Dan's Sunapee Region Blog

April '09 Sunapee Region Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Thu, 14 May 2009 11:09:21 -0500

April sure went by fast and I think things are really starting to change. Beyond the fact that sales are up 28% for this time period, it really seems like there is more general confidence out there. When running into people the first thing out of their mouth is no longer “hey did you see xyz company closed, this person went bankrupt, etc”. Provided we don’t have any more economic curve balls, I feel like we’re slowly on our way out of this downturn!

Historical Sales For Our 16 Local Towns
January 2006-23 Sales
January 2007-29 Sales
January 2008-27 Sales
January 2009-15 Sales
February 2006-26 Sales
February 2007-30 Sales
February 2008-25 Sales
February 2009-15 Sales
March 2006-35 Sales
March 2007-38 Sales
March 2008-17 Sales
March 2009-29 Sales
April 2006-46 Sales
April 2007-28 Sales
April 2008-21 Sales
April 2009-29 Sales

Please click here to visit my blog for the rest of the sales break down!

Source:

http://sunapeeregionblog.com/2009/05/07/april-2009-sunapee-region-real-estate-sales/

**All data used is from NNEREN MLS and is subject to Human Error : )*

Excellent Energy Efficient Home!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Thu, 14 May 2009 11:04:18 -0500

Beautiful Estate Setting with Pond and Barn!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 14 Apr 2009 13:33:44 -0500

March '09 Sunapee Region Real Estate Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Mon, 06 Apr 2009 12:53:28 -0500

It seems like forever since I have run the monthly sales numbers and have had even a remotely positive uptick in the number of transactions! Well as you will see sales in the Sunapee Region are up 41% compared to the same time last year. We are still a bit below past years, but it is always nice to hear some positive news!

34 homes went pending this March

Please click through to see the breakdown of the sales for the month www.SunapeeRegionBlog.com

Also for additional information on recent housing programs click the links below.

American Recovery and Reinvestment Act

1st Time Home Buyer Tax Credit Info

February 2009 Sunapee Region Real Estate Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Wed, 11 Mar 2009 06:10:59 -0500

This was definitely a short and busy month with lots of changes in the housing industry. A couple major housing plans/acts were signed and decided upon

The Homeowner Affordability and Stability Plan
American Recovery and Reinvestment Act of 2009.

Needless to say this is a very intense time for the economy and it is going to be interesting to see how it all plays out. I’ll be doing a post soon about some of the new housing plans/acts/ bills and quick summaries of their key points.

There were 27 listings that went under agreement this past month. To see the rest of February's stats, please click through to my Sunapee Region Blog

Amazing Sunapee ski house with direct access to miles of snowmobile trails!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 10 Mar 2009 19:52:01 -0500

January 2009 Sunapee Region Real Estate Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Fri, 27 Feb 2009 13:09:10 -0600

This past month sales were down by almost 50% in comparison to previous years. However, we did have 26 listings go under agreement this January and as reported on WMUR- New Hampshire winter tourism numbers have been quite strong. I recently spoke with Will Hurley owner of Outspokin’ Bicycle and Sport in Newbury and he said sales this year have been surprisingly strong for what was expected to be a tough year. People are still buying skis and taking advantage of the great snow conditions–Best stress reliever I can think of!

Historical Sales For Our 16 Local Towns
January 2006-23 Sales
January 2007-29 Sales
January 2008-27 Sales
January 2009-15 Sales

* 26 listings went pending this January

Please click through to Sunapee Region Blog to see the rest of the sales breakdown.

Summary of Sunapee Region Land Sales from 2001 to 2008

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 17 Feb 2009 14:47:52 -0600

As a follow up to my post “You Sold your land for what?@$%&!” Below is a quick summary of how 2008 balanced out compared all the way back to 2001. You will see there certainly has been a significant decrease in the number of properties sold...I think a fair portion of this is obviously due to the economy, but also as more land becomes developed and built upon there is less to sell.

*DOM = Days on market

**All data used is from NNEREN MLS*

Source:
http://sunapeeregionblog.com/2009/01/29/2008-land-sales-summary-sunapee-region/

Top 5 Real Estate Myths!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Sat, 31 Jan 2009 06:20:29 -0600

I just read this post by Ines Hegedus-Garcia from miamism.com where she summarized a piece that the Today Show just did on the 5 Biggest Real Estate Myths. This definitely applies to our Sunapee Region real estate marketplace and I’m sure it’s dead on for many other markets across our country.

1. Sellers are desperate
2. Don’t buy before prices have bottomed
3. You cant buy a home unless you have 20% down
4. Now’s the absolute worst time to sell
5. Before you refinance, shop around.

I think everyone can agree that making assumptions is never a good strategy to approach a big real estate purchase. The best thing you can do when considering buying a piece of Miami Real Estate is to contact a Realtor you know and start asking - a good Miami Realtor will explain market intricacies that may not be that obvious and will help you create a good plan.

Thanks Ines for a great summary of some spot on real estate myths!

Source:
http://sunapeeregionblog.com/2009/01/27/5-biggest-real-estate-myths/

Waterfront Property - Lake Sunapee average sales price increases in 2008!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Fri, 30 Jan 2009 15:08:19 -0600

The Sunapee Region has so many wonderful bodies of water to enjoy outside of the 3 major ones - Lake Sunapee, Little Lake Sunapee and Pleasant Lake. To see more information on the smaller lakes and ponds please visit my post: “Sunapee Area Lakes and Ponds“. As you will see in the graph below, the average sales price for properties on Lake Sunapee has increased quite steadily over the past 5 years. I have discussed this with other agents in my office who have been selling properties up here for over 20yrs and they’ve all commented that lake properties always tend to ride the downturns much better than the average property.

