Most Hydrangea in Ledyard are blue or white. My Endless Summer variety are a bit of both and that is why I like them so much. We seldom see pink Hydrangea here unless they are forced into being pink by adding something to the soil. I don’t like asking plants to do something they don’t want to do naturally. Changing their color to be pink when they are meant to be blue is kind of like some blondes I’ve seen.  If you know what I mean.

The Freedom of Information Act (FOI) was established in 1975 to promote open government by ensuring citizens access to the records and meetings of public agencies in the State of Connecticut. Volunteer and paid officials often find themselves in trouble when they don’t follow Freedom of Information procedures. In small local governments, like Ledyard, when the FOI Act is violated it is usually not a deliberate act but due to ignorance of the law. Typically when that happens, the FOI Commission requires an educational session to be held. I try to attend these (I’ve been to 3) simply to be sure I understand the more confusing parts of the act. Thomas Hennick, Public Education Officer of the FOI Commission does a nice job as an educator by using the right mix of seriousness and humor. Mr. Hennick, a public official himself in a small town, tosses in a few real examples of violations to keep the session interesting.  He was in Ledyard a few months back after some complaints (my own included) that the Zoning Commission entered an executive session illegibly. I wasn’t trying to be the bad guy but would prefer the town stay out of trouble.

Which brings me to this week. My mailbox and voice mail have had a small flurry of complaints about perceived Freedom of Information violations in Ledyard specifically as it pertains to obtaining documents. I understand the burden gathering requested documents can put on a town, but The Act is pretty specific on the topic of public access to records. It is all spelled out in Section 1-210 . You can also call Mr. Hennick at (866) 374-3617 or by email at foi@ct.gov. I do plan to follow up on the complaints to be sure the Town of Ledyard Government (that includes me) is making its best effort in providing requested documents in a timely manner.

Last week was a strange one. They say that famous people die in three’s but I’ve lost count. First it was TV’s most famous sidekick, Ed McMahon, then Farah Fawcett, an angel, died after a long bout with Cancer. Sadly her death was overshadowed by that of Michael Jackson, who was anything but an angel but never the less, was the King of Pop. Next, we heard about the death of Billy Mays of infomercial fame. Then came the announcement of the passing of actress and singer Gale Storm. She is probably best know for her star role in the TV sitcom, My Little Margie back in the 50’s and is most likely the least known of the stars that have died recently. Yet her passing brings back the most vivid memories for me.

My mom, who would be 89 had she lived past her short 49 years, sang with Gale Storm. It wasn’t a long career but I certainly remember the stories she shared as I was growing up in Pittsburgh. I still have the browned newspaper article from the early 1940’s, which told of a Saturday night war bond rally in Texas with entertainment by the 99th Division Band featuring Eva Mannella, vocalist. (That’s my mom!) Also entertaining was Gale Storm. 

Although my mom sang as a volunteer for the 99th Division, she was mostly following my dad, who would be soon heading overseas to go on to fight in World War II’s Battle of the Bulge.  When he left, Mom returned home to Pittsburgh, and waited for his return. Fortunately, he did return from that battle although 19,000 did not.

$48,000 of war bonds were sold that night in Houston, which seems like a lot of money even now.

The combination of the Realtors, mortgage lenders and the government spreading the word about the $8,000.00 tax credit for first time homebuyers is definitely impacting the market in Southeastern Connecticut. 96.2% of the mortgage business at the New London office of McCue Mortgage during the month of June has been from people buying homes compared to refinance business.  Most of the clients are buying their first homes and will be eligible for the $8,000.00 tax credit but some of the buyers were selling their present home and moving up.

This is a very good sign.  Houses are selling and buyers are out looking at houses to buy.

Rates are staying favorable, houses prices are more reasonable and the $8,000.00 tax credit is encouraging buyers to come into the market.  2009 may be a better year in the housing industry than was expected.

Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil.  You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.

Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.

There are 100 active residential listings in Ledyard, priced from a low of $74,900 to a high of $1,644,876 on a historic home on 68 acres in Ledyard. (I bet there is a story about that listing price.) 

As you know, if you've been reading this newsletter for awhile, I get concerned when inventory goes over 100. I expect inventory to drop on July 1st when a number of listings expire on June 30th.

There were 4 pending sales reported this week and only 3 new listings.That is a trend that would be nice to see continued.  There were 3 closed sales reported bringing this years closed sales up to 60. The lowest priced sale reported this year is $103,000 and the highest priced sale was $385,000. To put this in perspective, in 2007, I reported 104 closed sales on this date.  Ouch.

