Waiting to buy a home in Portsmouth, NH could prove to be a costly mistake.With prices projected to keep rising, it’s essential to act sooner rather than later if you’re considering purchasing a property in this vibrant coastal city.1. Rising Home Prices:Portsmouth’s housing market has consistently seen home prices on an upward trajectory. Demand for homes in this beautiful coastal city has outstripped supply, intensifying competition among buyers. Delaying your home purchase could mean facing higher prices, potentially making it more challenging to find a property within your budget.2. Limited Inventory:The availability of homes in Portsmouth is relatively low compared to the high demand from prospective buyers. This scarcity can further drive up prices. By waiting, you risk encounteri... 09/07/2023

What is property fraud and how can I avoid it?Property fraud is when someone uses a false identity to change the ownership of a property from your name to their name. Once they have the property in their usually false name, they can use the equity in your property as collateral and get as many loans as possible using your property as security. This goes on behind the scenes and victims usually have no idea it’s even happening until they start getting past-due notices and calls from creditors looking for repayment of their loan.What about those “title protection” services? You may have seen or heard advertisements from companies advertising “Title Lock” protection or similar wording. They often pay celebrities big bucks to advertise their products while using scare tactics to frighten yo... 08/31/2023

Why Median Home Sales Price Is Confusing Right NowThe National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each one. NAR reports on the median home sales price, while some other sources use repeat sales prices. Here’s how those approaches dif... 08/21/2023

Housing Market Forecast for the second half of 2023We’re over halfway through 2023 now so let’s take a look at what’s happened in the first half of the year and make some predictions for what the Portsmouth, NH housing market for the rest of the year might look like.Home price Forecastfor single-family homes and condos in Portsmouth and the New Hampshire Seacoast continue to appreciate and I note that Portsmouth crossed the million-dollar mark for average sales price in July for the first time ever. That figure was driven by several multi-million dollar sales of single-family homes and two large new homes developments coming on line with million-dollar price points. On the bright side, there are still some relatively reasonable prices for single-family homes and condos to be found in Po... 08/05/2023

Here’s why waiting to buy a home is a bad idea.Portsmouth, New Hampshire, and NH Seacoast home prices are projected to continue to rise, and the longer you wait, the more you’ll pay. If you’re considering buying a home in Portsmouth, New Hampshire, it’s essential to act sooner rather than later. The real estate market in this vibrant coastal city is thriving, and waiting could prove to be a costly mistake. Here’s why delaying your home purchase in Portsmouth, NH, could result in higher prices and missed opportunities.Portsmouth’s housing market has seen a consistent upward trajectory in home prices.With demand surpassing supply, the competition among buyers has intensified. If you wait to buy a home, you may face higher prices, making finding a property within your budget more challengi... 07/16/2023

Don’t miss our latest market minute video.If you're considering buying a home in Portsmouth, New Hampshire, it's essential to act sooner rather than later. The real estate market in this vibrant coastal city is thriving, and waiting could prove to be a costly mistake. Here's why delaying your home purchase in Portsmouth, NH, could result in higher prices and missed opportunities. #annandjim #lifeontheseacoast #buynow #video #realestate   07/11/2023

 Now is a great time to sell your house in Portsmouth, NH, and the surrounding New Hampshire Seacoast area. The supply of Portsmouth, NH homes is low; low inventory means less competition for your house. You’ve probably heard about the intense competition and bidding wars that characterized the housing market over the last few years. While the peak of that frenzy may be behind us, it doesn’t mean you’ve missed your chance to successfully navigate the real estate waters and sell quickly for the best price. In fact, there are still plenty of opportunities to be found in this thriving market.Watch Our One Minute Market UpdateTo understand the current state of the New Hampshire Seacoast housing market, let’s look at a graph that illustrates the trend in the supply of homes for sale. This me... 07/08/2023

