Joan Mirantz- Concord New Hampshire Realtor

"All that glitters is not gold,
Often have you heard that told:
Many a man his life hath sold,
But my outside to behold:Gilded
tombs do worms enfold. (II.7)" Shakespeare-Merchant of Venice

Well...we've gone and done it! We've created the monster.....we've succeeded in convincing the First Time Home Buyer that it is a Buyers' Market......HA!!

Seduced by the prices and the promise of a bargain they are seeking out "the pie in the sky"

They eagerly go on line,every day, pulling up picture after picture of the "perfect house"....It has granite counter-tops, walk-in closets, hardwood floors and on and on. But somehow they miss the phrase "Subject to Third Party Approval". Or worse yet..... the word Foreclosure.

OK...you say...so we give them "the talk" We explain about endless waiting that doesn't always end positively, neglected systems that will add $$ to the cost, one sided terms that put them at risk (not to mention little recourse.)

So armed with info off they go ...brave settlers like the Homesteaders of old...off to settle new uncharted territory.

Ahh....but wait! Now there is more! New obstacles are blocking the way...

• Lenders terms
• Mortgage Insurance Companys with hands outstreached
• Clue Reports
• Declining Markets
• Appraisal,appraisals,appraisals

Yup....it's a Buyers' Market....HA!!

~~~~~~~~~

Concord NH Area Realtor

It seems not all that long ago that many of us were stressing about the increase in Foreclosures and Short Sales. The accepted strategy at the time....avoid them!

Fast forward a year and Foreclosures and Short Sales have become the norm. Transactions sit in limbo and negotiated rather than dictated terms...are a pleasant diversion.

There are days I worry that I may become hardened to the reality of life and accept business as we now know it. But then as I walk through a house strewn with clothes and toys and children's homework....I recognize how important it is for me, for all of us, to keep foremost in our minds the stories behind the foreclosures. We should grasp tightly to the human side of what we do so that we can help our clients through it with not just knowledge but with compassion!

Not too long ago my friend and fellow AR Blogger William Johnson wrote a thoughtful post about the stories behind the Foreclosures. I thought his idea of putting together a resource list for people in our local area was a wonderful one and have put together one for mine.

Pay It Forward!!

Helpful Sources

* Shelters (by State)

* Foreclosure Information

* Job Search

* Government Jobs

Local Sources in New Hampshire

* Community Resources

* NH Food Banks

* NH Jobs

* NH Shelters

* Help For Pets

Concord NH Realtor

Our first Membership Meeting for the Riverside Meadows Co-Operative was mainly an informational one!

We accepted the voted on the name (Riverside Meadows).

Following brief discussion, Membership Applications were passed out. Each family is entitled to one Membership and that Membership entitles them to one vote on Co-Operative matters. The Membership fee is $25/household. This becomes the "working capital" for the Board of Directors for initial expenses (postage, fees,filing charges etc.)

Out of a potential 70 households....we have an initial signing of 48..... Off to a great start!

We were charged with the task (for that evening) of discussing, adjusting to our needs and adopting a set of by-laws. We will eventually be writing our own but for now just adjusted the existing ones provided. We were then charged with electing a Board of Directors. Nominations were made by various members. The nominees gave their brief biographies and experience. A ballot vote was taken and officers were elected.

It was made clear that this Board would have the power of negotiating on our behalf, the power to borrow money and would be researching information to present to the Membership regarding our potential purchase.

An empowerment resolution was passed.

Everyone present seemed to completely engaged in the process and eager to see this happen!

The next matter of business will be an open Board of Directors meeting!

(This is what we really look like)

Concord New Hampshire Realtor

In 1983 a non-profit organization known as The New Hampshire Community Loan Fund was founded. Their goal was affordable loans and housing for low to moderate income citizens of NH.

Their financing model was established in 1984 when the Sisters of Mercy loaned them $43,000 (at low interest). That money was loaned to 13 families in Meredith who lived in a manufactured housing park and wanted to purchase the park from its aging owners.

This was the first NH Co-Op....one of many to come. They are now known as the Meredith Center Cooperative listen to their story! This milestone meant that the residents now owned the land beneath their homes, they controlled when and if they would move,their rates were stabilized and any sub-structure improvements built more equity in their homes.

To date the Loan Fund has helped fund more than 90 Co-Ops throughout the State and even in this economy.... they are still lending. In February of this year the NHCLF is investing, in the State of NH, 1.5 million dollars where it will be lent to small businesses and non-profits, people re-financing manufactured homes and co-ops buying manufactured home parks.

In the state of New Hampshire one of the most difficult properties to finance is manufactured housing. If the home is on its own land....there is hope. But if it is in a park and older than 1973....cash is the best option. Even if you can manage to obtain financing....it usually means a larger down payment and higher interest rate. However,if your property is in a co-op....not only may your values be higher....there are also more lending sources available for potential Buyers.

My husband and I have reached retirement age. And like so many others, circumstances have dictated that we keep working.

We sold our home of 25 years to not only downsize but to reduce monthly payments. Our goal was to buy a place we could still afford to live in when working may no longer be an option. Fortunately we have found a lovely manufactured home in "The Meadows" in Hopkinton NH. It has a 3 bedrooms, 2 baths and a sunroom on 1/4 acre lot with a peaceful river in he back. Best of all they are taking steps to go Co-op! And will be working with the NH Community Loan Fund.

Not only is this an improvement financially but as a Realtor I will now have first hand information on the benefits and "inner workings" of the process. This can only help to benefit future clients!

I will be posting Blogs about the proceedures and our progress.....

Talk about good timing!!

Concord NH Realtor

I just read a somewhat humerous but sobering article in my local paper.

New environmental rules seem to have spurred a flurry of inter-state smuggling.

Last July, Spokane County Washington became the launch pad for our nation's strictest ban on dishwasher detergents made with phosphates. It is well known that phosphates are a heavy water polluter and this is an attempt to reduce water pollution! The ban will become statewide come July 2010 and several other states are expected to follow suit!

Now for the smuggling part: It would appear that "green" detergents do (1) Not cut grease and (2) Don't get dishes clean. Those folks in Spokane County were forced to either wash their dishes by hand, put them through a pot & pan cycle (more water) or head East on Interstate 90 into Idaho....for the real deal! One, unnamed, Consumer says"everyone she knows buys their soap in Idaho". The manager of the Costco in Coeur d'Alene Idaho estimates his detergent sales have increased 10%.

Among the other States considering a like ban are our sister states of Vermont and Massachusetts.

For years our border businesses in NH have benefited from tobacco and liquor pricing and our lack of sales tax......do we have another potential source of revenue? On which side will the Legislative debate land? Will we too go green or encourage non-green sales benefits?

Boy....Kermie was right! It's not easy being green!

Concord NH Realtor Area Information