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HOME JANUARY 2009

HERSAM ACORN NEWSPAPERS

Make It A Stylish New Year Small Bucks, Big Change

Getting A Mortgage

Cover photo: David Ames

Money Still Available

Special Section to: The Valley Gazette

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The Stratford Star

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The Milford Mirror

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The Amity Observer

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• January 15, 2009 •

Hersam Acorn Newspapers •

When it’s a dream house ... Anything’s possible

by Joanne Greco Rochman Dream homes are a special breed of housing. Apparently there’s no extreme when it comes to planning, building or purchasing such homes. For years, my friend’s story held the record for going to extremes when it comes to getting that “dream house.” She and her husband had bought a new house, signed all the papers and had the movers unpack and set up all 12 rooms. They hadn’t even settled in when the most amazing thing happened. The day after moving in, my friend was exploring her new surroundings. That’s when she discovered the house of her dreams — two blocks away. With the help of the bank, Realtor and movers, she packed up and moved again.

Michael Tarentino found his dream-house-to-be on the Fort Trumbull/Silver Sands Beach in Milford. The renovation that ensued is a tale in itself, but the ﬁnal result is a dream of a house with water views from most windows and a kitchen that would turn the head of any chef. With a deck overlooking the beach, lots of sun, fun and surf await family and friends.

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Hersam Acorn Newspapers •

Getting a mortgage today STANDARDS HAVE TIGHTENED, BUT MONEY IS STILL OUT THERE by Jane K. Dove Today’s real estate market is “a perfect storm” for would-be homebuyers. Declining prices, eager sellers, a wealth of inventory, and low mortgage interest rates all contribute. But many buyers believe getting a mortgage is an impossible task.

Within two weeks she had lived in two new houses. She explained. “Life is short. How could we possibly pass up a dream come true?” It cost her plenty, but she and her family couldn’t be happier. For years, her story held the record of going to extremes for the proverbial “dream house.” Now that record has been broken. I just learned the story of Michael and Alexandra Tarantino’s dream house in Milford. Michael found his dream house on the Fort Trumbull/Silver Sands Beach, one of the most beautiful beaches in Milford. In the real estate business for 20 years, this longtime Milford man knows a good thing when he sees it. The house was fine as it was, but he figured they’d do some renovating to create their ultimate dream house. They tore out the kitchen and built a new one. They did the same with the master bathroom. Then, hardwood floors were installed throughout the house, new insulation was

put in and new electrical work was installed. The house took on a whole new look. There was just one problem. It was still not the dream house they had envisioned. So they decided to tear the whole thing down and start from scratch. “We raised the house, lowered it, and then raised it again,” said Michael with a laugh. “The contractor lifted the house right off the foundation. At first we thought we would work from the bottom up by putting in a new foundation, but we ultimately decided against doing that. So we kept the foundation, dropped the house and had it dismantled by hand!” Meanwhile, the Tarantinos and their four children lived in a house next door while their dream home was redesigned and rebuilt. “We created our own layout, and then hired an architect to design the house to spec,” Michael said. Essentially, they gutted everything they’d done and added a third floor. “A

“Not so,” says Terry Hastings, president of Hamilton Mortgage of Ridgefield. “Lenders have returned to ‘pre-boom’ standards, but mortgage money is out there for qualified buyers.”

major consideration in doing all this was the growing size of our family,” he said.

This is despite the fact that a mini-tsunami of change has overtaken the lending industry, sweeping away many of the lax underwriting practices and “exotic” products available during the real estate boom years.

Before the extreme teardown, the house had three small bedrooms with a bath and a half. Now the house has four large bedrooms and three and a half baths. There are all kinds of custom features in this glorious home. For instance, the Tarantinos enjoy entertaining, so they built a butler’s pantry off the kitchen, which has a refrigerator, freezer, sink, cabinets, and an ice-maker. Add to this another refrigerator and freezer in the wide-open kitchen, which features a 14-foot island, three dishwashers, two sinks, eight-burner gas stove, built-in warming trays, built-in wine refrigerator, built-in microwave, and a fireplace.

Tighter Standards “I work with 55 different banks and lenders to obtain mortgage financing for my clients,” Terry says. “Today, most require two years of income tax returns, your last two months of bank statements, recent pay stubs, 20% down, and a credit score of over 680. This is a big change from just a year or two ago.”

The master bedroom suite includes double sinks, a six-foot glass-enclosed shower with steam unit, oversized whirlpool tub, granite

Terry says about 80% of lenders have gone back to the old “show me your paperwork” lending standards.

Mortgage continued on page 5

Dream continued on page 7

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• January 15, 2009 •

Hersam Acorn Newspapers •

After Updating the look and style of furniture and accessories that are in good condition has become a cost-effective and creative way to inject a fresh, new look.

