The first quarter of 2012 is now history and the real estate market in southern New Hampshire is showing signs of improvement. In Rockingham County there were 488 single family homes sold vs. 446 sold in the same period of 2011. That represents a 9.41 % sales increase in 2012. Condominiums sales in the Rockingham County were even stronger with 158 sold in 2012 vs. 126 in 2011. This is a 25.39% increase in condominiums sales in 2012.

So now you must want to know what’s happening with prices. The average sales price for single family homes in Rockingham County, during the first quarter, dropped from $299,364 in 2011 to $274,118 in 2012 a drop of 8.43%. For condominiums the average sales price, in the first quarter, dropped from $186,830 in 2011 to $176,447 in 2012.

I am sure all my Windham friends want to know what is happening there. Sales were very strong in Windham during the first quarter of 2012. 24 single family homes sold in 2012 vs. 17 in 2011 which is a 41% increase. The average sales price of a single family home increased from $335,435 to $410,000 and increase of 22.5%. As I mentioned before, this does not necessarily mean prices have increased and it is more likely that more sales have taken place in the upper end of the price range.

In fact, that is exactly what the statistics show in Windham. In the first quarter of 2012, 12 single family homes sold for over $400,000 and 12 sold for under $400,000. In the first quarter of 2011 only 3 houses sold for above $400,000 in the first quarter with 14 sales below $400,000. You can see how this surge in higher price homes has pushed up the average sales price in Windham. This is good news for sellers with homes priced above $400,000.

Condominium sales were even stronger with 6 selling in the first quarter of 2012 vs. just 2 in 2011 or a 200% increase. The average sales price of a condominium dropped from $298,266 to $260,766. This decrease may be reflective of a large condominium development in town that is winding down.

Overall, the southern New Hampshire real estate market is showing improvement in the number of sales and in the upper price ranges, especially in Windham.

This representation is based in whole or in part on data supplied by the Multiple Listing Service of the Granite State South Board of REALTORS, Inc. Neither the board or its M.L.S. guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its M.L.S. may not reflect all activity in the market. Sales of Windham Homes and Condominiums in the first quarter of 2011 and 2012

H&B Homes has authorized up to $15,000 in savings on the standing inventory at Spruce Pond Estates. The builders are preparing to start construction in the next phase of the development so they want to move existing inventory now! They are offering a tremendous savings on the three standing homes in Spruce Pond Estates which offers you a tremendous opportunity if you act quickly.

The Spring Savings are being offered on these three homes that are available for quick closing.

$544,900 NOW $529,900	$519,900 NOW $504,900	$484,900 NOW $479,900

Why not check out these great values this Sunday between 12-3 at Spruce Pond Estates

As always there is an open house very Sunday from 12-3. You can meet with a sale professional who knows all about the area and can help you explore your optiond at Spruce Pond Estates. You can always also arrange a private showing.

The Associated Press is reporting that the interest rate on a 30 year fixed rate mortgage has crossed above 4% for the first time in 3 months. If you’ve been delaying the purchase of a home in southern New Hampshire you may want to accelerate your buying plans. Locking in a low interest rate on a home mortgage could be one of the best financial moves you could make. For those of you too young to remember, I will remind you of a time, long, long ago, in the 1980′s when the 30 year fixed interest rate was above 18%. When they finally dropped to 12% we all though we had reached nirvana. A 4% mortgage interest rate is an aberation which is not like to last and if inflation picks up it will be nothing but a fading memory. While neither NAR, Fannie Mae or Freddie Mac are predicting any large spikes up in interest rates, even a modest increase can affect the affordability of a home.

WASHINGTON (AP) — The average rate in the U.S. on a 30-year fixed mortgage rose above 4 percent for the first time in more than three months. The sharp increase suggests the window to buy or refinance a home at historically low rates is closing.  Mortgage buyer Freddie Mac says the rate on the 30-year loan jumped to 4.08 percent, up from 3.92 percent the previous week. A month ago, it touched 3.87 percent, the lowest since long-term mortgages began in the 1950s.  The average on the 15-year fixed mortgage rose to 3.30 percent, up from 3.16 percent last week and a record low of 3.13 percent two weeks ago.   The low rates have been among the positive signs that suggest the housing market could pick up this year.

