Bank Owned Condo at Cranmore Birches in North Conway NH real estate

November 7, 2012 By Bill Barbin Leave a Comment

We're sorry, but we couldn't find MLS # 4196411 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Back to Home North Conway NH and Bartlett NH Condos Jackson NH Real Estate Bartlett NH Real Estate

QUICK LOAN MATH: $146K loan at 3.5% for 30 yrs. = $656/month + $400/month est. taxes and insurance + $142/month condo fee = $1198/month for a $2300sf townhouse with plowing and trash fees included!!

Bank Owned Cranmore Birches 3 Bedroom + condo in good condition. Deck and 2 balconies. Attached Garage. 1/4 mi. to Cranmore Mtn Resort. Townhouse style condo at Bank Owned prices!!
Call Me, Bill Barbin at 603-986-0385. I am the listing agent and will do my best to help you get this property. Work with any other agent and you will not get my help.

Listing Price: 163312
Address: G1 Cranmore Birches II
City: North Conway
State: NH
ZIP: 03860

MLS # (if any): 4196411
Square Feet: 2300
Bedrooms: 3-4
Bathrooms: 2.5
Basement (full, 1/2, finished, unfinished): Full, Finshed, Walk out

Home

Filed Under: Bartlett NH real estate, Jackson NH real estate, My Listings, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH Condos, jackson nh real estate, North Conway NH, North Conway NH bank owned real estate, North Conway NH condos, North Conway NH foreclosures

Should I Rent My House in the North Conway area If I Can’t Sell It?

August 12, 2012 By Bill Barbin Leave a Comment

There has been a lot written about how buying a home is less expensive than renting one in many parts of the country. Rents are skyrocketing and homes are at bargain prices. These two situations are also causing some sellers to consider renting their home instead of selling it. After all, they can get great rental income now and perhaps wait until house values increase in the future before selling.

This logic makes sense in some cases. We at KCM believe strongly that residential real estate is a great investment right now. However, there is a huge difference between deciding you want to become an investor (and landlord) and deciding that renting your primary residence might be ‘easier’ than trying to sell it. As a real estate professional, it is your job to educate the homeowner to the possible challenges that might arise if they rent their home.

Here are some questions every potential landlord should consider:

10 Questions to Ask BEFORE Renting Your Home

1.) How will you respond if your tenant says they can’t afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).

2.) Because of the economy, over ten percent of homeowners can no longer make their mortgage payment. What percent of tenants do you think can no longer afford to pay their rent?

3.) Have you interviewed a few experienced eviction attorneys in case a challenge does arise?

4.) Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?

5.) Will you allow pets? Cats? Dogs? How big a dog?

6.) How will you actually collect the rent? By mail? In person?

7.) Repairs are part of being a landlord. Who will take tenant calls when necessary repairs arise?

8.) Do you have a list of craftspeople readily available to handle these repairs?

9.) How often will you do a physical inspection of the property?

10.) Will you alert your current neighbors that you are renting the house?

Filed Under: Bartlett NH real estate, North Conway Foreclosures, North Conway NH bank owned, North Conway NH real estate Tagged With: Bartlett NH real estate, jackson nh real estate, madison nh real estate

Homeownership: The American Dream

July 19, 2012 By Bill Barbin Leave a Comment

Posted: 18 Jul 2012 04:00 AM PDT

As a real estate professional, it’s important to understand, and remind yourself, that homeownership really is the American Dream and your job is be the guardian and guide to make that dream a reality. This is especially important in a market where some people may be misinformed about the benefits and possibilities of buying a home.

The good news is 96% of homeowners see homeownership as a positive experience and 88% of renters aspire to own a home. This is true in the United States more than any other country. Owning a part of our country has always been the American Dream and as an agent you are instrumental in this dream. It’s your job to help guide people to their ultimate goal of homeownership.

The first thing you must realize is that homeownership is NOT about the money. In fact, if we look at Fannie Mae’s quarterly National Home Survey, as far back as we can go, the top four reasons for buying a home are the same. The top four reasons people buy a home are:

It means having a good place to raise children and provide them with a good education
To have a physical structure where their family feels safe
It allows for more space for their family
It gives them control over what they do with their living space including renovations and updates.

