Real Estate Blog

Bartlett, NH Real Estate Market Update for 5/20/2024

Welcome to the latest update on the Bartlett, NH real estate market. Let's dive into the current trends and statistics for both single-family homes and condos in the area. Here are the latest numbers:

Single-Family Homes

  • Active Listings:

    • Number of active listings: 14
    • Lowest price: $389,000
    • Highest price: $1,725,000
    • Median price: $899,000
  • Pending Listings:

    • Number of pending listings: 5
    • Lowest price: $269,000
    • Highest price: $895,000
    • Median price: $429,900
  • Closed Listings (last 90 days):

    • Number of closed listings: 11
    • Lowest price: $360,000
    • Highest price: $849,000
    • Median price: $495,000
    • 6 out of 11 sales were cash transactions

Condos

  • Active Listings:

    • Number of active listings: 17
    • Lowest price: $279,900
    • Highest price: $3,000,000
    • Median price: $424,900
  • Pending Listings:

    • Number of pending listings: 8
    • Lowest price: $199,500
    • Highest price: $839,000
    • Median price: $429,500
  • Closed Listings (last 90 days):

    • Number of closed listings: 21
    • Lowest price: $170,000
    • Highest price: $899,000
    • Median price: $375,000
    • 8 out of 21 sales were cash transactions

Market Commentary

The Bartlett real estate market is showing some interesting dynamics this season. Here's what we're seeing:

Single-Family Homes

The market for single-family homes in Bartlett remains strong. The median price for active listings stands at $899,000, indicating a healthy demand for higher-end properties. With only 14 active listings, inventory remains relatively low, which could be contributing to the higher median prices.

Pending sales have a median price of $429,900, suggesting a more moderate price range for homes currently under contract. The closed sales over the last 90 days show a median price of $495,000, with more than half of these transactions being cash sales. This indicates a strong presence of cash buyers, possibly investors or second-home buyers, looking to take advantage of the market conditions.

Condos

The condo market in Bartlett is also active, with 17 current listings. The range of prices is quite broad, from $279,900 to $3,000,000, showing diversity in the types of condos available, from more affordable units to luxury properties.

Pending condo sales have a median price of $429,500, slightly higher than the median price of active listings. This trend could suggest an increasing interest in higher-end condos. The median price for closed condo sales over the past 90 days is $375,000, with a notable number of these sales (8 out of 21) being cash transactions, again highlighting the trend of cash buyers in the market.

Overall, the Bartlett real estate market is characterized by low inventory and high demand, particularly in the higher price ranges for both single-family homes and condos. The prevalence of cash transactions suggests a competitive market with many buyers looking to close deals quickly. If you're considering buying or selling in Bartlett, now might be a strategic time given the current trends.

Feel free to reach out for more detailed information or specific inquiries about properties in the Bartlett area. 

Navigating North Conway property lines with On X Hunt

 

When purchasing land, whether for personal or commercial use, understanding the intricacies of property boundaries is crucial. For buyers exploring potential properties, it’s essential to have accurate and reliable tools at your disposal to make informed decisions. One such tool that is transforming the way buyers evaluate land is the OnX Hunt app. Originally designed for hunters to identify public and private boundaries, OnX Hunt is equally valuable for land buyers due to its detailed mapping and GPS capabilities.

Why OnX Hunt is a Game-Changer for Land Buyers

Accurate Property Boundaries

One of the primary concerns for any land purchase is knowing exactly where your property begins and ends. OnX Hunt uses advanced GPS technology to show highly accurate boundary lines in real-time. This feature is incredibly helpful during property visits, ensuring that you, as a buyer, are fully aware of the land's limits and can plan accordingly for any future use you might envision.

Access to Topographical and Satellite Imagery

Understanding the physical characteristics of a property is just as important as knowing its boundaries. OnX Hunt provides buyers with detailed topographical maps and satellite imagery, offering a comprehensive view of the terrain. This information is crucial for assessing the usability of the land, be it for construction, agriculture, or conservation purposes.

Mobile Convenience

OnX Hunt’s mobile accessibility means you can have this valuable information right at your fingertips while you're on-site. This can enhance your ability to make immediate assessments and decisions as you walk the property. The app’s easy-to-use interface allows you to switch views between satellite imagery, topographical maps, and hybrid overlays, providing a multi-dimensional perspective of the land.

How Buyers Can Leverage OnX Hunt When Assessing Land

Pre-Visit Research

Before visiting a property, use OnX Hunt to familiarize yourself with its layout. You can view the property’s boundaries, topographical details, and other geographical features ahead of time, which helps in planning your visit and knowing what areas you might want to inspect more closely.

