This is my crystal ball look at the single family real estate market for Sullivan County NH for 2012. None of this may transpire; however, it is fun to see how well I do in predicting how the single family real estate market will turn out for 2012. Much of this is based upon my experience as a certified residential real estate appraiser for the past 23+ years and analyzing real estate trends for that period.
Currently the real estate market is very slow for sales with values remaining relatively stable for the past 15+ mos in most market segments. Values below $100,00 are mostly driven by bank foreclosures or resale of properties which were purchased at foreclosure by investors or such and fixed up and resold for quick sale purposes. This segment of the market will remain very active and may increase for the first two quarters of 2012 and begin to taper off as the real estate market begins to firm up with a slowly improving economic market.
Values in the $100,000 to $ 150,000 price range will see little change for the first two quarters of 2012 and may begin to see a slight rise in value towards the end of 2012 as the foreeclosure market inventory begins to shrink and downward pressures begin to ease.
Values in the $150,000 to $200,000 price range will be fairly stable and sales still very slow for most of the year as buyers will be looking for good deals as the real estate market slowly improves.
Values in the $200,000 to $250,000 price range will be stable with sales remaining very slow with a slight improvement during the summer selling season and slowing back down during the winter months at the end of 2012. Buyers in this market segment tend to be the professional working class and upper management professionals. These people tend to be two income homeowners who are in the peak earning years of their occupations.
Values in the $250,000 to $350,000 price range will see slow sales growth beginning early summer thru the fall timeframe with no increase in values anticipated. Much of this market is tied to seasonal properties around the lakes and ski areas. Until the economy shows good job growth and improvement, this market segment will tend to remain very slow.
Values above the $350,000 price range will be remain flat with inventory slowly increasing as the economy improves as sellers will want to move on as buyers begin to return to the market with the improving economy.
A strong theme in the above predictions is a slowly improving economy and jobs market towards the second part of 2012. No sharp improvement is expected since this is an election year and politics tend to impede any change in policy which would greatly help the economy.
It will be fun to analyze how I did when 2012 comes to a close. I can only hope for a better economy and jobs market and faster improvement than I predict.
The above are only my predictions and readers may believe this will happen at their own risk. I make no guarantee that any of this will take place. (Must have a disclaimer).
Brian Paul Lessard, IFA
Thank you, we'll be in touch!