**All data used is from NNEREN MLS*

For more additional information on lake sales please click through to my blog at SunapeeRegionBlog.com

Source:
http://sunapeeregionblog.com/2009/01/22/lake-sunapee-pleasant-lake-little-lake-sunapee-historical-real-estate-sales/

Lake Sunapee Region '08 Market Snapshot

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Fri, 30 Jan 2009 15:05:56 -0600

2009 is off to a great start! The ski area has had a lot of traffic and our office has been quite busy during what is typically a slower part of the year. One thing that I believe is really just starting to help our economy is how low interest rates are. I’m looking at refinancing and I should be able to get around 4.5-4.7% which will save me well over $200 a month!

Housing prediction–First off it would absolutely rock to have a crystal ball that told me everything, however the following is my best assumption of what the next year or so may have in store for us. I think that for the next few months we’ll see the Sunapee area real estate market continue to drop a bit lower but eventually start leveling out this summer and then staying level for much of 2010. As far the drop goes, I can’t see it being much more if even 2%.

Below is a chart with data for residential sales in the Sunapee Region. Compared to my previous posts, I have added the towns of Salisbury and Danbury which brings the total towns to 18.

For additional information on sales in the Lake Sunapee region please click through to my blog at http://sunapeeregionblog.com/2009/01/15/2008-year-in-review/

Source:
SunapeeRegionBlog.com

December 2008 Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Thu, 15 Jan 2009 10:24:32 -0600

Happy New Year! Hard to believe it’s already here. I will be brief this time around as I will be posting a year in review entry with all sorts of info looking back at historical sales, charts, graphs, etc. I’m even going to make a few predictions for what the future holds! Below is my typical run down of monthly sales. As you will see, this December actually had more sales than the previous 2 years. Rather nice to end the year with some slightly positive stats.

Historical Sales For Our 16 Local Towns
January 2006-23 Sales
January 2007-29 Sales
January 2008-27 Sales
February 2006-26 Sales
February 2007-30 Sales
February 2008-25 Sales
March 2006-35 Sales
March 2007-38 Sales
March 2008-17 Sales
April 2006-46 Sales
April 2007-28 Sales
April 2008-21 Sales
May 2006-56 Sales
May 2007-53 Sales
May 2008-34 Sales
June 2006-59 Sales
June 2007-46 Sales
June 2008-30 Sales
July 2006-48 Sales
July 2007-43 Sales
July 2008-40 Sales
August 2006-51 Sales
August 2007-54 Sales
August 2008-34 Sales
September 2006-43 Sales
September 2007-47 Sales
September 2008-36 Sales
October 2006-49 Sales
October 2007-59 Sales
October 2008-47 Sales
November 2006-50 Sales
November 2007-46 Sales
November 2008-24 Sales
December 2006-31 Sales
December 2007-31 Sales
December 2008-37 Sales

17 listings went pending this December

Andover NH

$52,000- 19 Franklin Highway, Andover NH
$240,000- 108 West Shore Drive, Andover NH

Bradford NH

$200,000- 51 Blaisdell Lake Rd, Bradford NH
$295,000- 2808 West Shore Drive, Bradford NH

Goshen NH

$120,000- 1648 Brook Rd, Goshen NH
$820,000- 2407 Brook Rd, Goshen NH

Grantham NH

$126,000- 363 Route 114, Grantham NH
$170,000- 3 Beaver Fells, Grantham NH

New London NH

$372,500- 217 Tracy Rd, New London NH
$1,205,000- 88 Stonehouse Rd, New London NH
$2,950,000- 836 Route 103A, New London NH

Newbury NH

$204,500- 287 Old Post Rd, Newbury NH
$229,900- 97 South Rd, Newbury NH
$357,500- 63 Newell Rd, Newbury NH

Newport NH

$30,000- 43 Laurel St, Newport NH
$40,000- 283 Unity Rd, Newport NH
$64,900- 33 Maple, Newport NH
$85,000- 15 Parkview, Newport NH
$138,000- 108 Beech St, Newport NH
$155,000- 210 Cornish Turnpike, Newport NH
$215,000- 723 Bradford Rd, Newport NH

Springfield NH

$110,000- 696 Georges Mills Rd, Springfield NH
$186,000- 160 Philbrick Hill Rd, Springfield NH
$250,000- 191 Four Corners Rd, Springfield NH

Sunapee NH

$174,900- 114 Sargent Rd, Sunapee NH
$204,950- 96 North Rd, Sunapee NH
$257,500- 127 Prospect Hill Rd, Sunapee NH
$655,500- 481 Stagecoach Rd, Sunapee NH
$1,275,001- 95 Fernwood Point, Sunapee NH

Sutton NH

$220,000- 1491 Route 114, Sutton NH
$270,000- 284 Newbury Rd, Sutton NH
$279,000- 15 Poor Farm Rd, Sutton NH
$287,000- 514 Baker Hill Rd, Sutton NH
$520,000- 82 Keyser St, Sutton NH

Warner NH

$90,000- 61 West Roby District Rd, Warner NH
$215,000-28 West Main St, Warner NH
$344,500-103 West Roby District Rd, Warner NH

Washington NH

$160,000- 104 Ashuelot Acre Rd, Washington NH
$212,000- 856 Washington Dr, Washington NH

There were no sales in December for the following towns:

Croydon NH, Lempster NH, Unity NH, Wilmot NH

Source:

SunapeeRegionBlog.com

Ice Storm-Local communities connecting through social media in a time of crisis!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Mon, 29 Dec 2008 06:36:31 -0600

I'm sure many of you have felt the affects or know someone who has been affected by the recent ice storm. As we all know technology has completely changed the way we communicate and follow the news. Some companies have embraced this change and others are slowly starting to pick it up. I was very impressed by PSNH & WMUR with their twitter updates and the Union Leader with their blog about the progress of restoring power throughout NH. We are truly in a world of instant communication and in times of crisis it is awesome at how well information can be distributed to those in need.

I lost power for 5days and I just want to give a quick thank you to all the power company employees who have worked around the clock to restore power throughout our state. I also want to thank their families for being so understanding of the pivotal role these people have played in helping NH.

