Our Blog has Moved to Our New Website!

This will be the final posting on Blogger, as we have moved this Blog to our new website at TeamHeeter.com.  Please come check it out!

Should You Move to a Retirement Community After Selling Your Southern New Hampshire Home?

Parker Village, Merrimack

Your kids are grown and gone and without them your Southern New Hampshire home was simply too big and too much work.  So you sold it.  Now you’re asking yourself, “Should I buy a new Southern New Hampshire home in a retirement community?”

The answer depends on what's important to you. Do you crave the company of others? Would you use many of the amenities provided at the community?  If yes, then you might prefer the convenience of a retirement community. 

Many communities offer amenities to attract buyers, such as:

    * Golf courses
    * Swimming pools
    * On-site exercise facilities
    * Trails for hikes and biking
    * Clubs, associations, and various interest groups.

Other things you need to consider before making your decision are:

    * Do you meet the age requirements?  Most senior living communities have a minimum age restriction of 55 for at least one of the residents. Sometimes the age minimum is 60 or 62. If it is 62, then all occupants must be at least that age. Check resident restrictions before purchasing.

    * Do you have enough money in your budget?  Like condo ownership, there are usually Community Association fees that must be paid.  These fees pay for the shared facilities and community maintenance costs.  Make sure your budget covers all housing expenses including the mortgage payment, utilities and all community fees.  

    * Which type of retirement community best fits your needs?
          o Active Adult Communities. These are for those who live independently and have an active lifestyle.  By the way, I just listed a beautiful unit at Parker Village, a 55+ community in Merrimack.  Call me to schedule a showing of this practically brand new Merrimack condo!
          o Independent Living Retirement Communities.  If you can live at home, but still need some help, this type of community may be for you.
          o Continuing Care Communities. These communities have professionals that are able to care for your health needs.

If you’re looking for a new Southern New Hampshire home, whether in a retirement community or not, I can help you find a home that fits your lifestyle and budget.  Call me today at 603-821-1134 or email me at Dave@TeamHeeter.com. 

Winter Blues? 9 Easy Ways to Brighten Your Southern NH Home and Your Spirit

These gray, dreary winter days can really sap your energy and dull your enjoyment of life.  To survive the winter doldrums, brighten your Southern NH home using these easy tips:

   1. Open your Southern New Hampshire home’s window treatments during the day to let the light brighten and warm your room.  Close them again as soon as night falls to retain heat.

   2. Brighten dark rooms with few windows by placing spotlights on the floor behind furniture.

   3. Add a mirror.  Wherever a mirror reflects light in a room, it visually doubles that light.  Place a mirror opposite a window to immediately brighten your space.  No window?  Hang a large mirror above a console table and place a pair of lamps in front of the mirror.

   4. Install higher watt bulbs in rooms that tend to be dark.

   5. Eliminate dark corners by adding recessed lighting.

   6. Use full spectrum lighting in areas where you read, knit or do other up-close work.

   7. Lighten living areas with colorful throws and pillows.

   8. Lift the winter blues by adding flowers and plants to your decor.  Colorful indoor blooming plants include the African violet, Cyclamen, Orchid and desert cactus.  Use tropical flowers to transport yourself mentally to climates where the sun always shines.

   9. Do a little winter cleaning:
         a. Wash the inside of your windows. Fireplace and candle soot coats windows with a dingy film that blocks the sun.
         b. Polish your furniture. Shiny furniture reflects ambient light.
         c. Wash ceiling light fixtures in soapy water. Light is muted when filtered through dirty light fixtures.

Lighting can change how you (and potential buyers) feel about your Southern NH home. It’s one of the easiest and least expensive ways to quickly improve the ambiance of your home.

If you’d like to sell your home, I can help.  Give me a call today at 603-821-1134 or email me at Dave@TeamHeeter.com.

5 Myths about Using FHA Loans to Buy Southern New Hampshire Homes Debunked

FHA loans are mortgages issued by qualified lenders, including traditional lenders like Citigroup and Wells Fargo, and insured by the Federal Housing Administration (FHA).  The popularity of these loans are skyrocketing and for good reasons.  They feature low down payments, low closing costs and are easier to qualify for.

Despite this popularity, there are many misconceptions surrounding FHA loans.  Here are just a few myths and the facts behind them.

Myth #1: FHA only loans small amounts to buyers of Southern NH homes. 
Fact:  To help stabilize the real estate market, the government recently raised the maximum loan amount from its original cap of $362,790 to $793,750. The FHA loan amount a buyer can borrow varies by state and county and by type of home (Single Family, Two-Family, Three-Family, Four-Family).

