If you are looking for a great primary residence or the perfect vacation home this two bedroom, 2 1/2 bath townhome could be just for you. (more…)
This tastefully decorated 1212 square foot, two bedoom, one and a half, townhome offers affordable living in one of the Lakes Region most desirable communities.
The stylish eat in kitchen is well appointed and flows nicely into the spacious living room. There is a private back deck andback yard that’s perfect for barbequing. A large master bedroom, full bath, and a second bedroom/den are located upstairs. There is a full basement plus an over size one car garage. This townhome is the last one on the cul-de-sac making it one of the more desirable (and private) units! No surprises here! Schedule a showing soon…
 |
 |
 |
 |
 |
 |
According to Dictionary.com:
con•cede [kuhn-seed] verb, -ced•ed, -ced•ing. verb (used with object)
1. to acknowledge as true, just, or proper; admit: He finally conceded that she was right.
2. to acknowledge (an opponent’s victory, score, etc.) before it is officially established: to concede an election before all the votes are counted.
There are many times in life that you need to make compromises. You’ll find that you may have to give something to get something. You may have to concede something in order to succeed in something. It is no different in a real-estate transaction. Sometimes a home seller can lose sight of the fact that his goal is to actually sell his home. A seller may think he is losing and the buyer is winning if he makes concessions. It is kind of ingrained in our psyche. I think it started in grade school on the ball field. No one ever likes to concede the game…
But in a business transaction, making concessions is part of the deal making process. And in reality, selling a home is just that; a business transaction. It is not about who is right or wrong or admitting defeat, it is about compromise, and the art of making a deal work. The most common “seller concession” is a contribution toward the buyer’s closing costs. This has been common practice for many years particularly for first time buyers who have good credit but not all of the cash necessary to purchase a home. In an FHA loan, for example, the buyer has to come up with at least a 3.5% down payment but is allowed to get a contribution from the seller of up to 6% of the purchase price to cover closing costs. These costs include items such as the title search, appraisal, tax stamps, etc.
A contribution toward the buyer’s closing costs obviously is really a reduction in what the seller will net on the sale, so it should be looked at with respect to the other terms of the offer. If the buyer has made a low ball offer then he’s not likely to get a concession for closing costs, too. The seller may also feel that he does not want to accept what would be essentially a 6% reduction in his asking price, especially if his home is really (and truly) priced correctly. These days, most sellers realize that they will have to give up something so no deal should be lost over a seller concession for closing costs. Buyers are too hard to come by! If the seller really doesn’t want to contribute all that is requested, he could counter to see if the buyer could come up with part of his closing costs. If the buyer truly needs a seller contribution, all or a portion of that amount can be added on top of the purchase price so that the seller nets an amount that is acceptable to him. The property, of course, will need to appraise at the slightly higher purchase price. The buyer also has to be approved for a loan for that slightly higher amount. This can be a win win for both parties.
After the initial deal is made, other concessions may be asked for to correct defects in the home found as a result of the home inspection process. Many times there are items that arise that the buyer would like to have fixed before the closing or have another seller concession so that he can fix them later. They may, or may not, be big issues to correct. Sometimes they get blown out of proportion by either the buyer or the seller. The buyer should be aware that he might not get all, or any, of the home inspection issues corrected if he has received a large seller concession up front to make the deal happen. The buyer can also opt out of the deal and not purchase the home if the issues are too big to resolve. At that point the seller has another decision to make. He can concede something and succeed in selling his home to the buyer or put his home back on the market and hope to find another buyer. He must remember though, all the defects found in the home inspection have to be disclosed to any future potential buyer. Sometimes making a few concessions can go a long way to getting you where you want to be…
There were 1,399 residential homes for sale in the towns in this Lakes Region report at the start of September, 2010. The average asking price was $521,155 and the median price was $269,000. The inventory level is up compared to last September when there were 1,318 homes on the market. The average price then was $553,314 and the median was $285,000. The current inventory level represents a 22 month supply of homes on the market, oil is about $90.00/barrel, and unemployment is at 9.1%. But, football season is starting. So you see, there are always some bright spots…
Condo living has always been a great alternative for many home buyers in the Lakes Region of NH. Many people, especially retirees, enjoy the low maintenance lifestyle that living in a condo can provide for them. Those looking for a vacation home don’t want to have to cut grass and paint the trim when they are up on weekends, they want to be out on the boat or the golf course! Others like to take advantage of the amenities that may come as an added benefit in many condo complexes. Access to the lake has always been a driving force behind many condo purchases. For many buyers, a condo with a beach access, dock space, or a mooring is much more desirable than those without. A “shared access” condo has always been a highly desirable and an affordable vacation alternative to buying a much more expensive property located directly on the water. The affordability factor is also appealing to anyone who may be just getting into the housing market. There has been an abundance of entry level type condos constructed in the Lakes Region over the past five to six years so there is a lot to choose from…
How have condo sales faired over the past few years? Well it seems that the same pain that has inflicted the single family home market has also radiated into the condo market as well, at least when it comes to the total number of sales. That dreaded yellow fever has affected many condo buyers as well! Gilford, Laconia, and Meredith had a total of 139 condo sales in 2008 and 142 sales in 2009. That is 30% off the total sales number of 200 in 2007 but down a whopping 56% from 2004.
