Portsmouth NH Homes and Condos – April 2009 Market Update

Portsmouth New Hampshire Real Estate Market Update for April 2009

Everyone loves real estate and loves to know what’s going on in the marketplace, at least that’s how it seems!

How did we do in Portsmouth NH homes and condos for April?

Portsmouth NH Homes – April 2009 Real Estate Market Update:

• Portsmouth Homes listed for sale –  20 homes came on the market in April

• Sale pending  –  12 homes went sale pending in April

• Expired listings  –  9 homes expired from the market without selling

• Homes Sold  –  9 homes sold during April

For those homes that came on the real estate market in Portsmouth during April, the average asking price was $705,084.  The average asking price of all the homes currently for sale in Portsmouth is $494,751, and the average days on the market is 121 days.

Portsmouth NH homes that were sale pending in April had an average asking price of $343,211, and the average days on the market for those homes was 67 days on the market.

Homes sold in Portsmouth during April had an average selling price of $346,556, and an average asking price of $357,511.  Those homes took an average of 181 days to sell.  Sellers of those homes that sold received, on average, 97% of their last asking price.

Portsmouth NH Condos – April 2009 Real Estate Market Update:

• Portsmouth Condos listed for sale –  23 condos came on the market for sale

• Sale Pending  –  9 condos went sale pending in April

• Expired Listings  –  14 condos expired from the market without selling

• Sold Condos  –  16 Portsmouth condos sold during April

The average asking price of those Portsmouth condos that were listed for sale in April was $516,930, and the average asking price for all condos for sale in Portsmouth is $458,145. The average days on the market for this condos is 150 days.

Portsmouth NH condos that went under agreement/sale pending during April had an average asking price of 314,475, with an average days on the market of 90 days.

Condos sold in Portsmouth during April had an average selling price of $219,813.  The average asking price of those condos that sold was $303,825.  The condos that sold took an average of 175 days to sell.  Sellers of those sold condos received, on average, 96% of their last asking price.

To compare how April’s Portsmouth’s real estate activity was  with the 1st quarter activity, be sure to check out “Portsmouth NH Homes Sold Activity – 1st Quarter 2009“

If you’re interested in buying or selling homes or condos in the Portsmouth NH real estate market, let me know. I love helping people achieve their real estate goals!

Do you have comments or questions about the Portsmouth NH real estate market?  Please feel free to leave a comment – I’d love to hear from you!

Give me a call or send me an email, and let’s get started!!

Servicing the New Hampshire towns of Portsmouth, Newcastle,
Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington,
Dover, Durham and surrounding areas, and the Maine towns of Kittery,
Kittery Point, Eliot, South Berwick, York, and surrounding areas.

Send me an email or give me a call at 1-888-349-5678 ext 3839.

“Based on information from the Northern New England Real Estate Network, Inc. for the period April 1, 2009 through April 30, 2009.”

At HOME in Portsmouth New Hampshire

Portsmouth NH – A GREAT Place to Call HOME!

It’s really very easy to fall in love with Portsmouth New Hampshire, and the whole NH and Maine Seacoast area! We have so much to offer both residents and visitors alike.

It’s really very easy to fall in love with Portsmouth New Hampshire, and the whole NH and Maine Seacoast area!

We have so much to offer both residents and visitors alike.  As a matter of fact, many buyers I’ve worked with over time initially came here as visitors, returning again and again, and then decided to make Portsmouth their primary home.

And it’s no surprise they do, if you ask me!  

Five GREAT reasons to make Portsmouth YOUR home:

~~  Portsmouth has a terrific location!

We are right here on the coast of New Hampshire, just 45 minutes south of Portland Maine and 45 minutes north of Boston, Mass.  The closest snow skiing is an easy 30-40 minute drive to Gunstock Ski Mountain.  The coast, with our beautiful beaches and Atlantic Ocean, is right here at our doorstep.   We’ve got great highway access for all major commuter routes, airports in 3 cities are less than an hour’s drive and we have a small airport right here in Portsmouth, Amtrak rail service is just 15 minutes away.

~~  Portsmouth is just full of all kinds of things to do year-round!

We’ve got parks, multiple theaters and venues for all kinds of productions – plays, musicals, concerts, etc.  Loads of shopping abounds all over the place, and we’ve got just about every kind of dining right here in Portsmouth that you can think of!  Spring through Fall, our Seacoast Farmer’s Market runs every Saturday - a great place to buy fresh local produce, make new friends, and meet up with old friends.

