Selling your home during the holidays...

Sellers often ask whether it is a good idea to try to sell their home during the holiday season or if it is better to wait until January. Obviously, trying to sell your home during the holiday season can place some additional stress on an already busy schedule. However, the buyers that are out looking this time of year are serious buyers and one thing is for sure: you can't sell your home if it is not listed. Over the past six years in the communities listed in this report there was an average of 43 homes that went pending in the month of December. This may be down from the 59 sales per month average we have had over the past twelve months, but I would bet that those sellers that did find buyers in December were pretty happy with their holiday gift.

Homes often look their very best when they are decorated for the holiday, so it can be the perfect time of the year to have a prospective buyer look at your home. But there are some things to remember. Make sure your walkway is cleared and sanded and that the entrance to your home is decorated conservatively with a nice wreath and maybe a string or two of lights rather than having it look like Chevy Chase's house in "Christmas Vacation". If global warming doesn't get us this year, an old fashioned snowman would be a nice touch. Put out a colorful Christmas door mat so that visitors can wipe the snow off their feet before entering your home.

Make sure the inside of your home is at its holiday best and spotless. Go conservative on the decorations inside as well. Pick out a smaller tree than you normally get and remove some of the furniture if necessary to make your living room look larger. Instead of putting a lot of presents under the tree, just put a few (yes I know, this year we'll be lucky to have anything under the tree anyway!) and hide the rest away in a closet. Don't overdue the decorations to the point that they cover up the important details of your home. We want the buyer to be looking at the house, not the fifty piece Snow Village or a dozen Anna Lee Christmas characters perched precariously on the mantel. Less is more here. Be charming, not tacky.

Lighting the fireplace will help show how warm and cozy your home is during this time of year. Put on some great Christmas songs like Bing Crosby's "I'm Dreaming of a White Christmas" or "Feliz Navidad". Playing "Grandma Got Run over By a Reindeer" or ‘Snoopy's Christmas" won't create exactly the mood we are looking for. You should also appeal to the buyer's sense of smell so baking (not burning) some cookies or brownies before the showing will do the trick. Leaving some fresh baked treats out for the buyers (and their agent) along with maybe some Egg Nog is a nice gesture and it might help seal the deal . (I like mine spiked just a little-that could even work on the buyers). The whole point is to show off your home at its holiday best. Creating a festive, warm and appealing feeling will make buyers feel that this just could be the home where they would like to spend the next holiday season.

The total number of residential homes available in the towns included in this marker report as of December 1 stood at 1004 which represents about 17.5 months worth of inventory. That is way more than Santa can haul around in his sleigh! But at least the inventory level is headed in the right direction as this total is down from the 1100 homes on the market last December as well as down from November's total of 1146. Maybe Santa will help us out by bringing a few more buyers to the Lakes Region this Christmas. Have you done your Christmas wish list yet??

Stats compiled from the NNEREN MLS system.

Sign of the times...

There was an article in our local newspaper about a proposed sign ordinance in the Town of Gilford of NH that could possibly eliminate the placement of real estate directional signs on street corners Being a REALTOR©, it made me think a bit.

Just about every REALTOR© in the world uses directional signs when needed or when the sellers want them. But I wondered whether these signs really help to sell a home in this market or if the colorful, clashing, and tacky menagerie of signs on many of the street corners makes the market look worse than it already is? Because the proliferation of directional signs has gotten so out of hand, it is quite possible in the upcoming Gilford election season, that some agents' self promotional riders could be construed as a political campaign and they could find themselves elected to local office through an unsolicited write-in campaign.

I suppose these signs might help attract a few wayward buyers to the home of their dreams, but focusing on better ways to get buyers to our clients' homes might work better.. With the explosion of information on the internet, cell phones, and other handheld devices, the real estate world has evolved dramatically over the last decade and will no doubt continue to change. This change may not be as fast as Microsoft can come out with new versions of Windows, but it is going to evolve quickly because the buyers themselves and the way they shop are changing. Therefore, the way homes are marketed must change to be successful.