Small bucks, big change Before

WELCOME THE NEW YEAR IN STYLE by Patti Stern

way to inject a fresh, new look. Now is the perfect time to bring in the dramatic warm colors of winter — ruby reds, golden yellows, warm greens — or go more modern with cool blues, grays and even silver.

begin any home-decorating project. If you can’t afford gutting and completely remodeling your kitchen with new cabinetry — often the most expensive item in a new kitchen — consider painting cabinets if they’re in good condition.

‘Repurposing’ Home Furnishings

At PJ & Company Home Styling LLC, a Connecticut home-decorating and -staging firm, we recommend prioritizing your decorating needs and looking to nature for inspiration. What I tell my clients is to start with the room they use most — whether it’s the kitchen, family room or office — so they don’t get overwhelmed by cost and the task at hand.

Updating the look and style of furniture and accessories that are in good condition has become a cost-effective and creative

Start out by creating a budget. The most important thing is to know exactly how much you have to spend before you

Recently, a kitchen makeover for one of our clients was incredibly cost-effective. The homeowner didn’t want to spend a fortune remodeling her outdated, late 1980s kitchen because it was still in good shape, and she had two children getting ready for college. Repurposing what she had was easy and included the following: painting versus adding new cabinetry, dressing up the kitchen island with furniture legs and beadboard trim for a more modern, sophisticated look, and investing in granite to give the kitchen greater style and function.

While today’s tough economic times are sweeping the nation, homeowners continue to look for ways to add style and refresh their home décor in the new year, without spending a fortune. Decorating can be intimidating and seemingly costly to many, but if you take it room by room and assess the way your family lives and your own personal style, you can update that outdated family room with simple, cost-effective changes.

�� “THE TOTAL SERVICE HOME CENTER” � � ��

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• January 15, 2009 •

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Hersam Acorn Newspapers •

Mortgage continued from page 3 Low Rates But although standards are tougher, the current low interest rates could finally breathe life back into the housing market. “As of December, interest rates were about 5% for a conventional 30-year, fixedrate mortgage, and just above 6% for a “jumbo,” he says. “These rates are historically low and should attract buyers back into the market.”

After A kitchen is updated without breaking the budget.

Repurpose To Save Money, Add Style

from the painting or the rug and add the color to walls and accessories.

Take stock of what you have, what’s in good condition and what you love. If you’re considering updating your master bedroom and love your bedroom chair, reupholster it with new fabric (often cheaper than buying new) and tie in the color theme with the rest of the room, including wall paint and bedding. Update a brass chandelier with silver spray paint or add colorful lamp shades for a complete redesign at much less expense

For another client, we created a built-in bookcase with a window seat that showcased a number of antique items she had collected since she was a little girl. Among them was her grandparents’ marriage certificate from the late 1800s. I designed the living-room décor around this showpiece.

Terry says buyers need to overcome “the fear factor” when contemplating buying a home. “It’s true that we are not seeing the enormous home-price appreciation that took place from 2002 to 2006, but that does not mean that your home will not gain in value over the next several years,” he says. He cites a condominium unit in Casagmo in Ridgefield that sold for $124,000 in 1987, the year the previous real-estate downturn got underway. “The owner sold the unit for $75,000 in the early 1990s,” he says. “At the height of the boom, it was worth about $240,000. The latest appraisal was for $190,000, still well above the original purchase price.” Big Gains Now On Hold

Look to nature for Inspiration. When I think of the New Year, I think of warm, inviting colors with a touch of sparkle. “I’ll shop local lighting stores to add new, inexpensive shades to some of my lamps and chandeliers that might include Before beading for that added sparkle. But I’ll also look for warm fabrics like velvet, chenille and even fake fur for throws or as pillows Creating a warm and welcoming look for the new year can be done without spendfor seating. ing a fortune. So take stock of what you Your own backyard can provide the perfect have and love that can be repurposed and accessories for a winter centerpiece. Look refreshed for a whole new look and style. for pinecones, berries and other winter All it takes is a little thought and creativfoliage that may be collected and arranged ity. in a glass bowl for a beautiful and colorful decorative centerpiece. Pinecones can also PJ & Company Home Styling LLC offers inserve as great place card holders when home design service and provides homehosting dinner parties, adding a natural staging services to homeowners, Realtors and builders. and inexpensive touch to the festivities.

