Wednesday, November 25, 2015

Economic Commentary from one of my mortgage people

I have several lenders who provide me with information about the mortgage market I thought it would be good to add their information to my blog for all my reader to read.  Especially with the word on the street saying interest rates might be going up. 

Happy Thanksgiving.

Deb Roberts
Subject: Economic Commentary from Peter Jennings, November 25, 2015

 

Current Economic News

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Peter Jennings
Licensed Loan Officer
Merrimack Mortgage Company, LLC
603-865-5686
pjennings@merrimackmortgage.com

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Quiet Thanksgiving Week


Despite an increase in geopolitical tension, it was a quiet week for mortgage rates. The major recent economic data contained few surprises. Mortgage rates ended the week slightly lower.

The recent major economic data met or exceeded expectations nearly across the board, keeping the outlook for a likely Fed rate hike on December 16 on track. Third quarter Gross Domestic Product (GDP), the broadest measure of economic growth, was revised higher at 2.1% from 1.5%. Durable orders, another important indicator of economic activity, picked up strongly in October. Personal income showed solid growth in October as well.

The recent housing data came in very close to the expected levels. October existing home sales declined a little from September, but remained near the best levels of the year, and were 4% higher than a year ago. The inventory of existing homes for sale declined. October new home sales surged 11% from September, and the inventory increased to the highest level since early 2010. Since new home sales measure contracts signed, while existing sales measure closings, new home sales better reflect current activity.

Looking ahead, the report on pending home sales will be released on November 30. The ISM national manufacturing index will come out on December 1. The next Employment report will be released on December 4. Events outside the U.S. could influence mortgage rates as well. An escalation in the recent violence could cause investors to shift to safer assets. The European Central Bank meeting on December 3 also could have an impact on bond yields around the world.


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Commentary provided by MBSQuoteline. For live MBS pricing visit www.mbsquoteline.com.

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This email was sent by:
Peter Jennings
NMLS #333292; Licensed in NH, VT & FL; Branch NMLS #254998
Merrimack Mortgage Company, LLC
NMLS ID #2561

120 Route 10 S
Grantham, NH 03753

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This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.

This letter is for informational purposes only and is not an offer to extend credit. Program, rates, terms and conditions are subject to change and underwriting approval. Merrimack Mortgage Company, LLC. NMLS ID #2561. Licensed by the New Hampshire Banking Department, Additionally licensed in ME, VT, Rhode Island Licensed Lender, Licensed by the New Jersey Department of Banking and Insurance. Federally registered in Florida, Connecticut, Massachusetts and Pennsylvania. 11/15

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I am never to busy for your referrals

*The listings in the chart above are subject to errors, omissions, and changes without prior notice. Information was downloaded from NNEREN. RE/MAX Upper Valley may or may not be the listing agent for these properties. Additional properties not on MLS may be available and not referenced

*Your information is not confidential until you have entered into an agreement for representation

Click here to view NH Brokerage Relationship Disclosure Form

Click here to view VT Mandatory Consumer Disclosure

Thank you for your time;

Deb Roberts CHMS

RE/MAX Upper Valley Partners

Upper Valley Realtor of the Year 2010

| mobile: 603-381-3977 | www.DebHome4U.com | 603-298-8900

Licensed in New Hampshire and Vermont

 

 

Monday, November 23, 2015

Year to Date 2015 Hanover Residential Market

Hanover MARKET OVERVIEW

The residential market in Hanover has continued to rise through November 2015, with a 6.1% increase in sale price over 2014. Number of home sold year to date 72,  compared to a total of 80 homes sold in 2014. Currently with 9 homes pending sale, Hanover will sell more homes this year than in 2014.  Average days on market are only 27, the Hanover market does not look like it will slow anytime soon. 

If you are interested in understanding how your market is in either New Hampshire or Vermont please feel free to email me at Deb@uvmaxre.com for your individual information.

 

DEFINITIONS

Transactions are the total number of closed residential (Single Family) transactions during the given month.

