Alpine Lakes Real Estate

Green Building

2010-11-10T11:42:00.000-08:00

With heating cost going up and no sign of them coming down in the near future, living in New Hampshire during the winters months is a challenge. One builder in this wonderful state of ours Cargill Construction is meeting the desires of their clients.

Liam Cargill, Project Manager of Cargill Construction Co. LLC is awarded the first New Hampshire Emerald Green Home Certification July 19th, 2010.
New Hampshire’s first Emerald award winning home sits on the shores of Lake Kanasatka.
The Emerald award is the highest achievement presented by the National Home Builders Association, National Green Building Standard.
Cargill Construction is please with this Emerald home and its array of energy-saving products and technologies. The HVAC is a state of the art hybrid geothermal and a propane furnace system. It consists of five zones, a heat recovery ventilation (HRV), and steam humidification. The system uses “Energy Management” to self diagnose through one thermostat which communicates with the other zones to create the perfect balance for heating, ventilation and air conditioning. In addition the system offers the homeowner the ability to remote access all controls through the internet.
Liam Cargill states it is not difficult to achieve an energy efficient home with good building practices and the availability of so many products on the market today.
In order to achieve this high level of reward there are many sustainable and recyclable materials found throughout the home. Examples are found in FSC framing lumber, local hardwood flooring, 100% recycled underlayment’s, Energy Star appliances, concrete that contains 30% fly ash, and reclaimed cabinets to name but a few.
The envelope is ultra tight with BIBS insulation in the outside walls (R-23) and vaulted ceilings have an additional 2” of rigid insulation (R-49). The efficiency is reflected in the HERS of 46, despite the 4,000 SF.
Bill Cargill president of Cargill Construction Co. LLC has been building homes for the past 40 years and has witnessed first hand the transitions from small foot prints to large, larger and now the scaling back again. No matter if we are building a first home or a vacation home the most important aspect in home building is the livability of the home for our clients.

For more information on Homes that are designed or built to the National Green Building Standard visit their website.

It's Back!! -- No Money Down -- Almost?

2010-10-12T12:55:00.000-07:00

When the housing bubble burst, one of the culprits, economists agreed, was exotic mortgages, including those that required little or no money down. In our greedy hey-day, they were the mortgage lenders rising star; if you wanted a house you obviously couldn’t afford -- no problem. Oh, you don’t have a down payment? -- No problem, you don’t need one. Oh, you have a low credit score? No problem we’ll waive that. Oh, you have bad credit too? No problem, we’ll just increase your loan rate one point and there’ll be no credit check. Step right up buyers! Here are the keys to your new “shining home on the hill.” No matter you can’t pay the monthly mortgage or the taxes or even the utilities -- no problem!! Next customer please; and so it went, mortgage after bad mortgage creating havoc with our financial institutions and leaving millions of foreclosures and abandoned homes in its wake as far as the eye could see.

Although home foreclosures are again expected to top two million this year, Fannie Mae, the lending giant that required a government take over, is slowly getting back into the market for mortgages with no down payments. Harvard’s Joint Center for Housing Studies reports that this type of loan might be the kind necessary to restart the housing market, because down payment requirements are keeping first time home buyers out. Low down payments themselves were not the problem, except when combined with other risk factors like adjustable rates or lax underwriting.

This new program is called Affordable Advantage, available to first time home buyers in four states and created in conjunction with the states housing finance agencies. The initial program is small but if successful it will be available in other states as well. So far Idaho, Massachusetts, Minnesota and Wisconsin are offering them. The loans are a thirty (30) year fixed mortgage with mandatory home ownership counseling, available to people with credit scores of 680 and above (720 in Massachusetts) and buyers must invest one thousand dollars ($1,000) in the home and they must live in it. The Wisconsin Housing Authority has issued 500 of these loans since last March, making it the first state to act; and to date there are no delinquencies.

It’s the mission of Federal and State agencies to put people in their homes and keep them there, not to foreclose unless all other options have been exhausted. This new form of sub-prime loan is much safer because income is fully documented, monthly payments are fixed, credit score requirements are generally higher and borrowers must be thoroughly counseled on the home buying process and managing their debt. With the growth and enhancement of the Affordable Advantage program it may very well be that the young first time home owner will help lead us out of our housing doldrums and -- WITH NO MONEY DOWN -- ALMOST?

We wish them well in their mission.

