Real Estate Blog for the Seacoast of New Hampshire

Selling a Home in the Winter Weather

2012-01-27T12:03:00.000-08:00

Selling a home in the winter is always tougher than in the summer. Creating curb appeal and staging the interior of your home to make it warm and inviting to buyers can make all the difference. You can create a photo album or use a digital photo frame or laptop to show pictures of your property during other seasons. Make sure to show the decks, pool, and landscaping so buyers can envision the enjoyment and fun of living there in the warmer months. Include pictures of the spring blooms and the summer landscaping at its peak, so they know what to expect.

You always want your home to show well by keeping it very clean and de-cluttered, but there are additional tips for winter showings. Keep the home at a comfortably warm temperature and don’t be afraid to play some soft music or have freshly baked cookies waiting on the counter. Some sellers even leave out a crock pot full of simmering soup. We are into February soon but during any other winter holiday season: decorations must be tasteful and conservative, so they don’t overwhelm the buyer. You want him to see your home not your decorations! Be sure your agent turns on all of the lights and the gas fireplace, if you have one. Your home is a bright, warm and cheerful retreat from the cold and dreary days of winter.

Shorter days means buyers may be coming after dark, making seeing the exterior difficult. Make sure all outside lights work and are clear, clean and at maximum wattage. You can face a spotlight toward your house to illuminate the front and be creative with decorative holiday lights. Decorate the door with a festive wreath and add large decorative pots or urns filled with greenery and color to the front porch or on either side of the front door. Of course, all walkways and paths should be clear of snow, ice and leftover leaves and plant debris.

Down Payment Assistance Programs

2012-01-27T11:18:00.000-08:00

Down Payment & Mortgage Assistance Resources

Most people don’t realize that Federal, state and local governments provide hundreds of millions of dollars to help homebuyers. Down Payment Resource is a web-based service offering an easy way to connect home buyers with government funded assistance programs including down payment assistance, affordable fixed-rate mortgages, rehab loans and grants.

Down Payment Resource allows you to conduct and save searches for program eligibility and to learn more about working with assistance programs. Criteria include household size and income, special circumstances (veteran, disabled, etc) or the particular property you are interested in buying. Based on your input, this site will generate a list of assistance programs that could be available to you. It’s worth taking a look at especially if you are a first time buyer.

Access the Down Payment Resource site by going to www.oysterriver.com

Click on the Mortgages or Buying pages. The link will be on the left.

Seacoast NH December sales up from November sales

2012-01-15T07:50:00.000-08:00

Single-family home sales were up 32.6 percent in Dec. over Nov. 2011 as buyers pick up homes priced under $400,000 in the Seacoast of New Hampshire. This figure was based on 13 sample towns in the area, including Newmarket, Newfields, Exeter, Stratham, Greenland, Newington, Portsmouth, New Castle, Rye, N. Hampston, Hampton , Hampton Falls, and Seabrook. According to the Seacoast Board of Realtors there were 61 sales last month, of which 36 were priced under $400,000. However the total 168 sales for 2011 4th quarter did show a 18% decrease over the same quarter in 2010. The year's total sales of 2011 was 743 and 773 in 2010, a small decrease of 3.8 percent.

Good news for condominiums: sales increased 8.5% in 2011 over 2010. There were 177 sales in 2011 and 163 in 2010. This follows a state-wide trend recovery in condo sales

We Can Help Lease Your Property

2011-11-02T06:44:00.000-07:00

Do you have property that you may want to sell or lease? Tired of being a landlord, but not ready to sell? Oyster River Real Estate has been assisting buyers and sellers for over 25 years, but did you know that we handle property management and tenant placement as well? Rental seekers call us daily in response to our constant advertising and through word of mouth referrals. We show your property, screen potential tenants by running credit checks, calling tenant's employers and past landlords; evaluating the applicant's income to debt ratios, and handle all the paperwork. We can place tenants in your property and/or manage it for you.

