Seacoast NH Real Estate-Sue Melhorn

Government Is Streamlining the Short Sale Process

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 26 May 2012 08:51:32 -0700

I am pleased to announce that the Federal Housing Finance Agency (FHFA) made the decision to streamline their short sale process in an effort to help more homeowners avoid foreclosure! Starting on June 15^th, real estate agents who are working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer with 30-60 days.

If the process takes more than 30 days, the lender must give the borrowers a weekly update on the status of the short sale decision. This is a HUGE improvement and will help to keep buyers in play on short sale offers. One of the problems has always been that the decision on a short sale offer takes and extremely long period of time–6 months to even a year. What buyer wants to wait that long for a decision on an offer on a house? Very few! The shortening of this timeline for short sale decisions will help distressed homeowners and their Realtors keep the prospective buyers informed about what is happening with there offer in an effort to keep them interested in the property. Communication is key to any good business, and I’m happy that the FHFA agrees and has made these changes!

The FHFA also announced that by the end of this year, Fannie Mae and Freddie Mac will make additional enhancements that address borrower eligibility, documentation simplification, property valuations and several other updates. What does this mean for you? It means that if you have a loan that is backed by Fannie Mae or Freddie Mac and you are facing foreclosure, it is in your best interest to sell your home short instead. If you need more information on this or on how to find out if your loan is backed by Fannie Mae or Freddie Mac, please feel free to give me a call. I would be happy to help and talk to you about your options.

Sue Melhorn is a Realtor licensed to sell real estate in New Hampshire and Maine. Her primary service areas are Strafford and Rockingham counties in New Hampshire and York county in Maine. Sue is also Certified Distress Property Expert. She has both the training and expertise to help you sell or buy a home in today’s unpredictable real estate market. Most recently, Sue has been focusing on helping homeowners sell who owe more than their homes are worth. This type of sale is called a Short Sale. If you have questions about how short sales work or about any aspect of the real estate market today, please visit Sue at www.canwesellshort.com or www.seacoasthomesforyou.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Life of a Short Sale - Part 4

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 12 May 2012 12:09:48 -0700

Thanks for tuning back in to my 5 part series of the Life of a Short Sale! Parts 4 and 5 really go together – the wait and the closing. There are two things you should remember about a short sale:

The potential for savings for both a buyer and a seller are incredible; and
The process can take a very long time.

The hard part for both the seller and their Realtor is keeping the buyer who makes an offer on a short sale. Many times a buyer will get sick of waiting for an answer from the sellers' bank and they will move on to another home. How long is long? Well, it truly depends on who the bank is and how complete your offer package is to the bank. So depending, the wait time on an offer can take as little as a month to as long as six months - sometimes longer. I know … YIKES! This does not mean shorts sales are impossible they are just meant for those who have patience.

When you do finally hear from the sellers' bank on an offer, in some cases the bank will take the contract as is and move to closing immediately. In other cases, you will then begin a negotiation with the bank. If you are in negotiations, be sure to get an answer to the bank as soon as humanly possibly. When you have the banks' attention, you want to keep it.

Once negotiations are completed, or the bank agrees to an offer, they will send to the sellers' Realtor what is called a Letter of Intent. This outlines what the bank expects in order for the closing to happen. They will even dictate the closing date. If this date needs to be changed, that can be done but it must be mentioned immediately. The sellers' bank will typically give a 30-45 day window to close for buyers who need financing. However, if it is a cash closing, they may want to close as soon as 2 weeks.

Bear in mind that if the seller has two mortgages, you may have to negotiate with two banks. The second mortgage holders are often much more willing to lower debt amounts significantly because they are in second place; but, they still do need to be negotiated.

The Life of a Short Sale may be a long one but they are truly worth it in the end for both buyers and sellers. If I can help with any questions you may have on either side of a deal, please feel free to call or email me.

Sue Melhorn
SeacoastHomesForYou.com

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Avoid Foreclosure and Take Back Your Life!

Sue Melhorn (RE/MAX Coast to Coast) — Wed, 18 Apr 2012 09:14:53 -0700

Last October I sat down it the dining room of a client to conduct a listing presentation. Sitting across the table was a woman who looked defeated--like she was going to break down into tears. My client, I will call her Judy, said, “I can’t believe this is happening to me. Do you really think I can sell my house?” I had an idea that this listing may be a short sale before I walked in but after seeing Judy and talking to her about her circumstances, I knew her only option was to sell short.

