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Housing's Golden Investment or Fairy Tale?

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78 STATE OF AFFAIRS: NORTHEAST » Connecticut RANK: 6 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 2.61% 3.11% 6.7% YEAR AGO 2.69% 4.93% 7.9% YEAR-OVER-YEAR CHANGE -2.7% -37.0% -1.2% Top County WINDHAM COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.73% 4.91% YEAR AGO 3.59% 7.65% YEAR-OVER-YEAR CHANGE 3.7% -35.8% Top Core-Based Statistical Area WILLIMANTIC, CT 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.73% 4.91% YEAR AGO 3.59% 7.65% YEAR-OVER-YEAR CHANGE 3.7% -35.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Connecticut Planet Realty, LLC Sales@CTREOTEAM.com 203-982-4985 cell www.CTREOTEAM.com Security • Preservation • Disposition Steve Rivkin IN THE NEWS HUD Settles Discrimination Complaint HUD announced recently the latest development in its effort to crack down on discriminatory housing practices. e department reached a settlement agreement in cooperation with the Con- necticut Fair Housing Center (CFHC) with respondents Lil-1 Associates, AllPoints Re- alty, and realtor Lillian Polak stemming from allegations that they published discriminatory listings and advertisements for condomini- ums stating that children were not permitted in the units, in violation of federal law. e Fair Housing Act makes it illegal to refuse to sell or rent housing on the basis of race, color, national origin, religion, sex, dis- ability, or familial status. is includes refus- ing to accept families with children under 18. ere is an exception if the property qualifies as housing for older persons. "Refusing to sell or rent housing to families with children is against the law unless the property meets the very specific requirements of housing for older persons," said Bryan Greene, HUD's general deputy assistant secretary for fair housing and equal opportunity. "HUD will continue to enforce the Fair Housing Act and ensure that real estate brokers and agents do not illegally limit the housing options of families because they have children." According to the complaint filed by CFHC, an organization that receives HUD funds to investigate Fair Housing complaints, the respondents placed Internet ads with the Multiple Listing Service specifying that children were not allowed to live in the prop- erties in question. e complaint also alleges that the no-child policy was communicated verbally to a CFHC employee posing as a potential buyer. Under the terms of the agreement, the respondents will pay CFHC $24,375 in damages. AllPoints also agreed to compel its employees to attend fair housing training and to describe itself as an equal opportunity housing provider in future advertisements. e company also agreed to apprise any prop- erty owners in future business dealings that seeking to list rentals or sales with limitations against families with children is a violation of the Fair Housing Act. Lil-1 Associates has since ceased operations. Delaware RANK: 9 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 3.00% 2.39% 6.1% YEAR AGO 3.51% 2.97% 6.9% YEAR-OVER-YEAR CHANGE -14.7% -19.5% -0.8% Top County KENT COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 4.31% 3.67% YEAR AGO 5.06% 3.83% YEAR-OVER-YEAR CHANGE -14.8% -4.3% Top Core-Based Statistical Area DOVER, DE 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 4.31% 3.67% YEAR AGO 5.06% 3.83% YEAR-OVER-YEAR CHANGE -14.8% -4.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. District of Columbia RANK: 20 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 2.44% 1.87% 7.4% YEAR AGO 2.89% 2.44% 8.5% YEAR-OVER-YEAR CHANGE -15.5% -23.3% -1.1% Top County DISTRICT OF COLUMBIA 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 2.44% 1.87% YEAR AGO 2.89% 2.44% YEAR-OVER-YEAR CHANGE -15.5% -23.3% Top Core-Based Statistical Area WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 2.06% 1.30% YEAR AGO 2.89% 2.44% YEAR-OVER-YEAR CHANGE -28.6% -46.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. The number of home sales totaling over $5 million in Connecticut's Q2 ultra- luxury market. Source: Berkshire Hathaway STAT INSIGHT 22

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