Surprisingly though, the average sales price of condos in Laconia and Gilford have held up pretty well with Gilford posting its highest average in the last six years at $208,197 and Laconia posting a gain over last year at $193,646. The $182,481 average sales price in Meredith is down considerably from the $300k plus numbers posted in 2004 and 2007, but that is due to the majority of the sales being lower priced bank owned units at Meredith Bay Village. These units have all sold at about 60% of the tax assessed value making them pretty good deals!
As with single family homes, there are some deals out there to be had in the condo market for those buyers willing to take the plunge. Will buyers go swimming in 2010? It is anybody’s guess, but those that do will find good values and great investments in the Lakes Region.
So what’s out there for deals on condos right now? Just like the rest of the market there are some good deals to be found if you look around. Through the end of October the average sales price for condos in Belknap County Prices stands at $181,903 compared to $205,847 last year for the same period. The total number of condo sales in Belknap County is also down about 30% so far this year compared to last. So if you are in the market here are a few nice units to check out.
If you are looking for a waterfront condo take a look at the bank owned listing at 80 Prescott Ave in Laconia. This is a 2,092 square foot, split level style home that is part of a three unit association called Hawk’s Haven. Enjoy great views from your deck looking out over the shared beach and docks just steps away. The agent says this property is move in ready. It has 4 bedrooms, 3 baths, an eat in kitchen, and large family room so there is room for a crowd. As with all bank owned properties, this home is being sold in “as-is” condition and is listed at $319,900 which is only 57% of the assessed value of $565,100!
If you like to golf then you need to see the offering at 16-2 Eagle Ridge Rd in Center Harbor. This home sits on the 16th fairway of the Waukewan Country Club and is just a short walk to the clubhouse. This 2,000 square foot home has 6 rooms, 2 bedrooms, 2 full baths, a large private master suite, den, a living room with a brick fireplace, screened porch, plus a deck overlooking the golf course. This unit was originally offered at $249,000 and is now reduced to $199,000. Fore!
Another offering just under the $200k mark at $199,900 is Unit 16B, Liberty Run in the Fields Crossing complex in South Down. This is a 1480 square foot, 3 bedroom, 2 bath unit with a 1st floor master suite, living room with cathedral ceilings and fireplace, efficient monitor heat, a one car garage and all the amenities that South Down has to offer. This unit was originally listed at $262,900 and is now priced at 89% of the current tax assessment. Seems like a pretty good deal.
For more information on these homes and other great deals check out www.lakesregionhome.com/great deals .
Our real estate market in the Lakes Region of New Hampshire depends tremendously on second home and vacation home sales. Condominium sales are a big part of that category. Condos are often a more affordable option for many buyers. They also appeal to buyers that want to vacation in the Lakes Region without the hassle of maintaining a home. We’d all rather be enjoying outdoor activities in the summer instead of mowing the lawn or staining the deck! Condos also are often a great alternative for retirees and first time buyers just getting into the wonderful world of home ownership. Buyers will find condos primarily located in the towns of Laconia, Meredith, and Gilford.
The price of a condominium in the Lakes Region …
Click here to see rest report:
RISMEDIA Forbes: Real Estate0 | Unique Visitors |
House Plan Gallery
The Cool House Plans Company
