The real estate market is still going strong and it continues to be a seller's market; mainly due to the lack of inventory. The NH Association of Realtors (NHAR) most recent data for the first 6 months shows the median sales price is now at $295,750, which is up 5.6% from the same time period in 2018. The volume of sales is down 3% from last year; again most likely because there are fewer homes to sell. On a more local level, there have been 88 home sales in New London, Newbury, and Sunapee combined in the first 6 months as compared to 69 sales last year. Currently the median selling price is $348,750 while in 2018 it was $350,000. Homes are selling quicker this year with an average of 90 days on market versus 141 days in 2018. While the last 2 years have seen 6+% appreciation, the projected home price gains according to some of the industry's most reliable sources range from 2.8% (NHAR) to 4.6% (Fannie Mae). Every source expects prices to continue to grow which is good news for the market. The stepest increase is through 2019 and should moderate going forward. Contact me if you want to know how the market impacts you! Donna@DonnaForest.com, 603-526-4116, www.DonnaForest.com
Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/18 - 7/1/18 & 1/1/19-7/1/19
If you appreciate the craftsmanship of the 1920's you will love this New Englander in Newport, NH! Gorgeous original details throughout - five panel doors, built-in hutch, open columns between the living and dining room, fabulous pantry, grand staircase to the second floor, pine floors - some refinished, some under carpet. Open layout on the first floor. Second floor has four bedrooms connected by a long center hallway and a full bath. Two enclosed porches to savor the summer breezes. Plenty of space for gardens and not a lot of lawn to mow. Walk to Main Street. They don't make 'em like this anymore! Offered at $122,000.
Anne Marie Appel, Listing Agent, 603-526-4116
Designed with distinction, this captivating and coveted Timberpeg home offers high quality luxury. Openness and clean lines enhance the outstanding lake and mountain views, abundant natural light with unobstructed windows, and a flowing open floor plan with 3 levels of generous and comfortable living. Custom built and adorned with craftsman inspired touches throughout - pegged post and beams artfully framing soaring ceilings, the hand-built granite stone fireplace, gleaming red birch floors, a tailormade mudroom specifically designed for optimum ski gear storage, and a spacious chef's kitchen with granite countertops and stinless steel appliances. It's a perfect home for maximum living and entertaining with ample room for hosting many guests. Browns Hill amenities include an in-ground pool, tennis courts, and beach front on Lake Sunapee with a fun boathouse/clubhouse on the lake. Private, peaceful, and perfect - anything else is a compromise! Offering Price: $1,350,000. Virtual Tour https://my.matterport.com/show/?m=JnPiSmiDKQd
Donna Forest, Listing Broker, 603-526-4116
You’ll be moving in the right direction with Better Homes & Gardens Real Estate - The Milestone Team.
OK – I confess – I have a pet peeve about photos. Specifically about poorly done photos on properties that are listed for sale. I get really annoyed when I see dimly lit rooms, kitchens with cluttered countertops, refrigerators covered in magnets and papers, and out of focus pictures. Sellers, you deserve better - homes with high quality photos sell 32% faster.
Given that over 90% of buyers start their search online, if you don’t have great photos, your property is going to be bypassed in seconds. And buyers will not go back to review it once they’ve weeded it out. So sellers, do yourself a favor and go view how your house looks online. If you are not seeing clean lines, decluttered and bright rooms with wide angle lens shots, and crisp photos, then it is time to have an honest conversation with your agent on how you can better prepare your house for photos. And you need to ask the agent how they will take higher quality photos. Contact me if you want to work with an agent who knows how to maximize your online presence. DonnaForest.com; Donna@DonnaForest.com; 603-526-4116
Given the lack of homes for sale, we often see multiple offer situations. It pays for buyers to be prepared should they find themselves in a bidding war. Here are some tips to help put your offer in the best position.
- Keep contingencies to a minimum. Decide what inspections you can live without and don’t add in extra clauses.
- Find out the seller’s ideal closing date and use it for your closing date.
- Keep all contractual due dates in as short of time frame as possible.
- Be prepared to offer over the asking price. Money talks and usually the higher price wins.
