Do you like views? This unique property has unparalleled 360 degree views sitting atop approximately 200 acres of untouched New Hampshire wildlife. The three-level home includes 3 bedrooms, 2 bathrooms, a guest apartment, and comes equipped with an elevator. The home is located in Pittsburg, NH and is listed at $5.1 million.
For more pictures, view the MLS listing
.This property is listed by RE/MAX Omega Group.
Labels: luxury, luxury home, new hampshire real estate
posted by B. Samii @ 10:31 AM
Whether purchasing property in Massachusetts or New Hampshire, great care should be taken when deciding how multiple persons should hold title to a property. In Massachusetts and New Hampshire,there are 2 similar ways that multiple persons can take title.
1. Tenancy in Common
is the default, in which each owner, referred to as a tenant in common, is regarded by the law as each owning separate and distinct shares which may differ in size. This form of ownership is common where the co-owners are not married or have contributed different amounts to the acquisition of the property. Tenants in common have no right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass by inheritance to that owner's devisees or heirs, either by will, or by intestate succession.
2. Joint Tenancy with Right of Survivorship or JTWROS
is the other type of estate in both Massachusetts and New Hampshire. It means that if one owner dies, that owner's interest in the property will automatically pass to the remaining owner or owners. The deceased tenant's property interest simply evaporates by operation of law, and cannot be inherited by his heirs (which means it avoids going through probate). Under this type of ownership, the last owner living takes all.
It is important to note, however, that creditors' claims against the deceased tenant's estate may, under certain circumstances, be satisfied by the portion of ownership previously owned by the deceased, but now owned by the survivor or survivors. In other words, the deceased's liabilities can sometimes remain attached to the property.
This form of ownership is common between husband and wife, and parent and child, and in any other situation where parties want absolute ownership to immediately pass to the survivor. For bank and brokerage accounts held in this fashion, the acronym JTWROS is commonly appended to the account name as evidence of the owners' intent.
In order to create this type joint ownership, the party or parties seeking to create it must use specific language indicating that intent. For example, if Faye wishes to convey property for Bob and Ron to share as joint tenants with right of survivorship, Faye must state in the deed that the property is being conveyed "to Bob and Ron, as joint tenants with right of survivorship".
3. In Massachusetts, there is also one other form of tenancy that exists. It is called Tenants by the Entirety
. Tenancy by the entirety is a type of concurrent estate available only to married couples, wherein ownership of the property is treated as though the husband and wife are a single legal person. Like a JTWROS, the tenancy by the entirety also encompasses a right of survivorship, so if one spouse dies, the entire interest in the property passes to the surviving spouse, without going through probate.
In order for a tenancy by the entirety to be created, in some jurisdictions the party or parties seeking to create it must specify in the deed that the property is being conveyed to the couple "as tenants by the entirety". However, unlike a JTWROS, neither party in a tenancy by the entirety has a unilateral right to sever the tenancy by the entirety - if it is to be undone, or if any part of the property is to be conveyed to another person, this must be carried out by both husband and wife. A divorce breaks the unity of marriage, leaving the default tenancy, which is tenancy in common. Benefits include the ability to shield property from creditors of only one spouse, as well as the ability to partially shield property where only one spouse is filing a petition for bankruptcy relief.
posted by Attorney Pete Smith @ 6:47 AM
FARS Realty Group
along with Smith & Janian Attorneys at Law
and Tony Cardinali
(Mortgage Masters) will host the Real Estate Happy Hour
Thursday April 19 from 6:00 - 8:00 pm at the Charlesmark Hotel, Boston, MA (Get Directions).
The Real Estate Happy Hour is a casual forum to have some drinks, meet new people,
and discuss anything related to real estate and investing. Also, a great opportunity to learn something about buying/selling properties and ask questions from real estate brokers, attorneys, and mortgage lenders.We love meeting new people!!
If you are interested in attending, please RSVP firstname.lastname@example.org
as space is limited.
Labels: boston, event, real estate
posted by B. Samii @ 12:10 PM
New Hampshire is the only state in the country without a mandatory seatbelt law but things might change soon. On Friday, the House passed a bill (HB 802 - 'Seatbelts for All') to require anyone in a moving car to wear a seatbelt.
The bill still needs to be passed through the senate and signed by Governor Lynch. If passed, the law would carry a $50 fee for any unbelted passengers ($100 for the second offense).
