You might not believe it, BUT, the National Association of Realtors stated recently that sales of existing homes rose to a 5.03 million annual rate in February which is an unexpected 2.9% increase. Why? The answer is that sales are being spurred by lower prices. Falling prices improve affordability and encourage people to make purchases.
In addition to existing home sales, new construction homes for sale at the end of February dropped to 471,000 units (in the US), the fewest since July 2005.
Rising sales and lower prices have also stimulated the mortgage market. This is due in part to recent Federal Reserve actions that have allowed the 30-year fixed mortgage to remain near 6% and the 15-year fixed to hang around 5.5%.
Now that your all up to date on the national market. Here's what happening in the real estate market in Rochester, New Hampshire.
During the month of March, 28 homes sold in Rochester:
-19 single family homes
-5 condos, and
-4 mobile home.
In addition, 22 Rochester homes went pending with active contracts in March and there are 320 active listings in Rochester.
Year-to-date, Rochester, NH homes sales are as follows:
61 homes sold in Rochester during the first quarter of 2008:
-40 single family homes
-11 condos, and
-10 mobile homes.
Not to bad huh?
Since prices and rates are low and sales are starting to turn around, now is the time to buy to get the best value. If you or someone you know is thinking of buying, investing or moving up, give me a call. If you wait, it may be too late!
If you're interested in receiving new home listings by email, or getting an over-the-net price opinion on your home, call or email me today or check out my websites http://www.seacoasthomesforyou.com/ or http://www.getfreepropertyvalues.com/ .
You might not believe it, BUT, the National Association of Realtors stated recently that sales of existing homes rose to a 5.03 million annual rate in February which is an unexpected 2.9% increase. Why? The answer is that sales are being spurred by lower prices. Falling prices improve affordability and encourage people to make purchases.
In addition, the number of new construction homes for sale dropped to 471,000 units (in the US) which is the smallest number of new construction homes on the market since July 2005.
Rising sales and lower prices have also stimulated the mortgage market. Recent Federal Reserve actions have also allowed the 30-year fixed mortgage to remain near 6% and the 15-year fixed to hang around 5.5%.
Now that you are all up to date on the national market. Here's an update on what's been happening in the Dover real estate market.
In the month of March, 16 homes sold in Dover
-10 single family homes, and
-6 condos.
In addition, 20 Dover homes went pending with active contracts in March and there are 286 active listings on the market in Dover.
Year-to-date, Dover, NH homes sales are as follows:
53 homes sold in Dover in the first quarter of 2008:
-32 single family homes
-19 condos, and
-2 mobile homes.
Not to bad huh?
Since prices and rates are low and sales are starting to turn around, now is the time to buy to get the best value. With that said, if you or someone you know is thinking of buying, investing or moving up, give me a call. If you wait, it may be too late!
If you're interested in receiving new home listings by email, or getting an over-the-net price opinion on your home, call or email me today or check out my websites http://www.seacoasthomesforyou.com/ or http://www.getfreepropertyvalues.com/ .
On Saturday, April 12th, a local team supported by a good friend of mine will be walking for Multiple Schlerosis. The five-mile route starts at 10 a.m. at the Portsmouth Middle School.
Multiple Schlerosis is a devastating disease that affects 14,000 individuals in New Hampshire and Massachusetts, and 400,000 people across the country. Those participating and donating their time to this walk are doing what they can to help and hopefully someday their efforts will help find a cure for this disease.
For every $1.oo raised for Multiple Schlerosis, 85 cents goes towards MS education, support, advocacy and research to help people with multiple sclerosis; 12 cents go towards fundraising; and 3 cents goes towards administration. If you are interested in walking, feel free to stop by April 12th in downtown Portsmouth, or go to www.msnewengland.org to find a walk in your area or make a donation.
Best of luck on the walk Carol!! I'm hoping to see you there!!
Although the snow continues to fall, there are still folks out there that need to buy homes! February was no exception in the Kittery/Eliot area. Here's the statistics for Kittery/Eliot home sales in February:
5 homes sold in Kittery/Eliot
-Four single family homes, and
-One mobile home
In addition, 20 Kittery/Eliot listings went pending with active contracts in February. There are also 153 active listings in this area, which includes residential, condo and mobile home listings.
Year-to-date, Kittery/Eliot, ME homes sales are as follows:
15 homes sold in Kittery/Eliot, ME in the first two months of 2008:
-11 single family homes,
-Three condos, and
-One mobile home
BUY low, SELL high. It's always the best real estate advice! The time to BUY is when prices are low and sellers are motivated. Sounds a lot like today doesn't it??!! Even if you sell your home now for less, you will also be buying a home at lower prices. You'll also get a good interest rate now and greater appreciation on a higher priced property. And, if you're happy in your current home, it may be time to consider a second home or an investment property as well!! Remember, BUY low...and, low is now!
If you're interested in receiving new home listings by email, or getting an over-the-net price opinion on your home, call or email me today or check out my websites www.seacoasthomesforyou.com or www.getfreepropertyvalues.com
Although the snow continues to fall, there are still folks out there that need to buy homes! February was no exception in the Hampton area. Here's the statistics for Hampton/North Hampton home sales in February:
14 homes sold in Hampton/North Hampton
-10 single family homes, and
-Three condos, and
-One mobile home
In addition, 19 Hampton/North Hampton listings went pending with active contracts in February. There are also 337 active listings in this area, which includes residential, condo and mobile home listings.
Year-to-date, Hampton/North Hampton, NH homes sales are as follows:
27 homes sold in Hampton/North Hampton in the first two months of 2008:
-19 single family homes,
-Five condos, and
-Three mobile homes
BUY low, SELL high. It's always the best real estate advice! The time to BUY is when prices are low and sellers are motivated. Sounds a lot like today doesn't it??!! Even if you sell your home now for less, you will also be buying a home at lower prices. You'll also get a good interest rate now and greater appreciation on a higher priced property. And, if you're happy in your current home, it may be time to consider a second home or an investment property as well!! Remember, BUY low...and, low is now!
If you're interested in receiving new home listings by email, or getting an over-the-net price opinion on your home, call or email me today or check out my websites http://www.seacoasthomesforyou.com/ or http://www.getfreepropertyvalues.com/
Your real estate resource for the Seacoast of New Hampshire and Southern Maine! Specializing in residential homes sales in the Portsmouth, Dover, Hampton areas as well as Kittery, Eliot and York, ME.
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