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Roy Sanborn - Real Estate Internet dating

As of March 1, 2013 there were 900 residential homes for sale in the Lakes Region of N.H. communities listed in this report. The average asking price stood at $503,883 and the median price point was $249,900. The current inventory level equals a 12 month supply of homes on the market which is a whole lot better than the 994 listings and 15 month supply as of March 1, 2012.
An associates told me the other day that a buyer she was working with thought that looking for a property online was a bit like Internet dating. The buyer had asked about some properties and the agent clued her in to some issues that weren't readily apparent from the info and pictures on the MLS. Buyers often find a property online that they think they love only to be heartbroken when finally seeing it in person. Could that sweetheart of a home turn out to be just a cheap, boorish date?
It got me thinking about how it might be possible to improve on the various real estate websites and take the guesswork out of finding the right home or agent to work with. Imagine, you want to buy a house and you need to find a real estate agent to help you. Right now you usually ask someone you know who they have used, or grab a real estate magazine to pick out the most handsome guy or the prettiest gal, or you go to websites like REALTOR.com to read agent bios. Just so you know, real estate agents write these glowing bios about themselves so they tend to be a bit aggrandizing to say the least. We have had years of experience in describing run down mobile homes so that you envision them as palaces so we are also pretty good at describing ourselves. It is also common practice among real estate agents to use photos of themselves when they were 10-15 years younger, 25 pounds lighter, and had more hair. No wonder you are shocked when you finally meet your agent for the first time.
What if there was website called Matched.com where buyers and sellers could go to find a date, I mean agent, and live happily ever after in real estate bliss. This will be accomplished by utilizing a very complete and in-depth interview process and a detailed personal profile. Once a buyer or seller completes the questionnaire, a proprietary software program using a top secret algorithm will match the starry eyed buyer or seller with the perfect mate, I mean agent. Actual present day photography will also be used to eliminate those unpleasant and awkward first encounters.
For example, if a buyer is new to the area and his personal profile shows that he has a hard time making decisions, he will likely be paired with a new agent that is hungry for work, needs to learn the inventory, and owns a Prius as this buyer is likely going to look at 35-40 homes. Say a home seller is a survivalist and his fortified compound might just scare most agents. He would be paired with a like minded NRA member with a four wheel drive pickup truck, Jeep, or better yet a blacked out Hummer. If an elderly couple is looking for a retirement home, Matched.com doesn't hook them up with a some young techie agent. No sir, they would get an agent that would enjoy an afternoon nap in the car with them or the early bird special down at Friendly's. A crusty, cantankerous, million dollar buyer or seller would be paired with a very patient agent with good listening skills as nothing he has to say would matter anyway. See, perfect matches every time.
The eHomeny.com website is going to be THE place for buyers to find their perfect home online. There will be no surprises here as all properties will be presented in a complete, truthful, and un-enhanced manner that gives the buyer the best, scratch that, the most truthful on-line representation possible. The online dating site "eHarmony®" boasts that you would "get deeply matched with singles based on 29 Dimensions®." Well, eHomeny is going to be better, having 32 Dimensions® (all of theirs, plus the lot acreage and width and length of rooms). All sellers will have to fill out an exhaustive property profile that goes far beyond that four page State of NH Seller's Property Disclosure currently used. In addition, an eHomeny representative will certify the accuracy of the property profile with the eHomeny Gold Seal of Approval.
This profile gets into things like "What does the home smell like?", "Has duct tape been used to make any home repairs?", "How many packs of cigarettes did you smoke per day in here?", "Are the neighbors a pain?", "Rate the road noise," and "When was the last time you cleaned the shower stall?" The eHomeny representative would take external pictures facing away from the house in all directions so you can see the redneck roadhouse or the sewerage plant next door. A video tour of the ride to the property from the nearest Dunkin' Donuts would also be provided to show you what you will have to pass by on the way.
A used NASA computer running an outdated CIA software program will match the 32 Dimensions of information gathered from the buyer with homes providing a perfect match every time. The average time to find a home now will be two days thereby lessening the demand on gasoline and lowering fuel prices worldwide. eHomeny will benefit sellers regardless of whether the property is beautiful or a real plain Jane. There are buyers out there that are extremely fussy and then there are those that could care less where they live as long as the house is cheap to heat and it's not too far from a Cumby's or Wal-Mart. Then there are properties where the only buyer would have to be a blind fool from California with lots of money. The eHomeny's Compatibility Matching System will find the proverbial arse for every seat... I mean house. You'll feel like you are on a honeymoon right from the start.
These new sites really will take the guess work out of internet home shopping! You deserve to experience the joy and excitement of falling in love with an agent and a home with whom you share true compatibility. Would you like to fill out a questionnaire?
Please feel free to visit www.lakesregionhome.com to learn more about the Lakes Region real estate market and comment on this article and others. Data was compiled as of 3/1/13 using the Northern New England Real Estate MLS System. Roy Sanborn is a REALTOR® at Roche Realty Group and can be reached at 603-677-8420

