It is time to take another look around the MLS system to see what kind of potential deals can be found in the Lakes Region of NH. There is certainly enough inventory out there to choose from. Some of the older homes on the market are offered at prices that would seem to make them pretty good values particularly if you can fix them up yourself. There are always some repairs, system upgrades, or cosmetic issues to deal with in older homes but many of these homes are well built and have charm and character that is difficult to replicate in newer construction..

For example, If you’d like a stately, turn of the century home on one of the nicest streets in Laconia, the property at 229 Pleasant Street just might satisfy the “This Old House” urge in you. This home has 3,878 square feet of living space (more…)

February is here and the days may be getting longer but the home inventory in the Lakes Region of NH is getting larger. We edged up from 869 homes on the market last month to 926 homes listed as of February 1 with a current average asking price of $590,214. That is on par with last February when the inventory stood at 923 homes, but the average price was lower at $548,470. Currently, we have a 15 month supply of homes on the market based on sales numbers over the past year. That is still about three times what is considered a normal or good inventory level.

As reported previously, the average sales price of homes is definitely down in the Lakes Region as well as the rest of the country. I thought it would be an interesting exercise to break the numbers down a little further and see how the (more…)

Election over, home sales up?

The inventory level of homes on the market in our Lakes Region list of towns dropped about 7% from last month and now totals 1218 listings as of November 1. This represents about a 21 month inventory of homes that are currently on the market. That is also a slight decrease from the 23 month inventory shown last month. This is good news, but we still have a long way to go to get back down to reasonable levels.
 
According to the National Association of REALTORS® existing home sales across the nation, including single family homes and condos, rose 5.5% in September.  Housing inventories on the national level fell at the end of September by about 1.6%.  A lot of this has to do with the fact that median homes prices have fallen which is partly a result of the increase in foreclosures and distressed sales. As of September 1, the national median home price was $191,600 which is 9% lower than last September. Out in California existing home sales were up a whopping 97%. The bad news is prices there have fallen 41%! The good news is that the houses are coming off the market and reducing inventory levels. They had one of the biggest run ups in home prices and therefore have the farthest to fall. When prices come down homes sell.
 
The elections are finally over and it is time to take down all the political signs, rake up the leaves, and get your property ready to sell during the upcoming holiday season. If your house is on the market there is no doubt that you have many chores to do before winter hits that will help present your home at its best for potential buyers. There will be a few more warm days to finish cleaning up the yard, doing some touch ups on the paint and trim, and maybe even getting the windows clean. Keep your curtains open to let more light into your home as November is always seems a little dull and gray. Buyers don’t like dark rooms. So that means your home needs to be spotless. If you have a fireplace always have a fire going as it sets a great mood and shows off that feature of your home. And do your best to decorate your home to the max inside and out and create a holiday feeling that buyers can admire and relate to. It just might sell your house. Selling a home during the holidays can be a little stressful, but keep in mind that the buyers that are looking now are the real serious ones.
 
Now that the elections are over I do expect that homes sales will be on the rise. Not because we have a new president or that a euphoric feeling of change has swept over the country. My feeling is that with the political signs down, buyers might actually be able to see the for sale signs again!

Residential Homes Available November 1, 2008

Report covers the towns of Aton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, Moultonborough, New Hampton, Sanbornton, and Tilton

Just Another Crisis

The residential inventory in the Lakes Region of NH continues to increase.  As of the first of September there were 1347 homes available compared to 1313 last month in the twelve towns listed. This equates to 23 months worth of inventory on the market or almost 2 years worth of inventory! To put this in perspective, as of January 2006 we had about a 7 month supply of homes on the market, as of January 2007 we had about a 10 month supply, and as of September 2007 about a 16 month supply. So if you are wondering why it is taking your home a while to sell, this fact might shed a little light on it for you. There is a lot of competition in each price range. So if you want to sell in a reasonable time frame, price your property to be the best deal out there or it could still be for sale two years from now. While the glut of homes on the market is certainly not great news for people trying to sell, buyers should be taking advantage of this market. There are some really good deals to be had and interest rates have fallen to below 6% this week so it is the perfect time to buy.

We have a new, emerging crisis! One of the most iconic fixtures to be found on the American home is being pushed one more step toward extinction. While many of our younger generation have never laid eyes on these symbols of American prosperity and technology (and probably don’t care to), I have personally seen some children look at these roof top sculptures of art with awe and wonderment. “Look at that Daddy, what is that?” they exclaim. Yes, the beautiful roof top television antenna which provides free television reception is nearing extinction. As of February 17, 2009 all television broadcasts will switch form analog transmission to digital (whatever that means) rendering these works of roof top art useless unless a converter box is purchased. This could be a crisis of national proportion. What could be more stunning on a house than two, perhaps three, beautifully aged antennas pointed in several different directions? What could be more pleasing to the ears than the whir of the second most important invention in the history of mankind: the antenna rotor! So please help save this symbol of prosperity, our dedication to home entertainment, and our thirst for knowledge. Don’t discard your antenna if you have to begrudgingly come out of the 1950’s into the world of HD cable and satellites. Carefully take your antenna down. It is far too beautiful to leave on the roof anyway. Display it proudly inside your home. They fold up easily and take up much less space than the exercise equipment you currently hang your clothes on and the rotor function makes it unnecessary to reach for clothes way in the back!  So stay tuned, we’ll be right back! (I always wanted to say that).

Residential Homes Available as of Sept. 1, 2008

Report covers the towns of Aton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, Moultonborough, New Hampton, Sanbornton, and Tilton