Terry says today’s homebuyers have to abandon the idea that the value of their homes is going to increase by double-digits, year after year. Many financial experts say such a phenomenon may never happen again. Therefore, homebuyers should take a longer view and see their homes as places to live, rather than a piggy bank or investment that is going to yield a quick return. Historically, home prices have gone up along with the rate of inflation, something in the neighborhood of 4% to 5% a year. Terry says this pattern will probably reassert itself. “Along with huge year-over-year

price gains, the ‘flipping’ era is definitely over and done with for now,” he says. “The mortgage products that made flipping possible are not out there. Non-traditional mortgage products such as no-moneydown and interest-only have largely faded from the scene. Even in special circumstances, lenders want a down payment of at least 3%.” “Negative amortization mortgages are dead, as they should be. No- documentation mortgages are very limited, but a few are still available to some customers.” Overcome Buying Jitters Terry says most buyers in our area will be able to obtain a mortgage and should not be reluctant to buy. “Everything is now in their favor,” he says. “Most people I deal with are gainfully employed, have good credit, a down payment, and are financially stable. The decision to buy or not to buy should not be driven by what the media say about the housing market. It should be driven by what is in the financial best interest of the prospective buyer.” Buyers need to make informed decisions based on their own personal financial circumstances, Terry says. “The newspapers and television have a gloom and doom approach that keeps many buyers out of the market. This is too bad, because people that buy now will be very happy with their purchase several years down the line.” In addition to buying a home, now is the best time in several years to refinance an existing mortgage, Terry says. Statistics show a recent spike in home refinancing because of the sharp downturn in interest rates. “If you have an adjustable-rate mortgage or a fixed rate mortgage at 7% or so, now is the time to refinance,” he says. “Depending on the size of your mortgage, you can save substantial amount and significantly lower your monthly payments.” Hamilton Mortgage, 724 Danbury Road, 203438-9445.

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Showcase What You Love Build a room around a favorite painting, rug or mirror. This is a great way to start thinking about the look and style you want to create in the room. Pick a paint color

Patti Stern is an accredited home stager and member of the national organization for professional home stagers, ASP. For more information, 203-640-3762; e-mail patti@pjhomestyling.com; Web site, pjhomestyling.com.

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JANUARY 2009

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VOL III, ISSUE 1

Special Section to: The Valley Gazette, The Oxford Gazette, The Stratford Star, The Milford Mirror, The Amity Observer, The Trumbull Times, Fairﬁeld Sun, The Huntington Herald, The Monroe Courier, and The Easton Courier.

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1000 Bridgeport Avenue, Shelton CT 06484

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• January 15, 2009 •

Hersam Acorn Newspapers •

Accessible solutions from Accessible Answers by Robin E. Glowa When Kevin Finn, a contractor and remodeler, had two herniated discs, he became acutely aware of how an injury could hinder his dayto-day lifestyle. Kevin’s injury, which occurred while he was building his own home, forced him to examine new career options. He realized there were probably many people with physical problems who could benefit from a variety of home modifications. Kevin’s hands-on experience as a craftsman eventually segued into kitchen and bath design as well. With these skills he knew he could build a new business that would offer clients whole-house remodeling to meet a wide range of physical needs. He coupled his extensive knowledge of mechanical systems and building techniques with a certification as an agingin-place specialist. He then combined his skills with those of physical therapist Ceil Harrigan, and Accessible Answers was born. Kevin says, “I’m a builder, not a surgeon. Ceil is such an important part of this business with her background in health care. She is able to address the physical aspects of all our projects. Ceil works closely with clients, utilizing her training to listen and uncover many opportunities to better facilitate a higher level of independence for our clients. “Our first year in business has been working out great,” Kevin says. “We have excellent working relationships with nursing and homecare people in several communities. We are the recommended builder for Staying Put in New Canaan. Jane Nyce and Donna Simmone of Staying Put have given me the opportunity to solve some of their members’ home-environment needs, and I’m really grateful. The therapists at Nursing and Home Care in Wilton have also supported the efforts of Accessible Answers. After my presentation to their members back in October, their enthusiasm was demonstrated with a steady stream of client referrals.

Kevin Fine combined his skills as a contractor and remodeler with those of physical therapist Ceil Harrigan to create Accessible Answers, a Norwalk company that specializes in adapting homes to the owners’ physical needs. Here he discusses with a client the placement of a grab bar.

“I believe the key to Accessible Answers’ success will rely greatly on the relationships we build with those who understand our customers’ needs the most, whether it be a physical therapist, a doctor or a son or daughter. These are the people committed to the safety and comfort of those they care for, but who don’t always know where to turn to get things done,

Style plus Comfort Begins with Bender

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and done right. I want people to know there’s a business structured entirely around helping them do that.” Even though a home may be perfect for the occupants right now, it’s never too soon to plan for the future. If the homeowner plans to live in the home through retirement, there

are useful things to be done to prepare the home for improved safety and comfort as the homeowner ages. By pre-planning now, Accessible Answers can help avoid costly repetitive remodeling in the future. Victims of injury or illness seldom have time to research options for their homes. Kevin

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• January 15, 2009 •

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Hersam Acorn Newspapers •

and Ceil work with the client and the client’s occupational therapist or healthcare professional to create easy-access to the home, quickly and safely.

