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By: G. M. Filisko Published: February 10, 2010 A solid game plan can help you narrow your homebuying search to find the best home for you. 1. Know thyself Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors? 2. Research before you look List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view. 3. Get your finances in order Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing. Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers. 4. Set a moving timeline Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines. 5. Think long term Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now. 6. Work with a REALTOR® Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality. Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century. 7. Be realistic It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded. On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home. 8. Limit the opinions you solicit It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important. More from HouseLogicHOAs: What You Need to Know About RulesA Financial Plan for Your HomeWhen It Pays to Do It Yourself G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics. Visit Houselogic.com for more articles like this.  Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Article By: G. M. Filisko

Published: March 11, 2010

By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.

1. The general rule of mortgage affordability

As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you earn $100,000, you can typically afford a home between $200,000 and $300,000.

To understand how that rule applies to your particular financial situation, prepare a family budget and list all the costs of homeownership, like property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care costs.

2. Factor in your downpayment

How much money do you have for a downpayment? The higher your downpayment, the lower your monthly payments will be. If you put down at least 20% of the home's cost, you may not have to get private mortgage insurance, which costs hundreds each month. That leaves more money for your mortgage payment.

The lower your downpayment, the higher the loan amount you’ll need to qualify for and the higher your monthly mortgage payment.

3. Consider your overall debt

Lenders generally follow the 28/41 rule. Your monthly mortgage payments covering your home loan principal, interest, taxes, and insurance shouldn’t total more than 28% of your gross annual income. Your overall monthly payments for your mortgage plus all your other bills, like car loans, utilities, and credit cards, shouldn’t exceed 41% of your gross annual income.

Here’s how that works. If your gross annual income is $100,000, multiply by 28% and then divide by 12 months to arrive at a monthly mortgage payment of $2,333 or less. Next, check the total of all your monthly bills including your potential mortgage and make sure they don’t top 41%, or $3,416 in our example.

4. Use your rent as a mortgage guide

The tax benefits of homeownership generally allow you to afford a mortgage payment—including taxes and insurance—of about one-third more than your current rent payment without changing your lifestyle. So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment.

Here’s an example. If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.

However, if you’re struggling to keep up with your rent, consider what amount would be comfortable and use that for the calculation instead.

Also consider whether or not you’ll itemize your deductions. If you take the standard deduction, you can’t also deduct mortgage interest payments. Talking to a tax adviser, or using a tax software program to do a “what if” tax return, can help you see your tax situation more clearly.

More from HouseLogic

More on the mortgage interest deduction

More on the tax advantages of homeownership

Other web resources

A worksheet on home affordability

Freddie Mac information on home affordability

G.M. Filisko is an attorney and award-winning writer who’s owned her own home for more than 20 years. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics. Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

When:  Saturday, February 26^th from 8:30 a.m-11:30 a.m. Where:  Tucker Mountain Maple Co-op 224 Tucker Mountain Rd. Andover, NH This event is being co-sponsored by the New Hampshire Timberland Owners Association and the UNH Cooperative Extension.  There is a $10 fee for members of NHTOA/NHTHC and $15, for non-members. This is a perfect course for hobby or backyard maple producers who might be thinking about expanding or upgrading their operations.  This is a hands-on workshop covering such subjects as:  sugarhouse design and safety, “professional” evaporator designs and sizing, tubing fundamentals, filtering and canning options, etc. Dress accordingly, as the class will be in the sugarhouse and outside in the woods.  With a little luck, there might even be some sap to boil! To sign up, call:  603-224-9699 Class size is limited to 20, so call early!

As reported in the REAL Trends Update #1275 on February 1^st, the number of properties going under contract nationally continue to increase.  Through December, the numbers have gone up in five of the last six months (although this past December was 4% below a year ago).  The fact that the contract activity is fairly steady indicates that the sales volume is approaching a “sustainable, healthy volume” in the range of 5.5 million sales. The media reporting of the reality of “modest gains” in the job market and other indications of an improving economy are giving consumers some confidence to seriously pursue the purchase of a home.  The housing affordability conditions continue to be excellent for those active buyers, as there is still a great selection in inventory, sellers are motivated, and interest rates are still very appealing (and expected to rise only modestly over the first quarter and into the second). The article further reports that buyers shouldn’t expect to see continuing falling prices in all areas, as the median existing home price actually rose 0.3% in 2010.  Predictions are for a flat or slight rise in this median selling price over 2011.  The expectation is that home sales will rise about 8% to 5.3 million which brings it closer to what is considered a healthy, sustainable level of about 5.5 million.