Ledyard Snapshot - June 28, 2009

Number of Ledyard Homes Currently for Sale: 100
Last week there were 102 active listings in Ledyard.

Number of Ledyard Homes Currently Pending:  24

Number of Homes Sold in 2009: 60

There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.

The highest priced home to sell in Ledyard in 2009:  $385,000
  (The highest price in 2008 was $740,000)

This week’s photo is my new listing at 56 Harvard Terrace in Ledyard. Visit my listing website to find photos of all my current homes for sale.

The real estate market is poised to make a recovery. First time homebuyers are out in high numbers thanks to historically low interest rates and the $8000 tax credit carrot. Life should be getting better for home sellers and the real estate community, right?  Not so fast. On May 1st of this year, the Home Valuation Code of Conduct (HVCC) went into effect and although the name sounds noble, the results of this act are not. HVVC was primarily enacted to eliminate fraud and inflated appraisals but has succeeded in hurting the very people it was trying to protect. In addition, new FHA rules effective April 1st require that a Market Conditions Addendum be included on any appraisal for a loan to be insured by the FHA. Appraisers must also adhere to new strict guidelines when the property they are appraising is in a declining market area. These tighter rules are to prevent a buyer from paying more for a home than it is worth.

I understand that new guidelines for appraisals are intended to help avoid the bad stuff that happened just a few years ago as prices escalated to ridiculous levels. We even have our own predatory lending case in New London County to show for “the greedy years”. Unfortunately, home sellers, are now dealing with low appraisals, and as a result canceled home sales when the home doesn’t appraise for what a buyer is willing to pay. In a time when buyers are ready to buy and home sales could help stimulate the economy, it just got harder to buy a home.

For a good resource on home appraisals in general, visit The Appraisal Scoop. For an excellent article explaining the new FHA appraisal guidelines, stop by Mortgaged Future.

One of the worst parts of listing foreclosure homes is opening the door for the first time. You never know quite what to expect. We have rescued a few cats and kittens, found copper pipes removed, and discovered homes with holes where they shouldn’t be. Many of the homes are “trashed” and filthy. People often leave their homes angry about life in general as this week’s Photo Friday portrays.

The Ledyard Historical Society and the Ledyard Garden Club will be offering a House and Garden Tour this Friday and Saturday, June 26th and June 27th. There will be four houses and four gardens on the tour, advertised as “four diverse and special homes and four great gardens.”  The two starting points are the Nathan Lester House at 153 Vinegar Hill Road and the Maugle Sierra Winery on 825 Colonel Ledyard Highway.

If the rain finally ends here in Eastern Connecticut, I suspect that the tour will be a great success. Who doesn’t  love snooping around in other people’s gardens and homes to get ideas for their own?  Many in the area haven’t had a peek yet of the newish Maugle Sierra Winery, so it will be a great opportunity to get an up close and personal look (and perhaps a sip or two) at the winery, as well as the 1744 farmstead located at 825 Colonel Ledyard Highway. I’d suggest ending at the Winery and taking home a bottle of the newly released 1740 Ledyard House Rose.

The cost is $20.00 (that doesn’t include that bottle of wine) and proceeds will benefit scholarship funds of the Ledyard Historical Society and the Ledyard Garden Club.

Now more than ever you want to work with and receive advice from real estate and mortgage professionals who have worked in the business for an extended time period.

In today's real estate market, it is important to have professionals help you especially if you are buying your first home. Realtors, Mortgage Loan Representative, Home Inspectors and Real Estate Attorneys all play a critical role in guiding you through the maze of what has to be done and when it has to be done. Real Estate professionals who have worked in the business for a number of years have learned from, not only books, but the real world, how things have to be done.

Information about various mortgage programs, recommended testing of  various components of the home, neighborhoods, recreational facilities, and where to find school information are just a few of the things that real estate professionals may help you with. don't hesitate to ask someone for their background and experience in the field. Also, it is a good idea to ask your friends and relatives for their recommendations.

Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil.  You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.

Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.

Is no news good news? There is really nothing new or exciting to report this week as the current trends continue. Maybe it was the rain, or the last day of school plus all those graduations, but activity was sluggish this week. Showings were down in general.

Listing inventory is slowly creeping up and there are now 102 active Ledyard residential listings to report this week. I really start getting concerned when inventory goes over 100. There were 5 pending sales to report this week (not bad) with most priced under $250,000. There have been a total of 57 closed sales reported in Ledyard this year, unfortunately nothing to brag about.

It deserves repeating from last week’s report that those buyers waiting for lower interest rates, may have missed the boat as interest rates, while still historically low, are higher than they were just a few weeks ago.