Homeownership means something more to people and their families than just financial considerations. It’s up to you to be ready to communicate ALL the advantages to homeownership, not just the financial ones.

In tomorrow’s post, we will address more advantages of homeownership.

Filed Under: Bartlett NH real estate, Jackson NH real estate, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH Condos, Bartlett NH real estate, jackson nh real estate, North Conway NH, North Conway NH bank owned real estate, North Conway NH real estate for sale, Tamworth NH foreclosure

The Real Value of Homeownership – It’s Not Monetary

June 27, 2012 By Bill Barbin Leave a Comment

The Real Value of Homeownership…It’s Not Monetary

Posted: 27 Jun 2012 04:00 AM PDT

There are numerous media sources reporting the advantages and disadvantages of homeownership. Every expert (from international money managers who have hundreds of billions of dollars of assets under management to local and national real estate experts) has chimed in on the subject. The bottom line is that the percentage of folks that own a home is going down.

This is largely because the amount of Echo-Boomers, adults from the ages of 18-34, are either still living at home or are renting. I write this blog post not for the hopes that those individuals will enter the world of homeownership (I am confident that they will when the time is right), but to give readers a real life experience of the value of homeownership. And it is certainly not monetary.

I grew up in a middle-class family. Both of my parents worked and were lucky enough to have steady employment for most of their careers. My father worked within the same industry for almost 30 years and retired at the age of 62 with my mother doing so as well. They purchased a simple home back in 1972 for about $35,000. At that time, their mortgage payment with taxes and insurance was about 40% of their take home pay. Needless to say, with all other household expenses, they were barely making ends meet. Their decision to buy a home was not made from the expectation of home appreciation and whether or not it was a good investment. No, they did not even remotely think of those points when closing on their home! Instead, their goal was to raise a family in a home which they could call their own. It would be a permanent place that their child could call home…a home in which they could have family gatherings for holidays such as Christmas and Christmas Eve which were always hosted by my mother and father. A home that when my parents came home from a long day at work they could walk into and relax. For a moment, they could feel like a burden was lifted off their shoulders and all the day’s work actually meant something. They were building a foundation of memories!

Childhood

I was born in 1974. I was lucky enough to have parents that had started to build the foundation that was the basis of memories that will last a lifetime. I can remember playing basketball and baseball in the driveway with my father and wrestling with my dogs on the front lawn. I remember waiting and looking out the window anxiously for all of my relatives to show up for the holidays. I remember the aroma of Christmas cookies and pies permeating the house. I remember all of my cousins and neighborhood friends retreating to the basement playroom during holidays where we would spend hours talking and playing with toys. We were establishing memories and friendships that carry on to this day.

Second Home

During the Summer, my father’s love for fishing and the ocean brought us to a campground on the shores of Cape Cod. My mother worked in the public school system which afforded her the summers off from work. From the time I was 7 years old, on the last day of the school year, we packed the car and headed off to the trailer for 3 months of beach going, fishing, and camping. My mother and I would stay down the Cape for the summer and my father would make the journey every weekend to join us. Again, I am blessed to have such great parents that allowed this to happen. In 1984, my parents, along with some campsite comrades, decided to purchase land and build a summer home for their respective families. The choice was a tough one. Both families knew it would be financially testing to complete such a task. However, in the long run, they felt it was the right decision. A permanent summer home where their families could congregate, host visitors, and relax from the week-long grind was worth the financial sacrifice. Again, this decision was not made in the hopes of financial gain; it was made for the good of their family.

I remember the construction of the home as if it were yesterday…from the pouring of the foundation, to the framing, to the day my father and I made our first overnight stay. We slept in cots in front of the fireplace that my father and his best friend built. The house was not finished but we were so anxious to stay in the house that we did so without plumbing or light fixtures. We had a blast! Those memories will last me a lifetime.

