Blog :: 2012

Mission Accomplished for Home Seller in Atkinson NH

ProvidenceSUCCESS STORY: Andrea Peters, is a real estate professional, who has demonstrated by her success, that she has the skills and strategies to help her clients to meet their real estate goals. Take the beautiful home, that she just sold at 69 Providence Hill Road, in Atkinson, New Hampshire. The seller, with her guidance set a strategic price on the property, that insured that it was noticed, and acted upon by potential buyers. She went the extra mile with professional photographs, to insure that the property would have the maximum appeal when seen by buyers online. Then the listing was syndicated to all of the major real estate web-sites online. The showings began immdiately after it was listed. Within three days, the property had two offers and she had helped the seller to negotiate an acceptable contract. Andrea managed all of the details for the seller, and the home closed just 28 days later.

Andrea wants to make sure that people know that "while we are known for doing a great job selling Windham Andresproperties, those same skills and strategies work in any town throughout southern New Hampshire. This successful sale in Atkinson, New Hampshire, just confirms how we can help sellers to be successful in selling their homes."

Andrea is a full time real estate professional and would be happy to discuss your home-selling requirements. How can she be of help you?

You can reach Andrea at 603-475-8469 or peters7@comcast.net

Limited Homes for Sale in Windham NH make this a Great time to Sell!

sell in winter copySure, it's no fun shoveling the walk for the showings in January, and it would be much nicer moving in the warmth of June, rather than in the chill of March, however, the chance to sell your home for a good price, while there is little competition, while interest rates are low, and while there is unusually strong buyer demand, might just make it worth it to you. As of December 19th, there are just 97 single family homes for sale in Windham NH and just 57 of them are available resale homes.  If your preparing to sell your home in 2013, why not start the process now. One of our sales professionals would be glad to provide you with a pricing strategy and marketing report for you home.  If  you decide to sell now, you just might be moving before the spring market has even begun.

 

November existing Home Sale Rise

November Existing-Home Sales and Prices Maintain Uptrend

WASHINGTON (December 20, 2012) - Existing-home sales continued to improve in November with low inventory supply pressuring home prices, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November from a downwardly revised 4.76 million in October, and are 14.5 percent higher than the 4.40 million-unit pace in November 2011. Sales are at the highest level since November 2009 when the annual pace spiked at 5.44 million.

Lawrence Yun , NAR chief economist, said there is healthy market demand. "Momentum continues to build in the housing market from growing jobs and a bursting out of household formation," he said. "With lower rental vacancy rates and rising rents, combined with still historically favorable affordability conditions, more people are buying homes. Areas impacted by Hurricane Sandy show storm-related disruptions but overall activity in the Northeast is up, offset by gains in unaffected areas."

The national median existing-home price2 for all housing types was $180,600 in November, up 10.1 percent from November 2011. This is the ninth consecutive monthly year-over-year price gain, which last occurred from September 2005 to May 2006.

Distressed homes3 - foreclosures and short sales sold at deep discounts - accounted for 22 percent of November sales (12 percent were foreclosures and 10 percent were short sales), down from 24 percent in October and 29 percent in November 2011. Foreclosures sold for an average discount of 20 percent below market value in November, while short sales were discounted 16 percent.

"The market share of distressed property sales will fall into the teens next year based on a diminishing number of seriously delinquent mortgages," Yun said.

Total housing inventory at the end of November fell 3.8 percent to 2.03 million existing homes available for sale, which represents a 4.8-month supply 4 at the current sales pace; it was 5.3 months in October, and is the lowest housing supply since September of 2005 when it was 4.6 months.

Listed inventory is 22.5 percent below a year ago when there was a 7.1-month supply. Raw unsold inventory is now at the lowest level since December 2001 when there were 1.89 million homes on the market.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 3.35 percent in November from 3.38 percent in October; the rate was 3.99 percent in November 2011.

NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., said there's been speculation of a rise in short sales before the end of the year with pending expiration of the Mortgage Forgiveness Debt Relief Act. "However, there's been no movement in short sales, their market share is staying in a narrow range, and they're still taking much longer to sell - typically three months," he said.

