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End of the Year (Almost) Market Update!

HR.Donna_3144As we near the end of 2015, I thought it would be helpful to know how our local market has fared. Looking at the past 11 months, we continue to move in a positive direction. In the 10 area towns, the total number of sales are up 14% from last year. Prices are about the same with the average price of all home sales only being down by 1%. These figures vary from town to town, but the combined data shows forward momentum. For example, in home sales under $1 million - Newbury sales are up 41% from 2014 with the average selling price about equal. Sunapee sales are 3 ahead of last year with the average sales price down 13%. New London’s volume is down 34% but prices are up almost 7%. Nationally, home sales are up 3.9% through October compared to the same time period in 2014. Lawrence Yun, National Association of REALTORS® Chief Economist stated, “As long as solid job creation continues, a gradual easing of credit standards even with moderately higher mortgage rates should support steady demand and sales continuing to rise above a year ago." What does all this mean? Properly priced and prepared homes will continue to sell and waiting to buy will only cost you more money. Contact me if you would like to know the specific sales data for your town!  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 1/1/15 through 11/30/15 and 1/1/14 through 11/30/14.

Known for service, trusted for results – Coldwell Banker Milestone Real Estate.

Reflecting on the 2015 Local Real Estate Market

HR.Donna_3144CroppedAs 2015 comes to an end, I started reflecting on the year and what I’ve observed. I thought it might be helpful for buyers and sellers if I shared a few thoughts. In no particular order, here are my words of wisdom!

  • Most buyers don’t want a project. They don’t have the inclination to fix up a house. Sellers need to repair/ update their homes in order to sell.
  • Sellers should disclose everything; good and bad. Not disclosing will end up costing you.
  • Location, location still holds true. Today’s buyers want to be near amenities and closer to town. Rural areas hold less appeal; targeting about 11% of the buyers.
  • Antique homes take longer to sell - only about 8% of the buyers are looking for one.
  • If you wait to find the “perfect” home to buy, you will never find a home.
  • Home prices have risen since 2013. You will end up paying more for a house the longer you wait to buy.

And lastly, it still is a good time to purchase a home. Low pricing, historically low rates, and good inventory combine to make perfect buying conditions. Thinking of buying or selling? Give me a call!  Donna Forest 603-526-4116, www.donnaforest.com, donna@donnaforest.com

You’ll be moving in the right direction with Coldwell Banker Milestone Real Estate.

Want Maintenance-Free Living?

Make your appointment today to view this very unique and special Hilltop Place condominium.  Great location, convenient yet private.  The backyard abuts approximately 29 acres of the common land surrounding the Great Pines neighborhood and provides an inviting area to woldlife, including turkey, deer, hawk, owls, blue heron, and an occasional beaver.  Nearly 1.800 sq. ft. of flowing living space including a gracious living room with fireplace, adjacent large dining area, cozy sitting area and sunroom facing the privacy of the back yard.  Master bedroom with private bath plus guest bedroom.  Attached garage.  $715 monthly condo fee and $3,500 buy-in at closing.  Offered at $178,000.  For more photos and details, visit www.nhhilltopcondo.com.

037Marilyn Kidder, Broker/Owner, Listing Agent

603-526-4116

“Word of Mouth” is the best advertisement, and we love it when you refer your friends and family to Coldwell Banker Milestone Real Estate.

Homeowners Insurance: Time for an Annual Checkup

It’s time for your annual check-up. The good news is that for this one, you won’t have to don one of those revealing hospital gowns — and you may walk away with a healthier pocketbook. We’re talking about a homeowners insurance check-up, a task you should complete once a year, ideally around renewal time. This will ensure your policy still provides the right level of coverage for your family, and your premium isn’t costing you more than it should. Remember, homeowners insurance is essential. The coverage is designed to protect your home and its contents, as well as shield you from liability for accidents and such on your property.

