Buddy's Blog

Market thaw happening NOW

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Wed, 25 Nov 2009 08:19:54 -0600

Market is heating up slowly but SURELY in Southern NH for over $325,000 all the way up to very expensive luxury homes and horse properties...not going gangbusters or anything but fielding many calls and having showings that were non-existent months ago. Web site hits on higher priced properties are climbing and interest level is from both local and far away sources. Video viewing durations are also up. 4th straight up month nationally for existing home prices which although coming off a bottom does not say much for home sale prices (still low) but does say that the bottom is here. Fears of upcoming new releases of foreclosures from BOA (Countrywide) etc. are true, but while this may affect other markets, it will have not so great an impact in Southern NH where the market is MUCH better than places like FL, AZ, CA, Nevada. Interest rates are low, prices are down, first time buyer tax credits incentives and step up buyer tax credits are in place...if you need to sell in order to buy in Southern NH, now is the time to sit with your REALTOR of choice and have him/her show you the numbers or send them to you in an EXCEL table spreadsheet.

Appraisal issues in NH

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sun, 09 Aug 2009 11:45:16 -0500

I am hearing from many agents that appraisals are not showing accurate values in many cases. Some of the complaints I hear are that the comparables an appraiser can use only allow for 3 months back for sold listings and in many rural areas in this market that is sure not to produce enough comparables as some of these outlying towns have had only 3 sales of any homes in the past three months... period! Am also hearing that appraisers are being assigned still from distant areas in order to keep everything at arm's length and assure objectivity, yet in Southern NH one has to know the area because even from one abutting town to the next abutting town there can be large swings in value- in short the outside appraisers do not know the market area where they have been assigned in many cases and what might be valued in a particular area. What are the guidelines for choosing an appraiserf rom a lender's POV? In one case I have heard of a house appraising but the lender for the buyer did not accept it! Any appraisers in NH out there care to comment? What are the most recent guidelines and in what order are these guidleines "broken" if the comps are not available? Still, all is not bleak... there may be hope in terms of a general market turn around

Workouts not in bank's interest?

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Tue, 04 Aug 2009 17:02:24 -0500

Recently read a post called "The Ridiculous Loan Modification Solution" by Greg Curry in BrokerAgent Social. http://www.brokeragentsocial.com/article/433/the-ridiculous-loan-modification-solution The point was that it is not in the banks' interest to provide loan modification workouts because the recitivism rate is high among those in default on their loans; the "redefaulters" statistically prove that it does not work.

My thoughts:

I do not simply take as given that banks are "over burdened, slow moving creatures that have a hard enough time just walking in a straight line..." nor do I believe that I want them to do anything but be responsible now when they have not been in the past. It is called risk management and they did not manage it very well, they played the greed game and now to make excuses for them does not seem fair. Ever tried to work out a short sale agreement on a solid offer? Typical scenario: after 6 or so weeks and promising that a loss-mitigation negotiator was "just about" to be assigned, it often gets determined that one small piece of seller documentation is missing even though all was sent by the seller and/or listing agent and back to the bottom of the pile it goes, away goes the frustrated buyer, and eventually the price declines more and soon enough the bank owns the house then needs to relist it.

There could be perhaps a learnng curve for the banks to process these short sales and loan modifications more efficiently and thereby stop the amount of foreclosures that bring down everyone's house values, even those that never missed a payment. The banks helped get us into this mess then they can bloody well help us get out of this mess by training more hirees to do the job... since when has giving up on each other in this country been the way things are done? People need help and if they don't get it the whole ship goes down, slowly for sure, but down it goes.

This stuff is not rocket science. A prescribed set of variables and procedures to follow set up against a short term learning curve could put many accountants and former loan officers and wall street types back to work getting these workouts done and reversing the so called stats. Just because the "stats" indicate the redfault rate is high, well maybe that is because people need jobs. Let's strat by employing former Lehman workers in the very banks that are throwing in the towel on unfortunate (and culpable, I get that) families that thought the banks were managing risk properly.

Land for sale Brookline NH

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Thu, 02 Jul 2009 13:21:17 -0500

Canney Hill Woods subdivision on Wildwood Dr. in Brookline NH offers buried electric lines, open space, preserved acreage on approximately 80 acres. Close to lake Potanipo where Brookline NH residents can swim, part of the Hollis-Brookline school district SAU41, close to Hampshire Hills Raquet and Fitness health club with weight rooms, tennis courts, swimming pools, nutitional and other health related seminars and dining facilities. Near also to the Mile away restaurant as well as commutable to Nashua, Manchester, Hollis, Worcester MA and the 495 Belt. Downtown Boston in just over one hour. Bring your builder or use ours! See it at http://www.popesays.com including video!

