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So... How's the Market?

By
Real Estate Agent with Coldwell Banker

I am almost certain if you are reading this post, at one time or another you have asked a REALTOR this very question.

 My question to you is.... Are you sure you got a truthful answer? 

 

Real estate markets are local.  Just because the media is saying that the real estate market is in the toilet nationally doesn't mean that the market where you live is suffering.  Some markets are and some are not. 

 

 

My little secret is this.  Some REALTORS will tell you that the market is great even when it is not.  I am going to share with you the truth about the Lake Winnipesaukee real estate in New Hampshire. The Lake Winnipesaukee real estate market is fairing pretty well. Our average prices are up and are continuing to rise.

 

Soooo... on one hand you have the media telling you that the market is HORRIBLE, and on the other hand you have some REALTORS telling you that the market is wonderful!

 

And here it is. Get ready for the big shocker:

 

You have all heard that it is a buyer's market, corret? Well, I am going to tell you that is not a buyers market... yup you read it right.  It is NOT a buyers market and this is why.  Wouldn't you agree with me that MOST buyers need to sell a home before they actually buy one?  In a buyer's market it is very difficult for the buyer to buy real estate.

 

So what does this mean?  Don't buy real estate? No, that is not what I am saying.  What I want to tell you is that it is an opportunistic market for both buyers and sellers. 

 

For buyers: 

 

Interest rates are VERY low.  Contact me for a list of reputable lenders. Inventory is plentiful!  There are a lot of homes for sale on Lake Winnipesaukee including waterfront properties as well non-waterfront properties all over the Lake Winnipesaukee area.  Keeping these factors in mind, yes it is a good time to buy real estate.

 

Here is a scenario for you to consider:

 

The owner has a home listed at $400,000 and sells it for the rock bottom negotiated price of $300,000.  In turn, this same seller MIGHT be able to negotiate a property that was at one time listed for $800,000 for a selling price of $600,000.  The owner may have taken one step back BUT he/she is now two steps ahead!!!

 

Sellers:

 

Home owners who bought property ten years ago are more than likely to have gained a lot of equity in their home at this point.  Take advantage of this market to upgrade or yes, even downsize. 

 

Here is scenario for you to consider:

 

The owner bought a home 10 years ago for the price of $100,000.  Today that same property might have a value of $250,000.  Even if you negotiate a sale for a price of $225,000, wouldn't you agree that the equity might it might be more beneficial to move that equity to another piece of real estate?  Or, use the gained equity to invest in a second piece of real estate?  

 

Like I said, it is an opportunistic time for you to both sell and buy real estate in the Lake Winnipesaukee area of New Hampshire.  My markets include all of Belknap and Carroll Counties.  If you are looking to buy or sell Alton, NH real estate, Gilford , NH real estate, Laconia, NH real estate, Meredith , NH real estate, Center Harbor , NH real estate, Moultonborough, NH real estate, Tuftonboro, NH real estate, or Wolfeboro, NH real estate please give me a call.

 

 

Contact me today to share with me your scenario so that I can help you reach your real estate goals. (603)978-2165

 

 

 

Kim Carpenter, Lake Winnipesaukee REALTOR, Lake Winnipesaukee real estate
Search Properties
Kim@KimCarp.com
www.KimCarp.com

 

 

 

 

Comments (4)

Jenniffer Lee
RE/MAX Complete Solutions - Boca Raton, FL
Broker/Owner/Realtor at RE/MAX Complete Solutions
Good post.  Great message to get out there.  The market is regional, as you said.  However, even where it is "slow" homes are still selling.
Feb 05, 2008 02:30 AM
Ann Cummings
RE/MAX Shoreline - NH and Maine - Portsmouth, NH
Portsmouth NH Real Estate Preferrable Agent

Hi Kim - good post on your market and stressing how local real estate really is!  We've fared pretty darn well up here in NH, compared to many areas around the country.  Now we just have to make sure NH residents hear the truth about each of our local markets.  I've been trying to do just that on my posts and whenever I get a chance to talk to people about the market.

Great post!
Ann

Feb 05, 2008 10:23 AM
Kim Carpenter
Coldwell Banker - Alton, NH
Lake Winnipesaukee REALTOR -Lake Winnipesaukee Real Estate, NH
Jennifer- Our sale prices are up but it is "slower".  Our average days on market are higher.  BUT if sellers are patient and priced competitivly their home will sell.
Feb 05, 2008 07:53 PM
Kim Carpenter
Coldwell Banker - Alton, NH
Lake Winnipesaukee REALTOR -Lake Winnipesaukee Real Estate, NH
Hi Ann, Thanks for the comment.  We are lucky compared to some states.  I will have to go check out some of your recent posts.
Feb 05, 2008 07:55 PM