Myth #2:  FHA loans are exclusively for lower-income borrowers. 
Fact:  FHA loans are available to everyone. There are no maximum income restrictions.  Potential borrowers must verify income and assets to ensure they can afford the loan.

Myth #3:  FHA loans are exclusively for first-time buyers of Southern NH homes.
Fact:  Whether Southern New Hampshire home buyers are making their first home purchase or their twentieth, they can potentially qualify for an FHA loan.

Myth #4: FHA loans are affiliated with the low-income housing program.
Fact:  FHA loans have nothing to do with the Section 8 Housing Program or any other low-income or subsidized housing programs. FHA loans are simply mortgages insured by FHA.

Myth #5: FHA loans are risky. 
Fact:  FHA loans are often easier to obtain, but that does not make them riskier.  The FHA requires full documentation of borrowers’ income and assets to ensure they can afford the loan.

If you’re ready to look at Southern NH homes to buy, whether you’ll be using an FHA loan or a non-FHA loan, I can help you find your perfect home.  Give me a call today at 603-821-1134 or email me at Dave@TeamHeeter.com to get started.

Southern New Hampshire Real Estate Investments: 4 Ways to Make Money

Now is a great time to get into the investment real estate market. Not only does investment property give you a real tangible asset for your portfolio, you can also get Southern New Hampshire real estate investments at great prices right now.

Here are four ways to make money from Southern New Hampshire real estate investments that you might want to consider.

    * Rental properties.  Not everyone enjoys owning rental property, but it is one of the most profitable ways to make money from real estate.  Rental properties give you a constant residual income that lasts as long as you keep the property.

    * Flipping. While the house flipping craze of the 80s and 90s cooled down with the current mortgage and housing crunch, for serious investors who take the time to know what they are doing, it is still a viable means of making money in real estate.  This is typically a shorter term method of real estate investing.

    * Rehabbing. Buying a house to live in while you fix it up and resell it is similar to flipping, except that most rehabbers take longer to renovate the home, and use it as their primary residence while doing the work. There are three reasons this is a more comfortable way to flip Southern New Hampshire real estate investments. First, you have a place to live and don't have to pay a mortgage on another property.  Second, you don't have to feel as pressured to sell in a short period of time the way you do a flip.  Third, you may receive all the homeowner benefits like tax breaks and no capital gain tax.

    * Subdivide. This form of investment requires a little advance preparation and investigation. When you discover a sizeable piece of land at a good price, find out if it is zoned so you can subdivide it.  If it is, you can profitably sell off individual parcels to those who want to build on it.

If you would like more information on ways to invest in real estate that makes sense for you, I can help. Contact me at 603-821-1134 or email me at Dave@TeamHeeter.com.

How to Thaw Frozen Water Pipes in Your Southern New Hampshire Home

Frozen pipes are a serious concern in the bitterly cold winter weather, particularly if your home is left vacant for any length of time (Take note, all you snowbirds out there who go to Florida or other warm climates for winter!).  When a pipe bursts in your Southern New Hampshire home, it spills several hundred gallons of water per hour, which can equate to thousands of dollars of damage to your home.

If you wound up with frozen pipes this winter (and both copper & pvc pipes can freeze), here are some tips to thaw frozen pipes in your Southern New Hampshire home:

     1. Prevent potential flooding.  To prevent flooding, you may want to shut off the main water supply.  If the pipe bursts before it’s thawed, you definitely want to immediately shut off the main water supply.
  
     2. Check for damage.  Check for holes, cracks or breaks along the pipe.  If there is no damage and the pipe is simply frozen, immediately thaw the frozen pipe using tips from #4 below.  If there is damage…

     3. Repair the damage.  Repair methods depend on the damage:

         a. Repair a pinhole.  A pinhole can be repaired by wrapping the pipe with electrical or duct tape.
         b. Repair a hairline crack.  Cover a hairline crack with a pipe clamp.
         c. Repair larger cracks.  You may need to replace that section of pipe, or have a plumber replace it.      But, first, you can try repairing the pipe with a patch kit.

     4. Thaw the pipe.  If you've been able to repair the pipe without replacing it, or the pipe was not damaged, it’s time to thaw the pipe.  Thaw it by applying heat to the frozen section. Always heat the pipe from the faucet toward the frozen area. Never use a torch. Instead use a hairdryer or heat gun on a low setting. You can also place a heat lamp or small electric heater near the pipe or wrap the pipe in heat tape or an electric blanket.  You can even wrap the pipe in towels and pour hot water over them. 