Ledyard Snapshot

Number of Ledyard Homes Currently for Sale: 102
Last week there were 100 active listings in Ledyard.

Number of Ledyard Homes Currently Pending:  24

Number of Homes Sold in 2009: 57

There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.

The highest priced home to sell in Ledyard in 2009: $385,000

 (The highest price in 2008 was $740,000)

This week’s photo was taken at the office of RE/MAX Realty Group in Gales Ferry

Ledyard’s mil rate of 25.65 is one of the highest in the area but it won’t be going any higher for the 2009-2010 tax year.  After several months of meetings, the Ledyard Town Council voted to hold the line on taxes.

Occasionally I receive feedback from other agents that buyers find Ledyard taxes too high. Ledyard is a bedroom community and attracting commercial or industry business has always been a challenge due to the town’s lack of water/sewage. Although some parts of town do have water, sewage isn’t available in any of our commercially zoned areas.   

I wish we could run the Town of Ledyard like a business instead of as a government.  I bet we could even reduce taxes. <sigh>

Lake of Isles Golf Course is well known in the golf world for the natural landscape that surrounds 90 acre Lake of Isles. The landscape is perfect for wildlife and I’m often joined by a critter or two, some of which have been subjects of previous Eastern Connecticut Photo Fridays. This week I ran into this cute  little guy. I think he looks impressed with my golf swing, don’t you?

I had high expectations for today. I started the morning watching the US Open on my phone before television coverage began. I planned to end the day at Ledyard High School’s graduation. One of the perks of being on the Ledyard Town Council is being able to march in with the graduates. Unfortunately Mother Nature has other plans for me. Ledyard High School graduation has been moved indoors. There won’t be much room for families let alone spectators so giving up my seat was an easy decision.

The US Open, being held on Long Island, is experiencing the same weather as we are in Southeastern CT. Play has been suspended as puddles cover the fairways and greens. 

Congratulations Ledyard High School graduates! Graduation will go on without me. As far as the US Open, Tiger and I will have to wait another day.

Regular visitors to this blog know that I was born and raised in Pittsburgh. I have really fond memories of growing up in the city that is home to my beloved Pittsburgh Steelers. 

My sister Diane and I both attended 12 years of Catholic Schools. We probably could write a book on the subject of being educated by nuns but the story of growing up Catholic has been written more than a few times. 

My sister and I are pretty much total opposites. She’s petite and I’m not. I’m a great cook and she’s not. She’s a liberal and I’m a member of the vast right wing conspiracy. I’m totally techie and she, well she’s not. One thing we have in common in addition to both of us being fanatic Pittsburgh Steelers fans, is our love of M&M’s. So you’ll understand that she was the first person I called when I found new limited edition coconut M&M’s at the grocery store today. Anxious to find coconut M&M’s in Pittsburgh, my sister said she would Google and try to find them. You could have knocked me over with a feather. Diane, who just started using email about a year ago is now a Googler. Even though Google has been around since 1995, I’m impressed. I think the nuns would be too.

Junk in the Trunk
“One man’s trash is another man’s treasure”

Saturday, June 20, 2009 - 8:00AM – Noon

Ledyard Fairgrounds

The first “Junk in the Trunk” yard sale offers residents or vendors an opportunity to dispose of  no longer used items and make some money too! Looking for something special?  You might find it here.

Residents/Vendors:  If you would like to reserve a parking space in the Junk in the Trunk event, please fill out the registration form, which can be found at the Ledyard Parks and Recreation website. Each Resident/Vendor will be assigned one parking space for a vehicle and the fee is $20.00. Beside using your vehicle as a display area, you may set up a table in the front of your vehicle. You must reserve your spot by Thursday, June 18th.

 Highlands Lake - Opens June 20th

 Lifeguard Coverage 10:00AM – 6:00PM Daily

Parking and Restrooms Available

Free admission!

It is an interesting time in the mortgage business. Fixed rates are still great but they have increased from their historic lows of just a few weeks ago. This may be a time to consider the Hybrid ARM's. Most of our clients have elect to use the fixed rate mortgage programs offered whether they are Conventional, VA, FHA, Rural Development or CHFA. This may be a good time to consider the Hybrid ARM's.

The Hybrid ARM's are set up to have a fixed rate for the first 3, 5, 7, or 10 years. At the end of the fixed rate period, they convert into Adjustable Rate Mortgage (ARM) loans. The benefit of this type of mortgage loan is that you usually enjoy a lower rate for the first 3, 5, 7 or 10 years than what is available with a fixed rate loan. If you know that you will only own your home for this length of time, you will enjoy the lower interest rate and payment compared to the higher 30 year fixed rate mortgage.

