Windham $264,900

This really great home has been completely renovated. There is a dramatic custom kitchen with burlwood contemporary cabinetry and stainless steel appliances. There are wood laminate floors in the spacious great-room with a new propane fireplace with handsome surround. There are two bedrooms on the second floor plus a third floor loft that would make a great kids room. All new baths. Set on 1.14 acres. This is a great condo alternative! All you have to do is move in.

Windham $269,900

The second affordable, new, Windham listing is located on a 2.75 acre lot in a quiet area. This distinctive colonial home has three very spacious bedroom and 2.5 baths. There is a beautiful kitchen that opens to the familyroom with a fireplace. There is also a formal diningroom for those holiday and special occasions and a big livingroom. One of the nicest features is the sunroom with it’s cathedral ceilings, skylights and window walls overlooking the wooded yard. This great home can be yours for the very affordable price of just $269,900.

So if you’re looking for an affordable home, don’t rule Windham NH out. Contact us so we can tell you about everything that is on the market.

The upsurge in demand locally has been driven by the return of buyers in the all important $400,000 to $600,000 price range, where much of the Windham market inventory exists. Last year the market was all about first time buyers and the Windham market suffered as a result. What a difference a year can make! One of the most encouraging signs in this market segment has been the return of the relocation buyer which is an indication that large corporations have the confidence to start relocating employees.

In the first half of 2010, 91 single family homes sold in Windham, with 38 in the $400,000 to $600,000 price range. This segment represents over 40% of the market activity so far this year. Over 58 sales or over 60% of single family sales were in the $300,000 to $600,000 price range. If there is a weakness in the Windham market it is in the $700,000 plus range. Only one home, a waterfront property on Canobie Lake, sold for over $700,000 during the first half of 2010. This matched 2009 when there had been only one sale over $700,000 before June 30th. By the end of 2009, 6 homes over $700,000 had closed, many of which were waterfront properties on Cobbett’s Pond. In my past experience, the upper range sales usually are more prevalent in the last half of the year.

This compares to the first half of 2009 when 55 single family homes sold in Windham with 22 in the $400,000 and $600,000 price range. In 2009, 34 sales were in the $300,000 to $600,000 price range.

The Windham condominium market has also seen an upsurge in 2010. There were 21 condominium sales in the first 6 months of 2010 as compared to only 8 during the same period of 2009.

So how does all of this compare to the nostalgic days of 2005? Well in the first six months of 2005, 141 homes and condominiums sold in Windham. That was a decrease from 2004 when 163 homes and condominiums sold during the same period. The average selling price for homes and condominiums in 2005 was $420,822 which was a 6.7% increase over the $386,488 average sale price for the same period in 2004.

One thing missing so far this year in the Windham market were bank owned sales. There were very few homes sold in Windham that were bank owned. This may not be the case in the future. It was reported in the Eagle Tribune, that Cathy Stacey, the registrar of Deeds, has seen a surge of foreclosures, up 32% in Rockingham County, in the first half of 2010. Most of these will translate into bank owned inventory in the future.

So what is ahead for the Windham real estate market? Nationwide the National Association of REALTORS is reporting that pending home sales dropped 30% in May nationally and 31.6% in the northeast. Currently, there are 40 homes pending in Windham. What will happen to the market in Windham for the rest of 2010? No one can predict the future but the past six months show a housing market that is returning to normal. Being a real estate professional, I now have to give you the obligatory admonishment that now is the time to buy or sell a home. Rather than being self serving though, this just may be good advice for both buyers and sellers. If you are a buyer, sure you missed the government handout, I mean tax credit, but you may gain that back in better pricing as the surge of first time and trade-up buyers fade. You also have an opportunity to lock in an interest rate, in the unheard of 4% range, but don’t hesitate, because rates don’t always just go down. Once upon a time, not so long ago, 8% was considered a great mortgage rate because they had dropped from 17%. For sellers, the advice is always the same, pricing is the key, and you have to price your home like it has to be sold in 90 days or less. You never know what lies ahead for the economy, what competing property will come onto the market that will upstage your home or what will happen in the local real estate market.