Please contact Rominy Michalsky directly with any questions: rominy.jurgens@gmail.com

Surge of Fall Offers, Tentative Buyers Make the Move

2011-10-22T21:21:00.000-07:00

This summer; like last summer, was a Seller's market, with buyers weary that prices may continue to fall, ie that their purchases would be worth less in the future real estate market. However there was actually a slight increase in values, by 1.4% in NH from last summer. Mortgage rates stabilized near 4% for 30 yr fixed loans. The outcome has been that Buyers have gotten off the fence this Fall. More offers have been submitted since August than any other Fall in years. They realize that prices have probably come to the end of their decline. Also, the media has publicized that home foreclosures have decreased over last year. Good news for both Buyers and Sellers all around!

From Rominy Michalsky of Oyster River Real Estate , a Realtor serving Strafford and Rockingham County since 1987 (603) 531-1053

photos:Top: Swains Lake Barrington NH, Bottom : Lamprey River, Newmarket NH

Pending Sales up in Seacoast Despite Weather

2011-02-14T18:35:00.000-08:00

Despite one snow storm after another in our region, The Seacoast Board of Realtors reported January pending single family sales were healthy in an expanded sampling of 13 Seacoast towns. Pending sales are homes that have gone under agreement with buyers and are "pending" closing. Residential pendings were up 20 percent from December and condo pendings were up by 50 %. January is historically the slowest month of the year for sales.

It is still winter in New England; try and enjoy the snow. The days are getting longer and the grass will show again, really.

photo: Bellamy Reservoir February 2011

Are You Tired of Being a Landlord?

2010-12-28T07:48:00.000-08:00

We manage and/or find tenants for rental properties every day to take the burden off you. Tenant placement includes advertising for tenants, credit background checks, calling employers, checking financial status, calling references, obtaining security deposits and preparing leases. Management can be catered to your needs. Our rates our reasonable, so call or email me to discuss how we can make your life as a landlord easier Rominy Michalsky 603 531-1053 email rominy.jurgens@gmail.com

photo Wagon Hill , Durham NH

Year to Date Seacoast NH Sales, Collecting Papers for Tax Deductions

2010-11-30T17:29:00.000-08:00

Greetings:

As the local market winds down a bit for the holidays; here are the year to date stats for our towns:

Total home sales from the beginning of the year to today, Nov 30th
Dover NH: 187 homes sold , there are currently 24 more homes under agreement with buyers.

Barrington NH: 93 homes sold, 9 homes are under contract.

Newmarket NH: 41 homes sold, 5 homes are under contract.

Somersworth NH: 74 homes sold, 11 homes are under contract.

Lee NH: 32 homes sold, there are no homes currently under agreement.

We had a few snowflakes this week in the Seacoast, but homes are still selling.

Finally; regrettably; I put the kayak paddles away. The bay under the bridge today sure looked tempting though , between tides, mirror-like. We even passed a car still carrying their kayak today in Newington.

I hope you all had a blessed Thanksgiving.

Reminder: Now is the time to gather up your HUD settlement statements from buying or selling any property for 2010 tax deductions. Feel free to contact me if you need copies.

Rominy Michalsky, formally Rominy Jurgens cell 603-531-1053

email rominy.michalsky@gmail.com

photo: taken off Portsmouth NH 2010

Real Estate Statistics for the NH Seacoast, Market trend

2010-06-04T20:06:00.000-07:00

Here are the facts about what is happening in some of our communities regarding sales:

Dover NH

There are currently 177 single family homes on the market as of June 4th

48 homes are under contract with buyers

Since Jan. 1st, 84 single homes have sold, 28 condos have sold

Barrington NH

There are currently 119 single family homes on the market as of June 4th
28 homes are under contract with buyers
Since Jan. 1st, 38 single homes have sold, 1 condo has sold

Lee NH

There are currently 35 single family homes on the market as of June 4th
4 homes are under contract with buyers
Since Jan. 1st, 18 single homes have sold, 2 condos have sold

Madbury NH

There are currently 12 single family homes on the market as of June 4th
4 homes are under contract with buyers
Since Jan. 1st, 8 single homes have sold, 1 condo has sold

Somersworth NH

There are currently 67 single family homes on the market as of June 4th
18 homes are under contract with buyers
Since Jan. 1st, 31 single homes have sold, 4 condos have sold

Newmarket NH

There are currently 53 single family homes on the market as of June 4th
10 homes are under contract with buyers
Since Jan. 1st, 21 single homes have sold, 14 condos have sold

