The first thing to consider is how long you might stay where you are. Making many major, costly improvements wouldn’t make a lot of sense if you’re planning to sell in the near future. Potential Buyers of your home may not care for your improvement choices, and remodeling often creates a lot of turmoil while being done. The biggest benefit from improvements is that they are something that you want―you should enjoy them when they are completed.

There are many improvements that will add to your homes resale value down the road. Set goals for the repairs you want to do. Traditionally the following remodeling projects that add the most value are kitchen and bath improvements, adding a new family room or bedroom, and painting or siding the exterior of your home.

Remodeling Magazine, www.remodeling.hw.net, facts and figures section reports that overall, projects do not recoup their initial cost when sold. This information can be found in their Cost Vs. Value report.

From a financial view point, investigate how your planned improvements will increase the value of your home. Your home could actually take longer to sell in the future if it’s in the “upper end” of the available properties in your neighborhood. Historically, buyers choose the least expensive home in the most expensive neighborhood that they can afford. Homeowners that are thinking of selling should concentrate on changes that will make their home stand out in a market that has a lot of inventory.

Move or Improve? This is a question to be dealt with on both an emotional and financial level. Your home is an investment in your future, where you should be happy to raise your family. A remodeling project should increase your enjoyment in your home while you are living there, and help increase the resale value of your home.

If you plan to sell your home and there are some repairs that need to be made such as fixing a hole in a wall, painting, replacing torn carpeting, or other defects, take care of these yourself or have a professional do them. Typically, repairs will have to be made prior to closing on the property, and the cost can be as much as double what it would be if they’re fixed beforehand. If you don’t have the money for the repairs, get an estimate or two, and show that you’ve accounted for these prior to placing your home on the market. Talk to a Realtor. They can help you determine which improvements could make your home easy to sell.

North Conway may be less well known than many of the towns on this list, but only a few towns in North America can rival its skiing heritage. Tucked into Mount Washington Valley in the White Mountains, some of the first purpose-cut ski runs on the continent and a host of other innovations in grooming, lifts, and ski schools were developed here in the 1930s. North Conway was one of the leading lights in American skiing for decades before Western resorts rose to prominence. Much of that old New England character lives on today in the town of 2,349, where skiing is still tightly woven into the small community’s social fabric.

This may have something to do with the fact that there are no less than seven different downhill areas with an easy drive of town (and six Nordic ones). Visitors here will likely focus on three. Cranmore sits two miles from the main village. It’s an excellent starting point for families, with its revered ski school and abundant non-skiing activities, including indoor tennis, climbing walls, on-mountain tubing, and a plummeting rail-coaster ride. Attitash, seven miles up the valley, is the biggest of the bunch, with 73 runs and the region’s best terrain park. No-frills, expert-friendly Wildcat, a half-hour drive, is the wildest, tallest mountain of the three, with the most vertical and spectacular views of nearby Mount Washington, the highest peak in the Northeast. Wildcat and Attitash now share the same owners and feature interchangeable lift tickets, so if the weather is belligerent at Wildcat, which is not uncommon, you can skip 16 miles over to the more sheltered Attitash.

It’s fantastic that a magazine like National Geographic took the time to recognize the heritage, beauty and importance of North Conway and the Mount Washington Valley in relation to skiing!

First, determine how much more you may be able to afford. Interest rates are at historic lows. If you haven’t refinanced in several years, you may be able to get more home for the same money you’re presently paying now. Interest rates are currently at about 4%. If your current loan is at 6% or even more, that could make a big difference in your current borrowing power . A $200,000, 30-year loan costs $1,199/month at 6 percent interest. At 4 percent, that same loan only costs $954. That’s nearly $250 less per month. You could actually buy a home for $50,000 more with a slightly lower monthly payment than you currently have now . Of course, if you don’t want to move, you might want to consider a refinance of your current home.

Another housing expense you want to take into account are your real estate taxes on your current home . From town to town in our valley real estate taxes can vary to a considerable degree. Taxes in the Mount Washington Valley and Western Maine can range from $9.15 per 1000 dollars evaluation to as much as $ 21.78 dollars per thousand . On a $200,000 home, taxes alone could range from $1,830/year to $4,500 /year. If you live in a town with the highest tax rate, you’re paying $2,526 more per year, or over $200/month more than the town with the lowest rate. That can give you a lot more borrowing power without increasing your monthly housing expenses. Compare the homes first, then compare the taxes.

