HKS REALTORS/Consultants is pleased to announce that Michael Staples has joined the HKS Sales team in the Keene Office.  Michael grew up in the area and after Graduating Keene High School began to travel the US. Returning home recently has been able to use his life experiences  as an opportunity to use his knowledge and skills to help in what for many is the most important financial decision they are likely to make. Michael is look forward to providing excellent service and building stronger communities through Real Estate.

HKS Associates is AMONG FIRST TO PARTICIPATE IN NEW CERTIFIED MILITARY HOUSING EDUCATION PROGRAM

Course aims to educate housing professionals on the unique circumstances

Of the military homebuyer

KEENE, NH 04/08/2012  USA Cares has launched a new education course designed to provide loan officers, realtors and housing professionals with a clear understanding of how to work with military clients. HKS Associates is pleased to have a graduate Lisa Hall of this new program and be among the first housing professionals to offer this level of expert customer service to military men and women. Through the USA Cares Certified Military Housing Specialist Course – accessed online at www.usacares.org – the CMHS Course provides the tools and knowledge needed to effectively work with military borrowers, especially in a fast-paced and competitive market. It also includes timely advice for housing professionals regarding foreclosure prevention, with tips they can give their clients to help them avoid mortgage delinquencies in the future.

“This course aims to put greater numbers of military families into affordable homes through knowledgeable professionals who understand the unique circumstances brought about by military service” remarked USA Cares Executive Director Bill Nelson.

The course’s author, Beverly Ray Frase, has a strong background as loan officer, real estate broker and career army wife.  “I’ve been on all sides of the home buying process,” says Beverly.  “I know where the speed bumps are, especially for our military men and women.  Working with a certified housing professional should move them down the path to an accurate and timely closing.”

The course helps all housing professionals make sense of the military language, rank and pay system. It even outlines what happens when a service member is injured, and explains how their pay will continue during hospitalization and treatment. Earning the Certificate of Completion for the CMHS Course indicates a significant knowledge base that active duty service

members and veterans can rely on for prompt and accurate service of their housing needs. Certified Housing Professionals will adhere to specific Standards of Practice, representing a commitment to provide quality service to military borrowers.

USA Cares is no stranger to supporting the homeownership goals of military families. “We’ve paid out over one million dollars to save military family homes in the past three years,” said Jennifer Robinson, USA Cares Director of Assistance. “This new effort will help reduce the need for such assistance by supporting military borrowers and their lenders as they work together to make affordable and sustainable housing decisions.”

HKS Associates is longest serving real estate firm in Keene NH . 

About USA Cares

USA Cares is a nonprofit 501(c)3 organization that helps post 9/11 military families bear the burdens of service with financial and advocacy support. Its mission: To help with basic needs during financial crisis, to assist combat injured Veterans and their families and to prevent private military home foreclosures and evictions. In eight years, USA Cares has received over 31,000 requests and responded with more than $8 million in grants. Military families anywhere in America can apply for assistance through the USA Cares web site, http://www.usacares.org/ or by calling 1-800-773-0387.   For more information on the CMHS Course go to the USA Cares website or email Beverly.frase@usacares.org. 

Bruce Murphy of HKS Associates, REALTORS  in Keene was recently a guest on the Cheshire TV talk show “Speak up”. The 45 minute interview covered topics ranging from the local market, foreclosure options and benefits of using a REALTOR  in today’s ever changing real estate climate.  The show will rebroadcast several times in the next few weeks on channel 8.

The Department of Housing and Urban Development has launched a Web-based tool that displays the location of foreclosed properties owned by Freddie Mac, Fannie Mae and the Federal Housing Administration.  The three agencies combined own approximately 250,000 foreclosed properties nationwide.  

The portal is designed to encourage the sale of these properties.  Buyers can track the properties and compare communities and neighborhoods.  “This mapping tool gives local communities a much clearer picture of where these foreclosed properties are, so they, along with private investors, can focus their energies in especially hard-hit neighborhoods,” explained HUD Secretary Shaun Donovan.

