Shannon Aldrich ~ NH & Maine Real Estate Seacoast

Here is a handy checklist to help you decide if a second/vacation home is right for you.

1. Number One - What's Your Motivation? Are you looking for a vacation home for just you and your family? Or as an investment property that you will rent out over the summer months weekly or just as a winter rental? Or is this where you see yourself retiring someday? Usually the answer is a mix of these but don't go any farther until you have sorted this one out.
2. How Far from Home Are You Willing to Travel? Fly or Drive? With the ever increasing energy costs this is more important than ever. But it has always been right up there in considerations for a second home. Too far away and you will rarely visit - too close to home doesn't work either. How close is it to friends and family? About 100-200 miles from home seems to be the best range. You get the vacation feel that you have gone away and have not broken the bank in fuel costs.
3. What Type of Property Do You Need? Single family home or a condo? You don't have to set it in stone. Both have benefits - single family homes often offer yard space and condos give you option of maybe being poolside with no lawn to mow. Think about how many bedrooms (take visitors into account) and bathrooms are you going to need? What about parking?
4. Where Do You Want to be Located? Start a list of potential target locations. Close to the beach, near a lake, small town, or a more urban downtown area? Consider your hobbies like golf, gardening or surfing. Do you want to be close to cultural activities or a serenely private oasis. If you are considering down the road to retirement - medical facilities, transportation and an active senior community would be important questions to ask yourself.
5. Do Your Homework on the Communtity. Go online to Chamber of Commerce sites, city/town websites and area real estate websites. See if you like any of the local restaurant menus, checkout local activities and look at state web sites for historic destination and parks nearby.
6. Go Visit! Visit your top locations - check them out. See if you like the shopping areas, eat in the restaurants, talk to the people. Can you see yourself hanging out here? How does it feel? Take a walk around to get a feel of the place. The local Chamber of Commerce's will have lots of hand outs on local businesses. Schedule into your travel plans.
7. Put Your Finances Together! Doing this in advance makes the process of buying a second/vacation home much more fun. Knowing what you can spend and the tax benefits of it gets rid of the largest obstacle to ownership. You don't want to fall in love with your dream house only to find out you can't have it! Getting pre-approved for the mortgage puts you in a stronger negotiating position.
8. Hire the right real estate agent! Use a professional who has experience in second/vacation home sales. The right agent can make your search more efficient and fun. This is a purchase in your leisure activities so you want it to be fun and easy from the start!

Shannon Aldrich, Keller Williams Coastal Realty Portsmouth NH

Licensed in Maine & New Hampshire

The Real Estate Seacoast Team

Whist!

Whist? What is Whist?

Whist is a card game. Every Wednesday night at 6:30pm at the Moose Hall in Portsmouth they have a Whist Card Party. It is set up in a round robin fashion. You buy into the game for a whopping $2. After every hand you move down one seat and play with new partners. After 10 hands everyone breaks for snacks. Some of the best brownies around, I am telling you! Everyone brings a small treat to share and coffee/water is provided. Then we play another ten hands. At the end of the night the winner is the one with the most tricks.

Tricks? Yup. Here is a basic overview of the game. Derived from a older game called Ruff and Honours it was widely played in the 18th and 19th centuries. Similar in play to bridge but it moves faster. The classic game is a plain trick game without bidding played with 4 people. The rules are very simple but the logic involved in what to play when is quite intriguing. So four players sit two across from each other and your partner is the person diagonally across from you. All the cards in a standard 52 deck are dealt amongst the 4. Then you arrange your cards according suit with ace being the highest. There is always a trump suit that will override all other suits. But you can only play it when you have none of the other suit in your hand.

Any card can be led and the others follow suit (or trump) with the highest card winning the trick. Whoever won the last trick starts the play. When all thirteen tricks have been played you get one point for every trick you and your partner have over 6. The best part about this group is you get credits for having the most zero trick hands as well. The tenth hand and last hand are played as no trump hands with double trick points.

The game is super easy to pick up and I have had a lot of fun playing since May. Great way to go out for an evening. Play is usually done by 9-9:30pm and the company is great. Everyone is welcome to come join in on any night. Try it - If you like cards, you will like whist.

Shannon Aldrich, Keller Williams Coastal Realty, Portsmouth NH

Everyone wants to get as much for their home as possible when putting it up for sale. Often I hear Sellers say they "Want To Try It Out At X Price" or "We Need Room to Negotiate". Both of these thoughts can cost a Seller thousands of dollars in wasted time and lost dollars in the final sale price. The temptation to test the market can be great, but over pricing, and even accepting a bid at an inflated price, has a definite downside.

Overpricing Leads to Diminished Interest - Two things bring this about. First all the Agents in the area recognize it as an over priced listing and are reluctant to bring their Buyers to the party. These agents are not going to risk their credibility with their Buyers by showing them properties not worth the price. And secondly, an over priced home becomes stale on the market. Sitting while the initial 3 weeks of interest fades and costing the owner in holding costs and delays in their move.