It is not that some of the old tried and true methods don't still work, or that agents shouldn't continue to do certain old school things, it may be just that some other approaches will work better with the new breed of buyers that are out there today. Buyers today just don't come in off the street into the real estate offices to start their home search like they used to. The National Association of Realtors© says that 87% of today's buyers use the internet in their home buying search. Most of today's home buyers narrow down their choices to a select few (maybe the wrong few-but they narrow them down anyway) and then, according to NAR 77% of the buyers jump in a car and drive by the home to check them out. They already have the address and they usually have a Google Map or directions that were provided on-line. They are pretty savvy buyers and are often equipped with a GPS so they can drive right to the doorstep assisted by that little guy or gal inside the box that speaks to you like C3PO in Star Wars. NAR also says that 85% use a real estate agent as an information source. I'm hoping the agent also knows how to get to the house.

So perhaps directional signs on street corners aren't all that necessary. I would bet there are fewer and fewer people these days driving aimlessly through an area looking for homes to buy without knowing where they are going first. When gas hits $4.00 a gallon again (and you know it will) you can be assured there won't be any unnecessary wandering about. Over the past year there were 81 residential homes sold in Gilford and 78 homes sold in Moultonborough. You'd be hard pressed to find a directional sign in Moultonborough and those that are placed can only be generic sign stating "Real Estate For Sale" with an arrow. Seems like these sales numbers show that this approach works just as well and it doesn't make it look like every home in town must be for sale.

While there is the chance that a buyer will suddenly change course because of a directional sign and go see what's for sale somewhere down this side street or that, to me the better place to put a directional sign is on the internet highway. On the internet you can put as many virtual directional signs as you want and you can put as much info on them as you could on a huge road side bill board. These virtual directional signs can be dedicated listing web sites, web pages, links in blogs, and paid or free advertising all directing buyers to view a certain property. The idea is to direct as many potential buyers as possible to see a property in the virtual world thereby enticing some to come and see it in the real world. To make it even easier, all the listings on the internet including detailed information, pictures, and maps can be put right in the palm of a buyer's hand on a smart phone to carry with him wherever he goes. Doesn't that sound better that a rusty old directional sign?

Finally, the best method of getting buyers to a home, the one method that has been proven to work time and time again, is to price the home so that it is an absolute great deal. That home will be found every time even without the signs...

Nice Houses, Nice Deals...

Whether you are looking for a primary or a vacation home in the Lakes Region of NH there are some really nice properties available right now at very affordable prices. Here are a few properties that appear to priced well and that would definitely be worth looking at if you are in the market for a new home:

The home at 26 Colby Court in Laconia is really as nice as they come. This two bedroom, two and a half bath, cape was built in 2005 and shows pride of ownership throughout. It has beautiful wood and tile floors, a charming eat-in kitchen, a large master suite, first floor laundry, one car garage, trex deck, and a nice patio area in the back yard. This home would be perfect as a starter or retirement home and would also appeal to a young professional couple. It is priced at $209,000 which is 85% of the current tax assessment of $245,300.

 

Another nice property at a really great price is a brand new vacation home at 2 Locarno Street in the Suissevale Association in Moultonborough. This two bedroom home has a bright and open floor plan with lots of windows, cherry hardwood and tile floors, cathedral ceilings, gas fireplace in the living room, a nice deck, a tiled mud room, and bonus family room in the walk out basement. Suissevale offers a beautiful, 2500' beach, marina, and boat launch just a short distance away. There is also a community club house, tennis courts, and sledding hill for winter fun. This home is currently listed at only $229,000 which is 77% of the current assessed value of $297,300.

The home located at 949 Cherry Valley Road in Gilford has 2,432 square feet of living space, three bedrooms, and two and a half baths. It features an open floor plan with an eat-in kitchen and dining area flowing into the spacious living room with a stone fireplace and cathedral ceilings. There is a first floor master suite, a family room in the walk out basement, and a nice screened porch to enjoy beautiful sunsets over the mountains. This home is priced at $249,900 which is 87% of the current taxed value of $287,130.

 

Over at 95 Waukewan Rd in Center Harbor there is a very nicely remodeled 2,760 square foot, three bedroom ranch on a nice 1.86 acre lot. It is listed at $269,000 which is 86% of the town's assessed value of $311,600. This home features nice hardwood floors, new carpeting, a great kitchen with stainless steel appliances and granite countertops, a first floor master, and a fireplace with stove insert in the living room. In the walkout basement there is a cozy family room with fireplace and an in-law apartment. Outside you'll find a huge deck, a screened in porch, an in-ground pool (with new liner and pump), and even a basket ball court. The owner has done a great job on the renovations and it is definitely one of those homes that you need to get inside to truly appreciate. It is also just down the road from the Waukewan Golf Course.