The links below will take you to pictures posted by PSNH, their RSS feed, and their twitter page.

PSNH Flickr-Photo taken by Geoff Forester in Londonderry

PSNH Flickr-Photo taken by Geoff Forester in Manchester

Source:

www.SunapeeRegionBlog.com

Satisfy your neighborhood curiosity with a bird’s eye view!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Mon, 15 Dec 2008 11:45:07 -0600

When searching for property it is always best to do some homework before requesting a showing from your Realtor. Even though gas prices have come down, it is still very expensive to drive by every single property that might be a match for your needs. I am a very "Google" focused person-meaning google email, google search, chat, google docs, customized iGoogle page, and of course their map program. I recently checked out www.map.live.com and discovered that they have this amazing "bird's eye" view. One of the best features is the ability to rotate the view around the property of interest. As you will see in the images below I am able to spin 360 degrees around this listing of mine on Seamans Rd in New London .

Bird's Eye View Tool Bar

Map.live.com

Here is a listing of mine on http://maps.live.com/ which is a Microsoft Virtual Earth product.

173 Seamans Rd New London $495,000

From the road

Looking at the garage side of the house

Looking at the back of the side of the house

Looking at the side of the house

I think that this is just an awesome feature to have on a quick map program and I hope you find it useful as well!

Source:
www.SunapeeRegiongBlog.com

November 2008 Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Mon, 08 Dec 2008 06:32:28 -0600

Man oh man is the world getting crazy! I did a quick scan of my igoogle news today and it looks like pirates are running rampant attacking cruise liners! Apparently there's going to be a Nuclear Attack at some point in the next few years, and surprise surprise, the U.S is in a recession! With all this negative news I sure am glad ski season is here. It's absolutely the best way to get away from it all and make some good turns on the slopes. At the moment Mount Sunapee is open with 15 trails and 5 lifts on 18" to 24" base. I've heard that the mountain already has had an immense number of season pass holders and registrations for the various ski programs. I think that this is a great sign that people are staying local and enjoying amenities that are a reasonable drive instead of flying.

32 listings went pending this November

Andover NH

$38,000- 12 Morrill Hill Rd, Andover NH
$100,000- 44 Morrill Rd, Andover NH

Bradford NH

$124,900- 888 West Rd, Bradford NH
$210,000- 351 West Rd, Bradford NH
$485,000- 37 High St, Bradford NH

Grantham NH

$154,900- 26 High Pond Rd, Grantham NH
$440,000- 4 Bunker Drive, Grantham NH

Lempster NH

$180,000- 25 Blue Heron Drive, Lempster NH

New London NH

$450,000- 82 Knights Hill Rd, New London NH
$1,075,000- 1801 Little Sunapee Rd, New London NH

Newbury NH

$195,000- 31 Route 103B, Newbury NH
$198,000- 163 Cheney Rd, Newbury NH
$432,000- 26 Allwood Drive, Newbury NH
$899,000- 3 South Rd, Newbury NH

Newport NH

$129,900- 390 Bradford Rd, Newport NH
$190,000- 25 Summit Rd, Newport NH

Springfield NH

$87,000- 288 New London Rd, Springfield NH
$240,000- 319 Grantham Rd, Springfield NH

Sunapee NH

$417,500- 20 Burma Rd, Sunapee NH

Warner NH

$90,000- 61 West Roby District Rd, Warner NH
$215,000-28 West Main St, Warner NH
$344,500-103 West Roby District Rd, Warner NH

Washington NH

$160,000- 104 Ashuelot Acre Rd, Washington NH
$212,000- 856 Washington Dr, Washington NH

There were no sales in November for the following towns:

Croydon NH, Goshen NH, Unity NH, Wilmot NH

Source:

SunapeeRegionBlog.com

Major Expansion! Interview with New London Hospital CEO Bruce King

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Wed, 03 Dec 2008 10:22:48 -0600

I've had the opportunity to meet with Bruce on many different occasions. The one thing that really stands out about him is his easy going nature and the fact that he will make time to meet with anyone who would like to learn more about what is happening at the New London Hospital.

With the the major expansion of the hospital space, I decided to interview Bruce and try to get a quick snap shot on the affects of the new hospital space and what that means for everyone in the community.

Due to the expansion are hospital rates/fees increasing?

Each year during the NLHA budgeting process, our team reviews the cost of medical services for comparable size hospitals in our region and projects our own costs based on clinical personnel, equipment and materials for our service area. Any cost increase for medical services is then factored into the budgeting process. When we applied for our Certificate of Need for the Building Towards the Future (BTTF) project, a process required by the state, we stated that we would not increase our charges due to the project.

What new services may be coming to the hospital as a result of the project?

We are constantly looking at opportunities to add clinical services for which there is a community need. Over the past several years we have added our Coumadin Program, the Sleep Disorders Center, Neurosurgery and Pain Management to name a few. Our new building and Specialty Services area gives us the flexibility to grow existing services and the potential to add new ones. We intend to expand our oncology services in collaboration with the Norris Cotton Cancer Center and increase our cardiology services. In addition, our Sleep Disorders Center will double its space.With increased space for leased tenants, we will definitely see the expansion of the orthopaedic services offered by Concord Orthopaedics, enlarge the space for urology and podiatry services, and we will continue to explore new partnerships with DHMC and Concord Hospital, as well as other individual specialty practices.

Is pediatric care returning to the campus?

Yes, our pediatric services, in collaboration with Children's Hospital at Dartmouth (ChaD) will be returning to the main campus from Georges Mills in the late spring. It will be located in newly renovated space in what is currently the rear of the medical office building at 249 County Road. One of the main goals of the BTTF project has always been to reunite the main campus by returning the pediatric practice to the renovated building and moving our rehabilitative services from the Stahlman Building on Pleasant Street into the new attached building.

With this expansion, how many new jobs will be created?

