Open House

Judy Mitchell

Photographs: Open House Courtesy of WPSIR

​Millenials who have been renting in Harbor Point and downtown are beginning to show interest in putting down roots, says realtor Judy Mitchell of William Pitt Sotheby’s International Realty. This would not only be a boon for the Stamford market, but bodes well for the continued growth of the city at a time when other state urban areas are seeing population declines. In response to this shift, Mitchell, in partnership with BLT, the Harbor Point developer, hosted a first-time Home Buyers Event at Juliska, where attendees met a panel of experts who answered questions about mortgages, property inspection, real estate law, insurance, decorating and more.

As event goers enjoyed cocktails, Mitchell also delivered a presentation highlighting important questions to mull over when considering home ownership.

Photographs: Open House Courtesy of WPSIR

Newfield home listed at $649k.
With 20 percent down, monthly mortgage payments come to about $2,700

Payments for this $359k Glenbrook home would be less than $2,000 a month
Five important points to think about before making an offer

Ask yourself: Do you want more space, to build wealth and be your own boss? Are you ready to make the commitment to maintenance? These are critical questions to think about.

Are your jobs stable? Do you have good credit? Have you saved for a down payment?

Know your debt versus income, credit score, immediate expenses and loans, and future plans, whether a big trip or grad school.

It takes a village. You’ll need a realtor representing you—not the seller—a mortgage broker, an attorney, a home inspector and an interior designer. You can try to do it all yourself, or online, but you still need the professionals.

Assuming 20 percent down up-front, Mitchell illustrated how to calculate monthly mortgage payments based on listing prices. “Their faces lit up with this information. They pay much more in rent!”



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