Amherst and Bedford NH year over year stats!

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Tue, 09 Jun 2009 19:31:58 -0500

Here they are for Amherst and Bedford NH May 08 to May 09...

http://www.thepopesaysrealty.com/amherstbedford0809.pdf

Please be sure to look at the criteria chosen for this report at the bottom of the pages so you know what the report is telling you. Please come back this blog every month for a new report. If you desire a customized report to be sent to you contact me at Buddy@Popesays.com Please legitimate buyers and sellers ONLY! The reports take some time to create! I will need contact information please only because I will need to know where to send it- a simple email address will do or give me more if that is what YOU want to do, it is NOT a requirement. Please read my privacy statement at: http://www.thepopesaysrealty.com/privacypoptoMLS.htm

I work with moderately to very wealthy clients and with the elderly at all income levels or stages of transition: http://www.nashuavideotours.com/virtualtours/sample/isleofledgewood/MLS.html

What if...?

You could find an agent that did not require you to sign up foir anything!
Your agent hired a home stager to give you a written report of what you needed to do to sell your home!
You had an agent that provided every listing with a professionally shot video!
Your agent provided market data snapshots for you on a customized basis to keep you informed
You had one to two page summaries of your active competition and comparable sold properties including stats on Days on market, price per sq foot, original list to current or sold price, taxes...all on ONE or TWO sheets!
Your agent gave you the exact logic by which they arrive at the suggested pricing for your home
You had guaranteed page one Google placement for your listing on your agent's website
You had a Realtor with local knowledge gained over a lifetime of living in Southern NH
Your Realtor had years of negotiation experience
Your Realtor had testimonials from some of the biggest names in business
You needed and found an agent that had experienced firsthand the issues when dealing with elderly transition?
You could actually get written feedback on all showings

What if? Buddy@Popesays.com BH&Gardens Real Estate- The Masiello Group www.masiello.com or www.popesays.com

Maine Oceanfront FSBO

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sun, 05 Apr 2009 18:57:29 -0500

Re-blogged by 0 agents

Maine FSBO,Maine Island,Maine vacation,oceanfront (edit/delete)

For SALE by Owner, a licensed NH Realtor, however not licensed in Maine... BUYER AGENTS WELCOME. Does anyone have buyers for a Maine island oceanfront home that is a Waltman designed home renovated top to bottom in 1993 with approx 1667 sq feet and .67 acres and @345 feet of waterfrontage? This is ocean accessible and ready to move into...the price is $499,900 currently as of 4-5-09. For rent too all summer long to the right tenants. Contact owner EST at 603 562-5186. I, the owner, will direct you to the video of the property and answer any questions you may have. 3-4 bedrooms, nice lawn at ocean's edge and views to open Atlantic and outer islands. Priceless!

THE POPE OF REALTY ASKING YOU...

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Thu, 02 Apr 2009 19:54:11 -0500

OK, maybe some of you have seen this wonderful $1.95M NH Horse Property and the wonderful video of it that Fred Light did with "Magic" the horse actually narrating the tour. I chastized Fred because he said that after the previous week's episode of actually hanging outside an airplane to get a clear shot of a property, he was in no mood to actually film the "Magic narration" while standing on the back of a moving horse! Wimp!

I do hope you will all watch this video and learn from it that video is more about keeping audiences entertained than about some old bland boring you've seen one you've seen them all deja vu dealie. Keep them clicking and they will talk and send and soon there will be more talking and clicking. Give them a stale concept and well, who would want to pass that on to their friends or horse-companions? If the video interests you there are more area links of the general Monadnock area.

Tell your friends to watch the Magic show and soon there will be another of somewhat comparable quality in my neck of these Southern NH woods!

Monadnock Region links and market opinion 1-16-09

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Fri, 16 Jan 2009 09:29:51 -0600

Here it is in one spot- greater Monadnock area links for The Monadnock Region of Southern NH

This is not meant to be all inclusive and this poster makes no claim as to the accuracy of the information posted in these links. Still useful to have!