A substantial majority of both home owners and current renters agree that owning a home is a smart decision over the long term. That’s according to the results of a National Association of REALTORS® survey of 3,793 adults conducted online by Harris Interactive.

The American Attitudes About Homeownership survey found that in today’s challenging economy, 95 percent of owners and 72 percent of renters believe that over a period of several years, it makes more sense to own a home. In addition, an overwhelming majority of home owners are happy with their decision to own a home – 93 percent of owners surveyed would buy again.

“Home owners and renters agree that home ownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy,” said National Association of Realtors® President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “The results of this survey illustrate just how important issues related to home ownership are to people in this country.”

The survey uncovered some differences between home owners and renters, as well. While more than half of owners are “very” or “extremely” satisfied with the overall quality of their family life, only one-third of renters report the same levels of satisfaction. Similarly, 43 percent of home owners are very/extremely satisfied with their community life, compared with 30 percent of renters.

A majority of renters – 63 percent – said that it was at least somewhat likely that they would purchase a home at some point in the future. Among this group, young adults (18-29 years old) have the strongest aspirations for home ownership; only 8 percent of young adults said that it was “not at all likely” that they would purchase a home at some point in the future.

In today’s market, many aspiring home owners are faced with worries about job security and creditworthiness. Among renters who are very or extremely likely to buy a home in the future, three out of five consider confidence in job security and creditworthiness to be an obstacle.

One point of agreement between renters and home owners was support of the mortgage interest deduction (MID). Seventy-four percent of owners and 62 percent of renters say it’s “extremely” or “very” important that the MID remain in place.

“At a time when the middle class is under increasing economic pressures, both home owners and renters agree that the mortgage interest deduction should not be targeted for change,” said Phipps. “Given strong public support of and aspirations toward owning a home, we need to keep policies in place that support and encourage responsible, sustainable home ownership for our future.”

This survey was conducted online within the U.S. and fielded October 6-20, 2010. A total of 3,793 adults, 18 and older were surveyed, including 1,880 home owners, 1,115 renters, and 798 young adults. All samples came from the Harris Poll online database and were weighted for age, sex, race/ethnicity, education, region and household income to be representative of the U.S. general population of adults 18 and older. Propensity score weighting was also used to adjust for respondents’ propensity to be online.

Results are available online at www.realtor.org/statsanddata/homeownership/attitudes_homeown.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

###

Source: National Association of Realtors, January 19, 2011.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

Spring Ledge Farm in New London, NH will be open Friday the 21st from 3-6pm (yes, even with this snowy weather).  Home grown potatoes (available in bulk as well), garlic, micro mix, beets, turnips & winter squashes and the best sweet potatoes you've ever tasted. Locally grown and raised offerings include Lamb, Beef, Eggs, Honey, Maple Syrup, Cheeses, Ice Cream, Cookies and Bread.   Lamb from Hopewell Farms in Newbury, NH.  Grass fed, true lamb raised on the fields at Hopewell Farms.   This week, we'll have leg of lamb, ground lamb and rib chops.  Next week there should be more cuts available.   _________________________________________________________ Orchids by Crozer & Crozer - Katie Crozer will bring a great assortment of orchids in bloom. Orchids are especially beautiful this time of year, and the blooms last for months.  Have a question about orchids?  Ask Katie. _________________________________________________________ 2010 marked Spring Ledge Farm's year of growing sweet potatoes.  Mother Nature provided a perfect summer for this crop - hot and dry.  New varieties of sweet potatoes include 'Baeurigard' and 'Covington', both bred to mature between 90-105 days.  This is a shorter days to harvest than other sweet potatoes, which allows them a chance here in N.H. to grow a successful crop, even with our short summers They received the "seeds" as small slips of plants.  Slips are small sprouts of the potato that do not yet have roots.  They planted them immediately into the field on June 1st.  They were planted  through a black plastic layer of mulch, which warms the soil, retains moisture and keeps the weeds down.  Plants were spaced 12" apart in rows that were 6 feet apart. They will have sweet potato slips available for purchase this spring, so you can try growing some in your garden this summer. Sweet potatoes are in the Ipomea family, the Morning Glory family.  They are a vine that mounds and spreads out over the ground as it grows.  In fact, dozens of varieties of sweet potatoes are used as ornamental plants and grown as annuals.  They look great in hanging baskets, in mixed window boxes or in the garden beds.  And yes, they also produce a sweet potato tuber, albeit smaller and a little less sweet.  Here is a link to a few varieties that are in the Proven Winners line of plants. With last summer's heat, the vines filled out the rows by mid summer and continued growing until they were harvested just before frost, in late September.  They were cured  in a dry greenhouse and packed  into boxes which were carried down to the cellar. In the cellar they are at just the right temperature and humidity for storage, along with their other storage potatoes.  They keep the farmstand stocked with sweet potatoes, ready for your kitchen and table. Sweet potatoes are a fantastic source of Vitamin A, Vitamin C and fiber.   Below are a few recipes for sweet potatoes, with hundreds more available at this site, appropriately named as "sweetpotatorecipes.net". _________________________________________________________ Sweet Potato and Chicken Empanadas You need:

