Mar042011

Good Schools = Good Property Values

By David Nease | March 4, 2011 | Posted in Columns | Tagged , , , , , , | Comments (8)

When I meet a new buyer for the first time I like to sit down and do a buyer consultation.  This is usually a good opportunity to see if we’re going to be a good fit to work together.  They’re looking to see how qualified I am and whether I’m going to be the agent to help find their dream home.  I’m looking to see how motivated they are and whether they can get financing.  Ultimately, the one question that comes up time and time again when trying to narrow down the towns they’re interested in is “how are the schools” and rightfully so.  Seven years ago when my wife Jodie and I decided to pack up the family and move north, the driving factor was our children’s education.  The town we lived in previously had just built 4 brand new schools and then abruptly cut all funding to those same schools.  We had state of the art classrooms and media labs, but no money to hire teachers.  The sports programs were cut and every Sunday morning I would be met by members of the Basketball and Girl’s Volleyball teams at Dunkin Donuts trying to raise money to reinstate the sports programs.  At the time  my son Jack wasn’t even 2 years old, and we saw the writing on the wall.  The main reason we moved to that town was for the school system and its demise would be the reason we left.

As a Londonderry REALTOR, I’m proud to tell people my wife and I moved here for the schools.  We did a lot of the same research other buyer’s do.  We looked at the percentage of students who graduate High School and how many go to higher education.  We looked at the funding for special education and kindergarten.  And we also looked at the extracurricular activities like sports and the marching band.  Two weeks after moving to Londonderry we took the family to the Christmas Parade in Derry.  Just the fact that it was a Christmas parade and not a Holiday parade was enough for me, but I was absolutely shocked at the sight of the Londonderry Marching Band and all of their advisors in tow.  It was at that point, we knew we had picked the right town to raise our family.

For the past few weeks there has been much debate on the school budget process.  Both sides have presented strong arguments and valid points to bolster their case.  Whether you have children in the schools or not, we all benefit from a well-established and healthy school system.  Londonderry’s desirability and therefore your property values are directly affected by the schools.  The more people who move here to educate their children, the stronger demand for housing and the more stable our property values will remain.

David Nease has always made family priority #1, both in his life as well as his business. That’s why more and more families trust his expertise as one of Londonderry’s leading real estate professionals. David lives in Londonderry with his wife Jodie and three young children. He’s a full time Realtor with Prudential Verani Realty specializing in the Londonderry market. For more information on David or his Real Estate services visit www.davidnease.com

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Feb252011

Does Home Size Really Matter?

By David Nease | February 25, 2011 | Posted in Columns | Tagged , , , , | Comments (9)

When you decide to purchase or build a home, you need to find out what the majority of people are looking for these days.  Well, as your local REALTOR, I am here to tell you that the new housing trend is “living within your means”.  When the housing market was booming, everyone wanted bigger homes.  Square footage for a home has nearly doubled in the last 2 decades, but the average family size has decreased.  Now with the housing market collapse and energy costs on the rise, people are finding that bigger is not always better.  Many people are considering downsizing.  It is not just a financial decision; it has become quite popular with our green society too.

A smaller home uses less of everything.  This is not only good for your wallet, but also for the environment.  You use less energy for heat, air conditioning and electricity.    That alone would save the average family thousands in utility costs.  The amount of money you spend on annual home maintenance would drop as well.  You would obviously need fewer materials for painting, upgrades and even furnishings.  Property taxes and home owner’s insurance would also cost you less.

Downsizing can be good for the soul as well.  It is unfortunate that in our society today most family members spend the majority of their time in separate rooms.  What happened to the days of sharing a room with your siblings or actually sitting together with your “family” in the family room?  Most people today have a “great” room for TV, a living room for video games and a separate den for parents.  Families need to engage each other more.   Maybe this trend could improve our overall relationships with our spouses and kids.  We could spend less time cleaning our homes and more time living in them.

Whatever your reason for downsizing, be it financial, environmental or retirement, it has definitely made an impact on the housing market.  For the first time in more than 20 years, home size is finally shrinking.  According to reports from the National Association of Home Builders, 90% of the homes built by its members in 2009 were smaller than those constructed in 2008.  They also reported that 59% of builders surveyed in 2009 plan to build smaller homes in 2010 and 2011.  Maybe the days of supersizing and mc mansions are behind us.   It could make a better quality of life for all of us….