Photo: Swains Lake , Barrington NH Boaters can park off of Beauty Hill Rd, ramp, plenty of parking, facilities too

First Upward NH Sales Counts in 5 Years Just Released

2010-01-14T10:34:00.000-08:00

Finally! In Strafford County the 965 sales in 2009 counted for a 7.7 percent increase over 2008. Rockingham County saw a 4.3 percent increase with 2,399 home sales. The competitive prices are what primarily drove buyers out of the woods finally. The $8,000 tax credit was also an incentive. However, when all is said; it is a buyer's per month expenses that matter most. These were reduced with more realistic home prices as well as low interest rates. With supply and demand coming into play, we are seeing slight increases in home prices. This month’s sales in Rockingham and Strafford counties totaled 529, a 16.5% increase across the state over the same period last year. As long as we can keep the buyer's buying fire going, the 2010 market will fare the best of the last 5 years.

Photo: Winter camping in NH 2010

Latest Real Estate Statistics for Sales in Seacoast New Hampshire, Dover, Portsmouth, Lee, Somersworth, Newmarket, Barrington

2009-05-25T06:17:00.000-07:00

I was curious as to how much real estate has sold in this area since January 1st; How many houses are on the market now and how many have contracts with buyers on them? You hear from the media, the markets up, down, however they wish to spin it...but here are the facts for this area. You decide how the market is doing based on numbers; not just talk. I apologize that I did not include all the town in this data. It takes a fair amount of work to find the numbers so I chose several towns from both Rockingham and Strafford County. Let me know if this information is useful to you in a comment.

The closed sales info is based on the amount of closed properties since Jan. 1st 2009 to today. The pending data refers to homes that are currently under contract to close with buyers; ie currently not on the market or active.

Single family homes currently on the market, ie active listings:

Dover, NH: 171 Portsmouth, NH: 57 Barrington, NH : 135 Lee, NH: 38

Somersworth, NH: 57 Newmarket, NH: 81

Condos currently on the market:

Dover, NH: 74 Portsmouth, NH: 90 Somersworth, NH: 6 Newmarket, NH: 28

Single family homes pending, ie under contract with buyers

(does not include above numbers)

Dover, NH: 24 Portsmouth, NH: 11 Barrington, NH : 46 Lee, NH: 3 Somersworth, NH: 7

Newmarket, NH 24

Condos under contract with buyers;

Dover, NH: 6 Portsmouth, NH: 17 Somersworth, NH: 0 Newmarket, NH: 2

Single family homes closed, sold since January 1st 2009:

Dover, NH: 52 Portsmouth, NH: 38 Barrington, NH : 33 Lee, NH:3 Somersworth, NH: 24

Newmarket, NH: 18

Condos closed, sold since January 1st, 2009:

Dover, NH: 19 Portsmouth, NH: 20 Somersworth, NH: 0 Newmarket, NH: 1

This information was researched through the Northern New England Real Estate Network

Photo: Old Bridge over Bay from Dover NH to Newington NH This bridge is currently inactive to cars but still serves as a biking and walking path. It is also my favorite bridge in the Seacoast.

Finally! Activity in the Seacoast NH Real Estate Market

2009-04-04T07:54:00.000-07:00

In the last 2 weeks we are finally seeing more activity here in the Seacoast NH real estate market. The phones are ringing and that is a good sign. Granted it has been a long and slow fall/winter real estate season. Are you beginning to see more " under agreement " or "pending " signs in your neighborhood? More for sales beginning to merge as the snow melts? Let me know here in the blog with a comment.

We are encouraging would-be sellers to hold off on listing till their front yards are cleared of fallen limbs; deep mud etc. Remember, it is still a buyers market and if a buyer has so many choices, they will probably choose to see only the homes that look good on the outside from an initial "drive-by." I just met with a family who will be listing later in the season and encouraged them to map out on paper all the plantings, trees they invested in and put into a notebook. Same with sun room construction specs, dates of septic pumpings, additions, lists of home's updates, etc. The more detail and organization a buyer sees the more confident he/she is that the home has been maintained over the years. After seeing 10 colonials in one day, everything seems to look the same. However' if they can walk away from a showing with a detailed list of a homes updates, it is something they can refer back to later.

