My New Blog

This is my crystal ball look at the single family real estate market for Sullivan County NH for 2012.  None of this may transpire; however, it is fun to see how well I do in predicting how the single family real estate market will turn out for 2012.  Much of this is based upon my experience as a certified residential real estate appraiser for the past 23+ years and analyzing real estate trends for that period.

Currently the real estate market is very slow for sales with values remaining relatively stable for the past 15+ mos in most market segments.  Values below $100,00 are mostly driven by bank foreclosures or resale of properties which were purchased at foreclosure by investors or such and fixed up and resold for quick sale purposes.  This segment of the market will remain very active and may increase for the first two quarters of 2012 and begin to taper off as the real estate market begins to firm up with a slowly improving economic market.

Values in the $100,000 to $ 150,000 price range will see little change for the first two quarters of 2012 and may begin to see a slight rise in value towards the end of 2012 as the foreeclosure market inventory begins to shrink and downward pressures begin to ease.

Values in the $150,000 to $200,000 price range will be fairly stable and sales still very slow for most of the year as buyers will be looking for good deals as the real estate market slowly improves.

Values in the $200,000 to $250,000 price range will be stable with sales remaining very slow with a slight improvement during the summer selling season and slowing back down during the winter months at the end of 2012.  Buyers in this market segment tend to be the professional working class and upper management professionals.  These people tend to be two income homeowners who are in the peak earning years of their occupations.

Values in the $250,000 to $350,000 price range will see slow sales growth beginning early summer thru the fall timeframe with no increase in values anticipated.  Much of this market is tied to seasonal properties around the lakes and ski areas.  Until the economy shows good job growth and improvement, this market segment will tend to remain very slow.

Values above the $350,000 price range will be remain flat with inventory slowly increasing as the economy improves as sellers will want to move on as buyers begin to return to the market with the improving economy.

A strong theme in the above predictions is a slowly improving economy and jobs market towards the second part of 2012.  No sharp improvement is expected since this is an election year and politics tend to impede any change in policy which would greatly help the economy.

It will be fun to analyze how I did when 2012 comes to a close.  I can only hope for a better economy and jobs market and faster improvement than I predict.

The above are only my predictions and readers may believe this will happen at their own risk.  I make no guarantee that any of this will take place.  (Must have a disclaimer).

Brian Paul Lessard, IFA

Just when everyone thought interest rates could not drop any further, they have!!!!!!  Interest rates are at historic lows and now may be your best time to refinance or utilize a home equity loan to your advantage.  Call or email my office if you have any questions and we may be able to help you save money.

Brian

The real estate market for residential properties remains very soft and fluctuating in many segment areas throughout the country.  Until the backlog of foreclosed properties is cleared, the market will remain depressed and will not begin to recover.  Interest rates remain at very low levels; however, they have begun to climb in recent weeks. 

If you plan on refinancing or getting an equity loan, now may be a good time.  First, you need to have equity in your home to be able to take advantage of the low rates.  Having a licensed or certified residential appraiser perform a market analysis on your property to determine if you have equity in your home may be a good first step.  This typically costs less than a full bank appraisal and will save you the hassle of filling out all the loan forms for no reason. 

Contact my firm if you have any questions or need a market analysis performed on your property.

Brian Paul Lessard, IFA

NH & VT Certified Residential Appraiser

A market analysis appraisal performed by a licensed or certified appraiser to set your listing price can be a very valuable tool.  An appraiser is an unbiased professional who can help you in determining the correct listing price for your home.  An appraiser is not motivated by selling price or commission so you get a more accurate value for your home.  By having the correct listing price, you can maximize your profit and ensure your home is competitively priced so it will sell in the current marketing timeframe.  You can be assured that when the buyer applies for a loan, the appraisal will come into value so they can get their loan. 

An appraisal can also help you in your negotiation with the potential buyer because you can show them the appraisal performed by an appraiser which  you utilized to set the asking price.  This will help you avoid the back and forth changing of offering price.

Selling your home can be a very stressful time and by utilizing an appraiser to help you set your listing price, you can reduce your stress in knowing that the listing price is correct and you can maximize your profit.

Please contact my office if we can be of any assistance or if you have any questions.

Brian Paul Lessard, IFA

Forecasting the Real Estate Market for the CT River Valley is a tenuous task at best.  To do this we must first look back on what has happened in the past 36 months.  Reviewing the real estate sales market for this 36 mos period revealed that the real estate market declined by an average of approximately 1/2% per month for approximately 26+/- mos till the last quarter of 2010 when the market showed signs of stabilization.  Current market conditions appear to have stabilized in most areas of the CT River Valley and are projected to remain so for the next 6 to 12 mos.  Interest rates are still at all time lows with rates beginning to fluctuate in the upward direction during the last few months.  I expect interest rates to begin a slow climb into the 5 to 6% range by summer 2011 end and remain in the range for an extended period till the economic recovery fully takes hold.  From a residential appraisal perspective, most work is expected to be refinance and equity loans with sales work slowly increasing during the spring/summer time frame.  A full housing market recovery is not expected to take place till 2012 when most foreclosures will have been processed and removed from the market scene.

If my firm can be of any service for your appraisal needs, please drop my office a phone call or email.  I look forward to serving my clients needs for the upcoming year and wish everyone a happy and prosperous new year.

Brian Paul Lessard, IFA

President, REVARI

May you and your family enjoy a happy and joyfull Thanksgiving Holiday.  If you are traveling, may you stay safe and enjoy the ride.  I thank all my clients for allowing my staff and I to serve all of your appraisal needs.  If we can be of any service for your appraisal needs, please contact us so we can provide prompt, professional appraisal services for you or your company.

Thank you,

REVARI Appraisal Staff

With interest rates at a historic low, it may be time to look at refinancing or getting an equity loan on your home.  If you have any questions concerning how you can do this or if your home will have the value needed for such an endeavor, my office can help.

Give us a call or drop us an email and we will see if the time is right for you to redo your loan or get an equity loan utilizing the value of your home.

Brian

If you are thinking of listing your property for sale by owner or with a real estate agency, you may want to get your property appraised first by a licensed real estate appraiser.  By establishing a fair market value for your property, you can save time and money since your property will be fairly priced.  This will ensure that when the buyer applies for a loan, the property will appraise out for the sales price.  Your property being fairly priced will sell more quickly and not sit on the market since it is overpriced.  An appraisal will also ensure that you get the full fair market value for your property.

A licensed real estate appraiser can provide this service so contact my office if you have any questions.

Brian Paul Lessard, IFA

Certified Residential Appraiser in NH & VT

Looking to make improvements to your home or buying something special for you or your family, a home equity loan may be the right choice for you.  If you have equity in your home, you can borrower against that equity and get a tax savings when you do.  Interest charged on equity loans may be tax deductible which a tax consultant can explain to you.  My office can perform an appraisal for your lending institution or give you a market analysis to determine if you have equity in your home.  Call me if you have any questions or need a market analysis on your home.

Brian Paul Lessard, IFA

If you are looking to refinance your existing loan or get an equity loan for home improvements or for other reasons, we may be able to help you through this process or offer advice as to you best options.  With over 22 years of appraisal experience, we can offer professional and courteous appraisal services.

Contact us today if we can be of any service to you.

Brian Paul Lessard, IFA

President, REVARI