NuzzRE » NH real estate

September 2009 – The New Hampshire Real Estate Market

Michelle — Mon, 19 Oct 2009 20:32:16 +0000

Can you believe it is the middle of October already? It will be very interesting to see how the numbers look for the next few months now that the summer buying season is winding down.

Quick Stats:

Pending sales in both Belknap and Carroll Counties are up! Carroll County saw a 1% increase (hey, it is an increase!) and Belknap County rose 8%. Sales in Carroll County rose 6%, while the number of sales Belknap County sales dropped 15%.

Median Sales Price:

Whoops. The median sales price dropped by about 10%. This could be caused by some summer end price drops, or sellers accepting lower offers because it was getting towards the end of the selling season.

Average Days on Market:

The Average Days on Market in Carroll County was a super low 145 days this month! Lets see if this low number turns into a trend!

Absorption Rate:

I absolutely believe that the absorption rate is one of the most important stats to look at … and it is looking good! Hillsborough County is down to a very respectable 8.4 months! Considering that six months ago we were seeing counties with absorption rates in the 30s, this is pretty impressive! Rockingham County is a 10.7, Strafford County is 11.4, and New Hampshire as a whole is at 12.3 months. Not too bad! Coos County currently has the highest rate at 20.3, with Carroll and Belknap Counties just under it at 19.7 and 18.4.

The Absorption Rate trend is certainly going in the right direction. Keep dropping! Keep dropping !

July 2009 – The New Hampshire Real Estate Market

Michelle — Thu, 13 Aug 2009 15:43:59 +0000

Can you believe it is August already? The July New Hampshire Real Estate Market statistics courtesy of NNEREN are in! And…you know what? They are not too shabby!

Quick Stats:

There are still plenty of properties on the market, no doubt. However, Carroll County pendings are up 11% from last month, and current closings are up 5%! Up is good, up is good. Belknap County did not fare quite so well with pendings down 5% and closings up about 1%, but still, we have definitely seen worse!

Median Sales Price:

The Median Sales Price is down again and quite a bit off of last year, but this is simply the effect of low priced foreclosure sales. THIS POST shows that quite clearly for the month of June. In order for the housing market to recover, the price of houses does not necessarily have to increase. The number of houses selling does!

Average Days on Market:

The Average Days on Market for Carroll County has leveled off with last year`s number. Hopefully this is the beginning of it settling down a bit and dropping!

Absorption Rate:

And, most importantly, the Absorption Rate. I absolutely feel that this is the most important number to look at, and the rate is down across the entire state! The rankings have not changed… Carroll and Coos still lead the pack with 28.5 and 27.4 months, and Hillsborough is still the lowest with an almost-respectable 12.9! Maybe we will see a single digit rate in a few months… ?

Absorption Rate over Time:

Overall, the July 2009 statistics for New Hampshire are …ok! It will certainly be interesting to see what August brings.

Statistics Copyright 2009 Northern New England Real Estate Network, Inc. The reproduction of these statistics is done with the permission of NNEREN. The statistics referenced herein are based solely upon listings submitted to the multiple listing service database of NNEREN and do not include all properties sold and marketed for sale. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. Any analysis or commentary related to these statistics is that of the commentator, and not that of NNEREN.

June Homes Sold – A Study

Michelle — Mon, 03 Aug 2009 15:09:28 +0000

Today I am in a numbers mood. So… I thought I would play with stats. As it is the last day of July, this month`s numbers are not quite complete, so I used June.

This following shows the June numbers for the last five years. The important numbers are the median price, the number of sales, and the total sales volume.

The number of sales is down 37% from June 2005 to June 2009, while the sales volume is down 45%. Looking a little closer at those sales numbers…

Sales up to $100,000 – UP 166%
Sales $100K – $200K – DOWN 32%
Sales $200K – $300K – DOWN 60%
Sales $300K – $400K – DOWN 22%
Sales $400,000 and up – DOWN 47%

The incredible jump of homes less than $100,000 is foreclosures. No doubt about it. And the $200,000 – $300,000 homes have taken the brunt of the downturn, which is pretty evident when you look at recent activity. Take real estate sales in Tuftonboro, for example. There are currently 40 properties on the market between $200,000 and $300,000, and only one lonely pending sale. Over the past 12 months, there have been four sales in this price range. Compare those figures with the $300,000 – $400,000 price range, with only 13 active listings, one pending sale, and seven sales in the past year.