     It is being reported on the news from both the real estate and home-building industry that things are picking up in the housing market nationwide. There is also some interesting trends right here in Windham, New Hampshire. While six weeks of statistics can’t predict much about what will happen in real estate in 2012, they do give us a small glimpse into the future.

Wow! Closed sales of single family homes in Windham were up a whopping 100% in 2012 for the period between January 1^st and February 15^th. 10 homes closed this year versus 5 homes last year at the same time. While this is great news it should be remembered that most of these sales were put under agreement before the New Year and are just closing now. There is also something very interesting about the homes that sold.  50% of the homes sold were priced above $400,000. So of the ten homes sold 5 were priced above $400,000 and 5 were priced below $400,000. This compares to the same period last year when the four of the five homes that sold were priced below $400,000 and one sold just over at $415,000. The average Sales price in 2012 was $451,391 versus $306,900 in 2011 an increase of 47%.  This indicates much stronger activity in the upper end of the market.

Now, for the less encouraging news about the Windham market in 2012. Pending sales during the first six weeks of 2012 declined 21.4%. 11 homes were placed “Pending” in 2012 versus 14 in 2012. This is not a wholly reliable statistic since the M.L.S. uses both “Pending” and “Contingent” to count homes that under agreement. Of the 21 homes that are pending or contingent in Windham as of 02/17/2012 11 are priced over $400,000 and 10 are priced below. Of course, you could just chalk the decline up to the distraction of the Patriots in the Super Bowl.    In the condominium market 2 units closed in 2012 versus 0 units in 2011.

For Rockingham County as a whole for the period of January 1^st to February 15^th, single family homes closed sales increased from 177 in 2011 to 206 in 2012 a 16.3% increase.  Condominium closed sales increased from 51 in 2011 to 68 in 2012 or a 33% increase. Pending sales volume remained about the same for combined condominium and single family, declining just 1.2%.

Again, you’re grasping at straws when you try to use six weeks of data to see the future of the market but in spite of that, it was an interesting six weeks indeed.

This representation is based in whole or in part on data supplied by the Multiple Listing Service of the Granite State South Board of REALTORS, Inc. Neither the board or its M.L.S. guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its M.L.S. may not reflect all activity in the market. Sales of Windham Homes and Condominiums from 01-01-2012 to 02/15/2012

“Stone-Arch” is a magnificent waterfront property on Canobie Lake, which is set on 2.6 acres of land, with incredible privacy provided by 730 feet of frontage. It is on of my favorite properties in Windham NH. When you are ont the property you are taken by the incredible setting and the history associates with the stone arch. The massive stone arch serves as a reminder of the property’s past as part of the fabled Searles Estate and provides a masterful focal point. You will be captivated by the tapestry of changing scenery as Canobie Lake moves from season to season.The beautiful contemporary home was designed by architect John Minton and has been tastefully updated by the current owners. The use of wood, stone and other natural materials make a dramatic statement while fitting in perfectly with the pristine surroundings. The open interior takes advantage of full glass window walls that open the views of the lake from all the principle rooms.

Beautiful custom kitchen with rich wood cabinets and stainless steel appliances, granite counters, tiled backsplash. Great-room with stone fireplace and soaring vaulted ceilings. Intimate family room with fireplace and boxed bay window just steps away from a beautifully crafted wet-bar. First floor master bedroom suite. Bonus room over garage with adjacent office. The convenience of a two car attached garage. All in a one of a kind setting.

The property is located in a cul-de-sace neighborhood with very easy access to Interstate 93 and Boston which is just 35 miles to the south. One of the best waterfront values at $849,900

Wow! Its been an incredible year at Spruce Pond Estates in Windham New Hampshire. We’ve sold lots of new homes in this beautiful neighborhood. You really should check it out this weekend. There is always an open house on Sunday from 12-3.

