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Two of those residents attended Monday night's Board of Selectmen's meeting, where they were told their cases would not be reviewed in time for the Sept. 1 deadline to file an appeal with the New Hampshire Board of Tax and Law Appeals (BTLA). Although the town has not finished reviewing their cases, Town Administrator Paul Deschaine advised the disgruntled residents to pay the $65 fee to file with the BTLA to avoid waiving their right to do so after the appeal deadline passes. "I think it's ludicrous that I should have to pay $65 about a claim that I don't even know if I have to make," said Ron Deane of 3 Chase Lane, who attended Monday's meeting and is disputing a $97,000 increase in his property assessment. Bart Rzepa, who owns Rzepa Family Chiropractic on Portsmouth Avenue, also came to the meeting because he was told that the assessor might be present to answer questions. Town assessor and full-time town employee Andrea Lewy has been out on sick leave since the beginning of August; she normally comes before the board to approve abatements on the last Monday of the month. Deschaine said the town's responses have been delayed due to her unexpected absence, combined with a "major computer crash" and an increased number of abatements. Last year marked the first time the town has done property revaluations since 2003. Deschaine said Lewy and her assistant have been sorting through between 120 and 150 abatements since December. He noted that a non-revaluation year normally yields 30 to 50 abatements; in 2003, the number of abatements was about twice this year's load. "It can be a demanding process, especially during a revaluation year," Deschaine said. "The town truly does want to get it done with so we can move on to the next tax year." Rzepa and Deane said they are both unhappy with the town's lack of communication regarding their abatements. "I think the very least they could have done is sent out a notification. If I'm one of 20 that would have cost them less than $10 to mail out a letter," Deane said after the meeting. Rzepa already filed with the BTLA in August, before the Sept. 1 deadline. He plans to dispute the town's system for valuating commercial properties because he believes it's unfair that the first acre of a commercial property is valued at $700,000 while each subsequent acre is valued at less. "Each usable acre should be worth the same amount of money," he said, noting that his business is a little more than one acre and is valued at $1 million. Rzepa also believes the town should hire a consultant to administer revaluations because a full-time employee may have a bias towards the town. "I feel there is a conflict of interest here," he said. According to Deschaine, the town does not hire outside sources in an effort to keep costs low. Rzepa and Deane also claim the town is one year behind the state's five-year revaluation requirement. Deschaine said there was confusion about whether the town was required to do a revaluation during or after the fifth year. "It seems like they forgot to do the revaluation last year and they're late this year. It's a shame," Rzepa said. At Monday night's meeting, Chairman David Canada told Rzepa and Deane, "Our only goal is to get your adjustment correct. It doesn't matter if it's up or down. We haven't denied you."I know quite a few people affected by this. The assessor decided to dramatically increase the valuation of land in the "town center" district, in some cases more than doubling the tax liability for homeowners........
article from Seacoastonline.com
Property owners disgruntled
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Stratham NH Real Estate Market Activity Report August 2010
We are looking at homes sold data for the last four years verses the last twelve months to determine where the market is headed. In 2006, 144 homes were sold with an average days on market of 127. Upon news of the recession , 2007 saw 7% less homes sold and they took 20% longer to sell at 153 days. With the recession firmly entrenched, 2008 saw the number of homes sold plunge 32% to 91 units with days on the market falling slightly 5% to 145 days. Wtih the Federal Home Buyer Tax Credit established to help prop a sagging market, 2009's home sales were even at 91 and sold a little quicker at 122 days.


Stratham NH Real Estate Average Sales Price
Average sales price for 2006 was $395,541 and fell 4.4% to $378,165 in 2007. Continuing the expected, 2008's average sales price dipped 4.4% again to $361,569. Considering the Tax Credit was in place, one would not expect the average sales price to drop again in 2009 but it did so by an even larger margin of 7.6% to $333,972.

Stratham NH Real Estate Market Trend
In the last twelve months, we have seen an increase of almost 32% for the number of homes sold at 120 units and days on market nudged up almost 10% to 134. The average sales price played coy and gave up 1.4% of its value again to $329,334. There is no doubt the now expired Tax Credit had an effect on the market. Unfortunately, the Tax Credit was an artificial component of the market and had its un-natural results. With the market approaching normalcy, we see more homes are selling although it is taking a little longer in average for those to sell and the plunge in values seems to be leveling off. These factors are an indication that demand is strong although buyers are being careful. There is tremendous upside potential for today's buyers to build equity when compared to average prices from 2006.
Buyers understand "Investment Strategy 101: buy low, sell high" and realize that the lowest interest rates in decades, reasonable home prices, and lots of inventory pushes their purchase power to its peak.
Is now a good time to buy Stratham NH Real Estate? You bet! That's good news for sellers, too.
For more insight and real estate resources, Click Here => visit my website.
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