The good news? If you are a buyer and are looking in the $200,000 – $300,000 price range, you certainly have the pick of the litter! If you are a seller (like one of my clients), well, competition is tough. BUT, homes are selling. Price it right and make sure your agent is advertising on the internet and is there for all showings. The summer selling season has really just begun!

CustomNHHome.com

Michelle — Thu, 30 Jul 2009 20:11:15 +0000

I am a self-proclaimed nerd, and I love to tweak my websites. In my mind I have plans for…oh…at least a dozen more sites. The only thing delaying me is that whole `26 hours of work to do in this 24 hour day` thing comes into play, as well as my completely self-taught `skills` (*ahem*) of web design and code writing.

This past week I did manage to get up a new website about one of my favorite listings, 595 Maple Grove Road in Madison NH. This home was built in 2001 with all the nice perks like radiant heat in the flooring, central vacuum and high end kitchen appliances. However, walking in it has the look and the feel of a wonderful older home. From the custom cabinetry with punched tin accents and a soapstone sink in the kitchen to the two Rumford fireplaces and the charming screened porch, this house is just lovely. I do not use the term `lovely` very often, but it is indeed the term that comes to mind when I show this house.

Check out the website at www.CustomNHHome.com and let me know what you think!

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June 2009 – The New Hampshire Real Estate Market

Michelle — Tue, 21 Jul 2009 14:45:07 +0000

Well, it is officially summer! It will be very interesting to see what the summer real estate market will have in store for us.

Quick Stats:

As usual these days, there are plenty of active listings to go around. Both Carroll and Belknap active listings are up about 7% over last month, but that is to be expected with new listings coming on for the summer. Carroll County had a relatively strong month with Pendings increasing 7% and closings increasing 35% (woot, woot!!), while Belknap did not do quite as well with Pendings down 15% and closings down 10%. Come on Belknap, stay with us!

Average Sales Price:

The Average Sales Price in Carroll County is down to $169,900. It was $179,000 the prior month and $200,500 this time last year. Average Days on Market:

This year Carroll County is quite sporadic with regards to the average time on the market. As you can see it has been quite up and down for the past few months. This month`s downward trend is a good sign… let`s hope it continues!

Absorption Rate:

And…the ever important absorption rate. Carroll and Coos still have the highest rates with 29.5 and 28.6 months of inventory on the market, respectively. Hillsborough County once again has the lowest rate with 14.2 months.

The rates are up pretty much across the board. I would like to think that it is because of the influx of new spring/summer listings. We shall see!

The State of the Nation`s Housing 2009 – Harvard University

Michelle — Tue, 23 Jun 2009 15:44:28 +0000

The Joint Center for Housing Studies at Harvard University just released the `The State of the Nation`s Housing 2009.` If you enjoy facts, figures, statistics and charts galore like I do, this 44 page doozy is a great source of information! They do not paint a very pretty picture of the housing market, but I think most of us would have been mighty surprised if they had found differently.

If you are so inclined, the entire report can be found here. Otherwise, I have summarized some of the more important points for you.

THE MARKET:

• New home sales have dropped about 60% from 2005 to 2008

• Existing single-family home sales are at the lowest level since 1997. In April of 2008 there were 4.85 million sales, while in April of 2009 there were 4.68 million.

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• There were 81,900 manufactured housing units shipped, the lowest number since 1959 when record keeping began.

• Homeowner vacancy rate hit an all time high of 2.7 percent. Homes built since 2000 had a vacancy rate of 9.7 percent.

FORECLOSURES:

• 3.9 percent of one- to four-family loans was in foreclosure. 8.8 percent were at least 60 days past due, which means that they are well on their way to foreclosure.

• 3.2 million homeowners entered foreclosure in 2007 and 2008, and 600,000 entered foreclosure in just the first quarter of 2009.

• 14 million households were upside-down in their mortgages in March of 2009.

• Foreclosures accounted for 30 percent of existing home sales in the 4th quarter of 2008 and short sales accounted for an additional 15 percent.

• 46 percent of the national total of foreclosures are in California, Arizona, Nevada and Florida.

• Of the loan modifications that lowered payments by 10 percent and more, 1/5 were at least 60 days delinquent within 60 days.

FINANCING:

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• 74 percent of the loans originated in 2008 were guaranteed by a federal agency, Fannie Mae, or Freddie Mac.

• FHA and VA originated 7 percent of loans in the fourth quarter of 2007, and 34 percent of the loans in the fourth quarter of 2008.

