Connecticut and Rhode Island Active Adult Real Estate

Interview on Channel 30

Featured Community: Heritage Village, Southbury

Heritage Village:  Southbury's Active Adult community of tasteful condominiums snuggled into the foot hills of the Berkshires.  When turning off Route 6 onto Heritage Road, you will be surprised to come upon one of the first Active Adult Communities on the East Coast, Heritage Village, built on Victor Borge's former estate.  You won't see too many condominiums, although there are 2582 homes, just a peek here and there through the trees and around the ponds.  Not until you get into the residential area of The Village, will you see the tastefully planned condominiums.

The unit designs are many:  One-bedroom Carriage Houses, two-bedroom Heritages and Ethan Allens in 4-plex buildings, two-bedroom Mark Twains, Two-bedroom Hawthorns, Shermans, and attached Country House ranches, the Franklin, Villager, and New Englander townhouses, and the three-bedroom Berkshire ranches.  Most two and three bedroom homes are equipped with two full baths, or at least 1.5 baths in some townhouses.  There are also garages and carports.  All floor plans feel spacious and include decks or patios from which to enjoy the picturesque surroundings.

There is no need to be bored or alone at Heritage Village with 96 clubs and workshops to keep you busy.  Or, you can just curl up with a good book and enjoy the view from your condo home.  There are garden plots, a magnificently equipped wood working barn and a model shop, photo lab, pottery workshop, stained glass studio, computer lab, a gym, just to name a few options.  In the summer you can enjoy the four pools, three of which are heated.  Golf on the nearby 9 or 18 hole course, challenge a friend to tennis at the Village, or take a walk on the many paths winding around ponds and wooded settings.  However, if you are partial to peace and quiet, this is a community where neighbors respect each other's tranquility.

Do you like to travel?  Heritage Village sponsors tours throughout Connecticut to NYC, Cape Cod, USA, and the world, by plane, boat or bus -- for a few hours, a few days, or several days.  Bradley Airport and Stewart Airport are approximately 1.25 hours from your dooor.  A Bonanza bus leaves Southbury's Travel Center for Manhattan each hour.

For further information, contact JoAnn Lambert Bredenberg at (203) 232-9452 (cell), or (203) 262-5230 (office) or e-mail her at www.JoannBredenberg@Prudentialct.com.

How to Choose A Builder: Part 2

There are some important questions that we should explore when we make the decision to purchase a home. This is the second part of a 2-part series contributed by Robert (Bob) Fusari, Sr., President and co-owner of Real Estate Service of Connecticut (RESC). Bob has been involved in residential construction and development for over 52 years, building custom single family homes, subdivisions, condominiums and apartments numbering in the thousands. He has built individual communities as small as 10 homes to communities over 3500 homes. Bob is actively involved in the Connecticut Home Builders Association, and was chosen builder of the year in 1995. He is a Director and currently Chairman of the Middlesex County Chamber of Commerce. We are pleased to present Bob's insights into how we can make a wise decisions when purchasing a home.

Part 2:  HOW TO CHOOSE A BUILDER

DO YOU NEED AN ARCHITECT?

For most single family construction, you do not need an architect.  There are a number of good home designers who are not licensed architects that specialize in cost-effective design.  An experienced builder is a good source of design information and house plans.  Whether an architect, designer, or builder, they should challenge your wishes and test your assumptions.  How thoroughly you did your homework (see Part I) will have a direct effect on the final result of your house plan -- AND the only way you will get a handle on the final cost.

SHOPPING FOR A BUILDER 

The first step is fairly simple when it comes time to shop for a builder - it is not different than shopping for any other big ticket item:  Ask everyone you know (friends, relatives, co-workers) who they would recommend and why.  Looking at newspaper ads, and signs at homes that are currently under construction will give you an idea of who is working in the community that you are considering.  Most community officials will have a general knowledge of who is reputable - building inspectors, Chamber of Commerce, Home Builders Association, and the Better Business Bureau.  Also, you can contact prior customers - ask if they would recommend the builder that they used, and why, or why not.  (The Assessors Office at the local Town Hall will have information on title transfers, many times naming the builder and the new homeowner.)

