Can Your Southern New Hampshire Home for Sale Beat the Rising Competition?

Any time supply is bigger than demand, businesses start looking for a way to set themselves apart from the competition.  If you have a Southern New Hampshire home for sale, you’re probably doing the same thing. What is the competition like, though? Are you looking for similar houses, similar neighborhoods – or is the competition nation wide? By paying attention to homes that are selling nationwide, you can find out a lot about what buyers want.

Once again, CNN Money published their “Top 100 Best Places to Live” for 2009. If your Southern New Hampshire home for sale is in a place similar to the Top 10 (or happens to be in one of the four New Hampshire cities in the top 100 - Merrimack, Concord, Hooksett and Hanover), you just might have a much better chance at selling, especially if you market those positive attributes. Here are just a few of the things these places have in common:

·    Small towns: Whether a place is small or not is always relative. For instance, someone who lives in a town with less than 3,000 people would think Bryant, Arizona, with a population of almost 15,000, was a big place. However, the Top 100 list points the way; the population numbers range from 8,000 to 50,000. If your home is in a low population area, this could be a great selling point.

·    Robust, needed industries: High-tech industries, energy services and health care are just a few sectors that haven’t been hit as hard by the recession. These industries will be needed for years to come, and the demand for trained workers is higher in areas with these industrial sectors than in others. If your home is located in an area with lower than average unemployment, brag about it!

·    Low crime rates: For most, if not all of the top 100 places, crime is low, if not almost nonexistent. For instance, Papillion, New England has around 22,000 people. They also have less than one personal crime per 1,000 people. If you aren’t sure what the crime rate is around your home, check! Low crime rates are an excellent selling point; one that you could be missing out on.

·    Education: Education has always been important to most people – a fact that is clear with the Top 100 list. The list averages 20 universities or professional schools within 30 miles, and over 71% of the population per place has had some college. Do you have great universities? Do you live in a highly educated community? It may not seem like a big deal to you, but it will to the buyer.

From population demographics to the number of recreational activities available, everything goes into making your Southern New Hampshire home for sale attractive to buyers. Do the research and find out what makes your area special.

Market Snapshot

 If you're trying to find your home's selling points, I can help.  Call me at 603-821-1134 or email me at dave@daveheeter.com for more information.

Get Rid of Clutter in Your Southern New Hampshire Home

Getting rid of clutter in our Southern New Hampshire homes can be a challenge for anyone.  We are overwhelmed with junk mail, paper from our children’s school, bills, magazines, trinkets, toys and clothes.  It can be difficult to sort through the mess to determine what we really need.  Even when the clutter is all sorted, new clutter seems to replace it overnight.  There are several ways that you can get rid of the mess in your home.

·    Start in one room and finish it.  It can be overwhelming to try to organize a whole house.  Start in one room and go through it.  Discard things that you have not used in the last six months (or the past year if a seasonal item).  If you have not worn it or used it in that time, then you don’t need it.  Discard all broken or stained items.  You aren’t going to fix them, or you would already have done it.

·    Throw things away.  Don’t set things aside to sort later, just in case you may need it.  When sorting, make a bin of items to keep and a bin of things to throw away.  Getting in the habit of discarding unneeded items can be difficult at first, but it will drastically cut down on clutter in your Southern New Hampshire home.

·    Give things away.  Get rid of clutter and help those in need by donating items that you're no longer using. 

·    Label your storage bins.  Many times clutter develops because there is no set place to put things.  For instance, in the toy room, have individual storage bins for toy cars, railroad tracks, dolls and crayons.  Each bin should be clearly labeled so that all family members can participate in putting things where they’re supposed to go.  With young children, it may be helpful to take a picture of the items that go in the bin, and tape it to the front of the container.

It’s easy to have clutter free Southern New Hampshire homes using these organizing tips. 

