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.

Is FSBO the Way to Go When Selling Your Southern New Hampshire Real Estate?

Considering selling a home 'by owner' has been a fairly consistent desire in the Southern New Hampshire real estate market over the past few decades. Everyone wants to save a buck and some think they can save a lot of money by selling their homes by themselves.  But would you really save money by doing it yourself?

To start off with it should be said that there are indeed people who can sell their homes for sale by owner (FSBO) (FSBOs accounted for 9% of home sales in 2010), and some may even save a few dollars doing it. These are people who have five important skills:

   1. They have the detailed knowledge of their local real estate market to be able to appropriately price their home to get the best possible price while still attracting enough interest to get it sold.
   2. They know how to market and advertise their Southern New Hampshire real estate both online and offline without spending a fortune.
   2. They know how to pre-qualify buyers to be sure they’re actually able to afford the home.
   3. They are excellent sales people and are great at negotiating without getting emotionally involved.
   4. They know how to execute real estate contracts and all the other associated legal work necessary to sell a home.

Additionally, they need to have plenty of time to:

    * Market and advertise their home.  A lot of time can be spent writing ads, creating flyers, taking photos, and loading everything to a wide variety of real estate websites.
    * Show their home to potential buyers at times that are best for the buyer.
    * Negotiate with buyers.
    * Execute the real estate contract.
    * Follow up on any contingencies the buyer may have requested.

If you do not have those five skills or the extra time needed to perform all the necessary tasks, selling your Southern New Hampshire real estate by owner probably isn’t a good idea for you.

Instead, you can hire a real estate agent to do it all for you.  A professional real estate agent is more than just someone who puts their name on a sign on your front lawn.

    * They have significant training and experience in determining the appropriate list price for a home.
    * They are the person who is your first line of defense when it comes to dealing with buyers. They know how to be sure the person coming to look at your house really has the qualifications to actually make a purchase, not just some Sunday shopper.
    * They also have the marketing know-how and the advertising power of a real estate company behind them.
    * They have vast connections and relationships with professionals such as home inspectors, title offices and mortgage companies.  They work with these people many times a month year in and year out.
    * They’re skilled negotiators.
    * They understand what legal work has to be done and how to keep it on track. 

Obviously, a professional real estate agent saves you time, but they also save you money.  Statistics show that homes sell for more money when sold by an agent, especially in today’s real estate market.  In fact, in 2010, the typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.  That's quite a bit more of a difference than just a 5 or 6% commission! 

How can that be?  People who buy a FSBO know you’re saving money on commission and expect you to pass those savings on to them, and since most FSBO sellers aren't able to reach a broad enough base of buyers to have the possibility of multiple offers, they often get stuck with bargain hunters.

If you’d like more information on how a real estate agent can help save you time and money by selling your home, give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Source for 2010 FSBO stats: 2010 National Association of REALTORS® Profile of Home Buyers and Sellers

National and Southern New Hampshire News Roundup from December 2010

Frequently, there are news stories that impact our Southern New Hampshire real estate market.  Here are two I want to share with you this month:

Rising Interest Rates Could Get Buyers Moving

Rising interest rates may finally push Southern New Hampshire real estate buyers off the fence and into the market.  (In fact, December and the early part of January have been much busier than normal for the winter months.)

In December, after President Obama agreed to extend tax cuts for two years, the financial markets indicated this event would most likely push mortgage interest rates higher.

Analysts predict that buyers will move quickly when it looks like rates are going up and are unlikely to come down. "Once people see this might actually be the bottom, they’ll go for it," says Paul Dales, U.S. economist at Capital Economics Ltd.

For an example of interest rate increases, note what happened in December, 2010.  

    * On December 2, the 30-year fixed interest rate hovered around 4.46 percent.
    * One week later, on December 9, it was up to 4.61 percent.
    * Then by December 26, the 30-year fixed interest rate was up again to 4.875 percent.

National Foreclosure Rates Fall

Has the real estate market hit bottom?  One sign that it has is RealtyTrac’s report that foreclosures fell sharply in November.  RealtyTrac’s November, 2010, U.S. Foreclosure Market Report™ indicated a 21 percent decrease in foreclosure activity from the previous month and a 14 percent decrease from November, 2009.

According to RealtyTrac, a mortgage research firm, foreclosure activity decreased dramatically in November with fewer than 300,000 properties receiving a foreclosure notice for the first time since February, 2009.