In the past year, uncertainty and speculation have surrounded the real estate market. Many housing experts predicted a home price crash in 2023, leaving people unsure about the housing market’s stability.However, recent data from Fannie Mae tells a different story. Contrary to the forecasts, there has been a slow but steady improvement in confidence in home prices this year. As we entered 2023, the alarming predictions significantly impacted Americans’ perceptions of the housing market. According to the historical survey conducted by Fannie Mae last December, a higher percentage of Americans believed that home prices would decline in the next 12 months compared to any other December on record. This uncertainty led to hesitancy among buyers and sellers, causing a temporary slowdown in re... 06/29/2023

Forget the median price – it’s all about what you can afford when exploring the real estate market in Portsmouth, NH.While the median price provides a quick snapshot of the market, it fails to capture the intricacies and nuances that can significantly impact your buying or selling decisions. Let’s delve deeper into the Portsmouth, NH, real estate market with insights from trusted local experts Jim Lee and Ann Cummings of RE/MAX Shoreline. Find out why relying solely on the median price may lead to misleading conclusions and how to understand the local market best.The median price is often used as a real estate market benchmark. However, it’s essential to understand its limitations. The median price represents the middle point of a list of sale prices, separating the higher-priced proper... 06/27/2023

Discover the Top 7 Reasons to Choose the New Hampshire Seacoast for Your Ideal HomeImagine living where stunning ocean views, sandy beaches, and a vibrant community are at your doorstep. Prepare to be captivated by the allure of the New Hampshire Seacoast, where Ann Cummings and Jim Lee await to guide you through your real estate journey. Brace yourself for an enticing adventure that will leave you longing for a slice of coastal paradise.Here are seven compelling reasons why the New Hampshire Seacoast is the ultimate destination for your residential dreams: Unrivaled Coastal Beauty: Prepare to be mesmerized by the breathtaking landscapes that only the New Hampshire Seacoast can offer. Picture yourself waking up to picturesque sunrises, the gentle sounds of crashing waves, and the refres... 05/14/2023

Are you considering moving to Portsmouth, New Hampshire? If so, you’re not alone! This charming coastal city has become a popular destination for people from all walks of life.In this blog post, we’ll explore five reasons people love living in Portsmouth, New Hampshire.Rich HistoryPortsmouth, New Hampshire, is a city that’s steeped in history. Founded in 1623, it’s one of the oldest cities in the United States. This year, 2023, Portsmouth is having a yearlong celebration of its 400th anniversary. Visitors and residents alike can immerse themselves in the city’s history by visiting the Strawbery Banke Museum, which features restored 17th-century buildings and exhibits that bring the city’s past to life. Portsmouth has many other historical sites, buildings, and places. The locals say you... 04/29/2023

What are the two reasons owners are selling their houses now? The real estate market constantly fluctuates, and New Hampshire Seacoast homeowners must know the best time to sell their homes. In recent years, the housing market has seen an increase in homeowners selling their houses to make a profit or to meet their changing needs. Let's explore why homeowners sell their homes and why they should hire Ann Cummings and Jim Lee with REMAX Shoreline to represent them during the sale. Visit our website, New Hampshire Maine Real Estate, to find great, free seller tools for you to use. The first reason homeowners sell their homes is to make a profit. With the real estate market's recent surge, homeowners are taking advantage of the opportunity to sell their homes for more than they originally ... 04/22/2023

Key Takeaways: Closing costs are a part of every real estate sale Many variables determine the price of closing costs Ask your local real estate expert for specifics about closing costs When buying or selling a home, it’s essential to understand what closing costs entail. Closing costs are expenses and fees that must be reconciled before the sale can be finalized. These costs typically include appraisal fees, survey fees, title costs, credit report fees, loan origination fees, underwriting costs, recording fees, and taxes. However, the specific costs may vary depending on your region and the terms of your contract. As your real estate professionals, we can provide you with a detailed breakdown of what will be included in your closing costs based on your specific situation.How Much Are C... 04/15/2023

