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Windham NH: top in class condominium

OK, we've been selling real estate in Windham for a long time, and this might just be the most exquisite condominium to come on to the market in recent years. Check it our for yourself. You'll be amazed at the inspired design, quality amenities and finishes. For more information contact the listing agent Kristie Dinsmore at 603-548-7230 or call the office at 603-898-9038.

Come home and enjoy this stunning, reimagined townhouse in desirable Wynridge. Every room features luxurious upgrades and designer touches. Greet friends and family in a real entrance hall with gleaming Brazilian wood floors, handsome pilasters and moldings, plus the convenience of a privately located powder room. The open floorplan allows light and conversations to flow throughout the first floor. The great-room is a smart and sophisticated environment, where you can kick back and relax or entertain with a formal flair. Features include Brazilian cherry floors, crown moldings, and Shaker style cherry cabinets with warm, backlit uppers with "Flemish" glass. A gorgeous slab travertine "crema marfil" marble fireplace is the focal point of the room. The warm, rich palate of the incredible kitchen is achieved with the cinnamon finished, cherry cabinets with lighted glass upper accents, matte industrial granite counters in Laurentian green antique finish, light maple hardwoods and African stainless steel back splash. Kitchen is very open to the great-room and also offers a breakfast counter and a wonderful computer-planning desk plus "Elite" Kenmore stainless steel appliances. The master bedroom suite offers cathedral ceilings, walk-in closet. The whirlpool bath features "Botticelli" tile, custom cabinetry with granite counter tops and brushed nickel accessories and lighting. The second bedroom features ensuite bath, with granite counter vanity and tile shower with frameless glass enclosure. The lower lever offers a spacious walk-out family room with an abundance of glass to let the light shine in. There is also a bonus room that can be used for many purposes. All this plus the convenience of an attached garage. Please see the Seller provided upgrade and amenity list for the full details on the one townhouse in Windham that truly stands apart. Are you ready for a private viewing? KRISTIE DINSMORE | 603-548-7230

Almost time for Skating at Wilson Pond in Windham NH

Wilson Pond - Windham NH
Wilson Pond - Windham NH

The Hopkins Model - $579,900
The Hopkins Model - $579,900

The temperatures are starting to fall below freezing, and so it will soon be time for skating on Wilson Pond in Windham, New Hampshire. At Spruce Pond Estates, there are several custom homes now  up, on the Northland Road cul-de-sac, on lots directly overlooking this scenic pond. There is also open space access for the other lots on the cul-de-sac. This is a small New England pond with lots of wildlife and changing scenery throughout the year. Why not find out more about what's new at Spruce Pond Estates today.

A custom home under construction on the Northland Road cul-de-sac at Spruce Pond Estates
A custom home under construction on the Northland Road cul-de-sac at Spruce Pond Estates.

-Lots of construction on the Northland Road cul-de-sac, Windham NH

Lots of construction on the Northland Road cul-de-sac, Windham NH

Sellers and Buyers Should not Rely on Online Home Value Estimates.

Why You Should Not Rely on Online Pricing Estimates

One of the favorite features of the online real estate portals is the estimate of value feature.

If you happen to look at the details, you will see that the online portals admit the lack of accuracy of their estimates. Unfortunately, few home-buyers or home-sellers drill down to the disclaimers about accuracy.

Zillow says the following:

"The Zestimate® home valuation is Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. The Zestimate is calculated from public and user submitted data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as:

  • Getting a comparative market analysis (CMA) from a real estate agent
  • Getting an appraisal from a professional appraiser
  • Visiting the house (whenever possible)"

"Within 5% of Sale Price: This is the percentage of transactions in a location for which the Zestimate was within 5% of the transaction price. Nationwide, Zestimates are currently within 5% of the final sale price 38.4% of the time."

"Within 10% of Sale Price: This is the percentage of transactions in a location for which the Zestimate was within 10% of the transaction price. In the U.S. as a whole, Zestimates are currently within 10% of the final sale price 63.6% of the time."

This means that 36.4% of the value estimated are off by 10% and and 16.9% are off by more than 20%.

