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Archive for March, 2010

Ok… that is only if you were planning on selling this spring or summer…lol I do believe that tomorrow is THE best day of the year to list your property. I base that on some unique circumstances. As you know, the real estate market is somewhat turbulent and has been somewhat sustained by the current Federal 1st time homebuyer grant which expire on 4/30/10. 1st time homebuyers currently makes up more than 60 percent of the purchases and a high amount of those buyers who intend on buying in 2010 will try to buy by the end of April. As a result, May, June, July and August will have less 1st time buyers than normal as many of them will “buy early”. Less buyers on May 1 means less demand and ultimately lower short term prices. Traditionally April is a strong month in real estate and this April should be a whirlwind. While I cannot always predict the future, I will step out on a limb and say that your house will be worth LESS from May to August than in April. If you need to sell by the end of summer than here is your plan of action to maximize you sale

1. Contact your US or your favorite Realtor TOMMOROW

2. Have a professional appraisal and/or market analysis done by Friday

3. List your home with US or your favorite Realtor by Monday

4. Have US or your Realtor BLITZ the market for 30 days to get your highest April offer

5. Have US or your Realtor schedule a broker’s open house on Weds 4/7

6. Have US or your Realtor schedule an open house

7. Have US or your Realtor work their tale off for 30 days to get you the highest price you will ever get in the next several months

If you would like a market analysis for your Greater Manchester and Southern NH home then contact Jack Lavoie or Kim Overby at 603-644-1000. If you don’t need to sell then you can wait. If you need to sell THIS year then you need to hire US TOMMOROW.

P.S. Dont even think about selling FSBO this month! This is an opportunity that can’t be missed and not the time to roll the dice.

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An important part of my job as an appraiser, broker and investor is to analyze the markets. Each month I run statistics on several representative cities and towns in the state. By simply tracking “Supply”, it give you insight on the current state of the market and short term future values. I calculate supply by dividing the average amount of sales in the last 3 months into the current amount of listings. As an example, if there were 60 sales over the last 3 months (20 per month) and 120 current listings, the supply would be 6 months. 120/20=6.0. The higher the supply number, the more oversupplied the market. Below are the following Supply in terms of months.

Manchester 10.40 months
Bedford 11.50 months
Nashua 9.59 months
Concord 14.80 months
Portsmouth 15.5 months
Laconia 18.80 months

If you would like a custom market analysis for your town, city or neighborhood, email me at jacklavoie@comcast.net or call me at 603-644-1000.

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Here is an interesting article in the today’s Manchester Union Leader which talks about the number of bankruptcies, forecloses, and late mortgage status among various homeowner/loan groups in New Hampshire.

ARTICLE IN TODAY’S UNION LEADER

It will be interesting how this impacts the real estate market. I track sales/data each month myself in several sectors and have noticed a dramatic slowdown in sales activity throughout the winter. Some of the slowdown is attritributed to winter/season, but some of it may not. I do believe that spring will help and I am eager to analyze the numbers over the next few months.

If you have specific question about a real estate matter please don’t hesitate to call me at 603-644-1000.

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Did you know that the last few house finishing touches are the most profitable? When I taught investing classes and worked with my clients I would view the properties they were fixing up and were amazed that they would do a terrific job on the major items, but leave the last few details either unfinished or rather blaaaaah. When selling in home, you need to make your house stand out in this competitive market.

I have a good friend in the business. She is an accomplished broker and has done an unbelieable job in her brokerage business using her professional staging techniques. She would tell you that staging a house makes an unbelievable difference, not only in the price of the home, but also in the reduced marketing times. I remember working with her and her telling me of a listing in Bedford that she sold. In that transaction, the house was dreary and each of the other broker who provided CMA’s said the house would sell in the Mid $400’s. She ended up getting the listing and spent 2 days with the seller “Staging” and doing a “mini-make over”. She ended up listing the property for $529,000 and sold it for $529,000 in 7 Days!!!!. Staging got the seller’s about $70,000 more on the sale. Isn’t it worth the time, effort or money?

The point is that if you want top dollar, you can’t have a bargain basement home presentation. Whether you have a million dollar home in Bedford, a starter home in Manchester or a condo at Hampton Beach you must STAGE!!!!!.

You are a seller, investor, or broker looking to sell a home in this market….. “ya gott” stage it!!!

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