The market activity in Manchester, NH shows signs of a slow but optomistic future. Asking prices are reflecting dramatic price reductions as serious sellers ready themselves for offers. Currently there are 348 single family homes for sale in Manchester, NH. You can score a $64,900 Invester rehab in the city or a 1909,  $1.3 million dollar Greek Revival in the Stark Park area of Manchester. The choices are there! The median asking price  is $214,900 for a 3 bedroom, 2 bath 1700 sqft. home. Average days on the market is 83. Homes for Sale in Manchester See these Manchester, NH Homes for Sale on Zillow Get this widget As of April 30th,  295 single family homes have sold with a median sales price of $199,900. Another 82 are planning on closing in the next 60 days.  These pending sales have ... 11/02/2010

I was just asked a question from a potential buyer i wanted to share, after all it is actually a question that is common these days. the buyer asked "Seeing the house is owned by the bank, can i offer half price?The simple answer is YES you can make an offer of half of the asking price but it is another thing if they will accept it. Just because it is bank owned, does not mean they will take half off automatically. If you are a buyer, you want the best possible deal. Everyone has their advice how to get the best possible deal, but what is the right way and what is the wrong way?As a buyer, your goal is to get the a property at the best price and terms possible. If you can get it under market value your are getting a "a deal" and will be real happy.In a decling economy the first sign of ... 11/01/2010

If you are looking to rent to own a home, here are some tips to get you started.The first step: Get Prequailified...It is a good idea as the first step, to get prequailified. Meet with a local and trusted bank or mortgage company. Stay away from internet lenders. You need to find out how long it will take you to get a mortgage so you know how long of a lease your need. As well as what you will need to do to be quailified by the time that lease is up. You can get prequailified at no cost at most trusted lenders.Then you need to know what price range you will be able to purchase in. you do not want to lease a home out of your price range as you may never be able to purchase it. Second step: Look at properties within your price range...You may not have the resources to find the properties ... 10/27/2010

Are open houses worth the agents time and will they bring about a buyer?I am often asked if holding an open house at a listing will help bring about a quicker sale or mor epotential buyers.The answer is not so black and white, It really depends on what type of home and in what type of area you are in. For new construction, open houses are a must. For existing homes in not in an area that attracts a large drive by audience, open houses are just not worth the time and effort. More open house snow than ever are ending up with little or no visitors.Does the open house benefit the agent more than the seller then?Open houses can benefit the agents by getting potential leads for that agent more than seeing buyer walking in to buy that house. In this market where the banks are not giving out mo... 10/27/2010

This afternoons question is: "Will a bank postpone a foreclsoure auction if i sign a contract to sell my home via a short sale?" The first thing you have to know is the foreclosure department and the home retention or short sale departments work independantly of each other, in simple terms the left hand may not know what the right hand is doing. It is important you speak with the short sale department and ask them to get a postponement in writing, you may also want to call collections department and let them know about the short sale to seek a postponement from them in wirting. If you ignore it, the sale could take place while you are working on your short sale. Please see my blog with advice and tips on getting a short sale approved. http://www.trulia.com/blog/scott_godzyk/2010/06/how_... 10/25/2010

This Morning's question of the day is : IS A LISTING PRICE ON A SHORT SALE BASED ON OR AFFECTED BY WHAT THE SELLER OWES?The most simple of answers is the market value of a home listed as a short sale should not be affected by what the home owner owes. The listing price of a short sale should be priced at what the current market value of the property is.  The listing agent should complete a Broker Price Opinion that will show what the value is based on sales within the last 3 months andthe prices of what similar homes are currently listed at. The values are adjusted for amenities and property condition. Depending on the individual market, the house is then listed at market value or a percentage less than market value to attract potential buyers. For more advice and tips on buying or sell... 10/25/2010

The new unepmloyment rates for New Hampshire and for the country are out and they are good news for New Hampshire as things remain the same at the national level. New Hampshire's rate for September (seasonally adjusted rate was 5.5%) while the unadjusted rate was 5.1 %) for New Hampshire while the national number remained close to the same at (9.6% seasonally adjusted and 9.2%  when not adjusted seasonally).The rate in New Hampshire is down .2% from September and down 1.2% from this time last year. What does all this mean you ask? For New Hampshire it means the economy continues to grow as jobs are being added. New Hampshire has one of the lowest unemployment rates in the country. The Real Estate market is holding it's owm as buyers enjoy the lowest prices and the lowest interest rates ... 10/25/2010

