Two homes sold this week ending 3/10/2012.
Sold $399,900 One Day on Market
Sold $399,900 21 Days On Market
The rest of the market looks a little like this: Eight listings are pending closing, four listings were pulled from the market, four expired, two came back to the market and 47 have accepted offers and are listed as contintgent.
These homes sold this week in Dover NH are new construction homes. New construction homes are the fastest selling in 2011 in Dover and this week it's true to an earlier post I wrote => Fastest Selling Homes In Dover
Are you in the market or want to be? You need to know your => Finance Options
Marty Patrizi is a full time full service Realtor with Virtual Homes, Inc. Marty has been a self employed building and remodeling contractor since 1988 and enhanced his services becoming a licensed Realtor in 2007. Marty's clients have saved thousands of dollars on their transactions due to Marty's extensive experience in the real estate industry. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com. Click here to see => Marty's Profile
96 Dudley Rd Brentwood NHHUD homes are owned by the government and the sale of HUD homes is managed by the US Dept. of Housing and Urban Development. HUD homes are offered with a 3% rebate buyers can use towards their closing costs.
STEP 1 Buyer must be pre-approved for a mortgage. If a buyer were to pay cash, the buyer would need a letter from the manager of the institution where their liquid assets are held stating that the funds are ready and available for closing on the property (proof of funds).
STEP 2 When you find the HUD home you want to buy, make sure the Realtor you choose to work with is a HUD registered agent. Only HUD registered agents are able to make offers.
STEP 3 Bid periods end daily at midnight. Bids are submitted on line by HUD registered agents. The bids are opened the next day and an answer to the bid is posted by 9:30 the next day.
STEP 4 If the bid is accepted, the buyer must complete all necessary paperwork and submit a cashier's check made out to HUD for $1,000. These items must be in the local HUD office within 48 hours.
STEP 5 Buyer has 15 days from the date the contract was signed by HUD's representative to have a home inspection performed by a licensed home inspection company and exercise all due diligence.
STEP 6 Buyer must close within 45 days of the effective date or if using an FHA 203K Rehab loan, buyer must close within 60 days. There are exceptions to the rule of closing date but for every 15 day extension granted by HUD, there are associated fees.
STEP 7 Move in and start enjoying the benefits of home ownership.
This grand colonial with hardwood floors, lots of windows, open concept, granite counters, double garage, three season porch, forced hot air heat, and central air conditioning sits on 5.4 private acres in one of Brentwood's best planned subdivisions. For more information on this home and HUD homes in general, call Marty direct at 603-781-4099 or leave a message at the office of Virtual Homes, Inc. 603-732-1800.
View a short video tour => 96 Dudley
Marty Patrizi is a full time full service Realtor with Virtual Homes, Inc. Marty has been a building and remodeling contractor since 1988 and became a Realtor in 2007. Marty works as a buyer's agent and a listing agent giving his clients the benefits of his extensive experience in the industry. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com. Click here to see => Marty's Profile
Reverse Mortgage Imagine, a senior living in a new home with no monthly payments. If you are 62 years young or more, you may be eligible for a reverse mortgage.
Seniors can purchase a first home, a new home, or a second home with a reverse mortgage. Seniors can get into a new home without ever making a monthly payment.
Seniors Homes Can Provide SecuritySeniors primary care giver is the equity in the home they own or the one they will own. Seniors can get money for living expenses or down payments on new homes with the equity in their current home. If they have a sizable down payment, they can get into a new home and have no monthly payments.
For more information, visit FHA Reverse Mortgages
Marty Patrizi is a full service New Hampshire Realtor at Virtual Homes, Inc. and his emphasis is on "service". Marty works as a Buyer's Agent and a Listing Agent. Marty is also a building and renovation Contractor since 1988. As a buyer's agent, Marty's extensive construction experience puts him ahead of other buyer agents because he has the ability to determine value and costs related to repairs and updates needed. As a seller's agent, he knows that buyers come from searching on line and how to generate more qualified buyers through maximum exposure of his client's properties on the internet. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com.