We in the Monadnock region are fortunate that our foreclosure market is not as severe as in other parts of the country.  Our real estate market overall in the past year has seen only a 4.7 % decline. Yet, each community is differently impacted by foreclosures, and the HUD mapping tool allows a buyer to target those properties.

The savvy investor can look to these foreclosed properties for a purchase, not necessarily to immediately place on the market, but perhaps to rent long term.   Such a strategy would reflect a report in a recent issue of Mortgage Service News that rental prices are surging as home values remain moderate.   A recent report from Analysts at  Foreclosure Deals predicts a 3% increase in rents nationwide for the year 2012. 

New Hampshire Audubon annual winter bird survey 

Anyone can be part of the survey! 

Backyard Winter Bird Survey participants report any bird species visiting their yard and/or feeders in New Hampshire on the second weekend of February. Originally begun as a “Cardinal-Tufted Titmouse Census,” it was expanded in 1987 to gather information on the distribution and abundance of many winter species in New Hampshire. 

The dates are February 11 and 12^th only. Watch and count the birds in your yard any time during the weekend.  Visit  winter survey  and print a form to participate.

Watch as little or as long as you wish, just note the total time. 

 Count and record whatever birds you can see from your backyard – they could be at your feeder, flying overhead, or swimming in the river bordering your yard. If you can see it while standing in your house or yard, you can report it. If you watch from more than one residence, use separate forms for each location.

 Visit New Hampshire bird Records for more information about NH Birds. 

An absorption rate is a very handy calculation that helps us understand supply and demand in the real estate market.  The absorption rate tells how many months it would take to sell the entire existing inventory on the market (assuming no new homes come onto the market).

In a balanced market between buyers and sellers the absorption rate should be around six months. Each community is different and some of the smaller communities have higher figures. When the absorption rate is high, buyers in these communities have more choices in selecting properties to purchase.  So, if you’re considering selling your home in an area with a high absorption rate, make sure the home is priced right and in tip-top condition!

Currently we are seeing a 10.32 month absorption rate for single family homes in Keene, NH.

One area in Cheshire County that has an extremely high abortion rate is the multi-family market.  In Cheshire County, excluding the city of Keene, the absorption rate is 31.38 months of inventory.  The multi-family homes in the city of Keene only have an absorption rate of 5.05 months.  Primarily due to it being the County Seat and home to many businesses and colleges, which has increase the demand in the rental market.

Outside of Keene, the prices of multi-family homes have continued to decline.  Since the rental market is strong,  NOW might be the time for the purchase of these incredible buys, to capitalize on tomorrow.

ABSORPTION RATE FORMULA

1)      # OF CLOSED SALES IN THE LAST YEAR DIVIDED BY 12 = # OF SALES PER MONTH.

2)      # OF CURRENT ACTIVE LISTINGS DIVIDED BY # OF SALES PER MONTH = # OF MONTHS OF INVENTORY

# OF MONTHS OF INVENTORY = ABSORPTION RATE

The Definition of Absorption Rate:

Number of months it takes to sell the current inventory at the present rate of sales

The Federal Housing Administration (FHA) has extended its endorsement of house flipping. Prior to 2010, the regulator prohibited insuring mortgages that would be used to purchase a home that would be sold in less than 90 days to discourage flipping, or buying a home cheaply just to sell it promptly to turn a profit. Last year, the administration waived the rules in order to help reduce inventory and stabilize real estate prices in the floundering housing market. The waiver was scheduled to expire this month, but now has been extended through 2012.

CNN quoted Acting Federal Housing Administration Commissioner Carol Galante who said, “This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight.”

Low-income housing is particularly susceptible to foreclosure and abandonment creating an environment that might be more susceptible to crime. Flipping in those situations can help to keep housing quality higher and prices more stable in the neighborhoods. Galante continued by saying, “FHA remains a critical source of mortgage financing and stability and we must make every effort to promote recovery in ever responsible way we can.”