Dick Clark
Alpine Lakes Real Estate
Campton NH
800.926.5003 or 603.726.4580

Plymouth State University Panthers are Going Green

2010-09-01T05:11:00.001-07:00

The Hanaway Ice arena Opened mid-July, the University and the town will benefit from this sports center. 16 million dollars spent on the facility delivered a state of the art geothermal operating system. The arena runs on the most energy efficient integrated heating and cooling systems currently devised and available today.

How can over 20 miles of pipe produce a superior heating and cooling system? The Geothermal system provides heat, cooling and hot water, while eliminating the need for fossil fuels. The ambient temperature of well water is pumped through a refrigeration cycle removing the heat to heat the building and hot water…pumping glycol (a nontoxic liquid better suited than ammonia used in other areas) is the key to the ground source heat exchange. Once you get below the frost line about 6-8 feet down the soil temperature remains relatively constant throughout the year and allows consistent heat and cooling from the water drawn up in the 260 wells located under the parking lots.

The building will serve multipurpose. It will be used for teaching, a community center and provide meeting facilities for the school, various town functions, teen nights and figure skating events. With seating for 850 visitors there will be ample room for sports and recreational skating events.

The building is quite stunning and offers a gateway to the Plymouth State University campus…as parents, students and visitors exit Interstate 93 they see this great accomplishment staring back at them. This will be a great economic boost to the town and of course allow the school to recruit some of the counties best Hockey players. A proverbial win – win for the town of Plymouth and the campus of Plymouth State University.

Steve Loynd
Alpine Lakes Real Estate, Lincoln, NH
800.926.5653 or 603.745.3601

The FHA is A-OK

2010-08-02T12:26:00.001-07:00

THE FHA IS A-OK

The federal Housing Administration, generally known as FHA was created in 1934 in part to help a housing industry that was flat on its back as a result of the great depression which had started in the 1920’s. During the 1940’s , FHA programs helped finance military housing and homes for returning veterans and their families after the war.

In the 50’s, 60’s and 70’s they helped spark production of millions of privately–owned apartments for elderly, handicapped and lower income Americans and when soaring inflation and high energy costs threatened their survival, FHA’s emergency financing kept many cash-starved properties afloat.

During the last two decades the FHA has struggled. Like so many government agencies the years had taken its toll; they were no longer the aggressive problem solving entity they had been; the bureaucracy became un-wielding and un-responsive: slowly their influence waned. Most business institutions and much of the general population had lost faith in the FHA.

The good news that was then and this is now --- the FHA is back, better than ever. Under new aggressive leadership they have developed many new loan programs that are now available to everyone; in fact even Bill Gates can get one. Loans can be as high $ 800,000 and due to the general unwillingness of today’s lenders to extend credit with respect to conventional loans, many borrowers find that the FHA is their best bet. Lenders don’t mind lending when the federal government assures them repayment.

Compare these FHA loan figures from previous years; 2007 FHA lending volume was a mere $ 60 billion dollars, in 2008 the amount tripled to almost $200 billion and in 2009 it was close to $300 billion and in 2010 they have requested a whopping $ 400 billion dollars to insure new mortgages. What an amazing turn-around for an agency that had fallen on hard times. In a recent poll, 87% of home buyers indicate they plan to use FHA loans. They are the largest insurer of mortgages in the world, currently insuring over 34 million homes and they are the only government agency that operates entirely from its self-generated income and costs the taxpayers nothing. What a novel idea!!!!

As a realtor the new FHA program I like the most is the- 203 K loan. How many times have you had a buyer that absolutely loved the house you were showing them but the old kitchen turned them off or they hated the rugs and would rather have all hard wood floors or the bath rooms were dingy and out of style ? Sound familiar? Most times the buyer could not afford both the mortgage payments and the rehab costs related to the home and as a result they continued looking and moved on. Another sale was lost.

Now there’s hope, through the new 203 program the FHA will escrow up to $ 35,000 dollars for repairs and related expenses from your loan for materials and labor along with a 10-20% contingency reserve and up to six months worth of mortgage payments. It’s a gift from you federal government. According to the FHA,” all persons who can make monthly mortgage payments are eligible to apply” for this program. You’ll be surprised by the variety of home repairs and improvements that are covered by this loan; these include, but are not limited to: painting, room additions, decks and patios, kitchens including appliances, heating, plumbing and roofing. Yes, there’s paperwork and certain procedures must be followed and the property must appraise but I encourage all realtors to learn more about this program and to search out banks that are experienced with the 203K program; its one more tool to help make a sale in this difficult market.

