Mortgage Rate Increased This Week

I just read that the US rate on a 30-year mortgage increased this week to its highest level in seven months.  It rose to 3.63% from 3.52% last week.  No need to panic it’s still near the historic low.

The low mortgage rate has been instrumental in the recovery of the Real estate industry.  NH year over year housing sales are up over 10%.  Massachusetts single-family home sales have been on the increase year-over-year for twenty-two months running.  While sales are increasing, we are still well off where the market was in 2009.  Mass is seeing small increases in median sale prices and NH is slightly down.

This means it may be a great time to sell or buy.  Rates are low and inventory is low.

1.       Educated buyers need to buy now before the rates go much higher (it will be very gradual).

2.       With limited houses currently listed, houses should garner a good offer from buyers that have been watching the market.

Perhaps it’s the perfect storm.


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Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com

Bob LeRette – Div. Sales Manager/ Real Estate – Boston.com & The Boston Globe,  617-929-2104 email:  robert.lerette@boston.com   & Realtor® - Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063

It Just Snowed But I'm Thinking of a Pool

I will not hide the fact that I have always wanted an in-ground pool.  I love everything about the idea of putting one in, except, of course, the cost.  I can picture myself having coffee poolside in the morning sun, a swim after my yard work, grandchildren splashing in the water someday, sipping a cocktail on the decking as the sun goes down with the pool light reflecting off the house.  (I suddenly realize I’m Clark Griswald from the National Lampoon Christmas Vacation movie dreaming of how I’ll spend my yearend bonus.)

I know it’s a lot of work to maintain a pool.  I also know that my home insurance will go up, as will my water, electric and gas bill.  I know that in New England we only get to use a pool for three months a year, hence the gas bill for the pool heater.

So even with the negatives, I can still visualize the lifestyle changes a pool would bring to my home life – a little Palm Springs right here in New Hampshire.

I was googling (hmm, spell check doesn’t like that word) pros and cons of pool ownership.  I found an interesting thread on how a pool affects your home value.  I know appraisers often add under $10K to the value of a home for a well-maintained pool in New England.  This is far short of the $50K+ it takes to install your backyard oasis.  Obviously, it’s an investment that you don’t expect to get a lot of return from when you sell your home.  You do it strictly for the enjoyment.

I was shocked to read a comment on the thread from one RE agent adamant that a pool will negatively affect a home’s value.  The agent brought up all the negatives, including taxes, liability, expense and maintenance costs.  They went on to say that many people who buy a house with a pool incur the huge expense of filling it in.  Due to that, some homebuyers will spend more on a home without a pool.  Huh?  Is this agent selling homes in Alaska?  I bet this agent saw one poorly maintained home with a pool and it has stuck with them.  What a buzz kill.

I know a pool isn’t for everyone but I don’t think anyone will ask for a price reduction due to a pool – unless it’s in horrible condition.  If a pool doesn’t appeal to a homebuyer, I would expect that they would skip over your listing at best.  So maybe it could reduce the pool (pun intended) of potential homebuyers but overall I can’t see listing a home for less with a pool than the same house without a pool.

I’m with you Clark!  Don’t give up on the dream.  

Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com

Bob LeRette – Div. Sales Manager/ Real Estate – Boston.com & The Boston Globe,  617-929-2104 email:  robert.lerette@boston.com   & Realtor® - Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063

Growth Continues in Winter Real Estate

We don’t ski much anymore, our kids are too old for sledding and no one wants to build a snow fort with us.  Since December, I had been hoping for an early spring.  It seemed like it would be a mild and uneventful winter.  Wow, was I wrong! 

At least the Real Estate market held strong.  The nice thing is, in spite of all the snow and a depleted inventory, we’ve continued to enjoy early year closings.  According to the Massachusetts Association of Realtors, January showed a 13.7% increase over last year for detached single-family homes.  New Hampshire had an increase of 21.2. 

Putting your home on the market now has many advantages.

·         Low inventory mean less competition

·         Less competition means more buyers looking at you property, possibly leading to a higher offer

·         Buyers are in the market now and are not willing to wait for Spring, where many buyers feel home prices will increase

Our biggest challenge in wintertime is not getting enough buyers;  it continues to be digging out in a timely manner for showings and open houses.  After a snowstorm, the things I look at are:

·         Where is someone going to slip and fall down? 

·         Any roof leaks from ice dams?  Are there any dangerous icicles forming over entryways?

·         With all the snow, is there enough parking for showings or an open house?  If there isn’t, a potential homebuyer may just keep on driving to the next property.

·         Is the driveway and walkway clear enough so that snow is not going to be tracked through the home?

·         Will a scheduled Open House be postponed due to weather?

As a rule, Sandy tries to turn the heat up and turn on the lights for all of her showings.  It’s amazing how many showing we bring a buyer to where it’s cold, damp and dark.  You need to make it as inviting as your own home.

I've shoveled my share of walkways and driveways.  I have bought and spread salt on driveways.  I have left early for showings and froze my toes while waiting for the heat to kick in in a vacant house.  I have slid to a stop at an intersection while on my way to show property.  So, even though winter has been good for business, I’m still ready for Spring.

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Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com

Bob LeRette – Div. Sales Manager/ Real Estate – Boston.com & The Boston Globe,  617-929-2104 email:  robert.lerette@boston.com   & Realtor® - Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063