Blog :: 2019

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.

Out of State but Not Out of Mind

When some people decide to buy property outside that state in which they currently live, they may be doing it with a lot of knowledge already.  They could have the resources of friends and family already living there, or the experience of having visited and spent significant amounts of time in the state.

For others, however, the choice to buy real estate- whether it’s a commercial property, single home, a condo, or even bare land- can seem daunting without some knowledge of the new state. 

Of course, there is some research you can do for yourself. You'll have to narrow it down to the state and maybe a county or region on our own.  But when you get down to choosing a city or town, the best source of information is going to be a well-qualified real estate broker.

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.

Mold Issues Part #2

According to Doug Kaufmann the Author of The Fungus Link: An Introduction to Fungal Disease,: “Mold, a certain type of them make a byproduct that is called a micro toxin, so it’s a mold poison”.

With Functional Medicine micro toxins are often looked at as a piece of the picture. In the micro toxins profile the individuals mold exposure challenge is often realized. Dr. Dietrich Klinghardt of the Sophia Institute talks about “treating the mold that’s inside you and shutting down the mycotoxin production that way”. He further states “we always start with the heavy metals to acknowledge there is a link between mercury toxicity and mold”. Dr. Klinghardt further states “that when you threaten a mold with an effective remedy, that mold will crank up its production of mycotoxins” It’s important to have your liver ducts open and working optimally. This information was discovered in the TOXIC MOLD SUMMIT of 2019.

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?”