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 01-01-2010 to 06-30-2010

1. Close proximity to Boston – Live in Southern NH and you’ll have an easy commute to work. Londonderry is 45 miles away; Windham is 38 miles to Boston

2. Small Town Beauty – For example, Londonderry has five orchards located right in town: The state of New Hampshire has designated the roads connecting these orchards as a scenic highway called “The Apple Way.”

3. Terrific new developments – Spruce Pond Estates is both affordable and fabulous (prices start at $389,900 for 2128 SF; amenities include open floor plan, huge eat-in kitchens, gas fire place, 4 bedrooms, Master bedroom with walk-in closet).

4. Great Schools – Two examples for starters: Londonderry and Windham. Londonderry is one of the few communities in southern New Hampshire to offer public kindergarten. Londonderry High School has undergone a major renovation and expansion. Learn more about the Londonderry School District. Windham students earn consistently high national test scores.

5. Affordability – the best of Southern NH just got a bit more affordable. Let’s start with these properties Windham and Londonderry under $500k:

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Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

Buckland $389,900

If you haven’t taken the time to check out Spruce Pond Estates, you are missing one of the best opportunities to own a new home in southern New Hampshire. Where else can you find a new home in Windham NH starting at just $389,900?

The homes on Buckland Road have been a popular choice for buyers who have been priced out of Windham in the past. Currently there is one house available for a quick close or you can choose one of the other beautiful lots to build a home that exactly meets your needs. Don’t hesitate too long though because 10 homes have been sold or are pending in Spruce Pond Estates in 2010 and there has been one price increase.

The experienced builders at H&B Homes have been constructing homes in southern New Hampshire for over 30 years.  Past developements include, Braxton Woods, Nottingham, Carr Hill, Hadleigh Woods and others.

The Morrison starts at $464,900

The Morrison model which is currently offered at $464,900 has been a popular choice at Spruce Pond. Buyers are attracted to the spacious floorplan, the family room in the back of the house right off the kitchen and the three car garage.

H&B Homes team will work with you in building a home that specifically meets your needs. Homes with in-law apartment and first floor master bedrooms are available.

Of course, Spruce Pond Estates has easy access to Interstate 93 and the greater Boston area.

Overall the New Hampshire real estate market is showing signs of recovery as the new year begins. The numbers from the New Hampshire Association of REALTORS are reflecting what we are seeing in our own real estate business in southern New Hampshire. While the median sales price is up, that should not be misinterpreted by buyers or sellers that the sales prices of individual homes have had large price increases. Instead, what is happening is a shift in the type of home buyer in the southern New Hampshire real estate market. At this time last year, the real estate market was totally dominated by first time home buyers. This meant that the were a large number of low price home sales which naturally brought the median sales price down. This year, the market has returned to a more normal balance of home-buyers. There are a large number of buyers in the upper price ranges again, which were totally missing last year. We are seeing buyers in the $300,000 to $600,000 range which were non-existent in 2009. These include buyers that are again being relocated by their companies and people who are making a discretionary purchase to move up to a larger home.  We are also seeing a large increase in traffic and pending new homes sales in Spruce Pond Estates. The fact that these buyers are in the market again is a very positive sign for the real estate market in general in southern New Hampshire.

That being said, buyers need to know that there are still excellent values in the market. Home prices are well off their highs of 2004 and 2005. Sellers need to be aware that only competitively priced homes are selling and there is still a great deal of negotion required to put a sale together.  Appraisal issues are also affecting some sales. Some lenders are requiring comparable sales within a mile of the subject property that have sold within 3 months. This is a burden of proof that cannot be met in many places in southern New Hampshire where homes are on large lots and where good comparables are commonly found several miles from the subject property. Buyers should ask their lenders about their appraisal standards before making a committment or they may not be able to buy a home that is well worth what they have offered but which “doesn’t appraise” because of  underwriting requirements.