I have touched briefly on this new program, there is of course much more to it. To get more information I encourage you use the search tool at http:/www.hud.gov/ll/code/llslcrit.cfm and check box for 203(K).

Dick Clark
Alpine Lakes Real Estate
Campton NH
800.926.5003 or 603.726.4580

Building Family Memories in Lincoln

2010-08-02T12:25:00.000-07:00

South Peak offers opportunity for your family in the beautiful White Mountains that will ensure your fondest memories for a life time.

The town of Lincoln is quaint and very hospitable affording many great experiences for mind, body and soul. There are Fireworks, foliage, hiking, canoeing and fabulous skiing to start of with and between the towns of Lincoln and Woodstock there are a number of Religious Communities offered.

The South Peak - Mountain community is a special place with ski back trails throughout the resort, and a river walk trail with access to local swimming holes and cross-country trails when snow covers the ground.

The South Peak neighborhood is a short stroll to shopping, entertainment and eateries of all kinds. The conveniences are close but the community is very private. The South Mountain slopes of Loon feature easier cruiser runs and one of the only double black diamond trails in the east. South Peak Home owners group has their own warming hut at the Pemi base camp, where the high-speed quad whisks you up the mountain, and all trails lead back to your door. Much thought went into designing the resort, the common areas, fire pits and shuttle service. Water frontage make the grounds friendly for neighbors to share the common bond of mountain living. The owners have frequent get together that involve music, food, fun and recreation. Snow cat rides, golf outings, bike rides, dog sledding and group nature hikes are just some the planned activities that take place throughout the year.

If you are looking to forge those strong family bonds, a mountain retreat can offer family recreation, relaxation and reconnection away from the stress of life. Many of our second home owners will one day retire to their beautiful mountain home to enjoy all the seasons and look forward to visiting family and friends. When you offer recreation as part of your trip they will always come home. This writer knows as I had come to Loon Mountain 40 years ago as a boy with my family on vacation. With those memories always alive it brought me here as an adult and I never want to leave.

Steve Loynd
Alpine Lakes Real Estate

South Peak at Loon Mountain

2010-06-09T05:54:00.000-07:00

The Town of Lincoln, New Hampshire

2010-05-04T05:30:00.000-07:00

Lincoln, New Hampshire is the second largest town in the state, featuring 95% of its land area within the White Mountain National Forest.

We have a very small year-round population, mostly second homes and retirement properties. This combines to make our property tax bill one of the lowest in the state. Even though the graduating class is less than 30 students annually, our kids are near the top in S.A.T. scores and athletically find themselves in the state finals for their leagues in soccer, baseball, softball and, of course, skiing.

The town's big four features are: Loon Mt, Pemigewasset River, and the Kancamagus Scenic highway and the lowest tax burden in the state.

Loon Mountain Recreation Area: The most popular ski resort in the state with gross ticket sale exceeding all other resorts in New Hampshire. Five lodges to choose from, a great mix of beginner to expert trails, snowboard terrain parks, night tubing and one of the country's best handicapped adaptive ski schools ranked by the professional ski instructors of America. Summer offer: horseback riding, mountain biking, climbing wall and major state festivals right through the fall (including the Scottish Highland Games).

Kancamagus Scenic Highway: This highway has been designated by the Federal Government as one of the Most Scenic Routes in the Country. From Lincoln, New Hampshire to North Conway (shopping mecca) you travel 35 miles through an unspoiled wilderness area. During your drive you will likely see moose and bear, or pull over at one of the many scenic vistas created to park and view the mountains. There are several places you can park and swim under waterfalls, but there are no commercial buildings of any kind for gas or food for the entire 35 mile trip.

The Pemigewasset River: This river flows through the center of Lincoln and was once used to transport timber to the paper mills in town. The mills are gone now - replaced by shopping and conveniences. There are a few remnants of an old dam or trestle crossing that make for swimming and floating in the river fun. Add fishing, kayaking, biking and hiking in the summer and cross country skiing along the river in the winter and the water still offers commerce but of a new kind.

Recreation, Attractions, & National Forest Stations make the list:

An absolute slew of outdoor activities can’t be left out of the area's best features.