1 lb Spring Ledge Sweet Potatoes

2 cooked chicken breasts, shredded

1 large Spring Ledge onion

1 clove Spring Ledge garlic

2 t. ground cumin

1 t. ground coriander

1 t. cinnamon

Olive oil, salt and pepper

1 package frozen puff pastry sheets

Peel and chop sweet potatoes into ½ inch cubes. Toss with olive oil, salt & pepper. Roast at 350 until soft, about 20 minutes. Heat 2 T olive oil, add spices and cook 2 minutes.  Add onion and garlic, cooking until soft. Add chicken and cooked sweet potatoes. Thaw the puff pastry sheets and cut each in half. Spoon in as much filling as you can and still fold the top over, pressing the edges together. Bake at 350 20-25 minutes until browned. _________________________________________________________ Sweet Potato Fries  You need: Many Spring Ledge Sweet Potatoes Olive Oil salt pepper Any other spices you feel like such as cajun, rosemary, or seasoned salt. Preheat oven to 425. Cut sweet potatoes into desired sized pieces. Toss with the olive oil and seasonings. Spread on a baking sheet and bake for 20-30 minutes or until soft, turning once.

Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®. Existing home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 million in November, but remain 2.9 percent below the 5.44 million pace in December 2009. Lawrence Yun, NAR chief economist, said sales are on an uptrend. “December was a good finish to 2010, when sales fluctuate more than normal. The pattern over the past six months is clearly showing a recovery,” he said. “The December pace is near the volume we’re expecting for 2011, so the market is getting much closer to an adequate, sustainable level. The recovery will likely continue as job growth gains momentum and rising rents encourage more renters into ownership while exceptional affordability conditions remain.” The national median existing-home price for all housing types was $168,800 in December, which is 1.0 percent below December 2009. Total housing inventory at the end of December fell 4.2 percent to 3.56 million existing homes available for sale, which represents an 8.1-month supply at the current sales pace, down from a 9.5-month supply in November. NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said buyers are responding to very good affordability conditions despite tight mortgage credit. “Historically low mortgage interest rates, stable home prices, and pent-up demand are drawing home buyers into the market,” Phipps said. “Recent home buyers have been successful with very low default rates, given the outstanding performance for loans originated in 2009 and 2010.” Regionally, existing-home sales in the Northeast jumped 13.0 percent to an annual pace of 870,000 in December but are 5.4 percent below December 2009. The median price in the Northeast was $237,300, which is 1.4 percent below a year ago. The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries. Source:  From the National Association of REALTORS, Washington, DC, January 20, 2011

Now that the snow has arrived, there are tons of ways to get outside and enjoy it.  One of the most satisfying is to hit the trails at one of our nearby cross-country centers.  The information below is from the web site and directory of the Cross-Country Ski Areas Association.  The most local areas are listed alphabetically.

1/Dartmouth Cross Country Ski Center has two facilities: one based out of the DOC House on Occom Pond, which provides equipment rentals for skiing and other activities; the other is at Oak Hill, located two miles north of Hanover, where group and private cross-country ski instruction and rentals are offered.

