Campton, NH

A few days ago I went out with a customer that I have worked with for several years. In fact this person has been looking through the last two downturns and regrets it . He said to me something that was quite profound . He regreted not buying right at the bottom of the last down . He thought that if he waited it would hit bottom but when it hit bottom it took off so fast that he never realized it hit and before he knew it he never got the chance . By the time he noticed that values were not still declining , they had gone above what he could afford as a second home. He had waited too long . He wished that he had his money in real estate instead of the stocks. While the market for both are down and subprime has made a mess of the housing market , real estate is the best place to invest for the long run , He said what he noticed from the past , he is not going to let happen to him again. While we were looking at what the houses have done for values in the short run right now but we are not looking historically. When the market was bad the last few times the bottom never got to the same bottom as it hit the last time. No the bottom was not lower it was always higher . The plateau had always risen. He said with stocks, yes most of it will eventually come back , some of it simply will not as the company is no longer in business . What you have is a piece of paper that is only as good as the company that you have stock in. If you buy a home or land, you have something you can feel. When the market is down you can always use it . It is real , it is tangible , you can feel it , you can touch it and you know it is there . And if you wait it will come back unlike a company that could go under , your home (or your land) will still be there. This is why Real estate is the best choice

P.O. Box 1208 , Route 49 Campton NH -The gateway to NH 's White Mountains

phone 603-726-8642 website www.kingrealtynh.com

P.O. Box 1208 , 250 Route 49 in Campton , NH 03223

phone 603-726-8642 or 603-726-8941

Up until only a few months ago most people walking through the doors looking for the foreclosure list in our community were given a blank sheet of paper. Just Joking!! but not entirely. Where other areas of the country were hard hit with every other home being sold by the bank , it was more of a an exception to and not the rule here in central NH and in much of the New England states . The real estate market was soft but not down right in a hole . Over the last few months there have been some not a lot but some foreclosures . The problem is that those few have raised havoc to the values of homes here . The few homes that were foreclosed got snapped up quickly and have all but dried up for the most part . BUT the affect on the market in general was not so short lived. Since that period the only sales were foreclosures or SHORT SALES, they became the market. And while most sellers are still not willing to take a bath those that really need to sell have been hit much much harder. How do you sell in a market when because of a few brief foreclosure sales, your house is no longer worth what you owe? And the banks lending practices make it harder for a buyer to find funding even when you can find one? Well if you are lucky you don't need to sell and if you get your number and the buyer can get their financing , you sell and if you don't , you don't , oh well- waiting for better time so big deal. But if you really need to sell, and you have a hardship that leaves you with no choices but to sell, what do you do? . One of your choices are that you can ask your bank to allow you to sell it through a short sale- meaning for less then you owe on it Or if you would like to remain in your home and you have not already put youself in a negative light with your bank , you could if your position is going to get better in the future ask your bank to renegotaite your loan .

What is a SHORT SALE : A short sale is short and simply that you ask your bank to allow you to sell your home for less then you owe . In most circumstances they will allow this but you don't get off the hook for the difference. In some instances, they will allow to do this and they will forgive you of any money that is lost to them, the difference between what you owe and what you get from the sale . The criterior is most often (1) that you asking to sell for less as your property is not worth what is financed on the property- simply you can not sell and get all that you owe the bank and (2) that you have a hardship - circumstances that make selling a necessity as foreclosure is on its way if no other options can be secured. And finally they will not do this for you unless (3) You take the time to contact your bank and let them know what your circumstances are instead of not answering the phone for the bill collectors . In other words do not stick your head in the sand -face it head on. When you are in the position that you have to sell and you can't sell for what you owe , a Shortsale might be the right choice for you .

It is always good to not only explore this option with your real estate agent but enlist the help of credit counselours , trusted advisors that know finance such as a family lawyer or organizations like Ahead that are nonprofit and established to help you through the pitfalls, to know your rights and to make sure that if you choose this path, you come out in a better place than foreclosure would have left you . A shortsale does not always mean that the lender forgives your debt - it has to be asked for and agreed to.