"The fact remains it is extremely difficult to expedite a short sale, and banks' response to client urgency is only starting to improve. However, we're hopeful that the act will be extended before it expires on December 31 so sellers don't have to pay taxes on forgiven mortgage debt, which would be unfairly treated as income for owners who are selling under duress," Thomas said.

The median time on market for all homes was 70 days in November, slightly below 71 days in October, but is 28.6 percent below 98 days in November 2011. Thirty-two percent of homes sold in November were on the market for less than a month, while 20 percent were on the market for six months or longer; these findings are unchanged from October.

First-time buyers accounted for 30 percent of purchases in November, down from 31 percent in October and 35 percent in November 2011.

All-cash sales were at 30 percent of transactions in November, up slightly from 29 percent in October and 28 percent in November 2011. Investors, who account for most cash sales, purchased 19 percent of homes in November, little changed from 20 percent in October; they were 19 percent in November 2011.

Single-family home sales rose 5.5 percent to a seasonally adjusted annual rate of 4.44 million in November from 4.21 million in October, and are 12.4 percent higher than the 3.95 million-unit level in November 2011. The median existing single-family home price was $180,600 in November, up 10.1 percent from a year ago.

Existing condominium and co-op sales jumped 9.1 percent to an annualized level of 600,000 in November from 550,000 in October, and are 33.3 percent above the 450,000-unit pace a year ago. The median existing condo price was $181,000 in November, which is 10.6 percent higher than November 2011.

Regionally, existing-home sales in the Northeast rose 6.9 percent to an annual rate of 620,000 in November and are 14.8 percent above November 2011. The median price in the Northeast was $232,900, down 2.0 percent from a year ago.

Existing-home sales in the Midwest increased 7.2 percent in November to a pace of 1.19 million and are 21.4 percent higher than a year ago. The median price in the Midwest was $141,600, which is 7.0 percent above November 2011.

In the South, existing-home sales rose 7.9 percent to an annual level of 2.04 million in November and are 17.2 percent above November 2011. The median price in the South was $157,400, up 10.5 percent from a year ago.

Existing-home sales in the West rose 0.8 percent a pace of 1.19 million in November and are 4.4 percent higher than a year ago. With ongoing inventory constraints, the median price in the West was $248,300, which is 23.9 percent above November 2011.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

# # #

NOTE: For local information, please contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

1 Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from multiple listing services. Changes in sales trends outside of MLSs are not captured in the monthly series. A rebenchmarking of home sales is done periodically using other sources to assess the overall home sales trend, including sales not reported by MLSs.

Existing-home sales differ from the U.S. Census Bureau's series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90 percent of total home sales, are based on a much larger sample - about 40 percent of multiple listing service data each month - and typically are not subject to large prior-month revisions.

The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

2 The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to a seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR's quarterly metro area price reports.

3 Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR's Realtors® Confidence Index, posted at Realtor.org.

4 Total inventory and month's supply data are available back through 1999, while single-family inventory and month's supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90 percent of transactions and condos were measured only on a quarterly basis).

The Pending Home Sales Index for November will be released December 28 and existing-home sales for December is scheduled for January 22; release times are 10:00 a.m. EST.

Pending Home Sale Rise in October

Pending Home Sales Rise in October to Highest Level in Over Five Year

WASHINGTON (November 29, 2012) - Pending home sales rose strongly in October with mixed regional results, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 5.2 percent to 104.8 in October from an upwardly revised 99.6 in September and is 13.2 percent above October 2011 when it was 92.6. The data reflect contracts but not closings.

Lawrence Yun , NAR chief economist, said buyers are responding to favorable market conditions. "We've had very good housing affordability conditions for quite some time, but we're seeing more impact now from steady job creation, and rising consumer confidence about home buying now that home prices have clearly turned positive."

Outside of a few spikes during the tax credit period, pending home sales are at the highest level since March 2007 when the index also reached 104.8. On a year-over-year basis, pending home sales have risen for 18 consecutive months.

