Author Archives: Jennifer Cote

About Jennifer Cote

Real Estate junkie, appraiser, sell, buy, analyze, research,passion, invest, environmental, crunchy, municipal, planning, efficiency...everything real estate!

Pelham High School Homecoming Weekend 2015

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PelhamForGodandCountrySquare

For God and Country

I was going to post my flyer below about the Library Book and Bake Sale this weekend on Facebook. I’m a parent evangelist for the Boy Scout’s, and they are hosting the bake sale. Lot’s of homemade goodies…the gluten free peanut butter cookies are my creation.

To the point, this weekend is also Pelham High School’s homecoming weekend. I received an email this morning; the activities are pretty great!   I could not find a link to the activities so thus the post.  Get out this weekend, there’s lots to do in Pelham!

PelhamNHhigh

HS Addition Open House:  The HS will be giving tours of the new addition Saturday, September 26 at 10am and 1pm.  All are invited!

Friday September 25th

  • 4:00pm:  Varsity Field Hockey vs John Stark ( Harris Field )
  • 5:15pm:  JV Field Hockey vs Souhegan ( Harris Field )
  • 5:00pm:  JV Volleyball vs West ( PHS Gym )
  • 6:15pm:  Varsity Volleyball vs West ( PHS Gym )
  • Annual Student Bonfire- DJ, Dancing, games and Cash BBQ- Sponsored by the Class of 2017

Saturday September 26th

  • 8:30am:    Homecoming Athletes Breakfast ( PHS Café ) All Athletes, Alumni and Staff Invited
  • Henna Tattoos and Rally towels- all day- Sponsored by the Class of 2018
  • Glow Sticks and Novelty Items all day- Sponsored by the Class 2019
  • Mattress Sale in the gym all day – Sponsored by the PHS Band
  • Tile Painting in the café 10am-5pm- Sponsored by National Honor Society
  • Homemade Chowder sales 10am-5pm – Sponsored by the Robotics club
  • Spirit Bracelets, Balloons and Cookie sales all day- Sponsored by the Drama Club
  • Tours of the New PHS Building will be held at 10am and 1 pm
  • 10:30am:  Boys JV Soccer vs Pembroke Academy ( PHS Soccer Field )
  • 12:00pm:  Girls JV Soccer vs Windham ( PHS Soccer Field )
  • 1:30pm:    Girls Varsity Soccer vs Windham ( PHS Soccer Field )
  • 3:30pm:    Boys Varsity Soccer vs Farmington ( PHS Soccer Field )
  • 6:00pm:    Football Game vs Milford ( Harris Field )

Just my thoughts. -Jenn

BoyScoutBakeSale

Do you want chickens with that new home?

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The new trend is farming at home….corn, chickens, and deed restrictions.  Oh my.  Loved this article on “The Rise of the Backyard Farm” by Meg White for Realtor Magazine.  She covered so much in this article I’m not sure what I could add.

Highlights:Co

  1. Is that chicken coop coming with the house?
  2. The deed restricts livestock and poultry…but the town’s zoning allows for it.
  3. If I remove my lawn to plant food will that devalue my property?
  4. Are the solar panels included, or are they leased?

Well maybe it brings up more questions than answers.  Stay tuned.

Just my thoughts. -Jenn

Top 5 Items to Consider When Doing a Rehab Loan.

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What is a 203K or Rehab loan?

Lenders offer different loan products that allow a buyer to purchase a home needing renovation.  Typically these properties cannot go the route of a conventional, or FHA mortgages, due to lender guidelines.  This type of loan allows you to add the repair costs into the mortgage.

Items to Consider:

Buying a home to renovate.

Buying a home to renovate.

1. All the work needs to be done by a licensed contractor. The contractor typically needs to be approved by the lender..so make sure your contractor will quickly fill out paperwork.
2. You must get the estimates done before the loan is submitted…this can be a huge delay in the process if you are not quick and on top of the estimates.
3. Your lender pays the contractors during different stages of the remodeling, and with each draw the lender sends somebody to verify the work was completed.
4. You will have 2 closings…one to purchase the house and then the final closing once the work is completed (similar to new construction).
5. The costs associated with this type of loan will be higher…you have 2 closings, more appraisal work, additional inspector visits, and a higher interest rate.

