Buying a home? Take your pick
By Amylynne Baker-Santagate
WindhamLife Writer
Around every corner it seems there am more and more houses for sale in town. On Kendall Pond Road four homes within a mile went up for sale within just a few weeks of each other. Many are wondering what is happening with the market and Windham in particular.
“The market is stable and secure in Windham. Houses are selling; it’s just that they are taking longer to sell” explained Windham resident Janos Kovacs of Prudential Verani Real Estate.
Windham resident and real estate agent Janos Kovacs says Windham homes, like the one he represents here on Heritage Hill, are staying on the market longer. From January to June of this year only Rockingham County posted a gain (4 percent) of home sales. The state averaged a 9 percent decrease. Photo by Amylynne Baker-Santagate
“Windham is actually very fortunate because there is a broad area of price ranges available, where in Londonderry the majority of houses are in one price bracket. For example, Windham has approximately 30 to 35 houses available in hundred thousand ranges from $300,000 up to $700,000 where Londonderry has one large spike in their listed homes in the $300,000 to $400,000 range.”
Regionally, Windham continues to have many of the most expensive homes. The highest price home in Windham is a $1,936,000 home on Heritage Hill; the most expensive home in Hudson is $679,000 and the highest price tag in Londonderry is $749,900.
“There are also seasonal trends,” says Janos. “Listings always increase in the spring. The monthly total of new listings is about the same as it always is for this time of year.”
With the exception of Salem and Derry, Windham has more homes on the market than any surrounding town.
While the numbers change daily, one recent July day saw 184 Windham single family homes for sale, not including condos and For-Sale-By-Owners (FSBO’s). Only the more populous Salem and Derry had more with 218 and 243 respectively.
It’s an extraordianary difference from Atkinson where just 47 homes are for sale.
Paul Redmond of ERA Masiello in Windham explained that new construction makes the difference.
“Atkinson has a smaller amount of new construction. In Windham there are 67, versus three in Atkinson,” he says. “It wouldn’t shock me to find that there are 150 buildable lots in Windham. They’ve approved a lot of stuff.”
“The market is definitely slower. Things are picking up, but there’s an over-abundance of properties (for sale) in this town,” says Paul, a 23-year veteran of real estate. “Homes have to be priced right. This is my third re-adjustment of the market. Prices were artificially high. The national Association of Realtors says prices will stop dropping off by the middle of next year.”
And while it is a buyer’s market Janos says, “The sellers need to take a deep breath, be patient, and say to themselves `No, I don’t have to give it away.’ Buyers have a lot to choose from, and sellers really need to be serious about selling. They have to be willing to hang in there for six months or in some cases a year.”
“On the other hand, houses are being sold faster for the sellers who price their houses aggressively. A seller who can’t wait should look at the price range they are in and price accordingly. There are quick sales out there. It can be done.”
In May of 2007, 24 houses in Windham were sold compared to the 14 that were sold in May of 2006.
There are three trends as to why people are buying and selling in town, according to Janos. “First, local families from Windham are moving to bigger homes in Windham. Generally they have children and want to stay for the new high school,” says Janos. “They are selling one home in town and purchasing another. They also are the ones most immune to slow/small changes in the market, because they are on both sides.”
“Second, there are the older generations without young children. This group is often deciding to live up North, buy a condo or buy a place in Florida. Third are the buyers who continue to relocate from Massachusetts and other parts of the country. New Hampshire is becoming a more and more popular place to live.
Realtors who spoke with WindhamLife agree the downside of Windham’s market began in the fall of 2004, but at the same time this has created a much more balanced and stable market in the town market over the years.
“We’re actually right where we should be,” says Janos.
As the prices of homes slid, mortgage rates rose. But not sharply.
Says broker Debbie Mackenzie of Windham, “People get nervous when they see mortgage rates are up a bit, but historically they are still at a low. This is the best time to buy. Most sellers don’t want to see their homes on the market in the winter. I know people are waiting for the prices to go lower, but they won’t stay low much longer.”
Single family
homes for
sale on
July 16, 2007
| Pelham 130
Plaistow 37 Hampstead……..82 |
|
| Atkinson | 47 |
| Hudson | 143 |
| Londonderry .’.T. … | 165 |
| Derry | 243 |
| Windham | 184 |
| Salem. | 218 |
Adopted by permission from WindhamLife Magazine, August 2007
MLScast 