If your home is already organized, but you still don't have enough room, it may be time to buy a larger home.  I can help.  Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

How to Pay Off Your Southern New Hampshire Real Estate Mortgage Early

Few things sound better than paying off a thirty-year Southern NH real estate mortgage early.  Not only will you be free of mortgage payments, you could also save thousands of dollars in interest payments over the life of the loan.  Here are four ideas to help you pay off your mortgage early:

1.    Apply any windfall monies you receive to your mortgage balance.  Be sure to indicate that this is an extra payment and should be applied exclusively to your principle. 
2.     Make bi-weekly mortgage payments.  Making exactly one-half payment every two weeks will add up to a total of twenty-six half payments per year.  Or, thirteen whole payments each year instead of twelve.  That’s the secret to paying off a Southern New Hampshire real estate mortgage early with bi-weekly payments.  The interest rate itself isn't reduced, but the amount of money you pay in interest on the principal is. 
3.    Overpay a fixed amount every month.  By sending in an extra fixed amount as an additional principal payment every month, you'll reduce the length of time it takes you to pay off your mortgage. By sending in a fixed amount every month, you can easily automate this process.
4.     Use a prepayment calculator to figure out other ways to pay your mortgage off early.  The free prepayment calculators available on the internet can also help you determine how quickly you can become mortgage free.

Before implementing any of these methods to pay off your Southern New Hampshire real estate mortgage early, contact your mortgage lender to find out if you'll be incurring any additional fees.  It's also a good idea to ask your mortgage lender if there are any specific instructions you need to follow to be sure your payments are processed correctly.

Thinking about buying a home that you can pay off quickly?  Contact me now at 603-821-1134 or email me at dave@daveheeter.com for more information.

Real Estate Update for Southern New Hampshire Home Sellers and Buyers

2009 was a rough stretch for many Southern New Hampshire home sellers and buyers, but new reports hint at possible stabilization in the housing market that may prove beneficial for everyone. As 2009 rolled to a close and 2010 opened into a new year, economic and real estate reports poured out good news, but bad news wasn’t far behind. For each positive note, there is always that unavoidable “but”:

·    Mortgage rates are holding steady below 5%, thanks to government intervention. Thanks to the low rates, more people are buying and refinancing. However, the downside is that banks are more reluctant to refinance or loan. This leaves many who want to buy a Southern New Hampshire home with the inability to do so. Ironic that, in a buyer’s market, it’s the banks with all the selling power.

The other “but” is that the Federal Reserve program providing the low mortgage rates is set to expire in March. Rates could very well double shortly after, which is highly likely to drop the number of interested buyers. A drop in buyer numbers will only further shift the supply/demand ratio.

·    As of December 10, 2009, the number of foreclosures in a month had dropped 16%, nationwide. The home buyer tax credit expansion, foreclosure prevention programs and loan modification programs have helped, as well as state mandated financing programs. As great as that is, there were still over 300,000 foreclosures in November 2009, which is 18% higher than November 2008.

·    Home prices are “firming,” showing improvement over five consecutive months. Although the rise is considered mild, fewer homeowners are underwater, where they owe more mortgage than their house is worth. Because housing prices are improving, home sellers are more confident in the listing prices they’ve set.

However, many – some of whom are currently unemployed - have ARM mortgages that will be resetting shortly. While they can afford their current mortgages, many won’t be able to afford a higher one. This could bring another round of foreclosures and another drop in housing prices.

What does all this mean for Southern New Hampshire home buyers and sellers? As Ben Franklin put it, “nothing in this world is certain, except death and taxes.” However, there is also the famous “nothing ventured, nothing gained.” 2010 could be rocky, but, if you’re careful and do your research, you’ll find smooth sailing ahead.

If you’re trying to buy or sell a home, I can help.  Contact me now at 603-821-1134 or email me at dave@daveheeter.com for more information.

What to Consider Before Buying a Southern New Hampshire Condo

If a Southern New Hampshire condo lifestyle sounds interesting to you, here are a few things to consider about living in this type of residence:

Ownership
When you purchase a Southern New Hampshire condo, you own the space within your condo's walls.  The actual walls are co-owned with your neighbor, as well as the common areas like the hallways; building exterior; yard and amenities such as the pool, gym, and walking trails. 

Condo Association Fees
Each condo has Association fees that are in addition to the mortgage.  These fees are used for maintenance and repairs of the common areas.  The Association fees also pay for the landscaping and, usually, trash and snow removal.

Condo Association Rules
Associations also have rules.  They have regulations about what you can do with your property, including what kind of pets, if any, are allowed.  Most Associations don't allow making changes to the exterior of the property.  You can paint the walls inside your condominium, but can't paint the outside.