When you have a list of prospective builder candidates, first check his experience, and ask how long he has been in business.  Visit a current job site...what impression does it give?  Does it look organized?  Depending on the type of home construction you are considering, you should ask if your builder specializes...in custom homes, track homes, modular homes, etc.  Is he a volume builder, and does he build only certain types of designs?  Also consider the size of the builder's company - ask if he has the capacity to handle your job.  It is good to ask who will be assigned to your new home to work on it -- you may wish to meet with that person, if it is not the builder himself.  Ask how long it will take to build your new home; when will construction begin; what is the construction schedule; and when is the expected close date.  Be sure to ask about your responsibilities in the process:  when do you need to make selection decisions to keep construction on schedule?

Ask how much other work the builder is doing:  someone who is busy is an indication of success, yet, conversely, he may be too busy to give personal attention to your new home construction.  Lastly, and importantly, you must assess the builder's financial stability.  Sometimes this is a hard question to answer, but it must be investigated.  You may ask for bank contacts, attorneys, suppliers, and also check lawsuits, liens, etc.  It is important to find out how the builder wants to get paid.  Does he want progress payments, or an initial down payment, with the balance due upon completion?

PLANS, SPECIFICATIONS, CONTRACTS & CHANGE ORDERS

When working with your builder it is important to be very specific and complete about your wishes.  Avoid "allowances" whenever possible.  A builder may want to make allowances for anything from removal of ledge to kitchen appliances.  While it is many times not possible to know how much ledge a builder may unearth (although a reasonable guesstimate is possible through testing), you can know and choose which appliances you want in the kitchen, for example.

Living in New England, we know lots about the beauty of rocks.  However, we may not want a large boulder left on our front lawn.  Know up front what happens with ledge, and any unearthed large boulders. Will the builder be charging so much per cubic yard of blasting, including off-site disposal if necessary?  Also it is important to know about well-depth septic systems, and underground water conditions.  If your builder is not assuming responsibility for all of these items, get a list of unit costs for each possible extra cost item.

Insist on a written change order procedure in your contract.  Change orders should be as complete and specific as the original contract.  It should address when you pay for extras and changes.

YOUR ROLE DURING CONSTRUCTION

Don't be afraid to inspect regularly, but don't be a pest.  Deal only with your general contractor or builder.  Do not address issues that should be discussed with the builder with the sub contractors (unless the builder directs you to do so).  Ask questions when you are not sure of something, but avoid accusations.  It is important on both sides to maintain a good working relationship with your builder and resolve differences promptly and in a professional manner. An attitude of distrust will lead to a strained relationship and less than expected results.  For clarity and for the sake of the professional relationship, always put important matters in writing, particularly in the initial contract.

It is important to clarify the role of the Building Inspector.  He is concerned with health, safety and code issues; he will not insure complete compliance with your plans and specifications.  Therefore, do not expect the building inspector to be your personal watch dog. 

WARRANTIES AND SERVICE

Insist that the Warranty and the Service Policy and Procedures be in writing.  Read them and understand them before signing a contract.  Ask the builder if he will have final inspection prior to closing or the last progress payment.

COMMUNICATION AND TRUST

In conclusion, keeping the lines of communication between you and your builder open in both directions adds much to insure a smooth construction process.  Confirm all agreements in writing promptly.  If you have done your homework thoroughly, you should be able to trust your builder to honor his commitment to you.

How to Choose A Builder: Questions to ask

There are some important questions that we should explore when we make the decision to purchase a home.  This is the first part of a 2-part series contributed by Robert (Bob) Fusari, Sr., President and co-owner of Real Estate Service of Connecticut (RESC).  Bob has been involved in residential construction and development for over 52 years, building custom single family homes, subdivisions, condominiums and apartments numbering in the thousands.  He has built individual communities as small as 10 homes to communities over 3500 homes.  Bob is actively involved in the Connecticut Home Builders Association, and was chosen builder of the year in 1995.  He is a director and currently Chairman of the Middlesex County Chamber of Commerce.  We are pleased to present Bob's insights into how we can make a wise decisions when purchasing a home.