While foreclosures typically decrease in November, and we’re sure to see a rebound in foreclosure activity, these statistics are not to be dismissed because they show the lowest level of foreclosure activity since November, 2008.  Additionally, both the 21 percent month-over-month decrease and 14 percent year-over-year decrease in foreclosure activity were the highest drops recorded since RealtyTrac began publishing the U.S. Foreclosure Report in January, 2005.

Want to know more about the Southern New Hampshire real estate market?  Give me a call at 603-821-1134 or email me at Dave@DaveHeeter.com to discuss our real estate market.  I look forward to hearing from you.

Rates versus Home Prices, plus - Vote for your Favorite Home!

Since we're rapidly approaching Christmas and most of you are probably too busy to read much in the way of real estate news, I'll keep this brief.  

If you noticed the recent increase in mortgage rates, you may be wondering how it will affect home prices.  Despite the obvious correlation that in order for monthly payments to remain the same, prices would need to be lower when there are higher interest rates, higher rates may not translate into lower home prices, since New Hampshire properties are already more affordable than they have been in a very long time.  Check out this article on the mortgage rate increase from the Smart Money section of the Wall Street Journal published on December 17th that includes a chart on interest rates versus year over year % change in home prices (with and without adjusting for inflation).

And now, for something a bit lighter: Take a look at pictures of 8 luxury homes in Asia and pick your favorite!

Okay, now get back to wrapping presents and have a wonderful Holiday!

Southern New Hampshire Homes Become More Affordable

Don’t you just love it when the evening news finally shares some good news?  I do too!  So, I want to do my part and share some good news with you today:  Southern New Hampshire homes and homes nationwide are becoming more affordable.   In fact, according to the National Association of REALTORS®, housing affordability is close to reaching an all-time high. 

Big Benefit to Buyers

Exactly how does this benefit the buyers of Southern New Hampshire homes?  A typical buyer can pay much less in mortgage costs for the same home, or buy a better home without increasing their monthly payment.

Reasons for Improvement

There are several reasons housing affordability is improving:

1. Lower mortgage rates.  The primary reason Southern New Hampshire homes are now more affordable is that we have the lowest mortgage rates in history.
 
2. Declining house prices.  As with all things real estate, local markets dictate housing prices, but, overall, prices of homes have dropped across the nation.  Some markets encountered only minimal price declines while others experienced major declines.
 
3. Higher wages.  You probably don’t feel like there’s been an increase in wages, but there has been a small one.  In 2009, the average wage rate rose 3 percent and is up an additional 1.2 percent so far this year.

The Bottom Line

If you’d like to buy a home, have good credit and a steady job, the real estate market has never looked more favorable.

Ready to buy a home?  Let me help you find the home of your dreams and get it at a great price.  Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Top 10 Reasons People Sell Their Southern New Hampshire Homes

Selling a home is never an easy decision.  If you’ve ever wondered how most people make this decision, you’ll enjoy this top 10 list.  Here are the top 10 reasons people sell their Southern New Hampshire homes.

1. Death or divorce. Death and divorce can cause major changes to a family’s financial situation. Homeowners are often unable to cover the maintenance and cost of the home on a single income and are forced to sell their home.
2. School district. People move to certain neighborhoods to be in the school district. They also leave neighborhoods because the schools have changed or to be in a district that better meets their child’s needs.
3. Job. A very common reason for selling a home is a job change. The family may need to move to a new area because of a new job. A job loss may mean the owners can no longer afford their home.
4. Marriage. When a couple with separate homes marries, they often choose to live in one home and sell the other or sell both and buy a joint home.  Marriage can also mean a change in finances.
5. Too much debt. Sometimes medical bills or consumer debt can become so overwhelming that homeowners have no recourse but to sell their Southern New Hampshire homes. Homeowners may sell their homes to avoid foreclosure or bankruptcy.
6. Need more space. Growing families need more space. A couple may discover that their cozy bungalow does not meet the needs of their small children. They may sell their home so they can upgrade.
7. Need less space. As children move out, some owners may find they need less space. They may no longer want to be responsible for cleaning and maintaining a large home.
8. Neighborhood. Neighborhoods change as people move in and out. What seemed like the perfect area of Southern New Hampshire when the owners bought their home may no longer fit their lifestyle.
9. Climate. People living in the north may decide they want a break from the snow. Residents of the south sometimes want to be in a cooler climate.
10. Home defects. Homeowners may find themselves faced with major repairs that they don’t have the time or money to fix. Selling their home and moving is sometimes a better option.

Trying to decide if you’re ready to sell?  I can help. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Southern New Hampshire Home Buyer News – Foreclosures Halted Nationwide?

