Saving Foreclosures in Southern New Hampshire with New Fannie Mae Program

As the number of foreclosures rises around the nation, some lenders have held their foreclosures in Southern New Hampshire in private stock, hoping to sell them gradually in a stabilizing real estate market. However, even with the five-month extension on home buying tax credits signed by the President November 6th of this year, lenders are facing a continued increase in REO (Real Estate Owned) properties and need to find ways to reduce the number of vacant properties in their portfolio.

Government-owned Fannie Mae may have come up with a solution - a new version of the Deed-in-Lieu process.

Deed-in-Lieu
Some homeowners facing foreclosures in Southern New Hampshire have additional options beyond foreclosure, loan modification or a short sale. Some qualify for a deed-in-lieu (DIL), where they sign away all their equity back to the lender and walk away “debt free” (except, possibly, for taxes). Unfortunately, a DIL leaves the homeowner without a home to live in, and the lender with a house to sell in an uncertain market.

Deed for Lease Program
Under Fannie Mae’s new Deed for Lease Program (D4L), those who go through the DIL process may be eligible to rent their home back from Fannie Mae at current market rental rates. This may not sound like a great deal, but many families have ended up on the street because of foreclosure. Those who qualify for the D4L Program will be able to remain in their homes for at least 12 months. To learn more, read the entire D4L Program eligibility list.  Here are a few of the qualifications:

·    No prohibitive Homeowner’s Association rental limitations
·    The cost of any required repairs is an acceptable amount, based on the value of the property
·    The income the lender receives from the current rental market should be expected to cover any maintenance/management costs
·    The current rental rates must be less than 31% of your gross income
·    The home must be a primary residence

Whether the D4L Program will actually reduce the number of foreclosures in Southern New Hampshire is still up in the air, but it does give homeowners other options – something they’ve been sorely lacking.

If you’re facing foreclosure and qualify for short sale, I'd love to help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

Picking a Southern New Hampshire Real Estate Agent

Picking a Southern New Hampshire real estate agent is a big decision. Buying a home isn't something most people do on a regular basis and rarely do they know agents personally or have one on retainer like they may have a lawyer for regular business purposes.

If your job doesn't entail a lot of property transactions you might feel like a fish out of water when looking around for a Southern New Hampshire real estate agent.  Fortunately, deciding on the right one isn't as hard as you might think.

Real Estate Agents Are People Too

That's right, they have the same qualities you would think of in any other individual you might do business with.   So, finding an agent really comes down to measuring many of the same values you'd use to choose another business associate. 

·    Honesty
·    Reputation
·    Track Record
·    Associations

Here are two tips to help you determine which real estate agent is right for you:

·    Ask the agents you're considering for a list of past clients.  Contact those past clients to find out what they thought of the agents and if they'd use them again.

·    Interview the real estate agents .  Ask them how long they've been in the Southern New Hampshire real estate business, how many homes they've sold in the past year and how they can help you find a home.

 If you're looking for a Southern New Hampshire real estate agent, I'd be honored if you'd give me the opportunity to interview for the job.  Contact me now at 603-821-1134 or email me at dave@daveheeter.com for more information.

Southern New Hampshire Homes for Sale: 2010 Market Forecasts

Those with Southern New Hampshire homes for sale are buckling down for the long haul, but exactly how long will that be? I spent a little bit of time roaming the Internet to get the general “feel” from people on the housing market. It turns out that the answer all depends on who you ask…

Housing Predictor
Housing Predictor.com says, yes, the housing market appears to be making a rebound. However, that rebound, says economist, John Hines, is a false front. The government is pushing the rise in sales to make the housing markets look good and increase buyer confidence. Will the market ever get back on track? According to Hines, if Congress can get the lending pipeline going again, we might finally see a bottom around the third quarter of next year.  New Hampshire hasn't been hit as hard as much of the country and will likely be among the fastest to recover. 

The Ledger
According to an article at The Ledger, Stephen Blank of the Urban Land Institute isn’t at all optimistic. Blank says there’s no quick fix, and that 2010 will be sobering. While the housing market is being helped by various factors, the foreclosure rate probably isn’t going to drop and lenders are very cautious about lending. Blank worries that financing may be lacking, even for those wanting to buy. He doesn’t see the market doing much for another year.

