If you are an Amherst NH home buyer, you are like many others, Amherst NH Realtors included, probably scratching your head and wondering when you should pull the trigger and buy your dream Amherst NH home.
As much as we have seen signs of stabilization of Amherst NH home prices, we also feel the uncertainty based on all of the headlines we read daily.
I can't and wouldn't make a claim that we are at the bottom. I don't know if prices will go up or go down.
What I do know is our inventory has shrunk and current inventory in Amherst of single family homes for sale is down about 25% from a year ago. Whether this is due to sellers renting their homes or taking them off the market until prices recover, I can't say for sure. I do know there are not as many homes to choose from today as there were last year.
I also know May numbers are out and the numbers have soared in our area in pending homes sales in May 2011 against the same period last year. They are up 171%.
I do know that we have not been hit by the foreclosures to the extent many areas in the country have experienced.
New Hampshire's unemployment rate is in the mid 4's, that is a strong statement in itself.
New England is doing better than the rest of the country and we hear there are signs of stabilization in the area.
Real Estate is local, by region of the country, by state, by town and by price range within the town. You can't have the same discussion about real estate conditions based on national conditions.
When I speak with local Amherst NH sellers we will discuss how prices have dropped in our area by 20-35%; again, you can't say prices are down say 25% in NH...because some are down only 20% and some as much as 35% and that is a big difference when you are looking at a $500k home for instance.
As long as there is uncertainty in the NH real estate market, there will be opportunities.
I think buyers should contact a good local Amherst NH real estate agent that knows the local market and take advantage of one of these great Amherst NH home buying opportunities. Coupled with interest rates in the 4's, this is a buying opportunity that I don't believe I will see again in my lifetime.
Call me at Brin Realty Group in Amherst, I can help you take advantage of the Amherst NH home buyer opportunities of 2011.
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