NH Real Estate News

The Gove Group’s Fall Festival of Homes Tour
September 24-25, 2016

This weekend, September 24 and 25, 2016, The Gove Group Real Estate is holding its annual Fall Festival of Homes Tour with over thirty open houses throughout the Seacoast and Southern NH/Maine! The Gove Group’s most desirable new home communities and existing homes will be on display this weekend for you to tour through. 

Despite having over thirty spectacular open houses for you to tour, many of the new home communities we offer are currently out of standing inventory for the open house weekend. However, we welcome you to drive through (carefully) any of the new home communities that have homesites available. Visit TheGoveGroup.com to see the complete list of towns and their new home

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Home sales for Rockingham & Strafford counties continued to climb in August increasing by 5% over July. This marks the first time since 2012 that August sales have outpaced July. August sales year over year also increased by 2.4%. Housing has yet to see the usual fall increase as supply has fallen to a 3.2 months’ supply in Rockingham & Strafford counties. 

Average home sales price has continued to rise for the second month in a row coming in at $315,443 and has now been above the $300k plateau for the fourth month in a row. Sales price increased 2% over July and a substantial 7% compared to last August. We expect the average sales price to remain above $300,000 through the fall market.

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As real estate information becomes more accessible to homeowners, the role of thefull-service real estate agent has taken on new meaning.

Real estate agents have traditionally provided home sellers with a complete service throughout the transaction, from the initial consultation and marketing to showing the home and negotiating with the buyer's agent. But particularly in the last decade, companies and agencies have begun offering a la carte alternatives to full-service agents, giving sellers the opportunity to choose what they need help with, from marketing to assistance preparing for the closing process, while collecting a flat fee for each service.

Amid the rise of a la carte options, full-service agents have in many cases been ramping up and

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What are they? A home appraisal is a very educated guess as to how much your property is worth.

Why are home appraisals important? No credible financial institution will lend you money for a house without an appraisal.

"The appraisal lets a bank or lender know what the loan collateral will sell for in a worst-case scenario," says Bart Jackson, an appraiser in Charleston, South Carolina, who is also a real estate agent with Charleston Preferred Properties, a residential real estate brokerage firm.

In other words, to go with an extreme example, the bank doesn't want to be stuck with a home they lent the borrower a million dollars for but can only sell for $100,000 because that's all it is worth. The homebuyer shouldn't want that either, of course.

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Open houses have always been a staple in a listing agent’s bag of marketing tools and with good reason. In the National Association of Realtors 2015 Profile of Home Buyers and Sellers , it was reported that 48 percent of homebuyers used open houses as a source to gather information in their home purchasing process. To sell your house, you need to give buyers the opportunity to actually spend time in your home, not just look at pictures online.

Creating an effective open house requires careful collaboration between you and your real estate agent. You will need to take into account when the listing is going on the market, where the most effective advertising will be, and how to set up your home so it shows to its full potential. Here are three key things

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Single family home sales for Rockingham & Strafford counties increased by 22% in July to 768 homes sold. The month to month increase from June to July is far greater than the average increase of about 5% during the same time period in the past 3 years although year over year sales for July have decreased by 15% from the peak last year of 906 sales. Currently in Rockingham & Strafford counties there is only a 3.4 months’ housing supply and we have continued to see an extremely competitive bidding market with many listings getting multiple offers within a 48 hour period which has contributed to the median Days on Market falling to just 15 days this month.

 

 

For the third month in a row the average sales price has stayed above $300k,

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  State personal income grew 1.0 percent during the first quarter as 22 of the 24 industries the BEA tracks posted gains during the quarter. Healthcare, construction and technology fueled growth in the first quarter.   Incomes Rose Across Most Industries and Regions State personal income grew at a 1.0 percent pace during the first quarter, matching the pace from the fourth quarter of last year. Earnings grew in 22 of the 24 categories tracked by the Bureau of Economic Analysis (BEA), with healthcare, construction and professional, scientific & technical services making the largest contributions to earnings growth.   Earnings in healthcare rose in every state and made a disproportionately large contribution in slower growing states, such…
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Real Estate at the State House, 2016 in Review

Courtesy of an article published by the NH Realtors, Government Affairs 

There was no shortage of bills pertaining to the real estate industry in 2016, and your Government Affairs team was working hard to advocate on behalf of New Hampshire's property owners and your business. Below are a few of the more significant pieces of legislation that NHAR had its collective eyes on this year. 

What passed out of the legislature ...

Radon in the Water

Senate Bill 311: NHAR worked with the NH Department of Environmental Services (DES) for over a year and a half in an attempt to alter the state's strictest-in-the-country guidance on private wells with radon in the water. This bill

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Gina O'Keefe has recently joined the Gove Group team!

The Gove Group is proud to welcome Gina O’Keefe to our team of successful Realtors. While new to the real estate community, Gina brings a wealth of professional experience to the table, and an impressive base of business clients in southeastern New Hampshire and the North Shore of Massachusetts. She is a Notary Public and has overseen real estate transactions throughout her professional career.

Raised in Lynn, Massachusetts, Gina had lived in Maine, Vermont and New Hampshire, before settling in Epping, NH in 2007. She is a true New Englander. She earned her Bachelor of Science in Psychology from Lesley University in Cambridge. Her business experience in marketing, human resources, executive

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The Gove Group is proud to welcome Hank and Candus Cavaretta, an experienced husband-and-wife Realtor team, to our Stratham office!

Candus and Hank Cavaretta are a husband-and-wife team, both experienced New Hampshire Realtors. Together they specialize in single family residential, condominium sales, luxury waterfront properties, vacation/second homes, as well as residential leasing. Candus and Hank bring knowledge, experience, integrity, and professionalism to every transaction.

As a native to the Seacoast area, Candus Cavaretta is very familiar with the local communities. She has resided in Portsmouth for the majority of her life, raised two sons and actively participated in the Portsmouth school system. Candus was a military dependent and

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