February 28, 2020 Real Estate

Page 16 | Greenwich Sentinel | February 28, 2020

REAL ESTATE DASHBOARD Deborah Ference-Gray

REAL ESTATE DASHBOARD MASTHEAD DASHBOARD EDITOR

Mark Pruner | Mark@GreenwichStreets.com | mark@bhhsne.com

CONTRIBUTORS

One Pickwick Plaza Greenwich, CT 06830

Robert Pulitano | RobertPulitano@bhhsne.com Cesar Rabillino | CesarRabellino@bhhsne.com Pam Toner | PToner@HoulihanLawrence.com

Office: 203.618.3155 Mobile: 917.584.4903

Visit www.GreenwichSentinel.com to sign up for 5 Things To Do in Greenwich Today for events and up to date open house listings each weekend.

For Market Updates and Listings Visit deborahferencegray.com

deborah.ferencegray@sothebyshomes.com

NEW SALES

FEATURED OPEN HOUSES

Data Compiled by Cesar Rabellino (203) 249-9866

Data Compiled by Rob Pulitano [203] 561-8092

Address 128 Valley Drive 24 Stag Lane 24 Stag Lane 8 Serenity Lane 183 N Maple Avenue 13 Chieftans Road 18 Lower Cross Road 54 Nicholas Avenue 56 Caroline Place 33 Thornhill Road 10 Sunshine Avenue 14 Indian Pass 33 Ridge Street 24 Midbrook Lane 10 Northwind Drive 107 Havemeyer Place 25 S End Court 75 Old Orchard Road 142 Lower Cross Road 128 Valley Drive 19 Hill Road 43 Mianus View Terrace 4 Nimitz Place 22 Brown House Road 469 Field Point Road 13 Old Club House Road 24 Stag Lane 24 Stag Lane 183 N Maple Avenue 33 Wesskum Wood Road 104 Meadow Road 23 Meadowbank Road 282 Taconic Road 16 Greenbriar Lane 613 Round Hill Road 1 Lismore Lane 13 Chieftans Road 34 Annjim Drive 62 Lockwood Road 27 A Bayside Terrace 215 North Street 31 Lindsay Drive 487 Lake Avenue 1 Tower Lane 291 Stanwich Road 93 Old Church Road 170 Old Mill Road 27 Evergreen Road 105 Parsonage Road 65 Clapboard Ridge Road 18 Lower Cross Road 344 Shore Road

Area Greenwich Greenwich Greenwich Cos Cob Greenwich Greenwich Greenwich Greenwich Greenwich Riverside Riverside Greenwich Cos Cob Old Greenwich Stamford Greenwich Old Greenwich Riverside Greenwich Greenwich Greenwich Cos Cob Old Greenwich Old Greenwich Greenwich Old Greenwich Greenwich Greenwich Greenwich Riverside Riverside Old Greenwich Greenwich Greenwich Greenwich Greenwich Greenwich Greenwich Riverside Riverside Greenwich Greenwich Greenwich Old Greenwich Greenwich Greenwich Greenwich Greenwich Greenwich Greenwich Greenwich Greenwich

Price $7,500 $8,000 $8,000 $11,500 $11,500 $13,500 $25,000 $529,000 $679,900 $750,000 $774,900 $825,000 $849,000 $1,195,000 $1,395,000 $1,495,000 $1,595,000 $1,635,000 $1,730,000 $1,785,000 $1,849,995 $1,875,000 $1,875,000 $1,895,000 $1,900,000 $2,095,000 $2,175,000 $2,175,000 $2,199,000 $2,395,000 $2,695,000 $2,795,000 $2,795,000 $2,800,000 $2,950,000 $2,995,000 $2,999,000 $3,275,000 $3,375,000 $3,395,000 $3,400,000 $3,575,000 $3,685,000 $3,695,000 $3,700,000 $3,995,000 $4,945,500 $5,150,000 $5,395,000 $6,995,000 $7,995,000 $8,950,000