Todays question is one of the most common ones coming in to me lately. 'Can i sell my home via a short sale to my spouse, kids or relative?" The most common answer is not in all cases. The reason is most banks will ask the home owner who is on the mortgage to sign an affadavit that they are not selling to a spouse, relaitive or family member.The person to ask is the person a home owner hires to conduct the short sale on their behalf. The home owner can also contact the home retention department for a list of any requirements, rules or guidelines that their bank sets for short sales.Please see my blog "How to get a short sale approved" for more advice and tips on short sales.http://www.trulia.com/blog/scott_godzyk/2010/06/how_to_get_a_short_sale_approvedBlog Updated October 24, 2010Blog ... 10/24/2010

I entered into a spirited debate with another agent over the question "Do you attend your home inspections either as a Listing Agent or Buyer Broker?".   I need to know what you think.As a listing agent i think it is important to attend the home inspection. You want to be there to see first hand anything that inspector may find, see how bad it is, if it can be fixed, how much to be fixed and the reaction of the buyer or their agent if this may become a problem. You can then contact the seller before getting that dreaded home inspection letter from the buyers agent.As a Buyer Broker it is really important to be there to guide your buyer through the home inspection as soem buyers may not understand the terms the inspector is using and most important to decipher what they find and if it sh... 10/20/2010

One of the most common questions i have been asked recently is, WHERE DO I IS START IF I WANT TO GET A MORTGAGE?The first thing any potential buyer needs to do when they start thinking they want to buy a home, is to contact a local and trusted mortage broker, bank or credit union. STAY AWAY from the internet lenders. You really want to be able to put a face to a voice and have a local source to be able to get information and drop off any paperwork or financials. A good local loan officer will pre-qualify you at no cost. They will look at your credit score but more importantly your whole financial picture. This includes your credit report, current income, debt and employment history. They will let you know what programs you may quailify for and what the down payment and closing costs for... 10/20/2010

This Mornings question is "My home was listed less than 2 weeks ago, i have an offer but it is lower than my asking price. What should i do?" The first thing you should do i be happy you received an offer where many houses are not even receiving showings.Hopfully you at BPO or appraisal on your home and set your asking price at or just below market value. You can never use a straight percentage of how much less than an asking price you should accept. Only you know what you need to sell your house for to move on, the rule of thumb is a house is only worth what a buyer is willing to pay for it. If you only have 1 offer work with that buyer, try a counter offer to get the price in the middle of what you were asking what they offered. Ask why the offered what they did, what did they base th... 10/17/2010

One of the most common questions form home owners is "When is the right time of the year to sell?"  and "Is there one time of the year that is better than another?"The first answer is that there are more buyers looking in the spring and summer, especially in the northern states where cold weather and snow disrupt our selling season. So listing early in the spring will subject your listing to more potential buyers than listing in the late fall or winter. On the other side more people place their homes for sale in the spring and summer so there is more homes for saleMany time fall is a even better time to sell if you are a home owner as there are less homes on the market. There is still a great deal of buyers with families with youn g chikdren moving, relocations and seniors looking to mo... 10/16/2010

PRE FORECLOSURES ARE SIMPLY THAT, A HOUSE ENTERING INTO THE FORECLOSURE PROCESS...are they a deal?Well If you are looking to buy one, you need to know some things...One of the biggest myths in foreclosures is "getting a deal on a preforeclosure". Let me tell you why, most houses are not even for sale, most home owners owe more than the house is worth in todays market and unfortanately if in a preforeclsoure situation, there is not enough time for them to complete a short sale. One of the most important things when buying a home is to have a willing seller, with most preforeclsoures, the homeowners are being forced from their homes, they have tried everything to save their home to no avail or have all but given up. Knocking on the door of one of these homes with a home owner in this situ... 10/16/2010

