Rochester Parade

Rochester Parade, Sunday December 6, 2010

Well, it was a chilly day in Rochester, NH Sunday for the Annual Holiday parade. Light snowflakes slowly drifted down to add to the holiday spirit.

To the left is a picture of the young group of elves all bearing down to endure the chilly temperatures to help advertise the businesses of downtown Rochester, NH through the Rochester Main Street Program.

Keep your home safe and secure

"For happiness one needs security." -Anne Morrow Lindbergh

In the United States, a burglary occurs every 8 seconds. Thieves average 8-12 minutes in your home, searching for valuable items like electronics, money and jewelry. Despite this, the vast majority of burglars are not professional thieves and can be thwarted with a few basic measures.

5 Quick and Easy Crime Deterrents

1. Neighborhood Watch- Valuable method for sharing information and spreading the word about recurring incidents. Members are also much more likely to be more aware of warning signs that can help prevent crimes. Also, a good way to meet your neighbors.
2. Security Systems- Helps alert authorities of a break-in and allow response teams to respond quickly. If you can not afford a security system, placing a security company sign in the yard is an effective and economical approach.
3. Dogs- One of the most effective ways to prevent crimes. Even smaller dogs can be great ways to scare of criminals by barking and alerting trouble (though, I do not think my Yorkie will do the trick, he would run and hide).
4. Exterior Lighting- Bright lighting near outside entrances prevents most criminals from entering your home. Motion sensors will startle any trespassers and will also alert you by grabbing your attention.
5. Panic Button- If your car has an alarm, keep your keys handy. The cars alarm is a great way to frighten off someone who is lurking on your property or attempting a break-in.

7 Tips When Away on Vacation:

1. Leave a TV or Radio on
2. Have a car parked in the driveway
3. Give a key to a relative or neighbor instead of under a mat
4. Leave lights on timers
5. Make sure stove tops and irons are off
6. Have neighbors pick up your mail
7. Hire a house sitter

Rochester NH Property Taxes

This just in, Rochester property tax rate is increased 95 cents per $1000. This mixed with a decrease in assessments, means that Rochester property taxes will remain roughly the same (though my tax bill seemed to have gone up about $80). I think we have done fairly well keeping the taxes low when you see the larger increases in property taxes that Somersworth and Dover have come out with.

My opinion, I would love to see the city not adjust the tax assessments and keep the tax rate lower. Yeah, sure, the city will probably get a lot of complaints from homeowners saying that their taxes are too high. Don't we get the complainers already anyway?

Here is why I think it would be beneficial for the city. Home buyers always seem to want to look at the city assessment and say that is what the property is worth, while we all know this is an inaccurate assumption the buyer is making. If the city keeps assessments a bit higher, people may think the property could possibly be worth more. This could have a positive impact on the cities property values. Mix that in with a much lower tax rate in comparison to surrounding towns, and you may create even more positive impact. Just a thought and only my opinions. What do you think.

Top Tips Before Winter Hits

Yes, winter is coming! For some of us this is a good thing for others its more of a time to relax and hibernate. Here are some tips to keep you ahead of old man winter that go beyond sharpening your skis and getting out your holiday decorations.

-Change your batteries in your smoke detectors

-Vacuum the coils on the back of the fridge, this will help your fridge run more efficiently.

-Service your heating system, now is the best time to make sure it is in good working order and running efficiently.

-Empty the gas from your lawn mower. This will ensure that it works better come spring time.

-Clean your gutters properly, to prevent from icing up or overflow.

-Trim back your trees

-Clean the garage out, make sure to put paints and liquids that can freeze into a warm location.

-Sharpen your hockey skates and get the old skis tuned.

Its just a couple ideas, but it should make the winter go by a little smoother. Oh...and one last thing, contrary to popular belief, houses do still sell in the winter time. So, if it is that time for you, call your local Realtor. I know just the guy. Call me anytime!

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A Short Sale as an Alternative to Foreclosure

Let's face it, it's not enjoyable going through financial hardships, especially when you are on the edge of losing your home. Try to avoid going down the foreclosure route by entertaining the idea of doing a short sale. Let's face it a short sale is far from hassle-free, however, it is a better alternative than foreclosure.

A short sale is an agreement between you and the lender to sell your home for less than you owe. Although, there is no guarentees that your lender will allow you to avoid foreclosure by going the short sale route, Uncle Sam has put forth regulations intended to encouraging lenders to do so. HAFA or the Home Affordability Foreclosure Alternatives program provides incentives for lenders and borrowers to avoid foreclosures and pursue short sales and deeds in leiu of foreclosures.



