Windham NH New Construction: only one third of homes for sale are real

Have you already missed the bottom of the real estate market? 46 of the 69 new homes on the market in Windham New Hampshire are to be constructed. As existing inventory of houses built in 2006-2007 has been selling off, only 23 ready-to-move-in homes remain on the market.

By Mr. Janos, realtor Windham NH, 603-438-9134

New construction has shifted to custom homes, houses built to order. Financing for spec homes (homes built on speculation) has dried up, land loans are nearly impossible to get. First time home buyers may have difficulty securing a new construction loan and jumbo mortgages, non-conforming no-doc loans may become a thing of past.

 New construction home by Delbar Builders: ready to move in

 

As a result, the standing inventory of new construction homes ready for occupancy has been dropping along with applications for new permits to build. Diminishing supply is usually a precursor to prices firming and eventually going up. If you are in the market now, you may want to pick the home that best suits for needs and lock in today’s price and mortgage rates.

Why is new construction the best deal?

Builders have reduced costs and are willing to accept less profit. They are also able to negotiate lower land prices and sub-contractor fees. Although construction material costs have risen along with gas prices, homebuilders can undercut existing property prices.

Sellers who purchased their house at the peak of the market are not able to match these prices because they don’t have enough equity. The market has reversed: new construction homes are less expensive than resale homes.

 How can consumers save money with new construction?

Most of the “real” new construction homes in Windham area ready for move in 30-60 days, allowing buyers to select options, flooring, kitchen cabinets and pay only for the extras they actually need. Why pay for things that the original owner of a house wanted but you don’t care for?

 Open floorplan, state of the art kitchen with granite countertops

 

New homes built in 2006-2007 come with many features included: automatic sprinkler system for lawn irrigation, security system with CO and fire sensors for reduced home insurance rates are just a few examples. The construction materials, methods are state of the art and these homes typically offer a one-year warranty.

  Less maintenance means more vacation and free time.

All systems, roof, appliances are new; no major replacement expenses or projects for every weekend – take the money and go on vacation instead.

Low maintenance vinyl siding, windows, composite materials used for decks (instead of pressure treated wood with Arsenic content) eliminate painting and staining. Cleaner, more efficient gas furnace, central AC, high-grade insulation and windows reduce heating costs.

New construction homes in Windham are upscale and come with central everything: heat, AC, VAC, alarm, irrigation system, leaving cutting the grass as the only chore and even that can be “outsourced”.

 Silver lining for resale homes:

Once the standing inventory of new construction houses clears up, existing homes become the logical choice for relocation buyers. Also, consumers who can’t afford to wait out the 3-4 months construction period or are not willing to face the challenges of the home building process, will chose resale properties.

Buying a home? – Windham NH real estate update

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

Heritage Heights New Construction: Home for Sale in Windham NH

Heritage Hill, Windham NH, New Hampshire: new construction fine home with mountain views. Nestled atop a gentle hillside in the Woods of Windham, the architectural distinction of the West has arrived to New Hampshire luxury real estate: “The Colorado” is an over 6,800 sqft mansion boasting a stunning stone and stucco exterior.

This distinctive colonial home with grand proportions presides over 2.6 acres of wooded land. The lot is situated at the highest elevation of Heritage Heights in Windham, and offers sweeping views of the mountains in the distance. It is the last remaining parcel that allows the home to be placed with a perfect angle on this inspiring vista.

A long tree-lined driveway highlights the approach to a stone walled motor court. The carport can accomodate two vehicles and is unique to this home; no other property in the neighborhood offers this awe-inspiring approach. Arriving visitors will be sheltered by the terrace above. The wrap-around porch with round pillars further enhances the architectural substance of this elegant home.

The owners of this fine home will enjoy an open floor plan that is appointed with every luxury and amenity.

Over one third of the first floor is taken up by the formal dining room, pantry, wet bar, kitchen and eating area with a curved wall of glass towards the outside. In the dining room detailed millwork and a tray ceiling gives the space architectural distinction. Left of the foyer a study / library room offers peace and solitude for quiet reading or music. Across the entry past the curving staircase the formal living room with cofferd ceiling awaits hours of lively conversations. The windows on the left and the bow window in the rear bring in shimmering views of distant mountains.

A double-sided fireplace joins the living room and the 24×20 family room area in the center of the first floor living space. A two-story wall of glass in the family room provides sweeping views of the outdoors. Extensive stonework make the fireplace and the connecting arched doorway another focal point. The family room is open towards the kitchen area. The curved main staircase with rounded wrought iron railing anchors this room perfectly.

The second staircase next to the loundry area leads to the guest bedroom suite and playroom upstairs to the left and a balcony overlooking the 2-story family room below on the right. All bedrooms have a full bath and walk-in closets. In addition, each of the children’s bedrooms have a separate study and access to a terrace.

