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.

 

 “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.

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.

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.