Examples of situations you might be in that a shortsale might be a good option for you :you are facing foreclosure or you have some other hardship that requires you get out immediately such as an illness in the family , an accident, loss of a job(s), serious cut in pay anything that put you in a financial position that you can not pay your mortgage and you are at risk of losing your home and you owe more than you can get for your house is worth in the current market and if you move out you might find less expensive and more affordable options for your housing . If shortsales did not exist this would mean inevitable foreclosure and likely bankruptcy would have to follow.

How do you go about asking for a shortsale? Contact a credit counselor , Ahead is always a good option as they are paid for by grants, nonprofit and free to you . These people will work with your real estate agent and you to fill out paperwork with your bank that is required to detremine if you are eligible by the banks standards for a short sale . This paperwork has to clearly show that you really do have a hardship. Once the bank receives this they will order an appraisal of your home to detrmine that it is worth less then is owed. If you truey have a hardship and your home is worth less then what you can sell it for within the time you have , you will probably fall into their approved list. This does not mean that they forgive the difference, just that they allow you to sell it and work with you regarding the difference . You must ask them to also forgive the balance. Depending on your long term circumstances they will agree or not . If they do not agree they may offer you a payment plan for the residual.

What does that mean if you are a BUYER looking for a great deal. Well it means that you can get a great buy on a home . A lot more house then you can get from a seller whose back is not against the wall and yet unlike a foreclosure you have a seller to give you information on the home you are buying , a history . When buying a home that is already foreclosed the bank will tell you nothing about your home's history even if they know . This would create liability for them and therefore you will get the standard as is where is , we know nothing , say nothing type seller disclosure if you get one at all . This presents many major risks for the buyer that they will not likely have with a shortsale . Was the property a meth lab? The bank can not tell you yes or no. Has the house ever had a flood in the basement - the bank can not tell you yes or no. Is there heath risks in the house , the bank can not tell you yes or no but if you are buying a shortsale you have a seller that will and in fact is obligated to . Unlike a foreclosure the huge unknowns are for the most part not there .

It is a win win for both you and for the seller. They get out from under a very stressful situation and you get a bargain without as many of the risks of foreclosure . There is a downside. You have to be patient and the bank could always say no to your offer. Shortsales do not happen quickly . And an approval of an offer does not just mean a seller accepts your price. It means that after they accept it has to go to the bank for acceptance too. And if there is a second mortgage , a va, fha or other subsidising affiliate they have to approve it too. It takes a while . In fact it can take a month or two and often does. but if your offer is REASONABLE , and I am being clear , if the bank is to accept it too , it most likely will have to be reasonable and the sellers circumstances are in fact a hardship , what a deal you could get. You see, when the bank looks what they will lose if the property is to go into foreclosure -in legal fees, in real estate commissions, in property maintenance ..... and looking at what the property is worth, is the offer reasonable taking both into account. You might just have equity that you did not pay for, at the moment that you took ownership and/or sweatequity that you can achieve quickly that given the sellers circumstances they could not . Their loss could be your gain.

Everyone BUYER OR SELLER should unless personally experienced, get the help of an experienced professional when buying foreclosed or shortsale properties . This really is not something you should do on your own if you want to avoid serious mistake . AHEAD is a really good resource in helping you through the pitfalls of selling through this method. Ahead's phone is 1-800-974-1377 or visit them online at www.homesahead.com . And if you are a first time home buyer or you have some credit issues they have great counseling for you too .

