Tuesday, April 15th, 2014 at 9:25am. 105 Views, 0 Comments.
According to a new study compiled by Bennie Waller, professor of finance and real estate at Longwood University in Farmville, Va., listings that include property characteristics such as "granite countertops, wood-burning fireplaces, etc" sell for a price premium. The results of the study are staggering. For every property characteristic mentioned, the sale price of the listing increases by just under 1% and its probability of selling increases by 9.2% on average. The study also found that each additional positive opinion word, for example "beautiful" or "fabulous" increased the sale price by 0.9%. 10 positive words translate to a 9% bump in the sale price, on average.
However, it’s important to keep in mind that less is more when it comes to remarks.…
Friday, April 11th, 2014 at 9:28am. 160 Views, 0 Comments.
By Daniel Hussey
Curious to say the least, sales are down statewide for the month and the year as a whole. This is much different than what we are experiencing on the Seacoast and out towards Route 125. We are even seeing improved action up Route 16 in Barrington and Rochester, both markets which have lagged behind the general recovery. It's hard to say why fewer homes were closed in March. For the past two years, the Winter months were relentless and stifled our Spring selling season. This year we've seen peaks and valleys throughout the Spring, with a few two-week busy stretches followed by a few quiet weeks. We are certain inventory is down, prices are going up, and lending standards have gotten stricter, which may be keeping lower priced buyers out…
Thursday, March 27th, 2014 at 11:27am. 142 Views, 0 Comments.
Released on Wednesday by the Robert Wood Johnson Foundation and the University of Wisconsin Population Health Institute, Rockingham Country has been ranked the healthiest county in New Hampshire, while Coos County remained at the bottom of the list. The report is based on two categories- health outcomes and health factors. The health outcome category refers to how healthy people feel and how long they live, while the health factors category estimates the future health of countries based on peoples' behavior, the available health care, a county's physical environment and socio-economic factors.
Both Rockingham and Coos are at the top and bottom of both lists, but the other eight counties hold different spots depending on the category. For example,…
Wednesday, March 26th, 2014 at 1:35pm. 296 Views, 0 Comments.
You’ve prepped and tweaked for weeks now, and today’s the big day- the “for sale” sign is up! A negative first impression can directly translate into dollars off a full asking price, so be sure to follow these simple tips and tricks and you’re house will be off the market in no time!
1) Declutter the Clutter! - The first and most important step to a successful listing is to emotionally separate from the house and the objects within it. Although difficult, especially if having lived in the home for many years, thinking more objectively allows you to be more open to necessary changes and buyer/realtor feedback. Don’t forget: Foyer tables, fireplace mantels, and other small nooks are popular display spots for loads of personal items such as holiday cards,…
Friday, March 7th, 2014 at 2:47pm. 847 Views, 0 Comments.
By Daniel Hussey
For the state as a whole, sales and closings were down for the second month in a row. Like last year, winter has lingered on and we are now seeing the effects of the frigid weather in December and January. Quite to the contrary, we are seeing plenty of hot spots in our region but it is still a bit spotty. The Seacoast towns East of Route 108 remain very active along with the Route 16 corridor from Eliot, ME to Rochester.
The average price for closed single family homes exceeded February of last year. We expect the average sale price to continue to rise throughout the year for a number of good reasons. Inventory is low in certain markets while demand is strong. This often results in price appreciation, much like we are seeing…
Wednesday, March 5th, 2014 at 10:38am. 333 Views, 0 Comments.
Due to the rising borrowing costs, banks are now encouraging home buyers to lock in mortgage rates. Rate locks allow home buyers to guarantee a certain interest rate on their mortgage if they close on the home sale within a set period- no matter what happens to rates in the open market. Doing so allows home buyers to avoid a larger monthly payment than they anticipate when they apply for the loan. But borrowers should be cautious: Interest-rate locks often come with fees that can eat into savings and can actually be more costly if rates go down instead of up.
Since March 2013, the weekly average rate on a 30-year fixed-rate mortage increased from a record low of 3.49% in May to as high as 4.69% in September, according to HSH.com, a…
Monday, March 3rd, 2014 at 1:43pm. 208 Views, 0 Comments.
Explore A Tale of 2000 Cities by The Demand Institute. This interactive report demonstrates the rise, fall, recovery, and future prospects for the U.S. housing market as well as comparing how 2,200 cities align to 9 distinctive community profiles so you can chose your next neighborhood wisely!
Wednesday, February 19th, 2014 at 12:06pm. 239 Views, 0 Comments.
Just in time for Valentine's Day, Travel + Leisure Magazine added Portsmouth, NH to their list of the top "most romantic" cities in the country. Add that to the ongoing list of accolades Portsmouth has acquired in the past 15 years; walkability, progressive-minded young professionals, family-friendly neighboorhoods, history, arts and culture, and many more. It has been named one of the top places to start a business, it's been named on the of "prettiest" places in the nation, and has even been called the "Christmas Capital of America".
This past year, Josh Noel, a columnist from the Chicago Tribune, annointed Portsmouth as being pretty much perfect. Nancy Carmer, the city's Economic Development program manager, said the reason the city ends up on so…
Tuesday, February 11th, 2014 at 9:30am. 197 Views, 0 Comments.
Statewide Trends, January 2014
For the state as a whole, sales were down in January, which is quite the opposite of what we have seen in our markets. There were 700 single family home closings in January verses 790 last January. Don’t worry, just keep reading.
While the number of sales was down, the average price of the homes that did close was way up. This is a pretty dramatic change from what we’ve seen in the market trends over the past 4 years.
The graphs below illustrate how far the market has come in just the last year. It shows that the trend for January has almost completely reversed itself. When we compare sales in January between 2012 and 2013, it shows that the lower end of the market made huge gains while the high end of the…
Monday, February 10th, 2014 at 11:09am. 417 Views, 0 Comments.
Great news for those who enjoy the occasional spirit- the infamous wet bar has made a comeback. Although real-estate agents warn that the term "wet bar" won't necessarily attract buyers, builders and designers say more homeowners aren't only installing the feature, they are being placed on the first floor of homes.
In a recent survey, 30% of respondents consider it essential or desirable when spending between $250,000 and $499,999, while 42% do when the price hits $500,000 or more. Between 2001 and 2012, the demand has double to 4% according to the National Association of Home Builders.
Chip Swartz, president of Ohio Basements, based outside of Cleveland, says half of his latest quotes have been for installing wet bars in great rooms and dining…