Tag Archives: danbury ct realtor

Things banks look in for condos

In addition to seeing if buyers are approved for financing, they want to make sure your condominium or townhome community is in good standing. There is a big form that they want completed by the property management company. The information that banks want include:

  • Are all of the common elements and/or amenties complete?
  • Is the project subject to additional phases?
  • Is the project a conversion of a previous building?
  • When was the community turned over to the HOA from the builder?
  • Number of total units & # of units rented out
  • Does any person or entity own more than 1?
  • # of units delinquent by 30 days?
  • Any special assessments for the community, involvement in litigation, or any adverse environmental things affecting the project or certain units?
  • Amount of money in reserves, income budgeted for the current year & amount going toward reserves
  • If the unit taken over by a foreclosure or deed in lieu, is the mortgagee responsible for delinquent HOA fees?
  • Coverage on insurance (liablity, fidelity bond, is the community in a flood zone)

Why Renting in Greater Danbury is Expensive

Renting is not a great plan if you are staying in the same area for more than 3 years.The average rent in Danbuyr is around $1500 a month. Assuming a 5% increase in rent per year, you would be out a considerable amount of money:

Year Monthly Rent Annual Rent

1 $1500 $18000

2 $1575 $18900

3 $1654 $19848

4 $1737 $20844

5 $1824 $21888

Total Rent Paid for 5 years:$99,480

The numbers even become more shocking if you are paying even more in rent.

Year Monthly Rent Annual Rent

1 $1800 $21600

2 $1890 $22680

3 $1985 $23820

4 $2084 $25008

5 $2188 $26256

Total Rent Paid for 5 Years = $119,364

In the same 5 years, if you had a $300,000 loan, lets look at your net worth.

After 5 Years (Assuming 3% increase in value per year):

Appreciation $47,625 to $347,625

Mortgage Balance ($279,163) $20,873 from $300,000

Total Net Worth $68,500

Even a 1.5% Home Appreciation Still Yields $35,000 Net Worth. Stop making your landlord rich. Call me to talk about how you can become a homeowner!

The Benefits of owning include:

Growth of equity over time: Over time, owners have opportunities to build equity and receive a great return on their investment.

Cash access: You can borrow against your equity or turn into into cash when you sell.

Tax Advantage: The interest on your loan is usually tax deductible.

Security: With a fixed rate mortgage, your payments will remain the same unlike rent.

Investment: Owners can make renovations that reflect their personal style and possibility raise the value in your home.

Why Units Sell at Westwood Village,Danbury CT

There are many reasons units always seem to sell over at Westwood Village on the west side of Danbury.

  • The community is composed of spacious well designed 1, 2 and 3 bedroom units.
  • A proactive condo board & professional management company keeps the community well maintained.
  • Great amenities including two pools, dog park and playground.
  • Prime location minutes to I-84, I-684, train stations and New York state.
  • Because of the community is set high upon a steep hill, some of the units do offer great views of the surrounding hillside and nearby lakes.
  • Westwood Village is close to shopping along Mill Plain Rd.

See what is for sale in Westwood Village in Danbury below

Finding Your New Home

It is hard to find your home. It might seem like a simple task when you get started but after looking at more than 15-20 houses, you realize it can be quite a difficult thing and I can understand how frustrating it may seem.You can see units in communities that you like but the bedrooms have no closets, you can see homes that you like but in neighborhoods that you don’t like or a great home in a neighborhood that you like which has something that you just can’t fix (steep driveway, across the street from a school, backing up to a highway or busy road and more)within reason.

With many homes currently on the market, it is still important to work with someone that has your interests in mind and they will show you as many homes is it takes to find ‘the one’ .An agent should listen to your ‘must haves’, ‘would like to have’ & ‘don’t want’ items on your list, so you most likely won’t need to look at over 50 homes in person before finding the right one. It can be very costly if you have found a place then quickly realize that it is not right for you because there are costs associated with purchasing & reselling. If you are interested in looking for a home & condo, or would like some general information on the real estate market, give me a call or email anytime.



Why it’s great to be a first time buyer!

Here are my seven good reasons why it’s great to be a first time buyer in the Greater Danbury Market?

  • You don’t have to worry about having to sell your current home in order to buy.
  • You can still get a mortgage with a low interest rate if you have money to invest as your down payment, a steady job and a good credit score.
  • Affordablity of move in condition properties and as well several opportunities to improve ‘fixer-uppers’.
  • You have time to think about your decision.
  • With the tax benefits and low interest rates, your mortgage payments might been just slightly higher than what you are paying each month for rent and getting nothing in return.
  • There is a larger selection of homes to choose from.
  • Home sellers might be more negoiatable on the price than in years past.
  • The average price of rent in the Danbury area has gone up.

Search for your first home!

Why You Don’t See For Sale Signs in Condo Communities

Often, I get calls from people saying they went into ‘xyz community’ located here, and they want to know more information about it & wonder what it is for sale. To there surprise, there are several units for sale in some of the luxury townhome communities in Danbury, such as Woodland Hills, Kensington Woods and Arlington Woods.


All condo & townhouse communities have restrictions written in to the homeowner’s association rules saying what they can and can’t do with the exterior. One of those things is about ‘for sale’ signs. Almost all of the townhome and condo communities do not allow them because they don’t want those units to stand out from the others. Also, they don’t want people driving around in the communities without a reason to be there (visiting friends or looking at property with an agent).


See condos for sale!


However, if you do decide to drive in to a complex and want more information on what is for sale or to arrange showings to units for sale, please send me an email.

Mill Plain & Western Danbury CT Real Estate

Mill Plain & the western side of Danbury is the newest & one of the fastest growing area of Danbury. If you read below, you will be why it is very popular.

There are plenty of places to do shopping, most notably being the Danbury Fair Mall. Stores and services in the area include Stop & Shop, Trader Joe’s, several kitchen cabinet & flooring showrooms, a couple of car dealerships, a few gas stations with auto repair shops, banks, veterinarians, gyms and jewelry stores. You can wine & dine with it’s countless restaurants including the Windmill Dinner, Bambino’s, Barca, Prespa, Rosy Tomorrow’s, Olive Garden, Red Lobster, Molly Darcy’s and Pandahouse. Recreational options include Richter Park & Lake Kenosia.

 Real estate options vary quite sustainably in the Mill Plain area. You get newer single family homes (Marina Farms & Ridgebury Hills) and many condos community to choose from including Westwood Village, Lake Place, Kensington Woods, Briar Woods & Rivington.  The neighborhood of Aunt Hack is found in the Mill Plain area, which is regarded by many as highly desirable. Other neighborhoods found in the Mill Plain area include El Morro Estates, Ken Oaks, Ridgebury & Miry Brook, which consist mostly of raised ranchs & split level homes, with some small colonials, capes & new construction.

Search for listings in Mill Plain & Western Danbury!

The Mill Plain area is well connected from commuting. With I-84 & I-684 only minutes from here, it is very easy to commute to White Plains, Greenwich as well as New York City. The Brewster NY train station is only 7 minutes away for a 75-80 minute trip to Grand Central Station. You will also find large corporate parks on this western side of Danbury, including the 1.5 million square foot former Union Carbide Center, the Boehringer Ingelheim campus along the Danbury/Ridgefield line, the Ridgebury office center, as well as several professional buildings found along Mill Plain Road. Another place of employment includes the western campus of Western Connecticut State University (Westconn).