Last Updated on Saturday, 09 March 2013 00:32

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Froma Harrop - Taxes are up & the sky is still there

"Most of the media is so sold out to Obama that they're missing the obvious," Jim DeMint said on Fox News only last week. "The policies the president has in place, especially the tax increases that just got in, are going to hurt our economy, probably actually bring it down." The former Republican senator from South Carolina was speaking as president-elect of the Heritage Foundation, a conservative think tank.
DeMint made this remarkably dire prediction seven days before the Dow Jones Industrial Average hit an all-time high. The employment numbers remain weak, but they, too, are improving and helping raise confidence levels, especially in the housing market.
By the time you read this, stocks may have gone higher or lower. And a raft of additional good and bad economic news will have marched across the Bloomberg screens. But we can count on one constant: Jim DeMint will be wronger than Captain Peter Wrongway Peachfuzz.
His lightning bolts did provide some stereophonic balance to President Obama's over-the-top warnings of grievous suffering should the sequester go into effect, a process that also began last week. Then, from the speaker on the right, came the not very relevant point that the tax hikes would take more money out of the economy than the forced spending reductions. "It's a whopping $149 billion in taxes vs. $85 billion in spending," complained Heritage spokesman Robert Bluey.
One wishes the bumper sticker could be widened to include these thoughts: For starters, the higher taxes plus the sequester equal significant deficit reduction, something conservatives purport to want. Also, combining new tax revenues with spending cuts would seem a balanced approach.
One can't repeat often enough that the stock market and economy took off after Bill Clinton's 1993 tax hike on upper incomes.
Ignoring that evidence, the right persists in replaying the old videotape that higher taxes inevitably lead to economic desolation.
"Higher taxes will hinder economic growth," Heritage said back in 1993. They "will shrink the tax base and reduce tax revenues." They will "result in larger federal budget deficits." Newt Gingrich, off by about 180 degrees, confidently predicted that the tax increase "will in fact kill the current recovery and put us back in a recession." As we know, the opposite happened.
Certainly, other things helped create Clinton-era budget surpluses. The dot-com boom raised stock-market wealth, and defense spending went down. But the bottom line remains: By the end of Clinton's eight years, there were 23 million new jobs and average weekly wages were up 21 percent.
And here's the kicker: The booming economy made the richest Americans even richer. They did better after paying Clinton's higher taxes than they did in the George W. Bush era, when their tax rates were lower.
As noted, many other factors add to or subtract from the economy's health. Right now, the Federal Reserve's low interest rates are helping boost investment. Housing seems to be perking up. And the American economy was bound to eventually recover from the depths.
It's obvious, though, that Obama's tax increases, including a few fees on health care, are not blowing up the economy. It's amazing that guys like DeMint can go on Fox year after year and make the same crashingly silly predictions — and that Heritage hasn't stopped him. (The Washington Post last December predicted that DeMint, a tea party hero, would give Heritage a "sharper edge." I don't think "sharp" is quite the word.)
As for the allegedly falling sky, all you have to do is look up. Some taxes have increased, and the sky's still there. Not only that, it's getting bluer.
(A member of the Providence Journal editorial board, Froma Harrop writes a nationally syndicated column from that city. She has written for such diverse publications as The New York Times, Harper's Bazaar and Institutional Investor.)

