Rob Gorman's (203forsale) Blog

Real Estate Broker/Owner - Rob Gorman / Town Green Real Estate
As of 8/26/2010 the average selling price of a single family home in Fairfield County is $651,993 That is 10.4% higher than the full year average selling price for all of 2009 of $590,332 (Greenwich is not include and 2 other towns data may be incomplete due to town  MLS's) 14 towns have experien...
Agents and Loan Officers tell the world about this truly remarkable milestone ! From most Fannie Mae Lenders - you can get a rate as low as 3.75% with a few points on a 30 year fixed rate loan. Do the math on what the savings are (or e mail me for a spreadsheet to help with the analysis). Many bo...
Sadly, I got some news today that a mortgage broker friend has finally closed the doors after a 20 year run! I also got an announcement card in the mail yesterday telling of 2 mortgage brokers who have joined together to create a new business. This made me think back on my career in the mortgage ...
Recently I have been speaking with clients and builders about the EPA regulation which became effective Aprill 22 throughout the US. It requires certification for a home improvement contractor to perform work on any home built prior to 1978 which contains lead paint. The interior work doesn't see...
A recent bulletin from HUD outlines some changes which will impact homebuyers.   In an effort to restore the depleted insurance reserves for FHA mortgages the UFMIP or Upfront Mortgage Insurance Premium is increasing from 1.75% of the loan amount to 2.25% of the loan amount. This amount is added ...
HVCC seems to be headed for the scrap heap! I have been following the debates for some time now as to whether the HVCC will be recognized as an ineffective tool to keep appraisers from being infuenced in their duties. I signed the petition put forth by Think Big Work Small which was hand delivere...
Tax Credit Extension and Expansion Explained    Tax Credit The $8,000 tax credit for first time buyers has been extended to April 30, 2010 ( June 30 for committed contracts signed by April 30 ). The credit is 10% of the purchase price to an  $8,000 maximum. Effective 11/7/09 a new tax credit of $...
  Real Estate Professionals, Mortgage Professionals, Residential Appraisers, Home Sellers, Home Buyers, Real Estate Attorneys, Title Companys.... TAKE NOTICE It looks like HVCC is heading toward the scrap heap ! If you or anyone you know has been impacted by this government intrusion into the rea...
It's Friday October 2, 2009 and the bond market is driving down the yield on bonds. Who does that help? All of us! Here's why. Lower bond yields help lower mortgage rates. $8000 first time homebuyer credit still available. If a house sells, the owner can get on with whatever plan they had which d...
Apparently, people are speculating that the United States Government is planning to become the source for mortgages. From a fiscally responsible viewpoint, this may well be beneficial to taxpayers in the long run. As a lender, the goverment would earn a profit in the form of interest on the loans...

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