NH Real Estate Market moving upward

NH Real Estate Market on the Rise

NH Real Estate market is moving upward… even the mainstream press is now starting to report that the bottom of the housing market is here. Take my advice, if you’re looking to buy a home do so now. It would be nice if we all had a crystal ball and could know for sure when the moment arrives but the reality is we usually don’t know we’ve peaked or hit bottom till things start to change. We’re seeing that change now.  The NH real estate market is on the Rise….don’t kick yourself in the butt for missing this opportunity and the potential $8,000 tax credit. Need an agent? I’d love to help you… just give me a call or text me.Monika McGillicuddy, Southern NH REALTOR 603-548-7728.

Robert Allen states….

“What’s changed from a few months ago is that inventory has begun shrinking, bidding wars have started across the country, and prices are finally starting to rise in many markets. I’m encouraging all my clients to start looking for properties again,”

Check out the entire article where Robert Allen Calls the Bottom…   Robert Allen Calls the Bottom

Jay and Monika McGillicuddy, NH REALTORS

New Hampshire Real Estate Blog

Jay and Monika McGillicuddy

Prudential Verani Realty

2 Main Street Hampstead NH

603-327-0246 direct line

603-434-2377 office

Golden Age for NH first time home buyers…

Some positive real estate news for a change!

Don’t miss the golden age for first time home buyers. This is the best time to buy in 43 years! If you’re house hunting you should seriously think about stepping the process up a notch. You may not have heard much good news as far as real estate goes from much of the mainstream press but really this is a great time to buy … don’t just take my word for it. A recent NY Times article really said it all.

The article starts with these profound words..

Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rear view mirror and realize that we missed a golden age for first-time home buyers.

The article written by Ron Lieber can be read in its entirety in the NYTimes.com money section and is well worth reading.

In case you missed my recent podcast which was sort of a summary of the southern NH real estate market and my outlook for 2009. You can listen to it by clicking on the player at the bottom of this post.

Remember..

This is the best time to buy in 43 years!!!  How can you beat this… Interest rates are at historic levels, housing pricing is extremely desirable, inventory is plentiful and the average homeowner’s net worth is 46 times the net worth of the average renter. Why would you want to rent when you could own?

Call us if you’re thinking of buying and want someone who can guide you through the process…it would be our honor.

NH Real Estate…Black Friday?

This morning Jay got up bright and early to run to Staples. He got there a few minutes before the opening of the highly anticipated Black Friday sale. There were people waiting in line and the shopping scene was one of controlled determination. The shoppers had a mission and the “deals’ were fantastic. When Jay told me about his novice Black Friday shopping experience I couldn’t help but make a comparison to real estate. Here we are in the midst of one of the best home shopping markets in many-many years…yet no one is lining up.

There is plenty to choose from that’s for sure

Home inventory is way up with bank owned properties just dominating the market…yeah, there are a lot of bank owned (REO) properties out there that are pure junk but those can be picked up for a steal. Actually most REO properties can be stolen this time of year. So here we are…conditions are ripe with 30 year fixed rate mortgage programs near 5.5% with no-points. Down payment funds can be gifted and there is a $7,500 tax credit to take advantage of with your 2008 tax returns.

Conditions are ripe

Yet the buyers are still hanging back, waiting…consumer confidence is still down and I think buyers are waiting for the market to drop further. Will it? Who knows and who knows how much if it does. My theory is if you’re renting now…you’re just helping to pay off someone else’s mortgage and with the property discounts available during our current Black Friday NH real estate market conditions…you’d be crazy not to take advantage of it. If you’re gainfully employed and have a credit score of at least 580 or better and want to own your own home conditions are ripe. Come and see for yourself…you could be in your own home by the end of the year.

September NH Market Trend Report…

September 2008 Market Trend Report

Bad Economic News Makes Selling Anything Harder

It sure does but last I heard oil was below 65.00 a barrel..Yippee!

This months market report by Demographer Peter Francese was released by the New Hampshire Association of REALTORS and the title really says it all. Or does it… I’ll let you be the judge. But keep this bit of info in mind, real estate is local even in NH AND Single family home sales in Hampstead NH are up 18 % as of today compared to last October but prices on average are down 6% from last year with the median prices being down 9% over last year. Up 18% for Hampstead is pretty good especially since Hampstead was pretty hard hit with declining values and sales volume.

Bad Economic News Makes Selling Anything Harder (Reprinted with permission from NHAR)

By Peter Francese

The economic outlook could hardly get much worse. Yet every one of us working stiffs still has to get out of bed every morning and try to conduct some business. There’s little doubt that the remainder of this year and next year will be a difficult one for many businesses, including real estate.

New Hampshire’s annual median family income in 2007 was nearly $75,000 – fifth highest in the nation. Read more

New Hampshire Home sales… it’s more than statistics

New Hampshire Home sales it’s more than statistics…much more

You can read all the statistics in the press and hear the dire reports on the news. In fact today’s New Hampshire Business Review, business news and analysis, had a headline crying out “NH Home Sales Drop 23 % in August” which talks about the drop in the real estate market in comparison to 2007. Those of us that lived through the infamous real estate year 2007 know that it was a pretty bleak year so you can imagine how 2008 has been for many. REALTOR membership numbers have dropped as well with many agents leaving the business. Those of us that are hanging in are finding it extremely hard but at the same time realize what a great opportunity we have.

I wish I had a crystal ball

The hard thing of course is to predict what will happen in the next year and how is the current financial crisis going to effect the real estate market. For buyers this is a prime picking season, as long as they are able to secure mortgage funds of course. Sellers are getting very creative and realistic if they have to sell. Last night I showed a new listing, it had been on the market one day and already had four above asking price offers in. Read more

Something funky is happening in the Southern NH real estate market

First off let me remind you I’ve been in real estate sales full time since 1984…that’s 23 Decembers. So when I say I feel something funky happening I know what I’m talking about. This has been a very busy December and I’m not talking Christmas shopping and holiday preparations busy…I’m talking real estate busy. My last 4 purchase offers were in a multiple offer situation, I have buyers actively looking to “buy a home now” not just whenever it happens. Read more

Next Page »