Carolyn Abell Hodges

Fall Newsletters are Here!

2010-09-01T13:59:00.001-04:00

Below are links to our local fall newsletters. You'll find local events, recent sales, and a few good books. Enjoy!

Portsmouth - Rye - North Hampton - New Castle

Dover - Durham - Madbury - Lee - Rochester

Calendar of Events

Fidelity Jumper Classic
Sept. 15-19
International show jumping competition.
Silver Oaks Equestrian Ctr., Hampton Falls
www.jumperclassic.com

NH Fish & Lobster Festival
Sept. 25
Community support of local fishing industry. Seafood tasting, games, music and more.
Portsmouth docks
www.nhseafood.com

Walk to Cure Diabetes
Sept. 26 at 9am
Swasey Parkway, Exeter
Contact Kerry 603-222-2300

Children's Museum 27th Birthday Celebration
Sept. 26 – 12-5pm
Festivities, party games & treats.
6 Washington St., Dover
603-742-2002

Apple Harvest Day
Oct. 2 - All day family event
Crafters, food, live entertainment.
Visit our booth benefiting Dover
Children's Home.
Downtown Dover
www.dovernh.org

Celebrate Pink 5K Road Race & Walk
Oct. 9 at 9am
Portsmouth Community Road Race series
http://www.pcrrs.org/

Harvest Moon Festival
Oct. 9-10 – 10am-6pm
Arts, crafts, entertainment & fireworks.
Ocean Blvd., Hampton Beach
603-926-8717
hamptonbeachinfo@comcast.net

Octoberfest
Oct. 1-31
A month of family fun.
Greater York Chamber of Commerce
207-363-4422
www.gatewaytomaine.org

Halloween Parade
Oct. 31
Downtown Portsmouth
madamesbat@gmail.com

Exeter Area Women's Club Yuletide Fair
Nov. 25
Cooperative Middle School
Academic Way, Stratham
603-772-9334

Flatbread / CBRB Benefit
Families First
Nov. 2 – 4-9:30pm

Join our office while we go all out to raise money with the generosity of Flatbread Portsmouth for Families First. Raffle, good food, great company!

138 Congress St., Portsmouth
603-436-7888
Judy.tracey@nemoves.com

As Summer winds down it doesn’t mean the fun has to!

2010-08-18T09:07:00.001-04:00

September / October Fair Ground Events for the Seacoast

New Hampshire

Hopkinton State Fair - September 2nd - 6th / Contoocook / 603-746-4191

Rochester Fair - September 17th - 26th / 72 Lafayette St., Rochester /rochesterfair@metrocast.net

Deerfield Fair - September 30th - October 3rd / 34 Stage Rd, Deerfield /

603-463-7421

Dover Apple Festival - October 2nd / downtown Dover

Sandwich Fairs - October 9th - 11th / 7 Wentworth Hill Rd, Center Sandwich /www.thesandwichfair.com

Maine

Cumberland County Fair - September 26th - October 2nd / 197 Blanchard Rd, Cumberland /www.cumberlandfair.com

Fryeburg Fair - October 3rd - 10th /1154 Main St. Fryeburg / www.fryeburgfair.org

Massachusetts

The Big E - September 17th - October 3rd /1305 Memorial Ave.(RTE 147 East),

W. Springfield / www.thebige.com

Topsfield Fair - October 1st – 11th / 207 Boston St., Topsfield / www.topsfieldfair.org

Rent or Buy? Not sure? Try this rent vs buy calculator and see which makes more sense for you.

2010-08-04T13:24:00.004-04:00

<< Rent vs Buy Calculator >>

Mortgage News from our NEMoves Mortgage Team

2010-07-18T08:51:00.002-04:00

Mortgage Market In Review - 7-19-10

Market Comment

Mortgage bond prices rose pushing mortgage interest rates lower. Retail sales figures came in lower than expected with a 0.5% decrease. The Treasury auctions were mixed but didn’t result in much volatility. Inflation generally remained in check as the producer price index fell 0.5%, lower than the expected 0.2% decline. Core consumer prices were slightly higher than expected with a 0.2% increase. Weekly jobless claims were not as bad as expected but continued claims increased which was bond friendly. Significant stock weakness Friday helped mortgage interest rates improve. Rates fell by about 5/8 of a discount point for the week.

The most important data will be the housing starts Tuesday. Weekly jobless claims and leading economic indicators data will also be important. Be cautious in this normally lackluster mid-summer trading environment as stocks remain very volatile and economic conditions remain uncertain.

