New Haven County, CT Real Estate News

By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
Happy Mother's Day 2022It’s a simple request and a few choice words will certainly bring joy to their hearts. Mom, Happy Mother’s Day, and I Love you.Mothers nurture, care, love.They feed us, and clothe us, wipe our running noseStay up with us when we are sick.They try to make us good people by teaching us right from wrong.They help us to understand how telling the truth is always the right thing to do.Mothers never judge and always carry hope.Today was a day to pay back just a bit by giving them a special day.I am blessed that my mom, Laura is still able to be at my table at 99 years young. Things aren’t what they used to be but taking care of herself is a plus.Dad passed this past January but Mom is still going strong.Happy Mother's Day 2022
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
What Happened in The Prospect CT Real Estate Market Prospect April 2022?   Prospect CT is a town of App 10,000 residents located in New Haven County. It is bordered by Waterbury, Cheshire, Naugatuck and Bethany.  One noted by Money Magazine as one of the top 300 towns in the Nation, it has since adopted the title of Best small town in CT.It serves as a predominately residential community whose residents commute to the nearby towns.  It has a well recognized Regional school system shared with Beacon Falls CT.  It is also recognized as a well managed town with taxes under control.  Search for homes in Prospect CTCurrently in Prospect CT there are 12 active residential listings for sale, with 8 new listings added in April . The homes for sale in Prospect CT range from a 2,320 square ft, 4-...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
May 2022 Market Trends For Waterbury CT's West End Side, Zip 06708The 06708 Zip code encompasses the west side of Waterbury with 4 neighborhoods known as Brooklyn, Town Plot, Lower and Upper Bunker Hill. It is also the largest zip code in Waterbury. There are currently 21 active listings in the 06708 zip code with the average value of the homes for sale in Waterbury's 06708 zip code available for sale is $275,052 with average days in market of 45. There are also currently 51 properties under show or hard deposit contracts. For the year 2021 year there were 430 closed listings in the 06708 zip code of Waterbury with an average sales price of $225,836 and average days on market of 38. This suggests an absorption rate of 36 sales per month which means the current inventory is less than 1 m...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
What’s My Naugatuck CT Home Worth in March  2022 Naugatuck CT is a town of app 32,000 in New Haven County. It spans the Naugatuck river and its roots go back as a farming community. As the farms began to turn into residential communities, manufacturing took over and the rubber industry was primary with the evolution of the GoodYear Metallic Rubber Shoe Company into US Rubber, which evolved into Uniroyal.  With the decline of manufacturing, the town is primarily a residential community with easy access to New Haven and Bridgeport. Currently in Naugatuck CT there are 20 active residential listings for sale, with 5 new listings being added in March. The homes for sale in Naugatuck CT range from a 728 square ft, 2-bedroom mobile home, listed at $62,900 to a 3,982 square ft, 4-bedroom Victor...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
At the End of The Day We ReflectIdeally every morning starts with a great anticipation of what we will get accomplished through the course of the subsequent hours. Hopefully it is productive and if there are issues, we look for the wisdom and resources to be able to resolve them.We don't know what can transpire within the next few days or even the next hour. but hopefully all our thoughts are a positive.At the End of The Day We Reflect
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
What’s My Cheshire CT Home Worth, Market Statistics for March 2022Cheshire is a town in New Haven County offering a high quality of life. It has a population of app 29,000. It offers an easy commute to New Haven CT of 14 miles; it borders Waterbury CT and is just 25 miles south of Hartford, the state capital. Currently in Cheshire CT there are 41 active residential listings for sale. They range from a 2,028 square ft, 3-bedroom colonial listed at $300,000 to a 3.950 square ft, 5-bedroom new construction cape listed at $1,399,999. The average list price of the homes currently available for sale in Cheshire CT is $720,156. The average days on market for these homes is 54 days. For the month of March, there were 17 new homes listed for sale in Cheshire CT.  Search for Homes in Cheshire CTT...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
Friday Flags in Cheshire CTWhile making a drive through Cheshire CT i was attracted to the activity in front of a local hardware store. All the support posts were adorned with our nation's flag.Hines Hardware has been in business for over 100 years and still offers the same service as was started originally, in 1910.  I know that whenever I need something that they will help me get exactly what I need and always with a smile.Friday Flags in Cheshire CT
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By Green & Sklarz LLC, Connecticut's Firm for Business Law
(Green & Sklarz LLC)
I am an estate administration legal assistant in New Haven, Connecticut, and frequently encounter clients who are in the vulnerable position of just losing loved ones and unfamiliar with the Connecticut probate process. My main objective is to inform clients of the administration process in a straightforward manner. Connecticut has a streamlined process for settling small estates, where the decedent owned less than $40,000.00 in solely owned assets. The process includes filing an affidavit and an estate tax return, and circumvents regular estate proceedings. Thus, the small estate procedure expends less time and funds. This process cannot be used if the decedent possessed solely owned real estate.  With real estate the normal probate procedure is required. If a Connecticut resident died...
