New Hampshire property prime for ramped up sales.
With the stock market approaching a seven year high and home sale prices up all over the country. The resort home sales are 6 to 9 months behind a return to higher prices. I have been through several real estate cycles in my 28 year career as a White Mountain NH Realtor. It has become easy to predict when inventory will shrink and prices will begin to escalate when looking at historical data. Now is the time to buy: Prices are still well below the 2005 levels and interest rates are low but creeping up!!
The Resort and second home market marches a half a year behind its “feeder” market. In the case of New Hampshire resort and second homes sales – the big player is the suburban Boston Massachusetts real estate market. When folks that live two hours away feel comfortable, and secure with their wealth and disposable income they knock on their neighbor’s to the north’s door.
In planning for current second home enjoyment, and the future possibility of retirement New Hampshire scores very well with the Wealthy Boston market. After all we are a short drive directly up Interstate 93, and we boast no state income tax or broad based sales tax. It certainly helps our crime rate is one of the lowest in the country as well.
A safe haven exists for families with children; the time and recreation created are wonderful memories to cherish for a life time. When retirement is on the horizon more and more active adults seek a place to live with low taxes and recreational activities they can enjoy after they are finished working for a living.
Back to the empirical data: When home sales accelerate in the suburban Boston Market New Hampshire gets the filtered effect of renewed second home sales. The added benefit at this time (like no other time in my career) is the low interest rates being offered by lenders. The rates you are seeing for primary homes are the same rates being offered on second homes. The only difference is second homes require a minimum of 20% down, but really if you don’t have that available you are not really a viable second home buyer.
We are working on serveral new project around the Lakes and Mountains of New Hampshire, as well as priced right general real estate in all area ski resorts near Loon Mountain & Waterville NH
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