Part 1:  New Or Used

The most important question to ask when deciding to purchase a home is:

"Do I want a new home, or a previously lived-in home?"  Either choice has advantages and some disadvantages.  With a previously lived-in home, I can move in right away.  However, the unknowns that perhaps weren't obvious at inspection time may soon surface, and can cause aggravation forever after.  Conversely, when purchasing a new home, even though some problems may surface, they most likely will be remedied by the builder, and I can enjoy my home with some certainty of what I have purchased.

"How important is technology to me?" With a previously owned home, I will be buying yesterday's technology, along with a shorter life left in some of the important systems in the home.  Roofing and mechanical systems may have some useful life remaining, but chances are they will not have the same useful life as the systems in new construction.  Also, the technology in newer home systems may be very different from an older system.

"How important is design to me?"  When purchasing a previously owned home, I am purchasing someone else's dream home, and the design and layout may not be optimal for me.  When I purchase a new home, the home will be my own and designed close to my own specific needs.

If, based on your answers to these questions, you decide to purchase a newly constructed home, it is important to know the differences between the two basic buyer/builder arrangements.  They are 1)  You can purchase a lot and hire a general contractor to oversee building your home; or 2) You contract to buy the entire house and lot package from a builder/developer. This is called the "turn-key" method.

The general contract choice may, at first, appear lest costly.  However, you could intentionally or intentionally be assuming the role of "general contractor" with all of the associated risks and responsibilities.  It will be your own money that is tied up in the purchasing the lot, and you will probably be responsible for the construction loan, including points, legal fees and interest.  Also, since you are the property owner, you may also be assuming certain risks during construction that are generally associated with the general contractor, including: builder's liability, workman's compensation, compliance with OSHA regulations, exposure to mechanics liens,and producing a lien waiver at mortgage closing.

When purchasing a home under a turn-key arrangement, you will not actually own the property until the home is finished, thereby minimizing your risks.  And, you will be better able to establish your final cost up-front.

The bottom line is that it is important to do your homework.

Knowing where do you want to live, or location, is the starting point.  Make a list of towns you are considering and list the positive and negative aspects of living in each of those towns.

Think about what features are important to you in owning a home, write them down, then prioritize your wish list.  Generally the size of your wallet will help determine the general size of a home and the amenities that you will choose.  Include your preferences on number of bedrooms, baths, and kitchen features.  Does your dream home include a home theater, and high tech wiring?  Computer simulations, plan books, design centers, model homes, and Internet searches can help you refine your list.

Decide the style you prefer: traditional, contemporary, Victorian, ranch, raised ranch, cape, colonial, etc.

How important is re-saleability to you?  It is important to keep in mind that features that appeal to you may not appeal to others.  Consider whether the feature that you desire can be easily removed or changed to fit someone else's taste.

....coming next week:  "Do I really need an architect?" and "What should I look for in a builder."

North Cove Crossing, Old Saybrook Connecticut

If you would like to come home to a serene shoreline setting with views of North Cove and passing sailboats, then this newer 55+ community of North Cove Crossing may be just for you.

Located in a convenient in-town Old Saybrook neighborhood, the community of North Cove Crossing features sixteen detached condominiums in an attractive 55 plus community. Walk to the picturesque Main Street to enjoy such events as the popular torchlight parade or annual art show on the green.

Old Saybrook is rich in history and seafaring tradition. One of the first settlements in Connecticut, this quaint, small town is located where the Connecticut River meets Long Island Sound. Enjoy wonderful shops and restaurants in town or travel conveniently to New York, Boston, or Hartford via rail or highway for work or pleasure.

Currently on the market is a less than two year old, pristine 2700 square foot home that is attractively designed and decorated with a sought after first floor bedroom and bath allowing the ease of one level living. An additional bedroom and bath are located on the second floor, along with a finished bonus room. Other features include central air, security system, surround sound, two car attached garage, fireplace, screened porch, first floor laundry, maple floors, three zone natural gas heat, island kitchen with granite and stainless steel appliances, glazed maple cabinets in kitchen and bathrooms, built-in bookcases and community pool.

If you are searching for a 55 + shoreline lifestyle that affords you flexibility without the worry of exterior maintenance or remodeling, you will love to call this elegant property your home.