We anticipate adding a small number of staff in maintenance to accommodate the additional 46,000 square feet we are adding to the hospital. We are moving all the staff from the current medical office building into the new building in order to provide our primary care and specialty services.

What is going to happen to the current medical office building?

The front portion of the medical office building located at 249 County Road will be razed early this winter. This building is over 40 years old and was declared functionally obsolete by a facilities study NLH undertook in 2006. The space created by the razing will become additional parking. The rear portion of the current medical office building is about 18 years old and will be renovated to accommodate our pediatric practice on the ground floor; Gregory Barban, MD will continue to operate his practice on the second floor; and the third floor will be dedicated to administrative space. In addition, the G. William and Tina Helm Conference Room will be created in space on the second floor.

What was the original goal with the BTTF expansion?

The goals today remain the same as the original ones proposed in 2006 and embodied in our Certificate of Need and project planning. The main attributes of the project are: improve access to clinical services by building a new space for providers and services; expand space for specialty clinical services; create all private inpatient rooms; and unite the campus.

What is the expected completion date of the BTTF project?

The completion date for all phases of the project is anticipated to be June 2009.

Where do you see New London Hospital in ten years?

New London Hospital (NLH) occupies a unique place as a rural, community hospital in that it sits exactly midway between two large tertiary care centers. This gives the hospital the distinct advantage of collaborations with these two medical centers and the ability to seamlessly transfer patients as needed to an institution with advanced medical care. This geographic distinction also provides NLH with the opportunity to provide our service area with both primary and secondary medical services in a smaller, closer environment that allows patients to be seen and treated without lengthy travel or long waits often associated with larger medical facilities.

With the advent of electronic medical records, digital radiography, advanced laboratory techniques, and new mobile technologies, patients can see a provider in New London and all their clinical records can be quickly transferred to any specialist at any institution for diagnosis without the patient needing to travel. NLH will also continue to grow as an outpatient facility with same day surgery as an important component. With our array of surgical services from general surgery to orthopaedics to neurosurgery to pain management, NLH will provide same day procedures to patients who can then return safely to their homes, knowing that their provider and any required medical services are only a short distance away.

As new medical treatments are introduced in the next ten years, NLH is well positioned to take advantage of these advances through our many clinical collaborations with a teaching and research institution. Most importantly, NLH will continue the tradition of medical care in our community, ensuring that we meet the healthcare needs of our community and remain a close, quality-driven hospital where patients are respected and have access to experienced clinicians.

Source:

http://sunapeeregionblog.com

October 2008 Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Mon, 10 Nov 2008 12:54:09 -0600

If you follow all the latest the headlines, you probably feel like you should be living in a cave hoarding what money you have and waiting for the economic chaos to blow over! I meet people on a daily basis and when they find out I’m in Real Estate, I constantly get this response “Whoa, how are you doing?” Tons of genuine concern on their face. I can understand and appreciate their concern, but contrary to popular belief, not everyone is closing up shop. Properties are still selling and people are still buying. Also, there are some fantastic deals out there and I think that our section of NH is very close to the “bottom” of the decline.

Now that we have a new president (regardless of political views), I think it will help inspire more consumer confidence and start pulling us out of our economic black hole. It won’t happen over night but if we all focus on investing in our local communities, I think we’ll be well on our way.

29 listings went pending this October

Andover NH

$125,000- 28 Boston Hill Rd, Andover NH
$268,000- 406 Main St, Andover NH
$530,000- 109 Maple St, Andover NH

Bradford NH

$50,000- 24 Greenhouse Lane, Bradford NH
$141,500- 2611 Rt 103, Bradford NH
$188,500- 36 Oakdale Rd, Bradford NH
$215,000- 105 Sunset Hill Rd, Bradford NH
$255,000- 15 Center Rd, Bradford NH
$515,000- 3 Old Fairgrounds Rd, Bradford NH

Goshen NH

$140,000- 1803 Brook Rd, Goshen NH
$146,900- 526 Center Rd, Goshen NH
$168,750- 580 Rand Pond Rd, Goshen NH

Grantham NH

$250,000- 133 Stocker Pond Rd, Grantham NH
$273,000- 8 Nightingale Lane, Grantham NH
$480,000- 71 Greensward Drive, Grantham NH
$500,000- 22 Summit, Grantham NH

Lempster NH

$155,000- 57 South Hill Drive

New London NH

$129,900- 46 Wilmot Center Rd, New London NH

Newbury NH

$140,000- 60 Mt. Rd, Newbury NH
$165,000- 34 Steves Rd, Newbury NH
$295,000- 343 Bowles Rd, Newbury NH

Newport NH

$46,300- 687 John Stark Highway, Newport NH
$92,000- 19 Popple Way, Newport NH
$173,500- 18 Breakneck, Newport NH
$307,000- 679 Bradford, Newport NH

Springfield NH

$173,000- 7 Spring Glen, Springfield NH
$348,000- 145 Colby Hill Rd, Springfield NH
$412,000- 282 Bowman Rd, Springfield NH

Sunapee NH

$218,000- 42 Maurer Lane, Sunapee NH
$407,500- 1 Fox Rd, Sunapee NH
$592,000- 89 Ryder Corner Rd, Sunapee NH
$754,000- 11 Great Island, Sunapee NH
1,440,000- 542 Jobs Creek Rd, Sunapee NH

Unity NH

$139,900- 176 2nd NH Turnpike, Unity NH

Warner NH

$178,500- 75 Kearsarge Mountain Rd, Warner NH
$202,000-18 Pine Lane, Warner NH
$227,900-145 Waterloo Street, Warner NH
$324,900- 99 Mason Hill, Warner NH
$425,000- 454 Newmarket Rd, Warner NH
$450,000- 120 Willaby Colby, Warner NH

Washington NH

$85,000- 42 Ashuelot Acres Rd, Washington NH
$125,000- 49 Jefferson Drive, Washington NH
$145,000- 229 Lincoln Drive, Washington NH
$600,000- 549 Long Pond Rd, Washington NH

Wilmot NH

$215,000- 60 Campground Rd, Wilmot NH
$300,000- 29 Mountain View Acres Rd, Wilmot NH
$450,000- 102 Grace Rd, Wilmot NH

There were no sales in October for the following towns:

Croydon

Source:

Sunapee Region Blog

What's really happening at the bank!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 04 Nov 2008 07:19:04 -0600

In these uncertain financial times, I thought it would great to ask a few of my favorite local lenders some questions about the loan process and what they are seeing.

