Blog

Coronavirus Impacts Northern NH Real Estate

Just like every industry, the coronavirus flipped the real estate market upside down, completely changing the way realtors, buyers and sellers do business. The normal spring market is like Super Bowl Sunday every weekend. This year, Realtors were left scrambling to keep everyone safe in the process.  Standard showings became Virtual Showings and 3D Tours, and, in some cases, buyers were purchasing homes they’d never stepped foot in.

There is No Free Money

What does all this mean? In short – due to a previous Executive Order, consumers cannot be evicted or foreclosed on their residence until the original order is lifted.  What it doesn’t mean is that consumers are not liable to pay their rent or mortgage, it just gives them some wiggle room during the pandemic to create and adapt an emergency household budget or find other financial resources to pay these debts.

Stake Your Claim

 

 “Mountain Homes at South Peak” phase II development sites. A truly unique offering is about 60 days away from being released by the Attorney General’s office at the State of New Hampshire.  Once the AG has approved, we will be able to offer these under a non-binding reservation, subject to final town and engineering approvals.

Buying or Selling Real Estate During a Pandemic

Real Estate is evolving on a daily basis right now and none of us truly know how the story will end.  Believe it or not, there are buyers out there that are still looking for their dream home. Those would be the buyers that are confident with their employment situation and have been able to save for the transaction. At the same time there are many homeowners not being pushed to sell because their lender has automatically deferred their mortgage payments.  Still, buyers should not assume that because we are in a pandemic they can automatically lowball a seller. Sellers may be more willing, however, to entertain offers on the lower end. The reality is a buyer won’t know how motivated a seller is until they make an offer. Buyers need to keep in mind that no matter how badly a seller needs to sell they may not want to engage with a buyer who low balls an initial offer.

Equity Builder Program Grant

Buying your first home can be emotionally and financially challenging. With rising home prices, limited inventory, down-payment requirements and upfront expenses, it's enough to overwhelm someone right out of the process. In New Hampshire some local banks recognize how difficut entering the housing market can be and have taken some steps to offer some relief.  In association with the Federal Home Loan Bank of Boston some banks can offer the Equity Buider Program (EBP). The program is available to income eligibe households who can get up to $15,000 to use towards a down payment or cosing costs.

Realtors and COVID-19

Kids furloughed from school, bars and restaurants closed, and people told to stay at home except for essential errands—the coronavirus pandemic has already upended life as most Americans know it. Now it's expected to turn the typically busy spring home-buying season on its head as well.

Despite the extremely low mortgage interest rates, the nation could be in for a rocky home-buying season. A recession triggered by COVID-19 appears to be on the way, and the stock market has plummeted, giving many buyers pause. There are also likely to be fewer homes on the market, longer closing times, and plenty of unanticipated delays in the coming weeks.

COVID-19 Real Estate Update 3-27-2020

Like many other organizations, we're adapting in this COVID-19 world.

Per orders of Governor Sununu  all non essential businesses are to close as of midnight tonight. A Real Estate company happens to be non essential.  Our Campton and Lincoln offices will be closed until further notice. Our Realtors on the other hand will continue to do as much as they can from the safety of their homes.

Continued communication with our clients and customers is important to all of us. What does this mean for our sellers: marketing strategies will continue to put your property in the forefront of  buyers able and willing to purchase as soon as the restrictions have lifted. 

A COVID-19 Message From Alpine Lakes Real Estate

?During this unprecedented COVID-19 pandemicAlpine Lakes Real Estate is continuing to monitor closely local and world events. With many companies closing their offices and directing their employees to work from home to help reduce the possible spread of this virus, our offices are no different. Currently our offices in Lincoln and Campton are open.

First and foremost, we are taking the safety and health of our Realtors, staff and our clients and customers seriously. We are adhering to the recommendations from our local, state, and federal governments. This is a fluid situation which we are monitoring daily to better adjust and change how we operate within our company.

COVID-19 and Real Estate Transactions

As the coronavirus spreads, how will it impact New Hampshire’s Real Estate Transactions?

We reached out to many of our most trusted professionals in the field to get their feedback and yet there appears to be only a minimal impact on NH transactions. Though Bank lobbies have been closed across the state, mortgage lenders are still able to meet in person with customers if they so choose and yet there hasn’t been a significant impact on transactions already in process.

Home Buying Expenses - Be Prepared

It’s very likely that one of the largest expenses you will ever make is purchasing a home and budgeting for this venture is a definite must. Most borrowers will either be saving for a 5% down payment on a conventional loan or 3.5% for an FHA loan. However, there are additional expenses that buyers need to be aware of regardless of the loan type. Here is a chronological look at what you might expect and when it would come into play during the transaction.

Franconia Notch Vacation Specialists

Make Franconia Notch Vacations your "Home Base" for planning life's vacation in the Franconia Notch-White Mountain region of New Hampshire. Featuring "Book Direct" listings for the largest selection of Vacation Rentals, Resorts, Hotels, Motels and Campgrounds in the area, along with "all the local insight" you seek in your adventures & accommodations closest to Franconia Notch State Park with its famed Flume Gorge, Mount Lafayette, Cannon Mountain Tram & The Cannon/Mittersill Ski Area. 

Questions to Ask When Interviewing Potential Realtors

With limited inventory available on the market you should take special care when interviewing Realtors you want to work with whether you are selling or buying a home. Here's a few questions to ask those potential agents.

1. What’s your experience with selling property?

There’s no right or wrong answer requiring a full resume, however, you may wish to know if the Realtor sells real estate full-time or part-time and how long they’ve been in the industry.  It’s also reasonable to ask how they resolve issues such as discovering a lien after the fact, disputes with property lines, negative property inspection prior to closing etc.

Building Alternatives

?Construction management and home builder specialists Bob and Kathe Tortorice founded the construction company, Building Alternatives, Inc., in Chester, New Hampshire, in 1986. Unlike the general contractor’s role of quoting on your specifications, our owners changed the process by giving you control over construction. We listen to your plans and provide you with options and cost comparison choices to help you make informed decisions.

Giving Tuesday

Giving Tuesday is a day of giving celebrated on the Tuesday after Thanksgiving.  Entering its 6th year, this global movement is fueled by the power of social media. Giving Tuesday kicks off the charitable season, when many focus on their holiday and end-of-year giving.  There’s certainly no shortage of causes to give to; hurricanes, floods and wildfires, just to name a few. But there are also many organizations right in our own communities in need of financial and volunteer support.  Giving Tuesday is a great time to consider giving back locally. Northern New Hampshire is blessed with a diverse group of organizations aimed at a variety of social causes such as housing, medical care, fuel assistance, child care and providing food. In NH, Granite United Way has developed a website to search specific services in different areas of the state, 211nh.org.

The Flume Gorge

The Flume is a natural gorge extending 800 feet at the base of Mount Liberty. The walls of Conway granite rise to a height of 70 to 90 feet and are 12 to 20 feet apart. A trip into the Flume begins and ends at the Flume Visitor's Center. Guests can choose to walk through just the Gorge or do a two-mile loop. The walk includes uphill walking and lots of stairs. The boardwalk allows you to look closely at the growth of flowers, ferns and mosses found here. 

New England Ski Museum

Welcome to the New England Ski Museum. Our mission is to collect, conserve, and exhibit elements of ski history for research, education and inspiration. We have operated our Museum at Franconia Notch State Park since December, 1982 and welcome thousands of visitors each year. Whether online or in person, we encourage you to enjoy our stories from the history of skiing.