During Property Tours

Bring OnX Hunt with you during property tours. Use the app to verify the boundaries shown by the seller or agent against what is officially recorded. This not only provides peace of mind but also aids in visualizing potential development or use of the space. Discuss what you see with your agent or the seller to clarify any discrepancies or concerns right there and then.

Integration with Other Research

Combine the data from OnX Hunt with other property information you gather, such as local zoning laws, environmental restrictions, and previous land uses. This comprehensive approach will give you a fuller understanding of what the land offers and any limitations it might have.

Dave earns RSPS Designation to Help Second Home Buyers

What is the RSPS Designation?

The RSPS designation is given to real estate professionals who have completed a specialized course covering the nuances and specifics of buying and selling resort and second-home properties. It includes training on topics such as tax implications, investment strategies, and the lifestyle factors that are unique to the resort and second-home market. This designation is a testament to a broker's commitment to understanding and excelling in this niche area of real estate.

How Dave's RSPS Designation Benefits Second Home Buyers

Expert Knowledge of Market Trends

With the RSPS designation, Dave has deepened his knowledge of the market trends specific to resort and second homes. This expertise allows him to provide invaluable insights to buyers about the best times to buy and sell in the North Conway area, ensuring that clients make the most informed decisions.

Specialized Guidance on Tax and Investment Strategies

Second homes and resort properties come with their own set of financial implications, including tax considerations and investment opportunities. Dave's training enables him to offer specialized guidance on how to navigate these complexities, helping buyers to optimize their investment and enjoy the lifestyle benefits of owning a second home.

Local Insights and Connections

North Conway is known for its beautiful landscapes and vibrant community, making it a popular choice for second-home buyers. Dave's local expertise and professional connections, enhanced by his RSPS designation, mean that buyers have access to the most comprehensive information on local amenities, community events, and other lifestyle factors that are crucial when choosing a second home.

Personalized Service

Understanding that buying a second home is about more than just a financial investment, Dave leverages his RSPS training to focus on the lifestyle aspirations of his clients. Whether it's a cozy ski chalet close to Mount Washington Valley ski resorts or a serene retreat by the Saco River, Dave is equipped to match every client with the perfect property that suits their dreams and lifestyle needs.

 

Dave earns Accredited Buyer's Representative Designation

We have exciting news to share: Dave, your trusted local real estate broker, has recently achieved the prestigious Accredited Buyer’s Representative (ABR) designation. What does this mean for you? 

The ABR designation signifies a significant milestone in Dave's career, reflecting his commitment to providing exceptional service to homebuyers. It represents a higher standard of expertise and professionalism in the field of buyer representation.

Dave’s dedication to attaining the ABR designation underscores his ongoing efforts to elevate the home buying experience for clients in North Conway. It signifies his comprehensive understanding of the intricacies of the real estate market and his ability to effectively navigate the complexities of the buying process.

For prospective homebuyers in North Conway, Dave’s ABR designation translates to a heightened level of support and guidance throughout their home buying journey. From assisting clients in defining their preferences and priorities to skillfully negotiating favorable terms, Dave is equipped to deliver personalized solutions tailored to meet each client’s unique needs.

Moreover, Dave’s affiliation with the ABR network provides access to valuable resources and insights, ensuring that clients benefit from the latest market trends and developments. By staying informed and connected, Dave remains well-positioned to provide clients with informed guidance and strategic advice.

Whether you’re a first-time homebuyer or a seasoned investor, Dave’s ABR designation signifies his unwavering commitment to delivering exceptional service and unparalleled expertise. With Dave as your trusted advisor, you can navigate the North Conway real estate market with confidence and peace of mind.

Town of Madison suing Eidelweiss owner for operating STR

This article from the Conway Daily Sun (4/24) says the town of Madison is suing an Eidelweiss owner for operating a short term rental.  Will be very interesting to see how this plays out....

  • The town of Madison, NH, has filed a lawsuit against Nicholas Gage for operating a short-term rental in violation of local ordinances.
  • The lawsuit is set to be heard in Carroll County Superior Court.
  • Gage's property, located at 10 Barden Place in the Eidelweiss Residential District, is the subject of the dispute.
  • In 2022, Madison residents voted to amend the definition of dwelling units to be used for non-transient residential purposes, specifying occupancies longer than 30 days.
  • Gage advertised and rented his property for periods less than 30 days, violating this amendment.
  • After several notices and a denial of appeals by the zoning board of adjustment, the town has deemed Gage's actions as final and non-appealable.
  • The town attorney, Cordell Johnston, is seeking civil penalties of $275 per day retroactive to January 12, totaling over $20,000 by the filing date.
  • The town is also requesting the court to prohibit Gage from further short-term rentals and to reimburse the town for legal and investigation expenses.
  • Gage has yet to respond to the lawsuit and claims he has not seen it.
  • The lawsuit was initiated by a vote among the selectmen, with one member abstaining due to unfamiliarity with the case details.
  • The property is listed on Airbnb.