For more detailed information on North Cove Crossing, or information on other 55+ shoreline communities, contact Sandy Orsie at Prudential CT Realty at (860) 388-3411 X126, or her direct line: (860) 661-3026; E-mail:SOrsie@Snet.net

FEATURE COMMUNITY: Oxbow Ridge, Canton, CT

Oxbow Ridge

Canton, CT

Contributed by Janet Clarke, Sales Executive

Prudential Connecticut Realty

*Travel Time from Oxbow Ridge:

Airport:  Bradley International, 40 minutes, 19 miles

New York City: 3 hours

Boston: 2 hours

*Number of Units: 96 (34 free standing homes and 62 attached townhouse style homes).  Homes are tiered up the mountain and most have views.

*Year Built:  2003-2006

*Size of Homes: 1800-2400 sq. ft.

*Price:  Free standing homes: $350,000 up; Town HOMES $290,000 up

*Association Fee: $200-$250 per month

*Built by national builder, Pulte Homes.  Many owners enjoy the design features that have been implemented by Pulte homes (1st fl. bedrooms, open floor plans).

*Population: approximately 9,500

Utilities:  gas heat with central air, public water and sewer, gas fireplaces were optional with construction.

*Hospitals/Health Care:  UConn Health Center, Farmington; Hartford Hospital, Hartford; Avon Wellness Center, Avon; Avon Medical Clinic

Shopping:  The Shoppes at Farmington Valley, Canton; Simsbury Commons, Simsbury; West Farms Mall, Farmington

*Health Clubs: State of the Art Health and Fitness Club, Avon; Wellness Center, Avon

*Historic downtown:  Collinsville (a quaint little town with small shops and antique shopping.  Walking trails, The Farmington Greenway bike trail, and canoe and kayak rentals along the Farmington River are all part of the outdoor activities easily accessible from Oxbow Ridge.

Kathy, the former First Selectman of the Town of Canton has chosen to purchase in Oxbow Ridge and has indicated that she is very happy there.  She enjoys the maintenance free living style as well as the proximity to shopping, churches, library, community center and walking trails.  Kathy feels there is a "sense of community, great neighbors and wonderful camaraderie."

Ann and Joe, snowbirds spending half of their time in Florida, recently relocated to Oxbow Ridge in order  to be closer to their grandchildren.  Ann said she really loves her home at Oxbow Ridge.  "We consider it a very safe community and feel comfortable leaving it while we are gone for the winter."  Ann and Joe enjoy "game night" every Wednesday.  Each week they play something different.  Ann and Joe said that they have made many new friends. 

Although this community is an Active Adult Community (for folks aged 55+), the Association allows up to 20% of the owners to be younger than age 55, with board approval.

Other community features: there are concrete walkways and irrigation systems in the front lawn of each home.  The majority of the residences previously lived in the local community, and they recognize that Oxbow Ridge is in a great location and a quality home.

For further information on Oxbow Ridge, or other properties in the Farmington Valley, contact Janet Clarke at 860-508-3455, or 860-676-3967.  You can also e-mail her at JClarke@Prudentialct.com

FEATURE COMMUNITY: HUNT GLEN, Granby, CT

Directions:  Route 10 N. behind Stop & Shop

Number of Units:  69

Age of Community:  4 years

Sq. ft. Range:  1441-2100

Today's typical price range:  Low-mid $300,000's

Ask anyone who lives at Hunt Glen in Granby, CT what they like best about the community, and the answer is unanimously, "The sense of community."  Although most homeowners in this well-maintained community are still working, it is a neighborhood where people look out for one another, and meet regularly at their lively clubhouse for social activities.  Within walking distance to the local Stop & Shop, a bank, several eateries, and dry cleaner, homeowner Rose Marie never worries about battling traffic or bad weather to do her daily errands.  She loves the convenience of having everything close by.  A very active couple, homeowners Maureen and Dick use the local YMCA, go X-country skiing in the McClean Game Refuge, walk on the Hunt Glen walking trails, and bike on the Farmington Valley Greenway, all within minutes of their home.  Maureen indicated that she has persuaded some of her friends to move into her new neighborhood.