Fast Forward

Unfortunately, after a battle with cancer my father passed away on April 28, 2010 at the age of 69. A month earlier, my daughter, his first grandchild was born. Tragically, my daughter will never have the privilege to meet my father and my best friend. But while sitting on the Cape house deck in the very chair my father always relaxed in, watching my wife and mother play with Riley in her wading pool, I came to realize something. So many of us look at homeownership through “monetary glasses”. When one is buying a house as a primary or secondary residence and is hoping to stay a while, homeownership is not about the monetary/price appreciation aspect of purchasing the home. It is about building a foundation of memories for you and your loved ones. I count my blessings that my parents thought this way. It is because of their wise decisions, that the foundation they built will be enjoyed for generations to come.

The Real Value of Homeownership is Not Monetary.

Filed Under: Bartlett NH real estate, Buying a NH home, Jackson NH real estate, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH real estate, conway lake homes, freedom nh real estate, jackson nh real estate, madison nh real estate, North Conway NH real estate for sale, ossipee lake homes, ossipee nh real estate, tamworth nh real estate

Everybody Calm Down! The Sky Is NOT Falling

June 6, 2012 By Bill Barbin Leave a Comment

Posted: 05 Jun 2012 04:00 AM PDT

After weeks of continuous good news about the housing market, the naysayers jumped all over this month’s Pending Sales Report from the National Association of Realtors (NAR). Pending sales were down from the previous month. This must be proof that all that other positive news on real estate should be ignored – right? WRONG!!

It is true that this month’s numbers were down from last month. However, we must realize we are comparing the numbers to the best month in two years. The numbers are 14.4% higher than the same month last year. Below is a graph showing the pending sales numbers over the last two years. You can decide whether it is showing a recovering market or not.

Everybody Calm Down! The Sky Is NOT Falling.

Filed Under: Bartlett NH real estate, Jackson NH real estate, North Conway Foreclosures Tagged With: Bartlett NH, Bartlett NH condo, Bartlett NH Condos, Bartlett NH real estate, Bartlett NH ski chalet, jackson nh real estate, North Conway NH bank owned real estate, North Conway NH foreclosures

Vacant Homes Pose Risks for Agents by Inman News

June 5, 2012 By Bill Barbin Leave a Comment

Vacant homes pose risks for agents

Squatters — or worse — may be lurking in REOs

By Inman News, Tuesday, June 19, 2012.

Inman News®

<a href="http://www.shutterstock.com/pic.mhtml?id=28422466">Vacant home</a> image via Shutterstock.

Vacant home image via Shutterstock.

By DAVID W. MYERS

It was a typical balmy Southern California afternoon when veteran agent Stephanie Janeshak of Tarbell Realtors in Corona stopped by a modest-sized foreclosed home to give it a preview before showing it to one of her clients.

She had toured dozens of vacant properties before and was comfortable with the task — so much so that she brought her 2-year-old toddler with her because a babysitter wasn’t available.

The front of the home was in fairly decent shape, Janeshak recalls, so she retrieved the keys from the lockbox on the door and walked in. The kitchen looked OK, and so did the living room; there were no broken windows or graffiti on the walls, two tell-tale signs that the home might be occupied by squatters or drug dealers.

And then, she opened the door to the bedroom.

http://www.inman.com/news/2012/06/19/vacant-homes-pose-risks-agents

Filed Under: Bartlett NH real estate, Buying a NH home, Jackson NH real estate, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH Condos, Bartlett NH real estate for sale, Bartlett NH ski chalet, jackson nh real estate, North Conway NH bank owned real estate, North Conway NH commercial lease, North Conway NH Commercial real estate, North Conway NH condos, Tamworth NH foreclosure

Nearly 16M Homes Are Now Underwater

May 30, 2012 By Bill Barbin Leave a Comment

Posted: 30 May 2012 04:00 AM PDT

Zillow just reported that their data shows nearly 16 million homes in this country are now in a negative equity position where the house is worth less than the mortgages on the home. This number is dramatically higher than the approximate 11 million reported by other entities. Why the huge difference? Zillow professes to take into consideration ALL loans on the property not just the most recent loan (purchase or refinance).

