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
Two bedroom cottage within walking distance of Sunapee Harbor offers a dock right across the street on Lake Sunapee. Imagine strolling out your door to take a quick boat ride on a warm summer's evening. Price reduced from $299,900 to $279,900. For more information and photos, please visit www.110LakeAve.com.
As winter approaches, you will want to take steps to insure that your property is prepared for the weather. If your property is seasonal and not winterized, here are some specific items to address:
- Turn off non-essential utilities
- Secure all windows and doors
- Turn on the alarm system
- Close storm shutters
- Dispose of trash and perishable foods
- Bring in outdoor furniture
- Unplug appliances and electronics
- Drain water lines to prevent freezing
If there are concerns about vandalism, you might want to consider installing a home security system. Another alternative is to hire a local caretaker who will regularly check on your property; look for good references and be sure the individual is bonded and insured.
By having a systematic approach to shutting down your seasonal vacation home, you can avoid expensive and unexpected repairs when you open up in the spring.
Source: National Association of REALTORS, homelogic.com; Donna Fuscaldo, author
In addition to covering the Sunapee area and New London area, the Lake Sunapee VNA, founded in 1920, also brings their services to the following communities in Merrimack, Sullivan and Grafton Counties: Andover, Bradford, Claremont, Croydon, Danbury, Enfield, Goshen, Grantham, Lebanon, Lempster, Newbury, Newport, Salisbury, Springfield, Sutton, Unity, Warner, Washington, and Wilmot. Their mission statement describes their commitment: “Lake Sunapee Region VNA & Hospice provides comprehensive, high quality health care services, within its financial resources, to support the dignity and independence of individuals and families in community settings. Commitment to innovation and collaboration with health care providers and community members promotes a supportive work that enhances this mission of excellence.” Services to their communities include: Home Care and Long Term Care Health Education Wellness and Social Services Physical and Speech Therapy Occupational Therapy Hospice Pediatric Programs Home Tele-monitoring Medication Monitoring Community Clinics and Personal Support Services Provided through their “…network of registered nurses, licensed practical nurses, licensed nursing assistants, medical social workers, homemaker/ companions, and physical and occupational therapists.” The Lake Sunapee Region VNA and Hospice is an incredible asset to our area. For more information, visit their website at: Lake Sunapee Region VNA & Hospice