Advantages of a Short Sale:
- You can purchase a home much sooner after a short sale rather than a foreclosure. Fannie Mae guidelines help you qualify more a mortgage in as little as 2 years after a short sale rather than the 7 years of a foreclosure-
-No social stigma of "Foreclosure"
-You have more control over the sale, where as in a foreclosure the bank has control.
-Some lenders may not report to credit bureau, though some will report, "Settled"
-Credit scores tend to raise quicker after a short sale.
-Help your communities home values by not having the foreclosure stigma.

Disadvantages of a short sale:
-Your credit score will still take a hit (probably already has since you most likely missed payments before the short sale)
-In some states the lender may be able to come after you for the difference in sales price and mortgage payoff amount. Check with your lender and state laws.


If you are considering a short sale it is best to contact myself or a local qualified Realtor® in your area. It is a good idea to speak to an attorney about your options ( I am not an attorney and can not give legal advice.) If you decide to proceed with a short sale, gather all information you can to support your need to sell your house short (loss of income, divorce, debt, illness, etc). You will need to write a hardship letter (your opportunity to complain about your situation) and you will have to provide the lender with financial information.

Please feel free to contact me with any questions - Mark Zoeller (603) 817-4113
Realtor®- NH and Maine

FHA Changes

Hi Everyone,

I just wanted to let you know what changes will be happening in FHA. First, there will be no more spot approvals for condos. All associations must be newly approved through FHA every 2 years (Effective February 1, 2010). Second, FHA's MIP (Mortgage insurance) will be increasing from 1.75% to 2.25% as of April 5, 2010. Third, Seller contributions will be reduced from the allowable 6% to 3%. This possibly may take effect sometime this spring. FHA has not finalized the allowable closing costs, yet. If you have any questions about these changes please feel free to call me and I will try and answer them for you.

Pending home sales rise in June for 5th consecutive month

Pending home sales index rises again in June
More good news: Pending home sales rise in June for 5th consecutive month
On Tuesday August 4, 2009, 11:01 am EDT (An article from the Associated Press)

WASHINGTON (AP) -- Pending U.S. home sales rose in June for the fifth straight month, another encouraging sign of life for the embattled U.S. housing market, the National Association of Realtors reported Tuesday.
For June, the Realtors group said its pending home sales index rose 3.6 percent to 94.6, from an upwardly revised reading of 91.3 in May. The last time there were five consecutive monthly gains was July 2003.
The results were far better than analysts expected. Economists surveyed by Thomson Reuters expected the index to come in at 91.2.
The report tracks signed contracts to purchase previously owned homes and is considered a barometer for future home sales. Typically there is a one- to two- month lag between a sales contract and a completed deal.
The jump in pending home sales coincides with other positive trends in the residential real estate market.
"The housing market is healing and the patient is getting healthier at an accelerating pace," said economist Joel L. Naroff, president of Naroff Economic Advisors Inc.
For the first time in five years, home resales have risen for three months in a row, increasing almost 4 percent in June. Low prices, attractive mortgage rates and a first-time homebuyers tax credit of up to $8,000 have kick-started sales.
"Because housing is so affordable in today's market, job security and the first-time buyer tax credit are bigger factors in influencing home sales," said Lawrence Yun, the Realtors group's chief economist, in a statement.
Also Tuesday, homebuilder D.R. Horton Inc. said its fiscal third-quarter losses shrank from the year-ago period, as it took smaller charges against the falling values of its land and unsold homes.
D.R. Horton's results followed similar numbers from Pulte Homes Inc. and Centex Corp., which reported quarterly earnings Monday that showed new-home orders picked up during the first half of the year.
Yun said he expects existing home sales to gradually rise over the balance of the year, with conditions varying around the country.
"It appears home sales are on a sounder footing and inventory is gradually being absorbed," he said.
Regionally, the pending home sales index jumped 7.1 percent to 100.7 in the South and 2.9 percent to 100.4 in the West. The index inched up 0.4 percent to 81.2 in the Northeast, and up 0.8 percent to 89.9 in the Midwest.

First Time Homebuyer Seminar

Are you a first-time homebuyer?
DO YOU KNOW…

YOU may qualify for an $8,000 tax credit just for buying a home this year?

YOU may qualify as a 1st time homebuyer even if you previously owned a home?

YOU can amend your filed 2008 tax return and receive your $8,000 in 2009?

