Bartlett, NH

Bartlett versus Ossipee Soccer 1-2

It was a great day for a soccer game. Two great teams. But sadly only one team can win.

Jim Miller did a great job as the referee. Both teams played hard.

Ossipee made the first goal in the first half. Bartlett came back in the second half and scored!

But as dusk fell, Ossipee scored a tie breaking score and Carter, Peter, Ian & Jon headed down field to congratulate the other team.

"We'll get you next time!"

"BUY LOW, SELL HIGH!"

My father and I always joke about how easy investing is, just buy low and sell high.

Well the recent market crash and upheaval in the financial industry have left everyone unsure of what to do next. Do we bail out the Wall Street elite who made tens of millions of dollars a year selling fraudulent derivatives, and in turn send the US economy into recession for the next 5 years? Do we buy up risky mortages and put a freeze on foreclosures, allowing the average American to catch his or her breath and keep their primary homes?

What should you do next, if you are planning to buy?

1. Contact a local Mortgage Broker who lives and works in the community you are looking to buy in. Choose an agent based on referrals from trusted, experienced Real Estate agents. Ask them who they would use for their next purchase. If your agent directs you to a basket of brokers cards by the front door or hands you three cards with no explanation of what makes one better or worse than another, get another agent.
2. Plan on putting together 20% of the purchase price in cash. If you can pull it from saving great, or consider gifts from relatives, or even asking the Seller to kick some money back to you for closing costs. The new threshold of 20% will be around for some time to come and although you are still seeing offers to finance at less, the terms and interest charges will be much less attractive.
3. Work with a Buyers Agent that specializes in the specific market you are interested in. Do not be shy about asking for references of your Realtor. They will make between $4,000 and $6,000 handling the average transaction in NH. For that much money they should bring some strong experience and negotiating skills to the table for you.

• Ask how many properties like the ones you are looking at did they list or sell last year.
• What type of research and analysis do they do before making an offer. Expect at a minimum, a CMA, review of the deed and convenience, and a review of the property file at town hall within 48 hours of the offer being made.
• Finally, they should require you to sign a Buyer's Agency agreement prior to looking at any property. If they don't they are not looking out for your best interests and are working solely for the benefit of the Seller!

There are some great properties for sale out there at some great prices. But while some of the rules have changed, the basics never will... Buy Low, Sell High

Blogging is an opportunity for you to express yourself. But what is it saying about you? There is a website that showcases "snapshots" of our world. Hourly, computers monitor world news and portray in pictures and words what is happening in world events. If this computer were to track you what would it reveal about you? What theme would dominate your life? Blogging is a powerful medium; it is also a significant and insightful window into who you are!

What story will your blogging tell?

Are you a "joyful" blogger? If so, you are a gift beyond comparison. Joyful bloggers look at life through joy-filtered glasses. Experiences that would stymie most people, doesn't faze these folks! Often they use bad circumstances to look at their own lives and learn. They live by this credo: "The faults I see in others lives are often true of me; So help me, Lord, to recognize my own hyprocisy!"-Sper

"Joyful" bloggers are also love mongers. They love people! They appreciate their family and friends. They create happiness when there is NO evidence in their circumstances to dictate they do so. Their exhuberance is infectious! Their multi-colors shine with joy...They love life!

Is humor your strength? Then use that to express your ideas, your special flair for telling a story! Laughter heals a thousand wounds. I had the pleasure recently of hosting a realtor meeting. One of the committee chairs was scheduled to speak on a very dry subject. He peppered his talk with jokes!!!! It was hilarious! It turned into one of the most successful and fun meetings of the year!

Are you aMOOSING? Hee-hee!

I came into my office this week to find a sign on the front door, "No Whining". How great is that? It reminded me that whining is so pervasive in our culture. It invades our conversations, our relationships, and yes---our blogging! If you find yourself "whining" in your blogging---stop it! Whining has no redeeming features. It undermines your spiritual and emotional health. It is corrosive. It is toxic. It can infect an entire group! We have a rule in my household. If you have to whine, you get 2-minutes of "free whining"- that's all! In Philipians 2:14 it says: "Do all things without complaining..."

Do your blogs flex a service muscle? Are they instructive? Do they support your fellow bloggers? When all the pictures of your life are laid out for others to see, what will they see, what story will they tell?

HAPPY DAY AND HAPPY BLOGGING!

On Sunday the Federal Government took over Fannie Mae and Freddie Mac mortgage companies, quasi-government entities that purchase or guarantee most of the home mortgages in the U.S. & got into trouble with subprime lending. This basically, is similar to Chapter 11 bankruptcy reorganization.

Some people are saying this is a good thing. A good thing for the Stock Market, The Banking Industry, and the overall U.S. Economy, maybe. Not such a good thing for the Buyers and Sellers in the real estate market. Don't expect any positive news from this move for at least a year.

The first impact of the take over will likely be a short term drop in interest rates on new mortgages of about a quarter percentage. Not enough to change the current market conditions. Any drop in Federally funded mortgages rates with further weaken competitive mortgages from the private banking sector. Can a strong independent banking industry compete with a government able to borrow at 2.5% interest?

Second and most important to watch is the rules the new government agency will set for accepting new loans. Expect them to be stricter and limit the number of marginal buyers hoping to buy into the cheaper market. These marginal buyers were the ones we needed to reduce record high inventories and stabilize the markets. If qualifying is tightened then a hundred potential buyers for a home will be reduced to fifty.

Third, foreclosures might slow down as the Federal Government will be more willing than the Private for-profit businesses were to write down higher loans to more manageable payments plans. But Warren Buffet, warns that bailing out Fannie & Freddie and the associated bad loans sends a dangerous signal that the Federal Government intends to insure bad business practices instead of prosecuting fraudulent practices.

Fourth the National Economy will take another hit with the addition of over $200 Billion in deficit spending to operate these two companies in the short term.

Finally, the three factors that effect real estate the most are 1. the ability to finance 2. The inventory of homes and 3. the positive or negative stance of the economy. I am afraid this week-ends news will result in it being harder for Buyers to finance deals because of tougher credit score requirements, loan-size-to-home-value ratios and down payment requirements. Which will not reduce inventory or improve the overall economic forecast.

Your Dream Property!

After running and owning Hotels and Inns for over 20 years prior to opening Black Bear Realty, there is nothing I enjoy more than the process of matching a hopeful innkeeper with the perfect property.

I am lucky to be working with two such buyers these days. Unlike most Buyer Agents in the lodging industry I approach the search a little different. Most Inn Brokers keep lists of Inns & B&B's that are ready to sell and try and shoe-horn the Buyers into an quick and easy fit to earn a quick and easy commission. We do, of course, still market Inns in the White Mountains for sale such as this beautifully renovated property, The Inn At Jackson. But, by focusing on the buyer's needs not our seasonal inventory, we have access to hundreds of properties.

But, I work backwards with my clients, finding out what type of lifestyle my Buyers aspire to, what type of community they enjoy living in and what size and type of property fits their personality and skills. Then I start the long and slow process of searching out properties that match those goals and interviewing the current Innkeepers to see if they or their peers are close to moving on.

"All Inns and B&B's are for sale it is just a matter of when." It is better to work as a matchmaker and create a Win-Win for both the Seller and Buyer in these type transactions than any other, because it is very likely that the two parties are going to stay involved with each other socially, professionally and sometimes financially for at less the short term. This slower approach to buying gives both sides the opportunity to confront and accept this major purchase calmly and with less stress. But most important it is the best way to find, purchase and enjoy YOUR DREAM PROPERTY!

www.Black-Bear-Realty.com

"Charming Homes & Country Inns!"