The key findings in the study:

Nearly one-third (31.4 percent) of U.S. homeowners with mortgages – or 15.7 million – were underwater on their mortgage.
A slower pace of foreclosures after the robo-signing issues of 2010 contributed to slower progress in working down negative equity. Foreclosures cause homes to come out of negative equity when a bank or third party takes ownership.
Nine in 10 homeowners continue to make their mortgage and home loan payments on time, with just 10.1 percent of underwater homeowners more than 90 days delinquent.
Nearly 40 percent of underwater homeowners, or 12.4 percent of all homeowners with a mortgage, owe between 1 and 20 percent more than their home is worth.
An additional 21 percent of underwater homeowners, or 6.6 percent of all homeowners with a mortgage, owe between 21 and 40 percent more than their home is worth.
About 2.4 million, or 4.7 percent of all homeowners with mortgages owe more than double what their home is worth.

How can negative equity impact the housing market? In the report, Zillow Chief Economist Stan Humphries explains:

“Not only does negative equity tie many to their homes, by making homeowners unable to move when they may want to, but if economic growth slows and unemployment rises, more homeowners will be unable to make timely mortgage payments, increasing delinquency rates and eventually foreclosures.”

Nearly 16M Homes Are Now Underwater.

Filed Under: Bartlett NH real estate, Buying a NH home, Jackson NH real estate, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH, Bartlett NH condo, Bartlett NH real estate, jackson nh real estate, North Conway NH, North Conway NH bank owned real estate, North Conway NH real estate for sale, North Conway NH ski house

Sales Are Up. Prices Still Have a Way To Go.

May 15, 2012 By Bill Barbin Leave a Comment

Posted: 15 May 2012 04:00 AM PDT

We believe the housing market is recovering. We believe that sales will be robust through the rest of the year. However, we also believe that the increase in demand will not impact prices in a big way as we think there will also be an increase in the supply of homes coming to the market. This increase in supply will offset the increase in demand. The increase in supply will be fueled by two categories of inventory:

Foreclosures entering the market as a result of the National Mortgage Settlement
Pent up supply of homeowners who have been unable to sell their homes over the last several years

There have been several recent headlines making strong statements about home values in the country. We must be sure to read the ENTIRE report – not just the headlines. Here are four headlines and the portion of the report that reflects the caution in their ‘cautious optimism’.

HEADLINE:

LPS Home Price Index Shows U.S. Home Price Increase of 0.2 Percent in February; Early Data Suggests Further Increase of 0.3 Percent is Likely During March

CAUTION:

“Reasons for caution are clear, as we’ve been here before. Non-seasonally adjusted prices increased for a few months in early 2009, 2010 and 2011 – trends that all ended by summer, after which all the gains – and then some – were lost. As is true this month, those temporary increases were on low sales volumes – about 30 percent lower than at any point since 1998. Furthermore, the inventory of distressed homes remains high, which will continue to put a drag on prices.”

HEADLINE:

Foreclosure hotspots show signs of housing turnaround

CAUTION:

“However, much will depend on the continued health of our economy, specifically job rates, and how lenders will release their foreclosure inventories now that the 49 state AG Agreement has been signed.”

HEADLINE:

Fiserv Expects Home Prices to Stabilize

CAUTION:

“On the other hand, nearly one-half of the metro areas, or 191, saw prices decrease by more than 2 percent, including double-digit losses in Atlanta (-12.8 percent), Reno, Nevada (-10.8 percent), and Tucson, Arizona (-10 percent).

In the fourth quarter of 2011, the average price of a U.S. single-family home fell four percent from the year-ago period, and Fiserv Case-Shiller projects a further decline of 0.8 percent by the end of 2012.”

HEADLINE:

Home Prices in March Show Monthly Gain: CoreLogic

CAUTION:

“Even with price gains above 5 percent for leading states and CBSAs, Capital Economics said in response to the CoreLogic report that over the year, prices are more likely to stabilize rather than make a dramatic climb.