Block out an hour of your time, call an insurance agent, and get answers to these three important questions.
What type of coverage do I have? The most effective type of coverage is known as “replacement cost,” which covers, up to your policy limits, what it would take today to rebuild your house and restore your belongings, says Jerry Oshinsky, a partner at Jenner & Block in Los Angeles who has represented homeowners in litigation against insurers. “Extended” replacement cost coverage provides protection to your policy limit, say $500,000, and then perhaps another 20% of the cost after that. Percentages vary, but in this example you could recoup up to $600,000 on a $500,000 policy, assuming your losses reach that high. Extended coverage can compensate for any unanticipated expenses like spikes in construction costs between policy renewals. Now harder to find due to the industry shift toward extended replacement coverage, “full” or “guaranteed” replacement coverage covers an entire claim regardless of policy limits. A less attractive alternative is “actual cash value” coverage that usually takes into account depreciation, the decrease in value due to age and wear. With this type of policy, the $2,000 flat-screen TV you bought two years ago will be worth hundreds of dollars less today in the eyes of your claims adjuster. Kevin Foley, an independent insurance broker in Milltown, N.J., favors replacement cost coverage unless you can save at least 25% on the premium for going with actual cash value coverage instead. Even if you have replacement cost protection for your dwelling and personal property, don’t assume everything is covered. Structures other than your home on your property — such as a detached garage or swimming pool — require separate coverage. So too do luxury items like jewelry, watches, and furs if you want full replacement cost because reimbursement for those items is typically capped. How much coverage do I really need? OK, now that you’re clear on what type of policy you have, you need to figure out how much policy you truly require in dollar terms. Let’s say you purchased your home five years ago and insured it for $200,000. Today, it’s worth $225,000. Simply increasing your coverage to $225,000 may nonetheless leave you underinsured. Here’s why. The key to determining how much dwelling coverage you need isn’t the value of your home but the money you’d have to pay to rebuild it from scratch, says Carlos Aguirre, an agent for Liberty Mutual Insurance in Arlington, Texas. Call your local contractors’ or homebuilders’ association and inquire about the average per-square-foot construction cost in your area. If it’s $150 and your home is 2,000 square feet, then you should be insured for $300,000. There’s no rule of thumb for how much your homeowners insurance should cost. Insurers use numerous factors—age, education level, creditworthiness—to determine pricing, so the same policy could run you more than your neighbor. In recent years the average annual premium was $804. Oshinsky advises against scrimping on insurance because big increases in coverage probably cost less than you’d think. He recently purchased a liability policy that cost $250 for the first $1 million in coverage. Adding another $1 million increased his premiums only $12.50 more. How can I lower my premiums? The higher your deductible, the amount you pay out of pocket before coverage kicks in, the lower your premium. Landing on the appropriate deductible level requires remembering that insurance should cover major calamities, not minor incidents, says Foley, the independent insurance broker. Most homeowners should be able to absorb modest losses like a broken window pane or a hole in the drywall without filing claims. If you can, then you’re wasting money with a $250 deductible. Foley’s rule: If you’re a first-time homeowner and don’t have a lot of savings, moving up to a $500 deductible will probably stretch your budget. However, if you live in a ritzy home and drive an expensive car, then you should be able to afford a $1,000 deductible. In Milltown, N.J., for example, the premium for a $200,000 home with a $500 deductible would be $736, according to Foley; moving up to a $1,000 deductible drops the annual premium to $672. That’s $64 in savings. Every major insurer offers discounts to various groups, such as university employees or firefighters. Figure about 5%. Ask which affiliations would entitle you to a discount and how much. If an AARP membership would result in a $50 savings, pay the $16 dues and pocket the $36 difference. Many insurers also offer discounts ranging from 1% to 10% or more for installing protective devices like alarms and deadbolt locks, for going claim-free for an extended period, or for insuring both your car and your home with the same carrier.
Visit Houselogic.com for more articles like this.  Reprinted from Houselogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

Looking to Close Your Home Quickly? New Time Clock for Closings

HR.Donna_3144CroppedA new rule from the Consumer Financial Protection Bureau went into effect Oct. 3 requiring lenders to give consumers more time to review their loan documents. Mortgagors must give borrowers the terms of their loan and final charges & fees at least 3 days before the closing (7 days if sent by mail). It is designed to protect you from surprises at the closing table. Sounds pretty simple, right? Well the reality is, it is a massive change in the way lenders do business from new forms to new timetables. The 3 day period is mandatory and this waiting period can start over again if one of 3 changes occur: 1) The annual percentage rate increased more than 1/8th; 2) The loan product changes like switching from a fixed rate to an adjustable; or 3) A pre-payment penalty is added. Other alterations don’t require a new 3-day review like revisions to taxes, utility prorations, etc. Until lenders have some time under their belt in dealing with these new regulations, buyers & sellers need to be prepared. 60 day closings may be the normal, last minute changes most likely will not be authorized, required paperwork will need to be completed earlier, and buyers & sellers should have a backup plan in the event something triggers a new 3-7 day waiting period and you can’t close as scheduled. Contact me if you are looking to work with a knowledgeable REALTOR® who can help you successfully navigate the buying or selling process!  Donna Forest, Broker Associate, 603-526-4116, www.DonnaForest.com, donna@donnaforest.com.

