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!

Projects that Don’t Add Value to Your Southern NH Home for Sale

There is no simple way to discover which home-improvement projects will yield the highest return when you’re ready to sell your home. There are many variables that come into play such as the state of the real estate market when you put your Southern New Hampshire home up for sale, how old your home is, and the style of your home.  However, some improvements will definitely not be a wise use of your money immediately prior to selling your home.

Here are several costly projects to pass up if you want to get the biggest bang for your bucks:

Extravagant Landscaping

Buyers expect a well-maintained yard; they don't expect the home's value to increase because of it. Beautiful landscaping may encourage potential buyers to take a closer look at your Southern NH home for sale, but it most likely will not add to the selling price. If a buyer is unable or unwilling to put in the effort to maintain an elaborate garden, it becomes a negative feature rather than a positive one.

Swimming Pool

A swimming pool seems like fun to have, but can actually be more of a hassle than a pleasure.  Many potential buyers consider swimming pools expensive and time consuming to maintain. Buyers may say no to an otherwise perfect house if it has a pool. Or, they may include in the contract a stipulation that the seller has to take down an above-ground pool or fill in an inground pool, at their own expense, before closing.

High-End Upgrades

Buyers don’t want to see the absolute cheapest renovations in a Southern NH home for sale, but they also don’t want to pay more for the highest-priced upgrades that they don’t need. Marble countertops in a kitchen and a built-in sauna in a bathroom are nice, but unless you have a high-end home in a high-end neighborhood, don’t expect to get your money back from these upgrades.

Don’t spend thousands of dollars on a home-improvement project that will not increase your home's value when it comes time to sell. Do spend money on projects that will make your home a wonderful place to live in now and that may increase the selling price when you’re ready to sell.

Are you ready to sell your home? I can help. Give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com.

10 Tips for Safely Decking the Halls of Southern NH Homes

At this time of year, we typically don’t think a lot about safety. We’re all too busy running around shopping and decorating our Southern New Hampshire homes.

Have a fun, merry and safe holiday this year by implementing these 10 safety tips:

1. Never use lighted candles on a Christmas tree, whether it’s an artificial or live tree.

2. Purchase artificial trees with a Fire Resistant label. This label doesn’t mean the tree can’t catch fire; it means the tree will resist burning and should extinguish quickly.

3. Check for freshness when purchasing a live tree. Needles that are hard to pull away from branches and that do not break when bent indicate a fresh tree. Sticky resin on the tree’s trunk is another sign that a tree is still fresh. Old trees can be fire hazards in Southern New Hampshire homes.

4. Chop a few inches off the trunk of your tree to expose the fresh wood. This allows for better water absorption and will help to keep your tree from drying out and becoming a fire hazard. Water your tree regularly.

5. Avoid sharp or easily breakable decorations and small, removable items that children can swallow. Eliminate decorations that look like food or candy. Children may try to eat them.

6. Limit the number of standard-size light sets plugged into one extension cord to three.

7. Turn off all Christmas tree lights before you go to bed or leave your home. The lights could short out and start a fire.

8. Don’t burn wrapping papers in your Southern New Hampshire home’s fireplace. A flash fire may result, as wrappings ignite suddenly and burn intensely.

9. Remove all greens, boughs, papers, and other decorations from around the fireplace before lighting a fire.

10. Check labels on lights you’re planning to use outside to be sure they’re certified for outdoor use.

I hope you and your family have a very Merry (and safe) Christmas!

Are You Pre-Qualified, Pre-Approved or Approved for a Southern New Hampshire Real Estate Mortgage?

One of the more frustrating aspects of buying Southern NH real estate is qualifying for a mortgage that will allow you to buy the home of your dreams. Lenders use terms to describe your loan status that may be confusing.

For example, what is the difference between being pre-qualified, pre-approved or approved for a mortgage on your Southern New Hampshire real estate?

·    Pre-Qualified – This just means that the lender may approve you for a loan if everything checks out. Pre-qualification is based solely on information you give the lender about your income and debts. This is no guarantee that you will get a loan. People do sometimes omit important details about their finances (whether accidentally or intentionally), so the lender won’t even be able to give you a possible loan amount at this point.

·    Pre-Approved – Once your lender pulls your credit report, they can give you an idea of what kind of loan you may get. When you’re pre-approved, you still have no guarantee that you will get a loan, but you have a better idea of your price range. Sellers like working with people who are pre-approved because it shows that their credit has been verified, and they are more likely to qualify for a loan.

·    Approved – When you are approved for a loan, your financial records have been verified, and the lender can say for sure how much they are willing to lend you for a particular home. You can be approved for a mortgage only after the lender has approved both you and the home. Once you have approval, you can move forward with the purchase.  This is why a financing contingency is included in the standard Purchase and Sales agreement used in New Hampshire for writing contracts to buy and sell property.