Day/Time Sun 1-3 PM Sat 2-4 PM Sun 2-4 PM Sun 1-3 PM Sun 2-4 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 11-1 PM Sun 12-2 PM Sun 1-3 PM Sun 1-4 PM Sun 1-3 PM Sun 1-3 PM Sun 1-4 PM Sun 1-3 PM Sun 2-4 PM Sun 1-3 PM Sun 1-4 PM Sun 12-2 PM Sun 1-3 PM Sun 1-3 PM Sun 2-4 PM Sun 1-3 PM Sat 2-4 PM Sun 2-4 PM Sun 2-4 PM Sun 1-3 PM Sun 1-4 PM Sun 1-3 PM Sat 1-3 PM Sun 2-4 PM Sun 1-3 PM Sun 12-3 PM Sun 1-3 PM Sat 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 1-3 PM Sun 2-4 PM Sun 1-3 PM Sat 1-4 PM Sun 1-4 PM Sun 1-4 PM Sun 1-3 PM Sat 2-4 PM Sun 1-3 PM Sun 1-3 PM

Broker Sotheby's Houlihan Lawrence Houlihan Lawrence Berkshire Hathaway Houlihan Lawrence Houlihan Lawrence Berkshire Hathaway Houlihan Lawrence Sotheby's Sotheby's Berkshire Hathaway New England Land Berkshire Hathaway Houlihan Lawrence Berkshire Hathaway Sotheby's Houlihan Lawrence Houlihan Lawrence Berkshire Hathaway Sotheby's William Raveis Berkshire Hathaway Houlihan Lawrence Berkshire Hathaway New England Land Houlihan Lawrence Houlihan Lawrence Houlihan Lawrence Houlihan Lawrence Sotheby's Sotheby's Berkshire Hathaway Coldwell Banker Houlihan Lawrence Coldwell Banker Coldwell Banker Houlihan Lawrence Berkshire Hathaway Houlihan Lawrence Sotheby's William Raveis Houlihan Lawrence Sotheby's Houlihan Lawrence Sotheby's Houlihan Lawrence Houlihan Lawrence Berkshire Hathaway Berkshire Hathaway Houlihan Lawrence Berkshire Hathaway Houlihan Lawrence

Address

Original List

2 Homestead Lane 413 11 Rockland Place 4 Shelter Drive 3 Bote Road 49 Morningside Drive 373 Taconic Road

$465,000 $715,000 $1,477,000 $2,095,000 $2,349,000 $7,495,000

List Price

$465,000 $715,000 $1,345,000 $1,895,000 $2,050,000 $4,995,000

Sold Price DOM BR FB Acres

$460,000 $640,000 $1,250,000 $1,795,000 $1,900,000 $4,600,000

119 252 433 287 251 1,410

2 2 4 4 5 7

2 2 2 3 3 9

0 0.23 1 0.28 0.47 4.28

SqFt

870 1,268 3,463 3,491 3,706 12,232

NEW LISTINGS

Data Compiled by Cesar Rabellino (203) 249-9866

Your Luxury Greenwich Movers Address

List Price

Price/SqFt

SqFt

351 Pemberwick Road 826 19 Whiffletree Way 19 50 Weaver Street 174 Putnam Park 174 8 Whiffletree Way 8 20 Hunt Terrace 33 Thornhill Road 99 Monica Road 12 Mary Lane 1 Cross Ridge Drive 28 Home Place C1 40 Oak Ridge Street 1 56 Byram Shore Road 7 Tree Top Terrace 5 Shady Brook Lane 3 Fairfield Avenue 633 Round Hill Road 18 Benenson Drive 4 Nimitz Place 25 Selden Lane 8 Ridge Road 40 Riverside Lane 13 Old Club House Road 71 Fairfield Road 3 Gaston Farm Road 35 Boulder Brook Road 23 Annjim Drive 329 Stanwich Road 35 Lauder Lane 15 Grossett Road 270 Stanwich Road 3 Intervale Place 23 Boulder Brook Road 55 Rockwood Lane 31 Lindsay Drive 60 Hillcrest Park Road 22 Old Club House Road 364 Cedar Hill 94 Rockwood Lane 78 Zaccheus Mead Lane 16 Chimney Corner Lane

