Manchester, NH Real Estate News

By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
The Real Estate market continues to change this summer with a slow down in sales. Interest rates though, fell slightly with the sharp drop in new mortgage applications. The amount of new listings coming on the market remained the same as last week. Prices have leveled off in most areas. We are not seeing a reduction in actual market values though, BUT are seeing a great reduction of prices on those homes that were listed over to way over what their value actually was. Over pricing a home is one of the leading causes of a home not selling.   You as a consumer have a choice. Not all agents are created the same. Experience matters more than ever as the market changes. Knowing what to expect next. Knowing how to approach these changes. Knowing how to better guide you as a buyer or seller t...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
Manchester NH Real Estate Market REPORT August 1, 2022. The market continues to change in the last week. With a slow down in sales Interest rates actually fell slightly. The amount of new listings decreased last week while the amount of sales stayed near the same as last week. The fed meets the end of the week, so acting now is a better option than when they raise rates again. You as a consumer have a choice. Not all agents are created the same. Experience matters more than ever as the market changes. Knowing what to expect to next. Knowing how to approach these changes. Knowing how to better guide you as a buyer or seller through these changes matters and comes with experience.   IF YOU ARE THINKING OF BUYING WHAT SHOULD YOU DO?: The first thing is that buying at a lower interest rate...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
The market continues to change in the last week. With a slow down in sales Interest rates actually fell slightly. The amount of new listings decreased last week while the amount of sales stayed near the same as last week.  The fed meets the end of the week, so acting now is a better option than when they raise rates again. You as a consumer have a choice. Not all agents are created the same. Experience matters more than ever as the market changes. Knowing what to expect to next. Knowing how to approach these changes. Knowing how to better guide you as a buyer or seller through these changes matters and comes with experience.  IF YOU ARE THINKING OF BUYING WHAT SHOULD YOU DO?: The first thing is that buying at a lower interest rate will mean a lower payment and more buying power. As rate...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
Quietly the amount of Bank Owned homes in New Hampshire has climbed slowly. The few of us REO Brokers who stayed with the banks throughout the boom are seeing a slow but steady flow of listings. You should know the process of getting a home on the market and available for offers has slowed a thousand times over what it was. It takes time to get the foreclosure deed recorded. Get the home free of occupants and belongings. Then get it appraised and on the market. What took months can be years these days.  WHAT IS IT LIKE TO BUY A BANK OWNED HOMES? The first thing you should know is you need to do some research. Most Bank Owned homes are sold AS IS. The bank will not allow an inspection contingency in most cases. Others are cash only. New to the bank owned scene is having the bank auction ...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
We experienced lots of changes in the last week where the amount of new single family home listings almost doubled. Although Interest rates fell slightly to 5.3% on average, but look for them to rise this week as the fed is predicted to raise rates again. The amount of sales stayed near the same as last week. We ended the week with 62 homes for sale in Manchester which is the highest amount in years. MANY BUYERS ARE PONDERING TO BUY NOW OR WAIT: The first thing is that buying at a lower interest rate will mean a lower payment and more buying power. As rates increase, your buying power decreases, monthly payments rise and the sales price you can purchase falls sharply. The down side is rents and home prices are still increasing. It costs more to rent than purchase though.Perhaps the best...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
The amount of homes on the market rose sharply last week. Interest rates though, actually fell slightly after a steady rise. We see a great deal of confusion with what is happening in our local Real Estate Market. With a decrease in new mortgage applications, market forces have driven down interest rates last week. It may be a short term blessing for buyers who buy now, as the fed promises more increases in rates this year. WHAT ARE SOME TRENDS WITH BUYERS? The first thing is that buying at a lower interest rate will mean a lower payment and more buying power. As rates increase, your buying power decreases, monthly payments rise and the sales price you can purchase falls sharply. Perhaps the best news to buyers is there are more homes to see. The largest trend is sellers now willing to ...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
After 4 weeks of an increase in homes coming on the market, last week saw a decline in new listings. As you know, Interest rates remain up. We are seeing some houses sell fairly quickly while other homes stay on the market longer. We are seeing more price reductions in some areas for homes that were over priced. Values in the Condo Market are now stationary while single family homes are still increasing slightly in value. With a shortage of new listings, we do not expect a sharp decrease in prices anytime soon as demand outpaces homes for sale. We saw a new trend in multi family homes with more than ever being listed and sold now. Many investors are looking to cash out while prices are on top.  PEOPLE ASK WHEN THE "CRASH IS COMING"? The first thing you should know is a "CRASH" like we s...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