For more information about the mortgage approval process for purchasing Southern New Hampshire real estate, call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.

4 Things to Know Before Putting Your Southern New Hampshire Home for Sale

The real estate industry is full of numbers and metrics that can influence your home for sale in Southern New Hampshire. Here are just a few you need to know before putting your house on the market:

1.    Pricing – Is your home for sale in Southern NH worth more than you bought it for? Even now, it’s a possibility. Check the average sales prices for the homes in your area, neighborhood and street. You might be pleasantly surprised. Contact your local agent for the information.

2.    DOM – Days on Market is the time period a home sits on the market before going under contract. Currently, the average days on market in almost any area are rather high, but the actual metric tends to change depending on the price of your home. If you’re faced with a timeline and have a set goal for the sale, the average days on market for your area is a number you need to know. Again, you can ask your local real estate agent.

3.    List Pricing – The average list price tells you how much your competition is asking for. If you’re trying to sell your house way above the average list price, it probably won’t leave the market.

4.    Competition – How much competition do you really have? How many “For Sale” signs are up? The higher the inventory, the lower your chances of selling the home quickly.

Of all the numbers to know, these are at the top.  The best way to sell your home for sale in Southern New Hampshire is to do the research – and then hire a proven real estate agent (or, even easier, have your agent do the research for you)!

If you want to sell your home and need current information, I can help. Call me now at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

8 Low-Cost Decorating Tips to Make a Small Room in Your Southern NH Home Seem Bigger

Do you have a small room in your Southern New Hampshire home that you’d like to make larger, but you don’t have the money in your budget to tear down a wall or add on to the room?  By using a bit of creativity, you can make that tiny room look larger without breaking the bank.

 Here are 8 low-cost decorating tips to make any room in your Southern NH home look bigger:

   1. Leave open space.  Place taller pieces of furniture along a wall rather than out in the open space.  To prevent blocking the view into a room, use shorter pieces of furniture like an ottoman or a low table.   The more open space you can see, the larger the room will look.

   2. Brighten the room.  A well-lit room looks larger, whether it’s brightened with natural or artificial light.  Remove heavy, dark draperies to let the natural light into the room.  Install track lighting or recessed spot lighting, which is perfect for a small space.

   3. Lighten up the floor and ceiling.  Open up the room by using a white or very light color on the ceiling.  Use light-colored flooring such as light oak or a light-colored carpet to make the room appear bigger.

   4. Reduce the amount of furniture.   This goes back to leaving open space.  Keep only those pieces of furniture that you really love or really need in the room.  Get rid of everything else.

   5. Switch to glass.  Using a glass-topped dining table, end table or coffee table gives the appearance of an open space, even though there isn’t.

   6. De-clutter.  Too much stuff makes even a large room seem small.  Organize anything you must keep.

   7. Choose light colors.  Light, cool colors like pale blue and light green can make the smallest space feel open and airy.

   8. Use a monochromatic scheme. Take those light colors one step further by using colors all in the same family. When you look around a room that has the same color scheme for the furniture, flooring and walls, you believe there’s more space than there really is.  Contrasting colors break up a space. Furniture is less interrupting and blends with the space if its color matches the wall.

Want a Southern New Hampshire home with large rooms?  I can help.  Give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com.

How to Interview Southern New Hampshire Real Estate Agents

Choosing a professional real estate agent can be a very imposing task. This person is responsible for finding your new home or selling your home, guiding you through the home inspection process and negotiating a good price and terms. These are important tasks that should be taken seriously. That’s why finding a skilled real estate agent is key to a successful real estate transaction.

If you can't get a strong recommendation for an agent from a trusted friend, here are several tips for interviewing Southern New Hampshire real estate agents:

• Interview at least three agents. Even if you love the first or second agent you interview, promise yourself you’ll interview all three. You learn more from each interview, and you never know when that third agent is going to be the perfect match for you.

• Ask all three agents the same questions so you can compare their answers and ability to communicate. Write out your questions so you don’t forget any, and take notes during the interviews. You think you’ll remember what they say, but the specifics will begin to blur as you interview the second and third agent.

• Ask the Southern NH real estate agents how long they've been in business and how many homes they’ve helped people buy and sell during the last year. An agent with experience is a very valuable asset, but with the current fluctuations in real estate, an agent with recent experience is even more valuable. Also ask how long they've been helping people buy and sell homes in the area in which you want to live. You want a real estate agent who is an expert on that neighborhood.

• Get at least three references of past clients from each of the Southern New Hampshire real estate agents. Then follow up with those references. Ask a variety of questions such as:

o What was it like to work with the agent?
o Would you work with him or her again?
o What was your least favorite thing about working with the agent?
o What was the best thing about working with the agent?

If you’re looking for a professional real estate agent, I’d be honored to be interviewed for the job. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com to schedule an interview.