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

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

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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

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Townie Tuesday Picture for Pelham NH

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Here’s another Townie Tuesday picture, featuring the Pelham First Congregational Church during Old Home Day in 2013.  Every Tuesday I post a New Hampshire photo on my Facebook Page.OldHomeDay1stCongregationalChurch2013

 

Every year since 1906 the First Congregational Church organizes and sponsors the Old Home Day.  This is a fantastic community event starting in the morning with the 5k Race and Walk and ending with a community supper in the evening.  The day is filled with activities, raffles, parade, the White Elephant Table, food, kids games, and much more.

Read more: http://www.pelhamoldhomeday.org/about.html

Just my thoughts. -Jenn

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Subdivisions, Builders, and Appraisers.

Subdivisions, builders, and appraisers. I’m putting out a plea…builders please befriend an appraiser! Seriously, find a knowledgeable local appraiser and set up a relationship.

Of course Realtors are an excellent resource as well, but you would need to find one that is experienced in subdivisions, one willing to figure out what options in new construction would bring the biggest return or help with shorter marketing times.

Subdivision Plan

Subdivision Plan

Check out another of my posts on new construction:

www.jennifercote.info/development-projects-gone-bad/

Every town, sub-market (entry-level, green, luxury, etc.), and style property will have different factors that affect value. Appraisers do this all the time, and they typically cover a wider geographic area than a Realtor.

The reason for my plea is I’m working on an appraisal in a new subdivision and I wonder why this subdivision is even here? This little town is still plagued by foreclosures, geographically ill-placed on the southern border of NH with only one main road in, and low-end inventory. I should first say the surrounding towns are beautiful quintessential New England communities that are far more desirable, in which market conditions have been fairly average over the past year and with good road access. The market for the past 12-18 months (in most areas of southern New Hampshire) has been for entry-level properties that are either in great condition or of investor interest.

I’m sure the land was cheap for the builder and construction started well over a year ago, but the conditions even then were not so hot. The house is over sized for this town at 2,200SF with 4-bedrooms and 2.5 baths and has been on the market for over a year. Your typical home in this town is about 1,500SF and the median price over the past year was $160,000.

A good thing is the builder has only built 3 homes in this 12 lot subdivision so changes can be made…I wonder if the Realtor will help guide the builder into constructing smaller houses until the market improves. Anyway, the house is selling for far less than it should at $207,000 because it’s over built, and currently there is little interest for real estate in this town.

So I make this plea…get acquainted with a local appraiser. I’m sure appraisers could learn quite a bit from you too!

Just my thoughts. -Jenn

www.TopNHhomes.com
www.JACoteAppraisals.com

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Foreclosures

Wow!

The wave of foreclosures has everybody talking.  Right now there are so many foreclosures out there that it’s creating an oversupply of homes for sale.   There are times I’m doing an appraisal and the only comparable sales I have are foreclosures and these are not what I would use for a typical refinance or purchase.  Why, you say?

The problem is that typically homes that have been foreclosed on have issues with deferred maintence, interior elements have been removed such as lighting fixtures and even sinks, they are typically filthy, and many times the house becomes stigmatized to some extent.  Some would call it bad energy or just bad Fung Shui (http://www.redlotusletter.com/) that comes from a foreclosed property.  People like homes that had a owner who raised a nice family there…a feel good home.

The quantity of foreclosures is creating a downward pressure on prices.  We appear to be at the bottom of this “Foreclosure Tsunami” and in the next few months there will most likely be a leveling off.   Once this happens the market will start to stabilize and hopefully people will stop being afraid to put their feet back in the real estate market.

Just something to think about.

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