Low Income Housing Info

Selling a Home When It's Time to Go Back to School

New England temperatures are cooling down and we switch from vacation mode, trips to the beach and care-free living to settling into our children's school schedules, new jobs or perhaps empty nest living.  Take this opportunity to assess your current housing situation and should your thoughts turn to selling your current home then now is best time to start planning rather than later. To determine the best time to put your home on the market you may wish to contact your local real estate agent. He or she will help you with strategies to get the highest and best sales price. And speaking of agents, it’s strongly suggested to interview a few Realtors, experience and personalities are important to determine who will be the most successful in coordinating your transaction. Click here for some questions to ask when choosing a Realtor to list your property with.

Build New or Buy an Existing Home?

While NH real estate sales rose from April to May by 3.7%, year-to-date, they are down 1.2%. The reality is there are just not enough homes on the market for the number of buyers looking to make purchases and that’s a serious problem.  The most desirable homes, the ones that are selling, tend to be smaller, and more affordable, slowing the median increase.

Being "Grandfathered"? It's a Good Thing in Real Estate

You may know the phrase “Grandfathered” from the recent short-run TV sitcom, but for years the term has been given to real estate properties that wouldn’t, under current regulations, be allowed to be constructed upon. In many (but not all) cases that can be a good thing when a property comes up for sale. For example, in the case of waterfront real estate, many restrictions have been imposed on new construction dealing with setbacks, site clearing and size of structure, sometimes to the point of making a previously designed building site unbuildable under the new guidelines.

Determining When to offer the Full Listing Price

Yankee values may have started on the east coast and being frugal has its place at the grocery store or car dealership, but not always when it comes to real estate. While there’s real estate for sale everywhere, the search for a great deal is not unique to one geographic area in the United States of America - but there are limits.

Is it time to stop thinking you should always be offering less than asking price?

Understanding Conforming Loans

Know which loan conforms to the property before you apply to a lender.

Question: Are you all set with your financing?

Answer: My buddy has me all set with a great rate.

NOT SO FAST… will the property conform to the type of loan you have been assured you’ll be approved for, at this great rate?

Here is where your Realtor comes in and guides you through the process in determining if you will get that loan or waste three weeks thinking it’s a breeze only to find out the property: Type, Location, Association, or occupancy doesn’t allow the loan you are “pre-Approved” for.

Deed Restrictions a Blessing or a Curse

Many subdivisions have strict by-laws to prevent owners from pitching a tent on their site and camping out. This Covenant comes in the form of “no” a temporary shelters provision. One step further we often see no mobile homes, or a minimum square footage requirement. These guidelines were intended to ensure a homogeneous design and value of homes in a given neighborhood. They were and are still a good idea in most cases.

Steps to Improve Your Credit Score

Your Mortgage lender analyzes these five “steps” when considering your loan application and you can help the likelihood of being approved for a loan by knowing them. 

#1) Payment History: The Good can outweigh the Bad… pay your bills on time. Pay even if you are late – do not wait until it goes to  collections. The older a delinquent payment is the less it impacts your score.

The highest Credit score rate is 850. The best interest rates are given to those with scores above 740; a score under 620 is not
likely to get approved through a traditional mortgage lender.

For Sale by Owner Not Such a Great Deal!

You think you’re getting a great deal when you purchase a For Sale by Owner (FSBO) property, but buyer beware – things aren’t always as rosy as they seem.  Here’s a real-life example of just one of the many things that can go wrong.

I had a seller on the sale of a condo in the White Mountains. My seller listed their property with me and during the normal disclosure reported that they had no mortgage on the property. As the transaction moves forward and it comes time to close, we should expect a simple transaction and no lender to chase for a discharge, right? Wrong!

Private Road Bill Passes in NH

“Many times, in the past buyers have called about properties they want to view and potentially buy, only to find out that a financing option was not available due to the fact the access is on a private road. We have informed the sellers a solution which is to get everyone on the road to sign a joint maintenance agreement. This would state who would take care of the plowing, and general upkeep of the common road, and the financial responsibility. This document would need to be recorded and run with the property deed. The problem is not everyone is willing to do that, after all, why put yourself on the hook for this expense if your neighbor is willing to plow for free because that individual has a truck and plow?”

Guest Blog: Spring Home Shoppers No.1 Competitor: Their Budget

This spring's home shoppers expect less competition overall as more inventory continues to hit the market nationwide, but will struggle with affordability as home prices continue to rise, according to new survey data released today by realtor.com®, the Home of Home Search?. The survey also found, nearly half of shoppers this spring are looking for homes at or under $200,000, which despite less competition will prove difficult to find, as this one segment of housing has actually experienced the largest inventory decline year-over-year.  

Homebuyer Education - Don't Skip It!

You learn an awful lot in high school and even more if you go on to college or a trade school; all this knowledge is important and will help you get a job and begin life as an adult. But, during all those years of education did anyone ever teach you how to create a household budget, manage your money and establish credit? Some folks are lucky enough to have parents that taught them these skills, but most people simply learn as they go – and make mistakes. Now imagine the time has come to purchase your first home – who taught you how that process works or even where to begin?  Jumping into the process by looking at homes first is usually the first move, but a wrong one.

Affordable Housing Comes to Woodstock

For over 27 years, Affordable Housing, Education and Development (AHEAD) has been successfully developing and managing affordable rental housing for working families, seniors and people with disabilities throughout northern Grafton and Co?s Counties. The Littleton-based non-profit currently owns and operates 399 units of affordable housing in 9 northern communities and will be adding to their portfolio with an upcoming project in Woodstock.

BUYING YOUR FIRST HOME

Your dream of owning a home can become a reality if you set realistic goals, get sound advice, plan carefully and clearly understand the costs of home ownership. Let’s face it, it’s not like we took Home buying 101 in school and navigating through, or even starting the process, can be overwhelming. The good news is that there are a multitude [...]

Equity Builder Program

Buying your first home can be emotionally and financially challenging. With rising home prices, limited inventory, down-payment requirements and upfront closing costs, it’s enough to overwhelm someone right out of the process.  In New Hampshire some local banks recognize how difficult entering the housing market can be and able to offer some [...]