Eastman Real Estate Blog

This article is proof that if you list your property and it’s priced properly it WILL SELL!

On March 10th, 2011 I listed 11 Barn Owl Overlook. Four days later it was under agreement. The buyers had been looking for weeks and just could not find the right home at the right value. On the first showing, the buyers decided that this house had everything they needed, was the right price and they made their move.

On March 16th, 2011 I listed 13 Highwood Way. A vacation style home that is rock solid but in need of updating. Fifteen days later we are under agreement!!

The homes are different enough and priced $65,000 apart that they attracted buyers looking for different features at different price points.

The point is…buyers are out there, but buyers will only step up to the plate when they see value. You don’t have to sell a property at a give away price. You just have to list the property at a price that is better than the homes competing in the same price range. Buyers will look at every property in their price range. This happens with every buyer and they are the one’s that determine market value.

Here’s another great example: Right now in Eastman there are 16 homes priced between $300,000-$350,000 and only 1 is contingent. That one buyer probably looked at a minimum of 10 to 12 houses and picked the one house that they felt was the best value. That house was on the market for 23 days!! It just stood out from the rest of the competition.

Today is March 20th, 2011.

After a very slow winter season of condo sales things seem to be picking up quite a bit. I’ve been showing condos a fair amount. Not to the point that I would like but there had been weeks and even months without a single showing. One condo has gone contingent and there will be a second shortly. At least within a few days.

Land showings are also starting to happen!! After a disastrous year in land sales in 2010, I’ve had several inquiries over the last few weeks and did a land tour with two potential land buyers this weekend. They are just learning about the community but I think they liked what they saw and will be back with more questions and hope make a purchase.

I hope everyone is enjoying this first day of spring!!!

It’s the beginning of March 2011 and after a very slow year of condo sales in 2010 things appear to be picking up. Currently there is only one condo under agreement but considering that is the first potential sale on almost 6 months this is great news!!!

Activity with potential buyers has increased too. Currently there are 27 condos on the market and buyers have been looking. I’ve personally shown some of my listings to buyers and  representing my sellers on showings with other agents. Showings in the last quarter of 2010 were few and far between. This month is historically the busiest month for condos to go under agreement as May is historically the busiest month for condo property transfers.  My thinking for this is, if a buyer wants a condo, they want to get it before the start of the summer season. Closing in May gives the new owner a bit of time to make the condo theirs before the start of summers play time.

35 Old Beach Circle

If you are looking for a spacious condo but don’t need 3 levels this just might be the unit for you. There is a main floor master, full bath and laundry with two bedrooms up with a full bath upstairs.

You can see the lake from the walk way to the front door so lake and beach access are so very close. Easy access in and out of Eastman from the North entrance makes arrivals and departures simple.

For more specific details and additional photos, www.jeffadie.com is the place to be.

It’s that time of year again when everything you did in 2010 starts to change. This year however, four out of the nine condo associations in Eastman had no change in maintenance costs. I have to give credit to East Lake, their monthly cost has not changed in four years! Below is the break down in monthly maintenance costs:

West Cove “A”    $302

West Cove “B”    $315

West Cove “C”    $292

West Cove “D”    $330 plus $240 a quarter special assessment

South Shore “I”   $400  plus $300 a quarter special assessment

South Shore “II”  $335 plus $50 a quarter special assessment

South Shore “III” $330

South Cove Heights  $325 plus $212.50 a quarter special assessment

East Lake  $286

I’m still waiting to get the actual budgets for two associations and when I do I will post all the budgets as well. I hope this helps to compare costs at a single glance.

Tikeenan Tile

This Eastman condo has been owned by one family since being built!

Many recent updates including a kitchen that most home owners dream of. Vermont slate solid counter tops and tile floor to match. Stainless steel appliances include a two drawer dishwasher. The refrigerator has a bottom freezer.The microwave convection oven is also the hood. Additional upper cabinets were added as were the narrow depth cabinets to hold glassware.

