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Portsmouth, NH Real Estate News

By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Navigating the world of real estate can be daunting, especially with the industry-specific jargon used by professionals. Whether you are looking to buy or sell a home, understanding common real estate terms is essential. As your dedicated real estate experts, we’re here to break down the most important terms you’ll encounter, ensuring you’re well-prepared for the journey ahead.  For Home Sellers 1. Listing Agreement: This is a contract between you, the homeowners, and a real estate agent (like us), authorizing the agent to represent you and sell your home. Let’s discuss how we can represent your interests.2. Asking Price: The initial price you set when your home is put on the market. It’s crucial to set a competitive asking price that reflects the current market conditions. We can provi...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Multigenerational living, the practice of several generations living together in one household, is becoming increasingly popular in Portsmouth, New Hampshire. This is due to its many benefits, which include cost savings, family bonding, caring for older generations, and helping young adults get started.One of the most significant benefits of multigenerational living is cost savings. Families can pool their resources to pay for housing, utilities, and other living expenses by living together. This can be particularly beneficial for young adults who are just starting and may struggle to make ends meet.Another advantage of multigenerational living is the opportunity for family bonding. By living close to one another, family members have more opportunities to spend time together, share meal...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
How recent financial events could lead to significant savings on your dream home?In the ever-changing world of finance and real estate, sometimes the unexpected can lead to new opportunities. The recent collapse of Silicon Valley Bank and a few other regional banks might seem awful, but it could present a golden opportunity for potential NH Seacoast homebuyers. Let’s delve into the backstory and explore how these events can benefit you.A Brief BackstoryA few years ago, in 2020 and 2021, banks saw a flood of new deposits due to stimulus money and increased savings during the pandemic. Banks invested in low-interest treasury bonds and mortgage-backed securities to make the most of this influx, locking in 1-2% returns for years. Fast forward to today, and the Federal Reserve has significan...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
2 Things NH Seacoast Sellers Need To Know This Spring A lot has changed over the past year, and you might wonder what’s in store for the NH Seacoast spring housing market. If you plan to sell your house this season, here’s what real estate experts say you should remember.1. Houses That Are Priced Right Are Still SellingHouses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says:“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”The need to price your NH Seacoast house right is essential today because the market has changed so much over the past year. Danielle Hale, Chief Economist at realtor.com, explains:“With a smaller pool of buyers today and more competition from...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
 One Major Benefit of Investing in Portsmouth, NH real estate One of the many reasons to invest in a Portsmouth, NH, home is that it's a significant way to build wealth and gain financial stability. According to Freddie Mac:“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”With spring approaching, now's a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.The Largest Part of Most Homeowners' Net Worth Is Their EquityYou may be surprised to learn how much of a Portsmouth, NH, homeowner's net worth actually comes from owning their home. The National Association of Realtors (NAR) shares: “Homeo...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Are you considering buying a home in Portsmouth, NH, or the New Hampshire Seacoast this year? We can point you to grant funds for your down payment or closing costs. Give us a call, and let’s talk.Here is a small sampling of the assistance we can guide you toward to help buy a home in Portsmouth, NH or other New Hampshire Seacoast towns.1. Up to $10,000 to help with your down payment and closing costs. You do not need a ton of cash to buy a home.2. Up to a $2,000 interest tax credit every year, you have a mortgage for the life of the loan!3. Credit scores as low as 6204. Income up to $129,600 in Portsmouth, NH5. Purchase price up to $525,000Let’s talk soon about making you a New Hampshire homeowner; it’s easier than you think. Here is our contact informationWe can put you in the photo b...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Now that 2022 is over, we can look at the past year’s real estate activity and predict what 2023 might look likeThe chart below shows single-family home sales in Portsmouth for 2022. The median price ended at $730,000, an 8.2% drop from 2021.On the other hand, Portsmouth condos enjoyed a sizable increase in median prices. A 72.1% price increase to a median of $954,900.Read the rest of the blog and the 2023 predictions here
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
What Will the Housing Market Look Like in 2023?Spoiler alert; it's all about inflation. Jim Lee & Ann Cummings, REALTORSRE/MAX ShorelineNew Hampshire Maine Real EstateDirect: 603-436-1221, voice or text
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Real estate is always a hot topic of conversation. We’ve talked to fellow experts, including other Realtors, lenders, and economists, to get the best sense of what the 2023 Portsmouth, NH real estate market will look like. We also looked into our real estate crystal ball to make sure we covered all the bases.We all agree that the rise in home prices will be lower than it was this past year and the frenzied markets of 2021. At this early stage in the year, we can expect home price appreciation to be in the 1-4% range in 2023 for the reasons stated below.All our experts agree there will not be a repeat of the 2008 crash for the simple reason that lending standards and guidelines have tightened up significantly since then. In 2007 if you had a pulse, you could probably get a mortgage wheth...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Planning To Sell Your House? It's Critical To Hire a Pro. With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you're considering selling your house, it's essential to understand how the market has changed and what that means. The best way to ensure you're in the know is to work with a trusted Realtor who is an expert in your local market. Here are five reasons working with a professional can ensure you'll get the most out of your sale. 1. A Realtor Is an Expert on Market Trends Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), explains: "During challenging and changing market conditions, one thing that's calming and constant is the assurance that comes from a Realtor® being in your corner th...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Key Takeaways: Less competition and holiday decor make your home stand out. Serious buyers and fast closings make for a merry sale. Contact us today to get started with the year coming to a close! Believe it or not, the holidays are an excellent time to sell your home! People are in warm spirits, and there is typically less competition from other sellers during the holidays, so your house is more likely to stand out. So if you’re considering selling your house, the holidays may be the perfect time to do it! During the holidays, people are out shopping—for homes! Yes, homebuyers take advantage of the festive atmosphere to research options and kickstart their house-hunting journey. With offers of holiday cheer in the air, many buyers feel more confident taking the plunge and seriously mak...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Here is the Portsmouth, New Hampshire Real Estate Update for November 2022. Let’s take an in-depth look at the numbers and what they mean.The chart above is an overall look at the single-family home statistics. The median sales price is up almost 20% to $750,000. 157 sales year to date, and as the line graph shows, Portsmouth prices continue to outpace prices throughout the state.Click here for the rest of the story and an in-depth analysis of the Portsmouth, New Hampshire, Real estate market. 