CBS Money Watch
The best article I’ve come across so far, however, was written back in June at CBS MoneyWatch. The article says give the market at least seven years to recover. The author doesn’t just quote doom and gloom, however. She has some great points for people with Southern New Hampshire homes for sale. I highly recommend the read, but here is the quote that stuck firmly in my mind:

“If you are a seller, get realistic about what you can get for your house. With so little upside in the foreseeable future, you may be better off to sell, even at a loss, since you can probably get back into a similar house at a lower price and very low interest rates.”

It’s a buyer’s market; the supply of empty homes is still higher than the demand for them. If you have one of the Southern New Hampshire homes for sale and it’s not selling, you may need to change your mindset a little. In this buyer’s market, sellers may just have to bite the bullet.

Ready to buy or sell?  I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

4 New Year's Resolutions for Southern New Hampshire Homes for Sale

New Years is just around the corner, and for many with Southern NH homes for sale, it’s the perfect time to make some resolutions. Let’s be expansive, though, shall we? Don’t say, “I will sell my house by April.” We can be more specific than that. Here’s a short list of resolutions that might help you take that home off the sales shelf:

1.    Resolve to look over the competition in your town. Not just one or two of the Nashua, Hollis, Merrimack, Milford, Amherst, Manchester, Derry, Londonderry, Litchfield, Hudson or Windham homes for sale, but ten or eleven. Look at them with the buyer’s mindset. What selling points do they have? What negative points do they have? Your goal should be to outshine the competition. You can’t do that if you don’t know what the competition is.

2.    Resolve to do a little home improvement. These don’t have to be big projects. Your project could be as simple as adding a few bushes for better curb appeal. You don’t have to spend a lot of money or a huge amount of time for the home improvement to count. What you do have to do, however, is make the improvement count. In other words, don’t forget to walk buyers past whatever you’ve decided to do, or tell your real estate agent about it.

3.    Resolve to check with your agent about the state of your home. Not when they think it will sell, but what you can do to up the value. Remember, “value” is a relative term. Upping the value for buyers may be as simple as cutting $5,000 off your price.

4.    Resolve to be calm if a buyer suggests a lower price than you want. Consider the options fully – don’t just snap his or her nose off. Can you afford to let the house go at the offered price? If you can and still want to say no, think about it… how long did it take to get this potential buyer? Can you afford to wait longer?

If you have one of the Southern New Hampshire homes for sale, keep in mind that it’s just one of the homes for sale. You have an amazing amount of competition; not just here, but around the nation. Take a chance to do something a little different. Your New Years may turn out to be even happier than you expected!

If you’re looking for unique ways to sell your home, I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

Feeling Worn Out From Prepping for the Holidays in Southern New Hampshire?

If the effort of getting ready for the holidays has you feeling worn out, here are some Southern New Hampshire activities to put the spring back in your step and the holiday spirit back in your heart:

*Download one of the free scenic NH wallpapers from NH.com. 

*Take a sleigh ride at Charmingfare Farm in Candia, NH featuring a Horse-Drawn Ride, Christmas Lights, Holiday Displays, Nativity with Live Animals, Costumed Characters, Petting Zoo, Santa & Reindeer. The Lighted Winter Wonderland package is available tonight, Christmas Eve, December 24th as well as Saturday the 26 & Sunday the 27 for $20.00 pp when you purchase online or $23.00 at the box office. (Children 1 year and under FREE) Or, for a more romantic excursion, take the VIP Sleigh with no lines or waiting for $125.00 (Seats up to 4 passengers) Reservations are strongly recommended.  Location: Charmingfare Farm, 774 High Street, Candia, NH.  Information: 603-483-5623 or visit www.VisitTheFarm.com

*Visit the outdoor ice skating rink in Merrimack, NH located in the town center section of Merrimack adjacent to Merrimack High School and Middle School behind the tennis courts on O’Gara Drive.  The ice-skating rink will be open to the public, as weather permits seven days a week with the lights on from 4:00 – 10:00pm.  For evenings when the rink is being groomed, it will be closed to skaters at 9:00 pm.
Please call the Merrimack DPW at at 603-423-8551 (Hours of Operation: 7:00 - 3:00 Monday thru Friday) for current ice conditions or the Parks and Recreation office at 603-882-1046 with your questions.