Legality of Foreclosures Questioned

As a potential buyer of a Southern NH home, you may be looking at foreclosures as a way to get a good home at a great price. The Saga of the Housing Bubble continues, however, and it might just have you, the homebuyer, looking at regular housing with a more favorable eye.

In October, numerous mortgage services voluntarily suspended foreclosures nationwide, including Bank of America (which has already lifted the suspension in 23 states), J.P. Morgan Chase, Litton Loan Servicing and GMAC Mortgage/Ally Financial. The suspensions include pending foreclosures as well as foreclosure sales, as the mortgage lenders/servicers investigate flaws in their foreclosure processes. In short, there is concern that some amount of the foreclosure documents were improperly reviewed and improperly handled, which could potentially cause title issues for current owners.  For those of you wanting to buy a foreclosed Southern NH home through one of these companies, it may be a long wait.

A task force including representatives (mostly attorneys general) from all 50 states is investigating the mortgage foreclosure practices of several major lenders and has been working to arrange meetings with the lenders.  Thanks to nationwide, coordinated efforts of State Attorneys General, at least 17 of the states are probing all lenders’ foreclosure processes independently for accuracy with respect to state laws.

Depending on who you ask, this drama could take a very long time to unfold or it could be resolved quickly.  In general, the lenders don’t expect to find many problems because most foreclosures are believed legitimate. However, because each state has it's own foreclosure laws, national lenders must follow many variations of the foreclosure process, which naturally makes it easier for them to make mistakes.  Even if it only lasts for a few weeks, some buyers are left sitting with an offer on the table and no closing.

With the foreclosure processes being reviewed and many of the sales halted, buying a foreclosed Southern New Hampshire home may not be as ideal as you think – at least for a little while. Don’t give up hope on owning your own home, however. Instead, take a few minutes to look over the other homes for sale. Your dream home and great deal may not be a foreclosure after all!

If you’re looking for a beautiful home of your own, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

The Difference a Price Range Makes for Southern NH Homes For Sale

Although in a general sense, the Southern New Hampshire real estate market is not in very bad shape the way much of the US is, there are Southern NH towns and price ranges that are still struggling.  Price range is a huge factor that both buyers and sellers need to be aware of.

When you're selling, sometimes the difference between being on one side of a price point versus the other is the difference between having showings on your home and wondering if your home is actually on the market.  (Don't forget to track online viewings -- many buyers today are more savvy about searching for a home and will only go see their favorites in person after a vigorous online vetting process.  Your online presence must be top notch.)

For buyers, you have to realize that even if most of the market is sluggish, when you are looking in the lower price ranges at the best houses, you may have competition, and you're not going to get a huge discount off the asking price on the pick of the litter, so to speak.

To illustrate my point about price ranges, let's take a look at some basic market statistics for the 4 towns of Nashua, Merrimack, Hollis and Hudson.

First, for the price range of $150,000 to $250,000

• As of today, there are 173 residential homes for sale in these four towns.  
• 62 homes are under contract.
• 89 homes have sold in the past 90 days and a total of 201 in the past 6 months.

This means that there is currently about 6 months worth of inventory in this price range, which actually is within the 'Balanced Market' range for supply v.s. demand.  (Keep in mind, this doesn't mean prices are going up yet, it just means there isn't a strong downward pressure on prices due to lack of demand.)

Next, for the price range of $250,001 to $350,000

• Nashua, Merrimack, Hollis and Hudson have 156 homes for sale in this price range.
• 25 homes are under contract.
• 64 homes have sold in past 90 days and a total of 171 in the past 6 months.

This means there is currently about 7 months worth of inventory in the higher price range (yes, it keeps getting getting worse - or better, if you're a buyer! - the higher you go in price).

Differences in market activity are most obvious at $100,000 and $50,000 price points, but even above and below a price like $275,000 can have a noticeable difference in market activity.

If you're a seller and would like to know what the supply v.s. demand situation is in your price range and location, I can provide you with a 1 page Market Overview for your home.  Just give me a call at 603-821-1134 or email me at Dave@DaveHeeter.com.

Big Kitchens Becoming Bigger Selling Points for Southern NH Homes

If your Southern NH home for sale has a big kitchen and you haven’t already marketed this feature, it may benefit you to do so, thanks to a recently noted trend.

With the wobbly economy, the national unemployment rate is still sitting above 9%.  (New Hampshire's unemployment rate was only 5.7% in August.) Many young adults just out of college are having trouble finding jobs. In fact, the age group hardest hit seems to be between 16 and 24. As well, there are a number of people without homes due to foreclosure. How are Americans weathering the economic fallout? Many are doing so by consolidating multiple generations into one home.