Median Sales Price is the median price of all specified properties sold during the specified time period.

MLS data has been used, while MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time.  

I am never to busy for your referrals

*The listings in the chart above are subject to errors, omissions, and changes without prior notice. Information was downloaded from NNEREN. RE/MAX Upper Valley may or may not be the listing agent for these properties. Additional properties not on MLS may be available and not referenced

*Your information is not confidential until you have entered into an agreement for representation

Click here to view NH Brokerage Relationship Disclosure Form

Click here to view VT Mandatory Consumer Disclosure

Thank you for your time;

Deb Roberts CHMS

RE/MAX Upper Valley Partners

Upper Valley Realtor of the Year 2010

| mobile: 603-381-3977 | www.DebHome4U.com | 603-298-8900

Licensed in New Hampshire and Vermont

 

Wednesday, November 11, 2015

Heart of the Mt Sunapee Region Main Street New London $899.000


What is TRID (TILA-RESPA Integrated Disclosure) and what do Buyers need to know.

October 1, the home loan process changed.  Below is information from one of my trusted mortgage companies if your are thinking of Buying a new home.  Word this morning was interest rates may have to go up very soon.

 

 

 

I am never to busy for your referrals

*The listings in the chart above are subject to errors, omissions, and changes without prior notice. Information was downloaded from NNEREN. RE/MAX Upper Valley may or may not be the listing agent for these properties. Additional properties not on MLS may be available and not referenced

*Your information is not confidential until you have entered into an agreement for representation

Click here to view NH Brokerage Relationship Disclosure Form

Click here to view VT Mandatory Consumer Disclosure

Thank you for your time;

Deb Roberts CHMS

RE/MAX Upper Valley Partners

Upper Valley Realtor of the Year 2010

| mobile: 603-381-3977 | www.DebHome4U.com | 603-298-8900

Licensed in New Hampshire and Vermont

 

Are you Ready to Sell, Downsizing?

Are you just becoming an empty nester or is your home slowly taking on dust in rooms you never use?  Almost everyone reaches a point where they need to downsize,  just don't know where to start. Are you planning to move to a smaller home were in the Upper Valley of New Hampshire or Vermont, or the Lake Sunapee Region of NH?  Are you are thinking, if I had a smaller home here, I could also have a smaller home there also.  I could travel.  I have helped many Sellers and Buyers through this process.  Are you prepared  to downsize your home?  The list below may help.

1.  Time  Over the years of owning a home we collect, we espier to our space.  We also have people move from our homes, when they move usually they are not able to take all that they have accumulated with them, so we become storage for our loved ones stuff.  When people call me they usually have a need to sell now.  It's not fair to think you can get rid of decades' worth of keepsakes, furniture and just plain stuff in only a week or two.  I want you to give yourself a few months at least for downsizing.   In our area the winter months are a perfect time for downsizing, sitting by the fire going through papers on a cold day.

2.  Your things have value to another person Today online yard sale sites are all over the place in our area.  Take a picture,  post that picture, with a price, the buyer will come to your door.  If you don't want to be bothered with pictures and publishing, I have people who will take it away and do it for you.  Recycling as much as possible is my saying, we live in a throw away world.  Donating your goods to local resale stores that help the community.  Many will pick up large items at your door.  Listen is one of my favorites.     

3. Contact family members  As parents we keep boxes of trophies, artwork, report cards and home videos for each child. Invite your kids, nieces and nephews or grandchildren to the house, go through the memories, let them decide what is important to keep.  Tell everyone ahead of time that anything they want to keep needs to leave with them that day, have plastic totes available for them to fill.   Any items left will be recycled. 

If you have large items that you are storing for family members who are not able to come to go through items,  we have storage facilities for $100 a month.  You can rent the unit, pay several months rent, and send the information to the family member who's items are in the unit, let them know things are safe, rent is paid until ?   Giving them time to go through items or pay the storage takes the burden off you.