*For the more athletically inclined, check out Liftopia.com, where you can buy discounted ski passes!  Recent deals include $44 for Pat's Peak on Saturday January 9th or Sunday January 10th, $50 for Gunstock on Saturday December 26th or Sunday December 27th, $51 for Waterville Valley on Saturday January 9th or Sunday January 10th.  Naturally, the cheapest tickets are for weekdays (often in the $20's!), so if you have a weekday off, check it out!  And check out www.SkiNH.com for a map of all the New Hampshire mountains!

*Finally, consider making a special holiday donation to your favorite charity for those who are having a particularly rough year.  If you don't have a favorite charity, use the Charity Navigator to pick one, or here are some local New Hampshire charities:
 The Nashua Soup Kitchen
Greater Nashua Habitat for Humanity
Home, Heath & Hospice Care
Humane Society for Greater Nashua

May you find much joy and peace this holiday season with friends and family!

A Home for Sale in Southern New Hampshire: Are You a Competitive Seller?

Do you have a competitive nature? Do you always have to have the last say? Do you always feel you have to win? If you have a home for sale in Southern New Hampshire, you may have “competed” yourself right out of a buyer. Please, read on to find out how NOT to make this mistake.

Who Calls the Shots?
You’ve probably heard “it’s a buyer’s market” many, many times already. With the number of people who have a home for sale in Southern NH, this is something you can’t afford to ignore. This is especially true considering that the longer your house sits on the market the more it depreciates.

A competitive nature is all well and good, but, when dealing with potential buyers, you have to rein it in. Winning, in this case, is not getting the last word, but selling your home. As you enter into negotiations, keep in mind that the end goal is to sell.

Buyers know they have the market. While this doesn’t necessarily mean they’ll try to walk all over you, it does mean that they may try to negotiate:

•    On price
•    On closing date
•    On inspection period
•    On closing costs
•    On anything

Now, just because they’re trying to negotiate doesn’t mean they aren’t qualified buyers. You may have a very qualified potential buyer trying to negotiate with you.

Warning: at this point, your competitive nature may try to rise up and crush the negotiating potential buyer. Restrain yourself - strenuously if you have to.

While dealing with offers, counter offers and counter-counter offers, ask yourself if you’re being competitive, silly or surprisingly realistic. Are you turning down their offer because it isn’t an exact fit for you? Do you have a legitimate reason for the counter offer, or are you trying to “one-up?" Will a requested change really make that much difference to you?

Although I’m not suggesting that you take the first offer that comes along without looking at it, or that you take an offer that is less than you can afford to take, I am suggesting that you remember there are plenty of people with a home for sale in Southern New Hampshire. As you look at the offers, keep this in mind. Shut down that competitive nature and remember that the only way you really win is when you sign the papers and hand over the keys.

Ready to get your home sold?  I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

How Do I Update My Southern New Hampshire Home to Make It Greener?

There are many different ways to update your Southern New Hampshire home to make it more eco-friendly.

 •    In your Southern NH home, install ceiling fans and thermal windows.  Ceiling fans are low energy, cost effective ways of cooling your home without using the air conditioning.  Thermal windows offer insulation from outside heat and cold. 
•    Use foam caulking around any cable lines or cords leading to an exterior wall.  This will provide insulation against temperature changes.
•    In the winter (or in climates that are cool year round), use the natural sunlight during the day.  Opening the drapes and allowing the sun to come in decreases the amount of energy needed to light and heat your home.  Closing the drapes at night adds another layer of insulation against temperature changes.
•    Installing motion sensors on your light fixtures may help to decrease energy usage as well.  The lights will shut off automatically when not in use. 
•    Use a power strip that has an on/off switch.  These power strips can be used for video games, stereos, DVD players, and other items that are not in use on a constant basis.  Turning off the switch when they are not in use saves energy. 

If you'd like to buy an eco-friendly home, I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

Holiday Candle Safety in Your Southern New Hampshire Condo

More festive candles are used in your Southern New Hampshire condo during the holidays than at any other time of year, so it’s important to review the safety rules.  Here are few tips to keep your condo safe:

Candle Placement Preparation
It may sound silly, but you need to prepare before you light that candle.  First figure out where you want to place the candle in your Southern NH condo. 
•    Find a stable, heat resistant surface. 
•    Make sure there aren’t any books, papers, curtains, or bedding nearby. 
•    Watch out for flammable holiday decorations. 
•    Keep the candle away from windows and vents, and check for signs of a draft. 
•    Place the candle where children and pets can’t reach and where it isn’t likely to be bumped into.