“There are fears in some quarters, triggered by recent disappointing GDP and payrolls data, of a sharp slowdown in economic growth which could derail the fledgling improvement in the housing market,” said Paul Diggle, property economist for Capital Economics.”

Sales Are Up. Prices Still Have a Way To Go..

Filed Under: Bartlett NH real estate, Buying a NH home, Jackson NH real estate, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH, Bartlett NH condo, Bartlett NH real estate for sale, Bartlett NH ski chalet, jackson nh real estate, North Conway NH, North Conway NH bank owned real estate, North Conway NH Commercial real estate, North Conway NH homes for sale, North Conway real estate, Tamworth NH foreclosure

Finding a Short Sale Expert

May 12, 2012 By Bill Barbin Leave a Comment

Posted: 11 May 2012 04:00 AM PDT

This week, we have spoken about the importance of using an agent trained in the short sale process when selling or buying a home as a short sale. Today, we want to address how to identify those agents who are truly qualified. There are many local instructors who have done excellent work in this field. We appreciate their dedication and commitment. However, there are three designations recognized on a national basis. Here they are:

Certified Distress Property Expert (CDPE)

One of the first designations available in the field, CDPE has reached the milestone of 40,000 real estate professionals trained in foreclosure avoidance tools and strategies through the Certified Distressed Property Expert (CDPE) Designation course. CDPE is the fastest-growing independent designation in real estate industry history.

The CDPE designation is administered by the Charfen Institute which educates and trains real estate professionals and small business owners to find opportunities in chaos – either by providing solutions to the foreclosure crisis or empowering entrepreneurs with strategies to embrace their companies’ full potential.

The growth of the CDPE designation has been assisted by the support of top brokerages, including RE/MAX, LLC, Keller Williams Realty Inc, and Century 21 Real Estate LLC, as well as industry icons such as Chairman and Co-Founder of RE/MAX Dave Liniger, RealtyTrac, Realogy, Fannie Mae and Founder of Buffini & Company, Brian Buffini.

Short Sale and Foreclosure Resource Certification (SFR)

This is the designation offered by the National Association of Realtors (NAR). The SFR Certification is NAR’s short sale training program developed and continuously updated by industry leaders. The training covers both the seller and buyer side of the short sale transaction. Designed to prepare the agents for the short sale process from the first meeting with the seller through the marketing, contract writing and submission of the short sale package it has prepared over 50,000 REALTORS® across the country to successfully navigate the distressed property waters.

Short Sale Certified (SSC)

A newer entry into the field, the Short Sale Certified designation (SSC) focuses on local laws and trends in the agent’s footprint. The course was developed by Brandon Brittingham, a top producing agent who has personally completed several hundred short sales, and Gee Dunsten, a former national CRS president who has instructed and written short sale courses all over the country and is considered an industry expert.

SSC has just announced an alliance with the Leading Real Estate Companies of the World to offer short sale training to the 100,000+ agents in the network. This will include live training as well as distance learning.

Finding a Short Sale Expert.

Filed Under: Buying a NH home, NH Bank Owned, North Conway Foreclosures, North Conway NH bank owned, North Conway NH foreclosed real estate, North Conway NH real estate Tagged With: Bartlett NH, Bartlett NH condo, Bartlett NH Condos, Bartlett NH real estate, Bartlett NH real estate for sale, Bartlett NH ski chalet, jackson nh real estate, North Conway NH, North Conway NH bank owned real estate, North Conway NH real estate, Tamworth NH foreclosure

Short Sales: The Mortgage Originators Role in the Process

May 10, 2012 By Bill Barbin Leave a Comment

Posted: 10 May 2012 04:00 AM PDT

A key component to the success of a short sale involves working with a Mortgage Originator who is well versed in the short sale process. The short sale negotiation process is a patience testing task. The complications are many, however if the buyer is securing mortgage financing and is working with an originator that understands that short sale process the buyer and seller can be rest assured, in most circumstances, that the transaction will get to the closing table.