Understanding Seller Disclosures Under the NH Condominium Act

When selling a condominium in New Hampshire, it's crucial to be aware of the legal requirements set forth by the New Hampshire Condominium Act, specifically RSA 356-B:58. This regulation outlines what sellers must disclose to potential buyers, ensuring transparency and protecting both parties during the transaction. Here’s what you need to know.

1. General Description of the Unit and Common Areas

The seller must provide a detailed description of the condominium unit and its designated common areas. This includes specifying the boundaries of the unit, as well as a description of the common areas and facilities that the new owner will have access to and a part of their ownership rights.

2. Statement of Use

A statement detailing the intended use of the unit is required. This includes any restrictions on its use as residential or commercial space, which can significantly influence a buyer's decision.

3. Association Fees and Assessments

This disclosure must include detailed information about the regular condo association fees, as well as any special assessments that are currently in effect or planned for the future. It’s important for buyers to understand their financial obligations beyond the purchase price.

4. Copies of the Declaration, By-Laws, and Rules

Sellers must provide copies of the condominium’s declaration, by-laws, rules, and regulations. These documents govern the operation of the condominium and outline the rights and responsibilities of unit owners.

5. Insurance Coverage

Details about the insurance coverage maintained by the condominium association should be provided. This includes what aspects of the property are covered by the association’s policy and what must be covered by the owner's personal policy.

6. Financial Health of the Association

Sellers need to disclose the current financial status of the condo association. This includes the most recent balance sheet, operating budget, and any reserve studies. Knowing the financial health of the association can help buyers assess potential future costs and the stability of their investment.

7. Litigation and Unresolved Violations

Any ongoing litigation or unresolved municipal code violations involving the condominium must be disclosed. These could affect the ownership rights or financial responsibilities of the prospective buyer.

8. Rights of First Refusal

If there are any rights of first refusal or other similar restrictions that could affect the sale or transfer of the unit, these must also be disclosed.

Transparency is key in any real estate transaction, but especially so in the sale of a condominium due to the complexities involved with part ownership of common areas and shared responsibilities. Understanding and complying with RSA 356-B:58 not only helps sellers avoid legal pitfalls but also builds trust with potential buyers.

For anyone considering selling their condominium, it’s advisable to consult with a real estate professional familiar with New Hampshire law to ensure all disclosures are complete and accurate.

Updated searches by condo association and neighborhood

I've done quite a bit of work to put together the most convenient way to search for you... and I hope you like it!
Any site will let you search by town or price, but North Conway Realty has the most extensive list of map-based custom searches to make your house hunting easier.

  • Do you want a house in Birch Hill?  We have a search for that (click here)
  • Maybe a condo at The Seasons?  We have a search for that (click here)
  • Properties around Attitash?  We have a search for that (click here)

Here is a link to these custom searches so you can find exactly the property that fits your needs.

Conway Voters Approve Inspections... Will The Courts?

Hey Conway Landlords, Brace Yourselves for the Inspection Storm!

Conway's rental landscape is about to get rocky. The town has rolled out a mandatory rental license program. Yes, despite the green light from voters on Article 24, not everyone's on board with the whole "big brother" vibe.

The aim? To keep renters out of harm's way. Noble, sure, but many are asking at what cost—and whose expense? This new program is diving into life safety checks, rooted in the New Hampshire Life Safety Code, which is stirring up quite the pot.

Here's what's on the town's inspection hit list:

  • Smoke and CO detectors that actually work (and are not tucked in kitchen drawers).
  • Fire escape plans. 
  • Fire suppression gear.
  • Wiring that doesn't double as a potential fireworks show.
  • Overall safety that ensures tenants aren't signing a lease with danger.

Now, don't get me wrong—I'm all for keeping people safe. But there's chatter that this inspection spree might just be the tip of the iceberg. Some landlords are riled up, murmuring about privacy, the hassle, and the 'what-ifs' of finding issues.

Privacy? Yeah, the town says they'll respect it. But you tell me, how cozy does it feel knowing inspectors will be peeking into every nook and cranny of your property?

And what happens if they find something? They say they'll play nice, working with you to fix things up "reasonably." But that's a word that can bend in the wind, and some landlords are bracing for a mess.

The program is administered by Nicholas DeVito, the Zoning Officer. You'll need to call him up at (603) 447-3811 to get on the inspection schedule.

Now, here’s the kicker: this could all end up in a legal tangle. There's talk of disputes and challenges that could drag this out in the courts over the next couple of years. It’s not just about safety anymore—it's about legal rights, property ownership, and where the line gets drawn.