"Within 20% of Sale Price: This is the percentage of transactions in a location for which the Zestimate was within 20% of the transaction price. Nationally, Zestimates are currently within 20% of the final sale price 83.1% of the time."

This means that 36.4% of the value estimated are off by 10% and and 16.9% are off by more than 20%. While this disclosure is nice, and appropriate, many people never look beyond the listing page information where the Zestimate® is shown.

Here are over 30% of the sale with their Zestimates® for homes sold in Windham between 6/30/14 and 07/31/14.

6 Kent St, Windham, NH 03087

4 beds, 4 baths, 2,292 sqft

Sold: $374,500

Sold on 06/30/14

Zestimate®: $347,957

Potential Loss to Seller: $26,543

13 Sharon Rd, Windham, NH 03087

4 beds, 3 baths, 2,788 sqft

Sold: $415,000

Sold on 07/07/14

Zestimate®: $364,342

Potential Loss to Seller: $50,568

5 Tully St, Windham, NH 03087

4 beds, 3 baths, 3,088 sqft

Sold: $409,00

Sold on 06/30/14

Zestimate®: $384,931

Potential Loss to Seller $21,069

3 Sagamore Rd, Windham, NH 03087

4 beds, 2 baths, 4,415 sqft

Sold: $676,533

Sold on 07/14/14

Zestimate®: $628,448

Potential Loss to Seller: $48,085

3 Granite Hill Rd, Windham, NH 03087

4 beds, 3.5 baths, 5,240 sqft

Sold: $1,050,000

Sold on 06/30/14

Zestimate®: $913,260

Potential Loss to Seller: $136,740

 

 

 

In some case the algorithm provides a price that is close to the value. However, the number of instances where it comes nowhere near close to the value is disturbing. Here are some sales that were close to the estimated value.

24 Blossom Rd, Windham, NH 03087

4 beds, 3 baths, 2,560 sqft

Sold: $410,000

Sold on 07/18/14

Zestimate®: $417,244

 

57 Bear Hill Rd, Windham, NH 03087

4 beds, 3 baths, 4,009 sqft

Sold: $630,000

Sold on 06/30/14

Zestimate®: $611,499

 

75 Heritage Hill Rd, Windham, NH 03087

4 beds, 4 baths, 4,550 sqft

Sold: $820,000

Sold on 07/03/14

Zestimate®: $818,301

 

8 Orchard Blossom Rd, Windham, NH 03087

4 beds, 3.5 baths, 3,334 sqft

Sold: $660,000

Sold on 07/02/14

Zestimate®: $646,406

Even worse, sometimes the information isn't even correct. 11 Northland sold for $580,000. If you were to rely on the sales price you could be out a whopping $133,333, or even with the Zestimate® you could be out $27,484.

11 Northland Rd, Windham, NH 03087

4 beds, 4 baths, 4,332 sqft

Sold: $446,667

Sold on 07/08/14

Zestimate®: $552,516

 

2 Mary St, Windham, NH 03087

3 beds, 2 baths, 1,938 sqft

Zillow says-Off Market

Actually sold for $298,000

Sold on 07/17/14

Zestimate®: $279,229

 

36 Glance Rd, Windham, NH 03087

4 beds, 3 baths, 4,339 sqft

Zillow says- Off Market

Actually sold for 566,000

Sold on 07/25/14

Zestimate®: $504,776

Potential Loss for Seller: $61,224

It is more than just sellers that are impacted by this faulty valuation method. Buyers also can be impacted. It can set you up for unrealistic expectations. Just imagine you are preparing an offer on a property and you rely on the online estimate to craft your offer. Another buyer offers more and you lose the house that met your needs perfectly all because you relied on erroneous information.

Fall in NH is for Home-Sellers

Fall-2Fall is a great time to sell a home in southern NH. Buyers in the market are eager to buy a home before the holidays. From experience it is also the time that many homes in the upper tier of the market go under agreement. Don't believe it? Well here are the statistics to prove that Fall is a great time for Home-sellers in Windham and southern NH.  In Windham, during 2013, 46 homes went pending from September 1st through November 30th. That was about 25% of the pending sales. From April 1st to June 30th of the same year, in what is considered the "Spring Market" 60 homes went pending which is about 32% of the homes. As you can see, home sales are very active during the Autumn season. Do you have a home to sell? Call 898-9038 or click and allow us to present the skills and strategies we will use to have your home gone before the snow flies.