This is a portion of the the February 16, 2010, press release from the New Hampshire Association of REALTORS: “The positive momentum felt in the New Hampshire housing market during the second half of 2009 continued into January 2010, with the state’s residential home sales ahead of January 2009 by 16.5 percent.  This time, there is additional good news on the price side as well, as the median price of residential homes increased by 7.5 percent over the same period last year – the first month-over-month median price increase in 26 months and the largest such jump in 52 months.

According to data released this week by the New Hampshire Association of REALTORS® (NHAR), 529 single family homes sold in January 2010, a substantial gain from the 454 home sales in January 2009.  And the median price in that same period was $215,000 this year, compared to $200,000 of a year ago.

The last time home prices showed an increase for a single month over the same period from a year prior was November 2007, and the last time that increase was better than 7.5 percent was September 2005…”

Remember, there is still time to qualify for federal tax credits but you must act soon.

First-time home buyers dominated the U.S. real estate market in 2009, accounting for roughly half of all residential transactions, according to the National Associaition of REALTORS.

That trend is likely to continue well into the new year. That’s because interest rates are hovering near all-time lows, home-price affordability is near all-time highs and a third factor – Congress’ extension of the first-time homebuyer tax credit until April 30, 2010 – make conditions quite favorable for those considering homeownership for the first time.

Still, with the prospect of making one of the largest investments you’ll ever make in your life, you can easily become overwhelmed. Some of the questions you may be asking are: Will I be able to afford the home of my dreams? Do I have enough money for a down payment? Will I qualify for the tax credit? Will I make smart home buying decisions? If you go into the process prepared, your first purchase – like the current timing – can be just right.

Resources–Before starting out, educate yourself on the process. Attend a homebuyer seminar in your market, and check out the myriad real estate resources online. Among those helpful online resources is prudentialdinsmore.com, through which you can access thousands of property listings. Be sure to check out the “Buyer” tab where you can find valuable information about buying a home in southern New Hampshire. I-Central has a myriad of links to help answer all of your home buying questions. The “Southern NH Living” tab has detailed information and links about the towns of southern NH including detailed school information. Your real estate professional also is a great resource. Don’t hesitate to let him or her know that you are new to the process. Your real estate professional will expect you to have questions at each step, from house hunting to making an offer through closing. You should establish a business relationship with a competent real estate professional before you begin your home search. You can review Prudential Dinsmore Associates professional profiles here and then contact the agent that is the best fit for your needs. 

The costs involved in the purchase of a home can seem overwhelming to first-time homebuyers. There are mortgage costs, the down payment, and closing costs to think about.

Affordability–By looking at your income and debt ratio, your mortgage broker can help you calculate how much you can afford each month in mortgage payments. A sales professional can be a great source of information about which mortage professionals in southern New Hampshire have a strong track record for customer service.  But before determining your price range, you should also take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, insurance, homeowner association dues, utilities and maintenance. And if your down payment is less than 20 percent of the cost of the home, you will be responsible for private mortgage insurance, more commonly referred to as PMI. There are also new rules for FHA mortgages that are based on your credit score which may require a larger down payment for these types of loans.

Mortgage payment–Fear of being rejected for a home loan is one of the main concerns for first-time homebuyers. To lessen the stress, you may want to get pre-approved for a loan before looking at prospective homes. This will not only help you feel more confident, it will also give you an advantage where there are multiple offers for a specific property. In addition, the fact that your loan has already been approved is of great value to the seller because it shortens the purchase process, and there is less of a chance that the buyer will back out of the sale. If you don’t have a specific mortgage lender in mind, ask your sales professional for a recommendation.

Down payment–The down payment amount varies depending on the value of the home you choose and your mortgage lender. Your real estate professional will be able to explain the different options available to you.