Another benefit is if you decide to keep the house past the initial period when the conversion takes place, the new payment is based on the remaining principal balance. If you have been in a position to substantially pay down the principal balance, you will enjoy a lower monthly payment when the conversion takes place.

We'll be happy to discuss all the details of the Hybrid ARM's with you. They may not be appropriate for everyone but they are worth considering for some!

Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil.  You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.

Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.

The title of this post could be Same Ole, Same Ole. Showing activity in the lower price ranges is brisk but showings above $250,000 are sporadic. Houses listed below that $250,000 price range that are in outstanding condition, like my recent listing on 270 Stoddard's Wharf Road in Gales Ferry, sell very quickly. There are plenty of buyers still hoping to take advantage of the $8000 tax credit.

Listing inventory is slowly creeping up and there are 100 active Ledyard residential listings to report this week. 100 is my barometer of sorts so I'm hoping to see that number go down next week. There were 7 new listings reported and 2 pending sales. There were also 2 closed sales, both under $200,000. (UGH)

There have only been 52 closed sales reported in Ledyard this year.  We have a ways to go before topping last year's number of 143 or the previous year of 213.

For those buyers waiting for lower interest rates, it appears they missed the boat as interest rates, while still historically low at less than 6%, are still higher than they were just a few weeks ago.

  Ledyard Snapshot - June 14, 2009

Number of Ledyard Homes Currently for Sale: 100
Last week there were 97 active listings in Ledyard.

Number of Ledyard Homes Currently Pending:  27

Number of Homes Sold in 2009: 52
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.

The highest priced home to sell in Ledyard in 2009:
$385,000  (The highest price in 2008 was $740,000)

This week's photo is of my newest listing at 25 Richard Road in Gales Ferry.  You can view all my listings at My Listing Website.

I don’t watch much network news so I am obviously a little in the dark when it comes to the changes about to happen as far as dialing in Connecticut. This news kind of snuck up on me.  Let me simply cut to the chase:  Local seven digit calls will soon need to be dialed using the area code.  Bummer.

For all the information about our new dialing procedures, visit the CT Department of Public Utility Website where you can read about overlay area codes and the effective dates of the changes.

For those residents new to Connecticut, you might be interested to know that until 1996 we only had one area code. Fairfield and New Haven Counties were allowed to keep that 203 area code, while the rest of us changed to 860.

It is the oldest collegiate athletic competition in the nation.  Sports Illustrated has called it "the most venerable rivalry in college sports". Little Gales Ferry is home to it all. The Thames (rhymes with James) River has been the location of all but 5 races since 1878.   It will take place this Saturday, June 13th. 

The colleges first raced in 1852, and in 1878 the race was moved to the Thames River.  Both crews maintain camp in Gales Ferry - Harvard at Red Top on Military Highway and Yale at the end of Hurlbutt Road.  In the early 1900's over 100,000 spectators would view the race from yachts and observation trains on both sides of the river.  The glory days of the race are over but it is still well attended each year with plenty of people watching from the shore and from the water.  There are 3 rowing competitions including the varsity race of 4 miles, the longest race in the western hemisphere.

If you search their websites, Harvard calls the race the Harvard-Yale Regatta, while Yale prefers the Yale-Harvard Regatta. Either way, each year, the young men of Harvard and Yale arrive in "the Ferry" just after their final exams.

This year, for the first time in 10 years, the race will be held downstream ending at the Gold Star Bridge.

I’m very protective of my IPhone so when I couldn’t find it yesterday afternoon I had a few moments of panic. It occurred to me that if I called myself I would at least know if it was in the house. When it rang I didn’t immediately find it but could hear it ringing. It turns out it was underneath my cat Molly who was sleeping on my desk.

Maybe she found some sort of IPhone kitty app?

I am a bit of a blogoholic. In addition to this blog, I have a mobile blog, a photo blog, and a blog for my real estate peers. This week I launched a blog for Northwoods of Groton, a 5 lot subdivision I recently listed. As I mention on the site, it is a bit of an experiment and a work in progress. While other agents do visual tours or websites of their subdivisions, I’m trying something different.  Cool, huh?

The Connecticut Housing Financing Authority rates returned to a more normal setting this week. Historically, CHFA makes an effort to keep their rates below the Conventional, VA & FHA rates available in the 30 year fixed rate market.