David Nease has always made family priority #1, both in his life as well as his business. That’s why more and more families trust his expertise as one of Londonderry’s leading real estate professionals. David lives in Londonderry with his wife Jodie and three young children. He’s a full time Realtor with Prudential Verani Realty specializing in the Londonderry market. For more information on David or his Real Estate services visit www.davidnease.com

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Feb182011

The Secrets of a FSBO

By David Nease | February 18, 2011 | Posted in Columns | Tagged , , , , , | Comments (0)

So you want to sell your house on your own…There are plenty of people that can pull it off. But the majority of folks that succeed are from a sales background, and are up for the challenge. They know the market, they know how to sell, and they are not emotionally attached to the property. These people are usually flippers or investors. The average homeowner needs to disengage from their property. Easier said than done…

The problem with selling your own residence is that you have a personal connection to the property. Most FSBO’s are overpriced because of the owners. Your property has become more than four walls and a roof to you. It may be the place where you raised your family or your first home. Whatever the case, you need to disengage from your cherished memories, and look at it from a financial perspective. The first two weeks are the most critical for pricing your home correctly. If your price is too high, you will miss this prime opportunity to sell your home to the best and most serious buyer.

Also, with today’s busy lifestyle, most buyers have an agent working around the clock for them. REALTORS would rather go to a property listed with another agent. They know the transaction will run smoothly, and will have less mistakes in the paperwork. Most buyers would prefer to work with someone that has more experience and proper representation. This avoids major problems down the road with negotiations and home inspections.

Scheduling is huge. Most buyers want easy access to your home. Unfortunately, if you are not available to show your home at their convenience, they are more likely to visit your competition. Most buyers do not feel comfortable getting a home tour from the actual owner. They want to be able to take their time and imagine their own lifestyle and dreams, not yours. An agent is able to take some of the high emotion out of this situation.

This is the most challenging market in the last two decades. Although you may think you are saving yourself a few extra bucks, in the end, most properties are sold faster and at a higher price with a trained professional . A million different things can go wrong with the sale of your home. Having an experienced REALTOR by your side, may well be worth the price.

David Nease has always made family priority #1, both in his life as well as his business. That’s why more and more families trust his expertise as one of Londonderry’s leading real estate professionals. David lives in Londonderry with his wife Jodie and three young children. He’s a full time Realtor with Prudential Verani Realty specializing in the Londonderry market. For more information on David or his Real Estate services visit www.davidnease.com

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Feb112011

What’s a CMA?

By David Nease | February 11, 2011 | Posted in Columns | Tagged , , , , , | Comments (0)

People ask me all the time what does the abbreviation CMA stand for?? It’s short for Comparable Market Analysis; which is essentially an informal appraisal conducted by a REALTOR to give you a better idea of the value of your home in today’s market. We gather information on active and sold properties that are similar to your home along with market statistics like average days on market or how many homes have sold in your community in the past 30 days. Together, this information will help you determine what your home will sell for and approximately how long it will take to sell.

Your REALTOR will need to gather a little information on your home to get started. They might look back in MLS to see when it was last sold for and what information or pictures are available. Another source of information would be the town assessor’s website, followed by input from the home owner on recent updates and home improvements. Your REALTOR might also ask to take a brief tour of the home prior to completing their report especially if the home is unique or you’ve made custom upgrades that are hard to put a value on.

A big part of every CMA is the town statistics. How many competing listings are there and how long have they been on the market? When you take the total amount of homes on the market divided by the amount sold in the past 30 days, you get the Absorption Rate or how long will it take to sell your home . This is a good measure of the supply and demand, and will give you an idea of how aggressive you’ll need to price your home to sell in a reasonable time frame.

A Comparable Market Analysis is not an exact science. No two homes are alike and the Real Estate market is constantly changing, but a seasoned REALTOR who knows your community will be able to provide you with an approximate market value for your home. More than anything else it’s important to remember, the value of your home is determined by what someone is willing to pay for it and not what you need to sell it for.