4.  Paperwork  Most people save tax returns and old paperwork forever.  Until we move we don't realize how many years we have saved.  I moved recently and found 15 years of tax returns.  Winter is a good time to go through paperwork especially if you have a wood stove, burn it to protect your identity.     You only need to save 7 years return according to the IRS.   No wood stove, make sure you shred all the documents you recycle.

5. Get started by paring down items without sentimental value To really get started with a bang, start with all the extras that we save in the kitchen and bathrooms.  Going through the back up stock, donating to a local food pantry or thrift store.   It is so much easier to recycle extra baking dishes that you may use once a year if you are lucky, or extra soap or shampoo, then it is to recycle your son's box full of comic books. You want to feel successful from the start, these rooms usually are an easy start. 

6. If you don't wear it, donate it. Our closet oh my.  We all know "everything old becomes new again someday,"  You're downsizing, you don't want to move it. With very few exceptions, you should get rid of any clothing items you haven't worn in the last year years.  An easy way to work through this process if you have given yourself time is to go into your closet and turn all your hangers hooks side out.  When you wear something hang it back hook side in.  After a while you will see the pattern of what you are currently wearing and what needs to be weeded and recycled to Listen.  If you're recently retired, your recycled suits and clothing will help someone who will start wearing them all over again.  

7. No "maybe" pile When going through closets, follow this rule—"only handle it once." Avoid the "maybe" pile, this pile adds hours when it's finally time to load the moving truck

8. Furniture Downsizing usually means your family dining room set may not fit your new home.  Also talk with a moving company get an estimate on moving costs, you will be surprised how much it cost today.  When your house is on the market you don't want empty rooms, but you also don't want a buyer to be intimidated by your stuff.  Less is more when buyers are looking at your home.  Again Listen will pick up unwanted items and recycle them to people who will use them.  Moving can give you a fresh start, you don't have to bring it with you. Downsizing is a great time to start fresh with modern couches, chairs and tables that suit your new home.

9.  How to get started   Upsizing or downsizing, I am more than happy to meet with you in advance of your listing agreement.  I can help you determine a fair market price for your home as is.  I can help guide you toward the fixes or remodeling that will give you the highest bang for your buck when selling.  I can connect you with professional who I know and use on a regular basis, inspectors, painting, upgrading, even remodeling.  I am ready to be on your side email to Deb@uvmaxre.com or give me a call 603-381-3977 today.

 

I am never to busy for your referrals

*The listings in the chart above are subject to errors, omissions, and changes without prior notice. Information was downloaded from NNEREN. RE/MAX Upper Valley may or may not be the listing agent for these properties. Additional properties not on MLS may be available and not referenced

*Your information is not confidential until you have entered into an agreement for representation

Click here to view NH Brokerage Relationship Disclosure Form

Click here to view VT Mandatory Consumer Disclosure

Thank you for your time;

Deb Roberts CHMS

RE/MAX Upper Valley Partners

Upper Valley Realtor of the Year 2010

| mobile: 603-381-3977 | www.DebHome4U.com | 603-298-8900

Licensed in New Hampshire and Vermont

 

Tuesday, November 10, 2015

Buyers and Sellers need local information to be Accurate

Many housing indices like those produced by Zillow or Nationally by National Association of  Realtors are too general for everyday real estate buying, selling and investing decisions.

I m willing to provide my customers and clients with house-specific index that gives a much more granular picture of our local housing market ...  All you have to do is ask. 

I can make the information specific to a neighborhood or town, or even a area of interest.  Tax information, past sales anything that you need to be a smart investor in the real estate market.

