketinformation/localmarketinformation.htm

Stephen Reilly

Higgins Group

Best Practice Real Estate

278 Post Road East

Westport, CT 06880

203-246-7372

swreilly@swreilly.com

www.swreilly.com

Repossession activity increasing in Fairfield County

Repossession Activity by Town in Fairfield County

Repossession activity is driving down the price of houses. After a home has been repossessed the owner and the bank have taken large losses on the property and when it comes back on the market the price is typically way under market.

The following chart shows repossession acitivty by town as of Jan 31, 2010.

http://www.swreilly.com/marketinformation/repos%20per%20town%20january%2031%202010.htm

The Wall Street Journal Reported on Monday 10/12/09 that "Foreclosures Grow in Housing Market Top Tiers". In most towns this was true in Fairfield County.

Repossession by town chart shows that most towns in Fairfield County the number of Repossessions increased as of January 31, 2010.

Fairfield County Real Estate Market Performance as of December, 2009

I am happy to report that December, 2009 was a good month for Fairfield County residential real estate. This is different than what The Wall Street Journal reported for the national real estate market. The WSJ reported that sales of existing home sale was down by 16.7% in December.

Local Real Estate Market Information©

(Through December, 2009 as of January 18, 2010)

TRENDS OF UNITS SOLD, MEDIAN SELLING PRICE AND AVERAGE DAYS ON MARKET

For, Fairfield County,

Properties sold - Trend is flattening with a big increase in December, 2009. For Westport, The same was true.

Median selling price - Trend is down but flattening with an increase in December, 2009. For Westport, there was a small decrease.

Average days on Market - Trend is up but there was a reduction in December, 2009. For Westport, Days on market continued to increase in December, 2009.

You can see reports that show supporting detail at the following link:

http://www.swreilly.com/marketinformation/localmarketinformation.htm

MONTHS OF INVENTORY FOR SALE BY TOWN IN FAIRFIELD COUNTY

Inventory is still high but the trend is down with December, 2009 down 3% from last month and down 7% since 2008. See in the following charts.

You can see reports that show supporting detail at the following link:

http://www.swreilly.com/marketinformation/localmarketinformation.htm

Call if I can help with any real estate issues or you want more information.

Regards,

Stephen Reilly

Higgins Group

Best Practice Real Estate

203-246-7372

swreilly@swreilly.com

Updated Local Market Information from Steve Reilly

Updated Local Market Information from Steve Reilly

I changed the format of the presentation this month to be able to see trends. I am tracking the trends for Units Sold, Median Selling Price, Average Days on Market and Inventory of properties for sale in 1) a composite of all Fairfield County Towns, 2) Westport and 3) Fairfield. If you decide to list your home with us we will run these reports for your town to get ahead of the trend.

Local Real Estate Market Information

TRENDS OF UNITS SOLD, MEDIAN SELLING PRICE AND AVERAGE DAYS ON MARKET

� Unit Sales Trend is down in Fairfield County towns with decline slowing. Media reported that nationally sales were up by 9.4% in September.

� Median Selling Price Trend is flat with a sharp drop in September 2009 vs. September 2008. Case Shiller reported that nationally selling prices were up in 17 of 20 markets they track. I don’t see this in Fairfield County yet.

� Average days on market Trend is up with rate of increase slowing except Westport showed a sharp increase in September 2009 vs. September 2008. Media reported that months of inventory is down but I don’t see this in Fairfield County yet.

The charts at the following link show these trends. Click tabs on bottom to navigate between all towns, Westport and Fairfield. Call if you would like to see the trend in another town.

Trends for all Fairfield County, Westport and Fairfield

http://www.swreilly.com/marketinformation/localmarketinformation.htm

The information at the following link shows the average price increase by town from 1999 through September, 2009 (as of October 12, 2009)

Home and Condo Sales by Town

MONTHS OF INVENTORY FOR SALE BY TOWN

http://www.swreilly.com/marketinformation/localmarketinformation.htm

Inventory is still high but the trend in most towns is mostly flat with a minor increase but not down as reported by the media and may be true in other parts of the country.

You can see the trend for all Fairfield County Towns, Westport and Fairfield at the following link.

Trend of Properties for sale overall and selected towns

http://www.swreilly.com/marketinformation/localmarketinformation.htm

The chart which shows inventory by town and by month back to 2005 is at the following link:

Months of Inventory available for sale by town

http://www.swreilly.com/marketinformation/localmarketinformation.htm


Disclaimer: This information should be accurate but is not guaranteed since it relies on the source.

Once in a life time opportunity to take advantage of depressed prices to make money investing in real estate.

Once in a life time opportunity to take advantage of depressed prices to make money investing in real estate.


Recent examples;

• Client A invested $45,000 to achieve an operating profit of $8,000 per
year or 18%.ROI and purchased a property for $35,000 cash that sold for $167,000 in 2006.

• Client B invested $52,000 to achieve an operating profit of $11,000 per
year or 21% ROI and purchased a property for $35,000 that sold for $170,000 in 2006.

• Client C Invested $50,000 to achieve an operating profit of $12,000 per
year or 23% ROI and purchased a property for $180,000 that sold for $390,000 in 2006.

Formula for our success:

• Rent until prices recover.
• Locate properties where the price has declined more than the market.(normally repossessed or short sales).
• Develop a realistic P&L considering closing, renovation and operating costs.
• Know the town, neighborhood and street.
• Have adequate cash to purchase low cost properties, large down payment and renovate.
• Purchase property.
• Renovate as required to taste of target tenants.
• Careful vetting of tenants.
• Allocate personal time to managing the property of hire a professional management company.
• Use Experienced Professionals.

If you want to know more call Steve Reilly, Higgins Group at 203-246-7372 or email swreilly@swreilly.com

Regards, Steve Reilly

Higgins Group
Best Practice Real Estate