The market "chatter" is picking up here in Southern NH...calls into the office, website and video viewings, showings...so far this has not translated into a a lot of sales on the board, but it does mean that historically low interest rates are serving as an attraction to get those on the sidelines at least out and into houses for a look. Buyers are still very choosey so all the tips toimprove the curb appeal and have your house looking its best are still essential. The Credit crunch has definitely been a factor in at least 3 instances I have personally experienced in stopping a sale in its tracks...the pendulum has swung too far in the other direction in my opinion. For instance 80-10-10 loans will soon be a thing of the past...here it is from Jack Walsh at Great East mortgage recently:

"The guide lines in the Mortgage industry have sadly changed. The 2nd mortgage is virtually a thing of the past. If you have an 80% 1st they will give you a 5.00% 2nd with a great credit score... but it needs to be in a market classification "1" which means no homes have lost value in that county. [IF] the house you are purchasing is in a market classification "2" which means they allow no second mortgages over an 80% CLTV ( combined loan to value)," ... [then you are out of luck on an 80-10-10 and an 80-5-15.]

Other options like jumping to a jumbo loan require you open yourself to poorer rates, increased PMI...in my opinion the lending guidelines are throwing the baby out with the bath water. Hopefully the credit markets will loosen with the influx of taxpayer capital and the banks and other lending institutions will stop hoarding and start lending...don't get me started.

http://www.THEPOPEOFREALTY.com

http://www.monadnocklyceum.org/past_speakers.htm

http://www.macdowellcolony.org/

http://www.peterboroughplayers.org/

http://www.monadnockcc.com/

http://www.budgettravel.com/bt-dyn/content/article/2007/08/06/AR2007080600798.html

http://www.qcc.mass.edu/brink/Trav-rec/mt_monad/monadtr.html

http://clca.forestsociety.org/conservation-organizations/resources-by-town-results.asp?town=Francestown

http://www.harriscenter.org/

http://www.crotchedmountain.org/crotchedmountain/html/acpwaves.htm

www.happyvalleynh.org

www.wellschool.org

http://www.childrenandthearts.org/

http://www.monadnockart.org/

http://www.townofpeterborough.com/index.asp?Type=B_BASIC&SEC=%7B6D3E430E-D44B-4E9C-A454-F9231124A457%7D

http://www.mariposamuseum.org/director0705b.html

http://www.sharonarts.org/classes/%2004-fall-SAC-classes.pdf

http://www.sharonarts.org/

http://www.google.com/search?hl=en&q=restaurants+peterborough+nh

http://www.townofpeterborough.com/index.asp?Type=B_BASIC&SEC=%7B6DF175F1-EF05-460C-B81F-FC99C0F5A4AA%7D

http://www.peterboroughartacademy.com/peterborough-art-camp-overview.html

HORSE PROPERTY IN NH

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Fri, 14 Nov 2008 13:02:20 -0600

Southern NH Luxury Horse properties!

See it at:

http://www.nashuavideotours.com/virtualtours/sample/templehorse/mls.html

Never in recent memory has the market for horse property been so buyer friendly. Whether you seek top end, middle of the road or lower end in horse property or huge and protected pieces of georgous land with vista views in quaint New England towns such as Temple or Peterborough or Francestown or Lyndeborough, now is the time to be looking. In years past, if you blinked they'd be gone.

For other horse properties or properties with large acreage or GREEN homes please visit www.popesays.com or view right here:

Deering

http://www.interactiveproperties.com/viewerutilities/showcase.php?showcaseid=53858

Lyndeborough

http://www.nashuavideotours.com/virtualtours/sample/mountainroad/mls.html

Lyndeborough again (different property)

http://www.nashuavideotours.com/virtualtours/sample/NicholsRoad/MLS.html

Francestown

http://www.nnerenmls.com/nne/maildoc/b005M21817.html

The Isle at Ledgewood EARLY DEMENTIA program

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 23 Aug 2008 09:20:54 -0500

...It's called the LEAP program and is intended for those residents having early to mid signs of dementia, those that may need a little watching or some extra care, but are not ready for primetime secured living. It's another sign that this facility is flexible and foreward-thinking. The price of the rental includes 3 x daily meals in a restaurant atmosphere, housekeeping, laundry, senior trips, social hour (cocktails folks!), scheduled entertainment, and in-house nursing oversight. Here is the award winning video, please watch it and if you would like to share it you can do so at www.thepopeofrealty.com where the capability exists for sharing this video via email or link or actually embedding the video on your own site.

http://www.nashuavideotours.com/virtualtours/sample/isleofledgewood/branded.html

It is The Isle at Ledgewood. If you are an agent this is a "threshhold" type of rental listing...there are approxomately 60 units that need to be filled, there is an alzheimer's and dementia section of the facility and there is an early dementia program called the LEAP program. I have toured many many of these facilities in my day and this belongs at the top. A well run facility, with meals, laundry, housekeeping, senior trips and an in house nursing presence. They even encourage small pets...The location at the top of the hill in Milford NH is perfect and the views are far reaching. Cleanliness and compassion and understanding are the keywords. If you live in nearby Nashua, Amherst, Manchester, Bedford or Peterborough or Keene, if you are coming from out of state or other towns in state, this is a facility that definitely should be on your radar. But don't take my word for it, watch the video now!

