A 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.
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
Marilyn Kidder, Listing Broker, 603-526-4116
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 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!
Ghosts 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).
- Ignore home maintenance. Nothing like a really old roof or rotted siding to indicate there are probably more problems lurking around.
- Over-decorate. Have tons of family photos and personal collections scattered around. No need to help buyers envision themselves in your house.
- Keep lots of furniture stuffed into the rooms. Buyers like small rooms, right?
- Sell your house empty. It’s not about the emotion. (Or is it?)
- 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
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.
Donna Forest, Listing Broker, 603-526-4116
Teamwork from the Team that works – Coldwell Banker Milestone Real Estate.
Statistics released near the end of September by the National Association of REALTORS® show that US home sales are up 6.2% and the median sales price is up 4.7% to $228,700 from a year ago (for the period 1/1/15 to 8/31/15). We are seeing a similar trend in NH as the New Hampshire Association of REALTORS® reports closed sales through August up 10% and the median sales price up 5.3% to $241,115 from 2014. Of course not every market area is identical, so I looked at the combined data for our 12 area towns through September and found home sales up 6% (331 homes sold vs. 312 in 2014) and the average sales price almost the same as last year’s at $352,158. Most of the towns saw an uptick in sales compared to 2014 with a handful behind (New London and Springfield for example). Currently there are over 500 homes for sale with the average days on market running about 178 days. Whew, lots of numbers, right? Bottom line, the housing market remains steady with the expectation for home sales and pricing to rise. Continued gains in employment, wage growth, and low mortgage rates will likely support a price appreciation of 4.3% in 2016 according to CoreLogic’s October release. Whether buying or selling, contact me to find out how the market impacts you! 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 1/1/14 thru 9/30/14 and 1/1/15 thru 9/30/15.
A basement is the foundation of a home, however sellers often overlook it. A damp or wet basement can alarm potential buyers. Cobwebs, clutter, mold, leaky pipes, etc., all send a negative signal. Here are some tips to ensure that your basement does not derail the sale of your house.
- If you have a water problem in your basement, FIX IT! A damp basement can rot sills and wood beams, compromising the structural integrity. There are companies out there that specialize in fixing wet basements.
- De-clutter. This allows buyers to see how they can use the space.
- Clean up cobwebs, make sure all the lights work. Having buyers walk face first in to a giant cobweb does not endear the house to them.
- By nature, basements are damp in the summer - run a dehumidifier.
- Have your furnace checked. Make repairs on any leaking pipes.
As you prepare your house to go on the market, it's important not only to spruce up the living spaces, but the basement as well. Feel free to email or call me if you'd like a free booklet on how to enhance your house for a successful sale. 603-526-4116, Donna@DonnaForest.com, www.DonnaForest.com.
Take a walk around New London and you're apt to see the "Pumpkin People" sprouting up all over the town! We're all having a little fun and friendly competition. The Town's Rec. Department will be judging the new pumpkins in town on October 25. The contest is open to all residents, businesses and organizations. Click here for more information. Have fun making your people! Meet our new family - another satisfied buyer who bought from "The Best Team in Town"!
Teamwork from the Team that works – Coldwell Banker Milestone Real Estate.
Don't miss the Fall Festivals coming up on October 10 and 11. The Town of Warner will have their annual Foliage Festival with entertainment, carnival rides, fine crafts and more throughout the town. And don't forget to visit the NH Telephone Museum there with free admission. For more information, visit www.wfff.org Mt. Sunapee Resort will also host their annual Fall Foliage Festival and Pig Roast from 11:30-5pm. There will be pulled pork and chicken, all day games, activities and prizes. You can also take advantage of the aerial sky ride to the summit, weather permitting. For more information, visit www.mountsunapee.com Get out and enjoy the beautiful colors!
Teamwork from the Team that works – Coldwell Banker Milestone Real Estate.