Mansions and Fine Homes of Southern NH

Southern-NH-Mansions-Fine-HomesAre you in the market for a fine home, close to Boston,  in southern New Hampshire. There is no sales or income tax here.  A beautiful place that's laid back and where you can live a quiet, unpretentious lifestyle.  Check out the country estates, waterfront enclaves, oceanfront showplaces, and homes of suburban majesty.  Can't you just picture yourself sitting by the pool or sipping martinis while overlooking the Atlantic? Here are the truly one of a kind residences for sale in southern NH., with price tags beginning at $1,250,000. Check them out for yourself right now.

OK, maybe you just want to know how the 1-5% really lives? No harm in that, right.  Don't let another boring weekend back at the ranch, keep you wondering if this is all there is to life? Let yourself dream a little bit and check out how you can live large in Southern New Hampshire.

CLICK HERE TO TOUR THE HOMES NOW.

 

Windham Real Estate Buzz-- Windham Waterfront Sales

There have been several Windham NH Waterfront sales of note during the past 18 months. Prices in general are strengthening and activity has improved. Where you see "TS" after the price in the table below it represents that the sales price was calculated from the tax stamps on the sale. One of the most desirable properties that sold is 6 Horne Road on Cobbett's Pond. This property had a magnificent waterfront setting with 2.04 acres of land and 420 feet of water frontage. This Tudor style home was once owned by the Wheat family and was built as a shingle style cottage. The property transferred on January 28, 2014 for $900,000.

COBBETTS POND

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12 A Lakeshore Road .12 Acres 39' Contemporary Home 2,259 Sq.Ft. 07/-/14 Assessment $469,200 $650,000
7 Cross Street .16 acres 70' Contemporary 1,469 Sq.Ft. 07/02/14 Assessment $496,900 $565,000 TS
31 Armstrong Road .27 acres 81' Year Round Home 2,766Sq.Ft. 05/23/14 Assessment $561,100 $760,000
 6 Horne Road  2.04 acres  420'  Tudor with 2 car garage.  3,620 Sq.Ft.  01/28/14  Assessment $793,100  $900,000 TS
 11 Cross Street  .15 acres  107'  Saltbox Contemporary  1,716 Sq.Ft.  04/15/14  Assessment $488,000  $480,000 TS
 64 Turtle Rock Road  .19 acres  50'  Cape style home  2,087 Sq. Ft.  11/26/13  Assessment  $491,000  $362,533
 41 Sawtelle Road  .34 acres  70'  Cape with 2 car garage  2,377 Sq.Ft.  11/24/13  Assessment $575,700  $525,000
 35 Armstrong Road  .23 acres  75'  Colonial with 2 car garage  2,444 Sq.Ft.  06/21/13  Assessment $576,700  $759,000
 20 Ash Street  .44 acres  125'  Colonial home. No garage.  2,784 Sq.Ft.  11/01/13  Assessment $545,800  $765,000
 8 Bell Road  .15 acres  59'  Cottage. Year Round.  1,293 Sq.Ft.  04/29/13  Assessment $378,800  $359,000
 5 Grove Street  .19 acres  50'  Seasonal Cottage Post  Piers  1,195 Sq.Ft.  07/12/13  Assessment $305,200  $265,000
 13 Spring Street  .63 acres  105'  Year Round Cottage  1,568 Sq.Ft.  09/06/13  Assessment $367,500  $275,000

 

CANOBIE LAKE

scan0342

 

 

 

 

 

 

 

 31 West Shore Road  .21 acres  100'   Custom Home Built in 2009  2,594 Sq.Ft.  04/15/13  Assessment $619,500  $785,000
 110 South Shore Road  .05 acres  50'  Year Round Home No Garage.  2,048 Sq.Ft.  01/07/13  Assessment $272,500  $357,933

 

Subject to errors and omissions in transcription of data.