http://www.nashuavideotours.com/virtualtours/sample/isleofledgewood/branded.html

The Isle of Ledgewood marketed through The Masiello Group NH

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 23 Aug 2008 09:02:22 -0500

Please visit my website at www.popesays.com and feel free to share this email via link or email or embed this video on your own site!

http://www.nashuavideotours.com/virtualtours/sample/isleofledgewood/branded.html

NH Assisted living award winning video

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 23 Aug 2008 08:59:10 -0500

Please visit my website at www.popesays.com and feel free to share this email via link or email or embed this video on your own site!

http://www.nashuavideotours.com/virtualtours/sample/isleofledgewood/branded.html

MLS listed assisted living units now available Milford, NH

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Mon, 28 Jul 2008 20:23:49 -0500

This idea is a little outside the box, I mean whomever heard of listing assisted living units through the MLS as rental property? But we checked with our local governing MLS and it is OK in our area.

What brought me to this was a chance meeting of an old time aquaintance in the Post Office, someone I had relied on for advice when my own parents had been in need of assisted living. One thing lead to another...Eldon Munson had been appointed the Executive Director of The Isle at Ledgewood and he asked me for some help in marketing these units. It came to me in a flash...list them as rental units subject to normal assessments for residency. Advertise in theaters, advertise on supermarket baskets...

Here is my question...I enlisted the cooperation of my company, The Masiello Group to go ahead and do this, I listed 4 representative styles of assisted care units and now have begun my advertising campaign. I have many ideas for managing this, however, I am also interested in getting other ideas as well....budget plays a part.

Question: If your budget were approximately $1500 out of pocket to get this facility "out there" in the public sphere how would YOU spend those dollars most wisely? My company advertises very braodly on about 50 websites already, so I am looking for more local, offline ways of getting the word out to the right demographic which I see to be the children of these seniors or else the seniors themselves. I am intersted in other demographic groups you think I should market to.

Please note: the town has reather severe sign restrictions and the facility is not on a main road, it is at the top of the hill from a main road. The town has allowed them only a VERY small sign. So, signage is NOT the answer as RE signs have restrictions as well except on the actual property.

Stay tuned for future blogs on why this is a project very dear to my heart...the facility has alzheimer/dementia services, a hair salon, a senior bus, senior entertainment, movie nights, a huge grand piano... All meals 3X daily, linens, housekeeping and laundry included in price. In NH, see MLS#'s 2733452.

WWW.MILFORDNHREALTY.COM

Transitioning the Elderly into assisted living- selling their homes FAST

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 14 Jun 2008 11:11:13 -0500

In the last couple of years I was inimately involved in the transitioning of BOTH of my (late) parents to assisted living homes. In the case of my father, whom suffered with advanced late stage dementia this stay was short lived, but it gave my (then) 89 year old mother the peace of mind to feel more comfort in letting home care helpers into their house to care (at last) for her, a move she had rejected because she wanted to be the sole caretaker for my dad, but which her children insisted on because their situation of "living as usual" was not entirely safe for them and frankly she needed help.

So we got her help. Interviewed many, finally chose the most flexible group we could find...Even so, these workers would come and she would be escorting them to the door because she wanted to care for my dad herself, despite her age and despite that she herself was not the picture of health.

Eventually there were falls on the part of my dad and after a couple of time when I came over to pick him off the floor, as was bound to happen, there was that time where the police were called by my mom and they came and got him situated again. Things were getting dangerous.

Finally, it happened that the ambulance was called because the police could not continue to be placed in this awkward position...in short, it was not their job. Once the ambulance came and took him to the hospital for evaluation, then the social workers (Medicare/Medicaid)were called and upon his return to the home the appointed therapist came (for my mom)-that went over like a lead baloon-, the managing case social worker came, the home nurse came...all to my mother's chagrin and dismay. The Irish theatrical came out and never before have I felt so guilty! My parent's both, but my mom especially, viewed this as an intrusion and she had this unique ability to delude herself that everything was alright again, despite the history of it all. Eventaully, they found a routine again, and we kids (grown up ourselves and resisting the temptation to fall into childhood patterns ourselves) allowed a transition to home helpers that came to visit, ones that we hired as opposed to the ones the State had sent.