- Cash offers beat offers with loan conditions. (Unless the offered price is significantly higher than the cash offer). Present a pre-approval letter with your offer if it is based on a loan.
- Even though you may be getting financing, you can write the offer as a cash sale with no loan contingencies. You must be confident you will get the loan with no issues.
- Include a letter to the sellers explaining why you love their house.
Bidding wars are emotionally tough as someone always loses out. Give your best and final offer so you have no regrets if you don’t get the home. Contact me if you want to work with an accredited buyer’s agent to help you navigate the challenges of buying a home. www.DonnaForest.com; Donna@DonnaForest.com; 603-526-4116
You can build your dream home on this beautiful view lot and enjoy the NH way of life! Not only a beautiful view, but a perfect location. Enjoy a walk to Newbury Harbor for a dinner at Bubba's, a swim in Lake Sunapee or just a yummy ice cream! Also a short walk to the town park at Fisher's Field and minutes to skiing at Mt. Sunapee. Land is surveyed, house site is cleared and prepped, driveway is in, current state-approved 3 bedroom septic design available, 2 rock retaining walls have been built, and it is located on a paved town-maintained road. It doesn't get much easier than this! 5.68 acres offered at $96,000.
Donna Forest, Listing Broker, 603-526-4116
Teamwork from the Team that works –Better Homes & Gardens Real Estate - The Milestone Team
If you are thinking about selling, determining the right value is your number one priority. While sometimes it seems the price is picked out of thin air, there really are 3 methods for determining value. Below is a brief explanation of each.
1. Market Analysis - Prepared by a real estate agent to provide an estimate of the probable selling price, expressed as a range. Using similar active and recently sold properties and factoring in the many characteirstics that impact value, it is a guide to help the seller determine a listing price.
2. Appraisal - a much more in-depth analysis done by a licensed appraiser. Typically appraisals are used in the loan process to ensure the value of the home is equal to or greater than the purchase price, thus protecting the lender's interest.
3. Automated Valuation - Used by Zillow and other companies, the value is calculated by software based on mathematical modeling. While convenient, it misses important price influences such as property condition and location (e.g. on a busy street).
Want to know your home's value? Contact me - I just completed a 6 hour class on mastering the market analysis! 25 years in the business and still keeping current - so put my knowledge to work for you! Donna Forest 526-4116, www.DonnaForest.com, Donna@DonnaForest.com
Does your house or yard need a face-lift? These budget-friendly ideas will help you add interest to your home’s exterior—without a high price tag.
Illuminate pathways.
Curb appeal doesn’t have to end when the sun goes down—you can highlight pathways and landscaping with lights. This improves safety and can dramatically boost your home’s nighttime appearance.
Landscape for curb appeal.
Smooth the transition from street to front steps with these inexpensive landscaping ideas. A curved path to the home’s entry provides a pleasing welcome for visitors. Surround a walkway with midsize shrubs and flowers for plant groupings that have serious impact.
Add container plants.
Improve your front yard by turning your home’s entry into an inviting focal point with a few well-chosen plants on the front porch. Vary the container and plant sizes, and arrange them on multiple levels.
Replace old walkways.
Replace a dull or cracked concrete walkway with a fresh path made of stone or brick. Visitors access this front door via square pads of bluestone trimmed with brick. Narrow strips of turfgrass separate the squares, which step up slightly to follow the change in grade from the street to the house.
Get a healthy lawn.
If your lawn is sickly or choked with weeds, consider installing new sod. Remove the old lawn, lay new sod and keep it well-watered for a few weeks.
Create an appealing porch.
If you’re lucky enough to have a sizable front porch, it’s easy to transform it into a simple but inviting outdoor room. Add a swing, chairs or comfortable bench to create a conversation nook. Keep the porch free of clutter and ready for cozy gatherings.
Accent with color.
When repainting, take the opportunity to choose fresh hues or add an accent color to your exterior color scheme. Paint test patches before committing; some colors look great on a sample card but may be too intense for a house.
Restore an asphalt driveway.