The owners enter the front to back master bedroom suite through a sitting area. A double sided fireplace connects the sitting area and the bedroom with tray ceilings. The lushly appointed master bath with a two person glass-enclosed shower can be accessed from the dressing room and the bedroom as well. A large stained glass window assures privacy. Similarly to the living room below, the master bedroom too is uptimally oriented to bring in the view of glorious sunsets through the windows on the left and the bow window in the rear. The master bedroom has exclusive use of a wrap-around terrace for those romantic evenings.

Generous builder’s allowances for kitchen, flooring and other upgrades give room for the buyer’s creativity to express their vision. Masterful woodwork and trim animate this house with museum quality detail that will provide lifelong enjoyment and the admiration of all.

View Visual Tour

 

New construction 4 bedroom colonial home: Windham NH Castle Reach house for sale by Mr Janos

Castle Reach, Windham NH, New Hampshire: NEW hip-roof four bedroom colonial home with Portico entry, impressive 2 story foyer in prestigious Castle Reach phase III development. This new construction home is not only for sale but it is ready to move in today and you can select your carpeting and appliances now.

The corner lot is beautifully landscaped with curved retaining walls, lots of plants, shrubs and lush grass. A Y-shaped brick walkway leads visitors to the impressive portico entry with balcony. This colonial’s stately appearance is enhanced by 10 feet wide fieldstone steps to the front door with side lights and lanterns on either side.  

Your guests will be awed by the 16 x 9 feet two story foyer as light pours in through the arched Palladian window above. Since the front of the house enjoys a southern exposure, the turned oak staircase with curved railing becomes the focal point of this grand entry.

You won’t find too many other homes for sale at this price with these features in the Castle Reach area. This home is offered at a $544,900 list price which is nearly $20,000 below the $563,800 assessed value on the Windham town tax card. As this house sits on a corner lot, the privacy of this property makes it one of the most desirable real estates in this new construction subdivision.

Gleaming hardwood floors will guide your steps through the living room and a French door to the large 21 x 12 feet eat-in kitchen. Extra tall cabinets and built-in pantry provide ample space for all appliances and food supplies. A center island sits on tiled floors, and the generous counter space is lit up by light pouring down from a large number of recessed eyeball fixtures. You still have full control over choosing your appliances here if you act now.

Another set of French doors allow you to enjoy outdoor cooking activities on the large deck off the eat-in area. Through the handmade posts and spindles the deck overlooks a private backyard. When the trees fill in you probably won’t see any of your neighbors. The formal dining room with tray ceilings is just steps away from the kitchen and overlooks the stylish curved oak railing in the foyer.

Across the hallway from the dining room there is a den / guest room with a closet and plenty of recessed lighting. In addition to setting up your home office, if you like to take a quick snooze after a long feast or have little people in need of a nap, this might be the perfect spot.

Even from here you can see the impressive family room spanning the space above the two car garage. A large Palladian window towards the street side, two other windows overlooking the driveway and a French door to the second deck of the house will lit up the cathedral ceiling in this room. Outside, decorative lanterns on either side of the French door create ambiance on those quiet evenings.

Upstairs you will find four well-proportioned four bedrooms, including a master bedroom with recessed lights hidden in the tray ceiling. A luxurious 27 inches deep jetted tub awaits you in the master bathroom, which also offers a spacious NeoAngle corner shower for those hurried mornings. Extensive tile work with Italian rope molding decorates the bathtub area. You are just in time to choose your carpet from the available samples to decorate the 4 bedrooms and make this home yours.

The attic for extra storage can be accessed from one of the bedrooms. You will also appreciate the convenience of central VAC outlets everywhere. All rooms are internet ready, have CAT5 wiring and LAN outlets. The full basement is presently unfinished, 8 foot ceilings and a French door to the backyard would make it an excellent choice for future expansion.

This solidly crafted home offers many unique features. Next to the side entry on the left of this hip-roof colonial, a first floor laundry with a large closet provides room for coats, clean laundry, and takes care of the little muddy feet problem without having to wade through the garage. The adjoining half bath has a privacy door and a programmable fan.

The extra deep 2 car garage has its own direct entry in the rear of the house and decorative garage doors with top lights. The floors are extremely firm, in addition to LVT beams used as floor joices, a unique double framing structure takes all bounce out as you walk or your kids run around this house.

In this “smart house” a built-in Venmar air filtration system maintains superior air quality and microprocessor controlled tank-less water heater technology guarantees that you never run out of hot water here.

An exceptional 10 year warranty is offered on major components of this 4 br hip-roof colonial, making home ownership not only enjoyable but worry free as well. Low maintenance vinyl siding, windows and metal-wrapped trim add even more quality to this nearly 3,000 sqft new construction house in NH.

In addition to the large front yard and private backyard, you can enjoy even more recreational activities on the non-buildable open space that abuts this lot. As you drive by the apple orchards and the stone walls of Searls Castle on your way to exit 3 of I93, you will appreciate the easy commute that makes this new construction colonial home in the premier Castle Reach community a very desirable property to own in Windham New Hampshire.

click for Visual Tour here