Real Estate

CREA Foundation Creates Two Scholarships, Bonus Opportunities for Real Estate Students

Posted on by Claire Hall

UConn Today – CREA Foundation, Inc. has created two, renewable scholarships for UConn students interested in studying commercial real estate, and they include bonus opportunities to set them up for success.

“We’re excited and eager to partner with CREA to introduce more students to the real estate industry,’’ said David Wharmby, director of the Center for Real Estate and Urban Economic Studies at UConn. “This gift will ensure that they are not just career-ready but have solid work experience in the industry.’’

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Navigating CT spring home sale market this year. What sellers and buyers need to know.

Posted on by Scott Slater III

Hartford Courant – The spring homebuying season — traditionally the busiest of the year — hasn’t made much of an appearance in Connecticut for five years, after a pandemic buying frenzy depleted the stockpile of houses for sale, so much so that it hasn’t built back up.

Few houses on the market are still frustrating both potential buyers and sellers. Buyers have little choice and still encounter stiff competition, with multiple bids. Many would-be sellers worry they won’t be able to find another place to live, so they sit on the sidelines.

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Dean’s Report 2024

Posted on by John Elliott

Deans Report

Sharing Highlights of a Successful, Innovative Year

The 2024 Dean’s Annual Report is just dropping, and I’m excited to share some of the highlights and accomplishments at the School of Business this year.

Throughout our 20-page report, you’ll find articles, photos, employment statistics, and evidence of the boundless enthusiasm of our students, faculty, alumni and staff. Some of you will receive it in the mail, but in the interest of saving trees and reducing cost, it is also available online.

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New Rules Govern Residential Property Sales Beginning in mid-August

Posted on by Scott Slater III

UConn Today – If you’re in the process or buying or selling a home, or think that will be part of your near-future plans, then the recent National Association of Realtors (NAR) settlement has likely caught your attention.

As part of a class-action lawsuit settlement, the NAR agreed to some changes impacting compensation and representation beginning Aug. 17. The sale or purchase of a home is considered one of life’s biggest stressors. Understanding the new opportunities and requirements of the settlement can put real estate clients at ease.

UConn Today interviewed School of Business professor Kristen Haseney, an attorney with extensive experience in the industry. Below she answers questions about what’s new and what to expect.

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What Is the Median Down Payment by State in 2024?

Posted on by Scott Slater III

This Old House asks:
What advice do you have for first-time homebuyers looking to save for a down payment?

Save as much as you can, and if you have the ability to, try to save for paying closing costs, too, Check to see if your state offers a first-time homebuyers savings account program. Some states offer special savings accounts to help first-time homebuyers which may provide a state tax benefit for money deposited up to a certain limit. You will be held to any requirements and restrictions under the program, so be sure to check on what those are first. You can also check with your local Housing Finance Authority to see if they have downpayment assistance or other programs to help you obtain a loan or purchase a home. Both usa.gov and hud.gov have information on homebuying and in particular, resources for first-time homebuyers, including links to resources available by state.

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Homeownership trends: New data shows areas of concerns in CT

Posted on by Scott Slater III

NBC Connecticut – Owning a home is the gateway to the middle class and the traditional path to building wealth and passing it along to one’s children.

NBC Connecticut Investigates wanted a better idea of home ownership trends and crunched some recently released census figures.

For starters, overall home ownership in Connecticut went down in the decade between the 2010 and the 2020 census -anywhere from down roughly 1% in Windham County, to homeownership dropping almost 5% in Fairfield County.

We asked Jeffrey Cohen, UConn Business School professor of real estate, for his take.

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Cuando comprar casa es misión imposible: el tenso mercado inmobiliario

Posted on by Scott Slater III

Telemundo Miami – WASHINGTON DC – Con la tasa hipotecaria a 30 años más alta de las últimas dos décadas, fruto de las subidas de tipos de interés, y con una acuciante falta de oferta, los estadounidenses tienen cada vez más complicado comprar una casa y el número de solicitudes de hipotecas, así como el de compraventas, está bajando y seguirá haciéndolo en los próximos meses.

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Five CT malls have been sold in recent years. Why is there so much change?

Posted on by Scott Slater III

New Canaan Advertiser – Four of Connecticut’s 10 largest shopping malls have sold in the past four-and-half years and a fifth is likely to change hands after being auctioned off this past week.

The recent online auction of the Crystal Mall in Waterford was just the latest shift in ownership of malls around the state. The winning bid was $9.25 million and the listing on Crexi, the commercial real estate platform where the online auction occurred, says the mall has been “sold subject to seller approval,” although the listing does not identify the buyer.

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