The Wilson II model that has just been put up went under agreement last week. The Nathan model features a new floorplan with a beautiful foyer with angled staircase opening to a second floor bridge overlooking the two story great-room. Spacious custom kitchen  Kitchen open to large dining area which opens to the two story great-room with transom windows and fireplace. Lovely formal diningroom and livingroom.  2nd floor with 4 large bedrooms. Master has a luxurious tiled, glassed in shower. Slider and windows from walk-out lower level. Plus the convenience of a two car attached garage. Quality construction and generous allowances for $544,900

Their is also a Morrion model nearing completion that features a finished third floor walk-up bonuse room. This popular style features and wonderful kitchen, familyroom combination. The familyroom features cathedral ceilings and a fireplace. Plus there is a three car garage. best of all it is offered at just $484,900. The builders are always willing to talk with you about building a home and a custom Bradford model is now nearing completion.

The new road that will link Spruce Pond Estates to the center of Windham is also nearing completion. The rail trail overpass bridge is almost complete and lots will be available in the Spring.

Directions: From I-93 take exit 3. Right on 111. Left on 28. Follow 28 about 2 miles. Spruce Pond is on the left. Watch for open house signs.

Its been an exiting year at Spruce Pond Estates in Windham NH. The current phase is shaping up nicely with many of the spec homes being enjoyed by new owners and other currently under agreement with buyers making their selections. Distinctive custom homes are being bulit on several lots with occupancy scheduled before the end of the year. A new road is being built which will connect this neighborhood to the Mitchell Pond neighborhood and provide easy access to the Windham recreational trail and the center of town. This will open a large selection of new lots for 2012.

There is only one spec home left that is up and ready for quick occupancy.  This home is a great value at just $514,900 and is being used as the model until it is sold. It offers an impressive open foyer. Formal living room. A great-room kitchen with beautiful custom details all opening to the family room with fireplace. Spacious master suite with spa bath. Gorgeous leaded window over the spa tub and in the kitchen. Handsome wainscoting in the dining room. The convenience of a two car attached garage and a walk-out basement with daylight windows! The home is set on a beautiful lot with a big deck overlooking the back yard.

Foundations are in for two new home styles. The rendering and plans shown above are  for a distinctive home that features a two story great-room. There is also and impressive two story foyer and with a landing overlooking the great room. There is a spacious master bedroom suite and the convenience of a two car attached garage. If you are looking for something different this may be the home for you!

As always there is an open house very Sunday from 12-3. You can meet with a sale professional who knows all about the area and can help you explore your opens at Spruce Pond Estates. You can also arrange a private showing by contacting us.

            Real estate consumers are realizing that there has rarely been a better time to buy a home. In fact, historically low mortgage rates coupled with lower home prices have even sparked bidding competition in markets around the country.

A good home in a solid location may attract ample attention only hours after being listed. Home buyers can make their offers stand out from the rest through one or more of the following strategies:

            Price. Obviously, price tends to be the primary consideration for sellers. When you’re competing for a home, to get an edge, think about adding a clause stating that you will beat the highest offer by “x” dollars up to “x” amount. Cash offers can be more attractive to sellers as well. Although sellers will receive their money at closing whether buyers pay with cash or take out a loan, cash offers don’t require lender approval.

Financing. It’s not enough to be pre-qualified. Pre-qualification only tells how much you can afford. Pre-approval goes a step further. Your lender will thoroughly evaluate your application—including verifying employment information and financial disposition—then clear you for a loan of a determined amount. Having your loan pre-approved gives you a sizeable advantage by putting you on equal footing with cash buyers.

Good Faith Deposit. Buyers offering a larger-than-customary amount of “earnest money,” a deposit that accompanies an offer, may get a seller’s attention. By committing more money up front, buyers demonstrate greater sincerity and motivation to close the transaction. Your real estate professional can guide you as to the appropriate sum for your specific transaction.

            Contingencies. Consider minimizing contingencies, those clauses that allow buyers to back out of a contract if certain conditions are not met. For example, it’s common for buyers to make the purchase contingent upon their securing satisfactory financing. Obviously, offers with the fewest conditions tend to be more attractive to sellers.

