FEELING LUCKY? Did you ever dream of winning the lottery?

So you may have missed the big one last Friday. I know we all bought a ticket… if for nothing else than to just dream of what could be. But we are giving you a second chance at playing the lottery.

 Real Living The Norwood Group is hosting a contest beginning March 27^th thru April 13^th.

“212 Chances to Become a Millionaire in 2012”.   

This campaign will consist of an insert which will be placed in the Amherst Citizen on March 27^th. 

At no obligation/no cost the readers can tear off the bottom sheet and mail it back (postage paid).  All inserts returned will be put into a box. On April 27^th 2012 at 4:00P a name will be picked and the winner will receive 212 lottery tickets for a chance to become a millionaire in 2012. The winner will then be invited to come to the Amherst office to collect their 212 lottery tickets with the hopes of receiving that winning ticket.

Many of the agents of Real Living are extremely active in their community and are excited about the contest as a fun way of giving back. We are looking forward to the contest drawing and meeting the winner.  We would like to wish all the contestants the best of luck.

Trends in NH Real Estate

The January 202 New Hampshire residential numbers are in...volume is up in Hillsborough County and across the state. With the current interest rates and great value in homes today, we expect to see more of this for the rest of the year.

What do you think?

Check out the report here

Back to the Future? 1991 vs. 2011

The Holidays and 2011 has come and gone. Leap Year Day  and the New Hampshire Primary and has come and gone.  Housing was used as a wepon by both encumbants and hopfulls this primary season, but as the snow settles, lets now look back at what really is going on in the state and around the corner.

To do this, lets pull the lense back. Back a few years to 1986, not because of the great year for Boston sports, but because it was a great year for New Hampshire Real Estate. With 58,000 total real estate deed transfers in the state that year, it was the highest on record and the lowest foreclosure percentage in the 35 years, we have had this statistic measured. In the five years that followed we saw the foreclosure rate rise (to higher levels than our current challenges) and the transfer of property seize up. From 1991 through 1996 our real estate market expanded. Total property transfers increased by almost 20%; the total percentage of foreclosure transfers dropped from a peak of just under 20% to almost 6%; interest rates dropped for a 30 year fixed by 2.5% and our state created almost 50,000 jobs. 

So what does this history lesson tell us? What does where we are today have in common with our non so distant past of the early ninties? What is different?

For starters consider the graph below. While the total transfers of real estate in the state is not the only measure of recovery it is a good indicator of what consumers and corporations are feeling in terms of confidence to make a long term purchase. What we feel is similar is the increase in total transfers of real estate from 2009 through 2011.

Real estate is a reaction to stability and the comfort people have in choices. Not shown on the above graph is the 20,000+/- jobs that have been created in the state since December of 2009. Also not show is the decrease in a 30 year fixed interest rate by about a half of a point over that same span. We see this all as a positive indicator. Recessions and recoveries are cyllical and we see this year as a turning point for that recovery in the state.

No analysis would be complete, however without a look at some of the differences in the cycles. In 1986 the decline in the market was like slamming on the brakes, but we arrived at our current condition by pumping them. Our recovery beyond 1991 was shown with a spike in foreclosures up to 20% and then a slow recovery year over year, but because currently we had no spike we have remained around 15% foreclosure rate for the past few years.

Overall we believe that the recession and recoveries of two decades ago share more in common that what they are apart. However because this go around did not have the “shock” decline effect, we feel that it will be a bit slower to recover as there are still issues to work out. Surely no one in 2012 is slamming on the gas, but we feel that people are staying away from the brake petal.

Cold Weather and Snow Anyone?

At the risk of jeopardizing things, Mother Nature has given us a very quiet winter. With the distinct exceptions of Halloween and Leap Year Day, we have been given very little in the way of snow fall or in the way of cold weather. Perhaps you even saw spring flowers making their way up or a golf friend getting ready for some March tee times. For us as home or condo owners, the question is… what does this weather mean for us?

Depending on where you live and how you operate, you may plow your own driveway or hire a neighborhood kid to help shovel. Perhaps you hire it out to a contractor or perhaps you are part of an association that does it for you. The question for homeowners this year is “Do you pay by the storm?” if the answer to that is yes, then you may be in the money as it relates to that part of your budget. If you are part of an association you may want to ask the home owners or condo association how they budget and contract.

Flower confusion aside the warmer weather has also meant a gentler heating season than in years past. Foreign and domestic oil volatility has kept prices high, but the net affect for most home owners is a more favorable heating season. Perhaps you purchased a few cord of wood, and only used some of it. Or perhaps you only needed to fill the tank once or partially instead of a few times. No matter what we hope that you have come out ahead.

If you have been the beneficiary of some unspent fuel or snow plow budget funds how are you going to allocate them? In a recent WMUR article, the State Department of Transportation is going to use the unspent snow plowing monies on road improvements that otherwise would have been pushed back. Can we as homeowners do the same?

Where can we invest these dollars to earn more value? Can the extra money you saved go to improvements such as better insulation in your attic? What about looking into weather stripping around your doors or windows? What about recycling the old AC window unit and purchasing a more efficient one.

If you are part of a home owners association or a condo association, ask the board or the management company what these unspent dollars could be used for around the grounds.