 

Windham Real Estate Buzz --- 2014 Market Trends

Buzz-1So far, 2014 is a year that is seeing a slow and steady increase in both sales volume and price appreciation, in the Windham NH, real estate market. Overall, both number of sales and sales prices are up slightly over 2013.  One trend that stands out is the increased number of listings on the market, which could impact the market in one of two ways. More listings could mean more sales, because there is a better selection of homes for sale, for potential buyers to chose from. It also could mean more potential competition for sellers, which could make it harder to sell a home. That does not appear to be the case. Currently, our office is seeing a large amount of traffic, as well as sales of both resale and new homes, in Windham. The new homes we offer for sale continue to see a large amount of interest, especially from relocation buyers and sales remain brisk in all categories with both homes and condominiums.

Windham Single Family Homes Sales- First Six Months of 2014

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* It should be noted that new construction is included in this report and extras often increase the sales price, much higher than the ask price, which may impact the list price to sales price ratio. Windham has a  large number of new construction listings.

Windham Condominium Sales-- First Six Months of 2014

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The Windham Condominium market results are on a wild ride, being effected by very limited inventory and the fact that many sales are new construction. Generally, apart from the numbers, our office is seeing a strong demand for condominiums and +55 units with a general increase in prices for the same.

Price Distribution

Price distribution information is very useful in determine the health of various segments of the market. It can tell you, for example, whether the high end of the market is busy, if first time buyers are struggling in the lower end of the market, as well as being an effective tool for placing a price on your home, that is in an active market segment.

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So what you find in the first six months of 2014, is that for single family homes,  the $300,000 to $400,000 range is the busiest segment of the market, with the most sales in Windham. In the upper ranges above $500,000, the busiest segment is $600,000 to $700,000 with 16 sales.

So what does all this mean? Windham NH is in a unique position with a strong market, which is driven by the desirability of the town to potential buyers. In Southern NH as a whole (Rockingham & Hillsborough counties), sales of single family sales actually declined by 2.83% in the first six months of 2014 vs. the same period in 2013.  For single family homes, the average sales prices in southern NH were up 5.59% from $279,301 to $294,918. Median Sales Prices were up 4.48% from $245,000 to $256,000. And then there is a small troubling sign in both Windham and southern New Hampshire which is the decline in pending sales which may indicate a decline in the number of future sold homes. Pending sales during the period declined 10.20% in Windham and 7.49% in southern NH as a whole. Again, this decline could signal either a lack of demand or a lack of inventory that meets the needs of what buyers are demanding.

For New Hampshire, as well as in the rest of the country, the real estate market will never fully recover, until the middle class is strengthened with well paying jobs that match inflation and until the younger generation, that has just graduated from high school and college, has an opportunity to enter the labor force with jobs that pay a living wage and allow for the purchase of a home. These two factors are the major headwinds preventing the return of a "normal" real estate market.

As a buyer, inventory has increased, meaning a better selection and mortgage interest rates are still incredibly low. Locking in a low rate on a home sale is one of the best moves anyone can make. Never assume that rates will remain where they are forever. Rates in southern NH over the last 40 years have varied from 3% to 18-21%. If you have a good job, locking in a low monthly payment secures a known, low payment into the future.

Nothing can provide the independence and pride of owning your own home. Don't be nervous about the process, we can guide you through all the steps of buying. Are you ready to sell? Low inventory makes this a great time, and late summer into early fall is a great time for selling. Why not contact us today.

These representations are based in whole or in part on data supplied by the Multiple Listing Service of the Granite State South Board of REALTORS, Inc. Neither the board or its M.L.S. guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its M.L.S. may not reflect all activity in the market. Sales between January 1, 2014-July 1, 2014.