Whales Tale Water Park: One of the largest water parks in the state. It’s fast, wet and wild fun for the whole family. Adult and kiddie pools, after dark music and libations - all can be found on summer weekends.

Clark’s Trading Post: One of the only places in the country where you can see a live bear show. Ride a steam locomotive, drive bumper boats, visit the fire truck museum, the crooked house or be scared by the Wolf-Man.

Lost River Caves: Another great place to take the kids. Pan for gold and explore the many caves and crevasses formed over a million years ago.

The Flume State Park: Hike through the covered bridge, and walk the intricate boardwalk cut into a series of chasms with falling waters and breathe, taking views at every turn.

Jack O’Lantern Golf Course: Fifty years of family tradition along the Pemi River, 18 holes of golf with all the amenities you would expect - pro-shop, restaurant, lounge and a great round of golf.

The View walking down the
18th hole of the "Jack"

There are many types of properties to choose from as well. Slopeside new construction homes, condominiums that are river side, ski side and golf side, or undeveloped land for your future plans. Lincoln is a great place to live and recreate, retire or start a business. Give Alpine Lakes a call for all your White Mountain real estate needs.

THE FLAGS ON THE 48

2010-03-08T06:19:00.000-08:00

One of the great joys experienced in selling real estate, is meeting so many new people who are willing to share their life experiences with you. I recently sold a condo unit to a client and he shared information with me about an annual event in New Hampshire that I had not heard about; it’s inspirational and patriotic and filled me with a deep sense of pride: it’s great to be an American! That event is called FLAGS ON THE 48.

The “Flags on the 48” began as an act of remembrance and a demonstration of patriotism in response to the horrific terrorist attacks that took place in the United States on September 11, 2001.

On September 15, 2001, three days after the attacks, six hikers met at the White House Trailhead packing a 96 square foot American flag, 30 feet of PVC tubing, 100 feet of rope and 2 rolls of duct tape. They were compelled to do something to express their grief for the devastating loss of lives on 9/11. In a small demonstration of their compassion in the wake of such incomprehensible violence, these six hikers ascended with heavy hearts to raise the American flag from the summit of Mount Liberty. This was their personal tribute to the victims who perished in the attacks.

Now, each year, on or around September 11th, impassioned hikers embark on a collective journey to raise American flags on all 48 of the 4,000 foot summits in New Hampshire. Hundreds of people take part; from Boy Scout troops and veteran groups to every day hikers. Participants from around New England create a moving memorial that is a compassionate show of support for those who have suffered such heartbreaking loss.

We encourage you to join in this patriotic and emotional endeavor; those of you who are not hikers can access transportation to the top of Cannon, Washington or Wildcat Mountains to watch the flag rising. For more information go to www.flagsonthe48.org

See you on the mountain-top!!

The Radon Gas - Deal Killer or.. Serious Issue?

2009-12-07T05:56:00.000-08:00

Three deals dead in three months due to radon.

This odorless, invisible gas that as far as I can tell can't be unequivocally linked to health issues has done another deal in.

I live and sell properties in the Granite State (New Hampshire)...Radon is everywhere.

If the Radon count has above 4.0 PCI based on an independent test...inside the home, its high on the front steps, sidewalk...road leading to your new home. What are you going to do about that?

Is this a Government plan to put radon mitigation specialist back to work?

Or is this a test to raise the home inspectors fee?

All three of these sales were done in by counts between 8 and 12 PCI...how bad is living with this?

In each case I asked the buyer what the count was at their current home...where they have lived 24/7 for years, none of them had any idea.

I know you are all itching to comment have a system put in...drill a hole in the basement slab...attach a PVC pipe and hook up a fan...no big deal...Right?

1) This questionable test has just scared the buyer...and you can't put Pandora back in the box. One canceled as not being convinced a zero could ever be achieved and children's room will be on the lower level.

2) The cost of this out of the blue concern is prohibitive. Deal two has half a finished basement and half is a dirt floor...the only way to fix this house pour a new slab, but the seller is upside down on the mortgage and can't do anything about the required repair.

3) Deal three, a five story condo with the high count on the ground floor. There are windows on all five stories and no way to get a vent system above the roof line without a major engineering under-taking...if at all possible.

I have had properties come in with radon counts over 30PCI and there - systems have made the difference. But the counts that are in the single digits, the change of barometric pressure, weather patterns, an open window or a re-test can change the results.