Yun noted there are clear regional patterns. "Contract activity surged in the Midwest and is showing very healthy gains in the South, but was down slightly in both the Northeast and West," he said.

"The Northeast saw some impact from Hurricane Sandy, but limited inventory in the West is keeping a lid on the market. All regions are up from a year ago, with double-digit gains in every region but the West," Yun said.

The PHSI in the Northeast slipped 0.1 percent to 79.2 in October but is 13.3 percent above a year ago. In the Midwest the index jumped 15.6 percent to 104.4 in October and is 20.0 percent above October 2011. Pending home sales in the South rose 5.5 percent to an index of 117.3 in October and are 17.4 percent higher than a year ago. In the West the index declined 1.1 percent in October to 105.7, but is 0.9 percent above October 2011.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Windham NH Real Estate Market Update

WINDHAM NH MARKET UPDATE AT A GLANCE | 10-4-2012

There were 154 homes sold in Windham YTD in 2012 vs.
125 Homes during the same period in 2011. +23.2%
The average home sales price was $404,055 in 2012 vs.
$406,036 during the same period of 2011. -1.33%
There were 35 condominiums sold in Windham YTD
vs. 28 during the same period of 2011. +25%
The average condominium sales price was $260,803 YTD 2012
vs, $258,472 during the same period of 20111. +.90%
The average days on market for homes was 125 YTD 2012
vs. 119 during the same period of 2011. -4.74%
SOURCE: NNEREN MLS Monthly Statistic Report (Represenst only REALTOR sales.)

Spruce Pond Estates Update | Windham NH

Spruce Pond Estates is in the midst of an exciting expansion with twenty new lots available for custom building. All of the recent inventory has been sold or is under agreement.   Pictured above is a sold home being custom built for a new owner on the Taninger Road cul-de-sac. Taninger Road has 12 home sites. There are several other foundations in with new construction beginning on distinctive designs offered by H&B Homes. There are also 8 lots available on Mallard Road. One of the pictures in this post shows the new paved access to the Windham "rail tail" which offers over 8 miles of paved trails for biking and walking. This is one of the most beautiful recreational assets available in the town of Windham NH. Mallard Road no connects the neighborhood to the center of town with easy access to schools and other amenities of Windham.

This "Wilson" model is being built on a beautiful lot on Jacob Road. Jacob Road, when complete, will be a cul-de-sac. The home itself features a beautiful entrance porch. The house itself is highlighted by a spacious first floor office off the foyer and a wonderful family and gorgeous custom kitchen. The master suite features a luxurious spa bath. Why not check out the new lots at Spruce Pond Estates this Sunday and discover why you should make this popular new neighborhood your home. Open House every Sunday 12-3.

Prudential Real Estate Outlook

 

IRVINE, Calif. - Brookfield Real Estate and Relocation Affiliates Inc., owner of the Prudential Real Estate franchise network, today released the quarterly Prudential Real Estate Outlook Survey showing that Americans' confidence in homeownership and real estate continues climbing from the first quarter and a year earlier.

Signs of growing confidence are widespread, according to the national survey. For instance:

  • 69% believe that real estate is a good investment despite the market volatility of the past few years, up 6 percentage points from the first-quarter 2012 survey and 17 percentage points from first quarter 2011.
  • 72% expressed confidence that the real estate market and property values will improve during the next two years, including a 6-point jump among those "very confident" or "confident" vs. the first quarter 2012, and a 14-point gain in this subset over first quarter 2011.
  • Nearly two-thirds (64%) of respondents have a favorable perception of the U.S. housing market, up from 60% in first quarter 2012 and 52% in first quarter 2011).

"The American Dream is clearly on the mend," said Earl Lee, president, Prudential Real Estate. "Americans are feeling better about homeownership and the ongoing recovery taking place in residential real estate. Many are increasingly optimistic about their personal circumstances and, with housing affordability near all-time highs, they want to act on the opportunity."