After a discussion on how a short sale works and the need to get the home listed as soon as possible to avoid foreclosure, Judy agreed that a short sale was the best way to go. Her husband was in the military and if they foreclosed he would lose his position due to a security clearance. That was the last thing they needed as his was their only income. Foreclosing meant losing a house and their only source of income. It would have been devastating.

We did all the right things, listed the home, made regular price reductions and four weeks after listing we received an offer. Judy was elated. The weeks after closing were long and often trying. Many, many pieces of paper changed hands, many calls were made and several hundred maybe even thousands of emails were sent. A foreclosure auction was even stopped along the way too. But eventually Judy and her husband made it to the closing table. Yes, a tear or two was shed; but in the end, Judy knew that selling short was her only option.

I cannot tell you how gratifying it is for both the person facing foreclose and for me to finally get to the closing table. To know that we pushed through it all to get to the other side and now my client is in a better space. Judy said to me, “Sue, I couldn’t have done this without you. I was ready to just let my house go to foreclosure. As I look back, you helped me take control of my situation and we saved my husband's job. Plus, I sold my home; it wasn’t taken from me. I feel like a weight has been lifted off my shoulders and I cannot thank you enough.”

The short sale process is a long one but in the end, I helped someone. It was truly my pleasure to help Judy and her husband. Thru the process I not only helped them, but I also made a very good friend. .I know one day, in the not so distant future, I will get a call from Judy that says, “Sue, lets go buy that house I always wanted.” I can’t wait!!!

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Short Sales Don't Have to be Scary!

Sue Melhorn (RE/MAX Coast to Coast) — Wed, 28 Mar 2012 09:17:23 -0700

The short sale process truly is much like a normal home sale. You still list your home with a Realtor. You then market the property and reduce the price if necessary to get an offer. The big difference is that once you receive an offer on your home, the offer price must be approved by your lender. Once you get an offer, here is what happens:

A Hardship Letter is drafted by you to send to your lender. This letter includes all financial difficulties that caused the short sale in the first place (divorce, job loss, medical issue, relocation, etc.) The lender can then research these items to make sure the short sale is on the up and up. Along with this Hardship Letter, bank statements, investment accounts, pay stubs and other financial records are also submitted to your lender. This entire package is called the Settlement package.
Once your paperwork is received by your lender, they will review the settlement package and consider forgiving the remaining loan balance and all expenses. The expenses forgiven include property taxes, real estate commissions and other expenses associated with the closing.
A Broker Priced Opinion (BPO) will then be ordered by your lender to examine the prices of the home in the market by looking at comparable sold homes to insure that the offer is in line. Please bear in mind that your lender will most likely consider something less than market value because they will be avoiding foreclosure with a short sale which is saving them time and money. So, often times a buyer can get a much better deal on a short sale too!!
The lender then will review the purchase agreement and compare it to the BPO to determine if all is acceptable.

Although they are called short sales the process can be quite lengthy. You will definitely need a good real estate agent, experienced in selling homes short in addition to a lender willing to work with you on the loan and a buyer willing to wait out the process.

Sue Melhorn
SeacoastHomesForYou.com

Re/Max Coast to Coast
Cell: 603-944-0186

Fax: 866-431-1298
E-Mail: SueMelhorn@Metrocast.net

Business Directory: http://www.MyBusinessDirectoryOnline.com/Home/SueMelhorn

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Are You Facing A Distressed Sale?

Sue Melhorn (RE/MAX Coast to Coast) — Wed, 28 Mar 2012 09:05:34 -0700

There are many, many reasons that can be used to explain the current mortgage situation in America today. So you are truly not alone in thinking, “Why Me?” The reality is that there are thousands of US homeowners, just like you, that are in financial distress due to real estate. And, this number is more than in any other time in the history of the US residential housing market.

It is my honest belief that one thing remains that same for the majority of all home seller’s today—that the best thing you can do is seek the guidance and services of an educated Real Estate Agent to get your questions answered.

