This diamond in the rough has its own private, permanent dock directly across the street on Lake Sunapee. Area of nice homes and a ten minute drive to Mt.Sunapee Ski Resort. Price reduced to $269,900. Visit www.110LakeAve.com for more photos and details.
Have a Contract? It’s Still not Time for the Bubbly!
Getting a house under contract can sometimes be challenging enough. However, it’s still not time to break out the champagne once it happens. According to a survey by the Nat’l Assoc. of Realtors, about 14% of pending sales don’t close and another 20% are delayed but eventually close. Most of the issues can be attributed to financing or home inspections.
So what can you do? Be mentally prepared that there most likely will be hurdles to overcome and the closing date may not be concrete. Have a home inspection prior to putting your house on the market and make needed repairs so you can avoid post-contract negotiations or worse, giving the buyers reason to walk from the contract. Be aware that tighter lending regulations can slow the process - anything from the house not appraising to last minute negotiations that create a 3-day delay due to new lending rules. It’s a complex process and that’s why you need a knowledgeable Realtor to help navigate your way to a successful closing. Give me a call and put my 15 years of experience to work for you. 603-526-4116
Donna Forest, ABR
Back in the “good old days”, buyers who were pre-approved usually spent less than a month looking for a home; typically, they would see 15-20 houses. In today’s market, it’s not unusual for buyers to look at two or three times that number and still not say “yes” to one of them. With the number of homes available, buyers become overly concerned that they have not yet seen the “perfect” home. News media reporting has also helped convince them that there is a “better deal” around the next corner.
Here are some tips which might help buyers be more efficient in their search:
-Look at enough properties to get acquainted with the local market and its likelihood of meeting your expectations. Also, be sure to have your agent provide you with data regarding the performance of the market in your area, including sold statistics.
-Let your emotions help you. Too many buyers have forgotten that buying a home should be a satisfying and rewarding emotional experience, as well as a sensible purchase. Without emotion entering into your considerations, it will be much harder to make a decision. Go ahead, fall in love with a house! Then be sure it is a good purchase for you.
-Decide if a distressed property is really right for you. Purchasing a property which is under foreclosure or short sale circumstances can be a complicated and trying experience. Buyers will need a very good agent and a lot of patience and flexibility to be successful.
-Don’t focus too heavily on price. Yes, price is an important consideration, but it isn’t the only one. Sometimes focusing on getting the “very best” price keeps buyers from considering all the other benefits of purchasing a home
-Be ready to negotiate. The first step is to make an offer at a price you are comfortable with…but be prepared to consider a counter-offer from the seller. Negotiation is part of the process and can be the open door to a successful purchase. Typically, in the current market, sellers are still finding that they are the ones who need to do more negotiating, so, go ahead, give it a try, you never know where you might end up!
-Get plenty of advice but trust the professionals. Now, more than ever, buyers need the experience and guidance from a real estate professional who knows the market in his/her area. Friends and family can certainly offer good ideas for consideration, but, in the end, trust the professionals.
-Don’t let negative comments about the housing market scare you off. Despite the fact that there still seems to be bad news being broadcast about the real estate market, serious buyers should keep their eyes on the target. This is a “perfect storm” for buyers: historically low interest rates, high inventory, motivated sellers…you can buy more now for your dollar than at any time in recent history.
Go on out and buy a home! You won’t regret the decision!
Based on an article published on line, November 17, 2010, by RISMEDIA, the Leader in Real Estate Information Systems
Two bedroom cottage within walking distance of Sunapee Harbor offers a dock right across the street on Lake Sunapee. Imagine strolling out your door to take a quick boat ride on a warm summer's evening. Price reduced from $299,900 to $279,900. For more information and photos, please visit www.110LakeAve.com.
Don’t buy a house without having a Building Inspection by a professional home inspector. A home inspection can not only educate you on the current condition of the home, but also, can minimize costly surprises in the future.
Here are four things you really need to know about home inspections:
1. Be sure you hire a qualified inspector with an excellent reputation. How long has he been in business? Can he give you referrals? Has he had any formal training? Is he licensed by the State? Does he carry Errors & Omissions Insurance?
2. Request a copy of a sample report. Check that it appears thorough with clear and easy to understand explanations; pictures are really helpful. Also, ask how long it will be before you receive the report.