Factors driving homeownership  

Homeownership remains the central component to the American Dream, as 78% of respondents said owning a home was still "very important" - the same percentage reported in the first-quarter 2012 study. A full 98% said homeownership was at least somewhat important.

In addition, with interest rates at historically low levels, 96% of respondents at least "somewhat agree" that now is a great time to buy a home - the same percentage reported in the first-quarter 2012 study.

More than the financial reasons to buy a home, respondents placed higher priority on the emotional reasons for homeownership. "Control over living space," "more space for family," "safer neighborhood" and "good place to raise a family" rated higher than "a good investment," "financial security" and "tax benefits."

"Normalcy is returning to the U.S. real estate market and more people are buying homes for traditional reasons - to raise a family, feel secure and build a future," said Lee. "Every last emotion is rolled up into owning a home - it's where life happens - so it's no surprise that the emotional side outweighs financial reasons for owning a home among respondents."

Caution remains

The survey also shows that consumers remain cautious about the real estate market and process, as a full 30% "strongly agree" that the housing crisis reminds them to be more careful about buying or selling a home; up two percentage points from the first-quarter 2012 survey. In addition:

  • Nearly two-thirds (65%) of respondents indicated that financing or getting a mortgage is more challenging than it was before the market crisis, which is up from 58% in the first-quarter 2012 survey.
  • Among those considering a real estate transaction, 39% expressed concern they won't be able to sell their current home, up 11 points from the first-quarter 2012 survey and 10 points from first quarter 2011.
  • Given the dynamics and challenges of today's real estate market, nearly three out of four (74%) respondents think it is more important than ever to work with a good real estate agent for the best success in buying or selling a home (up from 71% in first-quarter 2012 and 67% in first quarter 2011).

"Real estate markets are improving around the country and consumers face many choices," concluded Lee. "Consumers should seek out a real estate professional who can help them make the best choices to suit their needs."

Prudential Real Estate Outlook Survey Methodology

Interviews with 1,250 Americans who are "in the market" to buy or sell a home were conducted online by Palisades Media Ventures and Penn Schoen Berland, between May 22 and June 1, 2012. Respondents are aged 25-64 with a household income of at least $50,000, and either recently bought/sold a home or are considering buying/selling a home. The margin of error is ± 2.8% for all respondents and higher for subgroups.

About Brookfield Residential Property Services

Brookfield Residential Property Services is a leading global provider of real estate and relocation services, technology and knowledge. The company's portfolio consists of leading brands, including Brookfield Global Relocation Services, the second largest provider of global relocation services, Prudential Real Estate, Brookfield Real Estate Services, Royal LePage, Real Living, Via Capitale and Centract. Through its real estate brands, it has nearly 80,000 real estate professionals in more than 2,800 locations, who transact over $150 billion annually. Its global footprint spans North America, the United Kingdom, France, China, Singapore, India, Brazil and Australia, and includes more than 2,500 employees worldwide. It is a division of Brookfield Asset Management, a global asset manager with approximately $150 billion of assets under management.

Brookfield Real Estate and Relocation Affiliates Inc. is a part of Brookfield Residential Property Services' integrated real estate brokerage franchise company. Its Prudential Real Estate franchisees are independently owned and operated. Companies are selected based upon outstanding performance records and high levels of customer service.

Prudential Real Estate provides franchisees with business strategies using Operation Reviews. Other benefits include access to Prudential Real Estate's Online Seller Advantage® program, designed to provide real-time information to sellers with the touch of a keystroke, and Online Buyer Advantage®, which enables consumers to easily search for properties in all 50 states and the District of Columbia. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,500 franchise offices and 50,000 sales professionals as of December 31, 2011.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities and are used under license, with no other affiliation with Prudential.