The architecture of the homes has been referred to as "very comfortable" by many homeowners.  Comprised of a mixture of single-family detached and duplex ranch-style homes, the designs are all, as Maureen calls it, "user-friendly" with no logistical issues.  She calls her own duplex home, a "big, sturdy house", and even though it is a duplex, she never hears any noise.  Becky, the Vice Chair of the Board of Director's commented, "Everyone is very happy here.  We have meetings and parties at the clubhouse with ease, which is very unifying, especially during the winter months." 

Featured by Maureen Brubaker, Active Adult Lifestyle Specialist

Prudential Connecticut Realty

(860) 571-6690, or mbrubaker@prudentialct.com

FEATURE COMMUNITY: SILVERBROOK ESTATES, Orange, Connecticut

                         Silverbrook Estates, located in Orange, CT, is an adult complex of 57 units for people aged 62 and over.  It is situated in a rural wooded setting just minutes from shopping, restaurants, medical facilities and easy access to major highways.  This well maintained complex was built in 1998 and consists of detached housing and duplex units.  All units have a one or two-car garage, full basement, and private patio with French doors.  Amenities include gas heat, central air, some hardwood flooring, and kitchens with appliances and spacious closets.  Units range in size from approximately 1050 sq. ft. to 2275 sq. ft.; some have lofts or second floors and finished basements.  They have reasonable association fees and taxes. 

Orange offers a wide range of community services.  I encourage you to visit the Orange, Connecticut website at http://www.orange-ct.gov/ to learn more about the community.

Related Information:

Orange, CT  Demographics:  Population 12,500

Hospitals/Health Care:  Yale New Haven Hospital, St. Raphael Health System Milford Hospital

Shopping:  Village Shops, Boutiques, Westfield Shopping Mall

Travel Times:  Bradley International Airport: 90 min; Hartford: 75 min.; New Haven: 15 min.; New Haven: 15 min., New York Airports: 135 min., New York City: 120 min., White Plains: 95 min.

Utilities:  Regional Water Authority, Southern Connecticut Gas, United Illuminating, Cablevision

Transportation: CT Transit System, Metro North Commuter Train Service, Amtrak

For Further Information on Silverbrook Estates, or for further information on Orange Connecticut, contact

David W. Hawes, Senior Real Estate Specialist

Prudential CT Realty

(203) 773-5129

DaveHawes@Prudentialct.com

Health Savings Accounts: Saving for Your Future Health and Wealth

By Suzanne Hard and Eric Hard

Recent changes in federal law make a Health Savings Account (HSA) an increasingly useful financial tool.  HSAs were created in December, 2003, when Congress passed the Medicare Prescription Drug Law.  As part of the legislation, Congress allowed the creation of savings accounts free from federal taxation that may be used to cover medical expenses.  Most states also give HSAs this tax-free treatment.

Heath Savings Accounts are a available to individuals and families who have a qualifying High Deductible Health Plan (HDHP).  To quality, the HDHP must have a reasonable cap on out-of-pocket expenses -- a maximum of $5,500 for individuals and $11,000 for families. The HSA is then established as an account that is owned by the employee.  Contributions may come from the employer, the employee, or from a third party.  HSAs allow the payment of health care expenses with pre-tax dollars; contributions are not included in taxable income.  Better yet, money in the account then grows tax-free.  No taxes are paid when the money is used for medical expenses.  After age 65, the money may be withdrawn for any purpose, tax-free.

This year, Congress increased the amount that an individual may save in an HSA to $2,850, and the amount that a family may save to $5,650.  In addition there is a catch-up provision for HSA holders ages 55 and older:  They are allowed to deposit an additional $800 this year.  Next year this additional catch-up amount is $900; and, in 2009, it increases to $1,000.

Health Savings Accounts have many useful features.  Unlike a Flexible Spending Account (FSA), in which contributions are made tax-free for certain kinds of expenses, the money remaining in an HSA may be carried over from year to year.  By contrast, FSAs have a use-it-or-lose-it feature, in which the money mulst be used in the calendar year in which the contributions were made.  Consumers will be pleased to note, however, that money from FSAs may be rolled over into an HSA, avoiding the loss of unspent contributions.