Working with the elderly in late life transitions is trying at best. One must have patience and understand that the "client" is actually many "clients"...there is extended family each with their own agendas whom may have drastically different ideas about how best to take care of mom and dad. There is also the point at which the traditional roles of parents to offspring goes upside down where the offspring become the parents and directing forces and decisions need to be made, and advocacy chains of command must be established between siblings so that hospital bureacracy does not overwhelm...POA's, wills, trusts, DNR orders...all must be reviewed. It is very easy for mom and dad to get lost in the shuffle. Prescriptions seem to mount, this pill, that pill, too may pills...

So oftentimes there needs to be a home sold in order to raise the funds to pay for an assisted living or nursing home...that is where getting a REALTOR that has been through the process, one that has made the cirular trip from nursing home to hospital to rehad back to nursing home/assisted living home, one that has sensitivity to the family issues that may be involved... You REALLY need to think it through.

When it comes time for the house to be sold, I harken back to the seven deadly sins of buyers and sellers, especially items 1 through 3. These are the first important steps in any listing and marketing effort...in elderly transitioning, the management and understanding of whom the principals are is foremost...oftentimes THEY need a guide one whom is versed in the process and one whom knows when to delegate or suggest that other experts be brought in, experts such as tax advisors, elderly in-home care groups, estate sale groups, final clean-up of the home before listing outfits, cleaning experts...there has to be a plan!

Similarly there has to be a plan in marketing to best position to achieve what MAY need to be a quick sale or rental of mom and dad's house. With best positioning under multiple Internet media (webpages, video exposure, over 100 sites and portals...and affiliated with NH's top company, THE MASIELLO GROUP, I feel I am very well qualified to help you get this maze sorted out.

THE WEALTHY BUYER, OUT OF STATE BUYERS, IN STATE WEALTHY SELLERS

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Thu, 12 Jun 2008 14:03:21 -0500

HI ALL,

I have found that the wealthy out of state buyers looking in NH expect you to:

a) save them time

b) communicate ONLY as needed

c) report concisely with enough depth

d) convince them quickly you KNOW what you are talking about

e) convince them you LISTEN to what they are saying and have the confidence to question them on unclear items

f) be well-educated generally, and specifically to areas and homes and neighborhoods or be able to research quickly

g) show them only properties that fit their criteria

h) screen for undesireable neighborhood juxtapositions like:

house too close to a road

mis-match of home values in neighborhood

planned development (which represents an unknown)

commuter route near home ETC. ETC. ETC.

I) be local and be able to compare and contrast

j) have flexibility and patience and THICK SKIN!!

K) be pleasant and humorous!

OTHER IDEAS ANYONE?

Maine FSBO,Maine Island,Maine vacation,oceanfront

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 17 May 2008 18:02:19 -0500

High end buyers and buyer agency? Worth it or not?

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Thu, 24 Apr 2008 18:27:18 -0500

I was taking upcalls at the office the other day and I got a call on a really nice, high end listing. The person immediately wished to talk to the listing agent after plying me for some info on it. Our office requires that we put them through in that case, but I felt like telling them I grew up less than one mile from that listing and knew the area well and I did mention I had been inside the house numerous times while on tour...all to no avail. It seems that high end buyers like to get to the listing agent directly because they know commission is easily forked over by the listing agent when 2 sides are at stake...the value of buyer agency is really not understood after all these years...Maybe the value is there for the uneducated or first time buyer, but for experienced buyers- what is the value to them? They know all about due diligence and hiring an attorney. Is buyer agency worth the trouble really and the liablilty when serving upper end clients? Does the allegiance expressed in a contract really hold the upper end buyers' feet to the fire?

www.thepopeofrealty.com

IS THE NH REAL ESTATE MARKET AT A BOTTOM?

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 05 Apr 2008 10:25:56 -0500

Is The New Hampshire Real Estate Market at a Bottom?

Treasury Secretary Henry Paulson wants to give the Federal Reserve more regulatory powers to monitor the books of financial institutions, like investment bankers Bear, Stearns and Co. Inc., private equity firms and hedge funds in order to stave off shaky accounting and lending practices which put the public, financial markets and the value of the dollar at downward risk in comparison to the Euro and other worldwide currencies. Such a move, if adopted and signed into law, would make the Federal Reserve a "super regulator" and give it the authority to stave off financial bubbles and imprudent accounting practices such as we have witnessed with Enron, Bear Stearns, Arthur Andersen, Tyco and on and on. Real lives ruined. Some say that market imbalances should be corrected over time by the market itself and those that made faulty investments should not be bailed out at the further expense of the US taxpayer. But in the case of the housing bubble the underlying loans were made to buyers whom could not absorb a down slide in the market and upward adjusting rates on their mortgages. When housing is at the very root of the US economy, when millions and millions of US homeowners are facing foreclosure and home builders and suppliers are unable to sustain in their lines of business, it would seem that some intervention is needed. Hopefully the Fed itself will rise to the occasion and will appoint independent monitors of its regulatory record and expanse going forward. In the case of the Fed buying out Bear Stearns, the consensus seems to be that this was a necessary move on a systemic level so that a chain of implosions did not carry our overall economy into deep recession or worse, outright calamity.

