According to CNNMONEY in a July industry report, home prices have not only reached their bottom but are bouncing back upward. Across the country, home values rose 0.2 percent when figures are compared year-over-year. Nationally, the median home price was $149,300 during the second quarter, which provides the very first annual increase since 2007. (First quarter prices rose 2.1 percent.)

This has real estate experts across the county saying, “The worst is over … really!”

Foreclosures remain and will continue to come onto the market, but experts predict that buyers’ increasing demand will absorb these listings and things will eventually balance out.

Locally, the state’s year-over-year median price points are increasing in many New Hampshire communities. Stratham currently ranks in the top position with an increase of 33.08 percent in its median price for single-family homes. Following that remarkable increase are the beautiful oceanside towns of Rye with an increase of 13.40 percent and Hampton at 12.6 percent. Holding on to a solid price increase is Portsmouth at 10.40 percent and Derry coming in at 10.01 percent.

So what does this mean? Well, though not all N.H. communities are experiencing the increases in home prices yet, a trend is being seen throughout the state and around the country for home prices to continue to rise.

This means that now is an excellent time to buy! The smart buyer looks to purchase a home at a great price but also in a period where that home will continue to slowly increase in value. It is also financially wise to purchase before prices rise so that you actually obtain the best price. This is a point in time where waiting to purchase could cost you because that home you dream of will likely cost more a year from now.

For homeowners weighing their options on whether to sell and move, you need to remember that though you may get slightly more money for your home if you put off listing the property, you will also pay more for your next home if you wait.  In other words, your home’s sale price may increase but so will the home you wish to purchase. On the bright side, the latest market trends indicate a healthy recovery so it is a great time to sell your house and find that perfect new home.  Interest rates are at a record low, so you will probably be able to afford more home!

What should you do first? The first step is choosing a REALTOR® you can trust to make the process as easy as possible while looking out for all your financial concerns. The next step is getting pre-approved for a loan, so you know how much house you can really afford and so you can prove to any seller that when you make an offer on their home, you are a serious buyer with buying power.

Next you need to decide what it is you are looking for in a new home and what communities you wish to consider. Prudential Verani offers town profile websites, like this one for Portsmouth, NH, that assist buyers who wish to check out current market conditions as well as get a feel for what each community is like, details about their school system and even travel-commuting distances.

Once you know what you are looking for and what communities you wish to look in, the next step is viewing a few homes on the market. Your REALTOR® can make this an exciting and fairly easy process, so listen to their advice and get started now to get the best value.

Guest post by Sonia Gauthier of Broker’s Title and Closing

Most consumers rarely know or understand what a title company is until they purchase real estate. There are many title companies and closing attorneys to select from however, the choice of what firm/company to use is ultimately a buyers’ decision.

A title search is the legal research of the title to the property. It is conducted by the title company’s abstractor at the Registry of Deeds in the county where the property is located. This search typically goes back 35 years and determines that the prior conveyances of the property were done correctly. It also makes sure that any mortgages or liens recorded against the property are paid off and/or discharged at the closing. Typically your Realtor and/or mortgage loan officer will may refer you to a title company but it’s always best for a buyer to call and speak with someone directly at the title company. You should ask what the fees are as well as any other questions that you may have regarding the closing process. Understanding what a title company does and what their role is helps educate and prepare a buyer for closing.

For more information, contact Broker’s Title & Closing, LLC, at (603) 434-1414. We would be happy to assist you!

According to a national market analysis completed in May, national home values rose for the third month in a row, climbing 0.5% from April to May. And that trend continues at a much more impressive pace at the local level, with home values either holding relatively steady or on the rise in many areas of New Hampshire. In fact, real estate in the Granite State is truly on the move.

In May, Portsmouth real estate sales experienced:

• Unit sales are up 58.3% to 19.
• Median price in May was $315,000. This is up 19.2% from $264,250 in May of 2011.
• Price per square foot is up by 5.1%.

No other town in Rockingham County performed better. And as far as communities go, Portsmouth offers a lot in terms of a safe, walkable friendly city for a family to settle in and call home.

