Thanksgiving is just around the corner and that means that Christmas will be coming quickly on its heels. Then, before we know it, it’s time to start pulling together all our tax information. Sure, taxes aren’t due until April 15th, but we all know what a process it is. We also all know that some of the frustration and “pain” can be avoided by getting a jump on it. So, to help give you that early start, here are some web sites which will give you some great tips, whether you’re a first time homebuyer, someone who owns a vacation home, or an investment buyer who has purchased a home at foreclosure. Remember, always check with your own tax advisors, but these articles might provide you with some discussion points. Good luck!
Home sweet homeowner tax breaksTax Tips for Homeowners | DoItYourself.comTurboTax® - Buying a Second Home - Tax Tips for HomeownersTax tips for Homeowners of short sale or foreclosed properties12 Tax Tips for Homeowners in 2010
The following information was released November 9, 2010, by the Department of Environmental Services (DES), Concord, NH –
The NH Carbon Monoxide Work Group announced November, 2010, as the state’s first Carbon Monoxide Awareness Month, as proclaimed by Governor John Lynch.
Carbon monoxide is a serious public safety concern, and poses the greatest risk to people in their homes. Nationally, CO is one of the leading causes of accidental poisoning deaths, and accounts for more than 50,000 emergency department visits each year in the US.
Carbon monoxide poisoning becomes a greater risk as we enter the heating season as people spend more time indoors. Protect your home and family by following these simple do’s and dont's:
DO have your fuel-burning appliances – including oil and gas furnaces, gas water heaters, gas ranges and ovens, gas dryers, gas or kerosene space heaters, fireplaces, and wood stoves – inspected by a trained professional, and make certain that flues and chimneys are connected, in good condition, and not blocked.
DO read and follow all of the instructions that accompany any fuel- burning device. If you cannot avoid using an unvented gas or kerosene space heater, carefully follow the cautions that come with the device. Use the proper fuel and keep doors to the rest of the house open. Crack a window to ensure enough air for ventilation and proper fuel-burning.
DO install at least one CO detector in the living areas of your home, preferably one on each floor.
DO know the symptoms of CO poisoning, which even at moderate levels, includes severe headaches, dizziness, confusion, nausea or faintness.
If you experience symptoms that you think could be from CO poisoning: get fresh air immediately. Open doors and windows, turn off combustion appliances and leave the house. Call 9-1-1 or get to an emergency room immediately.
DON’T idle the car in a garage -- even if the garage door to the outside is open. Fumes can build up very quickly in the garage and living area of your home.
DON’T use a gas oven to heat your home, even for a short time, and DON’T ever use a charcoal grill indoors – even in a fireplace.
DON'T sleep in any room with an unvented gas or kerosene space heater.
DON’T use any gasoline-powered engines (mowers, weed trimmers, snow blowers, chain saws, small engines or generators) in enclosed spaces, including the garage.
DON’T ignore symptoms, particularly if more than one person is feeling them. You could lose consciousness and die if you do nothing.
For a comprehensive source of information on carbon monoxide safety tips, emergency generator usage, health risks, and more, please see www.nh.gov/co.
The New Hampshire Carbon Monoxide Work Group is an interagency task force dedicated to keeping the public informed of the many safety and health issues related to carbon monoxide. The group includes representatives from the state’s departments of Environmental Services, Health and Human Services, and Safety, the Poison Center, the US Consumer Product Safety Commission, the City of Concord, Concord Regional Health Care, and Powers Generator Service.
Here is some good advice for those folks who have sold their homes and need to pack up and move on.
First decide if you are going to do it yourself, or hire a full-service company or, relatively new, hybrid, of the two. Then, get recommendations from friends and relatives on the best choices and solicit two or three quotes. Like most undertakings, working with a high-quality, customer-service oriented company can make all the difference in how you feel during and after the move. Sort your belongings into categories: keep, throw out, recycle, donate, or sell. Try to be flexible in the timing of your move; you can save a lot of money by asking the mover for the different rates for different times. Save on packing materials by packing a lot yourself and using your own belonging as breakage buffers. If you have a large collection of books, check into mailing them; it might be cheaper than the movers. Lastly, decide ahead of time where your furniture and belongings will be placed in their new location. All of these suggestions can help save you time, money, and worry.
