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
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.
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!
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
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
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!
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.
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:
...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.
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!
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!
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!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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