Overpricing Leads to Fewer Offers - Buyers told want to insult a Seller with a "low ball" offer. They feel very uncomfortable submitting a realistic bid when there is a large difference between asking price and market value.

Overpricing Leads to Financing Problems - If we can't get it to Appraise we can't sell it in today's tightened market. No underwriter is going to take the risk plus Appraisers are clamping down on their valuations to avoid getting caught in a declining market.

Overpricing Leads to the Wrong Buyers - Buyers will be comparing your home to all the other on the market in the same price range. Those that are properly priced at market value will make your house look like a dissapointment and waste of time. The other properly priced homes will have more amenities, better conditions or updates. The Buyers who are qualified for your home will never see it on the internet because it will be too far out of thier price range. And when you finally drop the price they may have already bought.

"Price it High To Start and Then Drop It" is a strategy full of risk. When you finally do drop the price the potential Buyers and Agents can smell desparation and need to sell. Or they will think something is wrong with the property. Eventually your property will sell but at how much of a loss when you take in to consideration carrying costs and time lost. Are you now carrying two mortgages, paying ongoing expenses like property taxes and slowly losing a potential profit.

How do you keep from overpricing a property - stick to the facts and dump your emotions out of it. Ask your professional real estate agent what has sold that is similar to your home as it is. That's what the Appraiser's are going to be looking at. Just the numbers and the facts are all that really matter. Work with your agent to develop a comprehensive marketing plan that will generate interest from the moment your home hits the market. Try to stay unbiased and realizes that selling a home is business not feelings. The first three weeks are crucial so don't let the temptation to overprice seduce you away from getting a high price, quickly.

Shannon Aldrich, Keller Williams Coastal Realty Portsmouth NH

www.RealEstateSeacoast.com

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With gas reaching $4 a gallon there must be ways to use it more efficiently. Re-thinking the way we drive can be a challenge in our hurry up world but I have found several ways to save gas while driving.

Start with a fuel efficient vehicle. An increase in 10mpg fuel economy rating can save you $5,000 in fuel cost over five years, based on $4 per gallon.

Limiting the amount of time my car idles - Idling more than 10 seconds uses more fuel than restarting the engine. Turn your car off when parked or stopped for more than 10 seconds, except, of course, in Traffic!

It is not hard on the engine to turn it on and off. Frequent restarting has very little impact on the starter motor and battery.

Excessive idling can damage the engine. An idling engine isn't operating at its peak temperature, which results in incomplete fuel combustion. This leaves fuel residues that can contaminate oil.

Engines don't need more than 30 seconds to "warm up". Maybe this was true in the past but today's modern engines are ready to go.

Drive up windows are a waste of gas! Park your car and go inside when running errands at the bank, pharmacy, coffee stop and fast food dinner.

Take out the remote starter (or at least don't use it). How often have you forgotten and discovered the car has been running for 10 minutes or more. If it's winter - put on more clothes vs. expecting a toasty interior.

Don't be a Jack Rabbit! When starting from a dead stop, accelerate slowly.

Traveling at 55mph gives you up to 21% better gas mileage. Over 40mph the car has to overcome tremendous wind resistance.

Plan out your trips in advance. The most practical trip goes in order and in a straight line. Know where you are going and plan your trips that way.

Remove all the stuff from your back seat and trunk. Lighten the load that you are hauling around with you every day to save gas.

Keep your car well maintained. Check the tires for proper inflation; get filters and oil changed regularly. Keeping you car washed and waxed actually improves the aerodynamics and fuel savings.

Go at a slow and steady pace. No tailgating, no revving the engine at stops; no aggressive driving that cause you to drive the brake. Remember it was the turtle who won the race not the hare.

The price of gas isn't going down anytime soon, if ever. So let's use this resource wisely and the most cost effectively possible. No reason to stay at home but gallons of reasons to think it through before getting behind the wheel.

Real Estate Market Update Update 24 For April 27-May 2, 2008

Rockingham County, New Hampshire

Single Family Homes

• Total Listings Available 2,340 (Last Report 2,340)
• Price Range $54,900-$9,500,000
• Total New Listings This Report 104 (Last Report 144)
• Price Range $54,900-$1,450,000
• Total Pending This Report 30 (Last Report 49)
• Total Withdrawn This Report 19 (Last Report 25)
• Total Expired This Report 75 (Last Report 30)
• Total Sold This Report 72 (Last Report 48 )

Condos

• Total Listings Available 933 (Last Report 950)
• Price Range $58,000-$1,250,000
• Total New Listings This Report 39 (Last Report 46)
• Price Range $80,000-$1,250,000
• Total Pending This Report 21 (Last Report 21)
• Total Withdrawn This Report 10 (Last Report 7)
• Total Expired This Report 31 (Last Report 8 )
• Total Sold This Report 18 (Last Report 25)

Shannon Aldrich, Keller Williams Coastal Realty Portsmouth, NH

Join the monthly e-newsletter for featured listings, area happenings and updated real estate information at saldrich@kw.com I respect your privacy and will never share your email address.

This information for Rockingham and Strafford counties is compiled through NNEREN, Northern New England Real Estate