Contact me today for more information Deb@uvmaxre.com

And check out my new listing only 5 minutes to Dartmouth in Hanover NH

 

http://www.nnerenmls.com/nne/maildoc/rob3067_1447175342-Nov-10-2015-12_09_02pm.html

 

 

I am never to busy for your referrals

*The listings in the chart above are subject to errors, omissions, and changes without prior notice. Information was downloaded from NNEREN. RE/MAX Upper Valley may or may not be the listing agent for these properties. Additional properties not on MLS may be available and not referenced

*Your information is not confidential until you have entered into an agreement for representation

Click here to view NH Brokerage Relationship Disclosure Form

Click here to view VT Mandatory Consumer Disclosure

Thank you for your time;

Deb Roberts CHMS

RE/MAX Upper Valley Partners

Upper Valley Realtor of the Year 2010

| mobile: 603-381-3977 | www.DebHome4U.com | 603-298-8900

Licensed in New Hampshire and Vermont

 

Monday, November 9, 2015

Solarize Lebanon area Success

The tax credits are worth looking into.   

The Solarize Lebanon-Enfield program ended on October 31, having beyond our initial goal of doubling the number of solar installations in our communities. We ended up with 43 contracts signed (27 in Lebanon, 16 in Enfield), representing 314.25 kW of new solar power coming to our towns, and putting us in Tier 5 of the pricing scale, the lowest price for all.  At present, three installations are up and running. Installations will continue until the snow flies, and the remainder will be completed in the spring of 2016.

If you or someone you know is still interested in going solar, information about how to move forward can be found on our Vital Communities website. vitalcommunities.org/energy/solarize/lebanon-enfield
It is not too late to contact an area installer, get a quote and add your name to the Liberty Utilities wait list for when net metering resumes, we hope, in early 2016. We will also continue to keep you in the loop on other projects and events related to energy in our communities.


The program had its share of hardships as we moved through the summer. Limited funds caused a hold and then a reduction in the NH state rebate. Liberty Utilities reached it's net metering cap in July, requiring that many homeowners get on a waitlist before going solar. The success of our program despite these setbacks can be directly attributed to the support that we have received from you, our supporters and interested residents in our communities. Thank you for following our updates, helping to spread the word, considering solar energy for your homes, advocating for policies that help homeowners go solar, and helping out in more ways than we can list here.

Sincerely, and gratefully,

The Solarize Lebanon-Enfield Volunteer Team

Saturday, November 7, 2015

4 Foster Place Beautiful Antique Updated Home

MLS 4426610

Take a look at this home, middle of town on a private 5+ acres no one even knows your there.  5 minutes to I-91 and 30 minutes to Hanover.  If this home were in downtown Hanover NH a Buyer would be paying in the range of $1,399,000 or more instead of $399,000

This home would decorate beautiful for the Holidays great place to entertain.  Large media room with all the bells and whistles.  Large flat yard for easy maintenance.

Contact Deb@uvmaxre.com for a full packet on this home.  Great ready for Christmas

MLS 4423836

MLS 4423836

MLS 4437424

MLS 4424523

MLS 4438638

Are you thinking about building?  I have posted 4 lots that might be of interest.

There are many lots available for sale in Hanover NH, Springfield NH, Grantham NH, Croydon NH, Lebanon NH and Sunapee NH.  All areas are within 15 minutes of Dartmouth Hitchcock Hospital and the Upper Valley for employment and shopping.

When building there are many things to think about.  The cost is number one, how to get what you want but in an affordable way.  Construction cost in the Upper Valley area are over $200 a sq ft. unless you are going to do all the construction yourself.

Tiny homes are the new wave for people who want to downsize or want a smaller foot print in our world.  If your thinking tiny think about a duplex.  2 homes connected, one can be rented to help pay the taxes.

Think about Solar, tax credits from New Hampshire and the federal government add up to big savings. 

My 28 year old son is building a 600 square foot home, he wanted 250 sq ft but being a realtor I convinced him to build a little bigger.  He wanted a composting system, I also convinced him to go with a septic system.  If you build and want to have a mortgage you will need a septic system especially if you want to be able to sell.  No septic means a much higher down payment or equity in the property is needed.  Passive solar always good, sun room, attached green house very good ideas.

I will post pictures as his house comes along.  He is building on a large piece of land in Springfield NH.