On many levels, New Hampshire’s financial well being is the real estate market. Not only are our tax revenues derived from the sale and assessment of real estate, our home owners also have a vested interest in what is taking place in the market and where we stand versus years past. The chart below shows the home sales for the first two months of 2012 versus 2011. The trend that was predicted in December of last year has played itself out so far in the first 60 days of the year: many more homes sold at slightly reduced or even pricing.
Many Realtors® feel that although we are experiencing some problems, the road to recovery has begun.Home affordability is at an all time high, if you are planning on staying in one place for more than 4 years, you have a steady job, good credit and a good savings than purchasing a home is the right path for you as a home buyer. Taking advantage of today’s market is the best long term investment a buyer can make. With interest rates at an all time low a family who was looking for a home a year or more ago can expect lower interest rates today, and their monthly payments may end up being lower as a result.
Now is the time for home buyers to take advantage of programs such as USDA’s Rural Development financing programs or NH Housing grants for those who qualify and FHA now qualifying people with as little as 3.5% down. Also many credit unions and banks are offering special financing in their local communities.
For many families this market is creating an opportunity to purchase a home for much less than before.Many analyst hope that with all these opportunities we may see a positive change to the Real Estate market in the future.
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