Wow! Lending institutions are making free money available to home buyers! Well, maybe not free, but it is about as close to free as you are probably ever going to get! FHA and conventional 30 year mortgages were at 4.375% when I checked the other day. A 15 year fixed rate was an unbelievable 3.75% and a 5/1 ARM was at 4.125%. These are really pretty extraordinary interest rates! It is also extraordinary, in a bad sort of way, that even with the relatively low home prices, buyers are not taking advantage of this great opportunity. You’d have to conclude that buyers are, well, just way too scared to buy anything right now. So where are we headed? I don’t think rates can go any lower. Maybe the banks will follow the lead of stores like Home Depot, Sears, and Best Buy and offer loans with no interest for 12 months if you buy a home before the end of the year! Maybe they can do like GM does, buy a car, try it for 60 days, and if you don’t like it give it back? Oops, buyers are already doing that! I wasn’t in the business when rates were 15% or so back in the 80’s, but I’m told even with rates that high people were buying homes. It is truly amazing how things change.
I searched the MLS for some potential good deals so that you can take advantage of some of this “near-free” money that is available and came up with a few homes that I thought worth a look. I like the property listed at 27 Lincoln Street in Laconia. It is offered at $144,900 which is 82% of the current tax assessment of $175,800. This solid New Englander has been in the same family for 58 years and has been well maintained. It has 1,580 square feet of living space, three bedrooms, two baths and has replacement windows, vinyl siding, a newer roof, newly paved driveway, a nice three season porch, and a one car garage. You’ll find original woodwork and hardwood floors under the carpet. It just sounds like a solid deal to me!
There is a great opportunity in Gilmanton to own a classic center chimney in the historic four corners area.
This home was built in 1810 and sits on a nice 3.8 acre lot at 443 Route 140 just west of the corners. There are four bedrooms, two full and a three quarter baths, an updated kitchen (you won’t need to go to the brook for water), three fireplaces on the first floor in case the power goes out, a two car detached garage. The previous owner had the home on the market for $395,000, but is now bank owned and listed at $189,900 which is 56% of the assessed value of $339,900. If you like older, historic homes this is a great deal. I’m not sure if the place has Indian shutters, but you might need them soon.
Over at 96 Parsonage Drive in Laconia there is a single owner, three bedroom, four bath, Garrison style home built in 1986. This home features two separate master bedrooms, one on the first floor and the other on the second, an oversized eat in kitchen, a formal dining room, a large living room 
with a brick fireplace, and a two car garage under. If you are looking for privacy, this could be for you as it sits on a six acre parcel of land and you can’t see the house from the street which is OK unless the buyers can’t see the forest for the trees. The home does need some updating inside and out but it is priced at $249,000 which is well below the assessed value of $336,400, so you should have some room to do the remodeling. Parsonage Drive is a great neighborhood off Parade Road with easy access to Meredith as well as downtown Laconia.
So check these homes out if you are looking for a great deal in the Lakes Region of NH. And remember to ask for some of that “near-free” money while the supply lasts…
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The walk-out basement has a large finished room, plenty of storage, a workshop area, and a craft room. 
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