Every one is saying the Real Estate Market us changing. To see trends lets look at SALES in Manchester NH for the first half of 2021 VS the first half of 2022. The amount of SINGLE FAMILY Home sales is nearly the same with 1 more sale in 2021 over 2022. The biggest change in 2022 is that HOUSES INCREASED $53,000 on average in 2022 over 2021.  .The amount of CONDOMINIUM sales shows 32 less sales in 2022 from 2021. The biggest change in 2022 is that HOUSES INCREASED $36,000 on average in 2022 over 2021.  WHAT SHOULD YOU EXPECT FOR THE 2ND HALF OF 2022? Interest rates will continue to rise. It means buyers can buy less of a home if you wait. The amount of homes on the market is increasing. Sales have stayed strong in single family but are decreasing with Condos. In the Single Family market...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
New trends are arising in our Real Estate Market. The amount of new single family homes "For Sale" is up sharply. Interest rates rose again. The amount of both single family and condominiums that are "Sale Pending" both went down for the first time.  Sadly this is the plan as stated by the government to slow the economy. We are seeing houses stay on the market longer and seeing more price reductions in some areas. Values in the Condo Market are now stationary while single families have a slight rise.  WHAT SHOULD YOU KNOW? The first thing you should know is a "CRASH" like we saw in 2007-2008 is not on the horizon. Let me tell you why... Banks are still lending money. Banks are not going out of business like 2007. Then most important is there is no wave of immediate Foreclosures to tank ...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
We are proud to announce this property has SOLD AND CLOSED. Yes, we sell Commercial and Residential Properties. A 7513 SF building with two full floors and a full basement. It has new windows on second floor and brand new roof. It offers a large bay door to a loading dock.   Scott Godzyk of the Godzyk Real Estate Services is the Exclusive Listing Agent for this sale.  Let us show you there is a difference. Experience matters....   Please email sctprop@aol.com or call 603.661.2121 with questions if you would like to buy or sell a home.   WE CAN SELL YOUR PROPERTY TOO!!!  CALL TODAY FOR A FREE MARKET ANALYSISTO SEE WHAT YOUR HOME IS WORTH Search the MLS Multiple Listing Service by Clicking Here  SOLD Built in 1910 Size 7513 SF LOT SIZE: 0.11 acre If you are thinking of buying a Property p...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
We continue to see changes in the Real Estate Market. Interest rates jumped 5.23% to 5.78% on average. The amount of new single family listings came down while new condo listings went up sharply. We saw the greatest amount of price reductions on existing listings in some time. Times are changing and this is where your choice in agent matters more than ever.  Lets look at some trends we are seeing in Real Estate in our area. The FIRST thing you should do if you were thinking of Buying or Selling a home is talk to a Local and Well Experienced Agent. Did you know that all agents are not experienced in "How to Sell a home in a changing market." Whether assisting in Listing a home or as a buyer broker, many have never experienced such a market. Experience comes by doing and you as a consumer...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
There is no shortage of calls and emails all asking 'What changes can we expect with the Local Real Estate Market. It is shocking to learn how much confusion there is out there. So many questions but so many different answers people are receiving. From the media to the internet to agents who have never experienced such changing conditions in a market.  Lets have a "STRAIGHT TALK" about what to expect and what we are seeing now. First lets talk about SELLING YOUR HOME then lets talking about BUYNG A HOME. For those LOOKING TO SELL THEIR HOME. Prices are stabilizing. Some of the most desired areas are getting full price still. Those homes needing work are selling, but pricing can differ. Some of the best homes are getting 4-5 offers the first day where they used to get 20 plus offers. Som...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
We are proud to announce this home has SOLD and is now CLOSED. Having gone under contract in less than 72 hours with multiple offers. The Buyer and Seller were very happy with the transaction.  Located at 1531 Candia Road in Manchester NH. An affordable home saw 3 full days of showings with highest and best offer at the end of the 3rd day. The Home Seller was very happy being happy to close when he wanted. The home buyer is thank full to get their dream home. Exclusively listed by Scott Godzyk of the Godzyk Real Estate Services.  Let us show you there is a difference. Experience matters....   Please email sctprop@aol.com or call 603.661.2121 with questions if you would like to buy or sell a home.   WE CAN SELL YOUR PROPERTY TOO!!!  CALL TODAY FOR A FREE MARKET ANALYSISTO SEE WHAT YOUR H...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
