RE/MAX Country Properties

Manchester, NH MLS Search

Let Manchester NH real estate assist you in finding the right property to meet your needs from local area homes for sale, foreclosure listings (bank-owned), country properties, land, condominiums and equine facilities -- all through the NH real estate Multiple Listing Service (MLS). Request relocation, school and demographics information.

Foreclosures

Purchasing a home at a foreclosure auction has many risks to a potential buyer. There is commonly no opportunity to view the interior of the property, and in some cases, there are individuals still occupying the premises. Because of these risks, homes in Manchester, NH are not always sold at auction and the bank will instead take possession of the property. The property is then referred to as bank-owned, REO (real estate owned) or foreclosed property.  To receive listings of foreclosed real estate in Manchester, NH go to Manchester bank owned homes.

MLS and Home Search Service

Local RE/MAX real estate professionals can provide new listing alerts, addresses and mapping to all real estate in Manchester New Hampshire. Advanced search capabilities include searches by street, zip code, property style and keywords. Track your favorite listings in Manchester for listing updates, price changes and status updates with your own customizable portfolio.  Visit Manchester MLS for access to all Manchester listings in the MLS.

The New Hampshire home search is easy with "quick search" options to search for NH homes for sale and real estate.  Let us assist you in finding the property that meets your needs. New Hampshire Multiple Listing Service- Search the MLS for all NH property listings.   Go to NH MLS.

New Hampshire Foreclosures and Bank Owned Homes - Register to receive New Hampshire foreclosure (bank-owned) listings and short sale opportunities.  Go To NH Bank Owned

Home Search Service- Home search is a web-based real estate software tool (MLSpulse) that keeps you continually informed of your local real estate market.

With the NH MLS you can browse homes in Manchester by list price, age, property type, square footage, number of bedrooms, bathrooms, garages and more. Individual listings for Manchester NH contain sample photos accompanied by a capsule description, information on tax rate, area schools, street parking and more. Also included is a detailed survey of the property's structural features, including amenities, flooring type, utilities, exterior paneling, architectural additions, insulation, and individual room features. The Manchester Property Search is designed to assist you in your search for the ideal home.

RE/MAX Country Properties real estate agents provide buyer agent services and can be reached at 800-222-2829.

New Hampshire Real Estate Home Search Service

New Hampshire Homes For Sale - NH MLS Search Service

RE/MAX Country Properties provides the consumer with a free service that allows for a thorough and efficient search of the New Hampshire Multiple Listing system for New Hampshire real estate. Our home search service saves you time and provides you with current inventory of homes available through the NH Multiple Listing Service (MLS) that meet your criteria.

MLS home search is a web-based real estate software tool (MLSpulse) that keeps you continually informed of your local real estate market. This service searches for homes for sale, condos, land, and muli-families.  Look at some of the features offered:

• Daily/real time alerts of new listings!
  Delivered by email or thru your desktop.
• Direct access to the Multiple Listing System
  Advanced search capabilities including searching the remarks for items of interest (pools, barn, in-law, views, etc.)
• Property Addresses and Mapping!!!

To sign up for this service click on

 New Hampshire Home Search

 

For a direct search of all NH MLS listings, go to New Hampshire MLS.  If you want to receive a list of New Hampshire bank owned properties, go to NH Foreclosures.  To search for properties in multiple states visit Virtual Homes real estate.

If you have interest in Massachusetts real estate, you may view properties at Virtual Homes MLS for all listings in the MA MLS.

Call RE/MAX Country Properties real estate agents for additional information and services at 800-222-2829.

Nashua, NH - 2009 Market Statistics

Nashua Values and Transactions in Decline

This is the first year since the last recession, that property sales showed a significant drop in value.  For the previous two years the market has been in decline but the average drop in sales prices were less than 4% each year.  View the Hillsborough County 2008 Market Report for additional information regarding the real estate market in the area.

Nashua single family home sales continued the downward trend which began in 2006, the peak of the market.  In 2007 there were 537 homes sold and 486 in 2008.  The average sales price dropped nearly 8% to $268,659.  The DOM (days on market) increased sharply to 101 days.  

Condominium sales were down over 25% from 2007, which was typical of other major cities in New Hampshire.  The average selling price for condominiums sold in Nashua in 2008 fell 10% to $194,163.

Towns Preparing for Compliance with Workforce Housing Law

Communities to Vote on Town Ballot Initiatives  

The new Workforce Housing Law is scheduled to take effect in July of 2009 and municipalities are scrambling to create ordinances for town meeting votes this winter.  Most of the smaller towns hired consultants and some local communities are working with the Nashua Regional Planning Commission.  As a result, many of the towns will not make this year's ballot.