• A household that could have qualified for a $482,000 loan in 2005 could only be approved for $277,000 now.

HOME AFFORDABILITY:

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• The number of households that pay more than 1/2 of their income to housing jumped from 13.8 million in 2001 to 17.9 million in 2007.

• Nearly 1/2 of working age households with incomes 1 to 2 times the federal minimum wage spent more than 1/2 their incomes on housing.

• NO household earning minimum wage can afford a modest two bedroom apartment anywhere in the United States.

OTHER GOODIES:

• If every home was as energy efficient as homes built since 2000 have been, residential energy consumption would drop 22 percent!

• Between 2001 and 2007, $874 billion of home equity was cashed out to pay off non-mortgage debt.

WHAT DOES THAT MEAN FOR US IN NEW HAMPSHIRE?

Housing is a LOCAL phenomenon. Here in New Hampshire most of us have been lucky enough to escape the brunt of the housing downturn. Is it the opportune market to sell in? No, not really. Is is still a great time to buy? Yes, of course!

The market will return. We should feel blessed that did not see the downturn that California and Florida had. I am certain that next year`s Housing Report will be a bit more uplifting!

May 2009 – The New Hampshire Real Estate Market

Michelle — Wed, 17 Jun 2009 14:24:55 +0000

The NNEREN May Stats are out! Time for the monthly review of New Hampshire Real Estate stats!

Quick Stats

As usual…. lots o` active listings in Carroll County. Pending sales are up from last month nearly 25%, though! Sales are down just a bit, from 68 to 57.

Average Sales Price

The average sales price has gone up! Still a bit off of last year, but up is good. Up is very good.

Average Days on Market

The Average Days on Market has been up and down as of late. We are currently at 211 days which is a bit higher than we would like to see! Hopefully we can see this number drop as we come into the summer selling season.

Absorption Rate

The almighty absorption rate… As a whole, New Hampshire had a significant drop over last month, going from approximately 24 months worth of inventory on the market to 18. That is definitely headed in the right direction! Carroll and Coos Counties currently have the highest rates, at 28 and 27 months, respectively. Hillsborough County is down to 14 months!

Absorption Rate over Time

All in all… not too shabby! Properties are starting to go under contract and sell, and more higher priced homes are selling as well. Price it right, and it can be done!

April 2009 – The New Hampshire Real Estate Market

Michelle — Thu, 14 May 2009 15:29:56 +0000

The Northern New England Real Estate Network has put out their April statistics! That means it is time for the monthly review of the New Hampshire Real Estate Market.

Especially in today`s real estate climate, knowing what the market is doing is imperative to making smart decisions when it comes to buying or selling your New Hampshire property. Looking for a particular statistic you do not see here? Contact us and we will do our best to research it for you!

Quick Stats (Carroll County):

As usual these days, there are plenty of listings to go around. However, while the number of active listings is up about 15%, there are almost double the amount of pending or contingent listings than last month (98 vs. 50), and closings were up 28%. Looks like a spring rush to me!

Average Days on Market:

Looking at the Average Days on Market is a quick way of determining how ‘soft’ the market is. Days on Market records how many days properties were actively on the market before they were sold. Generally speaking, the higher the DOM, the more likely it is a buyer’s market.
Do keep in mind that this number can be skewed in a number of ways. If a seller decides to take his property off the market for the winter, or decides to switch REALTORs, the DOM for that property will return to zero. It is common for properties that do not have accurate asking prices to come on and off the market numerous times. If yo have any questions about the accuracy of a property’s DOM, be sure to ask your REALTOR to research.

You can see that April’s DOM dropped quite a bit and is significantly lower than last year. At 154 days it is still longer than we like to see, but it is an improvement over last year’s 201! I would like to think that this is because some sellers putting their property on the market in the past few months have been realistic with their pricing. If it is priced right, it will sell!

Average Sales Price:

As you can see, the Average Sales Price has been lower than last year’s for the past few months. Do keep in mind, though, that this not necessarily mean that the same house is going for less this year than it did last year. It could also point to the fact that more less expensive homes are selling, and fewer more expensive homes are selling.

Absorption Rate:

In my mind, the Absorption Rate is the king of all real estate statistics. Simply put, if you have 50 homes on the market and 10 buyers per month, you have five months worth of inventory. From a seller’s point of view, the less inventory you have, the better!