David Nease has always made family priority #1, both in his life as well as his business. That’s why more and more families trust his expertise as one of Londonderry’s leading real estate professionals. David lives in Londonderry with his wife Jodie and three young children. He’s a full time Realtor with Prudential Verani Realty specializing in the Londonderry market. For more information on David or his Real Estate services visit www.davidnease.com

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Feb042011

Buying a Foreclosure

By David Nease | February 4, 2011 | Posted in Columns | Tagged , , , | Comments (0)

Buy low and sell high. We’ve all heard it, but how many people listen? In this current real estate market, owning a home has never been more affordable. Interest rates are hovering at historical lows, and home values are down 25-30% from the peak levels in 2005. The abundance of foreclosed properties on the market has created an amazing opportunity for the savvy investor looking to purchase a personal residence, rental or flip. Most of these homes are priced 10%-15% less than market value, and lenders will sometimes offer incentives and creative financing for qualified buyers.

Financing for a foreclosure is slightly different than other purchases. You’ll still need good credit, but if you plan on occupying the property yourself, mortgage giants Fannie Mae and Freddie Mac have recently offered incredible incentive packages. Some of these deals can include two-year home warranties, discounts on appliances, and up to $3000 in closing cost assistance. In some instances, they may offer financing with a minimum of 3.5% down.

The process of purchasing a foreclosure is not the same as working with an individual home owner. You will be working with a bank or investor that holds the note on the property. They have never occupied the residence and therefore, cannot warrant the condition. Buyers do have the opportunity to conduct a home inspection before moving forward, but it would be for informational purposes only; as most of these homes are sold “as is”. You may find that the cost of fixing up your dream home is well worth it for the bargain price you are paying.

Like any major purchase, buying a foreclosed property can be stressful. They generate a lot more paperwork, and you are taking a potential risk. However, if you are willing to do your homework and have a trained professional guide you through the process, there are plenty of great deals out there and solid investments.

David Nease has always made family priority #1, both in his life as well as his business. That’s why more and more families trust his expertise as one of Londonderry’s leading real estate professionals. David lives in Londonderry with his wife Jodie and three young children. He’s a full time Realtor with Prudential Verani Realty specializing in the Londonderry market. For more information on David or his Real Estate services visit www.davidnease.com

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Jan282011

Exit, Stage Left

By David Nease | January 28, 2011 | Posted in Columns | Tagged , , , , | Comments (0)

There are many facets to preparing your home for sale, but none more important than Staging. Choosing a home is an emotional decision for a buyer, and anticipating what the majority of buyers want is key to selling a property quicker and for a higher price. Home Staging appeals to the buyer by showcasing your home’s best features, and downplaying the less desirable aspects of the property that won’t be changing when you list your home for sale. Unfortunately, many buyers have a hard time looking past a seller’s unique taste in furniture, or their prized collection of Presidential thimbles that take up one whole wall in the Living Room. We want Buyers to see themselves living in your home, with their furniture and treasured belongings, not spending time visualizing you and your stuff.

A good Stager will work with your existing pieces of furniture and art work, and rearrange your home to maximize space and minimize any design flaws. It’s critically important that each room’s purpose is clearly defined. If your Dining Room is currently being used as an office or a 5th bedroom, you might consider setting the Dining Room table and chairs back up. The private spaces on the second floor are no exception to this rule; if you’ve converted a spare bedroom into that recording studio you’ve always wanted, then it’s time to convert it back to a bedroom. Buyers will spend less than 15 minutes, on average, viewing each home so the less confusion the better.

“Decluttering and editing are the two most critical, no cost things a seller can do to prepare their home for sale,” says Jill Hosking-Cartland of Hosking Interiors in Windham, NH. “No buyer ever paid list price or more for square footage they couldn’t see, due to too much furniture, clutter and general disorganization that we all have in our homes when we’re living in them.” Buyers need to be spoon-fed how wonderful it will be to live in a seller’s home; most people “buy up,” and into the move-in ready, “better” lifestyle they always wanted. A savvy seller will prepare their home for sale with this in mind, so their home is the one that ultimately gets the offer over the competition.

David Nease has always made family priority #1, both in his life as well as his business. That’s why more and more families trust his expertise as one of Londonderry’s leading real estate professionals. David lives in Londonderry with his wife Jodie and three young children. He’s a full time Realtor with Prudential Verani Realty specializing in the Londonderry market. For more information on David or his Real Estate services visit www.davidnease.com

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