Blog :: 10-2014

Great Fixer Upper in New Castle NH Newly Listed!

Welcome to 3 Oliver Street!

Set on one of New Castle's most popular streets, this charming fixer upper has great potential. Many search for real estate in New Castle that they can make their own... here it is!

Features include:

  • Large fenced yard
  • Detached 1-Car Garage
  • High Ceilings
  • Cozy Fireplace with Custom Mantel
  • Wide Wood Flooring
  • Original Period Details and Trim
  • Tons of Warm, Natural Light

Click here for more details on this lovely New Castle NH home!

The Do's and Don'ts of Obtaining a Real Estate Mortgage

During the process of a home buyer's loan there are certain things to be aware of that could impact the loan transaction. During the loan approval process, the borrower's credit history, income and assets are verified for the initial approval and often times just before the loan closing. So here are some Do's & Don'ts to make home buyers aware of to help ensure closing:

DO:

  • Tell the mortgage planners of all debts and liabilities
  • Keep credit accounts current - such as existing mortgages, car payments and credit cards
  • Contact the mortgage planner before changing jobs, leaving your current job or becoming self-employed
  • Retain copies of all paycheck stubs and any statements on bills being paid off during the loan process

DON'T:

  • Authorize any inquiries into your credit (that is, don't apply for any financing including charge cards, appliances, vehicles or charge a large amount on an existing credit card)
  • Close any open accounts
  • Co-sign a loan for anyone else
  • Sign up with any credit repair or 'consolidation' companies
  • Spend money that has been set aside for closing
  • Make large account deposits into a bank account outside of payroll or gift funds

Article Courtesy of

Scott McCauley, Mortgage Planner

Regency Mortgage Corporation

Phone: 603.610.8852

Email: scott.mccauley@regencymtg.com

NMLS #174108

Licensed by New Hampshire Banking Department, NMLS # 1938

 

Town Spotlight: Dover NH

Known as 'The Garrison City', Dover is home to approximately 30,000 people and is located in Strafford County, New Hampshire. The Cocheco River winds through the city, setting the scene for a charming downtown complete with updated millyards, beautiful brick buildings and an abundance of thriving small businesses.

Location, Location, Location

Dover is a desirable homebase for residence and commerce alike. Residents love the proximity to major commuting routes (the Spauding Turnpike travels through Dover) and its accessibility to dining, shopping and everything else that suits a busy, active lifestyle. The arts scene is vibrant with local music and studios and there is always something going on whether it be the annual Apple Harvest Day or a 5K road race through the city. As home to The Children's Museum of New Hampshire and Henry Law Park there is plenty for children to do in town as well! Public transportation in Dover is a breeze. The Amtrak Downeaster train stops in Dover giving passengers a direct line to Portland, Maine and Boston, Massachusetts.

Real Estate in Dover NH

The real estate market in Dover is always healthy with a very versatile cross-section of homes available. Homes in Dover NH that are currently on the market range from a two bedroom mobile home under $40,000 to a 19 room, 17 acre estate, Three Rivers Farm, currently priced at 3,999,000. The homes along the Cocheco waterfront are beautiful and there are also many great little neighborhoods throughout the city. Rentals in Dover are also very active with apartments in the Cocheco Mills and all over the downtown area.

Number of Homes on the Market TODAY - 205

Average LIST Price in the Last 60 Days - $277,682

Average SOLD Price in the Last 60 Days - $274,111

Number of Homes Sold in the Last 60 Days - 82

 

Portsmouth NH Restaurant is Back in Action

After a few months of renovation The Rusty Hammer in Portsmouth NH is cranking again! After officially opening in mid September, "The Hammer" has been up and running for over a month. Of course, we have to go visit our neighbor across the street!

We were so excited to see the new look. The downstairs portion of the restaurant has been compacted into a smaller space and updated with a cool bar and open feel. The second floor at The Rusty Hammer, which was previously used as a function room, has been converted into a second dining room with its own bar. It is warm, cozy and beautiful!

The food is exactly as you remember it! There are so many restaurants in Portsmouth, but this is an institution. When news hit that the restaurant was being sold and changes were being made, lovers of The Rusty Hammer made their opinions known about menu changes and Ryan and Crystal Cronin responded perfectly. Much of the staff returned, including kitchen and waitstaff and the menu is just right. A condensed version of Rusty Hammer favorites and some new additions. It is delicious!

Give The Rusy Hammer in Portsmouth NH a try and stop by across the street to say hello!

 

What is Title Insurance and Why Do You Need It?

Sounds boring, doesn't it? Title insurance isn't the most exotic topic, but it's one of those things you just need. A home with a title issue could turn into a major headache and may have serious consequences.

So, What is Title Insurance?

Title insurance protects lenders and owners against title issues tied to your home. There are two types of title insurance - a Lender's Policy and an Owner's Policy. When obtaining a mortgage on a home, most lenders will require that a Lender's Policy be purchased. This type of coverage protects only the lender, not the borrower, on their investment. The Lender's Policy does not cover equity in the property and will not pay legal expenses if there is a problem. Only an Owner's Title Insurance Policy will protect the property owner from defects in title that could have a significant impact on the interest in the property.

If you are not financing the purchase of your home, an Owner's Policy becomes that much more valuable. Far less expensive than lawsuits and legal advice, the one time Owner's Title Insurance premium is simply the best protection for you and your heirs against the unforeseen.

Why Is Title Insurance So Important?

There are several hidden risks that make title insurance a necessity when purchasing a home. Our friends at Signature Escrow and Title Services identify the top hidden risks as:

  • Undischarged Prior Mortgages
  • Improperly Signed Documents
  • Tax, Current Use, or Mechanics' Liens

These are the most common risks that may exist but they are certainly not the only ones. Clerical errors, fraud and missing heirs are among just a few of the other potential problems that could pop up. Taking care of these issues during or after the purchase of a home could be incredibly expensive and a huge headache. Not only could it affect your interest in the property (which is a big enough concern) but if you want to sell your home marketability could be at risk.

Click here for more information on Title Insurance