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
The November sales stats for single-family homes in Portsmouth, New Hampshire, are out. * Closed sales 17 vs. 18 for the same time in 2021.* Days on the market were down from 24 in 2021 to 13 days in November 2022.* Pending sales are sales under contract but not closed. These are good predictors of near-future activity. November pending sale will be completed in December or January. 11 pending in 2022 vs. 9 in 2021.* Month's supply of inventory, 2 months which means it would only take 2 months to sell all the current homes for sale in Portsmouth. This number indicates we're still in a seller's market.Take a look at the rest of the stats. We're happy to supply the same data for your New Hampshire town; drop us an email or comment below. We're happy to discuss what these numbers could mea...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
"Yesterday, December 7th, 1941—a date which will live in infamy—the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan."Those words began US President Franklin D. Roosevelt's speech to Congress as he asked for a Declaration of War against Japan. 81 years ago today, Portsmouth, NH, residents heard a news flash on the radio that the Japanese were attacking our Naval base at Pearl Harbor. That marked the U.S. entrance into World War II.The story below is reposted again with permission from a good friend and fellow Realtor, Saul Klein, whose father was actually at Pearl Harbor during the attack. The elder Mr. Klein was a young sailor and sat down many years later with his son Saul to memorialize his story.To set the stage, listen t...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Are you making a mistake by not listing your Portsmouth, New Hampshire house for sale now? There are three great reasons why selling your house during the holidays is a great idea. Watch our 1 minute video to find out why now may be the best time to put your house on the market and get it sold. 
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
 If you're selling your house, it's time to get real on pricing. Today's market has cooled somewhat from the frenzy of 2021, but the good news is that homes are still selling even with the rise in interest rates. You need to have an experienced professional help you price your house to today's market, not last year's, and you'll be a lot closer to getting your home sold for the best price in the shortest amount of time and with a minimum of hassles. Give Ann and me a call today, and let's talk. Click this link https://bit.ly/3ABUcVy to see the latest Portsmouth, NH sales data. #annandjim #lifeontheseacoast
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Closed sales. Portsmouth, NH, is a town of approximately 22,000 people and an area of just under 17 square miles, making it a fairly small city with a small but pricey real estate market. Because of that, the number of closed sales dropping 23.5% in October versus the same time in 2021 doesn’t mean much.Average days on the market for Portsmouth, NH, single-family homes and condos.The average days on the market tell us how lively the market is and how fast homes sell. The Portsmouth average for single-family homes and condos of 33 days tells us the market is still pretty vibrant despite rising interest rates. Why is that? The supply of homes for sale is still low, and demand is still pretty strong.Portsmouth NH absorption rate October 2022.The absorption rate, or the number of months’ su...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Here's our August 2022 real estate market update for Portsmouth, NH. We'll have the September update in early October after all the September closings settle and get processed. Would you like a market update for your town? Just drop us a line or comment here and we'll get it for you right away. #annandjim #lifeontheseacoast
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
 Will home prices fall this year? Here's what the experts say; watch this 1-minute market update.#annandjim #lifeontheseacoastVisit the New Hampshire Seacoast here.
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Why It’s Still a Sellers’ MarketAs there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know this market is still anything but typical.Even though the supply of homes for sale has been growing this year, there’s still a shortage. And that means conditions continue to favor sellers today. That’s because the inventory level of homes for sale can help determine if buyers or sellers are in the driver’s seat. Realtors call it the “Absorption Rate.”Click here to find out how to calculate your local absorption rate and why it's important to know.
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Ann and Jim will supply the missing pieces for your real estate sales puzzle. SOLD is the most important piece, don't let yours be missing. Our Virtual Home Selling program gets your home sold safely, quickly, and for the best price. Call #AnnandJim today to complete your puzzle. Direct 603-436-1221
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