100% Financing a thing of the past?

Elizabeth Dabrowski (Sugar River Bank) -
While it is true that programs like FHA and VA have tightened up some loan criteria in recent months, that does not mean qualified borrowers must supply the full 20% conventional down payment. SRB offers a range of down payment options, each tailored for a customer’s particular needs.

Cathy Murray (Ledyard Bank) -
Not true! 100% financing is available through a program with the US Department of Agriculture for rural and small community home sites, called Rural Development. This program is NOT limited to first time homebuyers. Eligible properties are single family primary residences located in communities of less than 20,000 in population or in unincorporated county areas. There are income restrictions for this program. I am happy to provide more information on this program for anyone who is interested. You may also visit www.rurdev.usda.gov.

New Hampshire Housing Finance Authority (NHHFA) has a program for first time homebuyers that requires as little as 1% of the borrowers own funds. This is their Cash Assistance program that grants 4% of the loan amount to the borrower to use for down payment and closing costs. This is a maximum 97% loan to value. There are income restrictions for this program, call me for details on this program. Also visit www.nhhfa.org for more information.

Lynne Haney (Chase Home Lending) -
100% financing is still available through Rural Housing and VA loan programs. These programs have been around for years and both offer reasonable rates and fees so to ensure affordability for the borrower(s). Sellers are allowed to contribute to pay for all the closing costs, so a borrower can come to the closing table with no money! Also, the qualification requirements are more flexible than many of the programs being offered today.

What are the most popular lending programs that you are seeing?

Elizabeth Dabrowski (Sugar River Bank) -
Right now I have a flood of customers jumping into our 7/1 ARM. It offers a super low rate, caps to control future adjustments, and features which help SRB borrowers save money when rates drop in the future. One option is our “Program Change.” This allows a customer to get a new lower rate without having to do a full refinance, and it prevents the customer from starting a whole new term. At the time of application my borrowers set their payment goals, and I help them establish a plan where their income works best for them. Sometimes this means putting their mortgage into Bi-weekly payments for a faster payoff, sometimes it means doing monthly payments with yearly principal reductions where we recalculate their monthly payment based on the new lower loan amount. With an SRB mortgage there are no pre-payment fees or penalties, so our borrowers are free to plan their future on their terms.

Cathy Murray (Ledyard Bank) -
As of October 15^th, 2008 65% of the loans I have been involved with have been adjustable rate mortgages (ARMS). This may surprise some due to the bad publicity ARMS have been receiving by the press. Borrowers want to take advantage of the low initial interest rates these products offer. For example Ledyard National Bank’s 3/1 ARM rate today (10-16-08) is 5.000%, this rate is locked in for the first three years, the interest rate may adjust every year thereafter. On each interest rate change date, the interest rate cannot increase or decrease by more than 2.000% from the interest in effect prior to the change date. There is also a life of the loan cap of 6.000%. These are good products for borrowers who may be thinking of selling or paying their homes off in the next 36 months.

Ledyard National Bank has a variety of mortgage programs to suit the various needs of our borrowers: Fixed rates, ARMS, Home Equity Lines of Credits and Home Equity Loans etc. As I mentioned previously we also work with national and regional programs to be sure to meet everyone’s financing needs.

Lynne Haney (Chase Home Lending) -
FHA is the most popular program being offered today. The program offers flexible terms to qualify such as allowing 97% financing (the down payment can be a gift from a family member), up to 6% seller contributions, no income limits, no first time home buyer requirements, no pricing adjustments for lower credit scores and the ability to have a cosigner to help borrower(s) qualify for the mortgage.

Lender’s View-Biggest issues that happen through the transaction?

Elizabeth Dabrowski (Sugar River Bank) -
The most common issues that come up during the loan process can often be solved at the time of application. Borrowers often fail to complete parts of the information needed or neglect to provide full documentation when needed. This can add days to weeks to the process needlessly. I tell SRB customers ‘the only stupid question is the one you do not ask.’ Get the answers you need and don’t feel that a mortgage need be a burden. I contact my SRB customers and review all aspects of the application before it goes to approval. Keep in mind your lender works for you. By keeping them informed you can avert a majority of problems that may crop up the week before closing. Here is my rule of thumb; If your lender contacts you- call them back as soon as you can. The other key to a smooth transaction is to keep your Realtor informed. Realtors are the linchpin of every deal and they have much to handle. The more your Realtor knows what you want and how you plan to negotiate terms with the seller the easier it will be for them to get the correct info to your lender. The good news about using local lenders and Realtors is that they already know the area and can usually smooth out any bumps in the road quickly and easily.

Cathy Murray (Ledyard Bank) -
The absolute worse thing a borrower can do is hide or misrepresent their financial standing. Be honest and factual with all of the information you provide your lender, then there are no surprises and the loan process should be very smooth. Ledyard National Bank provides our borrowers with a checklist so they know what they need to bring at the time of application. Not providing all of the necessary documents slows the process.

Lynne Haney (Chase Home Lending) -
Quite frequently I get calls from people who are dissatisfied with their current Loan Officer and want to transfer their application to me to help save their deal. These folks have come to realize during the process that they have been misled in some way such as the rate and terms they applied for are not available and also they are not getting the level of service they expected from their Loan Officer. In this market many people are only focused on the rates being offered when choosing a lender when that’s only a small piece of the big picture. I bring to my customers 25 years of lending experience and service levels that always exceed their expectations. It’s important for the applicants to work with a reputable seasoned Loan Officer they can trust and who remains hands on throughout the transaction.