2 Things That May Change How You Market Your Southern New Hampshire Home for Sale
A Pew Research Center study on living conditions and an Associated Press - iVillage poll on dinner habits may change how you market your home.

The Pew study, based on information gained from the Census, shows that over 16% of U.S. households had multiple generations living together by 2008. Although the results of 2009 and 2010 aren’t in yet, you can assume with reasonable surety that this trend continues to rise.

The iVillage telephone survey shows that over 60% of families – no matter how big or small – still eat together. Granted, dinner may be full of texting, phone calls and TV, but it’s also full of home cooked meals most of the time.

What does this mean for you and your home?
A larger family in one household, eating home cooked meals together, equals the need for a bigger kitchen. According to several surveys through the years, dinnertime is one tradition that’s held on – despite both parents working. Also, keep in mind that the cost of eating out may have many more people eating at home.

Lastly, buying bulk food, which also needs bigger kitchens, is fast becoming another trend. According to the Bulk is Green Council, bulk buying is one of the biggest money-saving trends for this year.

The next potential buyer may just be looking for a big kitchen. If you have one, it may be the number one benefit of your home. Don’t sell it short. Make sure the large kitchen and/or dining area is highlighted in the marketing material for your Southern New Hampshire home for sale. With the above-mentioned trends, big kitchens are – well, big!

If you’re looking for a home with enough room to make and sit down to a home-cooked meal, I can help. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Economy Bringing Families Closer Together in Southern NH Homes

Although the slowed economy has been a catalyst for many unfortunate changes, some of the trickle-down effects have had a positive impact on Southern New Hampshire homes and homeowners. One of the most notable effects is that families are drawing closer together.

Over the past thirty to forty years, the “steps” to take for growing up were always one: grow up and two: move out. Few parents ever considered that their now adult children might be moving back in to their quiet, empty Southern New Hampshire homes. However, with the economic problems hitting millions of Americans, the number of multi-generational households is growing.

During the Great Recession and more specifically in 1940, approximately 25% of households were multi-generational. Homes often held children, grandchildren, and sometimes even great grandchildren – four familial generations. However, as the U.S. economy began to prosper and the baby boomer generation grew into adults, more homes became single family households. By 1980, only 12.1% of homes held more than one generation.

Now, the percentages are once again beginning to climb. Loss of jobs, foreclosed homes and lack of security has contributed to approximately 49 million Americans, or 16.1%, living in multi-generational homes. While this is far from ideal for those in a hurry to leave the nest, the benefits are many.

When asked what it was like moving back in with her parents, one single mother said, “It was hard at first, redefining the boundaries, but having my parents around has been a blessing in disguise. My kids have a stabilizing influence and extra attention, while I get occasional breaks that I normally wouldn’t get. We eat dinner together too, which helps build the family atmosphere for my kids. It’s not all smiles and roses, there’s a lot of compromise, but it works.”

For those who have been thinking about letting your family move in to your Southern New Hampshire home, try to consider more than just the negatives. Look at the positives as well.  And what could be more positive than closer family ties?

Whether you need to upgrade to a bigger family home or downgrade to a smaller one, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Nashua Housing Market Statistics in a $30,000 Price Range - A Quick Overview

Market Overview

The Nashua Housing Market as of 8/24/10 in the price range of $250,000-$280,000

Active Residential Listings: 8

Contingent or Pending Residential Listings: 2

Sold Residential Listings (past 90 days): 4
Sold Residential Listings (past 180 days): 11
Sold Residential Listings (past 365 days): 20
(Average Days On Market for those Sold properties was 80)

Based on the average of 1.6 sales per month for the past 365 days,
the current inventory represents about a 5 month supply of Nashua homes in this price range.
(5-7 months worth of inventory is generally considered a balanced market)

Wondering if your local market has stabilized?

I provide a free resource so you can research property values in any New Hampshire community, including Nashua, Merrimack, Hollis, Hudson, Brookline, Milford, Amherst, Bedford, Manchester, Derry, Litchfield, Londonderry and Windham!

Sample Report!

Click here

Market Snapshot Request Form

to receive a detailed report with list prices, sold prices, maps and charts on your community or neighborhood sent directly to your email!

Includes Bird's Eye view of properties!

The Southern New Hampshire Real Estate Market: Doom and Gloom or Happiness and Sunshine?

Or





A recent report released to the New Hampshire Association of Realtors by
Peter Francese, a local demographics and consumer markets expert, reveals interesting facts about New Hampshire's real estate situation.

Despite ongoing negativity in the national media, New Hampshire stands apart from the crowd with some positive trends.

