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FNMA and Freddie Mac Uniform Appraisal Dataset Specification

This course has been approved by the New Hampshire Real Estate Appraiser for 3.5 hours of recertification education credits towards the Appraiser license and Certified/Certified General renewal.

Starting in September 2010 FNMA & Freddie Mac are working to develop and implement uniform appraisal and delivery data standards.    This is to assist them in capturing consistent and accurate data so they can effectively assess risk on the mortgages they purchase.

THIS MEANS APPRAISERS WILL HAVE NEW STANDARDS AND NOMENCLATURE  TO ADHERE TO WHEN WRITING THEIR REPORTS.

This class will educate the appraiser as to the Changes being made, the  Reasons these changes are being made,  the Uniform Appraisal Dataset,  and the dates these REQUIRED changes WILL BE IMPLEMENTED.

A 36 Page  Field Specific Standardization Requirements Booklet and a reference  guide to the web sites for  all of these changes.

Available Class Dates:
March  22, 2011 – 8:30 AM to 12:00 noon
April 20, 2011 - 8:30 AM to 12:00 noon
May 20, 2011 - 12:30 PM to 4:00 PM

Location: New Hampshire Association of REALTORS
115A Airport Road, Concord, NH

Each class will hold 50 people, don’t miss out.

COST: $60.00 IN ADVANCE
$75.00 AT THE DOOR (space permitting).

For additional information please email us or
call Brooks Real Estate Services 603-537-1144.

The 2010 Census has made it official: New Hampshire had 1,316,470 year-round residents on April 1, 2010. That’s about 80,700 more than on that same date in 2000, a 6.5 percent increase. While that rate of growth was below the national rate of 9.7 percent, it was by far the highest rate among the nine states in the Northeast region.

Maine’s growth rate since 2000, for example, was only 4.2 percent. Despite that slower growth, the Census still found almost 12,000 more people in Maine compared to the Granite state. Our other neighbor, Vermont, edged up just 2.8 percent from 2000 to 2010. New Hampshire’s population growth rate is slowing, however. During the 1990s, its residents increased 11.4 percent and the state gained 126,500 new residents.

Both Maine and New Hampshire retained their two seats in Congress, but Massachusetts, where growth was only 3.1 percent over the past decade, lost one representative out of its 10. Any state that grows much more slowly than the national average over a long period is in danger of losing representation.

More detailed information from the Census will be coming out this spring and early in the summer, and it will be reported here. But while the Census Bureau is busy processing its data, indicators from other sources suggest that New Hampshire REALTORS can look forward to much improved conditions for home sales.

Perhaps the best indicator is the Philadelphia Federal Reserve Bank’s index of economic activity, by which a high and rising index indicates an improving economy. By this measure, New Hampshire is recovering from this recession better than any other state.  Its index is 189, which is at a two-year high and is now the highest index among the 50 states. By comparison, the average for the other New England states is only 150, which is also the national average.

One other important indicator is our unemployment rate, which was 5.4 percent in November. That was the fourth lowest rate in the nation but is probably below 5 percent by now. Our state is clearly moving toward a period of economic growth that can only be good news for our housing market.

End of the year data from NNEREN shows that about 850 homes were sold in December 2010, a 2 percent increase over the previous December. The median selling price was $214,900, which was 4 percent higher than December 2009.

For the year 2010, the median home selling price was $215,000, which was 1 percent higher than the 2009 median of $212,000. That’s the first annual increase in several years, and when combined with positive indicators discussed above, suggests that home prices have stabilized and are likely to continue on an upward trend this year.

There were 10,525 home sold in 2010, which was 3 percent below the 10,810 sold in 2009. But four counties showed a year-over-year increase in home sales: Grafton up 7 percent, Belknap up 5 percent, Rockingham up 1 percent, and Carroll up 1 percent. One possible reason: Those are the four counties with the highest concentration of second homes.

Millions of Baby Boomers are approaching their retirement years, and quite a few of them have enough assets to afford a second home, which they might want as one of their retirement homes. The Wall Street Journal reported in its January 10, 2011 issue that despite lackluster home sales nationwide, “Sales in many vacation communities across the U.S. soared last year to levels not seen since boom times …”

That story reminds us once again that the demand for housing in New Hampshire is not just driven by employed individuals or families looking for a home to buy. There are also buyers who are just looking for a second home, a retirement home or both, and they are a significant factor in our state. There are over 60,000 homes in New Hampshire that the Census Bureau classifies as “…for seasonal, recreational or occasional use” – that’s more than 10 percent of all 600,000 dwelling units in the state.

In addition to 10,525 residential units sold statewide in 2010, there were also 2,635 condominiums sold at a median price of $165,000. That median was the same as last year, but unit sales were off 4 percent from 2009.

To view the residential unit sales and median price for both December-only and cumulative 2010, as compared to the same periods in 2009, click here.
More detailed information from the Census will be coming out this spring and early in the summer, and it will be reported here. But while the Census Bureau is busy processing its data, indicators from other sources suggest that New Hampshire REALTORS can look forward to much improved conditions for home sales.Perhaps the best indicator is the Philadelphia Federal Reserve Bank’s index of economic activity, by which a high and rising index indicates an improving economy. By this measure, New Hampshire is recovering from this recession better than any other state.  Its index is 189, which is at a two-year high and is now the highest index among the 50 states. By comparison, the average for the other New England states is only 150, which is also the national average.One other important indicator is our unemployment rate, which was 5.4 percent in November. That was the fourth lowest rate in the nation but is probably below 5 percent by now. Our state is clearly moving toward a period of economic growth that can only be good news for our housing market.End of the year data from NNEREN shows that about 850 homes were sold in December 2010, a 2 percent increase over the previous December. The median selling price was $214,900, which was 4 percent higher than December 2009.For the year 2010, the median home selling price was $215,000, which was 1 percent higher than the 2009 median of $212,000. That’s the first annual increase in several years, and when combined with positive indicators discussed above, suggests that home prices have stabilized and are likely to continue on an upward trend this year.

