Hodson Realty

2011-04-13T12:24:00.000-04:00

Steve Hodson has been chosen by Connecticut Magazine as a 5-Star Real Estate Agent for 2011! This is an extraordinary accomplishment being that ONLY 6% of Connecticut's licensed receive this award this year; this is an Elite Award.

Congratulations Steve! From everyone here at Hodson Realty, Inc.

Spring

2011-04-11T10:10:00.003-04:00

Seems as though the warmer weather in Connecticut has brought out participants in the commercial real estate market. Hot commodities in Fairfield County include small, 2,000 - 5,000 sf professional and medical buildings for owner-users. If the locations are right, these buildings are in demand as a great alternative to leasing.

Happy Holidays

2010-12-14T13:16:00.002-05:00

Happy Holidays to all! To my Jewish friends and associates - a most Happy Channuka.
To my Christian family and friends - A Blessed Christmas. And to any associates who may celebrate Quanza or any other specific holiday - May your celebration be a joy.

Commercial Medical Space

2010-06-28T13:06:00.002-04:00

We have several leases pending with medical professionals who are seeking satellite offices in other communities or are simply expanding their existing space or consolidating their space.

One great option for physicians, dentists and other medical professionals is the medical office
condominium concept. These professional units allow the doctors to own their own unit and gather in a building that has other physicians. The collected occupancy of such medical office condominiums tends to allow for synergies between practices. If the building is newly constructed with a high amount of vacancy a buyer may be able to first acquire a smaller unit and also receive the right of first refusal on some of the adjacent, vacant.

The acquistion of this type of product can lead to an equity build up situation similar to that of owner your own residence. Just be sure that you select the best location for your practice and take into account your plans for future business growth.

Commercial Real Estate Activity

2010-06-22T15:29:00.002-04:00

Leasing activity has increased with several companies seeking field offices in other communities and other companies entertaining start up businesses. Some market segments have grown and these businesses are seeking to expand while reducing their annual rent expense.

Some professionals are seeking purchase properties for owner/user purposes as financing levels are at very reasonably levels for buyers with sterling credit scores and outstanding financials.

Economy

2009-08-04T15:21:00.002-04:00

NAR's economist, Lawrence Yun, states in a recent Realtor Magazine article that,
"It's safe to say we've reached the point where prices are justified by the fundamentals of the economy and may even represent an undervaluation."

I have seen an increase in real estate sales activity in the suburban Bridgeport market as entry level homes appear to be in demand. Buyers are taking advantage of the $8,000 First-Time Home Buyer Tax Credit which Congress approved. The repayment requirement has been eliminated.

New Year's Resolutions

2008-12-29T14:46:00.002-05:00

Time to plan ahead for the New Year. My first tip is to consider refinancing
your mortgages. Interest rates are at an all time low and monies
are available if you have good credit and some equity in your property. Shop the interest
rate with several lenders and consider lowering the term of the note if you want
to work towards paying off the loan sooner than later.

Key Commercial Lease Items

2008-12-16T10:14:00.002-05:00

If you're a tenant renting an entire floor be sure that the common areas within your space are
up to code and comply with ADA. Have your attorney get a copy of the Certificate of Occupancy for your space and be sure to have the local Fire Marshall review the space and facility. Note: the State can override the local fire marshall.

Leasing Tip

2008-12-08T14:19:00.002-05:00

Always attempt to have Exclusive Use for your business when you lease space in a
multi-tenant building. This helps avoid competition and increases your public image
via signage. It can also help with employee retention.

Cost Savings and Leasing Strategies

2008-12-02T16:40:00.002-05:00

One cost saving opportunity for every type of business involves negotiating lease terms.
If your lease is expiring consider renegotiating with your existing landlord or seeking new space.
By downsizing your space requirements you may be able to achieve substantial rent expense savings, especially in this real estate market. Also, if you locate in an area more proximate to management, owners, and/or employees you can also realize a savings on transportation expenses. Be conscious of two expenses in any lease that could be volatile: energy costs and taxes.

Thanksgiving

2008-12-01T10:09:00.002-05:00

What a great holiday. The commercial machines cannot
find a way to spoil the pure family aspect of this day.
There is only so much they can do with a turkey and pilgrim.
Here's to high school football, family, road races, and good food
and lots to be thankful for.

Mortgage Modifications

2008-11-21T10:00:00.002-05:00

Lenders are considering modifying some of their mortgages in light
of the rise in foreclosures and delinquencies. It may be an opportune
time to have a discussion about your mortgage with your lender. It is
incumbant for lenders to keep assets performing and they may be willing
to accomodate customers in light of the present state of the economy.
Especially, loyal customers who can show legimate financial or medical hardship.

Easton, Ct. Home Prices

2008-11-19T10:58:00.002-05:00

During the past 6 months there have been 17 residential sales of 4-BR dwellings in Easton, Ct. per CMLS with an average Sale Price of $695,529 and an average marketing time of 149 days. This is down from an average Sale Price for the 23 sales of 4-BR dwellings for the same 6 month time frame of 2007 where the average price was $783,312 with a 109 day marketing period.
The Average Sale Price of a 3-BR dwelling has fallen from $654,075 (9 sales) to $580,955 (6 sales).

Note: Time frames analyzed: 5/18/2007 - 11/18/2008
& 5/18/2007 - 11/18/2007

Trumbull Real Estate

2008-11-18T13:38:00.002-05:00

Recent CMLS statistics for sales in Trumbull for the past 6 months (2008) indicate an
average sale price of $464,252 (163 transfers) compared to an average sale price of $516,011 (226 sales) for the same 6 month time period in 2007. There are presently 88, three bedroom homes on the market at an average list price of $404,735 as the market begins to get more serious about selling. The average sale price of a 4-BR home is now $597,300. A newer CMLS feature known as ListingBook has become popular with consumers interested in accessing valuable residential home buyer information and statistics. Do not hesitate to contact me to subscribe to this free service.