YOUR 2009 Tax Credit is not a loan and does not have to be repaid?

COME GET THE FACTS…

ROCHESTER PUBLIC LIBRARY
65 South Main Street, Rochester, NH 03867
THURSDAY, JUNE 4, 2009
6:30-7:30 PM

THE AMERICAN RECOVERY & REINVESTMENT ACT OF 2009 ESTABLISHED THE $8,000 FIRST-TIME HOMEBUYER TAX CREDIT ON FEBRUARY 17, 2009

IF YOU ARE A 1ST TIME HOMEBUYER WHO HAS PURCHASED OR PLANS TO PURCHASE A HOME BY DEC 1ST 2009 YOU NEED TO CHECK THIS OUT!

THIS WILL BE A FREE INFORMATIONAL SESSION:
* GET THE LATEST UPDATES ON THE PROGRAM
* LEARN HOW TO DETERMINE IF YOU QUALIFY
* LEARN HOW 2009 TAX CREDIT CAN IMPACT YOUR FINANCING
* ASK QUESTIONS OF TAX PROFESSIONALS
* COME AND GET THE INFO FOR SOMEONE WHO CAN’T ATTEND

IF YOU CAN’T USE THIS INFORMATION, PLEASE PASS IT ON TO SOMEONE WHO CAN!


This event is free and open to the public.
Sponsored by the Strafford County Board of REALTORS®

Why has my house not sold, yet?

Whether your home has been on the market for a week or a year, there is a buyer for your home. The problem we are seeing right now is it's a buyers market, which means a buyer wants the best value, or they will move on to something else.
Your home has to be at its very best, or at least in the top 10% of the homes in your price range and/or town. I am not just pulling this number out of the sky, it is what is referred to as the absorption rate.
Right now in the town of Rochester, NH the absorbtion rate is roughly 10% over the past year. Now what this means is that in any given price range only 10% of the homes are selling, the rest are remaining on the market. To simplify things further; If your house is in a price range/area with 40 other homes. There are enough buyers out there right now to buy 4 of those homes a month. So, out of the 40 homes that are on the market in that price range every month, yours has to be in the top 4, or you won't get it sold, let alone, an offer.
If you truly need to get your home sold, and have the motivation to do what it takes, make your home one of the top 10% of the homes out there. (I have very detailed information that I provide to all of my sellers to make sure they know what it takes to be in that top 10%, and I help them achieve it.)

***Note that the numbers I have given are for Rochester, NH only. These numbers will vary from town to town. If you would like to know the absorption rates for your town. Please feel free to contact me.

Tax Credits on Energy efficient improvements

Many of you are aware of the $8000 tax credit that went into effect with the "American Recovery and Reinvestment Act of 2009", however, many are not aware of the many other benefits that were introduced in this legislation. There are significant tax benefits to those who make energy efficient upgrades to their home.

You may be eligible to receive a tax credit for home improvements placed in service from January 1, 2009 through December 31, 2010. These tax credits may apply to windows, doors, insulation, roof, HVAC, water heaters, biomass stoves, geothermal heat pumps, solar panels, solar water heaters, small wind energy systems, fuel cells. Visit www.energystar.gov for more information.

Sunshine and Avalanches at Tuckerman's Ravine

So the day up at Tuckerman's Ravine went great. We started the hike with a light rain shower, but that quickly passed. The majority of the hike was under a partly to mostly cloudy sky, which was very comfortable, given the temperatures on Saturday. I arrived up at the ravine around 9:15, absolutely exhausted from the hike, yet, so excited for my day of skiing. At this point the sun was shining down on us. We sat at a nice spot on the lunch rocks, where we were able to kick off the hiking boots and get into our ski gear.

What a rush looking up at this towering ravine up above, staring back down out you, just waiting to partake in our day of fun. Our first hike up the ravine was great. A couple people had already gone up ahead of us creating a ladder like stairway to the top. My only suggestion for hiking this stretch is to wear pants that cover your boots. My boots kept getting filled with snow. Though enjoyable, wearing shorts, it was not exciting getting a boot full of snow.

My first run down started with a couple of runs in the upper snowfields. My turns lead me over to the head wall, just right of wear there was open running water from the melting snow. As I take a couple of turns into the head wall, I feel the show give way below me. I tumbled twice then re caught my edge, only to see that I am skiing in a gently avalanche of snow, if you will. I turned to the side a bit and proceeded to ski the remainder of the way down next to this sliding snow.