*All but one of New Hampshire's counties saw an increase in the median sales price from the first 6 months of 2010 compared to the first 6 months of 2009.

*All of New Hampshire has seen an increase in the number of units sold in the same 6 month comparison period with Hillsborough county having a 10% increase and Rockingham county having a 22% increase!

*Median sales price in these two counties has only increased by 1% and 3% respectively, but hey, it did go up, and that's more than can be said for most of the country!

Francese suggests that one reason the New Hampshire real estate market is bucking the national trend is that the demographics of our state are significantly different from the rest of the U.S. as a whole.

For one thing, his research has showed that the percentage of adults currently in their peak earning years (the age range of 45-54 years old) is 19% nationally and 22% in New Hampshire. This translates into more homeowners, with an average of 74% of adults in that age range being homeowners compared with only 45% of households ages 25 to 34.  (Email me at Dave@DaveHeeter.com for a chart showing the distribution of the number New Hampshire residents by age in 2010. -Also available for Hillsborough and Rockingham counties.)

The shifts taking place in the demographics of New Hampshire indicate that we'll see a strong increase in demand for retirement homes as well as small starter homes.  (For a chart showing age shifts in the US and New Hampshire - Hillsborough or Rockingham counties - from 2000 to 2010, email me at Dave@DaveHeeter.com)

Hillsborough county currently has 2,302 single family homes for sale and 3,002 single family homes have sold in the past 365 days in the county.  For condominiums, there are 1,797 active listings and 1,083 sold in the past 365 days in Hillsborough county.  Thus, in Hillsborough county, single family homes as a whole have a better absorption rate than condominiums.  Individual cities/towns and specific price ranges can and do vary widely from these general numbers. 

For specific details on recent property sales in your city or town in Southern New Hampshire, give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com!

Worried About Your Home for Sale in Southern NH? Survey Reveals Possibilities

Many real estate aficionados worried that the ending of the homebuyer tax credits would mean an end to sales. However, a new real estate survey, conducted April, 2010, says homeowners with a home for sale in Southern New Hampshire and throughout the nation have more chances to sell their homes.

Survey Group
·    1,000 American consumers
·    Ages 25 – 64
·    $35,000+ household income

Survey Results
·    Over 90% of American consumers think the homebuyer tax credit program helped the real estate industry and first-time buyers.
·    65% actually looking for a home don’t consider the end of the tax credit program to be a factor in their own decisions.
·    46% expect area real estate prices to increase over the next year.
·    12% expect area real estate prices to decline over the next year.
·    79% expect to see an increase in prices over the next five years.
·    20% expect prices to rise significantly over the next five years.
·    75% of renters think renting isn’t as good a long-term choice as owning a home.

How You Can Benefit
As the survey shows, there are still plenty of interested buyers out there.  You just have to know where to find them.

Talk with your agent about which markets are hot in your area. For instance, have older individuals been buying in the area more than young families or vice versa? Maybe energy efficient homes have been selling better. Find out what your home for sale in Southern NH has going for it that matches those hot markets.

Most importantly, don’t give up. Buyers are out there and consumer confidence is rising, which means nothing but good things for the real estate market and your home for sale in Southern New Hampshire.

Want to work with an agent who can identify and target hot markets for your home?  Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

What Future Buyers Are Looking For In Southern New Hampshire Homes for Sale

Owners of Southern NH homes for sale are wondering, “What are buyers looking for?” This is especially true if the home has been on the market for a while. Well, homeowners aren’t the only ones. Several companies, including Better Homes and Gardens and Avid Ratings, the exclusive research provider for the National Association of Home Builders, have researched this question.

So, what are buyers looking for in national and Southern NH homes for sale? In a 2010 Avid Ratings homebuyer’s study, over 22,000 homeowners who bought their homes in the past nine years reveal their preferences. In short, the study says practicality beats out extras any day.

The days of formal dining rooms, oversized backyard patios and community clubhouses are gone.
Swimming pools aren’t that big a deal, but neither are upstairs laundry rooms or home theaters. These extras have been replaced by practicalities such as:
·    Children’s playground
·    Walking paths
·    Large kitchens (with island if possible)
·    Home office or study
·    Main-floor master bedroom
·    Two-car garages
·    Oversize showers with seating

As well, although buyers are willing to have less space, they’re big on “green” features such as high-efficiency windows, insulation and appliances.

The home survey by Better Homes and Gardens reveals much the same information. More homeowners and potential buyers are thinking of downsizing into smaller, greener homes. Again, high-efficiency appliances topped the interest levels, with a lean towards Energy Star appliances.