LOOKING AHEAD

Economic Indicator	Release Date & Time	Consensus Estimate	Analysis
Housing Starts	Tuesday, July 20, 8:30 am, et	Down 0.5%	Important. A measure of housing sector strength. Weakness may lead to lower rates.
Weekly Jobless Claims	Thursday, July 22, 8:30 am, et	420k	Important. An indication of employment. Higher claims may result in lower rates.
Existing Home Sales	Thursday, July 22, 10:00 am, et	Down 9.7%	Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates.
Leading Economic Indicators	Thursday, July 22, 10:00 am, et	Down 0.4%	Important. An indication of future economic activity. Weakness may lead to lower rates.

Housing Starts

Housing starts data is a leading indicator of the state of our economy. This report, provided by the Bureau of the Census, takes into account data from both single-family homes and multi-family dwellings. Building permits are also released with the housing starts data. By knowing the number of permits issued monthly, analysts can attempt to estimate for the upcoming months. Normally, starts are 10% higher than permits since all locations are not required to have a building permit.

Housing starts and permits give a warning of future economic activity. In effect, a rise in housing starts can lead to a fall in the bond market and vice versa. Consumers tend to hold off on the purchase of new homes, new cars, and other big-ticket items if they are worried about the future of the economy. Housing is an important part of our economy. Continued declines in housing starts can lead to continued economic slowdown and essentially a deeper recession. On the other hand, increases in housing starts could signal a possible reversal.

From the opposite perspective, changes in interest rates often lead to changes in housing starts. High interest rates can cause a significant decline in home sales, which can lead to a drop in housing starts. Just the opposite happens when rates drop and is one of the additional reasons the Fed is trying to keep rates low. Low mortgage rates affect both home sales and housing starts.

The housing market across the country is a vital component in sustaining the economy. The continued weakness of the housing market has many worried. Many economists believe housing will continue to suffer.

There is still uncertainty regarding the future state of the economy. The Fed minutes indicate growth expectations are lower. The Fed Chairman has stated that the timing of an economic recovery was "highly uncertain."

Mortgage interest rates are historically low. A cautious approach is wise to protect against future volatility. Rates could head lower but there are no guarantees. We all remember the housing price corrections that came when many people thought prices would only go higher. While rate spikes are not expected any time soon, they are still a lingering possibility.

Courtesy of Connie Margowsky, Kristin Williams and Denise Bloom, NE Moves

5 To Dos Before Marketing Your Home

2010-07-07T12:15:00.003-04:00

1. Flower up curb appeal.
Do the lawn and bushes look neatly manicured? Could it use more? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks? Does it smell like blooms or manure as you approach the front door? Are the windows clean? Is the paint peeling? Is the grass healthy? Weeds are green, too, you know, so by healthy I not only mean green, but I also mean no weeds. Does your front door have a fresh coat of stain or paint? Curb appeal can be a chore or a fun family event. Either way, it has to happen before the sign goes in the yard! And, by the way, continue it 'til the closing. It's just the right thing to do.

2. Have a pre-sale home inspection.
Be proactive. An inspector will give you a good indication of what will stand out to potential buyers.
Plus, it is highly likely the buyer will hire one themselves and why not eliminate everything he would otherwise report? You'll be able to make repairs before buyers start charging you 10 times the price in the low offers they would bring unmaintained or before their inspector gets there and the repair requests start flying in like rockets. The best way to avoid insulting low offers or nagging repair requests is look like a million bucks to begin with -- get things done before-hand.  3. Get replacement estimates. Do you have big-ticket items that are worn out or will need to be replaced soon, such your roof, old foggy windows or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home and will be handy when negotiations begin. Don't play poker. They will see your foggy window and raise you ten.

4. Find warranties.
Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Organize and clean.
De-clutter! Items like kitchen tools, out-of-season clothes, toys, and exercise equipment need to GO. Store items off-site or in boxes neatly arranged in storage areas. Clean windows, floors, fixtures, walls and baseboards to make the interior shine.
Sellers, the beauty of a tough economy is a lot of homes are neglected, abandoned, abused or otherwise show like poo. This is your chance to shine! Plus, none of the recommendations above are bank busters.

rebloged via http://kristenueckert.com/post/1653722/5-to-dos-before-marketing-your-home

Local events!

2010-03-17T09:58:00.002-04:00

Here are some wonderful local events for this Spring!

Please feel free to add any others that you feel would be helpful in your comments.

Seacoast Eat Local
Winter Farmer's Markets
Saturdays: 10am - 2pm.
Wentworth Greenhouses in Rollinsford, March 27. Exeter High School, March 13 & April 10.
www.seacoasteatlocal.org

Rye Winter Farmer's Market
Rye Junior High School
Saturdays: 10am - 2pm.
mimiwhite@earthlink.net

Newmarket Winter Farmer's Market
Stone Church, Saturday March 2
9am - 1pm. Click here for more information.