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By Green & Sklarz LLC, Connecticut's Firm for Business Law
(Green & Sklarz LLC)
I regularly represent clients in business insolvency and bankruptcy matters in Connecticut. Recently, with the passage of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act on April 1, 2022, conversations among business law and bankruptcy practitioners have again turned to the topic of the cannabis industry. In particular, many are wondering about the future of the nascent cannabis industry here in Connecticut and what effect a reduction of restrictions at the federal level might have on it. In light of these developments and the recent trend of legalizing recreational adult use, many entrepreneurs are also sizing up the market—and rightfully so.While cannabis is now legal in Connecticut for both medical and recreational adult use, cannabis, and certain cannabis-based pro...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
What’s My Wolcott CT Home’s Value March 2022Wolcott CT is a town bordered by Bristol and Southington in Hartford county, and Waterbury in New Haven county. It is primarily a suburban town located 80 miles from New York City with a commute of 20 miles to Hartford and 30 miles to New Haven. Only slightly greater than 50% of the towns land is developed as residential housing and commercial, light industrial businesses.Currently in Wolcott CT there are 18 active residential listings for sale, with 7 new listings being added in March. The homes for sale in Wolcott CT range from a 988 square ft, 3-bedroom ranch listed at $188,100 to a 9,747 square ft, 6-bedroom colonial listed at $1,377,700.  Search for Homes in Wolcott CT The average list price of the homes currently available for sale in Wo...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
Easter Wishes to All 2022For most Christians, today, Easter Sunday is a day of celebration, and all will attend church services as a way of giving thanks. We attended our vigil services Saturday so as to allow my wife time to prepare the dinner we were hosting. The service was well attended and all were happy to wish the greetings for a Happy Eater even if a little early. However you spend the day enjoy with those you are near and give a special thought to those that were not able to be there.  Easter Wishes to All 2022
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
We Finally Felt Enough Warmth to Sprout our ColorsWe have the first of our spring flowers and while they are little later than normal, they are much appreciated and colorful.The daffodils are wonderful for the way they sprout in groups, and even better as they propagate over the summer and come out even more plentiful the following year.Not very far from us I saw a blanket of daffodils on another lawn.  We should be getting more of them over the next few days and shortly after that the tulips will arrive. A great time of year for the colors and the promise of summer to follow.We Finally Felt Enough Warmth to Sprout our Colors
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
What’s My Waterbury CT Home’s Value March 2022Waterbury CT is the second largest town in New Haven County with a population of app115,000. It is 33 miles southwest of Hartford, 25 miles north of New Haven and 77 miles northwest of New York City. The larger factories that once dominated the Connecticut manufacturing economy are no longer in Waterbury, essentially changing form the brass meals they used for raw materials and converting to cheaper and lighter aluminum or plastic. Currently in Waterbury CT there are 63 active residential listings for sale, with 18 new listings being added in March. The homes for sale in Waterbury CT range from a 932 square ft, 2-bedroom ranch listed at $74,900 to a 2,936 square ft, 3-bedroom  colonial listed at $629,900. These listings are within the town z...