Getting Ready to Light the Candle
•    Before burning the candle, review the manufacturer’s instructions.  Most recommend that the wick be trimmed to ¼ inch before lighting. 
•    Make sure to use only approved candle holders.  Using an unapproved glass holder could cause it to burst and send glass everywhere. 
•    Place candles at least three inches apart so the additional heat doesn't cause them to melt improperly.

Burning the Candle
Now that the candle is lit, make sure to never leave it unattended.
•    Watch the candle to see if it smokes or flickers a lot.  This could be a sign that the candle isn't burning properly.
•    Leave about two inches of wax when you extinguish the candle or a 1/2 inch if it's in a container.  Most manufacturers recommend that you don't burn the candle all the way down. 

Putting the Candle Out Safely
The safest way to put out a candle is with a candle snuffer. 
•    Don’t use your fingers or blow out the candle; the flame may travel and cause a fire.
•    Never use water to put out a candle; the wax may splatter and burn you. 
•    Wait until the wax has cooled before you move the candle.

Candles are a beautiful way to decorate for the holidays in your Southern New Hampshire condo.  By following these simple safety suggestions, you can help to ensure that your holidays are happy and safe. 

If you’d like to be in a new condo before the next holiday rolls around, I can help. Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

Why Would Lenders Hold Back Southern New Hampshire Foreclosures?

It’s in the news and has been for several months now; financial institutions may be holding back their inventory of Southern New Hampshire foreclosures and national foreclosures.  Why on earth would they do that?

For those of you who are wondering what would cause lenders to hold back on listing Southern New Hampshire foreclosures, here’s a little information that might enlighten:

•    April 2009, the San Francisco Chronicle published a news article about the state of foreclosed homes. In the article, Rick Sharga, vice president of RealtyTrac said, “We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market.” Obviously some areas of the country have more backlog than others, but with an already glutted market, imagine what would happen to real estate if those 600,000 foreclosed properties flooded the market further.    

•    October 2009, CNN Money.com stated in an article, “Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.” According to the report, one in every 136 homes – a staggering 937,840 homes - were in foreclosure.

•    Financial institutions know that the foreclosures could cause a severe drop in the average price of housing. Should prices fall farther, faster, lenders would not be able to recoup their losses.

•    Some may be holding a few properties back for a “rainy day” – for when the prices start to rise again.

Even though lending institutions are holding back on some of their inventory of Southern New Hampshire foreclosures, there are still some great deals to be found.

If you’d like to find a great deal on a foreclosed home, I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

Easy Ways to Save Money on Heating Your Southern New Hampshire Home this Winter

It’s that time of year again, when the temperatures fall and the costs of heating your Southern New Hampshire home go up.  Do you worry about the increasing cost of heating oil and the rise in energy prices?  Then you may want to try these suggestions for saving on your home’s heating costs:

•    Check all your home’s air vents to see that they are clean and free from any blockages.  Replace your furnace filters to keep the system running efficiently.

•    Weather seal your home.  Look around all the door and window frames on your house for obvious gaps and spaces that could let cold air into your house.  Fill in the gaps with a silicone caulking, sold at all hardware stores.  For high traffic areas like the doorway, you may want to apply a vinyl or metal weather-stripping to help block the cold.

•    Set your thermostat lower.  Find the lowest setting that will keep you warm and leave it there.  Keeping your thermostat at a consistent temperature helps avoid unnecessary energy losses from changing temperatures. 

•    Keep a sweater handy.  Don’t underestimate the savings wearing a sweater around the house could net you.  You could lower your heating costs significantly with each degree of difference.  Using an extra comforter at night can lower your nighttime heating costs.

•    Use a space heater for the rooms you are in the most.  A space heater is a good way to keep small areas warm without running up your bill by heating the whole house.  When using a space heater, it’s important to follow all the manufacturer's safety guidelines and remember to turn the heater off when you leave the room.

•    Add more insulation to your Southern New Hampshire home.  Traditional insulation can be messy and time-consuming to install.  You may find that the cost of hiring a professional to spray foam insulation into the walls and attic is worth the energy savings.  It may pay for itself after a year or two. 