Health Savings Accounts are owned by the employee and may be carried form job to job.  The money may be used to meet the deductible component of the required HDHP and the remainder for uncovered medical expenses.  It may be used to pay for dental care, eye care, eyeglasses, contact lenses, physical therapy and chiropractic care.  However, it may not be used for cosmetic surgery, hair transplants, teeth whitening, or over-the-counter medications.

While Health Savings Accounts do offer tax benefits to their owners, they are not without flaws.  It can be very difficult for employees to fund their HSA.  In addition, employees must take extra time to pay their medical bills, and they must monitor their account, making sure they do not over contribute.  Looking at the big picture, it has been estimated that an individual will need $600,000 to cover medical expenses in retirement.  Even if a person saves $2,650 each year and does not use any of it, after 20 years the account would only amount to roughly 25 percent of what is needed.

The Health Savings Account, as currently structured, may be a useful financial tool, but it will likely play only a minor role in financing medical expenses in retirement.  There has been some effort on the part of the current administration to significantly increase contribution limits.  The government clearly wishes to encourage individual savings to provide resources for medical expenses as more consumers reach retirement age.  As it continues to evolve, this is an area of law that should pay dividends to consumers who keep themselves informed.

Suzanne Hard is a lawyer residing in Avon, CT.  Eric Hard is an attorney with the Law Firm of Cohen, Burns, Hard and Paul in West Hartford, CT.  Eric and Suzanne may be contacted at ehard@cbhplaw.com, or at 860-561-4961.  Copyright 2007 by Suzanne and Eric Hard.  All rights reserved.

Get a CLUE Report

by Robert Reade

Connecticut Insurance Services

As a home seller you want to make sure that your home is as appealing as possible to potential buyers.  You will make minor repairs, fix up the flowerbeds and clean the home from top to bottom.  With all this activity do not forget to get a copy of a C.L.U.E report. 

As a home buyer, you want to make sure that the house you have decided to make a home of, you want to feel comfortable that the home’s past will not come back to haunt you in the form of higher premiums on your homeowner’s insurance.

C.L.U.E. stands for Comprehensive Loss Underwriting Exchange, which is a database featuring loss information submitted by insurance companies.  A C.L.U.E. report provides a five-year history of losses that have been filed against insurance policies covering a specific property.

            There are two major property claim databases, CLUE and A-PLUS (Automated Property Loss Underwriting System).  Property claim databases enable insurers to check the claim history of both the homeowner and the property that the homeowner is purchasing.

            Many people may be more familiar with the Automobile form of a CLUE report, which is popularly, know as a CARFAX report.  This report reflects damages that the car has been involved in, normally reported just through personal lines insurance companies.

            CLUE reports are playing an important role in the real estate transaction. In several states, realtors complained the deals were falling through because insurers were canceling new policies after examining claims information.  It is not only the home that is being purchased that is checked.  The new homebuyer needs to be aware of their CLUE history as well, for claims that they may have made in the past five years could now allow their current insurance company the legal right to not issue a policy on the new property.  In ordering a CLUE report, the consumer can order a report on his or her own address and/or an insurance agent can order a report on the property that is looking to be insured as well as on the person that is purchasing the property. 

            I, as an insurance agent, have been informing realtors as well as clients of the need to know the claims history of a property that they will be listing or representing to a buyer.  On the listing side, having the homeowner order a clue shall serve two purposes:

First it will allow the potential buyers to know, in advance, if there will be any insurance claim issues that could impact the premium cost of insurance negatively, it is a great sales tool to present at open houses.  Second, for the realtor, knowledge is power.  Knowing what the claim history is on a property shall allow the realtor to know in advance if there could be issues that would cause the house to be uninsurable or that could cause the potential buyer to back out of the deal.  Knowing what the claim was: water damage, fire, burglary, lighting and liability, will allow the seller to explain what was done to mitigate any future claims.

            Most importantly to realize is CLUE reports are being used and that locating competitive insurance rates could be jeopardized if there are multiple claims.  You, as a consumer, need to start on the insurance purchasing selection as early as possible in the home buying process.

Robert S. Reade, LUTCF

Connecticut Insurance Services

860-571-7084, 860-300-2596

45 Church Street

Stamford, CT  06906

203-967-9647