There a 5 key questions to ask when choosing an Mortgage Originator for the purchase of a short sale transaction.

1.) Are they versed in the Anatomy of the Short Sale process?

The proper mortgage origination process pertaining to a short sale purchase is a bit different than a normal non-distressed property purchase. However, it is always my belief that in order to lead the cavalry one must have sat in the saddle. Putting this in terms of the short sale process, in order to originate a loan for a buyer who is interested in a short sale, one must understand the entire anatomy of the short sale process. This includes the challenges that the sellers faces regarding financial difficulty and hardship, the challenges that the selling agents face regarding listing and negotiating the short payoff and most importantly the strict timelines that come along with a short sale transaction.

2.) Will they issue a “TRUE” pre-approval prior to Short Sale approval?

A complete short sale package should include a mortgage pre-approval for the buyer if the buyer is securing mortgage financing to purchase the property. The originator should have taken a full mortgage application, documented income, assets, reviewed the buyers credit and submitted the file through the appropriate automated underwriting service (ex DU,LP) prior to issuing a pre-approval letter to the buyer.

The pre-approval process for a short sale transaction should not be any different than the pre-approval process in a non-distressed sale. Having said this, we have closed over 2500 short sale transactions nationwide. Many times, because of the long timeframes that are involved in a short sale, originators are not properly pre-qualifying the buyer prior to short sale approval. Originators are waiting until the short sale is approved by the short selling bank to submit the client profile to underwriting and is some cases to even issue a complete pre-approval. That is too late! In every circumstance the pre-approval process should be done thoroughly before the short sale approval.

3.) Will they order the appraisal prior to Short Sale approval?

In a non-distressed sale typically, once the purchase contract is signed, the Mortgage Originator or their processing team will then order the appraisal for the property so that it may be reviewed by underwriting. Underwriting will then make sure the property is acceptable as collateral based upon the loan that is being applied for.

This process should hold true if the buyer is buying a short sale. Many times however, the appraisal is not ordered until the short sale is approved by the short selling bank. Often, this will delay the closing timeframes. Also, consider this, if the short selling bank based upon their appraisal, counters they buyer with a higher price, the buyer who has already had their appraisal done will have the ability to issue a rebuttal based on their appraisal. The Buyer’s/Lender’s appraisal is a great tool to negotiate value disputes with short selling banks.

4.) Will they communicate with the Short Sale Negotiator?

There is one line of communication that is a must during a short sale. This is the communication between the Short Sale Negotiator and the Mortgage Originator. The Mortgage Originator should be in touch with the negotiator on a weekly or bi weekly basis to obtain the status of the negotiation. It is imperative that the originator be informed of such deadlines as closing dates, approval expirations, BPO time lines, contract changes etc.

5.) Will they keep the Buyer engaged throughout the process?

In a non-distressed sale the timelines are usually short from pre-approval to closing. The potential buyer will obtain a pre-approval for mortgage financing; they will shop for a home, make an offer and then close on the property. Most cases this process takes between 30-60 days.

In contrast, the short sale purchase timeline could take the normal 30 to 45 days of shopping but, from the time a buyer puts an offer on a property to the time they actually close could take 90-120 days. During this time frame, the mortgage originator must keep the buyer engaged. The information gathered in the pre-approval process meaning paystubs, bank statements etc. will need to be updated appropriately so that when the short sale bank issues their approval the buyer is ready to close on time and within the approval guidelines. All too often short sale negotiators are asked to obtain short sale approval extensions from the short selling bank because the buyer could not close on time. Most of this stems from the Mortgage Originator scrambling to obtain last minute documentation that could have been avoided if the buyer’s credit file was routinely updated throughout the entire short sale process.

In closing, with the abundance of short sale transactions permeating the marketplace, it is imperative that all interested parties to a short sale work with a Mortgage Professional that understands this segment of the marketplace. By keeping the 5 questions above in mind, you may alleviate the possibility of a short sale transaction failing because of buyer financing falling apart.

Short Sales: The Mortgage Originators Role in the Process.