New Hampshire Real Estate Q&A

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New Hampshire Real Estate Q&A

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Like many other states, New Hampshire real estate has certainly been difficult the last few years. Until, that is, introduction of the Federal $8,000 tax credit earlier this year. The credit was the incentive buyers needed to get them out to look for homes and making offers.

Pending home sales in New Hampshire increased again in May for the fourth consecutive month. Coupled with favorable housing affordability conditions, the tax credit has clearly brought buyers into the market. Real estate experts, concerned the pool of first time buyers eligible for the credit was nearly exhausted, are pleased the credit extension deadline has produced a resurgence of buyers.

Now that market conditions appear better, what do you need to know to sell your home in New Hampshire?

For example, you recently listed your home with an agent. Based on the agent's input your listing price is $100,000 below the city's assessed value. You have had a number of showings but no offers after three months.

Neagtive feedback indicates your home needs repairs. Your flooring is old and outdated. Your windows and doors are are drafty. The home needs paint. Then a banker contact told you a home should never be listed for less than the appraised value. Now you plan to increase the listed price to the appraisal value. Are you doing the right thing?

Did your realtor provide a market analysis that includes properties that have sold in your area over the last few months that are similar to yours? The analysis serves as a reference to guide your listing price. Study it.

If your home needs repairs, move the listing price down, rather than up to the appraised value. Consider asking a bank appraiser to look at your property. They will indicate what a bank would be willing to lend a buyer of your home.

Buyers want the lowest price and sellers want the highest price. You, the seller, must set your price at what the market will bear. The best way to sell your home is to communicate, ask questions and become familiar with the process.

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