May 28th, 2009
Well, we finally did it. According to the latest Census Bureau estimates, New Hampshire is now tied with Florida for the distinction of being the fourth oldest state in the nation. Our median age went over 40 years old for the first time ever.
Here’s the 2008 top four lineup: Maine at 42.0, Vermont at 41.2, West Virginia at 40.6 followed by New Hampshire and Florida at 40.2 years old. New Hampshire’s median age has risen three years since 2000, which is twice the nationwide increase of 1.5 years.
See full article on a separate page in this blog.
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May 25th, 2009
Short sale — annoying process but a good opportunity . . . sometimes.
While working with my clients in a variety of purchase scenarios (bank-owned foreclosures, short sales, distressed sales, and normal/seller-direct purchases), we’ve found the “short sale” transaction to be the most confounding.
In a short sale, the seller of the home must sign off on the sale, which is the easy part. Then his/her lender must also approve the price and terms of the purchase which, by definition, brings in purchase proceeds below the amount of the outstanding mortgage loan. For example, if the property is sold for $150,000 and the owner/mortgagee owes $160,000 on the mortgage, they are in a short sale predicament. The lender has to look at the overall strategy and comparable sales for the area and decide (often by committee) whether to sell at a loss and write off the loss, or to proceed with foreclosure and take over ownership of the property and then hope to sell at a price higher than the current offer. This rarely works out well for the bank, since values typically drop on the property once it has been foreclosed upon and vacated, perhaps sustaining damage along the way.
It’s frustrating for the buyer/client who has to wait weeks for an answer on the first offer and any subsequent offers. He’s going through two layers of respondees — the current owner, then that owner’s lender.
If you’re patient however, you can get a good deal on a property and get a home that has been lived in recently, thus expecting that all major systems function fairly well and vandals haven’t destroyed part of the home.
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April 17th, 2009
Do you feel bad for the family that gets foreclosed upon by the bank because they didn’t make their payments timely? Aw, maybe.
Do you feel bad for the bank who now owns an asset worth substantially less than the liability originally lent? Perhaps.
Either way, that is the market at work, and their loss can be your gain! Foreclosed properties are an excellent opportunity for you to pick up a home or income building for pennies on the dollar. Yes, purchasing a REO (real estate owned, or bank-owned property) is a cumbersome and slow and annoying process, but it is often worth the wait for the patient investor.
Contact me for information on foreclosures and short sales in Southern New Hampshire, and let’s get you into a great investment! Email mark@porcupinerealtor.com for details, along with lender information.

Awesome home on the water!
Tags: auction, bank owned, foreclosure, property, reo, short sale
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April 3rd, 2009
Pay back a loan in future inflated dollars. Lock in your payment in today’s dollars and then it will easy to make the payment in inflationary times, especially if you have an investment property with tenants paying a portion of your mortgage.
Not everyone is ready to be a landlord, though; it can be a tricky, unpleasant undertaking.
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March 24th, 2009
We could be in a perfect storm of real estate-buying opportunity right now: near record-low interest rates, falling prices, and a buyers’ market.
Imagine locking in a long-term mortage loan at today’s low interest rate and 2009 dollars and paying it back over 15-30 years in devalued currency, while watching interest rates soar. Rates are invariably going to rise (rember the double digit mortgage rates of the early 1980s?).
If you have cash, or at least a small down payment and a good, steady job with W-2 income (i.e. salary, as opposed to self-employed or 1099 ind. contractor status), then you’re golden. Now is the time to jump in.
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December 30th, 2008
Thank you for visiting Mark Warden - Porcupine Realtor.
We look forward to helping you find the perfect piece of property in the Granite State.
Whether you are looking for a low-maintenance condo, a cabin in the woods, acreage, or a suburban home, the Porcupine Realtor will HELP YOU invest in the Free State. I have access to foreclosures and short sales, along with fixer-upper handyman specials!
Financing help is available.
Please visit my real estate website: www.MarkWarden.Point2Agent.com
EMAIL CONTACT: mark@PorcupineRealtor.com
PHONE CONTACT: 603.391.2888
I look forward to working with you. New Hampshire awaits you!
* Email now for a special list of property tax rates by town in NH. *
Mark Warden - Porcupine Realtor
Silver Family Real Estate
Manchester, New Hampshire 03104
Tags: condo, home, house, property, real estate
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