Windham NH Real Estate Market First Half 2012

First Half of 2012 Windham Real Estate Market in Review

The spring market of 2012 is officially over so it's time to look back and see what happened in Windham. During the first half of this year, there were 69 single family homes sold vs. 64 in 2011 during the same period. This is a 7.81% increase in the number of sales for the half year period. The big news is the average days on market decreased from 153 to 114. The average sales price increased from $387,400 to $399,900 or an increase of 3.22%. The median sales price increased from $367,625 to $393,000 or a 6.9% increase. As discussed previously, average and median sales prices often reflect what price ranges are having the most activity and may not necessarily reflect an actual increase in prices. Overall though, things are really active in Windham and the current pending sales (homes currently under agreement) volume bodes well for an excellent second half of the year.

The most active price range for single family homes in Windham was the $300,000-$399,999 price range with 22 closed sales. The second highest sales range was $400,000-$499,999 with 13 closed sales and third was the $200,000-$299,999 with 12 sales. There were only 5 closed sales under $200,000. The $500,000-$599,999 range saw 8 closed sales and the $600,000-$699,900 range saw 5 closed sales.   The upper price range has seen three sales above $900,000 so far in 2012.

Historically, this market is both much better and weaker in comparison to previous years. In the first six months of 2009 there were just 57 home sold but in 2010 during the first half 92 homes had closed. For the full year of 2009 there ended up being 136 single family closed sales compare to 183 in 2010. Of course the peak year for sales was 2002 when there were 259 single family closed sales, with an average sales price of $395,435, for the full year.

In the condominium market, the first half of the year saw closed sales increase form 14 in 2011 to 18 in 2012 or an increase of over 28%. The average selling price decreased from $249,938 in 2011 to $238,472 in 2012. Of the 18, 5 were priced over $300,000. The largest price range was $200,000-299,999 where there were 7 units sold.  There were 6 units sold for under $200,000. Again, it is hard to say that prices are declining because the average sales price is impacted by the fact that a couple of new condominium projects in the upper price range are nearing completion with fewer sales.

If you're thinking about selling your home or condominium, why not get an accurate picture of pricing and see how Prudential Dinsmore Associates, REALTORS will use their innovative marketing and real estate skills to get your home sold not matter what the current  condition of the market.

 

This representation is 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 of Windham Homes and Condominiums from 01-01-2012 to 07-03-12

Real Estate Market Improves in Southern NH

The first quarter of 2012 is now history and the real estate market in southern New Hampshire is showing signs of improvement. In Rockingham County there were 488 single family homes sold vs. 446 sold in the same period of 2011. That represents a 9.41 % sales increase in 2012. Condominiums sales in the Rockingham County were even stronger with 158 sold in 2012 vs. 126 in 2011. This is a 25.39% increase in condominiums sales in 2012.

So now you must want to know what's happening with prices. The average sales price for single family homes in Rockingham County, during the first quarter, dropped from $299,364 in 2011 to $274,118 in 2012 a drop of 8.43%. For condominiums the average sales price, in the first quarter, dropped from $186,830 in 2011 to $176,447 in 2012.

I am sure all my Windham friends want to know what is happening there. Sales were very strong in Windham during the first quarter of 2012. 24 single family homes sold in 2012 vs. 17 in 2011 which is a 41% increase. The average sales price of a single family home increased from $335,435 to $410,000 and increase of 22.5%. As I mentioned before, this does not necessarily mean prices have increased and it is more likely that more sales have taken place in the upper end of the price range.

In fact, that is exactly what the statistics show in Windham. In the first quarter of 2012, 12 single family homes sold for over $400,000 and 12 sold for under $400,000. In the first quarter of 2011 only 3 houses sold for above $400,000 in the first quarter with 14 sales below $400,000. You can see how this surge in higher price homes has pushed up the average sales price in Windham. This is good news for sellers with homes priced above $400,000.

Condominium sales were even stronger with 6 selling in the first quarter of 2012 vs. just 2 in 2011 or a 200% increase. The average sales price of a condominium dropped from $298,266 to $260,766. This decrease may be reflective of a large condominium development in town that is winding down.

Overall, the southern New Hampshire real estate market is showing improvement in the number of sales and in the upper price ranges, especially in Windham.

This representation is 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 of Windham Homes and Condominiums in the first quarter of 2011 and 2012