Is your bank going to make it through the week?

Elizabeth Dabrowski (Sugar River Bank) -
First, let me address the capital issue. Right now SRB is currently one of the top capitalized banks in the state. On top of that, we never bought into the sub-prime loan mess either as a matter of loans we offered, or as a get rich quick investment for the bank itself. That makes SRB a unique lender right now: personal service and top mortgage products you can rest easy about having. What can a new borrower expect from us? We own our loans. So we have the power to work with our borrowers when the times get tight. It is in both our interests to see that the borrower stays in their own home. This is not a new fad policy that is the result of recent market conditions. Its how SRB has done things since 1895. I love hearing how the big banks are now catching on to what SRB has been doing all along as a matter of good customer service for our borrowers.

Cathy Murray (Ledyard Bank) -
Make it through the week??? Ledyard National Bank was recently ranked in the Top 200 in US Banker magazine’s list of top-performing community banks. Please visit the Bank’s website at www.ledyardbank.com to view a message to our community from Kathryn Underwood, Ledyard’s President& CEO. We are strong and financially stable!

Lynne Haney (Chase Home Lending) -
Chase has over a 200 year legacy of service and financial integrity and there’s no doubt the company will be around for many more years to come. Chase has been and continues to be featured in a number business articles as coming out on top as the leading lender in this market. I recommend anyone go on the internet and search Chase and they can see a number of articles that highlight the strength of our company. Chase stepped up to the plate and purchased Behr Sterns in April and Washington Mutual last month when both companies were on the verge of bankruptcy. JP Morgan Chase now has over 42% of the deposit base in this country and the mortgage company has a 1.8 trillion dollar servicing portfolio. Chase continues to focus on responsible lending practices and it committed to ensuring our customers both achieve and sustain home ownership.

How many different people work on the loan within your organization? I just dealt with Bank of America and their communication was terrible…lots of he said, she said…

Elizabeth Dabrowski (Sugar River Bank) -
No one likes surprises at the closing table. SRB customers know their originator and loan processor by name. That’s right. Our customers can call the people who handle their loans at any stage in the process and get the answers they want. But guess what, you won’t have to call. I personally provide updates via email or phone as each stage of the loan progresses. My processor also calls her customers and their Realtor every step of the way to keep everyone on the same page.

Cathy Murray (Ledyard Bank) -
Ah yes, dealing with 1-800-Who-Cares is very frustrating. I have two very competent, friendly, always at their desks processors; Lisa and Kristel. In the event that I am meeting with another borrower or out of the office Lisa and Kristel are available to answer any questions regarding loans in process. Underwriting (final loan approval) is done locally - in this state - no 800 numbers to dial! Ultimately the responsibility of any of my borrower’s loan process rests with me. I am accountable and look forward to working with borrowers through out the loan process.

Lynne Haney (Chase Home Lending) -
I am the primary point of contact for my customers throughout the transaction so to keep the process as simple and stress free as possible. I have been working many years as a mortgage lender and understand how to manage the people and the process very effectively. There are many loan officers that are not hands on throughout the process and inevitably given the number of people behind the scenes who are involved in the transaction that lack of involvement can lead to unnecessary problems for the customer.

I just want to say a quick thank you to Elizabeth, Cathy, and Lynne for taking the time to answer my pesky questions! If anyone has any questions, please feel free to comment here or contact any one of these great lenders directly.

Elizabeth Dabrowski
Sugar River Bank
603-477-3865
edabrowski@sugarriverbank.com
www.SugarRiverBank.com

Cathy Murray
Ledyard National Bank
603-526-7725
cathy.murray@ledyardbank.com
www.LedyardBank.com

Lynne Haney
Chase Home Lending
603-491-9253
lynne.a.haney@chase.com
www.LynneHaney.com

Source:
http://sunapeeregionblog.com/2008/10/26/whats-really-happening-at-the-bank/

The New York Times Features New London!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Thu, 23 Oct 2008 06:54:27 -0500

Recently Katie Bacon from the New York Times published a fantastic article on the town of New London. When you are reading the article make sure to click on the slide show on the left hand side...they got some awesome photos of our area.

**update the online article is no longer available with the photos. The link below will take you to the text version of the article

New York Times article on New London

Source:

http://sunapeeregionblog.com/2008/10/18/new-london-in-the-ny-times/

New Hampshire makes the headlines and it’s positive!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 21 Oct 2008 08:40:37 -0500

With all the scary economic news flying around, I think it absolutely rocks when there is some positive news being reported! Today Forbes reported America’s Most & Least Vulnerable Towns to Recession

Least Vulnerable!
#1 Lebanon
#3 Keene
#7 Concord.
This is pretty awesome stuff (sorry to those on the “Most Vulnerable” side).

Also I would just like to take a moment to plug the Sunapee area in that New London is only 24.5 miles from Lebanon and 33.8 miles from Concord. This is probably my favorite part about our location….It’s an easy commute in either direction, so you could live on or next to the many lakes, close to Mount Sunapee (ranked #1 for snow conditions in the east!) and easily drive to work!

Local NH News WMUR also highlighted this article- check it out here.

View From Mt. Sunapee-Winter 08

Source:

http://sunapeeregionblog.com/2008/10/16/new-hampshire-makes-the-headlines-and-its-positive/

Dinner Cruise on MV Kearsarge

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 07 Oct 2008 09:16:34 -0500

This past week I went on an awesome dinner/cocktail cruise on the MV Kearsarge...I think the last time I was on one of the Lake Sunapee cruise boats, I was 10 and my father had gotten "Captain Dave" to let me take the wheel!

The Lake Sunapee Region Chamber of Commerce sponsored the event and provided us with a great relaxing fall cruise. Below is a picture I took just as the sun was setting.

