I always drop by JOAN'S BLOG...and when you read the post that follows, you may want to do the same..... JOAN has a way of smiling through her posts ...THAT captures my attention every time.Read on to discover WHAT MAKES THIS a good time to invest in a home...or land...
It seems that not a day goes by that someone asks me, "Hey Joan, has the housing market in New Hampshire hit bottom yet?
I always reply "It is impossible to know when the housing market has reached the bottom until things start to go back up... If I knew the answer to THAT question, I would be making the big bucks.. like the pundits on CNN"
There is good news for New Hampshire home buyers...
According to Peter Franchese, a well known demographer for the State, New Hampshire is close to or at the bottom. Franchese agrees that it is impossible to call the bottom, but in a press conference last week he indicated that he was reasonably comfortable in saying that a house will be worth about the same or more in a year.
Figures recently released from the New Hampshire Association of Realtors® indictred the statewide median sale price was $195,000 in the first quarter of 2009, which is $40,000 less than the first quarter one year ago.
Franchese uses a ratio that compares the median home sale price to the average household income. Franchese concludes that homes are affordable and people who would have been priced out of the market are now able to buy a home.
This is good news for homebuyers. There are a lot of reasons to buy a home in New Hampshire.
- Home are more affordable.
- Interest rates remain at an historic low.
- First time home buyers may be eligible for the $8000 First Time Home Buyer Tax Credit. However, only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible for the Tax Credit.
- The First Time Home Buyer Tax credit may be used along with New Hampshire Housing Financing Authority loans and grants.
- There are green and energy tax credits available to buyers.
- New Hampshire does NOT have a state income tax.
New Hampshire is a great place to Live... and It is a Great Time to Buy!
Photo Courtesy of: Stever Parker_FLICKR, creative commons
Disclaimer: Information herein may come from various sources, some of which may not be reliable and may change without any notice. Joan Whitebook does not guarantee or is any way responsible for the accuracy of the information in this blog and information provided is without warranties of any kind, either express or implied. Information on this blog represents the opinions and ideas of the author; comments by others may not express the views of the author.
Copyright © 2009 By Joan Whitebook, all rights reserved.*Copyrights "Have We Hit Bottom Yet? ... What Buyers and Sellers Want to Know"
Whether you are relocating to New Hampshire or already live in New Hampshire and you seek buyer focused representation, contact me, I would love to show your this beautiful state.\ Information used with permission of Peter Franchese and NHAR.
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