3. Inspect the other systems and conditions. Some companies will also offer septic system inspections, testing for radon water or radon air, pest inspections, water tests, mold screening, lead testing, or uranium and arsenic testing. As a minimum, inspect the septic and test the water for quality and the presence of radon. Educate yourselves so you can decide if want to do any of the other testing which is available.
4. Be sure to go along on the inspection, if at all possible. (Be wary if the inspector discourages you from coming!) The inspector can be very helpful in explaining how to operate the home’s various systems and will often provide helpful tips on maintenance or energy-saving. Going along on the inspection will also make it that much easier to understand the final report.
Have fun and good luck!
These tips appeared in HouseMaster and appeared in RIS Media in April, 2010.
You’ve found the perfect home, but before you close, you will most likely want to have a home inspection. This should include consideration of the possibility of the presence of lead paint in the house. Lead is a highly toxic metal and is especially dangerous to children - their bodies absorb more of the metal. Even low levels of lead reduce IQ & attention span, cause learning disabilities and retard development. Lead poisoning is a major health problem in this country for children. It even impacts adults by increasing blood pressure and damaging the kidneys, nerves, and brain. Any amount of lead is bad. Why am I writing about it? Because about ¾ of the homes built prior to 1978 contain some lead paint. And there are plenty of older homes in this area. The most obvious source of contamination is peeling paint. However another primary source, and one not as noticeable, is contaminated dust created from the friction of opening and closing of windows, doors, scuffing of feet on stairs, renovations, etc. Even though most houses today are completely repainted inside and out, the danger of lead dust still exists. This dust clings to carpets, floors, furniture, and toys. Young children get it on their hands and then put their hands in their mouths. I’m sure I don’t have to delve into the problems with the dust created from renovations. You get the picture. Whether you’re selling or buying a pre-1978 house, you need to be aware of the requirements, disclosures and risk assessments available. Contact me for a free pamphlet “Protect Your Family from Lead in Your Home.”
603-526-4116
OK –so, of all the homes for sale, you’ve finally found the one you want to buy. How do you know what to offer? While it is a buyers’ market, you still need to be reasonable on where you start. Low-balling the sales price tends to negatively affect the negotiation process. Sellers generally will not even counter back; feeling that the buyers are not serious. To make an effective offer, you should work with your agent to get information on comparable houses sold within the past year and get the pricing of the competition. Chances are you have been out looking at the similar homes for sale so you will have a good feel as to how this property compares to the others for sale. Another factor to consider is how long it has been on the market. If the listing has been on for substantially longer than the average, you may be able to offer a much lower price. Find out the list to sell ratio for that town. In this area, the selling prices are running about 91% of asking. The key to making a successful offer is to have good information. Working closely with a knowledgeable agent will make this process easier, so give me a call if you want to work with an Accredited Buyer’s Representative! 603-526-4116
A charming cape and year-round cottage on a private, protected point of land on the shore of Little Lake Sunapee with 530 ft. of waterfront. Terrific sunny exposure and wonderful sunsets are yours to enjoy! Was $1,075,000; Now $995,000. For more details and photos, visit www.719LittleSunapeeRd.com.
Here are some helpful tips and suggestions for things to look for when choosing a neighborhood in the New London/Sunapee area, or any area for that matter, which will suit your needs: 1/Visit the area at different times of day. That will help determine things such as traffic patterns, activity levels, noise levels, and the influence of any of the other nearby by areas. 2/Practice your commute to work. It might turn out that one neighborhood’s location might actually add to the cost of the house, depending on the length of the commute, or possibly, increase the frustration level of the ride to work, simply because of the difficulty of the commute. 3/Talk with the locals. There is no better source of information than the people who already live there. They will be able give you a true sense of the neighborhood. 4/Searching out the details. For information on crime rates, accident incidences, and the like, the local police department can be very helpful. Also, the internet can be a good resource as well. 5/If you’re looking for a home in a larger city or metropolitan area, www.nabewise.com might be fun to explore. You can set up a search which addresses some of the more “quality of life” characteristics which you might be looking for (such as trendy, dining, shopping, museums, etc.) Enjoy your search and don’t forget your greatest resource is your REALTOR®! Source: Inman News columnist, Mary Umberger, a freelance writer from Chicago, 8/18/10
Antique brick home in a pretty country setting offers mountain views, spacious rooms, wide pine floors and hand-hewn beams. Close to skiing and Lake Sunapee. Huge attached barn/garage. For more photos and details, visit www.2226BrookRd.com