The home office is still a priority, although it doesn’t have to be dedicated space; many would be perfectly happy with a multi-purpose space instead. The real key, however, is no wasted space, along with ample storage.

If you’re considering doing any amount of remodeling to excite potential buyers, the information contained in these surveys are priceless. If you’re one of the owners of Southern New Hampshire homes for sale thinking your house is too small, it’s great news. If you thought you might upgrade to more energy-efficient appliances, you’re on the right track. Consider what you can do to make your home more “future buyer” friendly!

If you’d like to sell your home or are looking for a more energy-efficient home, I can help. Call me now at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Reports Say, “Yes, You Can Buy a Southern New Hampshire Home for Sale!”

If you’ve been looking at your finances to see if you can afford a Southern New Hampshire home for sale, or a home in any area for that matter, a new report from the National Association of Home Builders and Wells Fargo says, “Yes, you can!”

According to this report, the prices for over 72% the homes purchased in the first quarter of 2010 were affordable for families making an annual income of $63,800 (the median national income).  One of the main reasons for this is because of the national median price: just $175,000. Adding to that is the still historically low interest and mortgage rates, as well as companies once again beginning to hire new employees. These “affordability” numbers are based on 28% or less of a family’s take-home pay.

Many new homebuyers agree that housing is very affordable these days. The National Association of REALTORS® released the statistics for existing home sales on May 24.  April saw a 7% increase in sales from March, and Freddie Mac reports that 30-year, conventional, fixed-rate mortgage commitment rates rose to 5.10% in the same month.  Recent reports from mortgage lender indicate rates below 5%!

What Does This Mean for Buyers and Sellers?
While this still means slow going for those with a Southern New Hampshire home for sale, this means an incredibly hot market for buyers.  With over 4 million homes available for sale, sellers are definitely competing with each other.  In many places across the country, homeowners have dropped their prices 10% to 50% in an effort to attract attention.

Can You Afford a Home?
If you’re looking at the real estate market and wondering if you can finally afford the home of your dreams, it’s time to quit wondering. Start doing your research.

Before you begin shopping for a home, shop around for a lender. Finding a good lender with reasonable rates is one of the best first steps of buying a home.

Next, get pre-approved for a mortgage.  Pre-approval lets you know how much you really can afford and whether your credit is acceptable for a mortgage. As well, if you do find the home you’ve always wanted, being pre-approved gives you a strong standing in negotiations, because the seller knows you’re seriously looking for a home.

Finally, if you can afford a Southern New Hampshire home for sale and have been waiting for the best time, you’ve reached it. There’s never been a better, more affordable time for buyers in the last 50 years.

If you’re looking for your dream home, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com.

Europe’s Crisis a Plus for Southern New Hampshire Homes for Sale?

Europe, or more correctly, Greece, is having a debt crisis that may end up being a great boon for national and Southern New Hampshire homes for sale. The euro, Europe’s currency, dropped drastically and Europeans responded by exchanging euros for the American dollar.

Help for Southern New Hampshire Homes for Sale
As more money pours into the U.S. “safe haven,” interest rates drop. Although interest rates may rise again once global economies begin to recover, the real estate market will benefit during this period of European instability. In fact, the mortgage markets are already benefiting.

On May 20, Bankrate.com, known for its accurate reporting of average national mortgage rates, reported the lowest 30-year fixed-rate mortgage in almost 25 years. At the time of the report, national averages hit at 4.96% for a 30-year fixed mortgage, 4.34% for a 15-year fixed and 4.14% for a 5-year ARM (adjustable rate mortgage).

Pessimists vs. Optimists
Pessimists believe that the low mortgage rates won’t affect home sales, because of the large influx of buyers who beat April’s tax credit deadline. In short, their view is that all the eligible homebuyers have already signed closing papers.  They think that a few more buyers may trickle in before the busy season for real estate is over, but their general attitude is that the fat lady has already sung.

Optimists, as usual, have a much brighter point of view about the economy. Banks, they say, are finally letting some of the much-talked-about shadow inventory into the light. Unemployment seems to have slightly reversed, retail sales are up and manufacturing inventories are increasing – all of which indicate a stabilizing economy. Although even optimists aren’t betting on a huge real estate boon, they do point to an uphill trend.

Questions for You
Which are you, an optimist or a pessimist?  And, how can there be such a big difference in real estate market outlooks when all the experts are looking at the same information? Lastly, if you’re trying to sell your home, can you really afford to be pessimistic?

Here’s a hint: the attitude you have about your chances of selling will carry over to the results you achieve. Think positive, even when you hear about downturns.  You’ll have a better chance of getting your home sold than other Southern New Hampshire homes for sale!

