Lest we forget - the $8000 tax credit for first time home buyers expires at the end of November, 2009. This means that, to take advantage of this opportunity, a first time buyer must have purchased and closed on their primary residence before the end of November. In the current world of real estate transactions, this means that you first-timers out there should be looking for your new home right now!<< MORE >>

I was watching an old John Wayne movie late the other night right after the news of Walter Cronkite's death was reported. As I watched and tried to identify the actors as best I could from having first seen them in my youth, it struck me that every one of the people I could identify was dead. John Wayne, Dean Martin, Ward Bond, Ricky Nelson and half a dozen others I can't remember now. Not to mention that most of the other lesser known players are probably dead as well. << MORE >>

I read a piece in the Valley News submitted by a professor at Dartmouth's Tuck School of Business a couple of days ago that has been bothering me ever since I saw it. In it, the professor, no doubt a learned and respected member of the faculty ,raised the old question of whether home ownership is a "good" investment. I have seen and heard this argument raised before and can't just let it go by again. The simplified version of his claim is that $15,000 invested in the stock market, even if the market goes completely sour, is less risky that using the same $15,000 as a down payment on a home and borrowing the balance of the purchase price in the form of a mortgage. Of course his answer is perfectly correct as far as it goes. The potential total loss in the stock market is limited to the original $15,000 and the potential total loss in the real estate purchase is the total cost of the property which because a portion of the purchase has been borrowed will be far greater than $15,000. The problems with the premise are as follows:<< MORE >>

Even though it really hasn't felt very summery so far this year, it actually is summer and the summer real estate market is under way. The initial flush of spring buyers has now morphed into more of a steady trickle of buyers entering the market after feeling that the bottom has probably been reached. Meanwhile, properties are pouring onto the market at a pace more reminiscent of early spring. So buyers are enjoying a wide selection of homes to look at except for the $150K and under price-range. The influx of first time buyers into this pool of properties has decimated an already thin supply leaving only some pretty chancy selections, i.e. houses that need a lot of work or located in a less than desirable spot.<< MORE >>

With all of the hoopla surrounding the government's various stimulus packages, much of the hype has been dedicated, second only to the 1rst time buyer tax credit, to new (really not very new) FHA and Rural Development Loans for home buyers without much cash. The difference for lenders being that these loans are insured by the government, which makes them a little more palatable to now-cautious lenders.<< MORE >>

Hi Folks - For general info on the 2008  1rst Time Home Buyer Tax Credit as promulgated by the National Association of REALTORS, please click the link below:

1rst Time Home Buyer Tax Credit

Check back often for changes or updates on this very beneficial program!

        

Well - it's official. The business leaders of the Upper Valley have declared that the real estate market has "hit bottom" with only minimal damage in terms of sales prices and days on the market. It seems according to one leader that, "We're rolling again!" While I would love to leap onto the band wagon and in fact, I admit that activity has certainly been good given the negative press and the economic bad news on almost every other front; I have to ask for a pause in the euphoria long enough to make a couple of observations. Mine are ...<< MORE >>

Well, it's happening again. A real estate allegory snatched from the headlines. By now, we've all heard about the BBC talent show sensation and viral YouTube star, Susan Boyle, whose claim to her fifteen or slightly more minutes of fame is that she is able to carry a tune on pitch with a very pleasant singing voice and a positive stage presence. I also might mention that she is apparently even more famous for what she is not. That is, she is not a half-dressed, tattooed, pierced, bleached blond, no talent, rock star wannabee like most of her competition. << MORE >>

I guess this entry is only peripherally about real estate. but it's been a long winter and we don't get much irony in these parts, so I couldn't resist sharing a thought that struck me this morning as I watched the news on TV. Of course, the media are full of the story of an American flagged ship being attacked by pirates, the ensuing fight to overcome the miscreants  and the captain being taken hostage. All of these things are clearly criminal acts and deserving of a strong response and stern punishment. ...<< MORE >>

Spring has officially begun and the real estate buying season is off and running. In the Upper Valley, the phone is ringing often and buyers are looking around a lot. Sellers are listing their properties in spite of the national hype about the market and, in fact, properly priced properties are selling. Buyers are taking their time and negotiating hard. Rates are at historic lows and, in spite of tighter credit restrictions, qualified buyers with some cash to put down are receiving mortgage loans and, combined with lower prices, are saving a ton of money.<< MORE >>