Restaurant Week in Greater Portsmouth
Friday March 26 thru April 3
3-course prix fixe menus.
restaurantweekportsmouth.com
Phone: 603-610-5510

Seacoast Home & Garden Show
Whittemore Arena, UNH.
March 26, 27, & 28
homegardenflowershow.com
Phone: 866-295-6438

29th Annual Red's Race:
5 mile run / 3 mile walk
Red's Shoe Barn, Dover
Sunday April 25 at 12pm.
redsrace@gmail.com
Phone: 603-742-2218

19th Annual Kitchen Tour
Portsmouth Music Hall
Saturday May 1 at 10am.
Kitchens in Kittery & Kittery Point, ME.
info@themusichall.org
Phone: 603-436-2400

Children's Day
Sponsored by Pro Portsmouth
Sunday, May 2 in downtown Portsmouth.
info@proportsmouth.org
Phone: 603-433-4398

I Survived Breast Cancer and All I Got Was This Lousy T-Shirt
Comedy show at Portsmouth Music Hall. Saturday, May 15 at 8pm. info@themusichall.org

Springtide
A Celebration of the Arts in Southern Maine. May 14, 15 & 16.
Celebrating the Culinary, Visual, Performing, and Fine Arts.
www.gatewaytomaine.org
Phone: 207-363-4422

Runner's Alley & Red Hook
Memorial 5k Race/Health Walk
Redhook Brewery, Portsmouth
Sunday, May 30 at 10am.
runnersalley.com/redhook.html
Phone: 603-430-1212

Spring Buying Season Starts Early Due to Tax Credit

2010-03-05T21:52:00.000-05:00

The Spring buying season typically takes off in March and runs through May. But buyers who want to claim this year's tax credit, up to $8,000 for first-time buyers and up to $6,500 for repeat buyers, must have signed purchase contracts by April 30th and complete the deal by June 30th.

Jim Gillespie, President and CEO of Coldwell Banker said it all with this statement. "Sales are going to take off in February and March and really take off in April. My concern is that the move-up buyer hasn't thought what they need to do. Their window is really short. They have to coordinate closing dates."

—Jim Gillespie, President & CEO of Coldwell Banker, "Springtime House Hunters out Early Thanks to Tax Credit", by Stephanie Armour, USA Today

If you need some help this spring getting your home ready for the market - give me a call! I'm happy to help.

The truisms of making an offer

2010-01-26T10:49:00.001-05:00

What is the best way to put together an offer to purchase a home you ask? Here are some suggestions and "truisms" to help you along -

Truisms:

Homes will always sell at market value. Market value is determined by what a buyer is willing to pay.
Market value is not a fixed, rigid price, but instead is a range of value. This is because no two buyers are alike.
Property is a commodity, unlike a car that loses it's value over time. Property values fluctuate with the market.
You, the buyer, are the market.

Helpful do's and don't's

Don't offend. Unless you are offering on a property which has been held purely for investment, the seller is emotionally invested in his property.
Do get personal.Write a cover letter summarizing why you believe this is the right home for you. On many occasions, I have seen sellers accept a lower offer because they felt a connection with the buyer.
Don't defend your offer the wrong way. As in, by saying it is all you can afford or that you are basing it on what you believe values will be during the next lunar cycle. This approach will likely leave the seller with the notion that there is a buyer out there, one who isn't you, who can afford his home and at the price it is worth now.
Do know the seller's circumstances. Does the seller want to move or does he need to move? Circumstances will dictate whether there is a bargain on the horizon, and knowing this in advance can save everyone the aggravation of a long trip to nowhere.
Don't preach. Your buyer's agent has given you information on comparable property sales. Beating the seller over the head with your 16-column spreadsheet will not endear you to him. He has set a price, presumably after having taken this same data under consideration. You may believe his price to be high, but it is his price. Insulting his intelligence (even if you believe this intelligence, based on the price he is asking, is of the artificial variety) will not further your cause.
Do be prepared to negotiate. No buyer wants to think they paid too much, and no seller wants to think he sold out. In negotiations, everyone wants to feel like they were in control and that they prevailed.
Don't be unreasonable. There is value, and then there is crazy-talk. If a home is offered for X, and you are willing to pay 10% less than X, do not offer X minus $2 million and then ask the seller to throw in his bedroom furniture and a pony. You will not be taken seriously.