Curiously enough, as buyers largely continue to sit on the sidelines in this downward spiraling housing market, it does occur that although revenge may be sweet from the buyers' perspective, there will come a time when the ripe fruit of easily picked equity hanging on the lower branches of opportunity may quickly disappear. Buyers are still largely sensing that the bottom may be a great deal lower still, but there is evidence to the contrary. "How's the market?" is a common refrain being asked of agents these days and the answer in NH at least should be "which market are you talking about?" Some towns are down greatly year over year in sales and other towns are up. Houses are selling at some price points and not others. The sure-fire "over 55" retirement housing sales are suffering. Price reductions work in some price ranges and not others. Are you talking about new construction or existing home sales? Is there a home sale contingency involved in order to buy? Are first time buyers involved? What credit levels are now "acceptable" on which loan products? There is no general all-encompassing answer to the question.

Toward the positive, we have Lehman Brother's stock posting recent and meaningful gains. Weren't they the ones that were supposed to go the way of Bear Stearns? The NAR (National Association of Realtors) figures for the month ending in February 2008 actually showed an increase in existing home sales for the month of February over January nationwide by 2.9% handily beating analysts' estimates which had called for 9.88 million fewer existing homes to be sold nationally than were actually sold. The Northeast has done particularly well lately in existing home sales. The stock market somewhat inexplicably went up over 380 points yesterday, maybe on the news of the Federal Reserve being given more expansive regulatory powers. Then there are suggestions by Congressman Barney Frank (Democrat - Massachusetts) that the lenders take on a certain amount of loan forgiveness in cases where the lendee has a realistic chance of making payments. Not a bailout, rather a workout. None other than Donald Trump has recently stated that the bottom is near since the bad news about the sub-prime debacle is largely if not fully out on the table. The spring market is coming and traditionally that is the best time of year for marketing and selling a home. Interest rates are still historically low. The NH-based office at Coldwell Banker Residential Brokerage in Amherst NH has shown more sales than listings on its monthly board over the last 2-3 months. The Federal Reserve chairman, Ben Bernanke, has finally uttered the "R" word- recession. I suspect in an election year that means the worst is already behind us, that we are not heading downward still. It's the politics, stupid.

So if you are a buyer in this market, especially one without a home sale contingency, then now is an excellent time to buy. Picking the exact bottom in this market is a fool's game. The signs of a turn-around are showing themselves. The inventory, while still great, is being slowly chipped away. This slow chipping away at the housing inventory accompanied by some "tough talk" by agents, backed by sellers whom are willing to be educated about market value based on actual sales and pending listings- all this will pave the way for even those buyers that do have home sale contingencies...it will become an even-keeled market again.

It is possible today, right now, to purchase properties that have been foreclosed on at bargain basement prices, however this opportunity to grab this "instant equity" won't last forever. The market is still tricky, but buyers beware...if you wait to "catch the exact bottom" you will be waiting at the curb when the bus rolls on without you. If you have a home sale contingency, please consider getting an updated Comparative Market Analysis (CMA) done on your home and further reexamine your unwillingness to lower your price. If you decide to "get real" too late, it may be exactly that, too late, not on your selling end necessarily, rather too late on your BUYING end because "bubbles" work BOTH ways-what has been overblown as a "downside bubble" will see its vacuum quickly filled when the market revives. Again, interest rates are historically low. FHA and VA guidelines for lending have been relaxed. Fannie Mae and Freddie Mac guidelines are tougher, true, but that will be considered a boost to overall market and credit confidence going forward. NOW is the time to talk to a REALTOR and find out what the market is doing...the market for YOUR particular situation.

Buddy Pope 4/42008

IS THE REAL ESTATE MARKET IN NH AT THE BOTTOM?

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sat, 05 Apr 2008 10:22:51 -0500

Is The New Hampshire Real Estate Market at a Bottom?