Source of information: based on an article originally posted on RISMedia, July 13, 2010. (c) 2010, Chicago Tribune. Distributed by McClatchy-Tribune Information Services.
Daylight Savings is this weekend. If your home is on the market in the New London/Lake Sunapee Area, many would be buyers will only be seeing your home in the dark. Well-executed outdoor lighting will cast your home in the best possible light and add an abundance of curb appeal. It can also add value. However, it's not just about aesthetics, lighting for security is also important. Here are some elements of successful outdoor lighting: Mimic moonlight: The "moonlight effect' is a naturalistic look that features light no more intense than that of a full moon, but still strong enough to make beautiful shadows and intense highlights. Highlight trees: Illuminated from below or with a light mounted in the tree itself, trees make stunning features. Use up-lights: Up-lighting is dramatic because we expect light to shine downward. Have a focus: The entryway is often center stage, a way of saying, "Welcome, this way in." Stick to warm light: The purpose is to showcase the house and its landscape rather than create a light show. Add safety and security: Stair and pathway lighting help eliminate falls. Motion-detecting security lighting is helpful when you get out of your car at night, and it also deters intruders. Landscape lighting on timers can also illuminate shadowy areas. The moonlight effect can have a security function as its soft, overall lighting eliminates dark areas that might hide an intruder, unlike overly bright lights which create undesirable pockets of deep shadown. Switch to LEDs: Now the light source of choice for lighting designers. A little attention to some outdoor lighting options could make your house stand out from the crowd, especially at this time of year. And that's just what's needed to help you get it sold! This article was based on one by Dave Toht for NAR's houselogic.com, published in March of 2010. Visit the site for more great ideas. Toht has written or edited more than 60 books on home repair and remodeling, including titles for The Home Depot, Lowe's, Better Homes & Gardens, Sunset, and Reader's Digest.
In 1952, some attendees at New London's Old Home Day conceived the idea of founding an Historical Society to mark the upcoming 175th anniversary of the town's incorporation. A committee was selected to begin the undertaking. On July 31, 1954, the day of New London's celebration of its 175th anniversary, an organizational meeting of the New London Historical Society was held at the Town Hall. "The purpose of this new organization was to develop interest in the history of the area, to collect and preserve memorabilia and historically significant objects, and to educate and inform a growing population of the importance of our past to present day life." For a number of years, since they had no site of their own, the members of the Society met at a variety of locations in town. However, in 1963, Walter Bucklin donated some farmland on Little Lake Suanpee Road where the Society began to assemble its collection of original and reproduction buildings (a total of 16) which host exhibits that depict aspects of 19th century life in the New London area. The Historical Society offers a series of programs year-round, including a Holiday Open House, dessert socials with speakers on a variety of subjects, school visits, and many other special events and exhibits, all of which are open to the public. Visit their web site at A window to the past: New London Historical Society.
The August 23, 2010, issue of RISMEDIA online daily newsletter included an article by David S. Jones, discussing the pros and cons of reverse mortgages. Jones, the senior editor for the Real Estate Center at Texas A&M University, took much of the material from an article in the July issue of Tierra Grande magazine by Dr. James Gaines, research economist for the Real Estate Center.
Although these mortgages may not benefit everyone, there is no doubt that they are becoming more popular. They use, as a basis, the home’s current value, borrower’s age and existing interest rates. The loan can come as a lump sum payment, spread out in specific amounts or as a line of credit, or both.
Pros of a Reverse Mortgage
• There is no fixed due date.
• As long as the home remains the borrower’s principal residence,
no repayment is required
• Loans are payable upon death, sale, ceasing to live in the home or failure to keep taxes, insurance or maintenance current.
• Borrowers cannot be foreclosed on.
• Reverse mortgages are nonrecourse loans. The amount owed can never exceed the selling price.
• Borrowers continue to hold title to the property.
• There are flexible payment options.
• Loan proceeds are not taxable.
• Underwriting and approval do not depend on the borrower’s current income or employment status.
• Would-be borrowers are required to meet with an independent financial counselor prior to getting a loan.