To liven up a worn driveway, patch and seal the surface, filling holes and cracks with asphalt patch. Applying a fresh sealer can also make a driveway look new again.
Upgrade the garage door.
Sectional doors often feature windows in an upper panel, and some higher-end versions mimic the look of traditional carriage-house doors. If a new garage door isn’t an option, add character to the building with a pergola, new lighting or fresh paint.
Install a prefab trellis.
For exterior design on a dime, use an arbor or trellis to give form to your yard and complement your plantings.
Power-wash exterior surfaces.
Take a weekend to clean your home’s exterior. Aluminum, wood and vinyl siding are safe surfaces to power-wash, as are wood decks and concrete sidewalks. If you don’t own a power-washer, you can rent one from your local home improvement store.
Coordinate hardware.
Address numbers, mailboxes, locksets and porch lights are simple upgrades. These elements are small but add a lot of finesse to your look. Keep the colors and finishes consistent so the pieces look like an ensemble of accessories, not a batch of mismatched hardware.
Plant trees.
If you’re preparing to sell your house, consider adding a few small ornamental trees. If you’re staying put, think long-term and try oaks, maples, honey locust or other large species suitable for your region. Another option: fast-growing species or small ornamental trees such as pagoda dogwood, redbud, flowering pear, river birch or Japanese maple can add dramatic interest without requiring years to become established.
Beautify the driveway.
The colors and textures of the plants shown here soften the driveway’s expanse and make it look less utilitarian. Groundcovers and low-growing plants are best in beds along the sides (or in the middle!) of the driveway.
Bring style to a slope.
Cheap-looking materials detract from a yard’s appearance. For sloped areas that need terracing, use cut stone or precast decorative wall blocks for a high-end look.
Wow with windows.
There are numerous ways to increase the appeal of your windows. Shutters add style to plain windows, while painted trim in a modern color creates playful contrast. Window boxes filled with lush foliage also bring life to a home’s exterior.
Doll-up the driveway.
For an affordable driveway face-lift, line the pavement with plant containers that can be easily updated each season. Here, solar-powered lanterns between the planters provide flexible lighting.
Source: www.bhgrelife.com
Teamwork from the Team that works –Better Homes & Gardens Real Estate - The Milestone Team
This in-town (but off Main Street), spacious traditional colonial is loaded with appealiing features. The first floor offers both living and dining space, plus an office/den and guest bedroom. There are 4 bedrooms total, an office and separate family room. The kitchen has room for both cook and guests, and opens to the adjacent dining room. Double French doors open directly onoto the deck, fenced backyard and patio/grilling area. The large family room over the garage, provides lots of space for family living on the opposite end of the house, allowing for more quiet in the bedrooms. There is room for everyone to play. The location can't be beat if you would like to be able to walk to school, New London Outing Club Park, and many of the in-town attractions. Offered at $385,000. Listing Agent is related to seller.
Marilyn Kidder, Listing Broker, 605-526-4116
It is spring in the Granite State and the housing market is in full bloom. While we are still experiencing low inventory, buyers are out buying and multiple offers are not uncommon. Like last year, the lack of homes to sell is impacting prices. Statewide in the 1st quarter, the median sales price grew from $260,000 in 2018 to $280,000 in 2019, up 7.7%. The average days on market was 80 days. Sales statewide are down by 2.8%; again due to low inventory.
In the combined towns of Newbury, New London, and Sunapee, 1st quarter sales are about the same. 26 homes sold in 2019; 25 sold in 2018. The average days on market dropped to 145 days vs. 201 days in 2018. The median sales price was $350,250 in 2019 compared to $392,000 in 2018. The higher median sales price in 2018 can be attributed to having 3 sales over $1 million close in the 1st quarter vs. the highest sales price this year was $750,000.
The good news for home buyers is no further rate hikes are expected and the 30 yr. fixed rate mortgage is under 4.5%. Additionally it is still a tight job market which is pushing up income. Bottom line, it’s still a good time to be a buyer or seller so contact me to get your jump on the spring market! 603-526-4116, www.DonnaForest.com, donna@donnaforest.com
Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/18 – 3/31/18 and 1/1/19 – 3/31/19.