In any market, there are a certain percentage of homeowners who are distressed. In some areas, as many as 1 out of 10 homes are at some stage of the foreclosure process today. And, this number does not include those who need to relocate, those divorcing or who have had a death in the family. For whatever reason, because of today’s real estate market, they owe more than their home is worth and they just don’t know what to do.

I want to help you navigate this tricky market we are in today. There is no easy way out but I want to give you an opportunity to make the best decision for you, for your family and for your future. For more information, click on my free eReport so you can get all the information you need and possibly avoid foreclosure. You will be glad you did!!

Sue Melhorn
SeacoastHomesForYou.com

Re/Max Coast to Coast
Cell: 603-944-0186

Fax: 866-431-1298
E-Mail: SueMelhorn@Metrocast.net

Business Directory: http://www.MyBusinessDirectoryOnline.com/Home/SueMelhorn

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Are Short Sales Growing In Popularity?

Sue Melhorn (RE/MAX Coast to Coast) — Thu, 01 Mar 2012 06:17:24 -0800

The answer to that is YES!!!! The short sale niche is certainly growing in importance and popularity in our real estate community today. Banks and lenders are overwhelmed with foreclosed properties. So what are they doing? To save themselves money and the legalities involved in a foreclosure, many banks are encouraging short sales. Lenders are also getting a little easier to deal with on short sale offers. Truth be told, a successful short sale helps your lender to avoid getting one more foreclosed home on their books. Banks are in the business to lend money not hold foreclosed homes.

Sue Melhorn is a Certified Distress Property Expert and a Realtor licensed in the States of New Hampshire and Maine. She is trained in helping sell your home when you owe more than your home is worth. She is not an attorney, tax professional or loan modification expert from a bank. She will always advise you to talk to qualified professionals if the need arises. However, she is a local Realtor who can help you sell your home short without a real estate commission or any other upfront fees. She will discuss the pros and cons of your options. Request her report answering many questions about Short Sales and you can visit her website Can We Sell Short or Seacoast Homes For You.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

34 Mark Circle, Berwick ME., $59,000

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 26 Mar 2011 17:07:11 -0700

Nice lot located in Berwick, Maine. Lot has public eater and sewer in place. Great spot for a mobile home and no park fees.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Dover NH Real Estate - Building the Economy

Sue Melhorn (RE/MAX Coast to Coast) — Fri, 06 Aug 2010 13:42:05 -0700

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Kittery ME Real Estate Market-Year End 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sun, 25 Jan 2009 08:59:43 -0800

Although the real estate market was tough in 2008 as you will see below, 105 homes sold in the Kittery area. People still have to move and homes still do sell regardless of the market. With that said, here is A Little Perspective on the Real Estate Market:

• More than 1000 banks closed in 1930 (three years before the FDIC was created) BUT Only 14 banks have been taken over in 2008,

• There are 76 million households in the US that own their home--24 million of these homes are owned free and clear,

• There are 52 million homes with mortgages in the US; 97.2% of these are not in foreclosure AND 93.8% of these homes are current on their payments.

Unfortunately...

• Over 20% of people with a mortgage owe more than their home is worth

• 40% of all homes in foreclosure are non-owner occupied (investments)

• There is $975 billion in consumer debt in America

Historic Facts...

• The average real estate boom lasts 3 to 4 years, and the bottom lasts for 15 months

• This real estate boom lasted 9 years, so the bottom will likely last 2-3 years (start Jan. 2008)

• The normal recession lasts 7 to 8 months in total

• There have been 8 recessions and 1 depression in the past 100 years

• 8 times more millionaires are created in a recession

Here is the history on what happened in the Kittery area at year end...

**10 homes sold in November and December

**Year-to-date, 105 homes have sold

**18 homes are currently "pending sale" with active contracts

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Hampton NH Real Estate Market-Year End 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sun, 25 Jan 2009 08:56:12 -0800

Although the real estate market was tough in 2008 as you will see below, 270 homes sold in the Hampton area. People still have to move and homes still do sell regardless of the market. With that said, here is A Little Perspective on the Real Estate Market:

• More than 1000 banks closed in 1930 (three years before the FDIC was created) BUT Only 14 banks have been taken over in 2008,

• There are 76 million households in the US that own their home--24 million of these homes are owned free and clear,

• There are 52 million homes with mortgages in the US; 97.2% of these are not in foreclosure AND 93.8% of these homes are current on their payments.