 Hummm, maybe Tiger Woods is looking for a new place?

Watch this show to see some sure fire ways to get rid of your home in this difficult real estate market!

Visit www.lakesregionhome.com and www.lakesregionrealestatenews.com for everything you need to know about the Lakes Region of NH real estate market.

Some Good Buys In October

If nothing else, the real esatate market in the Lakes Region of NH seems to be consistent in many ways. There were 73 residential home sales posted for October in the communities listed in this Lakes Region report. That total is very close to the 71 sales posted last October. The average sales price was down a little bit coming in at $271,339 last month compared to $290,420 last October and $292,896 in September of this year. Just about half the sales this past month were under $200,000 which also seems to be the new norm.

Top honors this month for the highest sale was a waterfront home at 221 Dockham Shore Road in Gilford. It was on the market for $1.875 million and sold very close to that at $1.865 million. This custom built lake home has almost 5,000 square feet of living space, ten rooms, six baths, a gourmet kitchen (of course), full finished basement, covered boat slip, and a detached two car garage with a guest apartment above all sitting on a 1.2 acre lot with 175 feet of frontage. A very tasteful home.

My pick for one of the best deals in October goes to the property at 21 Grouse Hollow in the gated Grouse Point Club in Meredith. This 3,680 square foot, contemporary style home has twelve rooms, four bedrooms, three baths, three car garage, great views of the lake, and was sold with a boat slip. This property was listed in March of 2008 at $1.095 million but finally sold for $675,000. Not only did the buyer get a great deal on the home but he now has access to all the fantastic amenities that the Grouse Point Club has to offer including the indoor swimming pool, exercise room, tennis courts, and beach.

There were some other great values picked up last month in all prices ranges. For example, a ranch with 200' of frontage on Berry Pond located at 18 Holland Street in Moultonborough was listed at $219,000 and changed hands for $165,000. The property was assessed by the town at $257,500. A Winnisquam waterfront home at 82 Sunset Drive in Belmont was originally listed at $449,000 (assessed for $478,800) was sold for $375,000. This completely renovated, year-round home has three bedrooms, two baths, a huge dock and 55 feet of waterfront. I bet the new owner is happily looking forward to the next boating season. Another nice deal was a 4,800 square foot Adirondack home at 15 Bay Ridge Dive in Meredith that was originally offered at $1.195 million in 2008. It sold last month for $749,000 which is 86% of the town's assessed value. This home has four bedrooms, five baths, a gourmet kitchen, the requisite cathedral ceiling great room with huge fireplace, and nice views of Meredith Bay on Lake Winnikesaukee.

Of the 73 transactions in October where the assessed value was reported in the MLS, nineteen sales were at 80% or less of the town's tax assessment. Were they all good deals? I guess only the buyer knows for sure. But then again, he bought it, didn't he?

 

Compiled from the NNEREN MLS System.

A Golf Lover's Dream Home in the Lakes Region of NH

5 Wood Ridge Rd, Center Harbor, NH

Offered at $399,000 MLS #2808354

Wow!

Talk about a great setting & a GREAT home! This immaculate three bedroom, two & one half bath gambrel looks out at the 17th green of the Waukewan Golf Course.

This is a truly surprising home that was renovated in 2001 & features a warm post & beam feel on the first floor complete with wood ceilings, a well appointed kitchen with granite countertops & stainless appliances, separate dining room, beautiful stone wood burning fireplace in the sunny living room, three season sun room, plus a den/mudroom.

Upstairs there is a huge master suite, a library/office & two additional bedrooms. Outside you find a well landscaped yard, garden area, & an out building.

The exterior has been recently redone with low maintenance vinyl & a metal roof to ensure that you stay on the fairways instead of on a ladder. The full walk out basement contains the laundry area and all the mechanicals which have been updated by the current owner. The attached 2 car garage is the perfect spot to put your very own golf cart. Enjoy all that the Lakes Region of NH has to offer from this great home.