P.O. Box 1208 , 250 Route 49 in Campton , NH 03223

phone 603-726-8642 or 603-726-8941

In a market where financing is not always available even when buyers are. An example of this would be: investment property , land and commercial . Banks have gone back to being conservative. Even long time customers might find that buying commercial property, land or property for investments are hard to finance through traditional lenders . In this kind of market , Sellers and Buyers need to think outside the box. This is where owner financing options make property more desireable to both the seller and to the buyer. For Sellers if they do not necessarily need their money out immediately and either through the downpayment being enough to pay off the mortgage or they have no mortgage at all this can be an option. It is also an option to allow them to get the highest and best price for their property and make a bit more interest on their money than in a bank. It gives their property a little bit more desireability and saleability because it is more obtainable possibly then other like properties. Right now, it is a great time for buyers to buy . To buy for their own use or as investments. Prices are down for many reasons and getting financing is a large part of that . Many are thinking of investing to prepare for when the market turns are hit by a brick wall because lenders don't want to lend. Sellers offering a short term or long term solution to this add value to their real estate . Buyers are able to reap more from that as well :often downpayment for seller financed properties are lower then the bank will require, interest rates are also more likely to be lower , unlike banks you will not likely have to pay points, if you are confident about what you are paying there will be no requirement to get an appraisal , many other closing costs could be optional as well.

In the end where sellers offer financing it is a win win for both the seller and the buyer . Sellers make their property more likely to sell then their competition and Buyers save money: in the purchase price because they are buying when values are lower(verses waiting), in what they have to pay down and over conventional financing . When is this type of financing especially productive to a buyer? One possibility :When the prices are low and traditional bank financing is not available or much more expensive -it allows for the buyer to purchase while the getting is good. (2) When you are looking to get all of your stuff put together to build a new home and you want to lump the whole purchase together in one loan so you do not have to pay the bank twice for the same goal but you are not yet ready for the whole thing - this would allow you to purchase the land without the high bank fees that are not transferable get the price of land at current rates and not have to put so much down right up front. (3) When you are looking to buy while the prices are low and sell again when the market turns around for investment . and there are so many other reasons this is worth a second look .

P.O. Box 1208 , 250 Route 49 in Campton , NH 03223

phone 603-726-8642 or 603-726-8941

When I was just a little girl Waterville Estates was the acres of woods that Linda, Terri , Nancy, Pam, Tina and I and anyone that wanted to ride with us on any given day after school got out, riding our horses except during hunting season. Campton was a small mill town that numbered in the low hundreds sustained by Beebe River Lumber company income . Waterville Valley was just a rope tow at what is now Snows mountains just beyond villlage square .Do you remember rope tows? Making your friends fall off the rope behind you by swinging the rope(no I did not do that to strangers!). When we were not riding we were playing fort or ball down by the river in the Blake's back yard . Not much a happening here in this small town who was to know . Campton is now in the low 2,000 and Waterville Valley has high speed multi person chairlifts that get you from the bottom to the top of Tecumseh mountains in just a couple of minutes. Campton is the Gateway to NH's White Mountains and now a vacation meca for all of those wanting a quieter place that one can play in the NH wilds- Ski, snowmobile, fish, canoe, kayak, tube, hike, camp, golf and so much more . Waterville Estates is now a community of some 450+ homes and condominium complexes with its own small ski area, outside ponds (for skating and swimming), inside community center with 2 indoor pools and one outside, hot tubs in both inside and out, full weight room, saunas, tanning, lockers, lounge, outside tennis, basketball, soccer, boating and play area .

Waterville Estates was developed in the late 60 but it is still today being developed with new homes among the older ones , condominiums and there are stil lots for sale Lots run from cluster lots to one acre and sometimes a bit more . Purchasing in Waterville Estates require an initiation fee called a capital improvement fund which is 1,000 if you are buying land at closing and 1,000 more when you hook up to the community water system or 2,000 if you are puchasing a house or condo. There is an annual fee of $450.00 per property(which is in the process of a potential increase of $25-50.00 a year). This fee is an association fee that helps administration costs to run the community center. There is also a minimal fee for taking your picture for the passes . more information about restrictive covenants , community center, community sponsored activities and fees can be found at http://www.watervilleestates.com/ and King Realty has created a mini virtual tour of what the community has to offer you . To view this go to http://www.realestateshows.com/show.php?id=189299&traffic=0. Visit our website for more information: www.kingrealtynh.com