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.