Politico names New Hampshire as #1

nH-LightbulbIn January, Politico named the Granite state number one in the United States. Why would they choose New Hampshire?   "Politico Magazine rounded up 14 different state rankings from reputable sources like the Census Bureau, the Centers for Disease Control and Prevention, and the FBI, and on important factors such as high school graduation rates, per capita income, life expectancy and crime rate. Then we averaged out each state's 14 rankings to come up with a master list--atop which sits none other than New Hampshire. The approach isn't scientific or comprehensive (hey, neither was Mencken's), and not all states are created equal--California's economy is the world's eighth largest, for instance, and Texas's population outranks that of most countries. We also hold no grudges against the State of Mississippi, which came in last not just overall but on four of the individual lists, and certainly don't attribute its woes to "hordes of barbaric peasants," as Mencken did. But given that eight of the lowest-ranking states on our list overlap with the bottom 10 on his, maybe less has changed in the past 83 years than you'd think."

The Concord Monitor may have discovered why New Hampshire ended up on top. According to studies by the U.S. Census, the Mercatus Center, the Institute for Economics and Peace, a new Gallup poll and the Kaiser Family Foundation, here are the findings about the state of the state:

LIFE EXPECTANCY | 8TH: New Hampshire's average life expectancy is 80.3 years.

FITNESS | 17TH: The New Hampshire obesity rate is 25.1 percent.

HOME-OWNERSHIP | 7TH: The home-ownership rate in New Hampshire is 72 percent.

FREEDOM | 4TH: This is determined by issues of personal freedom, government regulation and fiscal policy.

HAPPINESS | 8TH: Considerations included exercise,  and smoking, access to health care and food, and overall life satisfaction.

SAFETY | 3RD: Determined by homicides and violent crimes, incarceration rate, number of police employees and availability of small arm.

HIGH SCHOOL GRADUATION | 5TH: New Hampshire has a graduation rate of 91.4 percent.

WEALTH | 7TH: New Hampshire is in the top 10 wealthiest based simply on per capita income.

SCIENCE AND TECHNOLOGY | 7TH:

New Hampshire - # 8 for Millionaire Households per Capitia.

iStock_000002066568Small millionaire

Every four years, the national news media shows up in New Hampshire, for the first in the nation primary. They like to paint this bucolic image of a state with snowy winter scenes, cows, and a rural population that only wears the obligatory LL Bean plaid wool jacket. While it makes for a nice story, it's and image that is far from the truth and new national statistics prove the point. In 2013, New Hampshire was ranked number 8 in the nation for the most millionaire households per capita.  The New Hampshire population has a high concentration of highly educated and very wealthy residents. New Hampshire's ranking is higher than either California or New York. New Hampshire's wealthy residents are concentrated in the suburbs of Boston and Manchester in the southern tier of the state, in the seacoast region, the lakes region and the towns located near Dartmouth College in the western part of the state.

The national breakdown of millionaire per capita is provided by Phoenix Marketing International. The first column is total households, the second column is households with more than one million in assets, the third column is the ratio of millionaires to total households.

Maryland 2,199,912 169,287 7.7%
New Jersey 3,238,448 242,647 7.49%
Connecticut 1,376,955 100,754 7.32%
Hawaii 466,705 33,520 7.18%
Alaska 269,890 18,209 6.75%
Massachusetts 2,587,868 174,225 6.73%
Virginia 3,137,169 208,187 6.64%
New Hampshire 522,867 33,867 6.48%
Delaware 349,794 21,679 6.20%
District of Columbia 284,867 17,378 6.10%

 

 

 

 

 

 

 

 

The following chart shows household income provided by the American Community Survey from 2006-2010.

Rank Community Median Household Income
1 Bedford, New Hampshire $116,299
2 Amherst, New Hampshire $115,405
3 Hollis, New Hampshire $112,885
4 Brentwood, New Hampshire $112,500
5 Hampton Falls, New Hampshire $112,417
6 Windham, New Hampshire $112,386
7 Stratham, New Hampshire $106,591
8 Newfields, New Hampshire $106,389
9 Bow, New Hampshire $101,731
10 Brookline, New Hampshire $101,722
11 Litchfield, New Hampshire $100,051
12 Chester, New Hampshire $99,970
13 Nottingham, New Hampshire $98,542
14 Mont Vernon, New Hampshire $97,545
15 Kensington, New Hampshire $96,477

 

So the next time you see the national news media, looking silly standing in the snow, with their LL Bean attire, searching for cows that don't exist, remember this is a myth that only they seek to perpetuate.