Totally renovated in 2008. New eat-in kitchen with views of the Long Island Sound. Spacious bedroom, bath and walk-in closet. Living room with French doors into glass enclosed den, office or guest area. Small loft, and star gazing possibilities from the open rooftop.

A little slice of heaven.

View more photos.

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

Visit the Westport Fine Arts Festival on Main Street and then head on over to the library. Fulfill your artistic and literary needs all in one day.

Enjoy a great summer weekend in Westport.

If you find a home decorating book with great ideas, but don’t have a home to decorate, come see us.

Miriam Luck and Dee Cohen
Coldwell Banker Westport Riverside 
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

There will be 140+ artists, musical performances, entertainment and children’s activities.

Stroll down Main Street, see your friends and neighbors, enjoy the weekend in town and ….. buy some art.

If you fall in love with a piece of art, but don’t have a place to hang it in your current home, call us and we will be happy to help you find another one. 

Miriam Luck and Dee Cohen
Coldwell Banker Westport Riverside 
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

This Westport tradition runs through the weekend with food, music, games and rides. Come on out and enjoy this great community event with the family, kids, friends and neighbors. 

Here’s a link to the times and performances -  Festival Italiano Events

Hope you enjoy the weekend. Maybe we will see you there.

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

Market Comment

Mortgage bond prices had another volatile week with rates pushing higher the beginning of the week only to bounce back towards the end. Thursday’s employment report was mixed. Non-farm payrolls fell 467,000 in June and the unemployment rate stood at 9.5%. Estimates were for jobs to decline 365,000 and the unemployment rate to stand at 9.6%. Fortunately the payrolls figure gained most of the attention along with falling oil prices and we recovered about 1/2 of a discount point Thursday morning. Oil was under $67/barrel Thursday morning, which helped alleviate inflation fears. The bond market was closed Friday for the holiday. For the week interest rates were near unchanged.

The additional debt supplied tied to the US Treasury auctions will be the most important data this week. The trade data may also move the financial markets.

Weather

The mortgage interest rate markets are subject to an enormous number of factors. Most analysts agree that weather can have an effect on market activity. Although the effects are seldom long lasting, they can be quite significant.

The United States is the world’s largest exporter of corn. Last year, relatively rainy weather across the Midwest portions of the United States delayed the planting of corn. This caused corn prices to escalate. This year corn farmers planted more acres of corn than analysts expected. Larger corn crops recently caused prices to fall. This is one bright spot amid heightened inflationary fears. Lower corn prices likely will result in lower food prices for some items.

The weather also has the potential to directly alter fuel prices. As we enter the hurricane season, many oil and gas fields in the Gulf along with refineries along coasts are susceptible to damage. If this were to occur, oil prices would almost surely rise sharply. Rising oil prices would do little to help mortgage bond prices already pressured by inflationary fears and competition for investor funds from record debt levels. The result would most likely be higher rates.

The economic effects of various weather occurrences may cause only temporary changes in economic activity. However, those times of change can have a lasting impact on people obtaining mortgages. Despite the rate volatility seen recently, mortgage interest rates remain historically favorable for borrowers. Now is a great time to take advantage of rates at these levels.

Jim Hanrahan, Sr. Loan Officer, NE Moves Mortgage, LLC
Cell: 203-816-7879
Email: james.hanrahan@nemoves.com
Online application www.nemmortgage.com/jameshanrahan

Hope you have a delicious 4^th!

Remember we are always here to answer your real estate questions. 

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

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Here is a wonderful upscale menu to inspire some new ideas to incorporate for your next BBQ Bash with friends: 

STARTERS

“Watermelon cups” with shots of Petrone

(substitute your libation of choice)

Guacamole in Wonton Cones

Grilled Shrimp with Aji Verde

BUFFET

Spinach Salad with Fresh Strawberries & Brie, Balsamic-Poppy Vinaigrette

AnchoRubbed Steaks with Cuban Espresso Sauce

Stuffed Mini Lobster Tails with Vanilla Saffron Sauce

Stuffed CriminiMushrooms with Gorgonzola

Organic Quinoa Salad with Swiss Chard

Corn on the Cobb with Melted Butter dusted with Cumin

SWEET FINALE

Kahlua Chocolate Brownies

Red, White & Blue Fruit Parfaits

If you would like the recipes for any of the ideas mentioned, contact Chef Michele at VIP Chef Services at spectacularlife@snet.net or call 203.221.7711.

Michele Gabay Liguori oversees VIP Chef Services & Catering, an upscale boutique firm specializing in creative cocktail receptions and amazing events as well as private chef services. She is also an invited speaker with “Getting Beyond Pasta, Pizza & Nuggets - How to transition your Kids to Eat Healthy”. www.vipchef.com

Call us for a market evaluation of your home, at no charge to you.

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

It takes place at the Weston Middle School field starting at 4:30. Admission is $5 for adults, $2 for children 3-17 and children under two are free.

