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Real Estate Agent with Homequest Real Estate

 

  Back in 1974 my husband and I built our first house in Barrington NH.

  We were able to qualify for a program called Farmers Home Administration now known as Rural Housing. We were approved for an un-subsidized loan for $25,000 at 8.5%. With that money we were able to build a 24x36' full dormer-ed Cape on 1 acre.

The house required a lot of "Sweat Equity" ClearingWe cleared our own land!

staining 

 

And stained the siding by hand! The house had an unfinished second floor which we studded, sheet rocked and finished ourselves!

 

 

                                      finished house

  We sold a mere two years later for $35,000-a whopping $10,000 profit!

 

  My husband had a yen for "land" so we headed North to Danbury, NH and purchased an old Farmhouse (known as "The Big House") with a Barn on 2 acres. The property also included an additional 10 acre woodlot with road frontage...just in front of the Danbury school! The price...$21,500.

  After only 6 months my husband spotted a small house in "Downtown" that was For Sale for $1000...house-downtownbut had to be moved!

My husband proposed the deal to what was then"Indian Head Bank" (in Concord, NH) and they gave  us a loan for $13,000 to include moving the house (to our 10 acres),putting in a custom foundation,a well, a septic system,paying for Utility work and having the house (To be known as "The Little House") put on its foundation!back together

The payments for "The Little House" were $108/monthly

 

 

 

  The school kids were let out (chairs and all) to watch!

schools out

 

 

 

 

 

 

 Twelve years later we sold the "Little House" for $35,000.Finished house

 

In 1984 we moved to Concord, NH and bought our present home for $65,000. Our rate was 11.4%.

We rented the "Big House" with an option to purchase....and sold in a few years for $50,000.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

big house

THE BIG HOUSE

Purchased 1976 for $21,500

Sold in 1989 for $50,000

Sold again in 2005 for $258,00

 

 

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

   I FIND THIS ALL.......AMAZING!!!

 

 

Concord NH Realtor Area Information

 

  

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NH's Four Seasons 

                                                                
Joan Mirantz - Joni is a Realtor® with Homequest Real Estate, a locally owned, Customer Service oriented Firm.
Joan Publishes a monthly Newsletter "Food For Thought" under the pen name Realtor Sherpa.
(Joan also answers to Miz Maven and Miss Joni.)

Joan works in Buyer and Seller Representation with concentrations in the Merrimack Valley Area and towns surrounding Concord NH - the Capital City.
"I love what I do, and it shows in how I do it"

Having crossed over to the "other side of Middle Age" herself....Joan is an ongoing source of information about local programs, facilities and issues specific to her peers! 

 
Livin' the Life...and Ridin' the Wave

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Carol Smith
Casmi Photography - Mebane, NC

Joan - The appreciation of real property over the years is mind-boggling.  In 1972 we bought a small Cape in a suburb of Boston.  Paid a whopping $43,500!  And we had a rate of 13.5%!  In 1977 we sold it for $89,000!  When I went back to Boston a couple years ago the same house was back on the market for a mere $390,000!!

If I had only had the foresight to rent it out for about 10 years.....LOL

I love that photo of you dragging that tree!  Or was the tree dragging you?   

Aug 28, 2007 03:06 PM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services
Wow Joan -- I was just about ready to sign off when I saw this post pop up!  What a great history of buying and selling -- I am impressed!  I have not skills when it comes to building or construction!  It looks like you were destined to be a real estate professional!
Aug 28, 2007 03:09 PM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Carol...it really does boggle the mind when you see it all written down like that! We really did do a lot of re-hab and sweat equity stuff back then! My husband would love to do it still but not me...no way!
Aug 28, 2007 03:21 PM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Well Joan...I'd love to say it was destiny...but it all boiled down to $$$
Aug 28, 2007 03:22 PM
Carol Smith
Casmi Photography - Mebane, NC

Awww - come on Joan!  LOL  If I can still do it, so can you!

But....in the interest of full disclosure.....I have already told the hubby that this is the last rehab we do.   We may buy more properties, but someone else is going to do the grunt work.  My old bones just don't hold up as well as they did 30 (or 40) years ago. 

Aug 28, 2007 03:23 PM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Carol...I hear ya!
Aug 28, 2007 04:12 PM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Joan,

 I loved this, you've certainly done your fair share of work (and then some) over the years. Clearing the land...my goodness, good for you.

BTW, I came by this post as a result of a comment on William's in S.D.

Aug 28, 2007 05:14 PM
Marlene Bridges
Village Real Estate Services, Inc. - Laguna Hills, CA
Laguna Homes|Laguna Condos|Laguna Real Estate
Joan - It is amazing.  This is a wonderful testimony to how equity grows in our homes.  So many people cluck their tongues and say, "How will kids ever be able to afford it?"  How many young people would put in the sweat equity you did?  Great post!
Aug 28, 2007 07:07 PM
Jo-Anne Smith
Oakville, ON

Joan, I loved reading this post and had a big smile the whole time. The pictures were perfect ! I love the one of you tugging the brush away and the one of the school kids all sitting on their chairs watching the house being moved....

I find it all amazing too. Thanks so much for writing such an amazing and interesting post. Your husband is quite the wheeler-dealer !

Jo 

Aug 28, 2007 11:15 PM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Hi Lynda...nice to meet you! Most first time (or even second) buyers in those days expected to have to do work!
Aug 29, 2007 06:03 AM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Hey Marlene...thanks for stopping by! What do you think of those pants! LOL
Aug 29, 2007 06:05 AM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Hi Jo..that was a very small town when we lived there (around 600) so that was a big deal! I love that picture..thanks for noticing!
Aug 29, 2007 06:07 AM
Laurie Mindnich
Centennial, CO
Wow, Joan- you take the word "moving" to a whole new level!! :)
Aug 29, 2007 08:58 AM
Vicki Bishop GRI - Alabama Real Estate
Coldwell Banker United Realtors® - Bay Minette, AL
Isnt it amazing how time changes the value of things.
Aug 29, 2007 10:11 AM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Laurie...it was so long ago. Looking at the pictures reminded me just how much we actually did! It was a lot!
Aug 29, 2007 01:25 PM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Vicki...boy, ain't that the truth!
Aug 29, 2007 01:27 PM
Real Estate Flyers
Guru Real Estate Flyers - Toronto, ON

Hi Joan,

Great Story :), reminds of my days flipping homes during university - A LOT OF SWEAT EQUITY INDEED!!!

 

 

Aug 31, 2007 03:35 AM
Joan Mirantz
Homequest Real Estate - Concord, NH
Realtor, GRI, CBR, SRES - Concord New Hampshire
Good to see you Bruno...I was starting to think you had left AR!
Aug 31, 2007 08:41 AM