Excellent conditions, both in terms of weather and purchasing leverage, lifted first quarter residential home sales to its highest level since 2007, according to data released by the New Hampshire Association of Realtors. Low snowfall totals, combined with low prices, low interest rates and relatively high inventory, opened the door for 2,223 homes to be sold in the first three months of 2012, a 17 percent increase over the 1,903 sold through March 31 in 2011. Median price on those sales, meanwhile, dropped nearly five percent, from $197,500 in the first quarter of 2011 to $188,000 in the same period 2012. “This is about supply and demand, and it’s about home prices continuing to adjust to a market that has been favoring buyers for several years now,” said NHAR President John Rice, a 40‐year veteran of the real estate industry and an agent with Tate & Foss Sotheby’s International Realty in Rye. New Hampshire residential sales for March‐only were also ahead of last year’s pace by 17 percent, from 769 in 2011 to 896 in 2012. Median price in March 2011 compared to March 2012 declined 3 percent, from $195,000 to $188,750. In terms of local markets, each of the state’s 10 counties saw unit sales increases in the first quarter compared to the same period a year ago, including a 65 percent gain in Sullivan County, 42 percent in Coos County, 31 percent in Cheshire County, and 18 percent in the state’s largest, Hillsborough County. Only Merrimack and Coos counties showed first quarter median price increases. March 2012 data residentialMarch 2012 data condo-1 Rice said he believes the surge in sales is likely to mean the beginning of the end of dropping prices. “That’s just fundamental, free market principles,” he said. “More sales equals less inventory, which eventually equals higher prices. “In future years we’ll look back and be able to pinpoint when prices stabilized. We can’t know that point while we’re going through it, but if this pace keeps up, I can’t imagine we’re too far from it right now.” Source: Press Release, New Hampshire Association of REALTORS®, Dave Cummings, Director of Communications
Beautiful 5 bedroom, 3 bath home has been remodeled, keeping the charm of an old cape, but all upgraded material and addition. Exposed beams, pine floor, antique looking bath fixtures and light fixtures and much more to give this house the relaxed, homey feel it boasts. Nicely sited on 4.5 acres. Offered at $950,000. Visit www.CountryCape.com for more details and photos.
Jane Snow, Listing Agent
1. Don’t overprice. It’s the kiss of death. 2. Don’t choose the agent who gives you the highest price and lowest commission. They are just “buying” your listing. See #1 above. 3. Not prepping your property for sale. Clean, de-clutter, paint, landscape, stage the house, etc. 4. Ignoring maintenance and repair items. These will ALWAYS come back to haunt you. It stops buyers from making offers, it kills sales at inspection time, or selling prices are negotiated lower to deal with these issues. 5. Making decisions based on emotions. When your house goes on the market, it has become a commodity and not your home. 6. Listening to the advice of friends and neighbors instead of your agent. Your agent is a professional in the business of selling – your friends are not. Looking for a REALTOR® to help you avoid these big mistakes and others? Then give me a call! 603-526-4116
Donna Forest, Broker Associate
This light-filled Post & Beam home will inspire you to sell your home in a hurry! 3 bedrooms, 2 baths, open kitchen and dining area, lots of windows to look out to the beautiful gardens and mature landscaping. Offered at $369,500. For more photos and details, visit www.90FernwoodPt.com. Give Stacey Viandier a call for your showing today. 603-526-4116
Stacey Viandier, Listing Agent
A superior lake home with no detail left untouched. The kitchen has all the appliances for any great chef. The fireplaces will keep you toasty on a chilly night. Three floors of living space leaves plenty of room for large gatherings. There is a library, game room, in-home theater, breakfast room - all made with the finest of materials. Outside has mature landscaping with incredible stone work and patios. Over 360 ft. of waterfront and 2 docks. Come see what Lake Sunapee has to offer you.
Visit www.LakeSunapeeLuxury.com for photos and details.
Jane Snow, Listing Agent
If your house has been on the market longer than expected with 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 and look at recent solds and new listings. Where does your house fit into this market data? It may be time for a price reduction.
- Condition – Look at your house through buyers’ eyes. Spruce up, fix problems, de-clutter.
- 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.
- Marketing Plan – Review where your property is being marketed with your agent. Look for heavy internet exposure with lots of photos & make sure it looks good in the Multiple Listing Service as well.
It’s also important to have realistic expectations about how long it takes to sell – find out the average days on market for similar houses in your price range. If you’re looking for an experienced REALTOR® who has the expertise to get your home sold, then give me a call, 603-526-4116.
Donna Forest, Listing Broker
Enjoy maintenance-free living and an easy walk to shopping and post office. Second floor two bedroom, 2 bath unit is light and bright with long balcony off the kitchen and guest room. Overlooks meadow and pond. For more information and details, visit www.96Hilltop.com. Offered at $100,000.
Chris McKee, Listing Agent
Historically, our spring is heralded by the arrival of buyers, starting to look for their new home so they can be settled in before school starts again or if a vacation home buyer, be able to enjoy the summer season. This spring is different. Why? Due to the mild winter, buyers have already been out buying for months. And the homes that are selling are the ones that have a compelling price to attract buyers. Smart investors are snapping up the bargains. Overpriced inventory doesn’t stand a chance. Indicators are that home sales will increase in 2012. This does not mean that home prices will increase as well. Supply still exceeds demand. The Home Price Expectation Survey asked 104 leading industry experts where they thought prices would be at the end of 2012. These experts believe prices will depreciate by about 1%. Bottom line, if you are a buyer or a seller, it won’t pay to wait. If you are looking for an expert to guide you thru the buying or selling process, then give me a call! 603-526-4116; donna@donnaforest.com; www.donnaforest.com
Beautiful, custom designed home in the Oakledge Community in Sunapee, NH offers an open, warm feeling with good-sized rooms. 3+ bedrooms, 4 baths, low maintenance exterior. Oakledge amenities include clubhouse, tennis and 1400 ft. of shared lake frontage with beaches and decks. Was $925,000, now $895,000. Visit www.LakeSunapeeAccess.com for
Home sales activity in the Granite State saw a February increase of 13 percent compared to February 2011, according to data released recently by the New Hampshire Association of Realtors (NHAR). The state’s Realtors reported 661 residential sales last month, compared to 585 in February 2011. It marked the third consecutive year to see a February increase and was the most February sales since 2007. The median price for statewide home sales, meanwhile, fell nearly 3 percent for the month, from $185,000 in February 2011 to 179,900 in February 2012. Year to date (January and February), unit sales were ahead of last year’s pace by 16 percent, while median price for that period was down 6 percent. “We still have more inventory than you’d find in a balanced market, and that’s continuing to keep prices down,” said NHAR President John Rice, a 40-year veteran of the real estate industry and an agent with Tate & Foss Sotheby’s International Realty in Rye. “As sales increase and inventory decreases, we’ll gradually move out of this decidedly buyer-friendly market. We’re still in the early stages of that process.” In terms of local markets, all but one of the state’s 10 counties saw unit sales increases in February compared to a year ago, including a 23 percent jump in Hillsborough, the state’s largest county. And despite the overall February decrease in median price, six of the 10 counties saw increases, including a 5 percent uptick in Hillsborough County, from $190,000 in 2011 to $200,000 in 2012. February 2012 data residentialFebruary 2012 data condoSource: Press Release, Dave Cummings, New Hampshire Association of REALTORS® Director of Communications