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Nashua Detached Condo with 2-Car Garage For Sale
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$175,000 for this 3-bedroom detached condo. Backs up to common area, large rooms, even a 2-car garage! Condo fees include exterior maintenance, siding, roof, even plowing the driveway! Great property for investor. This is a short-sale, being sold as-is.
Click for Craigslist Flyer with more Pictures
Additional Posts:
Top 5 Things to Consider when Doing a Rehab Loan
The Short Sale Chronicles with Jenn
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New Hampshire’s Real Estate Cycle- Up Markets
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TOP TOWNS LAST IN...FIRST OUT
During the decline of the last real estate cycle I wrote a post about how different towns function in the cycle. I.E. top towns are the big indicators when the market will start to stabilize after a decline: Top Towns in a Declining Market
Right now we are in a completely different market, but the point remains the same. Top towns LEAD the UP-cycle, they are a good indicator when prices start to rise. So it’s “First Out” of a declining real estate market. There are still New Hampshire towns struggling, but most are stable, if not slightly increasing.
Just my thoughts. -Jenn
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What’s an arms length transaction in real estate?
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.
Here are the top 3 NON arms-length transactions:
- Bank owned property
- Family sale
- 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
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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
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Do you prefer a walkable mixed-use or big lot suburban community?
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The 2013 community preferences survey from the National Association of Realtors is an analysis on the types of communities people prefer to live in. On one hand compact, walkable communities continue to have leaps in demand, but detached houses with large yards and lots of privacy are still tops. You can read all about it in this 51 page slide show: http://www.realtor.org/sites/default/files/reports/2013/2013-community-preference-analysis-slides.pdf
One of the things I was surprised to see is the breakdown between a walkable, mixed-use community and a conventional suburban one to be very balanced.
Anyway, you should check out the slideshow…good stuff.
-Just my thoughts.
From Everything Real Estate with Jenn, post Do you prefer a walkable mixed-use or big lot suburban community?
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The End of the Hometown
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When asked where’s your hometown, how do you respond: the one you were born in, or the one you grew up in?
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?
It’s just something I’ve been thinking about, the loss of the hometown.
Just my thoughts. -Jenn Cote
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What’s that vacant lot next door to my home?
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):
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Google maps is the easiest first step. Zoom in, do the street view (little yellow man icon) and look around. Of course Google Earth is stunning, A 3D globe.
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My favorite is using a GIS viewer you can usually find on a towns website. Do a search for GIS and the name of the town/municipal location. GIS stands for Geographic Information Systems and it is an overlay mapping system combing lots, zoning, wetlands, and all sorts of information. For more information about GIS mapping here’s my previous post on GIS maps in New Hampshire communities.
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Online deeds and/or plans. Here in New Hampshire we have www.NHdeeds.com and you can look up your deed in most counties. From the deed you can get the subdivision plan # in many cases. Enter the plan # and you get the subdivision plans. Really great information!
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.
- Key Point:
- Do the majority of home buyers see it that way? I help my clients become informed, for the future marketability of the property.
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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Short Sale Hardships in NH
If you think your home is underwater one of the first questions that may come to your mind: “Is my house eligible for a short-sale?” One of the most important components in determining if you are eligible for a short sale is the hardship letter.
Hardship is defined as an adversity. Something, difficult or unpleasant, that you must endure or overcome. www.yourdictionary.com
If you’ve already done some research you may have heard of the typical hardships like job loss, divorce, or illness, but sometimes other types of hardships can be approved. You also need to show a financial hardship…you need to be in a position that you cannot pay the deficiency. Every situation is different, every bank is different, and every transaction is different. So there are no guarantees, but the letter of hardship is extremely vital to the success of a short-sale.
One example of a not-so-typical hardship:
I was helping a couple who lived an hour from their kids school (divorce situation-the kids remained in the same school system). The bank approved this short-sale.
Next, we need to determine the current market value of the property. You need to sit down with a real estate agent who is familiar and EXPERIENCED in short-sales. There are obstacles that need to be explained to you, so you can be prepared.
Reconcile
Once we determine your property is indeed underwater. I work with experienced short sale attorneys and negotiators, and this program is of no cost to you.
Call me today to talk; I will answer all of your questions.
I will help you sell your home so you can have fresh start.
An excellent explanation of short-sales can be found on Realtor.com: http://www.realtor.com/blogs/2011/08/15/demystifying-the-short-sale-process/
If you’d like to know when I post another article on this topic “like” my Facebook page: http://www.facebook.com/TopNHhomes
Just my thoughts. -Jenn
NOTICE: I am not associated with the government or a lender. Keep in mind your lender may not agree to a short-sale. If you stop paying your mortgage, you could lose your home and damage your credit rating. Short-sales in Nashua, Hudson, Merrimack, Amherst, Pelham, and Windham.
-Just my thoughts. -Jenn
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Great Ranch for sale in Nashua!
Adorable 3-bedroom Ranch with walk-out basement waiting for you to finish. Newer siding, windows, roof, deck, sliders, updated bath, driveway, and new kitchen counters coming this week. Lots of wood floors! Fantastic neighborhood. Retaining wall added to support addition, or garage, off kitchen. Great curb appeal and wooded backyard view. 56 Raleigh Drive in Nashua. Bicentennial School district.
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