Last Updated on Thursday, 07 March 2013 23:52

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Froma Harrop - Is the sequester that awful?

The sequester may be "dumb," as the president says, but one thing it is, is interesting. Especially the politics.
First off, it slashes defense spending, which Democrats want and most Republicans don't. With the exceptions of Hawaii and Maryland, the deepest defense cuts are being felt in the red (or purple) states so intent on shrinking government.
Irony abounds. Note the spectacle of red-state politicians fighting off tax hikes that would hit hardest on the blue states, where incomes are higher.
Let's talk about Virginia, whose economy will be most hurt by the squeeze on civilian defense jobs. Thanks to the war on terror, a civilization of gleaming new office towers had spread across its northern countryside. No doubt these people are doing useful work, some of them. But inadequate attention has been paid to what the taxpayers were getting in return.
Look at Fairfax, Arlington, Loudon, Alexandria and other government-subsidized paradises. Admire their gracious housing developments, Northern Italian eateries, Lexus vendors, Tiffany stores, Cartier representatives and other purveyors of the high life.
Of the 10 richest counties in America, six are in the Washington, D.C., suburbs. In the recent recession, unemployment in Arlington County, where the Pentagon resides, never passed 5 percent. Now, due to the sequester, 90,000 civilian defense workers based in Virginia will experience temporary layoffs, and the state could head into recession.
Republicans insist that they'd rather see this almost $1 trillion in forced social and military spending cuts over 10 years than another penny of tax revenues. That he originally supported sequestration must be a great political inconvenience to Eric Cantor, the Virginia rep now serving as Republican house majority leader.
Politics aside, it appears that the warring parties have blindly stumbled onto a way to reach the goal of cutting deficits by $4 trillion over the decade. We get there by adding the sequester, the $1.5 trillion in spending cuts started in 2011, President Obama's $700 billion tax hike on rich people and the $700 billion to be saved in interest on the debt.
While this is no way to run a railroad, the train may be reaching its destination in a fashion. So, has your correspondent lost her mind and joined the tea party?
The answer is "no." Here's where she differs radically from the Republican right:
This obsession with shrinking government makes no sense. It's pointless to brawl over whether government should be big, small or middling. We should decide what we want government to do — and ensure that government does it in an effective way. And except in economic downturns, we should pay for that government with tax revenues.
It is not true, as many on the right insist, that raising taxes fuels government spending. The opposite is true. When you force folks to pay outright for government, they look at the bill. Borrowing the money makes it seem like a free lunch. That's how the George W. Bush administration got away with cutting taxes, running two unfunded wars and starting a new Medicare drug benefit, not a penny of it paid for.
Here's where your writer agrees with the tea party: Much government spending is wasteful. The way to address that, however, is to go into the budget, identify the unnecessary, and fight the entrenched interests living off it.
We may not always agree on what is unnecessary, but putting a bowl over the head and chopping what's hanging out is an inelegant way to do a haircut. We're stuck with this approach right now, so let's see what happens. Perhaps this lemon of a leadership can produce some lemonade, even if only by accident.
(A member of the Providence Journal editorial board, Froma Harrop writes a nationally syndicated column from that city. She has written for such diverse publications as The New York Times, Harper's Bazaar and Institutional Investor.)

Last Updated on Wednesday, 31 December 1969 07:00

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Bob Meade - A few things to ponder