Buddy Pope 4/42008

DEERING NH FARMHOUSE THE REAL DEAL WITH VISTA VIEWS, BARN ETC

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Sun, 07 Oct 2007 20:50:15 -0500

Looking for a farmhouse...a really nice farmhouse...Yeah there's a little work here, but I mean it a LITTLE work!Here are the remarks from this listing:

Astonishing, airplane-like vista views in a highly elevated Deering NH location. Real deal NH farmhouse & big barn for horses. Chimney's 5, sills, roof, basement, floor support...all addressed! Tasteful updates. Extra wide flooring. Some cosmetics needed, conveyed with +- 18 acres though deed says more. Open fields. Near to the stars! BY APPT.

Here IS THE LISTING!:

http://www.nnerenmls.com/nne/maildoc/f004H88411.html

If you read and liked my previous BLOG about NH farmhouse renovations, then I am telling you to take this to heart...this country gem is worth a look. It sits highly elevated with vista views and the major items have all been attended to. A big open country kitchen, great big barn with true post and beam construction and in excellent condition, to be conveyed with +- 18 acres though deed does not reflect this. You may see this property on my homepage at http://www.mountmonadnockrealty.com/ or ask your agent to ask me for the video tour which I have available to me, but cannot yet post here.

While at my site, feel free to look into the seven deadly sins of buyers and sellers...

http://www.thepopesaysrealty.com/sins.html or see testimonials if you are looking for an agent on your buying or selling end: http://www.thepopesaysrealty.com/testimonials.html

Here is a link to that big old farmhouse I took on as a project long ago- this is NOT for sale as it is under private ownership now: http://personal.monad.net/~mandb/

Goffstown New Hampshire 123 Stephen Drive

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Wed, 19 Sep 2007 20:36:48 -0500

GOFFSTOWN NH- around $450,000...better look at this!! This property is currently at $104/sq foot. With the exception of one foreclosure listing, it is the BEST price/sq foot in Goffstown in the over $400,000 active listings category. MLS 2663178 in New Hampshire. Huge price appreciation almost a certainty. Comparables in nearby towns are at $600,000 with taxes there due to rise because of newer school. See it at www.thepopeofrealty.com If you are an agent and you have a buyer in and around $450,000 then you need to look at this...in all my years of Real Estate, this property offers the most bang for the buck all wrapped up in elegance! Buddy Pope, REALTOR CBRB-Amherst 103 Ponemah Rd. Amherst, NH 03031 (603) 562-5186 CELL (603) 673-4000 x242 DIRECT Video ALSO at www.amherstnhrealty.com or www.nemoves.com

Antique Country Homes in New Hampshire

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Fri, 07 Sep 2007 13:31:09 -0500

As a former owner of a gracious 1790's Colonial in Greenfield NH for which I provided the financing to have renovated back in 1999, here are a few words from that experience...

First, the experience of bringing an older home "back to life" is very fulfilling... good for the soul! One finds old treasures behind walls, secret rooms between chimney spaces, old slippers, magazines, construction and renovation decisions made long ago that can alter what remains possible. Old photographs and county or town historical records may be available that shed light on current projects. Word of mouth, local knowledge also comes into play.

In my case I developed a small vacation rental business after the project was completed. Here is a link:

http://personal.monad.net/~mandb/

Naturally, one wants to leave as much as possible of the "old" but if eventual resale is in the cards, then I would search long and hard to find a historical renovator that can show you examples of past renovations. Something old may need to be sacrificed if it is too far gone, but the sacrifice can be done in a way that remains true to the "old" but remains timeless while adhering to the current modern day tastes. It takes alot of thought and consideration outside of yourself...perhaps that is why this was so spiritually beneficial to me! Timelessness and choices made in renovating an antique home also apply looking forward too! It's not all about satisfying the past...still, one can never know the future! Thoughtfulness...

If you yourself are not the expert renovator, it pays to find one that knows their business. Those old thick beams in the basement that are moist and rotten enough to stick your finger into...well they MAY still be alright and there are mixes and solutions to apply to harden them up. Dirt cellars can have plastic laid down and then gravel brought in and placed on top of the plastic to tighten down the dampness that may be causing the moisture to rise to the beams.

Insulation can be blown in with very little upset to the walls. Does the well hold up enough with its replensihment rate to satisfy modern day water usage? Do we need to fix the well or curtail or hunger for water?

How good are the lines on the house? Are the windows in sad shape? Are the trees overgrowing the house so much that it wicks moisture to the house? Do the trees allow for squirrels and other rodents to gain easy access to the attic? Is that REALLY a concern...remember this house stood for hundreds of years.

Just some things to consider. if you would like to discuss further feel free to visit the link above or to call me via my website at http://www.mountmonadnockrealty.com/ or for general buying suggestions visit http://design.realestateabc.org/POPESAYS/www/homebuying/

Make it a GREAT DAY!