In the city of Manchester, real estate news includes:

• New listings in May up 9.9% from May of 2011.
• YTD sales/list price ratio is up 1.2% to 97.1%.

And in Other Towns In Hillsborough County:

• Unit sales in Pelham are up by 62.5%.
• Average days on market in Goffstown are down 45.1% to 62.

This means more and more people are becoming home buyers. Want to learn more about Portsmouth, Manchester or other N.H. communities before you begin your own search for a new home?

Prudential Verani has taken the initiative to make “community shopping” simple and interesting for today’s buyer who wants to make an educated decision about where to shop for a home. Town profiles are a part of Verani real estate websites including: portsmouth.verani.com, exeter.verani.com, manchester.verani.com, nashua.verani.com and many, many other towns and cities throughout the state. There you will find not only listings of homes for sale in the community, but you will get a feel for the history and cultural attractions, how many people live there, and the structure of their school system. You will learn where it is nestled within the state and how long your commute to work, neighboring communities and the airport will be.

What do the statistics actually say about the New Hampshire housing market right now?

• Market experts expect that in the state of New Hampshire, housing values will hold steady or slightly increase by the end of the year. This suggests that the real estate market will be moving upward in the coming years.
• Most agents reported that their market reflects a good supply of homes for sale – a buyer’s market.
• Realtors reported that sellers are getting close to their asking price, and in some cases there is multiple offers to choose from. This indicates sellers are being realistic, buyers are ready, and values are holding steady.
• Interest rates are still at a record low and lenders have several programs available to fit the needs of those with little money to put down or even poor credit. Home ownership is an investment – buy low and sell high.
• There are a good number of new listings on the market right now, so inventory is good and sellers generally have things priced well in order to get those offers.
• Prices are holding steady or at a slight increase over last year which means buyers today are getting the best price with room to grow equity as the market makes it rebound. In other words, what you buy now should be worth substantially more in ten years time or less.
• As a homeowner you get tax breaks such as deducting your mortgage interest, or tax credits if you make energy efficient upgrades.

Your investment:
Keep in mind that the average appreciation rate in a normal real estate market is around 6.5 percent a year. That means a home that you buy for $150,000 now could possibly sell around the $240,000 mark ten years from now.

Buyers seem to be attracted to smaller homes these days. It may be a result of the financial climate causing a conservative approach to buying homes, or people no longer want to live in “Mcmansions”. Either way, the new construction industry has been focused on smaller more efficient homes with more amenities. It all makes sense in order to maintain an affordable lifestyle in an ever changing real estate marketplace, and people want newer homes at a reasonable price. Cozy is in!

How space is saved
A smaller home can offer a more efficient use of space and can be built on smaller lots. Because lot costs are typically 25-30% of a house cost, the need to purchase less expensive lots to offer more affordable homes to buyers is key. People are looking at a reduction in spaces that they seldom use. Homes are being designed with fewer hallways as it can be considered wasted space, more flex space areas that offer versatility in their use such as a room could be a bedroom, study or in home office. Living rooms are almost obsolete in homes as they are rarely used and buyers will sacrifice a formal dining area for a larger kitchen/dining area for entertaining. Putting more energy in the design and layout is important and planning ahead such as a great outdoor space can become an outside room for entertaining.

Imagine having 325 acres as your backyard and enjoying trails for four season activities with no additional tax burden for the land use! In Nashua, Mine Falls Park is a gem for those who have discovered its natural beauty with forest, wetlands and open fields to enjoy walking, boating, fishing, cross country skiing or biking. To explore more, visit http://merrimack.wildnh.com/minefallspark/ and for a trail map, you can access http://tinyurl.com/62ydr28.

Since the late 1960’s, plans began in order to capitalize on this space which is bordered by the Nashua River and the old Millpond canal system. In the 1980’s and 90’s, parts of Nashua were determined as historical sites and placed on the National Register of Historic Places as well as the park trails were designated as part of the New Hampshire Heritage Trail system which extends along the Merrimack River from Canada to Massachusetts. Where can you find an urban environment with a natural feel at your doorstep? Nashua has been recognized twice as Money Magazine’s Best City in which to live and with beautiful public spaces like this, it is not a surprise.