Fore!

 

 

Congress Passes Expanded Home Buyer Credit

Lakes Region of NH Real Estate Market Report

The wind roared through the Lakes Region this past weekend and blew most of the leaves off the trees within a two mile radius into my yard. It also blew about 100 residential listings into the expired bin on the MLS system. There were 1146 homes on the market as of November 1 in the communities in this report representing about 20 months worth of inventory. This tally is just a bit lower than the 1218 homes on the market last November. The average asking price came it at $587,664 compared to $536,037 for last November.

The median price remained relatively unchanged from last November at $299,900. Of the 1146 homes offered in the Lakes Region, 53 of them are in what is called a "contingency" status in the MLS system. A contingency status means that there has been an agreement accepted on a property but that there are conditions attached as part of the deal that must be met before the sale can take place. These properties show up in active searches rather than as pending so that buyers can still see them.

One of the more common contingencies is when a buyer has a home to sell before he can purchase another one. We have always had buyers who were in that predicament and with the market the way it is today we seem to have many more. But given how hard it is to sell any property today, sellers should think very carefully about accepting and offer with this type of contingency. Sometimes though, depending on the seller's situation and other conditions (such as how saleable the buyer's house is and how strong the offer is otherwise) it might be worth a shot. In this case, a purchase and sale is entered into that allows time for the buyer to find someone to purchase his home but also allows the seller to continue to market his home and possibly find another buyer who doesn't have a home to sell. The P&S would include a "kick-out" clause which allows the seller to accept another offer from a second buyer. The second offer would only become effective if the first buyer could not come up with a way to remove the contingency of the sale of his home within a short period of time (usually 72 hrs). The second buyer will probably end up with the property as the chances of the first buyer being able to move forward on the deal is usually pretty slim. The downside to accepting a contingency offer like this is that a contingency status listing just doesn't get as many showings as those that are listed as "active" in the MLS. But again, given certain conditions (like your home has been on the market for two years and the only person ever interested in it was your cousin Vinnie who doesn't have two nickels to rub together) it could be a way to get your home sold.

Now for some good news for the housing industry! Congress approved a bill today expanding the first time homebuyer credit to include homebuyers that have owned homes for at least five years. These buyers may be looking to "move up" and purchase larger or more expensive homes which should help the mid-range priced homes. Buyers can receive a $6,500 credit on homes up to $800,000 as long they enter into a purchase and sale agreement by April 30, 2010. To be eligible buyers must earn less than $125,000 individually or $150,000 per couple. If the buyer doesn't use the new home as a primary residence or sells it within three years he would have to repay the credit. The first time buyer credit is also extended to April 30, 2010.

Residential Homes Available November 1, 2009

 

TOWN	TOTAL	< 100K	100 to 200K	200 to 300K	300 to 400K	> 400K	AVG LIST PRICE	MEDIAN PRICE	AVG DOM
ALTON	140	3	17	45	17	58	$732,121	$352,400	175
BARNSTEAD	78	3	35	26	5	9	$244,865	$222,450	188
BELMONT	93	21	28	16	19	9	$232,821	$199,900	161
CENTER HARBOR	23	0	1	5	0	17	$827,039	$499,900	140
GILFORD	143	3	16	30	21	73	$804,596	$420,000	195
GILMANTON	72	7	23	21	6	15	$325,062	$237,250	189
LACONIA	203	8	62	46	28	59	$411,474	$269,000	192
MEREDITH	112	3	9	22	29	49	$886,810	$397,900	305
MOULTONBORO	162	2	23	29	25	83	$935,953	$424,750	202
NEW HAMPTON	31	0	11	9	4	7	$306,329	$234,900	151
SANBORNTON	50	1	13	15	5	16	$369,379	$274,950	167
TILTON	39	3	11	15	7	3	$264,077	$249,900	170
TOTALS	1146	54	249	279	166	398	$587,664	$299,900	197

Data compiled from the NNEREN MLS System.

Looking for a truly affordable vacation retreat or primary residence in the Lakes Region??