~~  Portsmouth has great schools!

And those great schools include a beautifully renovated and expanded high school.  We have 3 wonderful elementary schools, serving the various neighborhoods around town.  And to add to all that our schools have to offer, we have a brand new beautiful library right next door to the Middle School.  In addition to our great schools right here, we’re only a few minutes away from the University of New Hampshire, located in Durham.  UNH has one of the prettiest college campuses you’ll ever see!

~~  Portsmouth offers great housing opportunities!

And we’ve got homes of all kinds, with a home to fit everyone’s needs.  Being in New England, we have all kinds of antique homes as well as lovely new construction homes, and everything in between.  We’ve got great condos – both conversions as well as newly built, in all price ranges.  We have plenty of homes for buyers to choose from, and with today’s interest rates what they are & prices a little lower than they were last year, it’s a GREAT time to be a buyer!

~~  Portsmouth’s economic environment is great!

We’ve got many great businesses here in Portsmouth and the surrounding areas.  Over the last few years, a number of high-tech businesses have relocated to this area, causing this area to be dubbed the “e-Coast“.  Our downtown area has free wireless set up, a perfect environment for businesses and business people who love being downtown.  They are looking into expanding this further to encompass more of the downtown area as well going into some of the neighborhoods close to downtown.  Plus here in New Hampshire, we have NO income tax nor do we have a sales tax!!

There are so many other reasons to convince you Portsmouth is a great place to call home – you just have to come see for yourself why so many of us just love making our homes in Portsmouth!

Come to visit – come to STAY because you’ll want to make Portsmouth New Hampshire YOUR home!

Once you’re here, this area just makes you fall in love with it, and this just helps to make my job as your Portsmouth NH REALTOR that much more enjoyable to ensure you have as smooth a move as possible!

If you’re interested in buying or selling homes or condos in the Portsmouth NH real estate market, let me know.  I love helping people achieve their real estate goals!

Give me a call or send me an email, and let’s get started!!

Servicing the New Hampshire towns of Portsmouth, Newcastle,
Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington,
Dover, Durham and surrounding areas, and the Maine towns of Kittery,
Kittery Point, Eliot, South Berwick, York, and surrounding areas.

Send me an email or give me a call at 1-888-349-5678 ext 3839.

Portsmouth NH Homes – An Insulated Real Estate Market

Portsmouth New Hampshire real estate has fared far better than most of the country when it comes to foreclosures and median sales prices.

The years 2006 through 2008 have shown very little change in the number of foreclosures in Portsmouth NH, and has shown fairly stable median selling prices as well.  Several towns in the immediate Portsmouth area have actually shown an increase in the median sales prices in that time frame.

“Portsmouth is unique to the area.  It has pretty much remained strong throughout all of this.  They suffered a little, but for the most part Portsmouth is sort of an anomaly.  They set their own trends.”

This was quoted from the Portsmouth Herald, in an article in today’s Sunday Portsmouth Herald, “Portsmouth Bucks Nationwide Foreclosure Trend“.

Portsmouth NH’s unemployment rate has remained low, compared to unemployment rates around the nation.  The January rate was 4.8%, and the state rate was 5.7% with the county, Rockingham County, showing an unemployment rate of 6.1%.  The nationwide unemployment rate was 8.5%.

The foreclosure numbers for homes in Portsmouth were as follows:

• 2006   10 foreclosures
• 2007   14 foreclosures
• 2008   13 foreclosures

The median sales prices for Portsmouth NH homes for 2006 and 2008:

• 2006    $327,500
• 2008    $325,000

The above numbers are sourced from The Portsmouth Herald, and the City of Portsmouth.
These numbers show that those who live in Portsmouth NH have fared better than most not only in the nation but around the state as well.   We do live in a fabulous place!
Are you looking to buy or sell real estate here in the Portsmouth NH area?  If so, send me an email or give me a call – I’d love to talk to you about the real estate market and your interest in buying or selling here in the Portsmouth NH real estate homes market!

Servicing the New Hampshire towns of Portsmouth, Newcastle,
Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington,
Dover, Durham and surrounding areas, and the Maine towns of Kittery,
Kittery Point, Eliot, South Berwick, York, and surrounding areas.