A community which is a short walk away to Mine Falls pristine setting is at exit 5 is The Village at Mine Falls is which is a new community of detached condominium homes . Offering homes with first floor master suites, sunrooms and quality features that are considered upgrades elsewhere, this small enclave of 40 homes is located on a cul de sac with low monthly fees. With the park so close to home, you will have easy living and a carefree active lifestyle. Sales information is available through www.villageminefalls.com.

So if you want to explore what Nashua has to offer and drive a short distance, come and experience Mine Falls Park!

As a Realtor I recognize how important curb appeal is to a buyer. What some may not understand are the reasons some homes feel more appealing then others. When the front door is used, Feng Shui says that it brings energy (chi) into the home. In Feng Shui the front door is one of the most powerful and important aspects of the entire property.

Abundance, blessings, opportunities, and good fortune are all said to enter through the front door. Some simple, yet basic Feng Shui principals to recognize here are:

• The front door should be easy to find.
• Pathway and stairs should be wide and clutter free.
• The door should be in good working order, easy to open and close and it should have a key.
• It should be freshly painted.
• It should have a light.
• The welcome mat should be clean.
• There should be no clutter inside the entryway.

These sound easy but sometimes its hard to find the front door, depending on how the house is on the lot and where the driveway comes in. It maybe overgrown, have no key, be nailed shut or have no stairs. Many times we don’t use our front door on a daily basis, instead coming in through the garage or side door to the kitchen or mudroom. When showing a home it would be best to use the front door when possible. It really does play a big role.

Tammy Verani -  Note Rate versus APR

Many people get confused about what the difference is between a Note Rate and APR when applying for a home loan.    In this short video Tammy Verani from Residential Mortgage Services Inc., explains the difference and why it’s important to know.

Tammy has done a few informative videos on the Mortgage Process and if you are thinking of buying a home these are a must watch!

Home Buying Videos

The Mortgage Process | How it all works

Pre-Qualification and why you need to get one

Contact Tammy for more information : (603) 232-9617 Direct

Starting the home search process… be sure to start right here on our website >>>  Home Searching Made Easy 

Thank you for reading and be sure to “like” and leave a comment below with suggestions on future Blog posts and videos!

Thank you,

Monika McGillicuddy, NH REALTOR

You are moving, how exciting! Your home is clean and partially packed for showing. The entire family is looking forward to moving… Or are they?

What about your pets? This can be a very frightening, stressful time for dogs and cats alike! They do not understand why everyone is bustling around, packing belongings, and sometimes don’t have as much time to spend with them. Soon strangers will be walking around in their home! What if that sneaky cat takes advantage of potential buyers and runs outside!

As a REALTOR and emergency veterinary technician, I have seen many of these stressed animals. The owners often could not understand why ”Max and Mittens” were acting depressed or have started undesirable habits. Making your pets feel comfortable and safe during this time can often stop bad habits before they start.

• Why not make showings a special time for you and your dog(s). Take them for a ride in the car or a walk. Or even combine the two, take a ride to a park and then walk around for a while. This will help diminish some of your stress too.
• Do you have to work during the day and want to allow the house to be shown while you are out? Several boarding facilities and groomers now offer day care. You can choose to set up for daily visits or as few as once per week.

Pre-Qualification

Mortgage Information can often be confusing and over whelming.   As a REALTOR I am often asked questions by consumers, not only about the home buying process but also about the mortgage process.  So, I thought it would be a good idea to have a mortgage professional answer some of those mortgage related questions via video.

Tammy Verani from Residential Mortgage Services  agreed to talk about Mortgage Pre-Qualification, why it’s import, what the process involves, how  to prepare for it and what a good pre-qualification really is. This is important information that every home buyer needs to know and have before they actually start the home buying process. Visit Tammy’s blog at http://www.tammyverani.com for more information and be sure to check back here as we will publish a a series on Mortgage Information for consumers.

Tammy Verani from Residential Mortgage Services Video by Monika McGillicuddy