Once the cat is out of the bag…good luck coaxing him back in.

The damage is done, the buyer is scared and many times nothing can put this deal back together again.

If the seller pre-tested, would buyers accept there results...this tests are done through independent labs and the numbers are accepted to be "real"...but is there a real health concern?

What is the radon level at your house...at your office...at your children's school, or is the stress caused by this concern worse for you than the radon itself.

In new construction we are putting a vent in the floor and a pipe to the attic space before finishing the inside of the home...if a test rate the living space in a high range, a $200 fan will fix the PCI levels.

Here's the USGS radon map:

The best advice I could give is to educate your buyers by either sending them to the EPA web site or giving them the EPA publication Home Buyer's and Seller's Guide to Radon

This information is from: The United States Environmental Protection Ageny - Site.

Studies Find Direct Evidence Linking Radon in Homes to Lung Cancer - Two studies show definitive evidence of an association between residential radon exposure and lung cancer. Two studies, a North American study and a European study, both combined data from several previous residential studies. These two studies go a step beyond earlier findings. They confirm the radon health risks predicted by occupational studies of underground miner’s who breathed radon for a period of years. Early in the debate about radon-related risks, some researchers questioned whether occupational studies could be used to calculate risks from exposure to radon in the home environment. “These findings effectively end any doubts about the risks to Americans of having radon in their homes,” said Tom Kelly, Director of EPA’s Indoor Environments Division. “We know that radon is a carcinogen. This research confirms that breathing low levels of radon can lead to lung cancer.”

Read the University of Iowa press release about the North American study at www.uihealthcare.com/news/news/2005/03/21radon.html

Abstract of the pooling of North American Residential Radon studies (PDF) (2 pp, 22KB, About PDF).

Abstract of the pooling of the European Residential Radon studies (PDF) (1 page, 21KB, About PDF).

You decide if you should be testing homes for sale (I think you should).

Steve Loynd
Your-White Mountain New Hampshire Real Estate Expert
steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898
MLS search and Realtor web site: www.alpinelakes.com

Loon Area Market Report, Lincoln & Woodstock Sales 2008 Vs. 2009

2009-11-24T12:37:00.000-08:00

Despite the groans of the slow market, and repeated claims that its a worse market than last year...lets take a look at actual numbers.

All Closed sales in the first 3/4 of the year (January 1st- September 30th 2008)

Land sales: 9 closed sites, Asking price 193,200 - Selling Price 175,800 ( 91% ratio) Day on market 262.

Home sales 6 closed average asking price $387,400 - Average selling $351,800 ( 91% ratio) DOM 319

Condominiums 49 closed, average asking $250,800 - Average selling $235,600 (94% ratio) DOM 202

Condominium sales fared well in the market as the best of the asking price to selling price ratio, and the shortest number of days on the market compared to the other two categories. Total sale first 9 months of 2008 for all real estate in Lincoln & Woodstock 64 units sold (compiled by Realtor transactions).

All Closed sales in the first 3/4 of the year (January 1st - September 30th 2009)

Land sales: 5 closed sites, asking price 188,300 Selling price $171,000 (91 % ratio) days on market 104

Home Sales: 10 closed Average asking $167,200 Average selling $155,800 ( 93%) days on market 193

Condominium sales: 42 closed, asking $222,300 average selling price $205,400 (92% ratio) DOM210

Selling prices were down considerable in the homes sector, but with twice as many single family homes sold over the prior years number, and total sales for all units counted as Realtor transactions 57.

I do believe the bright spot will still come before the end of the year, with a few sales closed and pending for the final quarter of 2009...in the higher end of the price range.

This home closed two weeks ago in the Landings project here in Lincoln NH for the price of $1,850,000. Several other sales are pending over $500,000 and three new homes are under construction at south peak resort in Lincoln...slope side at Loon Mountain with price tags all over $1,500,000.

South Mountain Pemi Base Camp....nearby several new custom homes are currently being built.

The Conclusion is the low end is selling with less days on the market , the high end is moving, and the middle of the market have more competition...so buyers seem to be under little pressure to make a buying decision.

Your White Mountain New Hampshire Real Estate Expert
steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898
MLS search and Realtor web site: www.alpinelakes.com

Loon Mountain - Lincoln NH - Major Price reduction - just before Ski Season!!