Dream continued from page 3

If mobility will be compromised by surgery, the home can be outfitted in advance with a few temporary solutions to ease everyday tasks when a client returns home. This could be a great comfort and ensure a speedier and safer recovery.

countertops, and an open vanity with shelves and storage underneath. There are walk-in and slider closets, recessed lighting, surroundsound interior and exterior system, and glass sliders to a wraparound deck overlooking the water. With three sons, the large upstairs bathroom features three sinks, a stone shower and urinal. Individual “cubbies” were builtin. The daughter’s suite features a private bath. Granite countertops, surround-sound systems and recessed lighting are here, too, and throughout the rest of house.

Presenting a kitchen redesign.

Accessible Answers will provide a home assessment to identify areas that need immediate attention or may require modification in the future. Bathing, cooking, entrance and exit areas, and in-home navigation will be examined to minimize barriers and provide a safer environment.

installed for further savings, and easy-toclean, insulated vinyl replacement windows save money and are more convenient.

There’s a family room on each of the three levels, and on the first floor there’s a wraparound bi-level deck with an outside entertainment center and surveillance cameras. The floors throughout are oak and maple, and there’s a trim package that exceeds all expectations. Water views are everywhere. And there’s a guest house. There’s no doubt this is a $2.5 million dream home.

If you want to adapt your home to meet changing needs as you grow older, or you would like to make your home more accessible to visitors with special needs, or if you need to make your home more accessible immediately, Accessible Answers has the answers for you.

Safe passage from room to room as well as beauty and function are key points in a customized remodeling. The design team will help determine entry and exit options, such as modular ramp systems that are either permanent or temporary. Kitchens and baths can be outfitted with details that enhance safety, practicality and attractiveness. Multi-level living spaces often call for solutions such as elevators or stair lifts. Accessible Answers works with each client to find the most effective adaptations.

Kevin says, “Some people ask what inspired me to start this business. I suppose installing grab bars and wheelchair ramps may not seem like very rewarding tasks to some people. But when a customer makes it a point to thank you for allowing them to get outside, breath fresh air and hear the birds again, swinging a hammer suddenly takes on a much nobler meaning to me.”

The cost of home heating is a concern for every homeowner. Accessible Answers can help them stay in their homes longer, more comfortably and economically, by making the home more fuel efficient. The highest R-rating fiberglass insulation is used in the exterior walls of all kitchen and bath remodels. Energy-efficient bulbs are

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Lic. # 0582455

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�� “Keeping Your World Green!” ��

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Michael Tarentino may be reached at 203-6277856.

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With all the unique features the Tarantinos have incorporated, someone is sure to come along to claim this dream house as their own.

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For more information, call Accessible Answers at 203-866-3332; e-mail, info@accessibleanswers.com; Web site, accessibleanswers.com.

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Since Michael owns his own business, WestShore Realty Inc., it was interesting to learn how he priced the home on which he has spent so much time, effort and money. “I priced the house to sell,” he said, in consideration of the current economic crisis. “Being in real estate, I’ve made a good investment,” he added with confidence.

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“We’ve lived here happily for two years,” said Michael, who just put his dream house on the market. Dreams change and with them the homes. “Our children have really gotten into sports and need more running around space — especially in winter,” he said.

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• HOME

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• January 15, 2009 •

Hersam Acorn Newspapers •

HOME OF THE MONTH ■

Move Right In! LOCATION: This charming home in Oxford has a setting to match. PROPERTY: More than three acres of broad lawns surrounded by a thicket of mature trees provide lots of space for outdoor activities and a background of privacy for entertaining. HOUSE: This traditional Colonial-style house offers a diversity of space that is ideal for family fun or entertaining. The den with a Palladian window has a vaulted ceiling and sliders to a back deck, as does the family room. Light and cheerful throughout, the house has a living room with fireplace, a dining room with pegged wide-plank floor and a kitchen with wood floor. On the second level is a master bedroom with bath and walk-in closet and two more bedrooms. There are two full baths and one half. A finished room on the third level works well as an office, and the full basement provides access to the garage. GARAGE: Two-car, lower level. PRICE: $429,900. REALTY: William Pitt Sotheby’s International. Agent: Lawren Hubal, 203-452-5562. Photography: David Ames.

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Purchase Of $500 Or More With Mention Of This Ad

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