This like new, 2 bedroom contemporary is perfect for either. Beautiful, bright open floor plan. Large living room with cathedral ceilings, hardwood floors, and gas fireplace that flows into the dining area and well appointed kitchen. There is a large master suite upstairs and one bedroom on 1st floor. This home is easy to heat but also has central air conditioning. The full basement can easily be finished for additional space if desired. The large deck with hot tub out back is the perfect spot for stargazing. Out back you'll also find a fenced-in level yard with an above ground pool and deck. There is also an out building for storing the lawn equipment or pool toys. The property is located just a short walk to the public beach on Crystal Lake. The perfect place to be on a permanent staycation!!

MLS #2797564, offered at only $199,900

Cozy Log Cabin in the Lakes Region of NH

Looking for a cozy get-a-way or an economical year rounds primary home? This affordable 2 bedroom log cabin has all the charm and warmth that you would want! Secluded 2.45 acre lot with potential views. Close to the Pemi River. Priced at only $209,000 it seems like a bargain. Click on the picture for more info.

MLS #2805640 44 Jenness Hill Rd, Bristol NH

All Hallows' Eve in the Lakes Region Home Market

Click on the pictures for some true terror...

This time of year you tend to see a lot of ghosts, goblins, ghouls, and witches on the streets of the Lakes Region of NH. There are also a lot of haunted houses and scary mansions with dark and dusty dungeons full of cobwebs, musty smells, and sinister shadows. It kind of reminds me of Halloween, but I am talking about real estate and the buyers, sellers, and agents involved in this frightening business.

We find buyers coming to the Halloween home buying party with many different costumes on. Sometimes they try to hide their true identity, but most of the time their costumes reflect who they really are. One popular costume this holiday season is that of the outlaw legend Jesse James. Cowboy outfits have always been popular for kids and buyers, but this year they are focusing in on one of the greatest robbers ever. Most of these buyers are from south of the border (the flatlands) and I think that the popularity is a result of reading too many articles in the Tombstone Gazette about people stealing property all over the country. While there are some great deals out there, these outlaws need to learn that they can't steal everything.

It seems that the number one outfit is the old fashioned ghost costume. Buyers this year usually materialize right before your very eyes and then disappear just as quickly like mist on Lake Winnipesaukee early in the morning. Equally as popular this year is the costume of the NFL great, Brett Favre. I'm not just talking about a cheese head Green Bay Packer uniform. It could be a New York Jets or Minnesota Viking uniform or combination thereof. He can't make up his mind if he really wants to play or for whom. Buyers this year have the same problem deciding what and if they want to buy which explains the rising popularity of this scary get-up.

Sellers, to our dismay, often dress up as riverboat gamblers thinking they can bluff their way to a higher sales price with poker faces and sly grins. Many don't realize until it is too late that the buyers hold the best cards right now. The morbid result is another bludgeoned deal to be off hauled to the cemetery. I could say some sellers dress up as ghouls or witches, but that wouldn't be nice! Fortunately, there are other sellers dressed up as princes, princesses, damsels in distress, or Monty Hall saying "Let's Make a Deal".

Like buyers, real estate agents have gravitated toward the ghost costume this season. Many sellers unfortunately have unknowingly listed their property with one of these phantom agents. Their picture in the company brochure looked worldly and real enough, but it seems that many agents are caught in that eerie netherworld between the living and dead. Half in the business and half out. Although I didn't believe in ghosts before this year, I visited many of the dark, foreboding, and genuinely haunted real estate offices in the area and saw the empty, deserted desks of agents departed and felt the overwhelming odor of dead deals and expired listings. Really spooky.

You might also see some new agents dressed as babies and some well seasoned ones as the old standby Father Time. There are a few agents dressed as medicine men or sorcerers. But the ones that are likely to win the top prizes for the best costumes are the many strong agents who are out there every day as Fairy Godmothers or Super Heroes fighting the darks forces on All Hallows' Eve. It may take a while for them to be recognized. It usually occurs after a long, persistent battle through dark times that culminates with a home sale to a very nice lady dressed as Little Red Riding Hood.

And finally, just remember that the cold feeling you get in your parlor is probably just a drafty window, that the banging sounds on the middle of the night is probably air in your hot water pipes, and that the blood curdling moaning you hear in the basement is probably your spouse lamenting about the 673 days your home has been for sale! Have faith though, Christmas is coming. That's another holiday entirely and you know, I still believe in Santa Claus. Do you?