Safety Alerts!
    * When using a hairdryer, heat gun, heat lamp or electric heater, please be aware of wet floors and the potential danger of electric shock. Check the area. If you find potentially dangerous electrocution hazards or extensive damage to pipes, call a plumber for assistance.
    * Never use a flame torch because of the fire hazard it creates. Open flame torches are the most common cause of pipe thawing related home fires.

     5. Insulate pipes. Once you're sure your pipes are damage free and thawed, insulate your pipes, don't set your heat lower than 55 degrees and if you're away, have someone check up on your home daily when the outside temperatures are below freezing or fully winterize your home before you leave.

Get Southern New Hampshire home maintenance tips like this automatically emailed to you at no cost.  Just subscribe to my blog now.

More Than 108 Experts Provide National and New Hampshire Real Estate Forecasts for 2011 and Beyond

From national and NH real estate to the U.S. economy, the predictions for 2011 are in.  Like any predictions, they vary from gloomy to cheery.  Overall, the national real estate forecasts are more positive than negative for 2011 and the New Hampshire forecast looks especially positive.  Below are my 6 top sources for expert predictions and a sampling of what they have to say this year:

  1. MacroMarkets Home Price Expectations Survey predicts:  A cumulative 8.3%  home price increase over the next 3 years (i.e. a *very* gradual increase in home prices).  This survey is of a panel of 103 leading housing economists and real estate experts, half of which expect the beginning of housing recovery in 2011, and half who predict the rebound won't take told until sometime in 2012 or later.

  2. The National Association of REALTORS®’ (NAR) Chief Economist Lawrence Yun is projecting: 

• Once businesses pick up spending, job gains will quicken and home sales—fueled by strong affordability and plenty of pent-up demand—will rise.

• 5.2 million existing-home sales in 2011, up from 4.8 million last year.

• Modest improvement in prices—a rise of about 1 percent this year on a national basis. That would be the first in what Yun says will be a series of small but steady gains in the years ahead that will eventually bring home sales back to a normal level. 

• All of the price excesses from the housing bubble have been squeezed out of the market and interest rates remain at historically low levels, making buying attractive now.  

  3. The Joint Center for Housing Studies (click on The State of the Nation's Housing 2010 pdf) says:

• If the past is any guide, the strength and sustainability of the housing recovery will depend most on the bounce back in employment growth.  Unfortunately, most economists predict that the unemployment rate will remain elevated as discouraged workers reenter the labor force amid slow gains in jobs.

• The oldest baby boomers are just turning 64, with millions soon to follow. Despite their losses in wealth caused by the correction in home and stock prices, the baby boomers will drive demand for senior housing suited to active lifestyles as well as for assisted living facilities.

  4. According to the Standard and Poor / Case-Schiller index:  Home prices are expected to rise 12 percent in the next five years. And, according to a survey of economists, that upturn should begin in 2011.
 
  5. WalletPop.com’s prediction for renters in 2011:  The American Dream will include both renting and owning.

• Lifelong renters will begin to buy.  As jobs grow, prices hit bottom or move past their bottom in the handful of appreciating markets, and interest rates start what is likely to be a long, volatile climb up from the all-time lows of 2010, extreme affordability will push even some lifelong renters off the fence and into the market.

• Lifelong owners will begin to rent.  Baby Boomers who have owned homes for decades and lost them at the trough of the job and housing markets will become renters-by-choice.  Retirees will rent their current homes, rather than selling them, move to warmer climes and rent instead of own their retirement homes, at least until the housing market stabilizes and the mortgage market relaxes.

  6. Local demographics and consumer markets expert, Peter Francese says:

•  "Measuring by the Philadelphia Federal Reserve Bank's index of economic activity, New Hampshire is recovering from this recession better than any other state...."

• "One other important indicator is our unemployment rate, which was 5.4 percent in November. That was the fourth lowest rate in the nation but is probably below 5 percent by now. Our state is clearly moving toward a period of economic growth that can only be good news for our housing market."

• "End of the year data from NNEREN shows that about 850 homes were sold in December 2010, a 2 percent increase over the previous December. The median selling price was $214,900, which was 4 percent higher than December 2009."

• "For the year 2010, the median home selling price was $215,000, which was 1 percent higher than the 2009 median of $212,000. That’s the first annual increase in several years, and when combined with positive indicators discussed above, suggests that home prices have stabilized and are likely to continue on an upward trend this year."

Although no one can be certain what will happen in 2011 - especially for the struggling markets and price points - we can all gain a little hope from these 2011 forecasts.

If you’d like to buy or sell a home in 2011, I can help. Call me at 603-821-1134 or email me at Dave@TeamHeeter.com for more information.