• The lender’s lien on the property is removed if the lender fails to make loan advances according to the agreement.
Cons of a Reverse Mortgage
• Homeowners must be at least 62 years old, own their home outright or have high home equity.
•Typically, reverse mortgages provide around 65 percent of the home’s value.
• The loan, all accrued interest and costs are due when the borrower dies. Usually, the home would need to be sold to repay the loan at this time. If an heir wishes to retain the home, the full amount due must be paid off, even if it exceeds the current value of the home.
• To offset fairly high up-front costs, borrowers often need to stay in the home at least ten years.
• Borrowers are responsible for all other ownership costs.
• Homes can be foreclosed on if borrowers cease to live in them for 12 consecutive months or default on any obligation, such as maintenance, taxes or insurance.
• Generally, reverse mortgages can have more complicated terms and conditions and can also generate fairly aggressive solicitation for other products and services.
For a comprehensive explanation, read “Reverse Mortgages: Alternative Home Equity Funding” by Gaines and former Center research assistant Beth Thomas. It can be found online at http://recenter.tamu.edu/pdf/1939.pdf.
Then take a look at this spacious expanded cape on 12+ acres in New London. 4 bedrooms, 3 baths plus one bedroom, one bath apartment over the garage. Views of Mt. Sunapee, 3 car garage. For more information and photos, visit www.1615KingHillRd.com.
Getting your house under contract is a great first step, but beware…there are five common mistakes often made by sellers which could endanger the eventual closing. To keep your closing on track, be sure you … Don’t ignore contingencies This one is simple: if your contract requires you to do something before the sale, do it, and do a good job of any repairs Fix things that break Remember, there will be a walk-through. If the buyer notices that something has broken since he last saw the house, and it hasn’t been fixed, at the least, he could call for a delay of closing until the repair is made. Even worse, he might lose confidence about your trustworthiness and the condition of the house and he may walk away from the sale. Don’t get lax about deadlines Follow the timelines required in the contract to a “T”. Don’t refuse to negotiate any further Be prepared to listen to requests by the buyer for reasonable price negotiations. Don’t fail to mention liens to your agent and the buyers These things will come up in the title search anyway and could derail the closing. Take care of them up front. Article source: BuyAndSell.HouseLogic.comBy: G. M. Filisko
Published: March 30, 2010
If your house has been on the market longer than expected and you’ve had minimal activity, it’s time to review the 4 things that impact selling: Price, Condition, Location, and Marketing Plan.
- Price – Evaluate the market with your agent to see the recent solds and new listings. Discuss where your house fits into this market data. Now may be the time for a price reduction.
- Condition – Look at your house through buyers’ eyes. Spruce up, fix problems, de-clutter. Review feedback from showings to see if there are any issues which should be addressed.
- Location – If you are located close to the road or packed in with other homes for example, you can only overcome a poor location by lower pricing. “What price will make the road ‘go away’?”
- Marketing Plan – Review where your property has been marketed with your agent. Look for heavy internet exposure, make sure your home is distributed to multiple sites, check the pictures on MLS to be sure there are as many as possible and that they represent your house to its best advantage, discuss the target market to consider other placement.
It takes time to market and sell a home – keep in mind that the average days on market in the Sunapee region is around 5 months (statistic derived from the NNEREN MLS). If you’re looking for an agent who has the expertise to get your home sold, then give me a call at 603-526-4116.
Donna Forest, ABR
Many folks probably don’t know that New London Hospital was organized during the First World War. It was in 1918 that the six-bed hospital opened to the public in the building which now houses Tracy Memorial Library. About five years later, a completely new building offering 12-beds was erected on Main Street; today this building is known as the Griffin House Condominium Association. The current site (a gift of 50 acres from a summer resident) and the original building on County Road were dedicated in 1958. In 2007, expansion continued with a 46,000 square foot addition, which was completed in 2009. “Today, New London Hospital is accredited by the State of New Hampshire as a 25-bed Critical Access Hospital, providing primary care, emergency and specialized clinical services to the community it serves, continuing its rich tradition of quality service and caring.” For our area, the value of a caring, committed and involved local hospital cannot be over-estimated. Visit their web site at: New London Hospital