This Weeks Sales In Dover NH Homes1/21/2012 Dover NH Homes: 10 homes sold this week for a total volume of $2,242,074 of inventory sold. 23 homes have successful offers and 2 sales are pending closing. 4 homes have come back to the market and 8 new listings have been posted.
Asking $129,000 Sold Full Price
View a short video of => Dover’s Top Ten Sales 2011
Condo Asking $173,900 Sold $162,900
Asking $161,300 Sold $152,000
Click here for => Dover NH Demographics
Asking $194,900 Sold $103,000
Asking $215,000 Sold $200,000
Click here for => Dover NH Lifestyle
Asking $235,000 Sold $224,000
Asking $259,900 Sold $264,574
Asking $269,900 Sold $251,600
Asking $319,900 Sold $310,000
Asking $365,000 Sold $355,000
I have put together this study of single family home sales for the last four years to help us determine the outlook for Dover NH homes sales in 2012.
Click here to see all => Current Dover NH Homes and Condos For Sale
At the beginning of the “Great Recession” in 2008, Dover NH home sales suffered yet ever since then, the number of homes sold has increased. This is mostly due to real estate values taking a hit and we’ll see below how much of a hit it has been. The number of homes sold is up 7.5% over last year and up 18% from the depths of 2008.
Click for => VIDEO TOUR
The average time a home for sale in Dover NH spends on the market was at it’s lowest in 2010 due mostly to the now expired Federal Home Buyer Tax Credit. The Tax Credit was scheduled to expire at the end of 2009 but was extended to April 30, 2010. The procrastinators decided it was time to jump into the market and I believe this is what skewed the average days on market for 2010. At the current average of 106 days, this market has come very close to “normalizing”.
Median Sales Price is said to be a better indicator of real estate value trends than Average Sales Price. Average Sales Price can be artificially skewed by a single transaction with an extremely low or extremely high sales price. In 2011, the transaction with the lowest sale price was $38,900 and the highest was $6,900,000.
Median Sales Price was at $267,000 in 2008 with 194 sales. In 2011, Median Sales Price was $226,300 with 229 sales. Average sales price is down 11% from the high of $293,754 in 2008 to $262,033 in 2011. Median Sales Price is down 15% from 2008′s high of $267,500 to 2011′s low of $226,300.
If we look at the overall volume of single family Dover NH homes sold, we can see volume jumped up 5.3% in 2011 over 2008′s level and up 5.6% from 2010. This makes perfect sense knowing what we do about Average Sales Price and Median Sales Price over the last four years. The lower prices are the more homes will sell.
It is my belief that home sales will continue to grow. I am predicting at least 4-5% growth again for 2012 as long as these two factors occur: Interest rates stay low and move up buyers make room for first time home buyers. Existing home owners who are looking to upgrade or up-size their homes are starting to realize that even though home values have come down significantly, they will save a greater amount on their new home purchase than they may otherwise give up on the sale of their existing home.
Click here for => Dover NH Buyer Agent
Interest rates will be the “IF” factor. In a study of the effects of interest rates on purchase power, we hold a certain monthly payment steady and use a mortgage calculator to determine how much purchase power is effected by a rise in interest rates. Holding payment steady, a 1/4 of 1% rise in the interest rate can mean as much as $8,800 less purchase power.
If you would like to move up to a newer or larger home, or if you would like to own your own home, get to a lender now. Make sure you know how much you can afford for a mortgage and start looking before interest rates and prices start to go back up. We know they will. We just can’t say when so why wait? Click here for => NH Home Finance Options
Marty Patrizi is a full service New Hampshire Realtor at Virtual Homes, Inc. and his emphasis is on “service”. Marty works as a Buyer’s Agent and a Listing Agent. Marty is also a building and renovation Contractor since 1988. As a buyer’s agent, Marty’s extensive construction experience puts him ahead of other buyer agents because he has the ability to determine value and costs related to repairs and updates needed. As a seller’s agent, he knows that buyers come from searching on line and how to generate more qualified buyers through maximum exposure of his client’s properties on the internet. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com.