Neighbors
 So you’ve found the condominium that works for you.  The next thing to consider is what kind of neighbors you'll have.  Disruptive and noisy neighbors can ruin even the perfect condominium.  A good thing to do is stop by the condo at different times on different days, so you can get an accurate impression of what living there is really like.  Think about looking at the minutes for a recent Association board meeting.  They'll list what complaints the other owners have, and by looking at those you can get the big picture of life there.

Don’t let Association fees and close neighbors scare you away from condominium life.  While purchasing a Southern New Hampshire condo is not simpler than buying a single-family home, living in one may be. 

Thinking of buying a condo?  I can help.  Contact me now at 603-821-1134 or email me at dave@daveheeter.com for more information.

Keep Your Southern New Hampshire Home Clean the Green Way

Lots of people think about ways to save the environment in a physical manner such as changing light bulbs from incandescent to florescent and recycling, but many drop the ball when it comes to cleaning their Southern New Hampshire home. Keeping your home clean in a way that is healthy to you, your family, and the environment just takes a little extra thought and soon becomes second nature.

Danger, Danger

Get rid of any products under your sink, in your bathroom, or your cleaning closet that have danger cautions.  If they are bad for you, they are probably bad for the environment too, and why have such hazardous materials in your Southern New Hampshire home?

Labels that have cautions such as poison, hazard, and danger on them are not only bad to have around small children, the toxins leak into the air when you use them causing health problems for your family. They also leech into the environment when you use them and are hazardous for the environment.

Re-usable and Natural

Buy mop heads and sponges made from natural materials that are bio-degradable and replenishable. Check for recycled materials labels on paper towels, toilet paper, and other disposable objects so that you know those products are making the best use of production materials.

Conserve

Use as little water as possible when doing dishes by turning off the faucet while you are washing and only using running water when you are ready to rinse. Don't just think about conservation when cleaning your home. Turn off the faucet while you are brushing your teeth as well for extra savings. Remove your shoes or put a rug by the entry doors of your home to help cut down the need to wash floors.

Bring in the Green

Bring nature into your Southern New Hampshire home in the form of hanging and potted plants. In addition to converting carbon dioxide into oxygen, plants can remove other harmful chemicals from the air, providing you with cleaner, healthier air.

Want to buy a clean, green home?  Let me help.  Contact me now at 603-821-1134 or email me at dave@daveheeter.com for more information.

FHA On Solid Ground: Hope for Purchasers and Sellers of Southern New Hampshire Real Estate

The Federal Housing Administration now covers at least 30% of new home loans, so when the FHA commissioner David Stevens announced this fall that it might not make its 2% capital reserve, people were understandably nervous.  Once it was out that the FHA wouldn’t meet its 2% (please note that the FHA itself is the one who broke the news), news portals, blogs and other websites spread the news that the FHA was a train wreck. However, a follow up interview with David Stevens on CNBC cleared the air a bit and gives hope to Southern New Hampshire real estate purchasers seeking FHA loans.

It appears that the FHA, put in place for instances like this when people can’t afford other loans, actually has two capital accounts and the one with a 2% goal is a backup account.  According to Stevens, the FHA has “lots of capital in primary reserve to cover expected defaults.” Combined, FHA capital is over $30 billion dollars, and though the FHA's 2009 Actuarial Review Briefing report indicates significant losses expected on loans made before 2009, it concludes that under most economic scenarios considered the FHA’s reserves will remain positive.

The FHA has also taken action to address risks to its portfolio.  Instead of immediate risk management in the form of strict borrower guidelines (like the tighter guidelines Fannie Mae and Freddie Mac have put on condo mortgages) that might make it harder on potential Southern NH real estate owners, the FHA is going for some management and process changes. The changes include hiring a chief risk officer and requiring higher capital standards for loan originators.

At the present, says Stevens, the FHA isn’t considering a minimum credit score, and they may not have to. Looking at their portfolio, the average credit score has gone up 60 points, from 630 to 690, pointing to a higher quality of borrowers.

So, when thinking about buying Southern New Hampshire real estate and looking at mortgage companies, don’t forget to look at the FHA. If Fannie Mae and Freddie Mac are lending, the FHA is – and it’s going strong!

You can watch the CNBC video for the full interview.

If you’re looking for a beautiful home, I can help.  Contact me now at 603-821-1134 or email me at dave@daveheeter.com for more information.