Mother Nature may not be through with us just yet, but if she decides to let the flowers grow and we are fortunate enough to walk away with a few dollars in our pocket, think of what we can do to help next winter.

Chris Norwood

Erin Pontbriand Joins Real Living | The Norwood Group

We are pleased to announce that Erin Pontriand has joined Real Living | The Norwood Group at our office in Nashua, NH. Erin comes from Reflections Realty Group. 

Here is Erin's Bio - in her own words. 

"I believe that good things happen to good people.  I live my life by that motto, both personally and professionally.  As my client, you will be treated with respect and represented with integrity.  Your needs, wants and desires come first, above all else.

I work in the Salem, Derry, Londonderry and surrounding areas.  I am experienced in the area of short sales and bank owned purchases.  I specialize in working with investors purchasing distressed properties.  With a degree in Interior Design, I enjoy helping clients with staging their homes and assisting investors with design ideas.  Whatever your real estate needs, I will make you feel like you are the only client I have.

I enjoy spending time with my husband of 12 years and our two daughters.  I love to read, paint and draw."

Buyer Opportunities

Much has been written about what a short sale or foreclosure means for a home seller. But home buyers in the market need to be aware of what this means for them.

Homebuyers, when looking for a home tend to shy away from foreclosures when in fact the savings that can be made by purchasing a foreclosed home can outweigh the risks and extra work involved.  In a down economy some homebuyers can save big money when purchasing a foreclosed home. The average foreclosed home usually sells at 5%-10% less than the market price.  Many lenders who have had a property on the market for longer than a month may be willing to waive certain fees in some instances even the down payment may be lowered.  “The biggest benefit is that you can not only negotiate on the price, you can also negotiate for better closing fees, interest rates and be flexible on closing dates” states Jim Spellman of Real Living The Norwood Group, Amherst.

Buyers are often distracted by the cosmetic issues.  Simple things such as painting, adding new trim or replacing the carpets are relatively inexpensive repairs and may also give the home a more appealing look.  Other issues to watch out for are structural or mechanical issues. Often when a homeowner gets behind on their mortgage they also get behind on the maintenance and repairs of their home.  This is why it is extremely important to have an extensive home inspection by a licensed professional.  

In today’s economy it is important for homebuyers to know the difference from their perspective of short sale, a foreclosure and Real Estate Owned “REO”.

A short sale or a pre-foreclose occurs when an owner, for whatever reason is 30-90 days behind on their payments and is in default to the lender. The lender is not obligated to take a short sale and in most cases the process can be frustrating for the Buyers and Sellers. Buyers need to be aware that in a short sale, the purchase and sales agreement is with the current seller. However the sale is contingent upon the seller's bank approval. This can take time and is normally the source of delay with a short sale. 

A foreclosure is when the lender takes possession of the property and the home owner is no longer a part of the sale.  Foreclosures are not sold by Realtors but are auctioned at a trustee sale. A foreclosed property, at the time of the auction requires the buyer to put a deposit down with a cashiers check and obligates the buyer to close within a pre-determined time frame.  When you purchase a home at auction it may come with many problems such as title problems, liens and sometimes tenants and owners still occupy the property therefore you may incur more costs and risks after you take over the property

REO (Real Estate Owned Property) is a property that has been foreclosed and has become bank owned. The property is listed by a Realtor who is hired by the bank, the lenders will often times remove any liens on the title and clear any issues that may slow down the sale.  More often lenders are extremely motivated to sell these properties.  Often times this is the best opportunity to find a good deal.

Knowledge is the key, do your research and do not be afraid to ask questions.  Working with a Broker who is familiar with the process will also help to make the transaction run more smoothly. Understanding the foreclosure procedure will give you bargaining power. Anytime you purchase a home you should always look into the future.  Making good choices now will save you time and money in the future when the time comes to sell the home.

Judy Vincent Joins Real Living | The Norwood Group

Real Living | The Norwood Group is pleased to announce that Judy Vincent has joined our team in Nashua. 

Here is her bio:

If you are looking to buy or sell the single largest investment in your lifetime, why not work with an agent who offers exceptional experience and ability - an agent who enjoys her work and consistently provides professional quality service! Judy Vincent is the agent to serve you!
 
As a real estate agent. Judy respects the decisions you make and specializes in finding the home that fits your needs. Her knowledge and integrity help implement and successfully close each transaction. Her strong negotiating and communicating skills will help you through the maze of paperwork, assuring you of a smooth and successful transaction.
 
As a Seniors Real Estate Specialist. As we age, we demand specialists in our health needs, so why not in our housing and equity needs as well? If you're thinking of selling, buying, relocating or refinancing, use the experience and knowledge of a Seniors Real Estate Specialist (SRES®) designee to help guide you through your transactions.
 
As an interior designer, she has a keen eye for how to give a home that great first impression! National statistics show that a staged home sells in half the time of a non-staged home and a staged home sells for 5% more than a non-staged home. Over 75% of Realtors® recommend a home be staged prior to going on the market, yet most of those Realtors@ do not personally have the skills to turn a house from a 'home' to a saleable, marketable 'product'.
 
Remember, Judy is committed to providing expertise for all your real estate needs. She is proud to serve all of Southern New Hampshire and the Nashua metropolitan area.