Can I sell my Vacation Home now?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

The inquiries are starting to increase from those who may need to sell their vacation homes. This week I have had 2 different people. One who has an investment property in the Lakes region of NH. The second has a second home in our Seacoast region of Hampton Beach NH. Two different areas but both similar, worried if they can keep them with an extended "stay at home" order.

 

Here in NH we have "a stay at home order" but do NOT have "a shelter in place order". We can go out but with caution. Here in NH real estate is an essential service. These two cases are both in a situation where if this is extended, they may need to sell immediately to avoid financial ruin.

 

Taking the first situation, the couple owns an investment home. Located in the lakes region they have about 10 prime weeks of rentals. They are facing renters who are asking about canceling. They face an unknown if the government will extend the order forbidding summer rentals. Either way they need the rentals to pay the mortgage and taxes. Because it is an investment property, their bank refused to assist in postponing mortgage payments. They wanted to know what they could sell it for quickly. They loved my price and my proposed marketing, but will wait it out to May 1, then they may have to act fast.

 

In the second situation the couple owns a business. They are self employed as a mom and pop business with n employees. They got denied for unemployment. They are unable to qualify for the SBA loan released today. Right now there is no help for them. They have a large amount of equity in the beach house and are considering selling it to save their business and give them money to live. I let them know what it was worth. They did love the price, but the home was his parents and selling it would crush them. 

,

 

IN SUMMARY here in NH Real Estate is deemed essential and can be completed with caution.  It is possible to keep a distance and stay safe. Both of these couples want to wait to see what May 1st brings. I am sure there will be more in the same or similar situation as them. I am here, ready to help and ready to sell their property when they are ready.

 

 

My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 34 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

 

 

We stand by you through every step in selling your home
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Topic:
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New Hampshire Rockingham County Hampton Beach
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Rainmaker
5,391,705
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Scott Godzyk might as well sell it....no one is going on vacation this summer....  but they'll buy it for NEXT YEAR....

Apr 03, 2020 06:48 AM #1
Rainmaker
876,749
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Scott Godzyk 

These are 2 very good scenarios on the challenges being faced in this health emergency. The Secure Act did not provide coverage for all. BUT There are still people out there looking for homes and buying selling them. They have made a good decision contacting you

Apr 03, 2020 06:52 AM #2
Rainmaker
3,678,854
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Scott - obviously both owners of these New Hampshire vacation homes have the right idea to contact you when it comes to their real estate questions.  You will be able to guide them and anyone else in a similar situation with options for will work best for them.   

Apr 03, 2020 06:58 AM #3
Rainmaker
3,184,300
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Many are fearing that Barbara Todaro, Many of the vacation investment homes collect rents for 10-12 weeks that pay the whole years mortgage, taxes and insurance, lose summer and lose the home. 

Apr 03, 2020 07:27 AM #4
Rainmaker
3,184,300
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I am very happy they did and hope to help them Doug Dawes, i am sure theese types of inquiries will be increasing

Apr 03, 2020 07:29 AM #5
Rainmaker
3,184,300
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Thank you for the comment Michael Jacobs , i was happy to help and lay out the options. Time will tell

Apr 03, 2020 07:29 AM #6
Rainmaker
3,835,069
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Scott. Boy do I feel for these folks. Stuff is happening that was unimaginable even three weeks ago.

Apr 03, 2020 08:13 AM #7
Rainmaker
5,889,244
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Scott, for telling us about these challenging situations.

Take care and be safe.

Apr 03, 2020 08:39 AM #8
Rainmaker
965,296
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Tough decisions for people as they look ahead, and try to keep some feeling of having control over their fate in the momths ahead.

Apr 03, 2020 10:12 AM #9
Ambassador
3,305,102
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

My vacation property sales and listings are booming. I just need closings...

I find your Market  to be interesting...

Happy Friday Scott Godzyk 

Apr 03, 2020 11:44 AM #10
Rainmaker
1,592,672
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I think we're going to hear a lot more stories like those. Here, there is a large rental market during the summer as well. People come here on vacation to see Glacier National Park, or to hang out in Whitefish or Bigfork. Those rentals are currently on hold, and I expect there will not be a tourist season for most of this summer. Some people are going to be in an unfortunate position.

Apr 03, 2020 12:25 PM #11
Rainmaker
2,779,382
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I suspect a number of folks will begin looking to sell vacation homes.  Financial considerations brought on by coronavirus layoffs, etc.. are bound to take their toll.

Apr 03, 2020 06:47 PM #12
Rainmaker
2,779,382
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!  

Apr 03, 2020 06:53 PM #13
Rainmaker
1,831,782
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

good luck to both couples.  I am sure you will find solutions for both. 

Apr 04, 2020 06:11 AM #14
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Rainmaker
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Scott Godzyk

One of the Manchester NH's area Leading Agents
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