Key Takeaways: If you’re planning to buy or sell a home in Portsmouth, NH, you may be wondering whether to buy first or sell first. The decision can be daunting, but weighing the pros and cons of each option can help you make an informed choice. Here are some key takeaways to consider before making a decision: There’s no right or wrong answer when it comes to the order of buying and selling a home. It largely depends on your personal preferences and circumstances. If you’re considering buying first, some pros to consider include having more time to find your dream home and avoiding the stress of potentially being homeless if your current home sells quickly. On the other hand, selling first can give you a clearer idea of your budget for a new home and may make it easier to secure financi... 04/02/2023

Multigenerational living, the practice of several generations living together in one household, is becoming increasingly popular in Portsmouth, New Hampshire. This is due to its many benefits, which include cost savings, family bonding, caring for older generations, and helping young adults get started.One of the most significant benefits of multigenerational living is cost savings. Families can pool their resources to pay for housing, utilities, and other living expenses by living together. This can be particularly beneficial for young adults who are just starting and may struggle to make ends meet.Another advantage of multigenerational living is the opportunity for family bonding. By living close to one another, family members have more opportunities to spend time together, share meal... 03/19/2023

How recent financial events could lead to significant savings on your dream home?In the ever-changing world of finance and real estate, sometimes the unexpected can lead to new opportunities. The recent collapse of Silicon Valley Bank and a few other regional banks might seem awful, but it could present a golden opportunity for potential NH Seacoast homebuyers. Let’s delve into the backstory and explore how these events can benefit you.A Brief BackstoryA few years ago, in 2020 and 2021, banks saw a flood of new deposits due to stimulus money and increased savings during the pandemic. Banks invested in low-interest treasury bonds and mortgage-backed securities to make the most of this influx, locking in 1-2% returns for years. Fast forward to today, and the Federal Reserve has significan... 03/18/2023

2 Things NH Seacoast Sellers Need To Know This Spring A lot has changed over the past year, and you might wonder what’s in store for the NH Seacoast spring housing market. If you plan to sell your house this season, here’s what real estate experts say you should remember.1. Houses That Are Priced Right Are Still SellingHouses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says:“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”The need to price your NH Seacoast house right is essential today because the market has changed so much over the past year. Danielle Hale, Chief Economist at realtor.com, explains:“With a smaller pool of buyers today and more competition from... 03/08/2023

 One Major Benefit of Investing in Portsmouth, NH real estate One of the many reasons to invest in a Portsmouth, NH, home is that it's a significant way to build wealth and gain financial stability. According to Freddie Mac:“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”With spring approaching, now's a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.The Largest Part of Most Homeowners' Net Worth Is Their EquityYou may be surprised to learn how much of a Portsmouth, NH, homeowner's net worth actually comes from owning their home. The National Association of Realtors (NAR) shares: “Homeo... 02/28/2023

Are you considering buying a home in Portsmouth, NH, or the New Hampshire Seacoast this year? We can point you to grant funds for your down payment or closing costs. Give us a call, and let’s talk.Here is a small sampling of the assistance we can guide you toward to help buy a home in Portsmouth, NH or other New Hampshire Seacoast towns.1. Up to $10,000 to help with your down payment and closing costs. You do not need a ton of cash to buy a home.2. Up to a $2,000 interest tax credit every year, you have a mortgage for the life of the loan!3. Credit scores as low as 6204. Income up to $129,600 in Portsmouth, NH5. Purchase price up to $525,000Let’s talk soon about making you a New Hampshire homeowner; it’s easier than you think. Here is our contact informationWe can put you in the photo b... 02/23/2023

Now that 2022 is over, we can look at the past year’s real estate activity and predict what 2023 might look likeThe chart below shows single-family home sales in Portsmouth for 2022. The median price ended at $730,000, an 8.2% drop from 2021.On the other hand, Portsmouth condos enjoyed a sizable increase in median prices. A 72.1% price increase to a median of $954,900.Read the rest of the blog and the 2023 predictions here 01/29/2023