2009-11-10T05:39:00.000-08:00

2009... has not been my worst year in the real estate business since I began my career 26 years ago. Needless to say its not my best... record setting... I'm going to retire young year, either. One Thing that separates the going through the motions agents from the get-er-done agents is making the call...when the news isn't good. Its time for a price reduction, is not normally on the top on your FUN THINGS to do list. I only get paid when the sale closes, why keep a listing that can't sell at the current price. What have you done to manage your clients expectations -LATELY- ? I provide stats monthly, and ask for an appropriate price reduction when its called for. The proof is in the sale... success that comes after a price reduction often comes shortly after the move. If that is not the case there is something else wrong with the subject property... and that too is my job to figure it out (and will be answered in future posts -Subscribe to my blog and get the answers).

Three big price reductions make these just right!

This Waterfront home site at Loon's South Peak Resort, offer ski to your door access and river frontage (also has town water, and sewer to the site). The last sale of a comparable site closed at $425,000 30 days ago... this site was listed at $449,900, Now offered at $399,900 $50,000 price reduction on land before the snow flies... this will get sold and both parties will be happy.

The Lodge at Lincoln Station...on the shores of the Pemi River, views of the slopes, on-site amenities and rental desk for income and management... Wonderful Riverfront two level penthouse not showing much interest in the current market... a $20,000 price reduction was in order, seller agrees its time for them to move on the current asking price of 179,900 NOW!$159,900 fully furnished and ready to enjoy.

Deer Park Resort... Only 3 listings out of the 300 condos, there is no glut here and the families that call this resort home rarely leave. But a summer of showings and no real offers, require a $10,000 price reduction... New Asking price $209,900 (2 bed / 3bath townhouse) best amenities in the area...

Save some green on these priced right listings.

South Mountain Home site MLS# 2748300
Lodge at Lincoln Station MLS#2748305
Deer Park Town house MLS# 2751898

Go to My Web site; www.alpinelakes.com & Search by MLS#

Buyers its time to make your deal, and agents its time to call your seller's and get your listings priced at current market values...If you couldn't sell it yesterday...its time to price it for today!

Steve Loynd-Your-White Mountain New Hampshire real Estate Expert

steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898
MLS search and Realtor web site: www.alpinelakes.com

The Weeks Act of 1911...New Hampshire Native's hand in the National Forest

2009-08-31T12:44:00.001-07:00

We all owe a debt of gratitude to this New Hampshire born statesman.

John W.Weeks: Was born in Lancaster New Hampshire in 1860, Served as a Congressmen from 1905- 1913, a U.S. Senator from 1913-1919 ,a Member of President Harding Cabinet in 1920 and then as Secretary of War from 1921-1925.

John Weeks tenure in Politics allowed him to be a strong advocate for the creation and the foundation of the United States National Forest System. This legislation became know as the Weeks act in 1911. This preservation movement began in 1906 when Congressmen Weeks made a motion to Congress to authorize Federal purchase of private land for the purpose of forest reserve. Ultimately it was Floods, forest fires and the protection of forest land's natural watershed that help to pass this legislation. The ability to control the water flow was defined as a primary function of the formation of the management of the forest reserve.

Weeks summer home on Mount Prospect in Lancaster New Hampshire, was dedicated to the state and the more than 400 acres, buildings and fire watch tower are know as Weeks state park today. If you ever get a chance to visit it is worth the trip and the Mountain views are terrific.

For more info on Weeks State Park… 603-788-4004

Scenic overlooks
Nature walks
Picnic tables
Observation - fire tower
Memorial building museum
1 1/2 mile narrow, two way traffic road to the summit.
For autos or walking, not suitable for busses or campers.
Historic site fee paid at the memorial building.
Importance of Weeks law told with photos, words and art.
Teddy Roosevelt's gift moose head.
Mounted specimens of New England birds and animals.
Logging history

Demand & Supply... or... Supply & Demand

2009-08-24T07:39:00.000-07:00

Not everything in the real estate business is in abundance of supply.

Lay-offs in the manufacturing sector will catch up with our industry as well. It not just about houses and cars, it's about inventory available for renovations, repairs and new construction. Developers have mothballed many projects around the country and as they wait for the market to turn. Their traditional supplies have had to slow production or close down plants completely...for lack of orders.