Municipalities with city water and sewer such as Milford, Merrimack and Nashua can easily adapt their ordinances to allow for more density.  Well and septic issues make it difficult for towns without water and sewer systems to increase density as the impact on the land is not feasible.  Therefore, those communities will have to be more creative in their planning.  Increasing density reduces the land cost which results in an overall lower cost to the builder and the consumer.

Some towns, such as Amherst, already have an existing "affordable" housing ordinance and minor adjustments may allow for easy compliance to the new law.  Many communities may choose to play the waiting game as the law does not have a mechanism to compel a town to comply.  The law does provide for a developer appeal to the courts within six months.

The current real estate market conditions are not conducive to tracts of land being sold for development.  Owners that do not have to sell will hold their land for the future and higher prices.  However, there is a market for first home buyers who qualify with the lower interest rates and more affordable housing prices. 

The Workforce Housing Law, if adopted effectively by communities, can provide a stimulus to the housing industry and the economy.  Affordable housing is critical to the economic stability of New Hampshire and we are hopeful each community takes the responsibility to provide housing for all of our citizens.

Stimulating the Economy - The First Home Buyer Controls the Housing Market

There are a significant number of consumers who have good jobs; good credit and need to buy a home (have outgrown their existing housing) to solve a housing need.  Unfortunately, many are unaware of the current FHA programs which offer home buyers a fixed rate mortgage (currently 5%), down payment of 3.5% (which can be gifted and paid back through the $7500 tax credit), credit scores of 580>.

Industry "experts" continually state that "mortgage funds are difficult to obtain; requires a 10-20% down payment and 700+ credit scores."

Two recent interviews:

Places: Today New York Studio
Reporters: Ann Curry
Recorded Date: 2009/01/01

Ms. CHATZKY: "You know, if you are somebody who is sitting with a 10 to 20 percent down payment, with a good credit score--and I mean 720 to 760 or above--now is a great time to buy a home."

Places: New York City, New York
Reporters: Carmen Wong Ulrich, Lester Holt
Recorded Date: 2008/12/21
Media Type: AS

Carmen Wong Ulrich says "Refinance options . . . and we are running to the bank. And I will, too. Here's what you need to know. That when you refinance your home, you're buying it over again. So you need to have the three C's that you need when you buy a home. First, you have to have fantastic credit. Lenders still want you to a have really great credit score, 760 and above, preferably, to get the lowest rates.  ...And what that means is when you buy a home, that you put 20 percent down."

Rates could drop to 3% and it wouldn't matter if buyers didn't know they qualified.

If the correct message (not spin) was heard by the consumer and they understood their opportunity to solve their housing need, we could jump start the market through one million first home purchases. Imagine each Realtor in the US (one million) successfully representing one buyer that takes advantage of the “window of opportunity” (expires June 30, 2009) for the $7500 tax credit.  These transactions would filter up through the real estate economy and "move-up" buyers could buy/sell, builders could build, loan officers, lenders, Realtors, movers, etc. would all be working, earning and spending money further stimulating the economy.

The “talking point” for those in our industry and related should be – A buyer can purchase a home with 3.5% down, a credit score of >580 and obtain a fixed rate mortgage at 4 7/8%.  No bailout, no additional tax payer money, no smoke and mirrors. 

The Effects of the Interest Rates on Buying a Home

We developed a cool tool for buyers and agents to quickly see how the interest rates, based on a monthly payment, effects the purchasing power of the buyer.  In the example below, a buyer qualifies for approximately $50,000 more in a purchase price when the rate drops 2 percentage points.

Six months ago, the rates were 6.75% and now they are 4.75%.  A tremendous savings!  This tool will assist you in looking for New Hampshire real estate and provided by RE/MAX Country Properties real estate agents.

New Hampshire 2008 Real Estate Market Report

Over the New Year holiday, I began compiling and analyzing the data for the 2008 New Hampshire real estate report.  For the second consecutive year, we had "no fall market" as during October and November consumers moved to the sidelines.  The stock market was in a downward spiral, the election and fear of job losses were the major impacts on the market.

What we do know going forward:

1.  Rates are now in the 4.75% range and approaching historic lows.

2.  The Feds will spend/invest a bundle in stimulating the economy and will help the housing market.

3.  We have a first-home buyer incentive in place ($7500 tax credit), and excellent fixed rate financing through the FHA with low down payments (3.5% which can be gifted).

4.  There is a great selection of inventory that is selling for 10% less than a year ago.

5.  It is a great time to buy a home or invest in real estate.

Happy New Year!

Third Quarter Sales Activity for NH

The current economy continues to affect the real estate market in New Hampshire, but certainly not on the levels seen in other parts of the country.  Proving that real estate is local, the sales statistics vary from town to town and county to county.