Source:
http://sunapeeregionblog.com/2008/10/02/dinner-cruise-on-mv-kearsarge/

September 2008 Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 07 Oct 2008 09:11:00 -0500

It certainly has been an interesting month with all the bailout news and it's affect on Wall Street, creating insane drops in the stock market...You'd think that everything real estate wise would come to a screeching halt and we'd all be out washing windows for extra $$! Well times are definitely uncertain, but banks are still lending and people are still buying and listing their homes. I have a closing coming up in 2 weeks that is through Bank of America and they've assured us there is nothing to worry about. I've also had a few closings with Sugar River Bank - Elizabeth Dabrowski (loan officer) and they have significant reserves and are able to lend with excellent rates and great programs. So it's not all gloom and doom...Although it does sound like there are some regions out there that are feeling the hit much harder than we are here in New Hampshire.

51 Listing went under agreement this past month

Andover NH

$106,000- Agony Hill Rd, Andover NH
$125,900- 116 Cilleyville Rd, Andover NH
$149,900- 95 Flaghole Rd, Andover NH
$149,999- 11 Applecrest Lane, Andover NH
$210,000- 455 Old College Rd, Andover NH
$220,000- 4 Horsehoe Pond, Andover NH

Bradford NH

$225,000- 75 West Rd, Bradford NH
$230,000- 34 Greenhouse Lane, Bradford NH
$242,500- 61 Woodview Heights, Bradford NH
$310,000- 76 Oakdale Rd, Bradford NH

Croydon NH

$91,000- 72 Camel Hump Rd, Croydon NH

Grantham NH

$270,000- 215 Stocker Pond Rd, Grantham NH
$299,000- 43 Greensward Dr, Grantham NH
$375,000- 60 Fairway Drive, Grantham NH

New London NH

$285,000- 59 Farwell Lane, New London NH
$405,000- 748 County Rd, New London NH
$435,000- 923 Lakeshore Drive, New London NH
$546,000- 64 White Pine Lane, New London NH
$705,000- 221 Lamson Lane, New London NH
$900,000- 135 Old Rte 11, New London NH

Newbury NH

$360,000- 154 South Rd, Newbury NH

Newport NH

$52,000- 210 North Main, Newport NH
$75,000- 19 Fourth, Newport NH
$79,900- 85 Turkey Hill Rd, Newport NH

Sunapee NH

$1,025,000- 33 High Ridge Rd, Sunapee NH
$2,600,000- 312 Jobs Creek Rd, Sunapee NH

Sutton NH

$167,500- 491 Kearsarge Valley Rd, Sutton NH
$211,000- 681 Route 114, Sutton, NH
$379,000- 31 Old Sutton Rd, Sutton NH

Unity NH

$37,500- 238 Unity Stage Road, Unity NH

Warner NH

$165,000- 270 Kearsarge Mountain Rd, Warner NH
$195,000- 75 Kearsarge Mountain Rd, Warner NH

Washington NH

$200,000- 989 Lempster Mountain Rd, Washington NH
$249,000- 1883 Valley Rd, Washington NH

Wilmot NH

$165,000- 5 Route 11, Wilmot NH
$175,000- 120 Quaker Path, Wilmot NH
$390,000- 257 Kearsarge Valley Rd, Wilmot NH

There were no sales in September for the following towns:

Goshen, Lempster, Springfield

Source:

http://sunapeeregionblog.com/2008/10/01/september-2008-sales/

August 2008 Sales

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 09 Sep 2008 12:45:41 -0500

Hard to imagine another month has flown by and we'll be stepping into Fall before we know it....Ok, here's the down and dirty on the past month.....looks like we're back to being 20 some odd sales behind previous years at this time frame. Although 57 listings went under agreement this past month and as usual, the office has been extremely busy. Recently I was setting up a full day of showings and 3 of the listings went under agreement before we even got a chance to see them! Also the weather has been absolutely fantastic so I think more people are making the drive up here to experience all the awesome outdoor activities we have in our area.

On a side, note, if you didn't already know, we have recently move to a new location! We are in the "Kidder" building on 11 Pleasant Street, New London adjacent to Artisans and across from Lake Sunapee Bank on Main Street.

Historical Sales For Our 16 Local Towns
January 2006—23 Sales
January 2007—29 Sales
January 2008—27 Sales
February 2006—26 Sales
February 2007—30 Sales
February 2008—25 Sales
March 2006—35 Sales
March 2007—38 Sales
March 2008—17 Sales
April 2006—46 Sales
April 2007—28 Sales
April 2008—21 Sales
May 2006—56 Sales
May 2007—53 Sales
May 2008—34 Sales
June 2006—59 Sales
June 2007—46 Sales
June 2008—30 Sales
July 2006—48 Sales
July 2007—43 Sales
July 2008—40 Sales
August 2006-51 Sales
August 2007-54 Sales
August 2008-34 Sales

57 Listing went under agreement this past month

Andover NH

$179,000- 45 Currier Rd, Andover NH
$345,000- 661 Raccon Hill Rd, Andover NH

Grantham NH

$40,000-46 Tall Timber, Grantham NH
$250,000-1 Turnbuckle, Grantham NH
$258,000-7 Troon Drive, Grantham NH
$275,000-83 Woodland Heights, Grantham NH

New London NH

$229,000-173 Parkside Rd, New London NH
$330,000-81 Seamans Rd, New London NH
$435,000-923 Lakeshore Drive, New London NH
$470,000-173 Quail Run, New London NH
$630,000-253 Woodland Trace, New London NH

Newbury NH

$179,900-73 Ramblewood Circle, Newbury NH
$200,000-910 Route 103, Newbury NH
$303,120-644 Chalk Pond Rd, Newbury NH
$395,000-32 Shore Drive, Newbury NH
$410,000-47 Washington Street, Newbury NH

Newport NH

$95,000-17 Woodland, Newport NH
$124,900-11 Pine Tree Rd, Newport NH
$150,000-16 Laurel Street, Newport NH
$341,000-14 Sunset Vista Way, Newport NH