Performances include; the Westport Community Band, led by Sal LaRusso, from 6:15 to 7:15; the Magic Genie, Nissan Eventoff, performing during the evening; The Straight Note Chasers Band performing before and after the fireworks display; The Professor Harold Hill Memorial All-Kazoo Band, made up of any willing member of the public, thanks to the Kiwanis Club donating 200 kazoos.

Fireworks begin around 9:15.

Parking in the School Road parking lots or at St. Francis of Assisi Church where shuttle buses will run from 7 until after the fireworks.

As of today the weather looks like it will be good, but just in case, the rain date is Sunday, July 5.

Enjoy your 4th!

Hope to see you there.

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

Come on out and join your friends and neighbors in this wonderful community activity. 

Tickets are available at the Westport Parks and Rec office at Longshore during business hours and at Westport Police Headquarters anytime.  They are $30 per car and must be purchased in advance.

Compo Beach will close at 4 p.m. and reopen at 5 p.m. for fireworks ticket holders.  The fireworks show will begin at approximately 9:15PM.

As of today, the weather looks like it will be good, but just in case, the rain date is Monday, July 6.  

Hope to see you there.

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

Let us know if you have any questions. There is no obligation. We would be happy to help.

Miriam Luck and Dee Cohen
203-858-8568 / 203-856-2336
Homes@WeKnowWestport.com
www.WeKnowWestport.com

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Appraisals……what’s going on? 

On May 1, 2009, Fannie Mae and Freddie Mac, along with the NY State Attorney General instituted the Home Valuation Code of Conduct (HVCC), to enhance the independence and accuracy of the appraisal process.

The HVCC forces a firewall between lenders and home appraisers. Gone are longstanding relationships between a local lender and a local appraiser.  Now, lenders and brokers are forced to use appraisal management companies (ironically - or maybe not so ironically-many of which are owned by the big banks). These companies hire independent appraisers across the country and call on them to do the local appraisals. This rule, however, DOES NOT apply to FHA, VA or jumbo loans over 725k.

The new HVCC is increasing processing times, thus causing contingency dates to be extended and in some cases moving closing dates out. 

The revised code in short…..

No employee, director, officer, or agent of the lender, or any other third party acting as joint venture partner, independent contractor, appraisal company, appraisal management company, or partner on behalf of the lender, shall influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or in any other manner including but not limited to:

(1) withholding or threatening to withhold timely payment or partial payment for an appraisal report;

(2) withholding or threatening to withhold future business for an appraiser, or demoting or terminating or threatening to demote or terminate an appraiser;

(3) expressly or impliedly promising future business, promotions, or increased compensation for an appraiser;

(4) conditioning the ordering of an appraisal report or the payment of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation to be reached, or on a preliminary value estimate requested from an appraiser;

(5) requesting that an appraiser provide an estimated, predetermined, or desired valuation in an appraisal report prior to the completion of the appraisal report, or requesting that an appraiser provide estimated values or comparable sales at any time prior to the appraiser’s completion of an appraisal report;

(6) providing to an appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or target amount to be loaned to the borrower, except that a copy of the sales contract for purchase transactions may be provided;

(7) providing to an appraiser, appraisal company, appraisal management company, or any entity or person related to the appraiser, appraisal company, or appraisal management company, stock or other financial or non-financial benefits;

(8) allowing the removal of an appraiser from a list of qualified appraisers, or the addition of an appraiser to an exclusionary list of disapproved appraisers, used by any entity, without prompt written notice to such appraiser, which notice shall include written evidence of the appraiser’s illegal conduct, a violation of the Uniform Standards of Professional Appraisal Practice (USPAP) or state licensing standards, substandard performance, improper or unprofessional behavior or other substantive reason for removal (except that this prohibition will not preclude the management of appraiser lists for bona fide administrative reasons based on written, management-approved policies);

(9) ordering, obtaining, using, or paying for a second or subsequent appraisal or automated valuation model (AVM) in connection with a mortgage financing transaction unless: (i) there is a reasonable basis to believe that the initial appraisal was flawed or tainted and such basis is clearly and appropriately noted in the loan file, or (ii) unless such appraisal or automated valuation model is done pursuant to written, pre-established bona fide pre- or post-funding appraisal review or quality control process or underwriting guidelines, and so long as the lender adheres to a policy of selecting the most reliable appraisal, rather than the appraisal that states the highest value; or

(10) any other act or practice that impairs or attempts to impair an appraiser’s independence, objectivity, or impartiality or violates law or regulation, including, but not limited to, the Truth in Lending Act (TILA) and Regulation Z, or the USPAP.

 The bottomline, it is a whole new world out there, nothing like we have ever seen before, and only time will tell, if this new process really works.

Jim Hanrahan, Sr. Loan Officer, NE Moves Mortgage, LLC
Cell: 203-816-7879
Email: james.hanrahan@nemoves.com
Online application www.nemmortgage.com/jameshanrahan