Area Facts

Trail Passes

Other Amenities

• Snowshoeing
• Lessons
• Ski Rentals
• Snowshoe Rentals
• Ice Skating

2/Dexter's Inn Trails by Norsk 258 Stagecoach Rd Sunapee NH 03782 Main phone: 603-763-5571  Snow conditions and lodging: 800-232-5571 dexters@tds.netwww.dextersnh.com Opened for skiing in 06-07 to enthusiastic reviews. Trail system, originated in 1948, has been completely renovated & updated. Over 20 groomed Km and a loop for leashed dogs. Trails are unique, winding their way through forests & fields. A must-try for ski tourers! Classical parallel track skiing only. No skate skiing. The Inn offers comfortable accommodations, a cozy warming room with fireplace, food service, and a welcoming atmosphere. Full operation on weekends & holidays. The best way to see what we've done is to visit our website. Trails and ski services: Ski rentals; ski lessons PSIA; changing room; wax room; pulk sled rental; 35km snowshoe trails; snowshoe trails are shared with skiers; snowshoe rentals; 1km dog trails

Pine Hill Ski Club, Inc. is a community-based ski organization located in New London. The parking facility is located three miles from the Lake Sunapee Country Club at Mountain Road off Shaker Street. Children under 12 are free when accompanied by adult. Rentals available at Village Sports, New London, NH 603-526-4948 Area Facts

Trail Passes

Other Amenities

• Snowshoeing
• Lessons
• Ski Rentals
• Snowshoe Rentals
• Dogs permitted on some trails.  See pinehillskiclub.com for details.

Michele Lerner, author of Homebuying: Tough Times, First Time, Any Time, offers reasons why real estate is likely to improve in 2011.  Here are five reasons she thinks consumers should consider a home purchase this year: ▪ Mortgage rates will stay low.  Even with rates climbing — maybe to as high as 6 percent by 2012 — they are still well below where they have been historically. ▪ Tax cuts could help. Extending the tax cuts could encourage a more rapid recovery for the economy. ▪ Americans want to be home owners.  A recent Fannie Mae survey showed that Americans still believe a home is a safe and desirable investment. ▪ Builders are about to begin building. Home builders have been sitting on the sidelines.  This year, they think pent-up demand will create an appetite for new homes. ▪ Homes are shrinking.  Homes are getting smaller, which has made them more affordable. Source: Investopedia, Michele Lerner (12/24/2010)

Friday, January 14th will be the opening hike for a series of Friday winter walkabout hikes on the Sunapee-Ragged-Kearsarge Greenway.  On the 14th, starting in Springfield, NH, at Baptist Pond, the walk will go past Snow Bound Farm and Star Lake Farm to NH 114.  Distance 4.1 miles.  Time c. 3 hours.  An easy walk or snowshoe.  This is SRK Greenway Section #4 in the SRKG Trail Guide. This starter hike/walk is followed on 21st January with a moderate, woodsy hike in Newbury from Chalk Pond to Newbury and its Lake Sunapee Harbor.  Subsequent Fridays will get longer and more difficult. The idea is to hike sections of the SRK Greenway every Friday through March 18th, although not necessarily in section sequence. IF INTERESTED: Reply to geecubed@yahoo.com for info on time and place. Lee Carvalho of Andover and Gerry Gold of New London are co-leaders for the time being.  There are 10 Fridays and do not plan to complete all 14 sections this winter. It’s been a few years since a planned Winter Walkabout of the Greenway’s 14 sections was last announced.  Aside from the exceptionally impressive certificate awarded to hikers who complete the circuit in winter, the trails and hills and valleys (and road walks) have special beauty and vistas in winter. These Friday hikes are open to Sunapee-Ragged-Kearsarge Greenway Coalition “friends and family” looking to begin or complete the SRK Greenway in winter, or just looking for winter hiking partners.  Feel free to forward to other likely hikers. For more details on the trail sections and the SRK Greenway look at www.srkg.com and the "SRKG Trail Guide" (sold in Warner Bookends and in New London at Village Sports and Morgan Hill Books).  For this season’s SRKGC schedule of weekend hikes click on http://www.srkg.com/winter_schedule_2011.htm.