Known for service, trusted for results – Coldwell Banker Milestone Real Estate.

Looking for a Distinguished Home in New London, NH?

This stately colonial could be it!  It's sited on a 2.5 acre beautifully landscaped lot, well back from the road with a country vs in-town feeling.  It offers the best of privacy, plus convenience to services, shops, entertainment, restaurants, and activities at Colby Sawyer College.  The house is airy and flooded with south and west light.  The layout is very well-planned and living areas are very spacious.  The rooms lend themselves easily to a variety of uses.  It's a wonderful place to entertain family and friends and has a cozy fireplace area for wintry nights.  Sit on your back deck and see almost nothing but gardens and trees!  A wonderful combination of features.  Offered at $440,000.  For more information and photos, visit www.VillageColonialNH.com

ReynoldsMarilyn Kidder, Listing Broker, 603-526-4116

Real estate markets are local, and we have the real scoop on ours. Coldwell Banker Milestone Real Estate

Significant Price Reduction!

Now offered at $100,000 BELOW recent appraised value!  If it weren't for its very distinctive fencing, the hint of beautiful landscaping over the fence, and its blue standing seam roof, this charming and inviting 1840 cape might remain unnoticed among its peers on New London's Main Street.  However, behind the fence is a warm and welcoming four bedroom, four bath home with three fireplaces, many original doors with iron hardware, traditional moldings, wainscoting, and a variety of mostly wood floors throughout.  Wonderful views of Mt. Kearsarge across the back fields and lots of space to enjoy the outdoors, including a Gunite pool.  Was $685,000, now $635,000. For more photos and details, visit www.NHAntiqueCape.com

??????????????????????????????????????????????????????????????Marilyn Kidder, Listing Broker, 603-526-4116

You’ll be moving in the right direction with Coldwell Banker Milestone Real Estate.

Halloween Happenings!

Halloween2Halloween trick-or-treating in the town of Sunapee will be held Saturday, 10/31/15 from 5-8pm.  Central Street will be closed to traffic to allow children to go from house to house safely.  Check out more ghosts and goblins by the riverside and join the Tailgate trick-or-treating.  Cross over the covered bridge and take a stroll through the haunted woods to have your fortune told, if you dare! New London will host their Haunted Woods on Friday, October 30.  From 5:30-6:30pm the young children can trick or treat then walk through Spring Ledge to the corn maze.  From 7:30-8:30pm the scarier version of the haunted woods will begin and is recommended for ages 12 and up.  The haunted walk takes place behind the old Kearsarge Middle School and is free of charge. Regular trick-or-treating in New London is October 31 from 4:30-8:30pm. Click here for a complete list of NH Trick-or-Treat times. Enjoy and stay safe!

Five Ways to Scare Off Buyers

HR.Donna_3144CroppedGhosts and goblins are not the only scary things this time of year. I’ve been out showing homes lately and have run across a number of buyer turn-offs. Here are some sure-fire ways to leave buyers screaming in horror (OK – I exaggerate a little, but you get the picture).

  1. Ignore home maintenance. Nothing like a really old roof or rotted siding to indicate there are probably more problems lurking around.
  2. Over-decorate. Have tons of family photos and personal collections scattered around. No need to help buyers envision themselves in your house. 
  3. Keep lots of furniture stuffed into the rooms. Buyers like small rooms, right?
  4. Sell your house empty. It’s not about the emotion. (Or is it?)
  5. Don’t bother with cleaning. Who cares about smudged windows, dirty switch plates, and black grout in the shower?

Selling a home is not easy and requires preparation in order to sell for the most money and in a reasonable time frame. Contact me to work with someone who can help you avoid buyer turn-offs. It pays to do everything right. Donna Forest, Broker Associate, 603-526-4116, www.donnaforest.com, donna@donnaforest.com

Looking for a Building Lot?

Here's an incredible value for the price!  Wooded lot with stone walls in back, adding a typical touch of New England.  Nice Neighborhood setting and located on a quiet dead-end road.  Under 7 miles to Mt. Sunapee Ski Resort and about 1 miles to I-89.  Snowmobile trails nearby for winter fun.  For the bargain priced buyer, this lot is worth a look. Abutting lot also available for the same price. Offered at $22,500.

86 5140Donna Forest, Listing Broker, 603-526-4116

Teamwork from the Team that works – Coldwell Banker Milestone Real Estate.

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