Unfortunately...

• Over 20% of people with a mortgage owe more than their home is worth

• 40% of all homes in foreclosure are non-owner occupied (investments)

• There is $975 billion in consumer debt in America

Historic Facts...

• The average real estate boom lasts 3 to 4 years, and the bottom lasts for 15 months

• This real estate boom lasted 9 years, so the bottom will likely last 2-3 years (start Jan. 2008)

• The normal recession lasts 7 to 8 months in total

• There have been 8 recessions and 1 depression in the past 100 years

• 8 times more millionaires are created in a recession

Here is the history on what happened in Hampton at year end...

36 homes sold in the Hampton area in November and December:

- 22 single family homes,

- 12 condos, and

- 2 mobile home.

In 2008, 270 homes sold in Hampton:

-148 single family homes

- 105 condos, and

- 17 mobile homes

In addition, 6 Hampton area homes went pending with active contracts in November and December.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Portsmouth NH Real Estate Market-Year End 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sun, 25 Jan 2009 08:48:50 -0800

Although the real estate market was tough in 2008 as you will see below, 264 homes sold in Portsmouth. People still have to move and homes still do sell regardless of the market. With that said, here is A Little Perspective on the Real Estate Market:

• More than 1000 banks closed in 1930 (three years before the FDIC was created) BUT Only 14 banks have been taken over in 2008,

• There are 76 million households in the US that own their home--24 million of these homes are owned free and clear,

• There are 52 million homes with mortgages in the US; 97.2% of these are not in foreclosure AND 93.8% of these homes are current on their payments.

Unfortunately...

• Over 20% of people with a mortgage owe more than their home is worth

• 40% of all homes in foreclosure are non-owner occupied (investments)

• There is $975 billion in consumer debt in America

Historic Facts...

• The average real estate boom lasts 3 to 4 years, and the bottom lasts for 15 months

• This real estate boom lasted 9 years, so the bottom will likely last 2-3 years (start Jan. 2008)

• The normal recession lasts 7 to 8 months in total

• There have been 8 recessions and 1 depression in the past 100 years

• 8 times more millionaires are created in a recession

Here is the history on what happened in Portsmouth at year end...

28 homes sold in Portsmouth in November and December:

- 19 single family homes, and

- 9condos.

In 2008, 264 homes sold in Portsmouth, NH:

-126 single family homes

-129 condos, and

- 9 mobile homes

In addition, 6 Portsmouth homes went pending with active contracts in November and December.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Rochester NH Real Estate Market-Year End 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sun, 25 Jan 2009 08:43:57 -0800

Although the real estate market was tough in 2008 as you will see below, 319 homes sold in Rochester. People still have to move and homes still do sell regardless of the market. With that said, here is A Little Perspective on the Real Estate Market:

• More than 1000 banks closed in 1930 (three years before the FDIC was created) BUT Only 14 banks have been taken over in 2008,

• There are 76 million households in the US that own their home--24 million of these homes are owned free and clear,

• There are 52 million homes with mortgages in the US; 97.2% of these are not in foreclosure AND 93.8% of these homes are current on their payments.

Unfortunately...

• Over 20% of people with a mortgage owe more than their home is worth

• 40% of all homes in foreclosure are non-owner occupied (investments)

• There is $975 billion in consumer debt in America

Historic Facts...

• The average real estate boom lasts 3 to 4 years, and the bottom lasts for 15 months

• This real estate boom lasted 9 years, so the bottom will likely last 2-3 years (start Jan. 2008)

• The normal recession lasts 7 to 8 months in total

• There have been 8 recessions and 1 depression in the past 100 years

• 8 times more millionaires are created in a recession

Here is the history on what happened in Rochester at year end...

45 homes sold in Rochester in November and December:

- 32 single family homes,

- 4 condos, and

- 9 mobile homes.

