Blog :: 11-2009

December Just Might be the Best Time to Buy a Home in Windham and Southern NH!

iStock_000001092430SmallI know what you're thinking, with all the holiday activities, colder weather and just so many other things on your mind, December is the worst time for you to buy a home. The fact is, December offers a gift to home-buyers in search of a great value. First of all, people who have their homes on the market this time of year want to sell them. Many have made significant price reductions and many homes are being offered at the lowest prices of the year. Yes it is nicer to be able to move in the warm weather but if you make that choice, you will be competing with all of the buyers like yourself, who have waited for Spring. In the southern New Hampshire market, there is a general drift upwards of asking and selling prices as the Spring market begins to bloom. Sellers feel that they have the luxury of many months of good weather ahead of them and there are many more buyers in the market competing for property. This was especially true over the past year. It's impossible to predict what next year will bring but the home-buyer tax credit may impact the market and prices. Buyers may be out in force next spring as they rush to lock in deals before the deadline of April 30th. And who knows where interest rates will be come next Spring? If you buy now there will be less competition and you will have exactly the home you want, have your tax credit locked, and have a low interest rate as well.

Check out some of the holiday home values that are being offered right now. Click on picture for full details.

Windham: Initial List: $499,9000 Current Price: $459,900 Town Assessment: $558,500

Windham: Initial List: $499,9000 Current Price: $459,900

Windham: Initial List: $443,000 Current Price: $429,900 Town Assessment: $517,100

Windham: Initial List: $499,9000 Current Price: $459,900

Windham: Initial List: $479,900 Current Price: $429,900 Town Assessment: $467,600

Windham: Initial List: $499,9000 Current Price: $459,900

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2009 was a busy year for real estate on Cobbetts Pond !

28 Horseshoe

Sold New Hampshire Waterfront: 28 Horseshoe Road, Windham, on Cobbett's Pond

The selling season on Cobbett's Pond in Windham was one of the best in recent memory. The fact that this beautiful lake is within easy reach of I-93 and Boston has made Cobbetts a very desirable waterfront address.

Many waterfront homes changed  hands, including Prudential Dinsmore Associates, REALTOR'S listings at 28 Horseshoe Road and 16 North Shore Road. Both of these homes sold in a very short period of time indicating excellent demand exists for waterfront property on the lake. 28 Horseshoe Road was listed by Debbie St Jean and sold by Eliane Unsworth both with Prudential Dinsmore Associates.

28 Horseshoe Road closed for $1,250,000 and 16 North Shore Road closed for $815,0000.

Kristie Dinsmore of Prudential Dinsmore Associates also represented the buyers in the purchase of a single family detached condominium at Heron Cove which sold for $540,000.  Debbie St. Jean at Prudential Dinsmore Associates also worked with the buyers of 9 Grove Street which was a bank owned waterfront cottage which sold in March for $265,000.

There were also several private sales on the lake. 28 Ash Street was a waterfront contemporary which sold for $745,000 and 21 Rocky Ridge Road sold for $457,500 according to public records. 17 Armstrong Road, a year round waterfront cottage,  also sold privately for $280,000 according to public records. Currently (11/4/2009) there are two more homes pending on the lake.

The inventory in Windham on Cobbett's Pond is still dynamic and varied. These two listings, Cobbett's Pond waterfront and water access, give you an idea of the variety still avialable:

MLS# 2777196 - Windham 2-Bedroom - Cobbett's Pond Water Access

Sold New Hampshire Waterfront: 28 Horseshoe Road, Windham, on Cobbett's Pond

This charming, reasonably priced Windham home has 2 bedrooms, a Boat Mooring, a wood fireplace, and 50' of private water access for under $350K.

Windham NH Real Estate - Cobbetts' Pond Waterfront

Sold New Hampshire Waterfront: 28 Horseshoe Road, Windham, on Cobbett's Pond

"Waterfront elegance with 114 feet of lake frontage on Cobbetts Pond"

This spectacular property has 4 bedrooms, 3 bathrooms, custom kitchen,  and the "Luxurious master bedroom suite features spa bath with lake views" for less than $1M.

Buyer Tax Credit Cheers Southern New Hampshire Buyers, Sellers & REALTORS

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The extension and expansion of the home-buyer tax credit is good news for buyers, sellers and REALTORS in southern New Hampshire. The federal government hopes that the extension will have a positive effect on the real estate market. The first time tax credit had a big impact on the lower end of the market in southern New Hampshire towns like Derry, Salem and Londonderry. The expansion of the credit to move up buyers means that the upper end of the market should benefit, especially in a town like Windham NH with higher priced homes.  At one point in October there was only two home available for sale in the $200,000 to $275,000 range in Windham. The inventory was depleted as a result of first-time buyers rushing to put homes under agreement before the November 30th deadline. Now all buyers have a chance to benefit from the program. This should help with the inventory of higher priced homes in town. Here are the details:

The time limit for the program has been extended. You must have a home placed under agreement before April 30, 2010. The closing on the property must take place before June 30, 2010. First time buyers will still qualify for up to $8,000. Income limits have been raised so that single buyers can earn up to $125,000 and still get the full credit while a married couple can earn $225,000. A FIRST TIME BUYER MAY NOT BE WHAT YOU THINK! Under the program, you are a first time buyer if you have not owned a home during the last three years.

Now, buyers that want to trade up can also qualify. Those who have owned and occupied a residence for the at least five of the past eight years can claim a $6,5000 tax credit if they close on a purchase before the end of June.  Also, this program does not require you to pay the money back to the government as earlier versions did. Prudential Dinsmore Associates, REALTORS are not accountants or tax advisors and if you plan to participate in the program we urge you to consult with a tax planning professional before you purchase a home. Here is the IRS link to the program information.

If you want to explore your options, why not contact Prudential Dinsmore Associates, REALTORS today.