Market Thoughts & Quotes
I just came across an excellent article on the housing market which was posted in the Boston Globe titled "Is it the right time to buy, or will prices go lower?" By Kate M. Jackson Globe Correspondent / April 13, 2008
Here are a couple great quotes from the article:
"Whatever side you're on, the key is to know whether or not you're the 'right' buyer for this particular market," said Greg McBride, a senior financial analyst for
"I'm not a prophet, I'm a realtor," he said. "I tell them it really depends on why they're looking to buy a house in the first place. Some people have to move right now. Others don't. While I anticipate prices will come down a bit more, I tell my clients if they see the right place right now, and have the down payment, buy it. It's not going to change your mortgage payment all that much in the long term. And if you're planning on staying there more than five years, you're probably not going to lose money."
I think this article is dead on in regards to making decisions in this marketplace. If you do find a property that you feel is the one and you can see yourself there for the long term (5+years) make an offer! For one, the sellers are more understanding that people are going to throw out "low ball offers" and are not as likely to be offended as they have been in the past. Now they are much more likely to counter offer and realistically get the deal done.
In recent months I have experienced this first hand. I had a client throw a low number out to a seller who was "unmotivated and ready to stick it out" and that seller countered much lower than we ever thought they would!
Bottom line, you never know unless you try. Worst case they say no and you move on to the next property.
Here's my disclaimer:
Not all properties are unrealistically priced and everyones situation is different. Some properties you may be able to purchase and list price to sale price might be very close, this is not a bad thing at all. It is also why we have appraisals on properties to help ensure appropriate value.
Source:
http://sunapeeregionblog.com/2008/04/28/should-i-buy-or-should-i-wait/
Monday, April 28, 2008
Should I Buy or Should I Wait?
Tuesday, April 1, 2008
March 2008 Sales
Our area had a large drop in sales this past month compared to prior years….but we have also had record amounts of snow and gas prices have rocketed back up. From a tourism stand point it has been an awesome year up here because of all the snow. The problem is that it is quite hard to show land with 3 feet of snow on it or for that matter get a good look around a house that is “nicely landscaped”. I've had clients from last summer contacting me lately getting ramped up to start looking now that spring is upon us. I’m confident this slump in sales for March will be more than made up over the summer.
Historical Sales For Our 16 Local Towns
January 2006—23 Sales
January 2007—29 Sales
January 2008—27 Sales
February 2006—26 Sales
February 2007—30 Sales
February 2008—25 Sales
March 2006—35 Sales
March 2007—38 Sales
March 2008—17 Sales
Andover NH
- $167,000—5 Cilleyville Rd, Andover NH
- $200,000—39 Longwood Drive, Grantham NH
- $287,000—5 Fairway Drive, Grantham NH
- $416,000—5 Par Brae, Grantham NH
- $420,000—59 Greensward Drive, Grantham NH
- $139,900—513 Dodge Hollow, Lempster NH
- $203,500—10 Deerhill Lane, Lempster NH
- $270,000—80 Emily Lane, Newbury NH
- $144,000—18 Knoll, Newport NH
- $432,500—57 Oak Ridge Rd, Sunapee NH
- $431,500—72 Keyser Street, Sutton NH
- $300,000—382 Kearsarge Valley Rd, Sutton NH
- $280,000—224 Newmarket Rd, Warner NH
- $298,000—23 Highlawn Drive, Warner NH
- $305,000—112 Rte 103 East, Warner NH
- $128,000—494 Valley Rd, Washington NH
- $101,100—249 Route 4A, Wilmot NH
- $245,000—118 Jewell Rd, Wilmot NH
No sales in March for the following towns:
- Bradford, Croydon, Goshen, Lempster, New London, Springfield, Unity
http://sunapeeregionblog.com/2008/04/01/march-2008-sales/
Subscribe to:
Posts (Atom)
