The real estate market today seems to be a mixture of news. I checked our Multiple Listing Service for the number of houses sold from January to September 1st and compared them to last year in the 9 area towns. Sales have actually increased by 9% – 152 sold homes in 2010, 139 solds in 2009. The average days on market haven’t seen much change; it takes roughly about 5 months to sell a house (keep in mind that is an average – some take longer, some take less time). And so far, homes are selling for an average of 91% of their asking price – same as last year. If sales activity mimics ‘09, this year may end up ahead of 2009 as the last two quarters in 2009 had the highest number of sales. The tempering factor is that right now there are 484 houses on the market. Basically there is a 2 year supply of homes to sell. The good news? We‘re making slow but steady progress. Fortunately, with NH’s lower unemployment rate and more stable economy, our state is poised to take advantage of market increases when they happen. And for buyers, it’s still a great time to be buying with the wide range of choices and low interest rates. If you’d like to know how sales are doing in your specific town, feel free to contact me!
Donna Forest603-526-4116
RISMEDIA, in their real estate magazine, often offers great tips for both buyers and sellers. An article published in early spring summarized these timeless great suggestions for anyone trying to sell their home from Sandra Rinomato, host of HGTV’s popular “Property Virgins” show. Before staging, the first step is to, “Get it clean, clean, clean,” said Rinomato. “If your house isn’t clean, it instantly sends up negative thoughts that the home is not well maintained. If your house is spotless, you’re ahead of the game,” she said. Next, “stage” your house so “…potential buyers can superimpose themselves and their lifestyle on the house.” Here are her tips: 1. Visit model homes and check out magazines for inexpensive decorating ideas which will appeal to the general public. 2. Home improvement can be as simple as spiffing up the outside with a fresh coat of paint, new shiny hardware on the front door and plant some flowers. 3. Declutter everywhere. This will make rooms look larger, and don’t forget closets. 4. Replace light bulbs with energy-saving, but bright, bulbs. Open or remove curtains. “Light, bright rooms give the impression this is a happy place—and everyone wants to move into a happy place,” said Rinomato. 5. Feature only a few pieces of furniture with broad appeal. Pieces pulled away from walls will make rooms look bigger. 6. Make sure a room’s primary use is obvious. 7. Keep kitchen counters clear; the same for nightstands and bureaus. Clean under the sinks in the kitchen. 8. Minimize the presence of your pets. Deodorize thoroughly. 9. Organize storage spaces. It’s even worth renting a storage locker. 10. When you’re done, call in your friends and REALTOR to get an objective opinion. RISMEDIA, March 19, 2010—(MCT)—(c) 2010, The Orlando Sentinel (Fla.).Distributed by McClatchy-Tribune Information Services.
Bright and open home with Mt. Kearsarge views offering 3 bedrooms and 2 baths. Asking price just reduced from $239,900 to $230,000. Kitchen has excellent work & storage space and tile floor. Living room has access to a large deck for entertaining. Brand new Hearthstone Heritage Soapstone woodburning stove for cozy winter nights. Visit www.472KingHill.com for more photos and details.
While New Hampshire is great in any season, Fall foliage season is undoubtedly one of the most spectacular shows of the year. There are many ways to determine the progress of the foliage, what places are the best to hike or camp in and enjoy the views, where the best outdoor recreation opportunities are during this special time. For your convenience, we’ve listed below a number of websites which you will find most helpful if you are considering traveling to New Hampshire for this spectacular show of color. New Hampshire Fall Foliage GuideNH Fall Foliage ReportsFoliage-Visit New HampshireNH Tour GuideVisit NH We hope you’ll enjoy visiting our wonderful state during this time when it’s showing off its colors…and maybe you’ll decide you want to stay!
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.
Significant price reduction - from $359,000 to $329,000! A farmer's porch provides a welcoming entry as well as a great place to enjoy your morning coffee. Enjoy entertaining and barbeques on the back deck while listening to the babbling Winding Brook. 3 bedrooms, 3 full baths, oak floor, granite countertops, attached 2 car garage with bonus room above. All on 4.4 private acres! Visit www.140WindingBrook.com for more details and photos.
On a hill overlooking Little Lake Sunapee sits a piece of the past. A Jacob’s coat of color paints wicker rockers that shift in gentle breezes along a covered porch. There, as has been true for over a hundred years, guests gaze out across the slow slide of green grass to the quiet waters below. Twin Lake Villa. It was ever thus. Click to Read more, then click on "Articles", "Twin Lake Villa".
First thing is don’t get mad! These may be the buyers (in disguise) you have been waiting for!
Here are some helpful things home sellers should know about “low-ball” offers:
1. First, understand that, in this market, you should be prepared for the possibility of an unacceptably low offer.
Your agent will help you be ready and work with you to agree ahead of time what constitutes a “low-ball” offer on your house. If you have an understanding and a plan ahead of time, it will ease the process.
2. Don’t automatically assume that buyers are trying to be insulting. There are many reasons a buyer might submit a low offer.
A lowball may be all the buyers can afford; it could be an investor looking to steal the property, or a buyer who really likes your property and is just taking a shot at it, never knowing if you're going to say yes or no.
3. If the initial offer seems out of the question, should the seller just ignore it or make a counter?
Even if the offer is so low, you wouldn’t consider selling at that price, make a counter-offer. Keep the negotiation lines open. You never know where it will take you.
4. In such a case, the next move will be revealing.
The smaller the move, the closer the buyer likely is to his goal. A big jump could mean that there is hope of reaching agreement. And you may have found yourself a buyer!
Based, in part, on an article written by Mary Umberger, a freelance writer in Chicago, which appeared in the September 8, 2020, issue of Inman News online.
The news was full of sales data from many sides about the sharp dip which existing-home sales took in July on the heels of the expiration of the home buyer tax credit. However, according to the National Association of REALTORS®, home prices continued to gain.
Existing-home sales, which include completed transactions of single-family, townhomes, condominiums, and co-ops, dropped 25.5 percent from July, 2009. This meant that the seasonally adjusted annual rate was 3.83 million units in July, 2010, vs. 5.26 million in June, 2010. This is the lowest level since May of 1995.
The total housing inventory increased 2.5 percent to 3.98 million homes available for sale (a 12.5-month supply at the current pace, up from an 8.9-month supply in June); however, the median existing single-family home price was $183,400 in July, which is 0.9 percent above a year ago.
Although existing-home sales in the Northeast dropped 29.5 percent to an annual pace of 620,000 in July and are 30.3 percent lower than a year ago, the median price in the Northeast was $263,800, which is up 4.8 percent from July 2009.
Source: NAR
August, 2010