North Conway, NH (PRWEB) April 12, 2006
We’ve all heard the speculation on the national news: Is the real estate bubble about to burst?
Not in New Hampshire’s Mt. Washington Valley, a popular four-season destination resort. According to Karla Badger, GRI CRS, who’s been a leading real estate agent in the area for over 30 years, “Our local real estate market isn’t a bubble—it’s more like a balloon. Values increased significantly in the past few years and the area has experienced a building boom, driven in part by Baby Boomers, who are in their peak earning years and are buying second, even third homes—or helping their children in their real estate purchases. But with the upward creep of interest rates, we’ve seen a slight adjustment in the local market that’s rather like a balloon leaking a little air. The balloon isn’t as inflated, but neither will it burst like a bubble.”
Badger, who specializes in the sales of residential real estate, explains that the real estate market is unique in the Mt. Washington Valley: since the area is surrounded by the 800,000-acre White Mountain National Forest and other protected land—which effectively limits expansion—there is a limited amount of buildable land available. Increased land values coupled with rising construction costs mean that the cost of new homes isn’t likely to decline, nor will the value of existing homes which “chase” the cost of new construction. Badger says that, unlike markets such as Boston where prices have decreased quite a bit, “the market in the Mt. Washington Valley is fundamentally sound.”
“What does this mean if you’re considering buying a home here?” she continues. “Now is a great time to buy, before prices and interest rates again rise—and there is a better supply of available properties on the market now than a year ago. It’s also good to keep the subject of mortgage rates in perspective: they still are low, especially when compared with the double digit rates of the 1980s.”
Badger says sellers are still in a good position. “Well-priced properties—especially those that are well-prepared for the market—continue to sell. The growth in our local economy, low inflation, reduced closing costs and loans that make it easier to become a first-time home buyer mean that we can expect even more buyers to want to purchase in Mt. Washington Valley.”
Badger concludes, “Remember, real estate is—and will remain—the most stable investment anyone can make now and in the years to come.”
A graduate of the Realtors Institute (GRI) and a Certified Residential Specialist (CRS)—a designation earned by only 4% of real estate agents nationwide—Karla Badger is one of the most knowledgeable and successful brokers in the Mt. Washington Valley, with over 30 years of experience in residential sales. A member of the Badger Realty team (but no relation to Badger Realty’s founder, Dick Badger), she is also responsible for the first year of training for all the firm’s new sales agents—a testament to her expertise, attention to detail and commitment to mentoring the next generation of real estate professionals. Badger Real Estate is located on Rt. 16 in North Conway, NH 03860. 603-356-5757. http://www.badgerrealty.com