This Weeks Sales In Dover NH Homes1/14/2012 Dover NH Homes: A slow week for sales delivers two condos for a total of $238,000 in inventory reduction. 23 homes have successful offers and 8 sales are pending closing. View a short video of => 11 Dover NH New Listings This Week
Click here for => Dover NH Demographics
Click here for => Dover NH Lifestyle
I have put together this study of single family home sales for the last four years to help us determine the outlook for Dover NH homes sales in 2012.
Click here to see all => Current Dover NH Homes and Condos For Sale
At the beginning of the "Great Recession" in 2008, Dover NH home sales suffered yet ever since then, the number of homes sold has increased. This is mostly due to real estate values taking a hit and we'll see below how much of a hit it has been. The number of homes sold is up 7.5% over last year and up 18% from the depths of 2008.
Click for => VIDEO TOUR
The average time a home for sale in Dover NH spends on the market was at it's lowest in 2010 due mostly to the now expired Federal Home Buyer Tax Credit. The Tax Credit was scheduled to expire at the end of 2009 but was extended to April 30, 2010. The procrastinators decided it was time to jump into the market and I believe this is what skewed the average days on market for 2010. At the current average of 106 days, this market has come very close to "normalizing".
Median Sales Price is said to be a better indicator of real estate value trends than Average Sales Price. Average Sales Price can be artificially skewed by a single transaction with an extremely low or extremely high sales price. In 2011, the transaction with the lowest sale price was $38,900 and the highest was $6,900,000.
Median Sales Price was at $267,000 in 2008 with 194 sales. In 2011, Median Sales Price was $226,300 with 229 sales. Average sales price is down 11% from the high of $293,754 in 2008 to $262,033 in 2011. Median Sales Price is down 15% from 2008's high of $267,500 to 2011's low of $226,300.
If we look at the overall volume of single family Dover NH homes sold, we can see volume jumped up 5.3% in 2011 over 2008's level and up 5.6% from 2010. This makes perfect sense knowing what we do about Average Sales Price and Median Sales Price over the last four years. The lower prices are the more homes will sell.
It is my belief that home sales will continue to grow. I am predicting at least 4-5% growth again for 2012 as long as these two factors occur: Interest rates stay low and move up buyers make room for first time home buyers. Existing home owners who are looking to upgrade or up-size their homes are starting to realize that even though home values have come down significantly, they will save a greater amount on their new home purchase than they may otherwise give up on the sale of their existing home.
Click here for => Dover NH Buyer Agent
Interest rates will be the "IF" factor. In a study of the effects of interest rates on purchase power, we hold a certain monthly payment steady and use a mortgage calculator to determine how much purchase power is effected by a rise in interest rates. Holding payment steady, a 1/4 of 1% rise in the interest rate can mean as much as $8,800 less purchase power.
If you would like to move up to a newer or larger home, or if you would like to own your own home, get to a lender now. Make sure you know how much you can afford for a mortgage and start looking before interest rates and prices start to go back up. We know they will. We just can't say when so why wait? Click here for =>NH Home Finance Options
Marty Patrizi is a full service New Hampshire Realtor at Virtual Homes, Inc. and his emphasis is on “service”. Marty works as a Buyer’s Agent and a Listing Agent. Marty is also a building and renovation Contractor since 1988. As a buyer’s agent, Marty’s extensive construction experience puts him ahead of other buyer agents because he has the ability to determine value and costs related to repairs and updates needed. As a seller’s agent, he knows that buyers come from searching on line and how to generate more qualified buyers through maximum exposure of his client’s properties on the internet. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com.
Building-Renovation Contractor since 1988; Realtor since 2007. I love my work and will never "retire". My goal is to be the best resource for my client's Real Estate needs and help solve problems.
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