Manchester New Hampshire Real Estate Market Report 3rd quarter 2010 Condominiums and Townhomes In the 3rd quarter of 2010 there were 53 condominiums and townhomes that closed in Manchester New Hampshire. This is a decrease of 16 condos, as there were 69 condos that closed in the 3rd quarter of 2009. The median list price for the condominiums and townhomes that closed in Manchester for the 3rd quarter of 2010 was $139,900. The median list price for the condominiums and townhomes that closed in Manchester for the 3rd quarter of 2009 was $149,900. The median sale price for the condominiums and townhomes that closed in Manchester for the 3rd quarter of 2010 was $135,000. The median sale price for the condominiums and townhomes that closed in Manchester for the 3rd quarter of 2009 was $142,0... 10/15/2010

Manchester New Hampshire Real Estate Market Report 3rd quarter 2010 Single Family Homes In the 3rd quarter of 2010 there were 119 homes that closed in Manchester New Hampshire. This is a decrease of 81 homes, as there were 200 homes that closed in the 3rd quarter of 2009. The median list price for the homes that closed in Manchester for the 3rd quarter of 2010 was $219,000. The median list price for the homes that closed in Manchester for the 3rd quarter of 2009 was $204,900. The median sale price for the homes that closed in Manchester for the 3rd quarter of 2010 was $209,900. The median sale price for the homes that closed in Manchester for the 3rd quarter of 2009 was $199,950. The median market time for the homes that closed in Manchester in the 3rd quarter of 2010 was 77 days. The m... 10/15/2010

One of the most common questions is "If i am behind in my mortgage, how will this moratorium in foreclsoures affect me? What can i do? The first thing you need to know is there is not a moratorium with all banks and there is not a moratorium in all states. The states that require judicial review for a foreclosure meaning the bank needs to go before a judge to get approval to foreclose, have been halted, but in those states like NH, foreclosures have not been halted.What this has done is given home owners the opportunity to work with their bank for a work out. Home owners need to know there is help out there, if they have any ability to pay the banks can help them stay in their home by asking for the home retention department, it may take daily calls, but it is well worth their time and ... 10/15/2010

Todays question was from a potential buyer wondering why a buyer would purchase using cash rather than just getting a mortgage as interest rates are so low. The top reasons are speed of the transaction and ability to purchase properties where mortgages can not be obtained on them as they may need too much work.  With cash the buyer can close in 7-14 days as opposed to a 45 day average for obtaining a mortgage. Sellers will usually choose cash offers over an offer with contingincies as the cash sale is final, the buyer has no contingincies and the seller has a better chance knowing it is going to close where as the buyer with the mortgage can back out if the house doesnt appraise or if the bank declines them or decline the property iteself for needing too much work. These buyers can then... 10/15/2010

A common problem that has recently gotten worse with the increase in vacant listings is the lockbox. Agents are taking it upon themselves to go into houses without contacting the listing agent. Some are so bold to give the codes to their buyers while others cant seem to remember to put the keys back.Just becuase the home is vacant does not mean it does not deserve the same care and diligence you would give to an occupied house. It actually should require a higher degree of attention by that agent going into that house. It is respect, respect for the listing agent, respect for the home owner and respect for yoy being a professional who should treat any home you enter like your own.I have had agents leave the door wide open never mind just leaving it unlocked. leaving lights on, windows o... 10/13/2010

One of the most confusing part of a sale involving an REO (Bank owned home) is the banks disclosure addendums. With a bank owned home, your offer is usually presented to the listing agent in your standard purchase and sales agreement. That offer is loaded into that banks system by the listing agent. if the offer is accepted, the bank will then send their version of the seller addendum or seller disclosure. They can range form 2 pages to 24 pages. They bascally outline the terms of the sale and include any state and federal disclosures that all basically state the property is sold AS IS.The number one thing you need to know as a buyer or buyers agent is: You can not cross out or change anything on those bank addendums.What is being sold "as is"?It means the bank is not making any warrant... 10/11/2010

This morning a home owner writes in "WHAT EXACTLY IS A LOAN MODIFICATION AND HOW CAN IT HELP ME?" In simple terms a  loan modifcation is when teh bank rewrites the terms of your mortgage "modifying" things such as interest rate, monthly payment, the balance you owe or changing it from an adjustable to a fixed rate mortgage.Most commonly needed if you find yourself having difficulty making yoru current payment amount, if you owe more than house is currently worth or if your house is an adjustable and has adjusted upward raising your monthly payment. If you fall into these or similar categories, your best option is to contact your current lender, ask for the home retention department and ask them to complete a loan modifciation on your loan. You should gather some info before calling, you... 10/11/2010