All sliders have been replaced, additional skylights for added light. An expanded dining area gives you that extra room that’s needed. The large wrap around deck gets great sun and sunsets and over looks the water at Eastman Cove. A fire-placed master with it’s own balcony gives you that romantic feel. The lower levels recent renovation includes flooring and trim details that look fantastic. A surround sound system is great for watching movies and sports. There are 3 outdoor storage areas for your winter and summer toys. TV cabinet in lower level negotiable.

For more info click here.

I got a few good questions today and here are some answers.

Why do you only show the list price of your sold properties? If you are looking at sold properties from my www.EastmanRealEstate.net blog, the blog links directly to my other web site www.JeffAdie.com
That site is limited to what information I can input. The list price is the only price I can post and I’ve asked for that to be changed and no success there.

You don’t show days on market, why? This is a very complex number and I don’t believe its valid. Here are some of the reasons why.

Properties are listed too high, don’t sell, then people take them off the market. The seller either re-lists or changes agents. If they re-list all you have to do is wait 30 days, get a new MLS number and the days on market number resets to zero. If they change agencies, you can re-list right away, get a new MLS number and days on market start at zero. I’ve seen the same property go on and off the market for years but the days on market only show a handful of days when it should be years. Another issue I have with days on market is a scenario like this.

New Listing January 1st, 2009 Price $500,000. Three months go by no showings

Price Reduction April 1st, 2009 new price $475,000. One or two showings but nothing happens.

Price Reduction July 1st, 2009 new price $450,000. Several showings, even some interest but no offers.

Price Reduction October 1st, 2009 new price $425,000. Showings start, interest, and the house sells at $419,000 and closes on  October 30th, 2009.

Here is my question: Should the days on market be 304 days? Or should it be 30? The original price was a pipe dream, the property would still be on the market if they didn’t reduce the price. If the home was priced at $425,000 it would have most likely sold in 30 days.

What do you think?

If you haven’t noticed recently interest rates have dropped to their lowest point in decades.

Local lenders all around Grantham NH have rates as low as 4.375% for a 30 year fixed rate loan. If you want a 5 year adjustable then how does 3.5% sound?

When I bought my first house in New London NH I was thrilled to have an interest rate of 7.99% I thought that was the best I would ever get. Back in November I purchases home number 4. Just 9 months ago I was happy to see 4.75% I’m still happy with this rate and who would have thought that rates would continue to drop?

So many “experts” were saying how rates would jump as high as 8% by the fall of 2010. I had serious reservations about that but I too thought rates would start to head higher. This down trend is perfect timing for the housing market and is really the true stimulus, an unforced natural effect of the “market place”. So unlike government interference and programs that cost so much money.

Buyers and sellers should take notice, do some math and figure out just how much money they can save.

Enjoy the deck and water view.

Location is the key to this property. Not to mention the level entry that you don’t always find with Eastman Condos.

There has also been some significant upgrades. The kitchen has been completely renovated and redesigned. Add the oak wood floors and newer carpets and you have a move in condition condo where you can just relax and enjoy the view.

If you would like more info on the spectacular condo, please email me at jeffadie@gmail.com

Although the sales numbers for condos are down so far this year we are starting to see some activity that wasn’t there just a few weeks ago.

There has been four condo sales this year, not a lot! Three of those sales took place in January and February and the fourth in June.

Recently however we’ve received calls on condos from print ad’s and web hit’s are up. A few good waterfront units just came to market, at what seem to be attractive prices. Several showings have taken place and one unit went under agreement.

It’s not a lot but comparing this to what was happening earlier this year, I am encouraged. The news out of Wall St. last week was very positive and earnings seem to be strong. As the stock market rises, the vacation home buyer (condos core buyer) will return and I believe we will finish the year on a strong note. I don’t want to hinge condo sales on a strong stock market but it certainly helps. A stable or climbing market is never a bad thing and will help the second home market.