You’ll find it’s easy to save money on the heating costs of your Southern New Hampshire home when you follow these suggestions.

Want to buy a well-insulated, energy efficient home?  I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

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Christmas Comes Early for Southern New Hampshire Homes and Buyers

Have you heard of the first-time homebuyer’s tax credit extension? Last month, President Obama signed the extension to help first-time homebuyers (who didn’t get their sales in by November 30th) buy a house that meets their needs. What about those who already own homes in Southern NH, are doing well and want a larger home?

To those who already own a home, Merry Christmas! The Workers, Homeownership and Business Assistance Act of 2009 didn’t just come with an extension; it came with improvements. Those in governmental positions of authority reasoned that if someone wanted to get a bigger home, they should get some kind of help too, thus further helping the overall real estate market.

If you own a home, you can now receive up to $6,500 in tax credits for buying one of the Southern New Hampshire homes for sale. The actual wording is “$6,500 or 10%.” Here are a few of the important points you need to know:

•    Income Qualifications – Your modified adjusted gross income (MAGI) as a single taxpayer must be less than $125,000 ($225,000 if you file jointly). Partial credit may be received by those with a MAGI of less than $145,000 (single) and $245,000 (jointly).

•    Home Ownership Qualifications – You must have lived in the home you own for five consecutive years out of the past eight to qualify. You do not, however, have to currently own the home you’re using to qualify. The key terms are “five consecutive years” and “in the past eight years.” If you lived in your home for five years straight, but sold it two years ago, you are still eligible for the tax credit. If you’re filing jointly with a spouse, both you and the spouse have to qualify.

•    Cost Qualifications – The cost of the home doesn’t have to be more than the home you already own, but it does have to cost less than $800,000. As a side note, the government has put a definitive cap on the housing costs. If the home you’re looking at is a solid, non-negotiable $801,000, it isn’t eligible for the credit.

•    Purchase Date – The final date for the purchase to be secured by a contract is April 30, 2010. The actual closing date must be finalized before June 30, 2010.

Most couples move into a home thinking they will “eventually” get a bigger home once they have a family. Then the family comes along, the house is full and they can’t buy a larger home due to financial issues. The tax credit is a perfect opportunity for families to find Southern New Hampshire homes that fit their expansion needs. Take a chance and look around; your dream home may be only a city block and $6,500 away!

If you’re looking to expand and take advantage of the tax credit, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Safeguard Your Southern New Hampshire Home this Holiday

During this festive season, our thoughts turn to giving gifts, baking delicious treats in our Southern NH homes and visiting friends and family. However, there are others who think about unoccupied, gift-filled houses.

Don't give a thief a chance this year. Safeguard your Southern New Hampshire home for the holidays by following these tips:

Holiday Safety at Home
· Keep all doors and windows locked, even if you step out for a moment.
· Videotape valuables so you'll have a record of ownership.
· Inspect all holiday lights for frayed wiring before you hang them.
· Beware of strangers coming to the door asking for charitable donations. Ask for identification, if donations are tax deductible, how the funds will be used. If you are not satisfied, don't give. Instead, help a charitable group you know.


Holiday Events Away from Your Southern New Hampshire Home
· Turn on lights, a television or radio so that it appears that someone is home.
· Lock all doors and windows.
· If you have a home alarm system, use it. Alarm systems are only useful when they're activated.
· Holiday gifts should not be displayed where they can be seen from the outside.
· Never leave keys under doormats, flowerpots or other “secret” hiding places -- burglars know where to look for hidden keys.

Holiday Travel
· Secure all doors and windows including your pet doors. Burglars can gain access to your premises from amazingly small openings - including cat doors. Secure all pet doors and remember to lock every single window and door, including those on garages and exterior buildings or storage sheds.
· Ask a neighbor to watch your house and pick up any packages left for you.
· If you leave your car at home, park it where you normally would.
· Use automatic timers for your interior and exterior lights.
· Stop your mail and newspaper deliveries.
· Arrange to have snow shoveled (if necessary) while you're away.
· Notify your local police department and leave a number where you can be reached in case of an emergency.


Take the time to be safe so you can relax and enjoy this wonderful time of the year.


Happy Holidays to you and yours!