The economists and prognosticators I have read have suggested the recovery is a year or two off. That may seam like a long time for the resale market, but for new construction it may mean the need for short supplies, low inventory and a finite amount of warehoused back stock.

If you are waiting for the market to get better to build, do an addition or restart a subdivision you better be prepared to pay higher prices for lumber and material. These manufacturers are some of the companies laying off workers, reducing shifts and ware housing a bare minimum of supply.

As with every economic turn, the smart money gets out early and gets back in before the rest of the conservative players. If you plan to build a home or restart a month balled project now may be the best time to begin. Your finished offering or completed home will be done before your contractor has to pass on the higher materials costs of builders competing for a limited amount of ready supply.

In my opinion this theory goes for land purchases as well, this too is raw material for a building project. Land prices will only go up as resale inventory goes down. The signal for land sellers to raise prices or withdraw the flexible consideration of price and terms is a factor of supply and demand as well. If you have had your eye on a land purchase your days of great deals are numbered.

Your success in the field of real estate requires you to act ahead of the crowd, and time your purchase correctly. The bottom of the market is visible only when looking a historic data. In other words we know when the recovery happen after it takes place.

steve@alpinelakes.com
Toll free: 800-926-5653
www.alpinelakes.com

Vacation Ownership... but shared time and ownership

2009-08-17T07:45:00.000-07:00

Most people know how timeshares work, you buy a week and wait all year to use it (or trade it).

There is another type of fragmented ownership that works better for those that want to visit there home resort more frequently.

The Quartershare concept offer 13 weeks of deeded ownership (owned fee simple), with your week occurring every fourth week. This allows you to know all the other owners of your same week, this is your home resort where you have friends are familiar with the vacation atmosphere and can have it for short money.

The RCI exchange is a bonus, use your week, rent your week or travel the world on an exchange.

Deer Park Resort, in the White Mountains of New Hampshire...close to Loon & Cannon Ski Areas with one bedrooms ownership from $15,900 and two bedroom ownership from the mid 30's.

Nice river views from your deck…a four season resort with skiing, river, ponds and the areas best indoor recreation center...plus the chance to exchange for a St. Somewhere trip when it gets too cold.

steve@alpinelakes.com / 800-926-5653
Property search: www.alpinelakes.com

Follow Up Short Sale

2009-08-10T07:55:00.000-07:00

Do sellers have the wrong impression of the short sale process?

A decline in current market value doesn’t qualify you for a short sale, you may have a case for a loan modification (if your ARM is about to go up) but just because you can’t sell the property for enough to pay off the note, wouldn’t in and of itself allow you to negotiate special treatment.

Here is a recent conversation I had with a seller (not a real name)

Client Keith: Hi Steve, thanks for bringing me the offer so soon after reducing the price to current market value…what do I do next?
Broker Steve: You have requested a short sale status from your lender right? And you have authorized the lender to speak with me about the transaction right? And you have a contact person I can begin to work with right?
Keith: Steve I know you told me to do all those things when we first listed the property, and I know they sent you my pay off statement. But no I have never asked them for a short sale status on the property…I was hoping you could do all that.
Steve: I can’t do anything until you request authorization for the lender to speak with me, and they will do nothing to help you without a hardship letter and full financial disclosure.
Keith: Well I’m really busy and I thought you were getting paid a commission to close the deal…why can’t you call my bank and do everything?

It’s just not that easy, you qualified for the note when you purchased the property and help isn’t given to those that have means to continue to pay.

The words “the sale is subject to the sellers lender accepting a short sale transaction” in the purchase agreement may keep you from being sued for specific performance…but it doesn’t guarantee the lender will let you off the hook.

Your Mortgage Company is going to want to review your tax returns, retirement funds, income, assets, bank accounts, stocks, bonds and any other properties you may own to determine if you have a case for hardship. And the decline in value to a level below what you owe on the note has no bearing on your ability to continue to pay or to liquidate other assets to come up with your own shortfall.

Owing more than your property is worth doesn’t qualify you for a short sale.

These transactions may be all the rage where you live but they are not a free pass to get out of paying what you agreed when you borrowed the money.

Hell if I were a stock holder in that bank I would want you to pay back the money you borrowed from "Us".

- Steve Loynd
your White Mountain N.H. real estate expert.