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

Where Can I Find XYZ On the Southern New Hampshire Real Estate Market?

If you’re like me and other real estate agents, home sellers, homebuyers and homeowners, you’re always looking for a great resource for information on the Southern New Hampshire real estate market. You have questions and you want answers.

·    What are the mortgages like in this area?
·    What are the current selling prices for homes?
·    What’s a specific neighborhood like?
·    Is there anything besides the economy affecting the Southern New Hampshire real estate market?

For instance, you want to know current market trends. Are they stabilizing? Are things still sliding down hill? Is there a buying trend sellers can take advantage of to market their homes? While a professional real estate agent will help you sell or find a home, it doesn’t hurt for you to do some research on your own to become more knowledgeable. Who knows, you may come up with some ideas we haven’t thought of!

So where can you find reliable information on the real estate market? On the Internet, there are thousands, perhaps millions, of informational sites. Below are just a few of my personal favorites:

CNNMoney.com (real estate) – The information on CNNMoney.com has no bias in terms of convincing you to sell or buy. Where are home prices falling? Where are they strongest? What information do you need to know as a buyer or seller? From mortgages to pricing and market stability, you can find it here.

RISMedia.com – If you can’t find it on CNNMoney, you can most likely find it on RISMedia. Home improvement, financing and foreclosure information are just a few of the topics. As well, because RISMedia is actually involved in real estate, you can find the latest market information.

DQNews.com – DataQuick provides real estate data on a state-by-state basis or on a specific area. While the information can be a little technical for the non-real-estate-professional, if you want to know how the Las Vegas region is doing for home sales, or the average mortgage rates in Missouri, DQ can help. New Hampshire is currently one of the areas where you have to pay for the data, but it’s fairly inexpensive and can give you great information.

DaveHeeter.com – For a free snapshot of the current market conditions in your neighborhood or town direct from the MLS, request a Market Snapshot on my website.  For more info, go to my blog describing this service I provide: Southern NH Real Estate Info!: Has the Market Stabilized? See data on Southern New Hampshire homes.

If you’re interested in the Southern New Hampshire real estate market in any way, bookmark this blog and the listed sites for easy reference. The more you know, the better you can prepare for upcoming trends, good or bad!

If you’re trying to sell your home, or are looking for your dream home to buy, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

2 Big Housing Trends That May Affect Your Home for Sale in Southern New Hampshire

The real estate market is shifting toward some definite trends that may affect your home for sale in Southern New Hampshire.  Since 2006, the median cost of a home has dropped almost 30%. The good news, according Moody’s Economy.com, is that most of the nation’s metropolitan areas are expected to see less than a 5% drop in prices a year from now. Even better news, 10% are expected to see modest increases. 

If you have a home for sale in Southern New Hampshire, keeping an eye on the trends can greatly increase your chances of selling, no matter what the area. Here are two of the biggest trends:

Trend #1:  Home Prices Staying Down
Home inventories are slowly creeping back up, and another 3 million distressed homes are expected to be foreclosed on this year. As well, one-fourth of current homeowners are now underwater with their mortgages, and 18% of borrowers are choosing to walk away. In short, stressors on the current housing market may very well push national median prices down another 5%, as mentioned above.

How can I take advantage?
With the glut of foreclosed homes, they’re likely to be your highest competition.  That means competing in price could be disastrous. Instead, play up the advantages of your home. For instance, foreclosed homes may need a lot of fixing up.  To compete, make sure your home is inspected and fixed up before it’s listed. Once you know there aren’t a lot of problems, add a one-year warranty for the buyer that covers fixes such as the furnace or water heater. It’s inexpensive and may very well make the difference in how quickly and at what price you sell your home.

Trend #2:  Small Homes Selling Faster Than Large Homes
Larger, more expensive homes now have a 20-month backlog in inventory. They cost more and require a larger financial commitment. According to the National Association of Home Builders (NAHB), the median home size dropped from 2,300 in 2007 to 2,100 square feet in 2010.

How can I take advantage?
If you have a large home, don’t wait until prices dip further; put it on the market now. The major key to getting it sold now is price.  Keep the price competitive, and start out low enough so that you won’t have to drop the price more than once. This is a red flag for buyers.

If you have a smaller home for sale in Southern New Hampshire, you’re already set to take advantage. People also want to lower their energy bills, which usually happens with a smaller home.  Market these advantages for a better chance of selling.

If you want to sell your home, it helps to keep up with the housing trends and look at each one to see how you can take advantage of it.