Photo: Newmarket NH Mills in Spring

Winter Recreation in Seacoast NH, Dover

2009-02-03T08:13:00.000-08:00

Here is one of our favorite spots to hike and cross country ski. The Bellamy River Wildlife Management Area in Dover NH features over 400 acres of field and open pasture. Trails zigzag across the area and run along the Bellamy. This is managed by the NH Fish and Game and is open also to hunters in season. Here is yet another get-away in our area. An easy communte from Boston as well, with Amtrack running to Dover, Durham and Exeter, NH. Bring your dog, skis , ect and enjoy this urban oasis. Directions: Old Garrison Road, Dover(from Back River Rd, turn left onto Rabbit Rd. Turn right on Old Garrison Rd. BWMA is ¼ mile down on left; follow dirt road to parking lot and kiosk)

Foreclosure Moratorium, Tax Credits, Lower Rates Proposal

2009-02-03T07:39:00.000-08:00

As the stimulus package moves to the Senate here are some of the housing recovery proposals:

1. Create a 4% mortgage. This would be a temporary provision to encourage lenders and thus home buyers with a low interest rate for a limited time. This rate would also be available to homeowners to refinance existing mortgages.

2. Increase the home buyer's tax credit. The proposal, unlike the last one, would include all home buyers, not just first-time home buyers. The credit may also increase to $15,000. There is still debate as to whether to remove the pay-back provision.

3. 90 day moratorium on foreclosures: Holding off on mortgage foreclosures might allow homeowners time to rework loans with their lenders.

We shall see how this all pans out and how it really effects the real estate market.

Dover NH Waterfront Development Project

2008-12-03T19:46:00.000-08:00

Here's another reason to want to live in Dover NH. Once again Dover is leading the forefront in city projects to benefit their community. The City of Dover owns nearly 30 acres of land north of Henry Law Park, along the Cocheco River that has not been producing any tax revenues. By selling this land to a developer, it can be used for a mix of attractive commercial and residential uses and may generate $600,000-$900,000 / yr in revenue to the city. Buildings would include shops, restaurants , offices and apartments. Out of the parcel will remain a significant public space. The buildings, parking and landscaping will occupy less than 1/2 of the parcel. Details of the project will include a public boat launch and marina, on-site parking, a new vehicular bridge linking the downtown to the waterfront, creation of an open community amphitheater and a riverwalk. Plans and guidelines can be viewed at the city's website at http://www.ci.dover.nh.us/ at the bottom of the home page under "Important Information."

Foreclosures: Show Us The Money??

2008-11-18T09:34:00.000-08:00

The Feds shifted gears again on the $700 billion dollar bailout. They are holding $350 billion for the next administration to work out. In the mean time the auto industry and the house are fighting over the 6 billion dollars that are left after this week approval of the bailout of 21 banks and AIG. The house called on US Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke to " do anything they can" to stop home foreclosures following Monday's meeting on how to use the money. See http://www.foxnews.com/story/0,2933,453684,00.html.

Share your opinions on how you think the 6 billion left from this administration's share and the remaining $350 billion for the next term should be used.

Photo courtesy of www. Flckr.com author Simon Davison

Newmarket NH Downtown Revitalization

2008-11-17T15:40:00.000-08:00

Downtown Newmarket is finally open to 2-way traffic. This phase of the Downtown Revitalization included the construction of sidewalks along the east side of Exeter Rd and Main St , the widening if the sidewalks on the west side, new crosswalks, ornamental lighting , new curbing, water and sewer lines and landscaping area. The parking garage for the Rivermoor Landing condos (of which I have one for sale!) is also finished. It will be good to see all those power lines and poles put underground eventually. Please make a special effort to visit the local businesses along the Main Street. Their parking spots are back and they need all your support. To see updates on the project and it's history visit: http://web2.newmarketnh.gov/downtown/index.htm

