You may have heard about the recent settlement in the National Association of Realtors (NAR) case, and it’s stirred up quite a bit of talk. But let’s clear up some misconceptions. This settlement isn’t about reducing the value of what real estate pros bring to the table or making homeownership harder to achieve. Instead, it’s a chance to improve transparency, flexibility, and, most importantly, the overall experience for consumers in real estate transactions. Let’s dive into what this settlement means, focusing on the positives for consumers and how we, as dedicated agents, are pivotal in shaping this new chapter in real estate. The Reality of Broker Fees Real estate fees will stay the way they’ve always been – fully negotiable between the Realtor and their clients. Whether you’re buyin... 04/03/2024

What is a bridge loan?A bridge loan is a temporary loan that helps “bridge” a gap for you. It can allow you to buy a new home before you sell your old one. You can borrow money based on the equity in your current home to use for the down payment on your new home. Then, when you sell your old home, you can use the money to pay off the bridge loan.How does a bridge loan work?A bridge loan works by providing short-term financing to help you buy a new home before you sell your current one. Here’s how one typically works: Application: You apply for a bridge loan with a lender, providing details about your current home, the new home you want to buy, and your financial situation. Approval: If approved, the lender will determine the loan amount based on the equity in your current home and other... 03/26/2024

We hear questions like this one often these days.“I’m thinking of selling my home in Portsmouth, but the value has increased substantially since we bought it. Will we have to pay a lot of taxes if we sell?”                            The best answer is maybe…….or maybe not. There are several ways for you to keep some or all of your profits if your home’s value has increased.First, let’s be clear on what a capital gain is.A capital gain is the profit you receive when you sell your house and pay off any mortgages and selling expenses. Here’s how a capital gain on the sale of residential real estate is calculated: Calculate the Cost Basis: This is the original purchase price of the property, including any additional costs such as closing costs, legal fees, and real estate agent commissions... 03/13/2024

Buying a home is usually the largest purchase and financial commitment most people make in a lifetime. The process of finding and buying a home is both exhausting and complicated. For those reasons, you should find an experienced, local REALTOR in Portsmouth, NH, like Jim Lee and Ann Cummings from RE/MAX Shoreline, to guide you through the process, represent only you, and ensure your best interests are protected from start to finish. Here’s why Ann & Jim are your best choice. Source: NAR 2023 Profile of Home Buyers and SellersTypically there are two REALTORS involved in a real estate transaction.1. The Listing Agent works directly with the seller and represents them.2. The Buyer’s Agent works with the buyers and represents them.Both agents are legally bound to represent only the interes... 03/10/2024

No homes for sale? Look again. If you’re looking to buy a home on the New Hampshire Seacoast you need to have the latest information on the housing market. To help you make that possible, here’s an update on the supply of Seacoast homes for sale today. No matter if you’re looking to buy of sell, the number of homes available in your local market matters. See the chart below; there are currently 268 single family homes and condos available in the NH Seacoast, a 3.9% increase from the same time period in 2022. New Hampshire Seacoast single-family homes and condos for sale as of November 21, 2023Housing inventory is up in almost every state in the country. More homes for sale but are they selling? The answer to that question would be “yes”. Pending sales are sales that are in process but n... 11/21/2023

In today’s fast-paced world, the dynamics of family living have evolved.With changing economic landscapes and societal norms, multi-generational homes have become increasingly popular. A multi-generational home, defined as a residence where two or more adult generations live under one roof, offers many advantages. If you are considering buying a home in the charming city of Portsmouth, NH, or the New Hampshire Seacoast, exploring a multi-generational home might be the key to unlocking a convenient and financially prudent living arrangement.What is a multi-generational home?Financial Stability and Shared ExpensesBuying a multi-generational home can provide significant financial benefits. Shared living spaces mean shared expenses, from mortgage payments to utility bills. This collaborativ... 11/06/2023

The September market statistics are out for Portsmouth, New Hampshire. Read on to see the latest Portsmouth property trends. The average price for a Portsmouth single-family home in September was $628,156, that’s a 26.8% decrease from the same time period in 2022. The Portsmouth condo average was $$1,030,245, a 9.8% jump from September 2022. There were 25 closed sales of single-family homes and condos in September vs. 38 in 2022. That’s a 34.2% drop. Because Portsmouth is a fairly small market area, the short-term data shows some wide fluctuations but the overall, long-term pricing trend is very robustly up. What does the rest of 2023 look like for the Portsmouth NH real estate market? Total pending sales of both single-family homes and condos in September were 31, a 10.7% increase from... 10/10/2023

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