Tag Archives: real estate in nh

190 Baboosic Lake Rd in Merrimack, NH

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Slideshow Video of 190 Baboosic Lake Rd. in Merrimack NH

The Barron House c1771

190 Baboosic Lake RdPreserved antique Colonial with heavy timber framing, wide-plank pine floors and wainscoting, 5 fireplaces, period trim, Moses Eaton stencils, and perennial gardens make this a very special place!  The home has a rich history dating back to pre-revolutionary times documented in the “History of Merrimack, NH, Volume I.”

The formal living and dining rooms flank the front staircase.  The keeping room runs the length of the house, a grand fireplace with beehive oven. Heading towards the back you have the large kitchen, half bath, laundry, and then you enter the large mudroom/library to access the 2-car attached garage.

Over the barn there’s a finished living room, kitchen, bedroom, and bath with separate electrical and natural gas furnace. A two-car garage with generator hook-up, walk up attic with more wide plank flooring.  The fieldstone foundation has a concrete floor, 200 amp service, chestnut beams, and many secrets.

MLS 4477896: Click for an Interactive Listing Sheet
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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

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Financing Manufactured or Modular Houses.

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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?

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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USDA No Money Down Programs

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The government has a sponsored program that can assist households purchase a home with a low or even no down payment.  One of my favorites is the Rural Development Loan program.

SOME KEY POINTS:

  • Property must be in a USDA designated rural location.
  • 100% mortgage LTV which is based on the APPRAISED value
  • Zero down payment and low interest rates.
  • No limit on seller concessions or gift.
  • 30 year fixed rate
  • USDA approved lenders only.

Rural Development Loans are available in these New Hampshire communities: Atkinson, Hampstead, Amherst, Windham, Pelham, Bedford, Brookline, Hollis, Litchfield, Lyndeborough, Mason, Mont Vernon, New Boston, and Wilton.  For a full list of New Hampshire towns, and income requirements, read the FACT SHEET.

The ineligible area list for NH is far smaller: Concord, Derry, Hudson, Keene, Nashua, Londonderry, Manchester, Merrimack, Portsmouth, Rochester, Salem,parts of Goffstown and Hooksett.

Not all lenders can do Rural Development loans.  Contact me for more information.

More information:

Federal Site: http://www.rurdev.usda.gov/rhs/

Local NH/VT office: http://www.rurdev.usda.gov/vt/

State by State: http://www.topnhhomes.com/FinanceAgencies

 

-Just my thoughts.

Jenn

www.TopNHhomes.com www.JACoteAppraisals.com

*Information is from the rural development government websites listed above.  I am not a mortgage professional.  This is for informational purposes only and you should do your own due-diligence.  This is a government funded program that needs to be funded yearly.

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