Photo: Piscassic River, Newmarket NH

Home Foreclosure Help on the Way? Local NH Foreclosure Results

2008-10-30T08:55:00.000-07:00

A plan is being discussed to provide federal guarantees to entice lenders to ease up the terms of troubled mortgages. Already rules are in effect in many areas to stall foreclosures to allow homeowners time to pull things together and work with lenders. Unfortunately, even though foreclosures are being stalled, lenders have been reluctant to work with homeowners to renegotiate loan terms. I have had a number of homeowners calling with frustration that they cannot even get their lenders to return their calls! Yesterday it was announced that US regulators are working on a federal program to guarantee up to $600 billion of home mortgages. The idea is to induce lenders to lower mortgage payments for approximately 5 years for troubled homeowners. The concern of course is will the lenders actually do it or will they not act to help these individuals, just as they are hoarding the $700 billion bailout funds they just received! What is going to keep other homeowners who really can make their payments from going to into default because everyone else was bailed out? Yes, I am frustrated with the current situation with these lenders as there are homeowners out there who just need minor loan adjustments to keep afloat and they are being ignored by their lenders. Instead, the local communities are suffering with the following record number of foreclosures from Jan-Sept 2008: Examples: Rochester: 78! , Dover 41, Farmington 24, Somersworth 22. I encourage your comments on this issue as it effects everyone as tax payers, homeowners, renters and buyers.

Photo: Isinglass River, Barrington NH good cold water fishing

One Level Living in Somersworth NH Just Listed

2008-10-12T06:49:00.000-07:00

I just listed this home on Lil-nor Ave in Somersworth NH. Do you know anyone who needs one level living?Look at these room sizes! This is a 2119 sq ft home all on one level plus full basement. Double lot, landscaped including fruit trees. The living room is over 23 ft long. Tremendous storage throughout, many closets. Granite fireplace with efficient insert in fam rm. Anderson windows, multi-zone heating, large bedrooms. The basement is ready for your finishing for a great room. Granite chimney and granite home exterior behind landscaping. Real plaster walls, whole house fan.....the best of materials were used to build this home.

Tips for Getting The Most Value for Your Property

2008-10-12T06:10:00.000-07:00

Tips for Getting The Most Value for Your Property
With the Least Amount of Work

When doing market evaluations of homes, my Seller’s often ask me “ What can I do around my house to increase the value with the minimum amount of expense or work?” Keep in mind that what may be a small defect in the Seller’s mind, such as flaking paint on the base of a garage door frame may add up to thousands less in what a Buyer may offer. Inspect the exterior of your property, especially the trim. The Buyer’s first impression of your house is going to be the exterior when they drive by after seeing an ad. Is there debris around the yard that may distract the viewer from the home. If the exterior appears to need a lot of repair; it is likely they won’t set up an appointment view the interior.
Next the interior. Buyers always want more space. To make rooms look more spacious: Ask yourself these questions: Is there furniture I could store or remove? Can I store away visible items from any open shelves and living room coffee tables? Keep photos and wall decoration to a minimum. Also, the lighter the rooms, the bigger they look. Pull back heavy curtains, use higher watt bulbs and make sure there are sufficient lights to turn on during showings. Glue back down any loose vinyl floorings. Has a pet chewed the rug next to a door opening. Consider installing a threshold to cover defect and better secure the rug. They may be obtained at any hardware store. The biggest value for your dollar is white paint, it is a neutral color and still the most desirable. Water stains on the ceiling? Provided you have repaired the leak in the past; brush on some Kiltz or a similar product. It comes in white and is really the only effective way to cover the iron that leaches from the stain. It costs about $10 a gallon, needs no prep work and covers any stain, even on glossy surfaces. It is also useful for painting dark covered kitchen or bathroom cabinets to give a new brighter look. Light scratches on dark wood trim or window sills? Ask your hardware store for a brown wax pencil or use a simple dark crayon to fill the marks. All these things cost very little but will bring you back thousands.

Pub Crawl in Dover Encourages Business

2008-09-28T07:01:00.000-07:00

Last weekend Dover, WHEB and Samuel Adams hosted the first Oktoberfest (yes, spelled with a "k"). Over 15 Dover pubs were visited by 2 crowds. Each establishment offered free appetizers demonstrating their menu. It was a great way to visit each of these pubs and taste their wares! Overfall it was a tremendous sucess, all tickets were sold out, the weather was perfect and a fun time was had by all. Looking forward to visiting some of these places and giving them our business in the future. Another reason to live in the Seacoast of New Hampshire!

Another Reason to Live in Newmarket!