Single Family Homesales in New Hampshire

All counties in New Hampshire have experienced a decline in home values and sales activity.  Single family homes in Strafford County have lost the most value with average selling prices declining 9.1% compared to 2007.  Hillsborough and Grafton counties both had 8.7% reductions in value.  Sullivan county held most of its’ value, declining only 2%, however the county experienced the greatest decline in the number of homes sold with 26.7% fewer transactions.  Cheshire county was the leader in maintaining sales with only 8.7% fewer transactions than the previous year.

COUNTY	YR	AVG Price	# Homes Sold
Belnap	2007	$365,020	569
	2008	$336,903	448
		-7.70%	-21.27%
Carrol	2007	$328,883	579
	2008	$300,090	475
		-8.75%	-17.96%
Cheshire	2007	$232,751	555
	2008	$224,136	507
		-3.70%	-8.65%
Coos	2007	$139,461	256
	2008	$128,958	221
		-7.53%	-13.67%
Grafton	2007	$269,638	668
	2008	$265,884	518
		-1.39%	-22.46%
Hillsborough	2007	$313,751	2517
	2008	$286,432	2134
		-8.71%	-15.22%
Merrimack	2007	$276,584	1061
	2008	$254,678	805
		-7.92%	-24.13%
Rockingham	2007	$370,132	2035
	2008	$343,813	1779
		-7.11%	-12.58%
Strafford	2007	$267,321	870
	2008	$243,052	681
		-9.08%	-21.72%
Sullivan	2007	$241,256	363
	2008	$236,586	266
		-1.94%	-26.72%

                         

Condominium Sales in New Hampshire

Hillsborough and Rockingham counties, the most active in the state, both experienced substantial fewer transactions but Strafford county had the greatest percentage loss of sales with 40.5% fewer condos sold in 2008 versus 2007.  Of these counties, Strafford had the greatest decline in value with -6.1%

COUNTY	YR	AVG Price	# Homes Sold
Belnap	2007	$206,453	187
	2008	$181,776	117
		-11.95%	-37.43%
Carrol	2007	$232,325	111
	2008	$196,829	97
		-15.28%	-12.61%
Cheshire	2007	$164,985	55
	2008	$224,136	32
		6.80%	-41.82%
Coos	2007	$113,417	6
	2008	$182,500	2
		60.91%	-66.67%
Grafton	2007	$188,013	262
	2008	$218,316	192
		16.12%	-26.72%
Hillsborough	2007	$201,902	1278
	2008	$191,678	720
		-5.06%	-43.66%
Merrimack	2007	$188,795	319
	2008	$187,586	183
		-0.64%	-42.63%
Rockingham	2007	$244,491	926
	2008	$230,253	655
		-5.82%	-29.27%
Strafford	2007	$186,308	232
	2008	$175,044	138
		-6.05%	-40.52%
Sullivan	2007	$321,719	25
	2008	$246,691	24
		-23.32%	-4.00%

                               

*Information are statistics reported through the Northern New England Real Estate Network (the statewide MLS system) and compare sales activity from 01/07-9/30/07 and 01/08-9/30/08. 

Managing Your Agents' Mindsets

It is no wonder that consumer confidence is at an all time low with the stock market in flux, credit tightening and the government introducing various financial “bailouts” for our financial and insurance institutions.  Qualified buyers are waiting on the sidelines hoping to obtain bargains at the bottom of the market.  As a broker/owner, my management challenge is to motivate my agents to do what they do best — list and sell real estate.  My responsibility is to provide a path or a course of action that will result in agents having success in this market. 

Since we can’t control the market, our focus is on market share.  Agents must work on activities that will increase their business opportunities. In addition, agents must believe that the outcome they want will happen.  An agent’s mindset is critical in communicating the opportunities to qualified buyers. 

There will be a substantial number of transactions that will occur by the end of the year.  How will we get our share?

Here are some business activities that will lead to successful transactions:    

1.       Target first-home buyers and move ups.  These are buyers and sellers who have the most motivation to take advantage of the market.

2.       Develop relevant messaging for consumers on topics like current market data, financing options, etc.. Communicate this information in a clear, concise and timely manner. Establishing yourself as a source of information consumers can trust will benefit youm in the long run.

3.       Provide training and education to you agents. For example, agents must have a working knowledge of the new FHA programs ($7500 tax credit), and the tax benefits of home ownership.

4.       Identify the motivated, qualified buyers.  Filter your database, re-connect with your past customers and clients and present the opportunities.  Call all of them.

5.       Participate in networking events with other agents. Social interaction that allows agents to talk (or even vent) and listen to others having success is a great way to keep agents in the game.

6.       Offer incentives. Partner with lenders and title companies to offer consumers incentive packages such as $1000 Off Closing Costs.

Consumers receive information from a number of sources including the press, friends and family.  As the real estate professionals, it is our responsibility to make sure they have information they can trust so that they have the ability to make an informed decision.