Eastman Real Estate Blog

In home business potential, 7 garage bays

This property has endless potential. The last use was an antique shop in one space with two small retail shops occupying two other buildings. There’s over 2,800 square feet of space, plus a separate office space, a detached 4 car garage, an attached 3 car garage, and a storage shed. The living quarters are immaculate and a private deck with mountain views. Living space can easily be doubled by joining the first and second floors of the main building.

A tenant is renting the living space, the potential to rent out each of the 4 bays in the 4 car garage to generate more income. The location is 10 minutes or less from RT 89 exit 10 or 11. Ten minutes from New London town center, less then 10 minutes from the Country Club of Hew Hampshire, Kearsarge Middle School and Kearsarge High School.

Come take a look, you will be amazed at the space and potential use.

Well the weather is awesome and will be through the weekend and into next week. There are a few obivious things to do now that the weather is warm and the sun is shining. The lake is just shimmering with the slightest of breezes, it’s time for kayaks, canoes, swimming and sailing.

Golf leagues are under way and the nets are up on the tennis courts. Tennis leagues start within the next two weeks. Walking and hiking the local trails can be a lot of fun too.

If your still in need of extra activities find out here on whats happening. A trip in the fall to Acadia looks like it will be fun.

Let me start by saying that for me, this year has started off as my best year ever. One other agent in my office is off to her best year ever. There is no doubt that home sales in this area were moving right along. That is until the end of March when things seemingly quieted down. Now we are into mid May and more and more people I talk to are saying the same thing. Agents and mortgage brokers from Hanover to Warner are all saying “it’s quiet”.

Here’s some information that is not in the main stream media just yet. HEADLINE: Housing Starts Rise 5.8% Yes this was a national headline and for April that was great news. Even single family home starts rose 10.2%. As you read further multifamily starts declined 18.6% but the biggest number that was buried was the fact that new home building permits, which gauge future activity declined 11.5% to an annual rate not seen since October 09′.

The next big miss by major media was that mortgage applications dropped 27.1% compared to the previous week and was 24.1% lower than the same week last year. It was actually the lowest level of applications since May 1997!

Even while mortgage rates have dropped a half point or more in recent weeks, mortgage applications drop to the lowest level in thirteen years?

Where is this market going? Non of the so called experts seem to know. One head line read “Housing Prices Could Rise 12.4% By 2014″. This is based on an average of 100 analysts and market strategists. Some of these so called strategists worked for banks and one prediction from a banker was home prices will rise 37% by the end of 2014. Is this guy serious? It would be great if he was right but I’m not going out on that limb. Other analysts had more bearish thoughts, predictions of still more declines of 18%.

I’m not sure where were going on a national level but what is happening here in Eastman? As long as there is a large inventory , sellers have little pricing power. With 86 homes and 34 condos currently on the market, the property’s that will sell are the ones that have the greatest value (nicest home for least cost).

It appears to me that locally, it’s still a buyers market and price appreciation is not going to happen in 2010.

New to the market, priced @ $339,500

This bright and sunny cape was built and maintained by the current owner. Loving care and attention to detail has always been the owners priority.

A large kitchen with higher end cabinets with granite tops to start. Solid wood floors throughout the first floor level leads to a slider that takes you to a stone patio in the sun or on the north side of the home a door leads to the screened porch. The north side keeps the screened area cool in the summer so you can leave the door open and let the fresh air in. A central wood stove can heat the entire home, on the other side of the brick chimney is a wood burning fire place.

The living room is large enough for an entire family and guests. Natural light fills the room plus seasonal views to Eastman Lake. Also on the first floor is the center entryway, a half bath and basement access.

As you head up the stairs, the hallway opens up to three bedrooms (one a master) and full bath. The master has an ample walk in closet, southern exposure, round top window, skylight and plenty of space. The master bath has his and her sinks, a jetted tub and shower stall. A skylight adds to the sun filled room, not to mention the “shotgun windows”. Two other bedrooms and a full bath complete the second floor.

Additional features of this home include finishable space in the basement, a detached garage with storage above. Do you like gardens and flowers? Established gardens are flourishing as spring turns into summer. The front yard is grass, a rarity in Eastman, and it adds lovely color to this home. Kids or grand kids will love to play outside here.

Walk to the lake or hike the trail around the lake. Take the lake trail right to the beach! Hike to Butternut or Cole Pond right from Shore Rd. If you like to fish, Cole Pond is fly fishing only.

If this home sounds interesting, please call my cell (603-568-0609) or send me an email to set up an appointment.  jeffadie@gmail.com

There’s quite a bit going on in the next few weeks as the weather warms and the golf and tennis season really gets underway.

As always on of my favorites is Jason Cann playing the Bistro from 6-9pm on Friday 5/7. That is always a great time. How about a woodland walk at Storrs Pond on Wednesday am 5/5. Are you into scrap-booking? There’s a group here that’s hosting a weekend event if you want to partake. Get the PDF full list of Things To Do

Has the housing market turned in Eastman? Are there buyers out there? Are they looking or actually buying?

These are two of the most popular questions I am asked on a daily basis. Here are some numbers that prove Eastman home sales have turned the corner.

From January 1st, 2009 through May 1st, 2009 there were 5 homes that sold in Eastman. From January 1st, 2010 through May 1st, 2010 there have been 17. That’s correct a more than 300% increase in the year over year time period. Another thing that makes this recovery look good is the amount of homes contingent or pending. Contingent is when there is a Purchase and Sales agreement on a home and the buyer and seller have agreed on a price but there still contingencies that need to be completed. IE; Financing, home and septic inspections etc. Pending is when an agreement has passes through the contingency stage and the sale is eminent. Pending home sales stand at 6 and contingent homes total 9.

The likely hood of all these homes making it through to closing is not 100% but it is very possible that Eastman home sales will reach the low thirty’s in the  first sixth months of the year. This will equal or surpass the total number of homes sold in all of last year! For 2009 there were 32 homes sold in Eastman.

Now the question is will the market continue to be strong? The predictions for higher interest rates hasn’t happened yet. So that is a very positive sign. The home buyer tax credits have expired so only time will tell if there is a slow down in the market. My guess is the tax credit will be a non issue here in Eastman. My reasoning is that Eastman is really not an area that draws first time home buyers. It does happen, several of my sales over the last few years have been to first time buyers. I would put Eastman first time home buyer sales at less than 5% of all homes sold.

I believe that we might see a modest slowdown in sales based on economic activity. Gas is almost $3.00 a gallon. Dartmouth is still reducing it’s work force. How bad is the huge oil spill in the Gulf going to affect the economy? I would think gas and oil prices will rise even more.

I think we get to at least 50 homes sold by years end in the Eastman Community and that’s not a bad year!