2008-09-19T19:22:00.000-07:00

This weekend is the Newmarket Heritage Festival, Sept 19,20, 21st. Learn about the community, it's history, the waterways while enjoying our local musicians and artisans. There will be food, music, kayak trips, historic tours, hands on traditional crafting to participate in, and much more. My son and his father will be entertaining together as the Thomsons. Visit http://www.heritage-festival.org/ for all the details! If you want to get a taste of this great community and what it has to offer as a place to live this would be the time to do it.

What Does the Takeover of Freddie Mac and Fannie Mae mean to Homebuyers?

2008-09-14T06:13:00.000-07:00

The big news in the real estate market has been the takeover of Freddie Mac and Fannie Mae. These 2 mortgage giants buy mortgages from other investors. If it were not for these 2 organizations most of the investors, ie smaller mortgage lenders would not even exist. Most of the loans in the United States are sold to Freddie Mac and Fannie Mae. The Wall Street Journal wrote an excellent article on the takeover and what it means to the real estate market at the following link: http://online.wsj.com/article/SB122079276849707821.html?mod=fpa_mostpop
The most immediate outcome is that the mortgage rates ought to fall below 6% soon.

Photo: From the steps of my listing at Rivermoor Landing in Newmarket. This leads right out to the bay, saltwater access. This waterfront condo in the historic mill has been reduced to $155,000. Visit http://www.rominyrealestate.com/ for more photos

How the Rockingham and Strafford County of NH Real Estate Market Trends over the Longterm

2008-09-10T17:21:00.000-07:00

The New Hampshire Association of Realtors is attempting to stress the importance of looking at long-term real estate trends, rather than the media-driven fascination with individual, year-over-year sales and price statistics. With that in mind, they compiled statewide and county data beginning in 1998, when the statewide median price for a single-family residential home was $127,500. That number rose to its peak of $270,000 in 2005, a remarkable 112 percent increase (a 16 percent per year average increase), since which time we've seen the modest median price declines (down 1.9 percent in 2006 and 1.6 percent in 2007) that seem more dramatic primarily because of the booming market in the seven years prior.
The information in the links below contains the statistics for Rockingham and Strafford County. We hope this helps to paint a picture of the market that is more encouraging for New Hampshire than what national headlines might lead one to believe, but most importantly it is a picture that is based in actual data rather than speculation. Click on the following 2 links for data: http://www.nhar.org/docs/2008/98-07Rockingham.pdf and http://www.nhar.org/docs/2008/98-07Strafford.pdf The above link's information was compiled by the NHAR with the information obtained from the Northern New England Real Estate Network.

Photo: Another great day at Hilton Park, Dover NH This is one of my favorite spots..I can kayak from the ramp easily, there is plenty of parking, facilities, striper fishing and it's all free to the public!

The Market is Relative to Where You Started

2008-03-09T12:27:00.000-07:00

Everything is relative to where you began. Yes, homes values have decreased in the seacoast area, but relative to 5 years ago when prices were unrealistically high. If you purchased in the last downturn when I began in real estate in 1987, you are probably in a good position to make a profit on a sale in this market. That is if you have not re-mortgaged your house to pay health care expenses, your child's education ect. I believe buyers were more frugal in their purchasing of homes in the late 1980's and early 1990's. In the latter 1990's however, we saw many young buyers, with dual incomes insisting on expensive new construction, pushing their mortgage qualifications to the limit. I believe the foreclosures in this area are not due so much in part to the nation's sub-prime lending crises as to the overspending on buyers parts in the beginning. Not taking into account what would happen if their incomes dropped, that they do not need 2 new vehicles or the costs of living would increase within their futures. Since then, local incomes have not increased, the cost of health care, gas, ect has dramatically increased, and some of those same buyers are now down to one income.

Every area in the nation is dealing with their own market trends. Homes are and will continue to take longer to sell, at least for the near future. It is therefore important to market your home that is based on the current market value not what may have been 5 years ago. Homes that are overpriced will linger till the buyers and real estate agents think that surely something other than price must be wrong with the home. It would be better to wait out the next market, till price trends change than to have a home on the market for a year. The longer a home is on the market, the less likely it will sell, even with continued price reductions. Price it right from the start.