Archive for the 'Lebanon NH Real Estate for sale' Category

As the real estate season starts to unfold here in the Hanover/Lebanon area in 2010, there are several major condominium developers in the market that are aggressively trying to sell their product.

Carol and I recently met with Kevin and Shannon Purcell who are the developers behind Natures Walk condominiums in Lebanon.   They have sold 50 % of the project thus far and are optimistic the remaining 17 units will be absorbed into the market in the next year or so.  If you are looking for single level living with an on site fitness center and easy access to walking trails, Nature Walk is worth considering.

Quarry Hill is another new condo development in Lebanon that is aggressively looking to move units in 2010.  We have helped a Buyer in 2010 purchase one of their units and we can attest to the flexibility and responsiveness of the Developer.   A particular advantage of working with this group is the opportunity to modify the floor plan to your needs.

Westboro Woods, along with all area developers has suffered the effects of the declining real estate market and economy.  The developer of this project has been steadily dropping prices to accommodate for the lackluster demand in the market.  With these units now priced in the +-$200,000 area I think they are priced well for what they offer.

Gile Hill in Hanover has reached the end of Phase one of their development plan and are now on to phase two with some new products.  They are adding townhomes with attached garages to the mix this year, which I expect will be well received.  They are priced between $300 and $400,000 depending on size, style and location in the complex.  Being “Green Built” and on the access road for Dartmouth Hitchcock Medical Center should continue to draw buyers to this complex.

If you are looking for a condominium in the Hanover/Lebanon area, give us a call, we help people buy them all the time.

Matt & Carol

Real Estate Stats for Lebanon NH

The Lebanon NH real estate market is showing some interesting stats for the 1^st part of 2010.  The following statistics are taken from the Multiple Listing Service.

In the 1^st 2 months of 2010 the number of single family homes sold in Lebanon NH are down by 22% from the same period in 2009 ( 7 in ’10 – 9 in ’09). The good news is that the average selling price was up 25% ($257,625 in ’10 – $190,700 in ’09). The average days on market was up 44% (161 in ’10 – 90 in ’09).

As of the 28^th of February there had been no condo sales in Lebanon. In 2009 there had been 8 sales.

More Later!
Carol

Real Estate Stats for Hanover NH

The Hanover NH real estate market is starting to show improvement in the first couple of months of 2010.  The following statistics are taken from the Multiple Listing Service.

In the 1^st 2 months of 2010 the number of single family homes sold in Hanover NH are up by 65% from the same period in 2009 ( 9 in ’10 – 4 in ’09). The other good news is that the average selling price was up 30% ($580,825 in ’10 – $402,000 in ’09). The average days on market was up 11% (112 in ’10 – 99 in ’09). The challenge continues to be in the homes over $1,000.000.

In the 1^st 2 months of 2010 the number of condominium sold in Hanover NH was down 25% from the same period last year (6 in ’10 – 8 in ’09).  The average selling price in down 18% from ’09 ($304,167 in ’10 – $372,898 in ’09). The average days on market was up 15% (339 in ’10 – 287 in ’09).

More later on Lebanon Home & Condo sales!

Carol

A client of mine called the other day with some interest in a to be built home listed at the Prospect Hills development in Lebanon.  Having read in the Valley News about the difficulties the Moulton family had encountered with their bank,  I called Melissa Robinson of Lang, McLaughry, Spera Real Estate who is marketing the project to see what the situation is today.   Melissa lives in the original Prospect Hills neighborhood and is a strong advocate for the development.  She was very open and informative, basically it boils down to the project is in bankruptcy and the judge handling the process understands that the best way to resolve the situation is to build and sell homes to generate funds for payment to creditors.   A Buyer might perceive some risk in a circumstance such as this, but as with all risk, there is often opportunity as well.  It will be interesting to see how things unfold at Prospect Hills over the next few years.

More later ……… Matt

Recently I spoke with Miro Weinberger about phase two of Gile Hill project now under construction and targeted for occupancy in early 2010.  Miro is one of the principals of the Hartland Group and has been the driving force behind the development. Gile Hill is located in Hanover, New Hampshire on Medical Center Drive which is the access road for the Dartmouth Hitchcock Medical Center.

It was interesting to hear from Miro how the Hartland Group has adapted their plans as the economy and housing market have changed over the past year.  The most significant change is that Estes & Gallop of Lyme NH has replaced Trumbull Nelson of Hanover NH as the general contractor for the project. Miro indicated that rebidding the buildings in 2009, along with a better understanding of what consumer’s value, will help them deliver a better product well suited for the market in 2010. (more…)

New version of the Home Buyers Tax Credit!

For information and most asked questions this is a good article by Laura Saunders in the Wall Street Journal!

Sales for Condominiums in Lebanon NH

The following statistics are from the Multiple Listing Service (MLS).

The Condo market in Lebanon NH has not faired well in the ¾ Quarter.  Sales are down by 42% (33 in ’08 to 14 in ’09).  The average sale price is about the same ($181,135 in ’08 to $182.025 in ’09).  New Condo listings are up 37% (12 in ’08 to 19 in ’09).  It seems that more first-time home buyers are opting for single family homes instead of condos.

There seems to be a number of older condos that are competing with new developments that are cutting pricing or offering concessions for up-grades……

More Later!  Carol & Matt

Sales for Lebanon NH of Single Family Homes!

The following stats are taken from the Multiple Listing Service (MLS).

The single family housing market in Lebanon NH has seen some marked improvement over last year.  Sales are up by 13% (46 in ’08 to 53 in ’09).  The average sale price is up 6%  ($235,111 in ’08 to $249,811 in ’09).  New listings for this quarter are up 22% (31 in ‘08 to 40 in ‘09)……..

The First-time home buyer tax credit seems to be striking again and so far it has helped the Upper Valley as a whole to ride the wave of the this recession.

More on Condo’s in Lebanon soon! Carol & Matt

54 DAYS AND COUNTING

Time is running out for 1^st time home buyers to take advantage of the $8,000 tax credit. To qualify, home buyers must complete the purchase of their home before December 1^st 2009! This is a great the opportunity to purchase a single family home in the Hanover and Lebanon NH area.

The IRS has recently issued a news release which reviews the qualifications for the 1^st time home buyer credit. Other resources that explain in detail include a You Tube Video and a First-Time Homebuyer Credit website. (more…)

The Ava Gallery and Art Center, located at 11 Bank Street just off the Green in Lebanon New Hampshire, is another amazing organization that helps make life here in the Upper Valley have that “metropolitan” feel.   Who would think that an arts organization the caliber of AVA would be located in our backyard?  The fact that it does exist is a testament to the diversity of people who have chosen to call this area their home and reflects the incredible cultural depth they bring with them.  Carol and I have attended several AVA silent auctions. (more…)