Monthly Archive for September, 2010

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Market Data from the National Association of REALTORS – Report on July Existing-Home Sales

Published on September 9, 2010 in Advice for Sellers and New London Housing Market. 0 Comments Tags: , .

The news was full of sales data from many sides about the sharp dip which existing-home sales took in July on the heels of the expiration of the home buyer tax credit.  However, according to the National Association of REALTORS®, home prices continued to gain.

Existing-home sales, which include completed transactions of single-family, townhomes, condominiums, and co-ops, dropped 25.5 percent from July, 2009.  This meant that the seasonally adjusted annual rate was 3.83 million units in July, 2010, vs. 5.26 million in June, 2010. This is the lowest level since May of 1995.

The total housing inventory increased 2.5 percent to 3.98 million homes available for sale (a 12.5-month supply at the current pace, up from an 8.9-month supply in June); however, the median existing single-family home price was $183,400 in July, which is 0.9 percent above a year ago.

Although existing-home sales in the Northeast dropped 29.5 percent to an annual pace of 620,000 in July and are 30.3 percent lower than a year ago, the median price in the Northeast was $263,800, which is up 4.8 percent from July 2009.
Source: NAR

August, 2010

Tips for Sellers: Adding Value to Your Home Vs. Adding Appeal

Published on September 7, 2010 in Advice for Sellers and New London Housing Market. 0 Comments Tags: , .

If you are planning to sell soon and think that renovations will increase the value of your home, then some research might be in order.  Not all remodeling projects deliver the same bang for the buck when it comes to resale.  Studies suggest that most renovation projects do increase the price of a house, however, the increase is typically less than the cost of the project.  Generally a homeowner will experience a return of 75% to 80% on the dollar at resale.  Some of the more cost effective improvements are major kitchen upgrades, bathroom remodeling, and anything that adds square footage.  Keep in mind that the cost recouped can be affected by the quality of finish and even the type of neighborhood and local conditions.

Probably the biggest advantage that remodeling has is the fact that it increases the appeal of your home to buyers.  A gleaming state of the art kitchen with granite countertops and bathrooms with tile and glass can sell a house more quickly than a home with an outdated kitchen and harvest gold appliances.   You can count on me for helpful tips whether you are buying or selling real estate.  Give me a call!

Donna Forest

Schools are Back in Session!

Published on September 3, 2010 in New London Community. 0 Comments Tags: , , .

The Kearsarge Regional School District: Servicing the Towns of:  Bradford, New London, Newbury, Springfield, Sutton, Wilmot, and Warner

If you are considering a move to the New London area, you may be interested in the local school system, not only as a parent, but also from the perspective that the quality of the schools can have a direct impact on the values of the homes.  As noted above, the Kearsarge Regional School District (KRSD) takes in students from the 7 communities listed above.  There are actually 8 schools including: KRES at New London, KRES at Bradford, Simonds Elementary School, Sutton Central School (elementary), Springfield Kindergarten, James House Preschool, Kearsarge Regional Middle School, and Kearsarge Regional High School (both the latter are located relatively near each other in the community of Sutton.

The School District has an excellent reputation of service to these communities over the past 40+ years.  From the District Newsletter in June, 2010:

“Since its inception in 1969, the Kearsarge Regional School District has often been on the leading edge of creative solutions and professional growth opportunities.  Beginning with the Open Concept at KRHS, the early adoption of our state’s School-to-Work Initiative, a pilot of competency based transcripts in the mid-nineties, eight days of Teacher Professional Development, investment in technology and most recently our “Blizzard Bags” initiative, our school district has embraced opportunities for professional growth, risk taking and change.”

The School District has an excellent web site at:  www.kearsarge.org.  There you will find information on everything from curriculum, sports, educators, bus routes, community education, employment, enrichment, and more.

Searching for a Home?

Published on September 1, 2010 in Advice for Buyers and New London Housing Market. 0 Comments Tags: , .

Here are some helpful tips and suggestions for things to look for when choosing a neighborhood in the New London/Sunapee area, or any area for that matter, which will suit your needs:

1/Visit the area at different times of day. That will help determine things such as traffic patterns, activity levels, noise levels, and the influence of any of the other nearby by areas.

2/Practice your commute to work. It might turn out that one neighborhood’s location might actually add to the cost of the house, depending on the length of the commute, or possibly, increase the frustration level of the ride to work, simply because of the difficulty of the commute.

3/Talk with the locals. There is no better source of information than the people who already live there.  They will be able give you a true sense of the neighborhood.

4/Searching out the details. For information on crime rates, accident incidences, and the like, the local police department can be very helpful.  Also, the internet can be a good resource as well.

5/If you’re looking for a home in a larger city or metropolitan area, www.nabewise.com might be fun to explore.  You can set up a search which addresses some of the more “quality of life” characteristics which you might be looking for (such as trendy, dining, shopping, museums, etc.)

Enjoy your search and don’t forget your greatest resource is your REALTOR®!

Source:  Inman News columnist, Mary Umberger, a freelance writer from Chicago, 8/18/10