Middlebury's Battle Over 700,000 Sq Ft Industrial Proposal

Local residents are set to challenge the recent approval of a plan to construct over 700,000 square feet of industrial space at the former Timex headquarters on Christian Road. Jennifer Mahr, a resident of Middlebury, revealed plans to appeal the decision, which she believes disregarded public opinion.

Last Thursday, the Middlebury Planning & Zoning Commission voted 3-2 in favor of Southford Park, LLC's application, including a text amendment increasing the maximum building height in industrial zones from 35 to 44 feet. The approval, despite vocal opposition from locals at the Shepardson Community Center, has been a point of statewide contention, with residents fearing an Amazon-like facility with heavy truck traffic.

Residents, showing their disapproval through yard signs and wearing red at meetings, argue that the development contradicts the town's wishes. Mahr, leading the Middlebury Small Town Alliance, expressed her disappointment but not surprise at the decision, which follows a previous appeal against the Middlebury Conservation Commission's approval last May. She criticized the decision as ignoring the electorate's will and hopes for a reversal in court.

Mahr's activism led to her recent election to the Board of Selectmen. She remains critical of the Planning & Zoning Commission's decision, which she feels goes against the community's desires.

The proposed development still awaits state approval, pending a Department of Transportation traffic study. A recent state law, aimed at limiting large buildings on properties with significant wetlands, seemed to initially halt the project. However, Southford Park, LLC's real estate strategy with Timex circumvented this law.

Middlebury Zoning Enforcement Officer Curt Bosco explained that the proposed project aligns with the town's regulations for light industrial use, which includes warehousing. In contrast, Mahr argues that Middlebury's zoning does not support trucking terminals and that the development contradicts the town's semi-rural identity and conservation plan.

The plan for the Timex property includes flexible space for multiple tenants, with Southford Park LLC requesting a height exception for modern industrial building standards. Last May, tensions rose when the Conservation Commission approved part of the application, leading to confrontations with residents. The Zoning Commission also allowed the movement of a large volume of material on site, further fueling local discontent.

For those in the Middlebury community considering buying or selling property in the midst of these developments, Triniyah Real Estate is available to provide expert guidance. Interested parties can contact them for a consultation at (203) 200-0933.

Debunking Homebuying Myths

Buying a home is a significant milestone in many people's lives, and it's surrounded by a host of myths and misunderstandings. Let’s debunk some of these myths to help prospective homebuyers navigate the process with more confidence and clarity.

Myth 1: A 20% Down Payment is Required

One of the most enduring myths about buying a home is that you must put down 20% of the purchase price. While a 20% down payment can save you from paying for private mortgage insurance (PMI), there are many loan programs, such as FHA loans, that allow for much lower down payments. Some programs even cater to first-time homebuyers or those with lower income, allowing down payments as low as 3.5%.

Myth 2: Working with an Agent is Expensive

Many buyers believe that using a real estate agent will cost them a significant amount of money. In reality, the seller typically pays the commission for both the buyer's and seller's agents. Working with a real estate agent can actually save you money in the long run as they are skilled negotiators and knowledgeable about the market, potentially getting you a better deal on your dream home.

Myth 3: Renting is Cheaper than Buying

While renting can be the best option for some, it’s a myth that it’s universally cheaper than buying a home. Monthly mortgage payments can sometimes be comparable to or less than rent payments, especially in certain markets. Additionally, homeownership is a form of investment, with the potential for the property to appreciate in value over time.

Myth 4: A Perfect Credit Score is Needed

It's commonly thought that only those with perfect credit scores can buy homes. However, lenders consider a variety of factors, including income, employment history, and debt-to-income ratio. While a higher credit score can help secure a better interest rate, there are options for those with less than perfect credit scores, including various government-backed loans.

Myth 5: An Accepted Offer is Set in Stone

Once an offer is accepted, many buyers believe the deal is done. However, the process is just beginning. There are still inspections, appraisals, and potentially further negotiations, especially if issues arise during the inspection. Buyers can often renegotiate the terms or price based on new information before the deal is officially closed.

Understanding the truth behind these myths can make the homebuying process less daunting. It’s important to do your own research and consult with professionals to get the most accurate information tailored to your situation. Remember, knowledge is the key to making empowered and informed decisions when it comes to one of life’s biggest investments.

The Smart Homebuyer's Guide to Outsmarting High Mortgage Rate

When it comes to navigating the world of home ownership, one of the most significant challenges potential buyers face is the fluctuation of mortgage rates. As rates climb, it becomes increasingly important to find strategies to mitigate the financial burden. Here are some savvy tips to help you beat higher mortgage rates and make your dream of owning a home more affordable.

Consider an Adjustable Rate Loan

An adjustable-rate mortgage (ARM) can initially offer a lower interest rate compared to fixed-rate mortgages. While there's a risk that rates may increase over time, ARMs can be a smart choice if you plan on moving or refinancing before the rates adjust.

Increase Your Down Payment

Putting down a larger down payment may be a powerful way to reduce your mortgage rate. Not only does it decrease the loan amount, but it also demonstrates to lenders that you're a lower risk, which could potentially qualify you for better rates.

Buy Now, Refinance Later

If mortgage rates are on an upward trend, it might make sense to purchase your home sooner rather than later. You can always refinance your mortgage if rates drop in the future, potentially saving you money over the long term.

Buy Down Interest with Points

You can pay for discount points upfront to lower your mortgage interest rate. Each point typically costs 1% of your loan amount and can reduce your rate by a certain percentage, making this a viable option for long-term savings if you plan on staying in your home for an extended period.

While these tips provide a starting point, it's crucial to consider your financial situation and consult with a financial advisor or mortgage professional before making any decisions. They can help you understand the risks and benefits of each option and develop a personalized strategy to ensure you secure the best possible mortgage rate for your circumstances. Remember, the goal is to make your mortgage work for you in both the short term and the long term.

Ready to take control of your home buying journey amidst high mortgage rates? Don't navigate this challenge alone! Call Triniyah Real Estate at (203) 200-0933 now and speak to one of our knowledgeable sales associates. We're here to guide you through your options and help you find smart, personalized solutions for your real estate needs. Take the first step towards your dream home today!