Merrimack Valley Region New Hampshire Real Estate .

Update on Market Conditions and Mortgage rates, June 09.

NEW YORK (CNNMoney.com) -- Home prices are cheap. Affordability is at a record high. And the market is littered with distressed properties looking for a buyer.

But there is one big obstacle for many first-time house hunters looking to take advantage of the market: cash for down payments. The typical first-time buyer has only saved enough to cover 4% of the purchase price, according to the National Association of Realtors.

As part of the stimulus package, Congress created a refundable first-time homebuyers tax credit in hopes of helping on-the-fence buyers to take the home-purchase plunge. But buyers couldn't collect the $8,000 credit until tax time, rather than at closing time - when it's needed.

Now the U.S. Department of Housing and Urban Development is planning to change that. The agency is working on a plan that will allow Federal Housing Authority-approved lenders to provide buyers with the tax credit cash up front.

"We all want to enable FHA consumers to access the tax credit funds when they close on their home loans so that the cash can be used as a down payment," said Shaun Donovan, HUD secretary, in a speech last Tuesday before the National Association of Realtors.

Cathy was tireless in her property search for us, a true professional. She listened to our needs and tailored the search results to match. We have just had our offer accepted on a property. We will happily refer our friends and family to the LambieTeam!" - Property Investors represented by Cathy 2/09

"Thank you so much for all your help and advice over the past few months. We were pretty stressed out about having to sell and buy all at once, not to mention relocating out of state. Having you there to help smooth out the bumps was invaluable!!! Thanks again."- Buyers represented by Cathy 2/09

 

Featured Southern New Hampshire Real Estate

Meredith NH property photo Meredith, NH: $1,295,000      [ 11 extra photos ] | Winnipesaukee Waterfront
43 South Watch Rd
Stunning home with massive views of lake Winnipesaukee and several mountain ranges. Sun filled rooms with soaring ceilings and gourmet kitchen, 1st floor master. Sauna, hot tub, screened 4 season porch, huge deck, and all of the Grouse Pt amenities. 3 Beaches, heated indoor pool, yacht club, tennis courts, club house. Truly a lovely home.
Laconia NH property photo Laconia, NH: $349,000      [ 9 extra photos ]
HUGE PRICE REDUCTION!!!This Established 8 Unit Multi-Family is in great condition and well maintained. It is in a prime location and within walking distance to downtown. If you are looking for a Real Estate Investment, look no further! New exterior paint 9/08!!!
Laconia NH property photo Laconia, NH: $299,000      [ 9 extra photos ]
179 Pleasant Street
Spacious/Well maintained multi-family with 2 units. Main unit is a 4 bdrm, 2 bath home that is so lovely that it could easily be owner-occupied w/hardwood flrs, granite counters + fireplace. Plus a 4 rm unit that generates $1,150 per month. Beautiful landscaped lot in a great neighborhood.
Sanbornton NH property photo Sanbornton, NH: $279,000      [ 9 extra photos ] | Rollins Pond Waterfront
168 Stage rd aka 132
Total privacy overlooking Rollins pond which is quite charming. The huge amount of garage space and open area for vehicles makes this a very desirable property for someone who is into heavy equipment, cars, boats or any other type item like that.
Loudon NH property photo Loudon, NH: $43,500      [ 9 extra photos ]
7014 CLINTON STREET
WELL MAINTAINED 3 BDRM/2BA MOBILE HOME FOR UNDER $50K!! LARGE DOUBLE LOT ON QUIET STREET. NICE PET FRIENDLY PARK. MOVE IN READY AND PRICED TO SELL!
Local Real Estate News & Helpful Information
MORTGAGE CALCULATOR real estate information article photo

MORTGAGE CALCULATOR

Mortgage Calculator Read more ...
Buyer Agency real estate information article photo

Buyer Agency

The most important thing you can do first, as a home buyer, is to find a Buyer Agent to work with on the purchase of your largest investment. Whether you are a first time homebuyer, or you have bought and sold homes many times in the past, working with a Buyer Agent you can trust can help save many dollars & lots of possible headaches! Read more ...
FAQ From Home Buyers real estate information article photo

FAQ From Home Buyers

Should I use a real estate broker? How do I find one? Answer: Using a real estate broker is a very good idea. All the details involved in home buying, particularly the financial ones, can be mind-boggling. A good real estate professional can guide you through the entire process and make the experience much easier. Read more ...
Top-Rated NH Schools real estate information article photo

Top-Rated NH Schools

Looking for a school in New Hampshire that's the right fit for your child? As a mom who has been through the process, I know you probably have many questions. Let our school choice tips lead the way. Armed with practical advice on choosing the best option, public vs. private schools or charter schools, what to ask on your school visit and more, you'll be set to begin your search.... Read more ...
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Copyright 2009 Northern New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NNEREN. Subject to errors, omissions, prior sale, change or withdrawal without notice. IDX data last updated on 07/04/09.

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