The Affordable Care Act, aka "ObamaCare", is, essentially, an expansion of Medicare to all citizens. It was thought that by forcing younger people to buy health insurance, that would prop up the financially strapped Medicare. You see, by its own admission, Medicare claims to have $36 trillion in un-funded liabilities. Add to that, ten thousand "baby boomers" are retiring every day and going on the Medicare rolls. Those numbers will continue for the next 19 years. And government appears to have made it easier for those who have exhausted their unemployment benefits, to file for Social Security disability. After 18 months, they too, will qualify for Medicare benefits. If there's $36 trillion in un-funded liabilities now, how much more will it be when the entire citizenry is on it?
If you make something cheaper, or if you make it easier to do, more of it will happen. With that in mind,and considering we already have a physician shortage, and considering many of the seats in our medical schools are occupied by foreign students here on temporary student visas who will return to their home countries after becoming physicians, and acknowledging that many physicians have said they will take early retirement when "ObamaCare" kicks in, how do you think we will accommodate the increasing demands on the medical network? Long waiting lines? Rationing? Services denied to the elderly?
Another issue is that Medicare essentially regulates prices. Doctors and hospitals can set their fees. Today, those fees can be paid by those not on Medicare. However, if the patient is on Medicare, the fee paid to the doctor is set by the government. For example, the physician may charge $105 for an office visit. Medicare may only allow $65 for that visit. Medicare pays 80 percent of the $65 and the patient or his secondary insurance pays the balance. For surgeries, tests, and hospital stays, the reduction in allowable charges is even more pronounced. Prior to the Affordable Care Act, doctors and hospital could recover some of these lowered reimbursements from the amounts paid by non-Medicare patients. As that capability ceases, how does the medical community maintain its financial health? Does the entire medical system become part of the government? Just think, the government, which has Medicare with $36 Trillion in un-funded liabilities, running the entire system and expanding that number to infinity. Perhaps we should get China's permission first.
When Social Security was introduced back in the mid 1930's, there were sixteen people paying into the system for every one collecting a benefit. Today, there are less than three people contributing for every one receiving. Also, back at its inception, life expectancy was 57 years and eligibility for benefits was 65 years of age. As you can see, it looked like a good deal for the government . . . making benefits available eight years after people were expected to have died. Well, things have changed. Today life expectancy is 76 years for men and for women it is 81, but the full retirement age for Social Security has only increased by one year, to age 66.
In 1964 President Johnson needed monies to fund his "Great Society" programs. Until then, Social Security funds were kept separate from general funds. For the first time Social Security contributions were borrowed and mixed with general funds. Government securities in the amount of the borrowed Social Security monies were put into the proverbial lock box. Those transactions didn't impact Social Security until the annual payout of benefits exceeded the annual receipt of funds. That has happened and will only get to be more of an issue as those baby boomers continue to retire at the rate of 10,000 per day for the next 19 years. In order to redeem those government securities, the government must sell new securities to get the funds necessary to redeem them. While the transaction doesn't increase the debt or deficit, it may increase the interest paid and it will certainly transfer the burden of paying off the newly purchased securities to a future generation.
In 2010, the net present value of Social Security's un-funded liabilities was estimated at $15 trillion. Added to the Medicare un-funded liabilities of $36 trillion, we have a staggering total of $51 trillion dollars being dumped on future generations . . . our children and grandchildren and their children. While there is no easy fix for Medicare and Social Security, each must be addressed soberly and changes made. The addition of the Affordable Care Act into the mix may be the proverbial straw on the camel's back.
These are but two of our spending issues. Don't you think it's time they get addressed honestly?
(Bob Meade is a Laconia resident.)