From a contingency standpoint, first-time buyers are often better prospects for a seller’s home than move-up buyers. That’s because first-time buyers’ offers are not contingent upon the sale of a present home. Even if a move-up buyer has an offer in hand, that buyer’s offer may be contingent on another contingency, and so on down the line. If one transaction derails, they all might.

            Relationship. Help the seller get to know and identify with you by looking for ways to connect. Find common interests, such as a shared appreciation of gardening. You can then persuade the seller that her prize roses will be well tended. Share brief family stories. The more the seller gets to know and like you, the better chance your offer will stand out in a competitive environment. 

            Considerations for Short-sale and Foreclosure Transactions – Bank-owned properties represent a significant portion of today’s housing inventory. Competition can be most keen for these homes as their prices can run 10% to 20% below current market value.

            Banks conduct extensive research to set these prices and generally base them on current market value less the cost of required repairs. Make your offer based on your own check of comparable sales and other due diligence. Banks won’t get offended by a low offer, yet a realistic offer will more likely keep you in the running.

            Remember, patience is essential when buying bank-owned property as the process can take up to six months and longer.  

      Work with your local Prudential Real Estate sales professional to buy your dream home or investment property. His or her knowledge, skill and expertise will help you make sound real estate decisions today or any other time.

Prudential Dinsmore Associates, REALTORS is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

When listing their home for sale, the only commission number sellers typically pay attention to is the “gross commission” charged by the listing agent. One broker may charge a little more, another a little less, and that gross commission number can become a huge factor in who a seller lists with.

 But there’s another number on the listing agreement that is equally, if not more, important — the “co-broke” commission (or portion of the gross commission) that the listing broker will offer to another cooperating broker who brings the eventual buyer. Some brokers do offer a 50/50 split but quite a few don’t, only offering a smaller fraction of the gross commission to a cooperating broker.

As a seller, should this matter to you? Absolutely. It is more likely that the buyer for your house will come through a cooperating broker, not your listing broker. In fact, of the 77 single family and condominium sales handled through the NNEREN Multiple Listing Service, during the first half of 2011 in Windham NH, 77% were sold by a brokerage other than the listing broker! (Note: that isn’t another agent in the same company, but an entirely different brokerage company altogether.) So it is important for you as a seller to know what competing sellers (listings) are offering for cobroke fees.

If a seller presses a listing agent on why they aren’t offering an equal commission split, they’re likely to get a laundry list of reasons such as they need to keep a bigger share of the commission because of the costly marketing and adverting they’re going to put behind your property. But unless they’re doing some special niche marketing on your property alone, say advertising a horse property in horse magazines, or an estate in many elite publications, that argument is very hollow.  At Prudential Dinsmore Associates, REALTORS we also invest in marketing and advertising to attract buyers yet we still offer a 50/50 co-broke fee because we feel it is in the best interest of the Seller to do so.

Frankly, given the data and the fact we are in a Buyer’s market, an adequate amount of your commission dollars should be targeted at motivating cooperating brokers to short list, show and sell your house. We would even go so far to venture that, particularly for higher priced properties, a strategy to generate interest among an appropriate group of cooperating agents can be more important than slick advertising. 

 The 50/50 split is not only a great marketing strategy in a buyer’s market it is also a fair way to compensate the sales professional who may be bringing the buyer into the transaction.  Most of all, it is fair to you as a Seller.

If you’re getting ready to sell your home please feel free to contact us so we can explain our 50/50 cobroke split plan and how it could benfit you along with all of our other effective market strategies. Contact us at prudinsmore@att.net

Have you been looking to move into Windham NH and felt priced out of the market? Things have changed dramatically in this southern New Hampshire town with affordable homes and condominiums being in large supply. There are 72 single family homes and condominiums on the market between $150,000 and $300,000 as of June 15th. Who wouldn’t want to move into this desirable town with its renowned schools, state of the art high school and a location near interstate 93 that can’t be beat! Here as a few of the homes in our inventory in the affordable price range in Windham. Just click on the photos for full details:

$299,900	$279,900	$279,900

$279,900  Sale Pending	55+ $184,900	$219,900

$259,900  Sale Pending	$245,900	$239,950