There are different types of rehab loans, they can be based off of the cost of the project, or the type of project (structural vs cosmetic for example) to name a couple.  Make sure you pick a lender who has experience, the more complicated something becomes, the more you need somebody who can get it done.

Going this route can reap higher equity in the end.  A great way to get a great deal on a home because a house that needs work is often priced under what the updates cost… let’s call it entrepreneurial profit.

Coming soon: What are the benefits of doing a rehab loan when buying a house?

-Just my thoughts. -Jenn

To get updates on new blog posts LIKE my page at: Facebook.com/TopNHhomes
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FHA 203K Rehabilitation loans from the source: portal.HUD.gov
NH Housing offers a Home Flex Purchase Rehab
Contact your lender for what programs they may offer.

The Top 4 Items Buyers Need to Know for Short-sale Purchases

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The key to buying a short-sale property is understanding the process.  It can be complicated, so becoming acquainted with what they are, and how they work, can be key to a successful purchase.  Read my brief description: “What-is-a-short-sale?”

Repairs to short sales prior to closing are unlikelyl

Repairs to a short sale, prior to closing, are unlikely.

A few items a buyer needs to understand when purchasing a short sale:
1. Many of these homes have some form of neglect.
2. The seller is unlikely to make repairs…there is no incentive for them, and typically they don’t have the funds.
3. The length of time to close is longer…you need to be patient.  Their lender needs to approve the offer, which can be slow.
4. Determining the viability of selling a short-sale: besides being underwater, the lender needs a letter of hardship from the owner to approve the transaction.

Now that the real estate market is improving in New Hampshire, deals are harder to find.  Short-sales are one way to buy a home for a good price, you just need to understand the process, have a Realtor who understands the process, understands what adds value to real estate, and be patient.

-Just my thoughts. -Jenn

Happy General John Stark Day– “Live Free or Die”

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BenningtonMonument

Battle of Bennington Monument

I started watching historical shows about the American Revolutionary War.  I reason it’s because I’m from New England, not because I’m getting to be that age when one starts watching the History Channel.

The commercials for the “Sons of Liberty’ miniseries really drew me in.   I even started watching the John Adams series on HBO.  Great story, and to think it was true!

Well the 4rth Monday of April is known as General John Stark Day in New Hampshire, it falls on April 27th this year.  Since 2011 this little known state holiday has been celebrated in New Hampshire.  I only bring this up because 2 key battles referenced in the miniseries are the Battle of Bunker Hill, and the Battle of Bennington.   Key battles of the Revolutionary War, and General Stark was instrumental in both.    One of his most famous quotes, and NH’s state motto: “Live Free or Die” is a stark reminder of the conviction and determination that our forefathers bore to bring forth a republic.MonumentWithAViewcrop2

JennPictureTaking

I just gotta get that shot!

I have yet to visit the Bunker Hill Monument, interestingly enough my birth name is Bunker(one day I’ll figure out if there’s a relationship).  The Battle of Bennington Monument was an accidental find.  On one of my mother/daughter weekends I did my usual, “let’s see what’s down this road.”  I go off the planned route and go back roads a lot and only Mom tolerates it.  She loves it when I stop on a dime to jump out and take a picture.

-Just my thoughts.
Jenn

Discount LED Lighting

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I bet you didn’t know that New Hampshire residents get discounts on energy efficient lighting!  Light up your world!April is Earth Day month. I celebrate the whole month, not just April 22, and I’m going to tell you one of the best ways to save energy and reduce your electric bill.  BUY LED lightbulbs….I know they’re not cheap.  So I want to let you know about NHsaves.com.

 

“The mission of NHSaves is to advance the efficient use of energy, while caring for the environment and promoting economic development in New Hampshire.”