Full Details can be found here

What is a Kickout Clause & How Does it Work?

If you've been navigating the real estate market, you might have come across terms that sound a little strange. Today, I'm going to give you the basics on one: the Hubbard or kickout clause. Whether you're a seller or buyer, understanding this clause can be a game-changer in how you view and handle property transactions.

What is a Hubbard Clause?

Imagine you're selling a house, and a buyer comes along who loves it but has a catch: they need to sell their current home first. Enter the Hubbard clause. This provision allows the buyer to enter into a contract with you while giving them a specified amount of time to sell their existing property. It's like saying, "I'll buy your house if I manage to sell mine within this timeframe."

How Does it Work for Sellers?

For sellers, this clause might sound a bit risky at first glance. You're essentially agreeing to take your property off the market temporarily, banking on the buyer's ability to sell their home. The silver lining? The kickout clause. This part of the agreement gives you the right to "kick out" the buyer if you receive another offer that you're willing to accept. The original buyer typically has a set number of hours (often 48 to 72) to remove the Hubbard clause by proving they can proceed without selling their property or to back out of the deal, freeing you to accept the new offer.

Advantages and Considerations

For Sellers:

  • Advantage: You can continue showing your property and accepting offers, which puts less pressure on you to wait indefinitely for the buyer to sell their home.
  • Consideration: There's a risk that the initial deal might fall through if the buyer can't sell their property in time. However, this risk is mitigated by the kickout clause, allowing you to pivot to another offer if needed.

For Buyers:

  • Advantage: It provides a safety net, allowing you to commit to a new property without having sold your current one. This can be particularly useful in a buyer's market, where selling your home might take a bit longer.
  • Consideration: The pressure is on to sell your current home within the stipulated timeframe, or you risk losing the new property to another buyer. It's crucial to realistically assess the marketability of your property before entering into such an agreement.

The Bottom Line

The Hubbard or kickout clause is a fascinating example of the flexibility in real estate transactions. It's designed to balance the interests of buyers and sellers in situations where transactions are contingent upon another sale. Like any contract provision, it's essential to understand the terms fully and consider how they align with your circumstances and goals.

If you're navigating these waters, whether in Fryeburg, Maine, North Conway, New Hampshire, or anywhere else, remember that knowledge is power. Understanding clauses like these can empower you to make informed decisions, ensuring your real estate journey is as smooth as possible.

So, whether you're looking to buy a new family home or sell one to the next eager homeowner, keep the Hubbard clause in your arsenal of real estate knowledge. It just might make the difference in your next property transaction.

Carroll County Property Owners Now Have Access to Property Watch

Dear Carroll County Residents,

We are pleased to announce an important initiative from the Carroll County Registry of Deeds, spearheaded by Register Scott, aimed at bolstering the security of your most significant asset: your home. The introduction of the complimentary Property Watch service is a part of our ongoing commitment to exceptional customer service and proactive fraud prevention within our community.

The Importance of Property Watch:

Property and mortgage fraud are becoming a significant concern as per FBI reports. This form of fraud typically involves the unauthorized recording of fraudulent documents, falsely asserting ownership or creating fictitious obligations against a property owner’s name.

The launch of the Property Watch service is a strategic response to this growing threat, offering a robust mechanism to alert property owners of any potentially fraudulent activity associated with their property.

How Property Watch Works:

The Carroll County Registry of Deeds is the custodian of public records related to real estate within the county, encompassing deeds, mortgages, and records of foreclosure, among others. The Property Watch service functions as an early warning system, automatically notifying registered users via email if a document recorded at the Registry of Deeds matches their name. This notification includes a link to the recorded document, allowing property owners to review and assess its legitimacy promptly.

Enrollment Process:

Signing up for the Property Watch service is streamlined and user-friendly. Interested individuals are encouraged to enter their email address on the provided platform, followed by their name as it appears on their property records. The service permits the addition of up to five names per email address, accommodating multiple property owners or different family members. Upon submission, users will receive a confirmation email, marking the completion of the enrollment process.

https://www.carrollcountynhdeeds.gov/AlertWebSite/

Adjusting Notifications:

For those already enrolled in the Property Watch service wishing to modify their notifications—be it adding new names or altering existing ones—re-accessing the platform with your registered email will display your current notifications. From here, modifications can be made effortlessly to ensure that the service continues to meet your changing needs.

In conclusion, the Property Watch service is a testament to Carroll County's dedication to safeguarding its residents' properties from fraudulent activities. Register Scott’s initiative is a forward-thinking approach to enhancing the security and peace of mind for property owners throughout the county.

We encourage all property owners in Carroll County to take advantage of this free service, reinforcing the protection of your most valuable assets against potential fraud.

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