Sunapee NH

$206,750-8 Lawton Rd, Sunapee NH
$271,900-20 Orchard Circle, Sunapee NH
$425,000-26 New Province Rd, Sunapee NH
$1,900,000-8 Norcross Rd, Sunapee NH

Sutton NH

$248,000-486 Shaker Street, Sutton NH
$281,000-30 Barker Rd, Sutton, NH

Unity NH

$275,000-83 Quaker City Rd, Unity nH

Warner NH

$135,000-53 Iron Kettle, Warner NH
$142,000-75 Kearsarge Mountain Rd, Warner NH
$240,000-138 Iron Kettle Rd, Warner NH
$390,000-88 West Main Street, Warner NH

Washington NH

$199,900-111 Lincoln, Washington NH

Wilmot NH

$259,000-304 Kearsarge Valley Rd, Wilmot NH
$475,000-77 Quiet Cove Way, Wilmot NH

There were no sales in August for the following towns:

Bradford, Croydon, Goshen, Lempster, Springfield

Source:

http://sunapeeregionblog.com/2008/09/03/august-2008-sales-sunapee-region/

You sold your land for what?@$%&!

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Sun, 07 Sep 2008 09:19:05 -0500

As we are fast approaching Fall, I thought it would be good to do a quick run down on what has sold for land year-to-date in the 16 towns that make up the Sunapee Region. As you will see below I have compared it to previous years and provided sale price, acreage and location information for what has sold this year. The chart I put together is great as you can see how the average sales price has more than doubled in the past 7years. Also the transaction count has has gone down significantly which I believe is part because of our current "exciting" economy and the development of the area.

Andover NH

$100,000--14.5acres on Beech Hill Rd, Andover NH

Bradford NH

$57,000--8.13acres Lot 4 Dunfield Rd, Bradford NH
$89,000--54acres on Tuttle Rd, Bradford NH

Goshen NH

$85,000--137.1acres on Mountain Rd, Goshen NH
$105,000--44.4arces on Center Rd, Goshen NH

Grantham NH

$7,000--0.94acres at 44 Brookridge Drive, Grantham NH
$15,000--0.43acres at 6 Whip-Poor-Will, Grantham NH
$26,000--0.92acres on Stocker Pond Rd, Grantham NH
$38,500--2.03acres at 15 Bright Slope Way, Grantham NH
$40,000--0.85acres at 65 Longwood, Grantham NH
$57,000--5.08acres on New Aldrich, Grantham NH
$74,000--8.2acres on Walker Rd, Grantham NH
$85,000--6.91acres at 912 Dunbar Hill Rd, Grantham NH
$90,000--8.99acres on Walker Rd, Grantham NH

Lempster NH

$35,200--5acres on Nichols Rd/Manor Rd, Lempster NH
$50,000--34.5acres at Dodge Hollow Rd, Lempster NH

New London NH

$115,000--2.8acres on Hall Farm Rd, New London NH
$125,000--0.77acres at Lot 4 Todd Farm, New London NH
$132,500--4.22acres on Whitney Brook Rd, New London NH
$155,000--15.18acres on Baker Rd, New London NH
$175,000--3.51acres at Little Sunapee Rd, New London NH
$230,000--0.14acres at 1539 Little Sunapee Rd, New London NH

Newbury NH

$37,000--0.15acres at 26 Perry Court, Newbury NH
$51,000--2.7acres on Winding Brook Rd, Newbury NH
$55,000--2.07acres on Chalk Pond R, Newbury NH
$62,500--6.1acres on South Rd, Newbury NH

Newport NH

$33,000--2.09acres at Rowell Rd, Newport NH
$34,500--1.95acres Rowell Rd, Newport NH
$45,000--11.05acres on Pine Rd, Newport NH
$49,900--2.17acres at 340 Maple St, Newport NH
$122,000--72acres Langley Rd, Newport NH

Springfield, NH

$40,000--4.3acres Stoney Brook Rd, Springfield NH
$57,000--8.2acres on Hazzard Rd, Springfield NH
$69,000--5.2acres Hogg Hill, Springfield NH
$115,000--12acres Sanborn Hill Ext, Springfield NH
$129,000--16.5acres 323 Grantham Rd, Springfield NH

Sunapee, NH

$200,000--5acres at 1106 Route 11, Sunapee NH
$290,000--15.1acres at 207 Timmothy Rd, Sunapee NH
$340,000--10.15acres at 12 Granite Ridge Rd, Sunapee NH

Sutton NH

$35,000--2acres on Pond Rd, Sutton NH
$50,000--7.39acres on Rowell Hill Rd, Sutton NH
$79,000--12.87acres on Shaker St, Sutton NH
$115,000--7.48acres on Shaker St, Sutton NH
$145,000--21.5acres on Shaker Rd, Sutton NH
$290,000--110acres on Fox Chase Rd, Sutton NH

Warner NH

$5,000--Route 103 Melvin Mills Rd, Warner NH
$70,000--48acres on Route 103, Warner NH

Washington NH

$33,500--10acres on Twin Bridge Rd, Washington NH
$35,000--9.49acres at 186 Beaver Brook Drive, Washington NH
$35,500--1.69acres at 242 McKinley Drive, Washington NH
$154,900--2acres on Beaver Brook, Washington NH

Wilmot NH

$66,000--2acres at Lot 2 Campground Rd, Wilmot NH
$66,000--3.52arces at Lot 1 Campground Rd, Wilmot NH
$90,000--3.1acres at Deerwood, Wilmot NH

Source:
http://sunapeeregionblog.com/2008/08/27/you-sold-your-land-for-what/

Incredible value! 55+ Acres, Views of Mt. Kearsarge & White Mountains

Dan O'Halloran Lake Sunapee Real Estate (Colby Real Estate) — Tue, 02 Sep 2008 19:42:44 -0500