If you’re trying to sell your home, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Economists Predict Second Quarter Woes Fading for National and Southern New Hampshire Real Estate

Government support in the national and Southern New Hampshire real estate sectors is slowly being pulled back. For instance, the federal homebuyer’s tax credit expires this month and the Fed stopped purchasing mortgage-backed securities in March. These two changes in financial backing for the housing market are causing worry because people fear the expiring tax credit will cause a dramatic drop in sales, the way a retail store's volume of sales dips immediately after the boom of business caused by a store-wide sale.

An important question right now is how much did the government support really help the national and Southern New Hampshire real estate markets and the economy?

The Economy
Dean Maki, chief U.S. economist for Barclays Capital (New York) and one of the most accurate economic forecasters for the past 20 years, says the U.S. economy is on the rise. Many economists share Maki’s view: We’re at the bottom and there’s no place left to go but up.

The Fed Stops Buying Mortgage-Backed Securities
The largest hurdle for the real estate market came at the end of March, as the Fed finished buying up $1.25 trillion worth of mortgage-backed securities and taking care of housing-agency debt to the tune of $175 billion. However, strategists and economists conclude that the change won’t have a lot of impact; the central bank will be replaced by private demand.

The Expiration of the Homebuyers Tax Credit
The second largest hurdle, the expiration of the homebuyers’ tax credit, might have a bigger impact if it had brought a huge sales increase. It didn’t, however, and the belief is that things will slowly improve with – or without – the credit. Although vacant housing rose to 2.09 million by the end of 2009 and foreclosures are expected to hit around 2.2 million this year, the number of new households may reach as high as 1.25 million.

The Good News
Of the potential 1.25 million new households, almost 1 million are currently living with family members. With home sales gradually improving, economists predict that even a slight improvement in the job market will bring those 1 million households out of the woodwork to find a home. When this happens, the excess housing supply will quickly disappear.

If you’ve been stuck, waiting to sell your Southern New Hampshire real estate, your home is part of the housing supply. With the housing market slowly improving, you may very well end up coming out on top within the next three to six months.

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

April 5th 2010 – An Important Date for Southern New Hampshire Homes for Sale

April has a lot of important and semi-important dates in it. The tax deadline, Good Friday and Easter are just a few. What is April 5th, though, and what does it have to do with Southern New Hampshire homes for sale? Well, the biggest news is that the government has stepped into real estate and short sales.

While home sales are up nationally and locally, partially due to the Obama administration’s efforts with the first-time buyer’s tax credit, many homebuyers seem to be waiting for a better interest rate or to see if home prices will drop more once the tax credit expires at the end of this month. Meanwhile, owners with Southern New Hampshire homes for sale are preparing for the spring selling season, without any idea whether they’ll actually be able to sell or not.

Part of the reason for this situation is because of the depreciated housing values. For instance, many potential buyers want to take advantage of the repeat buyer’s tax credit, but can’t. They currently own a home that’s facing foreclosure, are trying to sell that home, but can’t because it’s underwater. This is slowing the recovery of the whole market.

The government’s solution is short sales. There’s always been the option for those facing foreclosure to apply for short sale instead, but (thanks, in part, to the many scams out there) few choose this option. The Obama administration has decided that, if they can’t help with foreclosure, they’ll pay people to accept short sale.

As of April 5, 2010, the government is encouraging delinquent borrowers who can’t be helped through loan modification programs to go through a streamlined short sale process. Many potential short sellers have gotten offers the lenders won’t agree to, which this program called HAFA (Home Affordable Foreclosure Alternatives) is geared towards fixing. Here’s how:

·    The servicing bank gets $1,500 for administrative & processing costs.
·    The homeowner gets $3,000 in relocation assistance.
·    The investor is given up to a $2,000 match for allowing a total of up to $6,000 in short sale proceeds to be distributed to junior lien holders (up to 6 percent of the remaining balance of each junior lien).

Even with this program, lenders are wary of short sales. Depending on the price of the short sale, there’s a possibility that lenders could lose a large amount of money. However, under the new program, real estate agents will be working with participating lenders to determine the value of the home and what the minimum price should be. If the short sale offer meets or exceeds that minimum, the lender has to accept it. 

The hope is that this program will slow the tide of foreclosures, free homeowners up to become repeat buyers, sell more homes and, ultimately, improve the flow of the real estate market. The good news about all this is if the program does even a quarter of what the administration plans, there may not be enough Southern New Hampshire homes for sale to go around!

Have questions about the new HAFA program or any other real estate incentive programs?  I’m happy to answer your questions.  Give me a call now at 603-821-1134 or email me at Dave@DaveHeeter.com.