I just updated my webpage at www.TopNHhomes.com with the current list of NH property tax rates: http://topnhhomes.com/nh-tax-rates
Why your assessed value is not usually your market vale and what is an equalization ratio explained.
Please take a look.
Jenn
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Seeing as the median duration in a residence is only 5.2 years* most of us have moved multiple times since birth. So people aren’t tied to one location in today’s mobile society and many are missing that connection to a town.
I would always respond that I was born in Lowell, MA but moved a couple times before Nashua…which is where I grew up. I have a connection to both, but my hometown is Nashua.
So I ask the question in my next post: What is home?
Just my thoughts. -Jenn Cote
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The Mill-yard Smoke Stack – the green at the bottom of this picture is all the crumbled bricks from one of the buildings being razed.
It’s finally happening. I grew up in Nashua and have always loved the downtown area. Back in high school (when there was 1), I would take the city bus to the downtown station and walk up Main Street to my part-time job at an eye doctors office on Concord Street. My stops included the soda counter at Woolworth’s, Espresso Pizza, Alex’s Shoe store (when it was located on East Pearl), and lots of window shopping.
This is the first post on the Nashua mills. I’ve been taking photos of the mills for a number of years and this will be my outlet for those photos.
-Just my thoughts. -Jenn
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As both a real estate agent and an appraiser, I look at the entire neighborhood, not just what’s next door. I can remember a property in Merrimack I was working on at the end of a cul-de-sac. Nice quiet neighborhood, but through my research you could see the subdivision ends with a couple large lots, one of which is zoned for commercial uses. It was just under 100 acres with frontage on a main route.
Here’s the GIS map with the zoning overlay of the area now. The R is residential, the C-2 is commercial area that was in place, but the large commercial building was built after.
Sure enough a few years later a large “box” store opened and you could definitely hear, and “see”, the noise through the neighbors yard. Can you imagine buying your new home on this quiet cul-de-sac, and then a few years later having this happen?
Cul-de-sac in Merrimack, NH
So here are a few ways you can find out for yourself (if I’m not your agent):
My point is to look at the surrounding land, the uses. I can hear my clients say: “but Jenn, we don’t mind that…”
It could be the property is one street over from a major highway, a property with only 2-bedrooms, or industrial zoned land next door, they may not perceive it as a negative.
What is the difference between a Superfund site and a Brownfield? Check out an earlier post: http://jennifercote.info/superfund-or-brownfield/
Just my thoughts. –Jennifer Cote- Everything Real Estate
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This is a continuation on my post titled: “Trailer, Manufactured, or Modular?”
One more point on the differences between a manufactured or modular home is the types of loans you can get. When trying to mortgage a modular home you would be looking at typical mortgage products because the dwellings are built to local codes and comparable to a stick-built (wood framed) property. Overall it’s fairly typical.
Financing a manufactured home is different. Not every lender will finance a manufactured home, and the rates can sometimes be higher. One of the reasons for this is that manufactured homes tend to depreciate in value, and have shorter life-spans than a traditional property, causing more risk to the lender.
If it was “manufactured” prior to the HUD code established 1976 it is considers a mobile home and not eligible for government backed financing, FHA, etc. Most of these end up being cash sales due to the lack of financing available.
Depending on how “mobile” the home is will determine if it’s “personal” property or “real” property. If it’s on wheels, not permanently attached to footings, you would most likely need to get a personal loan, not a mortgage.
Manufactured?
The manufactured home market is changing. There is now a larger demand for smaller homes and a new movement coined “The Tiny House Movement” is in full swing making manufactured homes cool. http://www.thetinylife.com/what-is-the-tiny-house-movement/
For more information you should talk to your lender. I am only a real estate agent and appraiser, not a mortgage professional.
Just my thoughts. ~Jenn
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Well, a trailer or mobile home, is now referred to as a manufactured home. A modular, on the other hand, is a regular house. Really, that’s it!
Ok, maybe there’s a little more than that:
Is this a modular or stick built on site? Usually you cannot tell the difference.
An on-site stick built home with wood-frame construction.
A modular is typically of wood frame construction, built off-site, and in a factory setting. It is built to local codes and would offer the same marketability as a standard site built home. There are varying degrees of quality from an entry-level basic structure to a real high-end upgraded structure.
A manufactured home is also built in a factory. They are typically built on a metal frame with axles that are used to transport the sections. They are built to HUD (U.S. Department of Housing and Urban Development) standards…a separate national code for construction. The tolerances may be different than local code depending on the area: sometimes more strict, sometimes less. In 1976 HUD standards where developed and the term “manufactured” was coined to describe these dwellings. I suppose it sounds better to say I live in a manufactured home rather than a trailer.
These are very basic definitions, but hopefully it helps you understand that the only difference between regular house construction and modular construction is one is built on-site and the other in a factory setting under a controlled environment. From an real estate value standpoint they would be comparable. Whereas a manufactured (trailer) may also be built in a factory, but it is not built to the same standards and therefore not comparable.
Here is part 2 on financing differences between Manufactured and Modular homes: http://jennifercote.info/financing-manufactured-or-modular-houses/
Just my thoughts. ~Jenn
Here is a BBC article, I thought interesting about manufactured statistics in the US: http://www.bbc.co.uk/news/magazine-24135022
www.TopNHhomes.com www.JACoteAppraisals.com
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One of the key elements to selling a house as a short sale will be proving a hardship. See my post on hardships.
Need Help?
When I list a short-sale I provide my clients with some choices for a short-sale negotiator, this is the person who will be working with your lender. The sellers lender will typically pay the costs to sell the house, from the real estate fees to the negotiator fees. There still may be some associated fees which the negotiator may be able to explain and will often depend on the lender.
Buying or selling, every case is different and there are no guarantees, but working with a professional who has experience in short-sales is the key. The process is longer, more complicated, and the factors for listing can be different than a traditional sale. I go over all this with my clients.
If you have any questions, or need help, please contact me.
-Just my thoughts. -Jenn Cote
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