Moving up doesn’t necessarily mean buying a larger home. You could buy a home in a more convenient location for your family needs, or have a mountain view, more privacy, better amenities, or a higher quality home. In our valley mid-range homes have been discounted substantially more than starter homes and there is a better selection too. In a stronger market, mid-range homes sell for substantially more. Moving to a home in the $225,000 and up range in this area generally means a substantial discount in value when compared to starter homes.

To take advantage of the opportunities in a down market, it’s time to look at your loan, your taxes, and properties that are in slower moving price ranges 225K to 400K . It’s the same opportunity you’ve always heard: “Buy when everyone’s selling. Sell when everyone’s buying.” As you can see, our present real estate market may provide you an opportunity to improve your long term equity position and have a nicer home to enjoy too, especially if you have an older loan and live in a higher tax-rate area. Even if you don’t, there are plenty of deals out there.

When buying a home, you should be aware of some of the changing factors that add value to a home. Energy efficiency is becoming very important and quality has become more important than size. These homes can save you money in heating, cooling and maintenance costs, as well as improving the comfort of your new home. Is it time to start looking at your options?

When the median homes price is low for any given area, there are many potential causes that are unrelated to true home values. For instance, during a slow market, or season, most sales may occur in the entry level range of homes. Just because a large number of fixer uppers, foreclosures and mobile homes have sold during a given period does not mean that the average family home has lost substantial value. It means that most buyers are looking for low end properties. Again, the median sales price reflects a trend, not the value of any particular home.

Similarly, when a high number of upper end home sales occur in a particular area, that does not mean that prices have gone through the roof. It simply means that more people have bought higher end homes.

Do not, however, ignore median home price trends. If most sales are on the lower end of the spectrum, that generally means there’s less competition for mid-range and luxury homes. For example, if there are 20 homes on the market in the $300,000 price range, and 2 buyers per month purchase a home in this price range, then it will take an average of 10 months to find a buyer, given that all of these homes are of the same general quality. Those who need to sell will reduce the prices on their homes, or improve the value. The best valued homes will sell first. The least valued homes may not sell at all. Sellers must compete for buyers.

In a recovering market, where most entry level homes have already sold, there’s generally a push to move upward, into a more substantial home. Many families have either outgrown their home, or have made improvements over time and would like a better home. This increases the demand for mid-range and luxury homes, and is an indicator of the market heating up. When selling a mid-range or luxury home, after this point and before the peak of the market is the best time to sell for those who plan to downsize, or rent. In contrast, if your plan is to move up to a larger home in the same area, a slow market may offer better opportunities as most buyers are competing for entry-level homes. You’ll have greater bargaining power if you’re moving into higher price range.

Another commonly used measurement of market trends is the Average Sales Price. This is where the total dollar amount of sales is divided by the number of homes sold. This can be skewed as well. If, for instance, the multi-million dollar mansion in town that sells every 20 years or so is sold during a given period, the average home sale price will be very high.

Several factors can have a very distinct effect on the value of homes in a given market. Employment and incomes have a direct influence on home values. High employment increases value. High income levels increase values even more. As you’ve always heard, location has a direct influence on value. Homes by the ocean, lakes, mountains, and many urban developments are often in greater demand and command more value. Where location is the driving influence, everything counts: excellent schools, low crime, desirable locations and neighborhoods.

To get a realistic idea of the value of your home, a real estate agent will conduct a Comparative Market Analysis (CMA). This will compare your property to homes that have already sold. This is important because you may need this information if an appraiser comes up with a lower figure for the value of your home. In a CMA, your property will also be compared to similar properties that are currently on the market. This will give you substantial insight into the properties your home must compete with.

If you’re looking to get a true reflection of your property’s market value, contact a Realtor. Realtors rarely charge for a Comparative Market Analysis when you’re looking to put your property on the market. If the price meets your needs, and fits into your plans, your agent can usually get your property on the market very quickly.