In 2008, 319 homes sold in Rochester, NH:

-212 single family homes

- 45 condos, and

- 62 mobile homes

In addition, 8 Rochester homes went pending with active contracts in November and December.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Barrington NH Real Estate Market-Year End 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sun, 25 Jan 2009 08:40:21 -0800

Although the real estate market was tough in 2008 as you will see below, 111 homes sold in Barrington. People still have to move and homes still do sell regardless of the market. With that said, here is A Little Perspective on the Real Estate Market:

• More than 1000 banks closed in 1930 (three years before the FDIC was created) BUT Only 14 banks have been taken over in 2008,

• There are 76 million households in the US that own their home--24 million of these homes are owned free and clear,

• There are 52 million homes with mortgages in the US; 97.2% of these are not in foreclosure AND 93.8% of these homes are current on their payments.

Unfortunately...

• Over 20% of people with a mortgage owe more than their home is worth

• 40% of all homes in foreclosure are non-owner occupied (investments)

• There is $975 billion in consumer debt in America

Historic Facts...

• The average real estate boom lasts 3 to 4 years, and the bottom lasts for 15 months

• This real estate boom lasted 9 years, so the bottom will likely last 2-3 years (start Jan. 2008)

• The normal recession lasts 7 to 8 months in total

• There have been 8 recessions and 1 depression in the past 100 years

• 8 times more millionaires are created in a recession

Here is the history on what happened in Barrington at year end...

17 homes sold in Barrington in November and December:

In 2008, 111 homes sold in Barrington, NH:

-92 single family homes and

-19 mobile homes

In addition, 5 Barrington homes went pending with active contracts in November and December.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Dover NH Real Estate Market-Year End 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sun, 25 Jan 2009 08:35:19 -0800

Although the real estate market was tough in 2008 as you will see below, 288 homes sold in Dover. People still have to move and homes still do sell regardless of the market. With that said, here is A Little Perspective on the Real Estate Market:

• More than 1000 banks closed in 1930 (three years before the FDIC was created) BUT Only 14 banks have been taken over in 2008,

• There are 76 million households in the US that own their home--24 million of these homes are owned free and clear,

• There are 52 million homes with mortgages in the US; 97.2% of these are not in foreclosure AND 93.8% of these homes are current on their payments.

Unfortunately...

• Over 20% of people with a mortgage owe more than their home is worth

• 40% of all homes in foreclosure are non-owner occupied (investments)

• There is $975 billion in consumer debt in America

Historic Facts...

• The average real estate boom lasts 3 to 4 years, and the bottom lasts for 15 months

• This real estate boom lasted 9 years, so the bottom will likely last 2-3 years (start Jan. 2008)

• The normal recession lasts 7 to 8 months in total

• There have been 8 recessions and 1 depression in the past 100 years

• 8 times more millionaires are created in a recession

Here is the history on what happened in Dover at year end...

34 homes sold in Dover in November and December:

- 26 single family homes,

- 7 condos, and

- 1 mobile homes.

In 2008, 288 homes sold in Dover, NH:

-191 single family homes

- 86 condos, and

- 11 mobile homes

In addition, 11 Dover homes went pending with active contracts in November and December.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Kittery ME Real Estate - October 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 22 Nov 2008 20:43:47 -0800

Lawrence Yun, NAR chief economist noted in October that, "A trend away from subprime mortgages to FHA loans, which often carry much lower interest rates, is a positive development for consumers and the house market going forward. Still, it will take some time for the change to yield a measurably higher closed sales volume in the aftermath of the subprime collapse. In the near term, we expect home sales to remain fairly stable." As real estate markets are local, here's what happened in the Kittery/Eliot area market in October:

**10 homes sold in October

**Year-to-date, 105 homes have sold in the Kittery/Eliot area

**18 homes are currently "pending sale" with active contracts

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Hampton NH Real Estate - October 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 22 Nov 2008 20:40:52 -0800

19 homes sold in the Hampton area in October:

- 8 single family homes,

- 10 condos, and

- 1 mobile home.

Year-to-date, 234 homes have sold in Hampton:

-126 single family homes

- 93 condos, and

- 15 mobile homes

In addition, 16 Hampton area homes are pending with active contracts.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Portsmouth NH Real Estate - October 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 22 Nov 2008 20:37:24 -0800

19 homes sold in Portsmouth in October:

- 5 single family homes, and

- 12 condos, and

- 2 mobile homes.

