Four-bedroom, 2.5 baths, backing up to open space in Jasper Valley. Tons of wood floors! Step-down family room with beamed ceiling and beautiful brick fireplace with built-ins. Tons of crown molding (even bedrooms), new quartz counters in kitchen.
Serene wooded backdrop in rear with pergola covered in Wisteria over deck and large brick patio overlooking granite boulders and wooded open space.
This home has character, just needs your imagination and elbow grease to make a masterpiece.
What’s going on in Hudson? The spring market hit well over a month ago (the spring real estate market starts in February or March) and looking at the graph below you can see the increase in listings going under contract.
Hudson New Hampshire Market Trends
Once a property goes under contract it will typically close in 60 days, so the increase in contracts will make the next couple months show a large increase in sales. Just look at January and Febuary of last year.
The active listings show 4 months of inventory….a stable market typically has 3-6 months active inventory.
There’s a wonderful new web tool called “Down Payment Resource” that is integrated into New Hampshire’s MLS system. It helps determine if a buyer is eligible, and if a property is eligible, to use government-funded programs for down payment assistance, affordable fixed-rate mortgages, mortgage credit certificates, and rehab loans.
This tool was voted most Innovative New Techonology in 2011 by Inman News. Click on the image and it will direct you to the site.
Every market has submarkets, so when you watch the news about double digit declines- it’s all the markets combined. A cookie-cutter subdivision with a price point of $350,000 and up may show a larger decline than an entry-level subdivision. A contemporary home on a lake may show no decline. Bank-owned properties would most likely show the largest decline. All this within the same timeframe/market. They are examples of submarkets…move-up (mid level), entry level, standard cookie cutter, vacation, lake front, bank-owned, or unique style properties. So depending on what submarkets posted the most sales it would skew the overall market data. Knowing this you can now postulate that these huge declines are due, in part, from most sales being bank-owned or entry-level in the past 6 months so it is a false representation of the market.
Something I noticed in the recent real estate debacle was that more “desirable” areas fared better overall. They were the last to start declining and they were the first market areas to stabilize. This may not be news to everybody but I thought it was rather interesting to point out.
My PalmPre Hot Spot saves the day! I went to a listing appointment in Mason, NH wanting to show my client some comparable listings she may be interested in. My client only has a dial-up connection. Being a tech goddess I took my laptop, my 19″ flat-screen monitor, and my PalmPre Plus cell phone. Mind you, deciding to bring all these things was a last minute thing, but easy enough to pack.
My mobile hotspot on the Pre is one of the BEST tools I have. I logged onto the hotspot and wa-la…WI-FI hotspot, for up to 5 computers, at my clients home. She enjoyed looking at all the listings….and on a large screen. Just imagine the possibilities with your own wi-fi hotspot and a laptop.
My initial purchase of the Palm Pre Plus was to use on my new iPad that should arrive April 3rd. Check out my blog on my decision to purchase the iPad at: AppraiserJenns Blog
I will be using these tools for both my work as a Realtor and Appraiser.
This is great news for investors! FHA is temporarily removing the restriction for investors. FHA didn’t allow a new buyer to purchase a home that has been owned less than 3 months by the seller (typically an investor-aka flipper). The regulation was for curtailing flipping the property.
This change is a smart move for FHA/HUD because many of the homes being purchased by investors are in pretty poor condition and a typical buyer wouldn’t want to, or just couldn’t, purchase the home. This allows investors to purchase the property, do the necessary improvements, which will usually help the new buyer get a conventional loan on the property. Many, and I do mean many of these foreclosed properties don’t quality for conventional lending because they are, well, basically a mess!
Doing a quick search for “Flippers” brought up some very negative comments. They are often looked at as the bad guy, and that is just inaccurate. There is good and bad in every aspect of life, profession, business…you get the point. Flippers are ultimately just investors. Just like any other opportunity they are looking for a profit…is that bad? They are assuming the risk. A property might look like it just needs a couple cans of paint and new baths, but underneath all that could be a dragon rearing it’s ugly head. The investor will do their due-diligence, but things are often missed, and herein lies the risk.
Moving foreclosures off the market is great. In this market investors will typically price these properties low for a quicker sale and this helps your first-time home-buyer get a house that’s fixed up and a pretty good deal. Southern New Hampshire has seen it’s fair share of foreclosures, but it has not been the dominant market. Arms-length transactions have been the norm.