For the past few weeks the CHFA rate was 4.875% with a 1 point (1%) Origination Fee. Rates for all other mortgage programs were the same or lower. The only real advantage of the CHFA program was that you could also take out a Down payment and Closing Cost Assistance loan in conjunction with the CHFA loan. This allowed for 100% financing for first time buyers.

This week the CHFA rate increased to 5.125% with 1 Point Origination Fee. Meanwhile the Conventional, VA & FHA rates are now hovering around 5.5% with 1 point. CHFA has returned to its usual position of offering below market rates. Along with the $8000 tax credit available to first time homebuyers, CHFA is once again worth looking at if you are in the market for mortgage financing.

CHFA changes their rate at Noon every Thursday. You can provide your e-mail address to CHFA and they will send you their weekly update.

Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil.  You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.

Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.

Things are looking up!  It was a very good week for showings and  deposits. I don't want to jinx the market by saying that I think we've turned the corner but it sure feels that way. Inventory remains under 100 (this is good news). Although there were 7 new listings this week, there were 6 pending sales to report. (More good news).

On to the not so good news. There were two closings reported in the last 7 days, one closed at $210,000 and the other closed at $103,000.  What's missing in Ledyard is move up buyers. I wrote a short post on that subject last week.

Over the past few weeks, I've heard a fair amount of grumbling about Ledyard taxes. With so many homes to chose from, some buyers are simply not looking in Ledyard due to the high taxes. Ledyard's average home sale price is one of the lowest in the area and I can't help but wonder if that statistic is a result of our high taxes.

Ledyard Snapshot - June 7, 2009

Number of Ledyard Homes Currently for Sale: 97
Last week there were 95 active listings in Ledyard.

Number of Ledyard Homes Currently Pending:  28

Number of Homes Sold in 2009: 50
There were 143 residential home sales in Ledyard in 2008.
There were 213 residential home sales in Ledyard in 2007.

The highest priced home to sell in Ledyard in 2009: $385,000
(The highest price in 2008 was $740,000)

This week’s photo is of my newest listing at 276 Stoddard’s Wharf Road. You’ll find all my homes for sale at my listing website.

How’s the market?  I get that question a lot lately. My answer is always the same: It depends. It depends on price range, condition,  location and other variables. Starter houses are selling like crazy and move up properties not so much. It used to be that sellers would sell a house in one part of town like Christy Hill and buy a house in another subdivision like Pheasant Run. It seems that hardly anyone does that anymore. That’s the segment missing in today’s Ledyard Real Estate Market: Sellers in Ledyard becoming move up Buyers in Ledyard. Of course, it’s not just Ledyard. According to the Census Bureau only 11.0 percent of Americans changed residences in 2008. That’s the lowest move rate on record since 1948.

It is fuzzy baby season in Eastern Connecticut. I’ve been seeing baby critters everywhere, including these baby Canadian Geese aka Goslings, I spotted at Lake of Isles Golf Course.  For those new to the Eastern Connecticut Real Estate Blog, you’ll soon learn that Lake of Isles Golf Course is one of my favorite haunts for Eastern Connecticut Photo Friday. 

Many of my clients are sitting on the sideline waiting for mortgage rates to come down to 4.5% with 0 points for a 30 year fixed rate mortgage. In almost 30 years of representing McCue Mortgage Company in Southeastern Connecticut, I have never seen rates and points that low.

This past Monday we were offering 5% with 0 points on a 30 year fixed rate mortgage. By Thursday morning we were offering that same mortgage at 6.125% with 0 points. The bond markets, the source for most mortgage money in the US, were hit hard by rumors that the dept of the US Government was not as good an investment as it had been just one week before. The bond markets were doing much better by the end of the business day on Thursday and by Friday morning our rates had come back down to 5.5% with 0 points on a 30 year fixed rate mortgage.

My advice to all of my clients is to take a good look at the rates in the market and if it makes sense to buy a house or refinance their present mortgage, don't wait for that elusive 4.5% with 0 points to be offered. This past week is an example of how volatile the mortgage rates can be.

Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil.  You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.

Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL.

When I was growing up in the City of Pittsburgh, I took a street car to Sacred Heart High School. I carried my books, my basketball uniform, and my  brown bag lunch. My mother made the most creative lunches including an occasional lunch of stuffed artichokes, one of my favorites. Since that time, I’ve been an artichoke aficionado and I prepare them quite often. The other day, I posted on Facebook that I was steaming artichokes. One of my Facebook friends asked me what I do with whole artichokes.  You’ll find my answer here:  How to cook and eat an artichoke. They do it pretty much the way I do but they don’t taste nearly as good as Mom’s.