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By Green & Sklarz LLC, Connecticut's Firm for Business Law
(Green & Sklarz LLC)
I am a tax attorney who routinely represents taxpayers before the IRS in Connecticut in civil tax matters.  With the increase in online retail businesses, we are seeing a surge of businesses receiving bad 1099Ks under the owner’s social security number rather than the business federal identification number.  This creates a tax problem for the owner, and getting these situations fixed has become routine in our firm. The IRS requires payment settlement entities to report the gross amount of payments received by a U.S. taxpayer when that taxpayer receives more than $20,000 in sales and has over 200 transactions in a year.  A Form 1099K is the information return that is filed with the IRS. Anytime you receive 1099K, it is important to make sure the form belongs to you and has the right soci...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
What Happened in The Prospect CT Real Estate Market Prospect March 2022?   Prospect CT is a town of App 10,000 residents located in New Haven County. It is bordered by Waterbury, Cheshire, Naugatuck and Bethany.  One noted by Money Magazine as one of the top 300 towns in the Nation, it has since adopted the title of Best small town in CT.It serves as a predominately residential community whose residents commute to the nearby towns.  It has a well-recognized Regional school system shared with Beacon Falls CT.  It is also recognized as a well managed town with taxes under control.   Search for homes in Prospect CTCurrently in Prospect CT there are 12 active residential listings for sale, with 7 new listings added in March . The homes for sale in Prospect CT range from a 1,020 square ft, 2...
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By Green & Sklarz LLC, Connecticut's Firm for Business Law
(Green & Sklarz LLC)
I am an estate planning attorney in New Haven, Connecticut. As such, I’m often asked the question, “when should I get an estate plan?” Although estate planning involves much more, the potential client is generally asking the me when they should get a will or trust.  I routinely handle estate planning for clients from different walks and stages of life, and over the years have concluded the answer is this: if you experience (or are about to experience) a significant life change, you should create or consider revising your estate plan. For example, getting married, the birth or adoption of a child, and the passing of a relative are all life events that impact your estate.  Marriage is the perfect time to review or create an estate plan. If it is the first marriage for both spouses, it is ...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
Buyer's Frustrations in Connecticut are UnderstandableSo many buyers are getting frustrated with the current inventory of homes in Connecticut as well as other parts of the country. None of the 'experts' have a clear answer to the urgency to buy other than low interest rates that are starting to creep up and the need for space created by the pandemic.  As the chart below demonstrates, towards the end of 2019 the inventory of homes available for sale through the statewide MLS system was just under a 7-month supply That was clearly a buyer's market, which meant choices and leverage to negotiate a value to a very good purchase.  At the time, the economy was booming along, and it appeared that growth would sustain the flow for a while.And then virus swept the globe. As it was so highly cont...
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By Green & Sklarz LLC, Connecticut's Firm for Business Law
(Green & Sklarz LLC)
The focus of our tax practice is representing taxpayers before the IRS.  An Offer-in-Compromise allows a taxpayer to settle their tax debt for less than the full amount. Although this is one of the most common options for tax resolution it is not always the best route for everyone and there are still a lot of misconceptions regarding Offers. I deal with clients everyday looking to resolve their tax debts through the IRS Offer-in-Compromise program, and below are a few of the most popular urban legends I hear: The IRS never accepts offers There is no way to change the amount of your Offer There is a special “Fresh-Start” program that helps you settle IRS debts The IRS doesn’t care about the current year If you transfer away everything before you submit your Offer it wont be considered as...
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By Ed Silva, Central CT Real Estate Broker Serving all equally
(Mapleridge Realty, CT 203-206-0754 )
It's Just Not Warm Enough to Break ThroughThe calendar shows early April and normally days would be in the high 40's to mid 50's or better. But that is not the case as the cold lingers and the blooms of spring can't come out to shine.These crocuses started to sprout and just seem to have stalled as the sun is just not there to invite them out.Same with these Hiacinth's that are trying to sprout but aren't quite ready to leave the warmth of the ground.It's the same with the daffodils. All dressed up but still too cold to sprout and be appreciated.Hopefully it won't be long, and these purveyors of smiles will get to do their best for us.It's Just Not Warm Enough to Break Through 
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By Green & Sklarz LLC, Connecticut's Firm for Business Law
(Green & Sklarz LLC)
I am a tax attorney who routinely represents taxpayers before the IRS in Connecticut in civil and criminal tax matters.  We routinely handle innocent spouse claims for a spouse (or former spouse) who believes that he or she should not be responsible for a joint tax liability.  Over the years I have heard many so called tax pros provide “advice” to spouses, if you want to call it that, and I thought it might be helpful to clear up the worst of these urban legends.  These include: Just amend the joint tax return to ‘married-filing-separate’ and the liability goes away; If your spouse is responsible for any tax debts in your divorce agreement you are free and clear; and File for innocent spouse relief before the IRS shows up. Now, none of these are true.  You can elect after filing separat...
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