For most people, deciding to purchase a home is the largest financial decision of their lifetime. Before making the jump into homeownership, potential home buyers should consider the “soft” lifestyle issues as well as the “hard” financial ones. The professionals at Coldwell Banker Wright Realty have provided the following four financial and lifestyle questions to consider when determining if buying a home is the right decision for you:

1. Do you have a steady income? At or near the top of every potential homebuyer’s mind is whether or not they can afford to buy a home right now. Buying a home remains a sound financial decision for those with documented income and a good credit history, and a steady income can provide a strong backbone for the initial down payment and future mortgage payments. The “Affordability Radar” tool on coldwellbanker.com is a great way to begin this planning and assess “how much home you can afford.  Don’t hesitate to speak with a real estate professional even before you’re ready to buy a home. Along with a financial planner, a real estate professional can help you answer and uncover questions about the cost of homeownership.

1. Do you plan to stay in a home for an extended period of time? With proper planning, a home purchase has historically proven to be one of the strongest investments one can make. Along those lines, it’s imperative to understand that investing in a home is much different than investing in a stock portfolio. Homes typically appreciate in value over time while the owner builds his or her equity through monthly mortgage payments. If you anticipate staying in a home for only one or two years, it doesn’t necessarily mean buying is not for you, but you are less likely to see a significant financial return on your investment.

1. Do you plan to sell a house in order to buy a house? A local real estate professional can help you understand current local market conditions and will help you make smart decisions when listing a home on the market. If you do not currently own a home that needs to be sold prior to purchasing a new one, now is a particularly smart time to buy. Even with lenders becoming increasingly more thorough in their approval process, mortgage financing is still widely available for those with a steady income and solid credit. High inventories and low interest rates give first-time homebuyers a tremendous amount of opportunity and flexibility in markets across the U.S.

1. How do your other options compare? For renters, calculating month-to-month housing expenses is as easy as inquiring about the monthly rent and average utilities. The calculation gets a bit more complicated when considering the monthly cost of owning a home. A real estate professional can help you understand a range of financial considerations from annual property taxes to the tax incentives for owning a home.

 There is no one right decision when it comes to renting versus buying a home.Each individual should take the time to look at their personal and financial situation to decide what will work best for their needs and lifestyle.

The two best selling price ranges were $120,000 – $139,999 and $250,000 – $299,999.  This would suggest that first-time homebuyers are becoming very active in the low range. Move up buyers are becoming most active for homes just under $300,000. In the luxury homes market, the $700K – $800K range was most active.

More than half of all homes sold used conventional loans. Just under 1/3 of all existing home sales were cash deals, which is quite a high percentage. Just a few homes sold with VA, FHA and other loan types.

Box it up. Most people pack up after they sell the house, but why wait? Sellers should start packing as early as possible—ideally, before they put the home on the market.

Show off the laundry space. Buyers will be impressed if the laundry room is fresh, inviting, and organized. Make sure light bulbs are working, and hide soaps in a cupboard or line them neatly on a shelf.

Focus their attention. Pick a focal point for each room. For example, the focal point of a bedroom is usually the bed, and for a music room, it’s the piano. If a room is mostly empty, you can help draw attention to a corner with a plant or mirror.

But there’s much more. Tracey gives expert advice on:

• Floors
• Lighting
• Painting

Here’s the full article. If you are all ready, fill out our form where we sell New Hampshire or Maine real estate.

We thought there was something strange about it being called the “auto” road way back when. It was originally called the Mount Washington Carriage Road. For more information about the “auto road” and the 150 year anniversary, visit mtwashingtonautoroad.com.

New Hampshire will fare well also according to HousingPredictor.com: “Stoked by better employment than in most other areas of the country and record international exports, the New Hampshire economy is eyeing the New Year with an optimism not seen in many areas of the U.S. That’s not to say the state is out of the woods yet in the financial crisis, but it’s driving a recovery in housing markets.”

All in all, it looks like the White Mountains and Western Maine will see a turnaround this year if HousingPredictor.com is on the money.

AARP

If you’re looking for a luxury mountain home to buy in the Mount Washington Valley, here’s the perfect place to stay and set the tone.