(above article adapted from Crafting a Winning Purchase Offer, by Kris Berg, FrontDoor.com, 7/9/2008)

2010-01-13T12:45:00.001-05:00

Work on Referral Business this month. If you have family or friends who are thinking of moving or buying a second home anywhere in the country, let me know. I'd be happy to consult with them to help them find information and market data in that area.

Here, there and everywhere!

2010-01-13T12:44:00.002-05:00

I'm working on Referral Business this month. If you have family or friends who are thinking of moving or buying a second home anywhere in the country, let me know. I'd be happy to consult with them to help them find information and market data in that area.

2010-01-06T16:59:00.001-05:00

Wishing everyone a prosperous 2010!

New Years Aspirations!

2010-01-06T12:13:00.000-05:00

I've decided to rename resolutions to aspirations. This year it's all about balance for me.

Balance of home life and career.
Balance of hobbies and to do's.
Balance of family and personal.
Balance of exercise and relaxing.
Balancing good food and healthy food (can they be the same?)

Have you thought about your aspirations? What would you like to see come to fruition in 2010?

Wishing you a joyour Holiday and a Happy New Years!

2009-12-24T16:02:00.000-05:00

Wishing you a joyous Holiday!

And a very happy New Year!

Should I Take My Home Off the Market During the Holidays?

2009-12-16T15:26:00.001-05:00

When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?
But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.
The holidays are a wonderful selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.
Before you take your home off the market, consider the following points:

Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.

Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.

Relocating families often don't have a choice when they can leave for their new destination. Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.

At Christmas time, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.

When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.

With many motivated buyers in the marketplace, you may find you have more showings than you would if you sold your home during a busier time of the year.

If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.

Written by Blanche Evans | http://realtytimes.com/

Staging your home for the holidays!

2009-12-06T13:52:00.000-05:00

The rule of thumb is do not go overboard or add a lot of overtly religious overtones - it may put off some buyers.

Simplicity is key! Try nicely decorated wreaths, pinecone centerpieces and festive candles.Make sure it goes with your current decor. If you use earth tones, keep earth colors. It you use a lot of blues, try blue ornaments and silver bells. Draw attention to your beautiful fireplace with garland and simple stockings. Lastly keep in it proportion! Don't overtake the living room with a huge tree. The simpler, the better.

One last idea - a pot of cider simmering on the stove or a warm batch of cookies can create a warm and festive feeling in your home.

The Tax Credit Has been extended!!

2009-11-09T11:20:00.000-05:00

Here's a run down as I received it from my company:

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between the date the bill is signed by President Obama and April 30, 2010.

Who Qualifies for the Extended Credit?

First-time home buyers who purchase homes between November 6, 2009 and April 30, 2010. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Current home owners purchasing a home between November 6, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.How Much Credit is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum credit allowed for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer’s tax credit is determined by additional factors:

The buyer’s income
The price of the home

Buyer Income
Under the Extended Home Buyer Tax Credit which is effective on the date the bill is signed by President Obama single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

Price of the Home
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

The information contained here is not to be construed as legal or tax advice.

Planning on staying in your home for awhile?

2009-10-19T12:47:00.000-04:00

I thought I would talk about some ways to keep the value of your home, and even make improvements, when you are planning on staying for awhile.

A great way to stay on top of things is to periodically have a home inspection. A certified home inspector can pinpoint areas of concern and areas where improvements can be made. Many of our homes show some wear and tear over the years, many are obvious, while some are "hidden", while others are things that we might never think to look for. A home inspector checks your home top to bottom, and with your permission as the home owner, can even open up walls to check for insulation and water damage to name a few. They provide a full report outlining the areas that may need immediate attention, and also those that you can get to when you're ready.

If you need the name of a reliable home inspector, give me a call. I have a list of inspectors who I'd be happy to refer you to.

What is a short sale you ask?

2009-09-30T10:43:00.001-04:00

A short sale is when a lienholder, typically the mortgage company, agrees to release their lien for less than what is owed to them.

Here's an example:
Mortgage payoff from seller: $300,000
Market value on property is $275,000
The "short" is $25,000

Short sales typically take a bit longer than a typical sale so buyers will need to keep that in mind.

If you would like more information, feel free to contact me.

Fall newsletters are out from your Coldwell Banker Residential Brokage team!

2009-09-24T12:10:00.003-04:00

Find out all the local happenings in our Seacoast Area here!

Portsmouth

•

Dover

•

Exeter

•
Kittery

Happy Fall everyone!

Fall Cleanup - ways to improve your curb appeal this fall

2009-09-15T10:43:00.000-04:00

One of the first things you can do to help with the clean up is to give your tools a good tune up. It's make your clean up go more quickly and it'll be a little easier on your back.