$495,000 $569,000 $630,000 $639,000 $640,000 $645,000 $750,000 $875,000 $885,000 $999,000 $1,100,000 $1,225,000 $1,295,000 $1,295,000 $1,525,000 $1,595,000 $1,600,000 $1,825,000 $1,875,000 $1,899,000 $1,899,000 $1,950,000 $2,095,000 $2,195,000 $2,200,000 $2,295,000 $2,295,000 $2,450,000 $2,450,000 $2,695,000 $2,695,000 $2,895,000 $2,995,000 $3,495,000 $3,575,000 $3,699,000 $3,875,000 $3,875,000 $5,895,000 $5,995,000 $8,995,000

$470 $402 $481

1,054 1,416 1,310

0 0.15

$590 $378 $541 $651 $573 $651 $570 $415 $433 $431 $442 $854 $284 $422 $419 $278 $539 $478 $702 $658 $248 $488 $584 $521 $628 $738 $502 $663 $483 $458 $622 $740 $1,050 $621 $692 $451 $1,191

1,085 1,706 1,386 1,344 1,544 1,534 1,930 2,950 2,991 3,008 3,452 1,868 5,638 4,324 4,474 6,821 3,520 4,076 2,986 3,334 8,880 4,700 3,932 4,704 3,903 3,652 5,367 4,366 6,203 7,628 5,749 5,000 3,692 6,242 8,516 13,305 7,551

0 0.19 0.17 0.14 0.17 0.42 0 0 0.71 0.72 0.34 0.12 2.09 1 0.23 7.73 0.39 0.2 0.26 1 2.12 1.07 0.28 2 2.06 0.77 1.07 0.88 1.33 1.77 2.02 1.11 0.47 2.02 1.75 5.02 1.04

(203) 990-1535

ClancyMoving.com/Greenwich-CT President's Quality Winner

AC

BR

FB

Area

2 2 4 2 2 2 2 3 3 3 2 4 4 4 4 3 5 5 4 5 5 5 4 3 6 5 4 4 5 6 5 4 6 5 5 5 4 6 5 6 6

2 2 2 2 2 1 2 2 2 2 2 3 3 4 3 3 4 5 5 6 4 4 2 3 4 5 4 3 5 4 4 3 6 4 4 4 4 6 4 7 6

Glenville Riverside Pemberwick South of Post Road Riverside Glenville Riverside Pemberwick Riverside Old Greenwich South of Post Road South of Post Road South of Post Road Glenville Old Greenwich Old Greenwich North Parkway Cos Cob Old Greenwich North Parkway Cos Cob Riverside Old Greenwich South Parkway North Parkway South Parkway South Parkway South Parkway South Parkway Riverside South Parkway South of Post Road South Parkway South Parkway South Parkway Old Greenwich Old Greenwich South Parkway South Parkway South Parkway South of Post Road

Your Luxu Greenwich M

NANTUCKET ISLAND VACATION RENTALS AND SALES IslandPropertiesRE.com 508.228.6999

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REAL ESTATE

Happy Hunting

The Information You Need on FHA Loans

By Cheryl MacCluskey Connecticut, how people love Fairfield county, the quintessential charm of New England, with its rich heritage of revolutionary history, small beautiful cities, top quality Universities and a quality of life that lends to raising a family. It is no wonder why so many people would like to call Connecticut home.

FHA loans were developed by the U.S. Federal Housing Administration to help veterans, Lower income borrowers and first time homebuyers.

FHA are provided by FHA approved Lenders and have different eligibility requirements than conventional lenders.

