Tag Archive for 'selling a home'

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Better News on the Real Estate Front

Prices seem to be stabilizing and future foreclosures are falling – this from an online article by RISMedia, a leader in real estate information systems.  Read article.

New Listing in Eastman – Grantham, NH

This three bedroom, two bath, pristine cape is absolutely ready for you to move into–you don’t have to make one change!  Lovely Brazilian cherry floors, cherry Crown Point cabinets, granite countertops and all stainless steel appliances.  Eastman amenities.  View more photos and details at www.8Chickadee.com.

Emily Campbell, Listing Agent

Handsome Cape in a Great Location

You can still add your finishing touches to this 3 bedroom cape in Newport, NH.  The second floor is unfinished, but doesn’t need much to complete.  The first floor is handicap accessible with wide doors, lowered counters and roll-in shower.  Priced to sell at $189,000.  For more photos and details, visit www.5GolfClubRd.com.

Jane Snow, Listing Agent

Is There an End to Declining Home Prices?

Read what some authorities have to say. . .

 

New Listing with Access to Gillingham Pond, Newbury, NH

A great hideaway on 4.43 acres tucked up in the woods and surrounded by stately pines!  Quiet location bordering a stream with direct access to Gillingham Pond.  Open floor plan, 3 bedrooms, 2 baths, back deck.  Come take a look!  Offered at $278,900.  Visit www.64ForestBrook.com for more photos and details.

Donna Forest, Listing Broker

Discover Chalk Pond in Newbury, NH

Great new listing on Chalk Pond!  Immaculate 2 bedroom, 2 bath contemporary with expansive deck to watch the loons on the Pond.  Vibrant community with association beach, tennis, basketball and play area.  For more photos and details, visit www.303ChalkPond.com.

Christina McKee, Listing Agent

Do You Know What a Short Sale Is?

Simply put, a short sale is when a seller has a hardship (e.g. death, divorce, job loss), needs to sell, and owes more on the mortgage than the home is worth.   It is a complicated process for both sellers and buyers and is anything but short when it comes to time frames.

Sellers first should speak to their lender’s short sales specialist (which could entail many phone calls) and submit a financial package.   Not all lenders will accept short sales – it may be financially better for them to foreclose.   There could be tax consequences if the IRS considers the amount forgiven as income or the lender may still want the difference owed even after the sale.    Sellers should speak with a CPA and lawyer.

Buyers need lots of patience!  Even if the Seller accepts your offer, it still has to be approved by the lender.  This could take months.   (It is more complicated with multiple loans on the house.)   The National Association of Realtors® report that on average, short sales sell at a 17% discount.  A short sale can be a good deal but understand the obstacles and bring plenty of patience.

Keeping my buyers and sellers educated is part of my job.  Give me a call if you would like to work with a Realtor® who will always keep you informed, 603-526-4116.

Donna Forest, Broker Associate

 

Between The Mountains Farm for sale – New Listing in Newbury, NH

A true gentleman’s farm for those who want space, a beautiful home in tip-top shape all on a spectacular piece of conserved land.  This antique home was totally restored/renovated in 2008 and sits on 113 peaceful acres.  Views, historic barn.  A place you won’t want to leave.  For more details and photos, visit www.BetweenTheMountainsFarm.com.

Stacey Viandier, Listing Agent

 

Radon Gas Mitigation: Let’s Breathe Easy

By: Jan Soults Walker

Take steps immediately to reduce radon gas buildup if your home tests high. Knowing the available radon mitigation methods and costs will help you make the best choice.

Reducing radon: Simple strategies

If radon test results indicate that levels in your home are only slightly elevated–less than 4 pCi/L (picocuries per liter of air):

  • Caulk cracks or gaps in the slab, foundation, or framing–wherever your home contacts soil–to inhibit radon gas infiltration. This step also improves the success of other radon reduction strategies.
  • Open exterior crawl space vents to increase air flow and dilute radon buildup.
  • Install a heat recovery ventilator (HRV). An HVR introduces fresh, air-conditioned air into homes that are otherwise tightly sealed.

Reducing radon from unsafe levels

If radon levels inside your home test at 4 pCi/L or higher, enlist the services of a professional contractor who is trained in radon mitigation strategies. Contact your state radon office for a list of contractors in your area who are trained and certified in radon reduction techniques. Obtain several bids.

Professional radon mitigation options

Some of the systems used for reducing radon are:

  • Soil suction. A special vent fan draws radon from soil beneath your home through pipes that dispel gas into the open. Negative pressure created by the suction further inhibits the buildup of gas. Fans run 24/7, and are usually guaranteed for up to 10 years of continual operation.
  • Sub-membrane suction. Considered the most effective strategy for homes with crawl spaces, sub-membrane suction employs a high-density plastic sheet atop the soil. A fan draws radon gas out through vent pipes located beneath the plastic.
  • Passive and active ventilation. Ventilating a crawl space or adding additional vents may also reduce radon gas. Opening vents is passive ventilation; adding a fan is active. When employing either of these methods in a colder climate, you may need to add insulation in a crawl space to prevent pipes from freezing.

Costs for radon mitigation

Prices for radon mitigation vary depending on the extent of the work being done, but range between $800 and $2,500. The average cost nationally is $1,200 to $1,400.

As a rule, a house built on a slab or with a basement requires less labor, resulting in the lowest costs for radon reduction. Radon reduction in a house over a crawl space tends to be most expensive since a vapor barrier may be required.

Homes with any combination of slab, crawl space, and/or a basement fall in the middle range for costs.

Another budget consideration: As you ventilate radon gas from your home, energy costs increase—either from releasing air that’s been heated or cooled, or from you operating a fan full-time. Using an HRV to ventilate helps reduce waste.

With four home renovations to her credit, Jan Soults Walker is a devotee of improvements, products, and trends for the home and garden. For 25 years she’s written for a number of national home shelter publications, and has authored 18 books on home improvement and decorating.  Visit Houselogic.com for more articles like this.  Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

My Stuff is Better Than Your Stuff – Or Is It?

It’s human nature – we put a greater value on things that we already own.  This is a well known theory called the “endowment effect” developed by an American economist, Richard Thaler, in 1980. One classic study is done with mugs where Group A, with no mugs, is asked how much they would pay for a mug.  The typical answer is $4.  Group B is given mugs and then asked how much someone would have to pay for you to part with it.  The average response is $8.

I see this happening frequently with sellers when it comes to pricing their homes.   Even though they are shown similar houses sold for less and the competing homes are priced lower, sellers still want to price their house higher.  The negative consequences of the endowment effect is that homes take longer to sell, the price ends up “chasing” the market and sellers eventually end up selling for a lower amount than if the house had been initially priced correctly.

Bottom line – sellers should be aware of how the endowment effect impacts their decision-making on price.  Don’t go by what you “think” it is worth.  Make decisions based on what is actually selling in the market.  Give me a call if you need a REALTOR® to help you price your way to a successful sale!  Donna Forest, 603-526-4116, email:  donna@donnaforest.com, web site:  www.donnaforest.com