Go for the obvious:

Keep those leaves racked
Weed and thatch to keep things looking fresh
Pick up the poop - need I say more?
Clean out your garden
Add planters with bright flowers like mums to represent the season
Paint or stain the deck. Not only will it spruce up the deck but it will also help protect it during the winter months

Enjoy the crisp fall air while getting a little exercise and enjoy your newly cleaned up yard! Potential buyers will be more apt to want to see your home if the exterior is looking it's best.

Tools for real estate

2009-09-08T13:45:00.002-04:00

Wondering how much a mortgage payment might be? Need a goal planner or a new worth worksheet? msnbc has some gret tools that I want to share. Keep in mind that these are only tools. For a real pre-approval, it's always best to speak with your mortgage officer.

Mortgage Calculator

Some happy news about our economy!

2009-08-28T14:07:00.003-04:00

Fed Chair Says the Worst Is Over

Federal Reserve Chair Ben Bernanke said on Friday that he was optimistic the economy is about to take off.

Bernanke acknowledged that credit is still tight, especially for businesses, but he told an audience of bankers, academics, and economists that the worst is over.

"Although we have avoided the worst, difficult challenges still lie ahead," Bernanke said. "We must work together to build on the gains already made to secure a sustained economic recovery."

Bernanke called for stronger regulation of financial rules "to ensure that the enormous costs of the past two years will not be borne again."

Source: The Associated Press, Jeannine Aversa (08/21/2009)

Home Staging 101

2009-08-14T21:12:00.003-04:00

One of the most important things a home owner can do is to make their home as attractive as possible to buyers. One of the simplest ways is through home staging. I plan on leaving lots of tidbits here on home staging! It's a fun topic and a very hot topic in real estate these days.

So, some basics with the interior to start with:

Remove clutter in all areas of the home
Remove personal items or wall hangings that might distract buyers' attention
Re-arrange furniture to create more space or draw the buyer in
Add or replace furnishings
Lighting changes to make rooms brighter or accent items
Painting rooms with neutral colors

A terrific article for those buying New Construction!

2009-08-02T08:18:00.001-04:00

Things I Wish I'd Known Before Buying a New Home

Avoid the top six mistakes new-home buyers make

By Bob Weinstein, FrontDoor.com | Published: 3/17/2009

One of the biggest mistakes new-home buyers make is assuming that everything in their house will work perfectly because it's brand new.

No matter how precise and careful builders are, there is no such thing as a perfect house, asserts Diane Saatchi, a senior vice president at real estate firm The Corcoran Group's East Hampton, N.Y., office. The company has offices throughout New York and South Florida.

"Problems always crop up," she says, "even though all the items on the builder's punch list (a list of all the things the builder must complete before closing) were resolved prior to the closing."

However, the new problems weren't on the punch list, and the new-home buyers have ended the relationship with the builders, which is a big mistake the frustrated homeowners now regret. For example, owners discover that the house's hot water tank is inadequate and can't supply enough hot water for three people taking showers at the same time. Or circuit breakers are shutting down when too many appliances are used simultaneously because the builder cheaped on wiring. And that's only the tip of the proverbial iceberg, says Saatchi.

The solution? Build a clause into the contract for fixing unidentified problems.

New-home buyers should prepare themselves for all contingencies by having their attorney include a clause in the contract that says that unidentified issues that crop up after the closing must be resolved. "The standard new construction insurance policy or warranty seldom covers these issues," Saatchi cautions.

And even when problems are resolved, never end a relationship with a builder, advises Saatchi. "Always maintain a good rapport because there is no predicting what problems will suddenly surface years after the homes were bought."

Frontdoor.com

2009-07-13T12:13:00.003-04:00

Such a fun site to learn a ton about the market, what you need (and don't need) when buying a home and about the cities and towns across America.

One of the featured sites that Coldwell Banker Residential Brokerage places it's homes for sale.

Come and take a gander at Dover, NH! http://www.frontdoor.com/city-guide/DOVER-NH-USA

Interested in learning more? Give me a call, I'll be happy to show you around the neighborhood!

Summer has arrived!

2009-07-12T15:02:00.003-04:00

The weather has finally turned and the market is in full swing!

If you're wondering what your home is worth, call me for a complimentary comparative market analysis. No pressure, just a true picture of what your home's value is in today's market.

Thinking about buying a home? I'd be happy to review your Home Buying Goals and Materials so you're ready when the right home becomes available.

With over 8 years of real estate experience, the resources of a strong office and the patience and understanding a caring professional, you're in good hands!