Labels: new hampshire
posted by B. Samii @ 3:30 PM
We are in a very opportune buying environment that could be prove to be a great time to find some great deals for the savvy real estate investor.
With the drop in property prices and longer days on the market, homes have become much more affordable than they have been in recent years.
Throw in the sub-prime problem and the rising foreclosures and you have a dream market for a real estate investor looking to pick up a good deal.
Here is a synopsis of what is shaping the market and why this is might be a great time to buy real estate:
Mortgage industry tightening up (sub-prime meltdown)
The golden days of creative financing are over and a lot of Americans are finally getting slapped with a cold backhand of reality… or what is turning into the sub-prime turmoil
In the heat of the real estate market that was booming in 2004-2005 lenders gave mortgages out like candy, even to people that were taking on debt that they shouldn’t have -- high-risk borrowers with less-than-perfect credit with little or no money for down payments.
These are the people that were getting into sub-prime mortgages and most probably didn’t even fully understand what they were getting themselves into.
In fact, according to bankrate.com, 3 out of every 10 U.S. homeowners have no idea what type of loan they own… scary
And guess what?
All that predatory lending from a few years ago is finally catching up to the thousands of homeowners that locked into all those sub-prime and adjustable mortgages that are now maturing.Lots of foreclosures
The slow down in the market in conjunction with the sub-prime meltdown (and other factors) has resulted in rising mortgage delinquency and more and more foreclosures that are expected to continue to rise nationwide throughout the year.
In Massachusetts there were 111 foreclosure filings every business day
or an increase of 81.97%
when comparing the past 12 months to the same period a year earlier (21,644 v. 11,894), according to ForeclosuresMass.com
In New Hampshire
, foreclosures are expected to double from last year.
And this is just the beginning. The Center for Responsible Lending, a nonprofit based in Washington
, recently estimated that the approximately 2.2 million subprime loans that were made in the past eight years will end in foreclosure… scary
.Homes staying on the market longer
The cool down in the market is made the most apparent by the stagnant inventory that is taking longer to sell than previous years.
As properties are spending more Days On the Market there is, generally, further downward pressure placed on home prices.
We are surely in a buyer’s market (or I should say a buyer’s market for qualified buyers) and there are lots of great opportunities out there but it won’t last forever.
All else being equal, if interest rates increase as many experts predict, we will soon move into a very neutral environment that will level the playing field, neither in favor of buyers nor sellers. The upside from the Buy will be best realized in the next several months while enough 'deals' still exist.
In addition, although there a lot of deals out there, ‘flipping homes’ and increases in property values will require longer holding periods before most home buyers realize a healthy profit. So don't watch too much tv and get disilllusioned by the idea of quick a sale.
Labels: massachusetts real estate, new hampshire real estate market, real estate market
posted by B. Samii @ 8:51 AM
The March numbers show that the market seems to be improving across NH and may indicate a healthy spring market coming before us...Condominiums:
The following is data regarding NH condomium sales activity:Nashua
Number New condos - 63
Number Sold condos - 22
Average Days on Market - 92
Average Listing Price - $220,077
Average Price Sold - $218,909Manchester
Number New condos - 86
Number Sold condos - 65
Average Days on Market -78
Average Listing Price - $169,755
Average Price Sold - $168,516Portsmouth
Number New condos - 20
Number Sold condos - 9
Average Days on Market - 94
Average Listing Price - $382,133
Average Price Sold - $382,20Concord
Number New condos - 33
Number Sold condos - 12
Average Days on Market - 118
Average Listing Price - $169,910
Average Sales Price - $169,979Single-Family Homes:
The following is data regarding NH single-family home sales activity:Nashua
Number New homes - 109
Number Sold homes - 42
Average Days on Market - 109
Average Listing Price - $269,449
Average Price Sold - $261,186Manchester
Number New homes - 103
Number Sold homes - 51
Average Days on Market - 101
Average Listing Price - $251,412
Average Price Sold - $247,406Portsmouth
Number New homes - 28
Number Sold homes - 8
Average Days on Market - 212
Average Listing Price - $413,288
Average Price Sold - $391,562Concord
Number New homes - 45
Number Sold homes - 19
Average Days on Market - 144
Average Listing Price - $287,197
Average Sales Price - $280,109
Labels: new hampshire real estate, real estate market
posted by B. Samii @ 10:47 AM