FHA loans seem like the answer for many people because of their benefits but there are also drawbacks to FHA loans. It is always advised to discuss your options with your Loan Officer but here are the Pros and Cons of FHA Loans so you have the information needed to make an educated decision.

PRO: One of the top selling points of the FHA loan program is that borrowers only need to put down 3.5%. The bonus for FHA is if you are approved you can use funds from domestic partners, friends and family members for the down payment.

PRO: If you find a home that is in need of TLC and your heart is set on the home, you can apply for an FHA 203 (K) loan. It is designed to help homeowners secure the necessary funds to complete all the renovations that are needed. The 203(K) loan is not calculated on the value of the property but rather on the value after the repair.

PRO: FHA loans are assumable!

If you are purchasing a home from someone who has an FHA mortgage you have the option to assume their mortgage rather obtain a new

mortgage. If you choose to do so, you could secure a lower mortgage rate.

PRO: Another great selling point is that FHA has no prepayment penalties, with conventional loans, some lenders do reserve the right to charge a prepayment penalty if you choose to pay off your loan early.

This gives the lender the opportunity to recoup some of the cost for lost interest overtime.

CON: It is true that the FHA loan program is more forgiving on borrowers who have lower credit scores than non-traditional credit history, but even with FHA a borrower has to have at least a 580 or higher to take advantage of a lower

loan amount. The annual premium is added to your monthly mortgage payments and can range anywhere from 0.45% to 1.05%, this is all dependent on the size and terms of the loan.

FHA now will not take off the PMI insurance once you are below the 80% loan to Value. This is something that FHA implemented recently.

So the only way to stop paying PMI once you have hit the 80% LTV is to refinance into another loan.

CONS: Although a 203(K) loan can certainly expand the range of property options that are available to you, it will not open all the doors. One of the most important stages of the

New England, with its rich heritage of revolutionary History, no wonder people want to call Connecticut home! down payment. If the borrower has a credit score lower than 579 but above 500, you could still have to put down around 10%.

CON: With FHA loans there are stricter loan limits. Limits vary from county to county based on factors such as median cost of housing per county and type of housing. Conventional loan limits are generally higher than FHA limits.

A good example is a Conventional loan limit for a single-family home in Hartford is $510,400, while the FHA loan limit for the same home is $353,050. In Fairfield County the limit for a Conventional loan and FHA is $601,450. There are 8 Counties in CT with different limits.

CON: FHA loans are considered by a lender as higher risk than other loans because they are granted to the borrower who usually has lower credit scores and higher debt-toincome ratios, and lenders are more likely to see that borrower as higher risk to default on their Loans. This means to the borrower that if you are approved for an FHA loan in CT, you will pay higher insurance premiums.

There are two premiums all FHA borrowers must pay. An upfront premium and an annual premium.

You pay the upfront premium usually 1.75% of the loan amount. You have the option to either pay this premium at closing or you can roll it into the

FHA Loan application is to work with a Department of Housing and Urban Development-approved appraiser to review the condition of the home you choose. These appraisers are trained to ensure that the home meets Minimum Property Standards, that the home is safe, livable and up to code.

You must choose a Loan Officer that has the expertise necessary to not only help you determine which type of loan best fits your specific situation, but to connect you to the right lender and secure the best loan terms possible. You want a Loan Officer who strives to develop relationships built on mutual trust and respect. You should not settle for anything less. Happy Loan Hunting.

Cheryl is a resident of Greenwich where she lives with her family. Cheryl is a graduate of Bennett College, Marist College and Columbia. Throughout her mortgage career she has held origination positions at Citizens Bank, Wells Fargo Private Mortgage Bank in Westchester, and First Republic in Greenwich CT. Prior to Cheryl’s mortgage career she was a Principle at M & M Development residential builders in Greenwich. She is a member of the Greenwich Board of Realtors, Chamber of Commerce of Greenwich and an active member of the YMCA.

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