Now that the winter season has rolled around, you might be afraid that you will have a hard time selling your New Hampshire home (especially with the threat of snow storms), but the trick is in how you advertise it.

The first way you can grab attention from potential buyers is to focus on the curb appeal.  There might be snow on the roof or the lawn, but you can use that to your advantage.  People searching for a home during this season will be looking for something that looks cozy and warm underneath the snow.  It’s important to make sure you’re clearing pathways without getting rid of the white blanket on the lawn or roof.

To create a cozier feel you might want to think about hanging a wreath on the door or putting some festive branches in your planters.  Although the holiday has passed, these decorations can last all season as long as they’re kept simple.  Simplicity should be reflected in all parts of your home décor, not just the rooms inside.  Make sure not to go overboard with decorations, or you’ll hide the appeal of the house itself.  Most home buyers won’t be interested in a yard cluttered with inflatable snowmen or a roof covered with Christmas lights.  Just a few special touches should do the trick.

Also, in your home’s listing you should make sure to show photos from both the spring and winter season so home buyers get a good view of the home year-round.  Another way to catch attention is to post photos of the views from the home because they are likely to attract potential buyers.

Whichever way you choose to advertise your home, make sure to showcase its best features.  Happy home selling!

New Hampshire waterfront property owners appreciate a clean beach

Location, location, location is the rule of thumb for much of the national market. However, like politics, real estate is local and here in the Lakes Region of New Hampshire we will place a great emphasis on Clarity, clarity, clarity.

Waterfront property demands its own level of priorities, and a clean, sandy lake bottom with a pleasant swimming area is often at the top of the list. But, New Hampshire is not known as the Granite State for nothing and so the ideal beach is often a rarity. This does not preclude that most beachfronts cannot be improved by what I label “aqua landscaping.’’

The dynamics of each water body should be carefully considered by any buyer: average depth, nutrient recycling capabilities, dissolved oxygen levels, rates of decomposition and water temperature are the primary evaluative tools. Phosphorus is at the root of most beachfront problems; it promotes plant growth and is introduced to a water body by lawn fertilizers, soil erosion, sewage, animal waste and decomposing vegetative matter.

Over the past dozen years impressive technical strides in water treatment have led to effective means of improving or eliminating problem beachfront concerns. Ultrasonic procedures, electric powered mechanical weed rollers, chemical additives and tools that agitate the lakebed are being used effectively without any negative effects to the aquatic life.

The impact of The New Hampshire Shore Land Protection Act by establishing rules for waterfront property owners has become a valuable piece of legislation for maintaining the quality of the way of life for waterfront owners in The Lakes Region. I encourage you to contact our offices and speak with our knowledgeable realtors prior to making your buying decisions.
Jim Ferriman Jferriman@spencerhughes.com 603-520-5385

First of all talk to your attorney, this is my best advice.  Despite the fact that divorce is an emotional roller coaster, the process demands a reasoned and rational approach to the disposition of shared real property. This is especially true when there are outstanding loans that obligate each individual.

Remember the loan clause regarding each spouse being equally and severally liable for the entire debt?  If both spouses had originally signed for the mortgage and one one spouse is going to keep the property, it is of paramount importance that the other meets his or her obligation before signing over ownership interest.  It may be necessary to refinance the mortgage so that the other spouse can be paid off. Besides determining who should buy the other person out you must negotiate the division of property and assets. But even before this takes place, you need to know your share of the equity. Therefore you must evaluate the worth of the house, subtract the outstanding mortgage balance and then calculate your share of what remains. read more »

Can a vacation 2nd home qualify for a 1031 tax deferred exchange? The answer is an unequivocal “maybe.” Clear enough? There certainly are established tax breaks that can make a vacation home more affordable, and use of this knowledge is how tax specialists earn their daily bread. I strongly suggest you meet with one for the latest IRS rulings and to maximize your benefits.

One very basic rule is to document the length of time per year that you and your family members spend at your vacation home, and whether it is held for personal use and enjoyment or for investment purposes. This, along with any rental income you may derive from it, will determine how the property is treated for tax purposes.  The three basic categories for review are: Use a lot/Rent a lot; Use a little/Rent a lot; and Use a lot/Rent a little.

What qualifies for a 1031 exchange?

It is accepted that a 2nd property that is used fewer than 14 days per year by the owner and rented out the rest of the year, is considered to be an investment property and qualifies for a 1031 exchange. Furthermore, raw land with no improvements and held solely for appreciation purposes qualifies for a 1031 exchange. Again, this at times may seem like a somewhat moving target, and discussion with your tax advisor would be my advice.

If your 2nd home is used exclusively for family vacations, the interest on a mortgage would be deductible just as interest on your first home is treated. And as important, local property taxes may be deducted on your second home. If your 2nd home is for seasonal use only, and you rent it out for 14 days or less in a calendar year, you can receive rent without claiming it on your income tax return. You can also still claim the same deductions in that the IRS considers it to be a vacation home.

Some formerly seasonal homes, bought many years earlier, and then later used as the principal residences of  newly retired owners following improvements, may qualify for the up to $500,000 tax free profit upon its sale after 2 years of primary use. However, federal legislation has been adjusting this break recently to apply tax to a pro-ration of the total years of 2nd home ownership to that of primary residence.

Confused? It is daunting at times, but 2nd home ownership reality is made more possible for many by navigating through the existing rules and regulations – and for, by and large, very enjoyable results.
Jim Ferriman

Rational Self Interest of course! Adam Smith is my favorite philosopher and economist. And though he hasn’t been around for 200 years or so, his theory is relevant to selling Lakes Region real estate in today’s market.

The rational objective of putting a home on the market is to sell it in the most efficient manner. Over-pricing is the biggest barrier to an efficient sale. Common reasons for over-pricing are:

• Unreasonable expectations
• Sentiment – the seller’s inability to view the property as a simple commodity
• Listing agent inexperience

One the other hand, if a home is priced below market value the home will receive buyer attention and multiple offers which in turn drive the sale price to the true market.

Lengthy listing (of several months or years) and recurring price reductions always damage a property’s perceived value to the buyer pool. It is better to eliminate these harmful impressions with an initial accurate appraisal of the property.

Apply your own Rational Self Interest and you’ll avoid over-pricing by interviewing a number of experienced lakes Region Realtors. Be aware that the Realtor who presents the highest suggested listing price might be counter-productive to your goal.

Tuftonboro NH Real Estate - Waterfront Living on Cow Island Beyond the charm of the rustic yet luxurious amenities (expansive decks, cathedral ceilings, stone fireplaces and skylights), this Adirondack style home’s magic is in its location: the property is only accessible by boat. Imagine island living within driving distance of Boston! This exquisite property is very well priced at $829,900

Lake Winnipesaukee Waterfront Home - Alton NH The kitchen and living room and this luxurious 6000+ square foot lakefront home are right on the waterfront. Each room affords spectacular natural views; granite and hardwood finishes throughout emphasize the closeness of nature. Beach rights and a one-of-a-kind boathouse make it the quintessential Winnipesaukee waterfront home.