Buddy Pope, REALTOR

Chiropractors, Artists, Contemporary homes ala Fran Lloyd Wright! Income and sales Tax free New Hampshire

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Tue, 28 Aug 2007 06:31:56 -0500

Chiropractors wishing to relocate...in home business opportunity

Holy (cash) cow! This is in Peterborough NH. MLS#2719844. Town approved use for an in-home chiropractor- must live at the property. OR simply enjoy as a single family residence. Please visit http://www.thepopeofrealty.com/ to explore this fantastic opportunity. 4.2 acres, pleanty of parking, zoned family/rural located near Monadnock community hospital, but out of sight and earshot of same. This property has provided its current owner with a very lucrative business for the last 12 years, but now he must relocate. Please call yopur agent, or me, the listing agent at (603) 562-5186 between 9AM and 8PM EST to learn more. The home is castle-like, made of waterstruck brick, is contemporary in nature, mostly open concept, there are fields,a 650 ft deep well, a koi pond with water fountain, a rubber roof, copper trim around roofline, mat under driveway to prevent shifting, 3 well maintained septic systems, floor to roof 2 story windows plus new windows all around.... Peterborough NH was just voted one of the country's 10 coolest small towns to live in by Budget Travel magazine! I live nearby...it IS very cool, so cool it's HOT (I must be spending too much time around my teenagers and I am sure I still don't have it right!).

Buddy Pope, REALTOR at Better Homes & Gardens Real Estate- The Masiello Group 101 Ponemah Rd. Amherst, NH 03031 603-673-3600 x216 http://www.thepopeofrealty.com/

Chiropractors wishing to relocate...in home business opportunity

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Tue, 28 Aug 2007 06:27:36 -0500

Holy (cash) cow! This is in Peterborough NH. Town approved use for an in-home chiropractor- must live at the property. OR simply enjoy as a single family residence. Please visit www.thepopeofrealty.com to explore this fantastic opportunity. 4.3 acres, pleanty of parking, zoned family/rural located near Monadnock community hospital, but out of sight and earshot of same. This property has privided its current owner with a very lucrative business for the last 10 years, but now he must relocate. please call me at (603) 562-5186 between 9AM and 8PM EST to learn more. The home is castlelike, made of waterstruck brick, is contemporary in nature, mostly open concept, there are fields, a 650 ft deep well, a koi pond with water fountain and many other amenities like a hottub in the flowering courtyard. Peterborough NH was just voted one of the country's 10 coolest small towns to live in by Budget Travel magazine! I live nearby...it IS very cool, so cool it's HOT (I must be spending too much time around my teenagers and I am sure I still don't have it right!).

Buddy Pope, REALTOR at Coldwell Banker Residential Brokerage 103 Ponemah Rd. Amherst, NH 03031 603-673-4000 x242 www.thepopeofrealty.com

Price drops- will the bottom come up?

Buddy Pope (Better Homes and Gardens REAL ESTATE- The Masiello Group) — Mon, 27 Aug 2007 09:43:54 -0500

Help....Price drops- will the bottom come up?

The seller says to price it to sell, "within reason." You have looked at the competition, what has sold and what you have to sell is simply better, of better quality and craftsmanship...you know this from having been in countless homes during tours, having scruntinized the data, knowing the area of the subject property AND the comparable sold and active competition listings.

You have made some very LARGE and substantial price reductions and still no buyers are coming forth. Do you counsel still further price drops? Based on the MLS data, the listing should get showings, the neighborhood is stellar, the location is super...the only negatives are the house is SLIGHTLY dated, but only SLIGHTLY and limited to one area in particular of the home, but totally functional. The taxes are a bit higher than the competition...but that is because you have roughly 800 more suare feet! It is all appropriate and equal on scale.

Do further price drops bring out the buyers? We have all been told (and in the old days, when the market was more orderly and consistent, even experienced) that price drops will create competition between buyers and buyers will come forth because they sense that someone else will steal the property which they have been eyeing from afar.

In this market do you still believe the bottom will come up once the magic "zone" is reached or are further price drops like pitching money into a black hole, not necessarily going to attract any buyers? The property has acreage, is better landscaped, has a nice marble entrance... Does each price drop ensure that any offers will be similarly reduced or will the offers more closely approach the asking price? The homes that do sell are generally within 5% of asking price, but must the seller lower their price to the level of the comparable solds that have less square footage, less quality, fewer hardwood floors, lesser neighborhoods etc. in order to attract buyers...i.e. give it away? With each major price drop the expected traffic is just not forthcoming...

Words of counsel to the seller?