Year-to-date, 236 homes have sold in Portsmouth, NH:

-107 single family homes

-120 condos, and

- 9 mobile homes

In addition, 18 Portsmouth homes are pending with active contracts.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Rochester NH Real Estate - October 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 22 Nov 2008 20:33:53 -0800

31 homes sold in Rochester in October:

- 23 single family homes,

- 4 condos, and

- 4 mobile homes.

Year-to-date, 274 homes have sold in Rochester, NH:

-180 single family homes

- 41 condos, and

- 53 mobile homes

In addition, 28 Rochester homes are pending with active contracts.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Barrington NH Real Estate - October 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 22 Nov 2008 20:30:32 -0800

13 homes sold in Barrington in October:

- 12 single family homes, and

- 1 mobile home.

Year-to-date, 94 homes have sold in Barrington, NH:

-75 single family homes and

-19 mobile homes

In addition, 15 Barrington homes are pending with active contracts.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Dover NH Real Estate - October 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Sat, 22 Nov 2008 20:25:13 -0800

30 homes sold in Dover in October:

- 22 single family homes,

- 7 condos, and

- 1 mobile homes.

Year-to-date, 254 homes have sold in Dover, NH:

-165 single family homes

- 79 condos, and

- 10 mobile homes

In addition, 24 Dover homes are pending with active contracts.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Kittery/Eliot ME Real Estate - September 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Mon, 20 Oct 2008 20:27:52 -0700

As you may guess, I receive many requests from friends and associates for referrals to professional trades and services - everything from painters to attorneys. Because I've received these requests, and because I operate my own business by referral, I have compiled a Business Referral Directory that lists the finest individuals and companies serving our community. You can check out this new directory anytime on my website, www.SeacoastHomesForYou.com. I hope you enjoy this directory and if you or someone you know would like to be a part of it, please give me a call or drop me an email.

Now let's take look at what is going on in the market locally...

**10 homes sold in September

**Year-to-date, 105 homes have sold in the Kittery/Eliot area

**18 homes are currently "pending sale" with active contracts

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Hampton NH Real Estate - September 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Mon, 20 Oct 2008 20:16:41 -0700

Now let's take look at what is going on in the market locally...

30 homes sold in September:

- 16 single family homes,

- 12 condos, and

- 2 mobile homes.

Year-to-date, 215 homes have sold in Hampton:

-118 single family homes

- 83 condos, and

- 14 mobile homes

In addition, 9 Hampton area homes went pending with active contracts in September.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Portsmouth NH Real Estate - September 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Mon, 20 Oct 2008 20:11:05 -0700

Now let's take look at what is going on in the market locally...

28 homes sold in Portsmouth in September:

- 17 single family homes, and

- 10 condos, and

- 1 mobile home.

Year-to-date, 217 homes have sold in Portsmouth, NH:

-102 single family homes

-108 condos, and

- 7 mobile homes

In addition, 6 Portsmouth homes went pending with active contracts in September.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Rochester NH Real Estate - September 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Mon, 20 Oct 2008 20:01:00 -0700

Now let's take look at what is going on in the market locally...

36 homes sold in Rochester in September:

- 24 single family homes,

- 3 condos, and

- 9 mobile homes.

Year-to-date, 243 homes have sold in Rochester, NH:

-157 single family homes

- 37 condos, and

- 49 mobile homes

In addition, 10 Rochester homes went pending with active contracts in September.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!

Barrington NH Real Estate - September 2008 Market Update

Sue Melhorn (RE/MAX Coast to Coast) — Mon, 20 Oct 2008 19:54:17 -0700

Now let's take look at what is going on in the market locally...

8 homes sold in Barrington in September:

- 5 single family homes, and

- 3 mobile homes.

Year-to-date, 81 homes have sold in Barrington, NH:

-63 single family homes and

-18 mobile homes

In addition, 5 Barrington homes went pending with active contracts in September.

For more real estate information, check out my website www.SeacoastHomesForYou.com , or to receive a FREE on-line market analysis on your home check, out www.GetFreePropertyValues.com.

Sue Melhorn

SeacoastHomesForYou.com Re/Max Coast to Coast

A website on avoiding foreclosure: CanWeSellShort.com

Cell: 603-944-0186 Fax: 866-431-1298E-Mail: SueMelhorn@Metrocast.net

Oh by the way...if you know of someone looking to buy or sell a home, give me a call or drop me an email. I'm never to busy for any of your referrals!!