Flipping transactions must meet certain requirements in order to qualify for the exemption such as the price of the home must be no more than 20% greater than what it was originally purchased for, there must be no relationship between buyer and seller, and the lender must properly inspect the home to justify an increased price when the home is resold.

CNN reports that since the waiver went into effect in 2010, the FHA has insured more than 42,000 loans that were used to purchase homes that were resold within 90 days. The loans totaled $7 billion in principal.

By Ashley Cloninger

Copied from the Wall Street Cheat Sheet

Top insights for investors and entrepreneurs

Tom Codman was born into the real estate profession. He was the son of Harry W. Codman, a  awell know and respected Peterborugh Real Estate Boker.. Before he finished high school Tom Codman had experienced many aspects of the business he would eventually embrace, and his family experience reinforced his property oriented  values. 

He has worked as a landscaper, a carpenter, framer, finisher and painter. He has developed building plans and designs for homes, all in association with his knowledge for real estate value and resale. Perhaps his most distinguished accomplishment in reviewing real estate is his journeyman’s certification in reviving and restoring homes in need of care.

 He has been a life-long resident of the Monadnock region, and he is familiar with the benefits and values of its residents. Besides his family association mentioned above, Tom also ran a successful insurance and real estate business in Peterborough, NH. 

He received his agent’s license in 1995 and his broker’s license in 1998, and he resides in the heart of the Monadnock region just outside of Peterborough, NH.  We welcome Tom to the team!

  Freddie Mac  Promotion Dates:

For all Freddie Mac owned properties  between November 15, 2011 – January 31, 2012 with escrow closed on or before March 15, 2012.

Homebuyer Incentives

Up to 3.0% seller paid closing cost with an acceptable offer.

• 2-Year HomeProtect Limited Home Warranty. This has a value of $1,100!

Selling Agent Incentives are available too! 

• $1,000 Selling Agent Bonus with an acceptable offer.

Please visit the Homesteps web site for all eligible offers

Anna Schierioth from the Contoocook Board of REALTORS and Bruce Murphy of the Monadnock Board of REALTORS both from HKS REALTORS   joined 18,000 REALTORS and guests from across the country at the REALTORS^® Conference & Expo held in Anaheim, Calif., November 11–14. 

The year’s meetings encouraged REALTORS to “seize the day” for the real estate industry to defend and support the rights of homeowners and real estate investors across the nation. Attendees participated in forums and shared their insights into the challenges and opportunities of local markets across the country, examined how changing political and economic landscapes are likely to affect the real estate industry, and networked with colleagues from across the U.S. and around the world.

“Concerns about the general economy and state of the nation’s housing market have led some to question the value of owning a home,” said Schierioth. “REALTORS know how important homeownership is to individuals, families, communities and our nation’s economy. As the leading advocate for private property rights, homeownership and housing issues, REALTORS are committed to keeping housing first on the nation’s public policy agenda.”

Throughout the week Realtors^® participated in forums, classes and workshops to gather the resources, information and skills necessary to help them positively influence their local communities and community leaders and help them effectively serve their buyer, seller and investor clients.

National Association of Realtors^® 2011 President Ron Phipps, praised his fellow members for their resiliency in the face of a challenging year.  “Realtors^® are the future of real estate. This year’s conference has further solidified our commitment to keep the American dream of home ownership alive and accessible for future generations,” said Phipps. 

During the conference, Moe Veissi was installed as the 2012 NAR president.  Explaining his theme, “Realtors^® are at the heart of the deal,” Veissi said that in today’s climate, Realtors^® can be relied upon to fight for and defend consumers’ rights and opportunities to buy, sell and own real estate.

Murphy also had the chance to explore the latest industry innovations and stay up to date on how new products are transforming the real estate business, as approximately 400 exhibitors showcased the newest real estate products and services for the industry during the trade expo.