Last Updated on Wednesday, 31 December 1969 07:00

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Roy Sanborn - Good buys

There were 54 sales in January in the Lakes Region communities covered by this real estate market report. The average sales price was $189,399 and the median price came in at $169,430. I thought that was pretty dismal until I looked at last January's sales numbers and realized we only had 48 sales then. Even though last January's average sales price was higher at $295,068 and the median price was $184,500, right now I'll take the higher activity level as we need to keep the inventory levels down.
There appeared to be some pretty good buys last month. I'm not talking about the after Christmas sales at the mall, but good buys on all kinds of Lakes Region real estate. For example, there is a property at 536 Endicott Street in Laconia which is across from the Funspot parking lot that was owned by Freddie Mac. It sold for a mere $38,500, which was just 25 percent of its assessed value of $152,100! I can't say much about the house as I haven't seen it and there really isn't much info in the MLS, but what the heck, it is a four bedroom, two bath cape built in 1958 on a .98 acre commercially zoned lot with public sewer. Seems like this was a great buy regardless of the condition of the home?
A property in HUD's vast stable of foreclosed properties sold at 19 Westview Drive in Laconia for $99,500, or just 50 percent of its assessed value of $199,500. This is a 1965 vintage, three bedroom, two bath ranch, with 1,640-square-feet of living space, and a two car garage that sits on a .53 acre lot with views of Lake Winnisquam. Water views at $99,500? As with most bank owned or HUD owned properties there wasn't a lot of effort given by the listing agent to describe or to give any info on this property. He was pretty adept, however, at letting you know that the property is being sold "in as-is condition," that the "property is sold AS IS AS SEEN," and "neither the owner or the agent makes warranties or representations." Despite having to deal with the Sergeant Shultz mentality of "I Know Nothiiinngg," this was probably a pretty good deal with some good upside potential for the buyer.
Also in Laconia, over at 139 Eastman Shore Road North, someone got a great deal on a nice 1,978-square-foot, three bedroom, one-and-three-quarter-bath ranch. This home was built in 2003 and was in "turn-key" condition. This home was light and bright and features an open floor plan, a kitchen with a pantry and office area, a living room with a soap stone gas stove, a finished walk out lower level, a four season room finished in pine, bedrooms with cathedral ceilings, a farmers porch, and a two car garage. This home sits on a 2-acre lot with beach rights to Winnisquam. Unlike the previous two homes, this home was owner occupied, so the buyer got the all the property disclosures to help him get comfortable with his purchase. And based on the fact that the new owner bought the property for just $176,000 or 75 percent of its assessed value of $236,100 and $43,000 less than the original asking price, I bet he is pretty comfortable!
If you like older homes with charm and character you would have liked the property at 528 Cherry Valley Road in Gilford. Built in 1928, this 3,642-square-foot, four bedroom, three and a half bath cape has large bright rooms, cathedral ceilings, exposed beams, two fireplaces, hardwood and tile floors, a first floor master suite, a walkout finished lower level with game room, large deck, a detached two car garage, and great views of Winnipesaukee. The house sits on a well landscaped 2.29-acre lot near the Gunstock Recreation Area. This home was originally listed back in 2008 at $489,000, but this go around it came on the market at $274,000 and sold for $274,000 which is 78 percent of the assessed value of $350,170. What a difference a few years and a few hundred thousand dollars makes...
Last week I wrote about the "unexpected" low number of sales on Winnipesaukee in January. That was just one sale, by the way. Well, I got an "unexpected" e-mail from an agent that read the column and she was sure that the waterfront listing she sold at 301 Trask Side Road in Alton was the one I would have described. Unfortunately, that property was not included in my report because she omitted a key piece of data when she entered it in the MLS. In the MLS you indicate the type of water access that a property has from a drop down menu with choices such as "owned," "shared," or "ROW." This field was overlooked and left blank on this listing so it was not picked up in the search. So anyway, "unexpectedly," this listing doubled the number of sales on Winnipesaukee in January to two! This home is a 1965 vintage, 3,164-square-foot, six bedroom, three bath contemporary ranch with two completely separate living areas and kitchens. The house features an open floor plan, two stone fireplaces, lots of natural wood work including wood ceilings, and more importantly lots of glass to bring in the big lake sunset views. This home sits on a .6 acre lot with 144-feet of level frontage with two docks and a lake side deck. The sale also included a 6 acre lot across the street.
So, I do feel a little better that we had two sales instead of one, but not really, really great as we need more. But, I also heard from the buyer of that property about how happy he was to be on Winnipesaukee. As a matter of fact, he said, "We feel Great! As it is a terrific house in a fantastic location. I refer to it as box seats on the forty yard line of the big lake!" And I think he got a good deal to boot. This property was listed at $879,000 with a tax assessment of $845,900 and was purchased for $785,000. A good deal and a very, very happy buyer! Now that's what I call great!
Please feel free to visit www.lakesregionhome.com to learn more about the Lakes Region real estate market and comment on this article and others. Data was compiled as of 2/19/13 using the Northern New England Real Estate MLS System. Roy Sanborn is a REALTOR® at Roche Realty Group and can be reached at 603-677-8420

Last Updated on Friday, 01 March 2013 22:55

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