2009-08-03T06:49:00.000-07:00

“I have motored through nearly every state in our country, and while opinions may vary with shifting scenes in many places, I always return to my 1st love – New Hampshire. There is no more charming or beautiful spot. I have been there some part of sixty years. Then covered bridges, old houses, white churches, rocky fields, and zigzag fences – all of them forming the backdrop against which sunshine, rain and snow play a symphony of color, light and music of mystic charm and beauty. No wonder there are fine and gracious folk in New Hampshire. It could not be otherwise in such pleasant surroundings. – Wallace Tibbetts, Wellesley, Massachusetts”

I personally love to glance out my kitchen window at the white church the sits behind my house. It gives me a peaceful feeling seeing that white steeple peering above the pine trees. While tourists are paying to come vacation in New Hampshire just to capture a week or even a weekend of the peace and harmony that our gorgeous landscaped scenes provide, there are some residence who don’t always appreciate how lucky we are to be able to have the opportunity to enjoy these beautiful portraits right in our own back yard everyday.

Some of us have lived in New Hampshire for so long that we’ve taken for granted what we need those ‘outside the box’ to remind us to be thankful for. Thank you Wallace Tibbetts for a wonderfully detailed reminder of how lucky I am to be a New Hampshire resident.
– Bobi Bigelow

There is nothing short about a short sale… it’s all long!

2009-07-27T06:22:00.000-07:00

Some seller’s wait till there is an offer to start the short sale request.
Don’t wait, if your current market value is well below your current principal balance waiting to request a short sale will un-necessarily delay the sale.
If your Realtor tells you that the likely selling price is in a range that you know you will have a deficit (and you don’t have the funds to pay off the difference at closing) you need to shed your embarrassment and be honest from the start.

Why do short sales take so long to complete?
Your FDIC insured lender is required to review the sellers’ financial picture; they must determine if they can recover some if any of the shortfall from the current mortgage holder. This review (lenders due diligence) has added a huge holding pattern to the normal resale process.

What is the lender going to be looking for prior to selling?
A complete financial statement, Tax returns, A list of current assets, W2’s pay stubs, bank statements, current employment and a letter requesting the short sale listing any further hardship issue that affect your ability to pay off the note. If it’s been determined that you have other assets to pay off the note the lender may require an interest in the other assets, or require you to liquidate additional assets to affect the balance of the pay-off. After an offer has been made what will they want?: a copy of the sale contract, listing agreement and an independent appraisal may be requested.

How much time is typically needed to complete this transaction?
A request for a short sale can add up to 8 weeks to the process, so a normal 30 day closing can easily become a three month closing…or with the current appraisal market maybe even 4 months. The best thing a seller can do before even listing the property is contact their bank and start the process. The seller should determine if they qualify for a short sale before they enter a sales contract, or at the very least make sure your Realtor, make the sale conditional upon lenders acceptance of a short sale status.

Completing your due diligence prior to listing will make the sale far less painful for all the parties involved or potentially involved in the transaction.

STEVE LOYND
steve@alpinelakes.com
Your White Mountain Real Estate Expert!

New Hampshire Named Safest State in the Nation For Second Year in a Row

2009-05-11T10:05:00.000-07:00

After reading the following Press Release from a March 24, 2009 no wonder I have always felt safe growing up in a state where you can leave your doors to your homes and vehicles unlocked and felt peaceful while being able to go for walks in your neighborhood at night. I too want to thank my neighborhood law enforcement for EVERYTHING they do to keep us safe.
-Bobi Bigelow

New Hampshire Named Safest State in the Nation For Second Year in a Row

CONCORD - CQ Press has named New Hampshire the “Safest State” in the nation for 2009, the second year in a row the state has been recognized as the safest state.

New Hampshire again boasts the nation’s lowest murder rate and the second-lowest rates for aggravated assault, according to CQ Press.

“I am proud that working together we continue to keep New Hampshire the ‘Safest State’ in the nation. Our low crime rate has long been a part of what makes this such a great place to live and work, and it is important that we work to maintain our high quality of life,” Gov. Lynch said.“ “With this recognition, we should take time to thank the hard-working men and women of New Hampshire law enforcement who work every day to help keep us all safe.”

Gov. Lynch has made public safety a priority since becoming Governor. Gov. Lynch has worked with the Attorney General, police chiefs from across New Hampshire and lawmakers to better protect children by passing one of the toughest sexual predator laws in the country; increased the state police; and increased the number of state prosecutors.