There’s a lot of information on the site, but I want to direct you to the lighting catalog: http://www.energyfederation.org/nhsaves/default.php.  New Hampshire residents can get discounted lighting.  You are only allowed to purchase 20 discounted products a year, but it’s a great way to start.

Light your world with LED

Lit with LED

 

If you would rather go to a brick and mortar, try a Batteries Plus store.  They have locations in Nashua, Manchester, and Salem: www.batteriesplus.com. When I checked out the Nashua one they let me buy bulbs that offered a rebate, AND they automatically discounted the rebate after I filled out the form for them to submit.  Very convenient!

Not only that…they recycle batteries too.

-Just my thoughts.
Jenn

Popular Green Home Features by Generation

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This is from National Association of Realtors(c) graphic on popular energy efficient home features, with recent home buyers and segregated by generation.

Going Green

Home Buyers top choices for energy efficient homes. Click for larger view.

Number 1 overall is heating and cooling costs, which shouldn’t be a surprise.  One of a homeowners top monthly expenses, and it’s only getting higher.

-Just my thoughts. Jenn

What’s an arms length transaction in real estate?

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New Hampshire Homes

An arm’s length transaction is important in determining the market value of real estate. Appraisers know this term as it’s what helps determine if a comparable sale is truly comparable. So what’s an arms-length transaction?

The key concepts: the property must be on the open market for a reasonable amount of time, neither the buyer nor seller can be acting under duress, they must have reasonable knowledge of the property, be acting on their own self-interests, and from equal bargaining positions.

ArmsLength

Here are the top 3 NON arms-length transactions:

  1. Bank owned property
  2. Family sale
  3. Most short-sales

THE BIG QUESTION: Why is this important in selling your house or buying a new house? If a sale is not an arms-lengths transaction it will not be used to determine the value of that property because it would not be market value.

Market value is the highest price a buyer would pay and seller would accept for an item in an open and competitive market.

-Just my thoughts. -Jenn

Townie Tuesday Milford NH Town Hall

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What can I say, I love Milford NH! I only lived there for 10 years but it’s a town that is forever in my heart.  Tons of open space, community events, parks, trails, and filled with friendly people. Heck, Centennial Park has engraved paver bricks with both my boys names on them.  So today’s townie Tuesday pic is of Milford’s town hall…the keystone of a wonderful town center known as the “Milford Oval”.

The Milford Town Hall - A Sentinel Watching Over The Oval

The Milford Town Hall – A Sentinel Watching Over The Oval

The town history is very significant to the area, and to the country.  An interesting piece of on the oval…have you heard about the year Milford “walked”?  Literally, many of the buildings around the oval where moved.  The Milford Do-It Commitee tells the history of  some of the top historical places in town: www.qrtoursmilfordnh.org/town-hall-milford-nh/

So many of my favorite places are in Milford…Monson Village, the Mile Slip, Centennial Park, the Souhegan river, the swinging bridge, and Emerson Park (one of my favorites when the music is playing).  Maybe I need to write more pieces about the special places in Milford.  Another time….
-Just my thoughts, Jenn

Todays Nashua Market Trend Update

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Market Trend update for February 2015

Current Nashua NH Real Estate Market Report February 2015

The Nashua NH real estate marketed report February 2015 indicates a 12 month trend from January 2014 of average sales prices increasing and declining inventory. Declining inventory is typical over the winter months.

Nashua NH Average Sales Prices

The current trend is upward and indicates the average sales price of $232,000 with days on market of 87 for January. In February of 2014 the average sales price was $207,000 with 97 days on market.  Can you imagine if we did not have all this snow on the ground?

Nashua NH New Property Listings

The trend for properties on the market is slightly higher than last February with 75 listings, January this year has 87 listings.  The spring market listings have been delayed due to the severe winter snow storms. March and April we typically see the largest influx of new listings.

Nashua NH Real Estate Market Report

Nashua NH Real Estate Market Report