Tax credit–The first-time homebuyer tax credit, a key component of the American Recovery and Reinvestment Act of 2009, equates to as much as $8,000, or 10% of a principal residence’s purchase price, and is available to those who have not owned a principal residence in the past three years. You can use the tax credit to help purchase your home or help pay for its closing costs, or the credit can be used to remodel, refurnish and repair your property. See your tax advisor for details about the tax-credit program and how you may benefit. 

Making offers–Don’t feel pressured into making an offer on the first home you see. This is a common mistake of many first-time homebuyers. Make sure you view different homes to get a feel for the marketplace. When you decide on a home to make a bid on, work with your real estate professional to get all of your questions answered before making an offer. But don’t wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal. This site allows you to search sold prices by town and street in southern New Hampshire.

Above all, remember there are no silly questions. Make sure you understand and are comfortable with every aspect of the transaction. Your real estate professional can be an invaluable asset in helping you make educated decisions so that your first home purchase is a rewarding experience.

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

Keep in mind that home pricing is based on many factors. It is important to have all the details about a sale including condition of the property, location factors and market conditions that affect value. This is where Prudential Dnsmore Associates can help you!  No matter whether you are buying or selling a home in southern New Hampshire, you need a real estate professional who knows the local real estate market inside and out.  When one of their agents is representing you they can prepare a market value report for you. This will provide you with all the information you need to understand current home pricing in southern NH. 

They would be glad to answer a question or have a sales professional to contact you a

Check out some of the holiday home values that are being offered right now. Click on picture for full details.

Windham: Initial List: $499,9000 Current Price: $459,900

Windham: Initial List: $443,000 Current Price: $429,900

Windham: Initial List: $479,900 Current Price: $429,900

Sold New Hampshire Waterfront: 28 Horseshoe Road, Windham, on Cobbett's Pond

The selling season on Cobbett’s Pond in Windham was one of the best in recent memory. The fact that this beautiful lake is within easy reach of I-93 and Boston has made Cobbetts a very desirable waterfront address.

Many waterfront homes changed  hands, including Prudential Dinsmore Associates, REALTOR’S listings at 28 Horseshoe Road and 16 North Shore Road. Both of these homes sold in a very short period of time indicating excellent demand exists for waterfront property on the lake. 28 Horseshoe Road was listed by Debbie St Jean and sold by Eliane Unsworth both with Prudential Dinsmore Associates.

28 Horseshoe Road closed for $1,250,000 and 16 North Shore Road closed for $815,0000.

Kristie Dinsmore of Prudential Dinsmore Associates also represented the buyers in the purchase of a single family detached condominium at Heron Cove which sold for $540,000.  Debbie St. Jean at Prudential Dinsmore Associates also worked with the buyers of 9 Grove Street which was a bank owned waterfront cottage which sold in March for $265,000.

There were also several private sales on the lake. 28 Ash Street was a waterfront contemporary which sold for $745,000 and 21 Rocky Ridge Road sold for $457,500 according to public records. 17 Armstrong Road, a year round waterfront cottage,  also sold privately for $280,000 according to public records. Currently (11/4/2009) there are two more homes pending on the lake.

The inventory in Windham on Cobbett’s Pond is still dynamic and varied. These two listings, Cobbett’s Pond waterfront and water access, give you an idea of the variety still avialable:

MLS# 2777196 - Windham 2-Bedroom - Cobbett's Pond Water Access This charming, reasonably priced Windham home has 2 bedrooms, a Boat Mooring, a wood fireplace, and 50′ of private water access for under $350K.

Windham NH Real Estate - Cobbetts' Pond Waterfront “Waterfront elegance with 114 feet of lake frontage on Cobbetts Pond” This spectacular property has 4 bedrooms, 3 bathrooms, custom kitchen,  and the “Luxurious master bedroom suite features spa bath with lake views” for less than $1M.