There were 10,525 home sold in 2010, which was 3 percent below the 10,810 sold in 2009. But four counties showed a year-over-year increase in home sales: Grafton up 7 percent, Belknap up 5 percent, Rockingham up 1 percent, and Carroll up 1 percent. One possible reason: Those are the four counties with the highest concentration of second homes.Millions of Baby Boomers are approaching their retirement years, and quite a few of them have enough assets to afford a second home, which they might want as one of their retirement homes.

The Wall Street Journal reported in its January 10, 2011 issue that despite lackluster home sales nationwide, “Sales in many vacation communities across the U.S. soared last year to levels not seen since boom times …”That story reminds us once again that the demand for housing in New Hampshire is not just driven by employed individuals or families looking for a home to buy. There are also buyers who are just looking for a second home, a retirement home or both, and they are a significant factor in our state. There are over 60,000 homes in New Hampshire that the Census Bureau classifies as “…for seasonal, recreational or occasional use” – that’s more than 10 percent of all 600,000 dwelling units in the state.In addition to 10,525 residential units sold statewide in 2010, there were also 2,635 condominiums sold at a median price of $165,000. That median was the same as last year, but unit sales were off 4 percent from 2009.

To view the residential unit sales and median price for both December-only and cumulative 2010, as compared to the same periods in 2009, click here.

Author Peter Francese for the NH Association of Realtors – reused with permission.

Like – Dick Clark,  be sure to update and change some of your equipment during  this year.
New cheaper computers, copiers, scanners, cameras, Windows Seven, mobile phones.  Last year I had to change ALL of my equipment  in one fell swoop.  That was cultural shock to the n’th degree.  Update  some of it periodically,  before you HAVE to.

The next thing that needs to be updated and changed in my organization…is me!

Learn something new.  Going to a 3 or 7 hour class is not necessarily learning.    It is a beginning.  Get the introductory  information  and do the additional research to learn more.

Building techniques, new market forces and trends,  opinions of new young people coming into the market.  Are they coming into the market?   Single family homes as rental properties.

Is the government really stupid enough to do away with the tax deductibility of mortgage interest expense. (The short answer is YES.  The long answer is let’s fight like hell to prevent that.    This will be a hot topic early this year as the Fed’s are looking for Tax Money to pay for OB’s  Health Care.  If that does happen, I’ve got dibs on selling pencils at the corner of Elm & Hanover Street in Manchester.

Most of our clients are going to require more and more information.  If you haven’t been including Google Earth neighborhood maps and copies of your MLS research results in your reports,  distance from your office to the subject,    you will be.

Don’t let them tell you that because some of the competition has been working for sub par money, that those are   TYPICAL AND CUSTOMARY  FEES for the area.    As we all know, there are lenders out there paying appropriate fees.  Keep your self confidence and integrity to maintain your fees.

UMDP is coming,  UMDP is coming!

Two final things.  (1)    2 tellers at my local bank yesterday were emphatic telling me the turn  around in the economy  will not happen until 2012 .

One final thought:  We will know when we are at the bottom of the market when values get to 1998  levels.  Or should I say,  will we know we are at the bottom of the market when values get to 1998 levels?

BPO’s will become a thing of the past for definition of pre foreclosure values, which may be good news for appraisers unless the Banks want to save even more money (by not paying for an appraisal) than they have already  (after getting the wrong valuation information, carrying the property for an extra ordinary amount of time, having to deal with break ins and missing copper pipes, then selling the property for values that have fallen another 6 months worth) and utilize  assessed values.

33 Years of New Hampshire Real Estate Experience
George F. Brooks III, CCIM, GRI
Brooks Real Estate Services
8 Gordon Drive
Londonderry, NH 03053

P:  603.537.1144
F:  603.537.1155
C:  603.661.0028

Website:  Brooksrealestatenh.com

Brooks Real Estate Services began in 1989 under the leadership of George F. Brooks III offering superior Real Estate Services to Lenders, Attorneys, Corporate Clients as well as Investors and Home Owners.

These Real Estate Services are offered in the Residential, Commercial, Industrial and Investment markets.

Brooks Real Estate Services strives to provide Professional, Timely and Quality service utilizing leading edge technology and research as well as  state of the art analytical techniques.

To learn more about how Brooks Real Estate Services can be of service to you , please browse through our web site or contact us today.

Office

Report Writing Class

By George F. Brooks III

When: Tuesday, April 20, 2010

Where: Brooks Real Estate Services

40, Harvey Road

Londonderry NH 03053.

Registration: 8:00-8:30 AM & Class starts at 8:30 AM sharp.

Cost:  $130

Sign up to register for Report Writing Class

Fax this form to (603) 537-1155

Name:____________________________________________________________________

Address:_________________________________________Phone____________________

Email:____________________________________________________________________

_____ Register me for the April 20, 2010 - Report Writing Class: $130

Total: $________________

Send payment to 40 Harvey Rd, Londonderry, NH 03053

Any questions, Please call us at our office – 603 537 1144.