Home Mortgage Modification Information

Portsmouth NH Homeowners – Looking for Mortgage Modification Information?

Homeowners in the Portsmouth NH area, and all across the country, in need of some relief on their mortgages may find some hope and help in the latest housing plan to come out of the “Making Home Affordable” program.

If you find you can’t afford your home  mortgage, you may be eligible for modification of your home/condo mortgage.  There are qualifications to be eligible, and you don’t qualify if you can afford your home mortgage and just are looking for help to get a lower rate.

Some of the criteria used to determine eligibility are as follows:

• The mortgage must be on your primary residence;

• You must live in your home;

• The balance on your mortgage must be less than $729,750 for a single family home or condo;

• If you’re already in foreclosure proceedings, you may still qualify.

To read more about the eligibility details, read this article on the ‘Making Home Affordable Plan”.

Once it’s been determined you’re qualified for your mortgage to be modified, the mortgage servicer will then determine what it will take to be able to reduce your monthly mortgage payment to 31% of your monthly income.

The lender involved in working with you to adjust your monthly housing payment will do what it takes to get your payment to that 31% payment.  Your housing payment includes the principal, interest, property taxes, homeowners insurance payment, and any condo or association dues.  If you have a mortgage insurance premium payment in your current payment, that portion will not be included in the new payment plan.

Lowering the monthly payments to the 31% level will be accomplished in a variety of ways – lowering the interest rate to as low as 2%, stretching out the length of the mortgage to as much as 40 years, or restructuring the principal amount so that only part of it has interest being paid on it.

No matter how the payment is reduced, it will not alleviate the amount you actually owe.  This housing plan is reducing your payments for you for five (5) years, not the life of the loan.  That part of the plan doesn’t get talked about as much as the other parts of the plan have been.  At the end of this five year term, the rates increase by 1% each year until the rate is about equal to the current rate at that time.

If you’re interested in finding out if you qualify for a mortgage modification, contact your mortgage lender directly.

Are you looking to buy or sell real estate here in the Portsmouth NH area?  If so, send me an email or give me a call – I’d love to talk to you about the real estate market and your interest in buying or selling here in the Portsmouth NH real estate homes market!

Servicing the New Hampshire towns of Portsmouth, Newcastle,
Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington,
Dover, Durham and surrounding areas, and the Maine towns of Kittery,
Kittery Point, Eliot, South Berwick, York, and surrounding areas.

Portsmouth NH Homes Condos – 2008 Market Recap

Portsmouth NH Homes and Condos -
2008 Real Estate Market Recap

Portsmouth NH homes and condos real estate market activity was up and down throughout the year during 2008.  The strongest amount of activity in both homes and condos was late spring into the summer, for both homes and condos listed for sale on the market and homes and condos sold.

Portsmouth New Hampshire Homes – 2008 Activity:

• 231 homes were listed for sale during 2008
• 126 homes sold during 2008
• $354,365 was the average selling price of Portsmouth homes during 2008
• 107 days was the average number of days it took to sell those homes that sold during 2008
• 96% was the amount that sellers, on average, received of their last asking price during 2008

The chart below shows the Portsmouth NH Homes activity – homes for sale and homes sold – for 2008

Portsmouth New Hampshire Condos – 2008 Activity:

• 237 Portsmouth condos were listed for sale during 2008
• 131 condos were sold during 2008
• $328,328 was the average selling price of Portsmouth NH condos during 2008
• 128 days was the average amount of time it took to sell those condos that sold during 2008
• 96% was the average amount sellers received of their last asking price during 2008

The chart below shows the Portsmouth NH Condos activity – condos for sale and condos sold – for 2008

Portsmouth New Hampshire is a beautiful coastal town, a working port, and has much to offer anyone interested in living here.  If you’re interested in exploring the real estate market here in Portsmouth, either as buyers or sellers, send me an email or give me a call at 1-888-349-5678 x 3839.

I’d love to help you with your real estate goals!

Related Reading:

• Seacoast NH and Maine Real Estate Market Reports
• Absorption Rates and Why They’re Important to Know

Servicing the New Hampshire towns of Portsmouth, Newcastle, Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington, Dover, Durham and surrounding areas, and the Maine towns of Kittery, Kittery Point, Eliot, South Berwick, York, and surrounding areas.