A five month inventory would be nice… but not reality these days. The absorbtion rate has been steadily increasing since the start of the year. Grafton and Coos counties have the highest rates, with 33.2 and 32 months of inventory, repsectively. Hillsborough has the lowest rate as usual with 18.9 months.

Overall, there has not been significant change – for the worse or for the better – over the past few months. It is still a great time to buy, but also a great time to sell as long as you price correctly!

13 Acres, frontage on both Ossipee Lake and the Bearcamp River!

Michelle — Thu, 30 Apr 2009 09:49:07 +0000

This lot has SOLD!

If you are looking for that unique piece of land with ultimate privacy, look no further!

First of all, is a little history on this lot. Maxwell Foster donated the surrounding acreage to The New England Forestry Foundation (http://www.newenglandforestry.org) in 1977. He kept the logging road down the center of the lot and acreage right in the middle with both lake and river frontage as his own private getaway.

The entrance to this lot and to the Bearcamp Woodlands, as the conservation lands are called, is at the intersection of Rt. 16 and the northern entrance to Jewell Hill Road in Ossipee. You can see the logging road running both from Route 16 and from Jewell Hill Road. The lot itself starts about 50 feet in (there is a deeded right of way over that first 50 feet of town land).

This lot owns the 0.8 mile logging road to a width of 50 feet. It has not been used for much other than foot traffic for quite some time, so although I have had buyers drive 4WD vehicles out there, lets just say I would not take my car. The logging road winds around and through some wetlands, and there have been deer, moose and bear sightings along the way.

Eventually the logging road meets up with the Bearcamp River, and follows it for quite a ways. The river here, is wide with a beautiful sandy bottom, perfect for swimming! This lot owns a few hundred feet on both sides of the river. I can honestly say that I have never been on the opposite shore. One would have to swim to get there and although I am a very hard working, dedicated real estate broker, this might not happen until the water warms up a bit! There is 3 acres on the other side of the Bearcamp River, and the town has it listed as an island as the river apparently runs on both sides of it at least part of the year. Years ago there was a small cabin at the river`s edge, and you can still see the foundation where it used to stand.

Just past the river frontage, path leads onward to 50 feet of Ossipee Lake frontage. The lake here is marshy, so the river frontage might be better suited for a dock. Your river frontage is just around the corner from it`s entrance into Ossipee Lake.

Although this property will not support a traditional septic system, it would made an amazing family camping spot for generations to come, or they may be some septic alternatives available. You will never have a neighbor on this lot!

For more information on this wonderful lot, please call or email Michelle at The Red House Realty Group!

Quick Stats:
MLS # 2765252
Asking Price: $79,000
Total Acreage: 13.20 acres
Frontage on both the Bearcamp River and Ossipee Lake

Proudly Brokered and Advertised by:

595 Maple Grove Road, Madison NH

Michelle — Fri, 24 Apr 2009 11:02:03 +0000

Walking into this 2001 reproduction cape in Madison NH and you feel…. at home.

Lovingly built by the owner’s son-in-law in 2001 to look and feel like a cozy farmhouse, fine attention to detail is all around you.

This home boasts two Rumford fireplaces sure to keep you warm on those chilly evenings. Tall and narrow, built to reflect the maximum amount of heat into the room, each Rumford fireplace is accented by beautiful paneling above.

Wonderful kitchen with plenty of cabinets lovingly crafted by hand. Large center island houses a dual fuel stove and extra counter space. Open to the loft area above, gorgeous beams add character and interest.

Soapstone sink and counter tops, windows looking out over perennial gardens.

The first floor master includes a walk in closet and bath with railings and two vanities. Plastered walls give old world charm, and first floor laundry is right around the corner. .

This wonderful sunroom was created with barn boards from the seller’s farm in Sanbornton, NH. Perfect as dining area or breakfast nook, this room is wonderful year round.

This cozy screened porch on the shady side of the house, perfect for relaxing on those hot summer afternoons.

A peaceful garden path winds away from the house, nestled in the middle of the 3.71 acres.

MLS # : 2772632
Offered at $309,000- 2,058 Square Feet
- 2 Bedrooms, 2 Bathrooms
- 3.71 Acres
- Attached 2 car garage
- Built in 2001
- Central Vacuum System
- In-floor radiant heat
Proudly Brokered and Advertised by The Red House Realty Group. Contact Michelle for more information!
The Red House Realty Group
Michelle Hansen Nuzzelillo, Broker/Owner
Office (603)367-1037
Fax (866)428-1195
nuzzre@gmail.com
www.YourRedHouse.com