This week promises more Market changes, but not how most people are thinking or predicting. Interest rates actually came down to near 5.09% on average last week with a sharp decrease in new mortgage applications. The amount of houses on the market increased sharply as new listings increase. The amount of listings though, is still down near 49% from 2020. Some of the bigger changes to the market are homes that are over priced are not selling. We are seeing a variety of price decreases on over priced homes over time.  The HARD FACTS are that instead of 20 plus offers on a new listing, we see perhaps 4-5. One of the biggest factors is that location matters. We see that what school is in your neighborhood matters. We also see the condition of the home matters. We see the BEST offers coming ...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
Real Estate deals can end for a wide variety of reasons. Let me tell you the tale of how a Garden Hose, killed this sale. I got a call from Home Seller asking if I could help them save their sale. They did not list with me. They listed with a new agent who Mrs. Seller wanted to help them with their first sale.    They told me they ended up in a war with their buyer and the buyer killed their sale. Before I could tell them I really can not help if they are listed with someone else, they told me what started their recent problems. They said upon the walk through the buyer got upset they took the garden hoses.   Wait a second, the buyer was willing to kill the deal over a garden hose? Even more, you as the seller were willing to kill the sale over a garden hose? Wait, your agent was also ...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
How many Homes are FOR SALE in Manchester NH and surrounding towns? With the arrival of Summer, we are seeing some changes in our Real Estate Market. Interest rates are rising. We are seeing more homes come on the market, however there is still more buyers than sellers. Everyone wants to know is "How many homes are For Sale in our area?" New Listings are still coming on the market at a faster pace. Now is the time to list before rates go up again. Lets take a look at what is for sale and what the average prices are for Manchester NH area and surrounding towns in our Real Estate Market.  Whether you are Buying a home or Selling a home, the one FACT is... to do well in this market you need an advantage. Who you hire to list and sell your home DOES matter. Experience and Great service are ...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
Memorial Day is here as we honor those who sacrificed the most. It is the unofficial start of summer. It is also the start of the summer real estate market. Today we look back at our Spring Real Estate Market to see what trends are taking shape. We see an increase in homes coming on the market. We see a steady amount of homes going under contract. We also see an increase in interest rates once again on the horizon. The HARD FACTS are that instead of 20 plus offers on a new listing, we see perhaps 5. We see that location matters. We see that what school is in your neighborhood matters. We also see the condition of the home matters. We see the BEST offers coming in the first day. Often a buyer who lost out on a home in the past. They make their highest and best offer first. We see many se...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
The amount of homes coming on the market increased greatly last week in the Manchester NH area. The amount of single family homes for sale went up sharply last week. The amount of pending sales remained steady. We are seeing home that are not selling the first week they are listed any longer. Being priced too high for their condition or their neighborhood, seems to be the leading reason. Look for this trend to continue, We are also seeing a trend with banks being tougher on borrowers. the criteria to get a mortgage is stricter. Appraisals are coming in lower. Some warranted but some not warranted. Look for appraisal issues to continue. The one thing that will matter more than ever is the real estate agents ability to handle these lending and appraisal issues now and in the future. Exper...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
It was quite a week in Manchester NH area Real Estate Market. We saw a giant increase in new listings hitting the market. Many of the homes going under contract in less than a week. Interest rates rose to 5.3% on average. With additional increases promised by the FED, buyers are hurrying to buy now.We are seeing a great deal of relocation buyers coming to NH for our great jobs. We are also seeing a great deal of first time buyers still entering the market. One of the most steady buyers is those looking to downsize now as well.  The fact most people are not getting is that the longer you wait, the more it will cost you to buy with these higher interest rates. We are seeing new listings not selling when they are over priced. Many home sellers are now wondering if they waited too long to s...
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By Scott Godzyk, One of the Manchester NH's area Leading Agents
(Godzyk Real Estate Services)
The Real Estate Market continues to change. New listings as well as the amount of homes on the market increased. Interest rates ticked up again. We are seeing a steady amount of relocations to our area and a steady amount of first time buyers. The fact most people are not getting is that the longer you wait, the more it will cost you to buy with these higher interest rates. Many agents are changing brokerages looking for more clients. Many home sellers are now wondering if they waited too long to sell. Bidding wars are dwindling. The amount of buyers is decreasing as a whole. There is BIG differences from town to town and neighborhood to neighborhood. Great school districts and desired neighborhoods are still seeing a good amount of action. Over priced homes are now starting to sit in o...
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Manchester, NH Real Estate Professionals