My second run, was right gully, a little less steep, yet, a lot more narrow. That was actually a great run. I got some great turns in on the slushy sun melted snow. However, my legs were burnt at that point. There was no way I was going to hike back up for a 3rd run.

Overall the day was great, we counted 3 Larger sized avalanches and 2 smaller ones. There was a rolling rock off the head wall and a chunk of ice from right gully. There were people drinking and people laughing. There were some strange kids skiing down in Santa suits, bunny suits and the infamous Borat bathing suit (That was a site for sore eyes.) There were people launching off the head wall and some not purposely. Wow, what wipe outs we saw.
The day was great. There was so much fun had in that 75 degree sunny day in the ravine at Mount Washington.

See you on the slopes next year!

Tuckerman's Ravine

I am looking to do the hike. If there is anyone out there that is interested in climbing Mt. Washington to ski Tuckerman's Ravine this month (April), please let me know. I was contemplating going on Sunday April 26th. For those of you who don't ski, it is still worth the hike. If you are feeling extra ambitious, you are more than welcome to carry my ski boots.

Let me know if it is something you might be interested in!

Foreclosure vs Short Sale

Losing your home to foreclosure due to the incapacity to remain current on monthly mortgage payments is one the most displeasing events that can occur in one’s lifetime. Along with the losing your home to the bank, foreclosures have a lasting effect, such as, the long term destruction it has on a person’s credit score.

Unfortunately, life changing events do happen and occasionally these events may result in the inability to make mortgage payments. Fortunately, there are other options to the much dreaded foreclosure. A short sale is a very popular option for homeowners are delinquent on their mortgage payments. A short sale is described as selling your property for less than what is owed to the lender. The largest dilemma is getting your lender to agree to a short sale. In many circumstances, they will not, however, lenders would much rather do a short sale then spend all the money, time and legal documents that is involved in a foreclosure.

Short sales have its shortcomings as well. While a short sale will rescue you from foreclosure, it will also have a harmful impact on your credit score, lowering by as much as 215 points in some circumstances. This option, however, can be overcome much quicker than a foreclosure. Another downfall of a short sale would be the fact that the IRS will often consider the difference between the mortgage balance and the amount paid off by the short sale as taxable income.

The difference between the mortgage balance and the amount of the short sale is called a deficiency balance. The deficiency balance is monies still owed to the bank due to the shortfall. Often this can be negotiated down, so that the short sale will cover payment in full and the bank will not take pursuit of this deficiency balance. The homeowners may have to declare bankruptcy further down the road to get rid of any deficiency balance that may not have been negotiated.

A 1099 is often given to the homeowners as an outcome for the “income” earned from the short sale. In today’s economic state, however, lenders are so bogged down on all of the short sales and foreclosures, many of the 1099s are not sent out.

At the end of the day a short sale is not pretty and they are not simple to execute. They can hurt your credit and you may owe taxes on the “income” earned. Ultimately, however, they are a better situation than a foreclosure that will destroy your credit and the lender may still come after you in pursuit of monies owed.

If you or someone you know may be losing their property, let me know. I can help them avoid Foreclosure. The quicker you act, the easier it is to save.

First Post

So, today I begin a new venture; a blog. Today's post is to let everyone out there know my intentions in this blog. The purpose of these ongoing conversations is to allow people into my life; let people know a bit about who Mark Zoeller is, and what my thoughts are on certain issues that effect our lives and the real estate industry. I want my subscribers to know how the real estate market is going, not only nationally, but locally, here in New Hampshire and Maine. I want people to be able to comment on posts and ask questions that they may have, either about what I have written or something that is a complete 180.

In this first entry, I would like people to know a little something about me. I am from Rochester, NH, born and raised. I attended the University of New Hampshire from 2001-2006, where I received my bachelors degree in liberal arts, with a major of sociology. Like many people out there, I didn't use my major as a direction in life, however, it does influence many of my thoughts and decisions. Sociology has allowed me to be open to others thoughts, beliefs and decisions, rather than focusing only on my own.

Prior to graduation, in 2005, I started my real estate career at RE/MAX Realty Centre in Somersworth, NH. Since then I have grown to become one of the leading Realtors in my local area. Serving the Seacoast area into the Lakes Region of New Hampshire and York County Maine, However, I can stray from these areas.

I am currently playing in a hockey league based out of Rochester, I like to think I am a decent skater. Love to go skiing, I do it all, from groomers to trees. Let me know if there is anyone out there that would like to hit the slopes.

Well, you have heard enough about me. I will try and post at least once a week, so, you should hear from me by next Wednsday.