Woah - We just low balled a house for sale in NH, and they want the offer in writing ...What to do.. (Plymouth: 2010, broker)

[motoracer51]

I've posted here a few times in the past, and lurk on a daily basis. The wife and I are interested in the FSP, and NH is really the only palatable state for me in the north east that I can live in and still be reasonably close to family in NY.

Yesterday we gave a low ball offer on a house in Central/Northern NH, and it seems like the owners are ready to dump it. The broker got back to us today and said to put it in writing and that an inspection would best be done in spring time.

This house originally was listed at $699K and we offered $300K.

House is built in 2004, ~4000sq/ft on about 75 acres bordering the National Forest. TONS of water and trees, something we lack in Colorado, and the west in general.

Now this is taking me by surprise as I figured that we'd be laughed at with that offer, and I'm really skeptical about NH in general, given the severe political swing in the last 2 election cycles. I love the FSP idea, and have heard of it's progress, but still have my fears of certain things in NH, and the north east in general like:

-LONG and COLD winters.
-Seems to becoming more Liberal judging by the last 2 election cycles.
-Heating costs - but we're considering a outdoor wood boiler if we end up in NH.


What to do...

[buck naked]

This house originally was listed at $699K and we offered $300K.


I'd take it... it sounds perfect...you might want to check to see if there are time limits on the conservation land...but hey. either way. I don't see how you could lose, especially if you are going with wood heat. My only question would be flooding? That has to be taken into consideration given the past two years.

[buck naked]

forgot to mention - the long and cold winters - they are here...no doubt. We have a lot of snow on the ground and always something in the forecast. It's just flurries this morning.

So, you will have to learn to like winter sports. If you are not a skier, check out sno-mobiling or snow shoeing...once you learn to like the weather, everything else just falls in line.

[fishnfool]

I wouldn't worry too much about the politics. The small government movement is alive an well in NH, inspite of the last election. People did a referendum on the Bush administration and voted to alternative but once they see what they are going to get for their votes I think you'll see a return to true, non-Bushean conservatism.

Most of the massachusetts crowd tends to stay on the border in Southern NH and the Seacoast. You should find plenty of like-minded people in the northern and central parts of the state.

[NH2008]

If you're not 100% sure you want to live here, I sure wouldn't make a legally binding offer. People can ask whatever they like, the only number that counts is the amount it actually goes for. They could have asked for $1 billion and 300k still might not be a great deal if similar houses are going for 250. More important, if you don't want to live in NH, it wouldn't matter if you could get the house for free!

Don't rush into anything you're not ready for. Housing prices are going to continue dropping for a long time. There will be other bargains out there if this isn't the right time/place for you.

[nicolem]

Congrats on your offer being accepted. I am surprised as yes the housing market has fallen, but I am surprised by that much and especially with all that land. I would think the land alone would keep the price higher unless there is a conservation easement of some sort on it. I guess they are very motivated sellers.

Regarding the long and cold winters-The last two winters have been long, and snowy. Last winter we had snow on the ground until almost May-at least where I live and I am not far from Plymouth. Cold is relative- I don't think this winter has been all that cold compared to others that I remember. Actually since Fall of 2005, we have broken records in every kind of precipitation. We had three major floods-Fall 2005, Spring 2006 and 2007. A lot of damage was done throughout the state and lives were lost. We also had bad flooding and tornados this past summer.We had a record breaking winter (last winter). This winter is on target with last winter. Not saying this is not a reason to move here, but we seem to be in a pattern of lots of precipitation and not a lot of sun-even in the summer. I would definetly look into flooding issues as I believe the area by Plymouth was affected from the floods last summer.

As far as politics, I am not as optimisitc as some on this board. I thought 2006 was bad and then 2008 came along. While there are freedom lovers such as yourself who are moving here, there are also those who move here-escaping socialism only to vote it in. I just read that they are starting up with the Seatbelt law again. While there are people who are working hard to ensure that the fiscal conservatives and lovers of personal freedoms reclaim the NH state house in 2010-the dems are working just as hard and are actually more organized-I hate to admit that but it is true. The republicans have a lot of infighting going on and they need to realize that in the past republicans were elected due to the fiscal conservatism and the live free or die motto not the religious right. Hopefully Papa Sununu can get the party back on track. I think 2010 is the real test for NH. Hopefully fiscal conservatism and live free or die will win out.

Just my .02

[Valerie C]

Nicole, that was a great answer--hopefully I can rep you for it

MotorRacer, congrats on getting a lowball offer accepted. It sounds like a steal of a deal. With 75 acres, you'll want to check the deed carefully for easements, etc. I'm sure that the property is in Current Use status to keep the taxes down. If you're not already aware, you should do some reading up on Current Use, and make sure you dont' do anything to jepordize that status. Your property tax increase would be staggering on that amount of land...

Your agent, assuming you have one, will surely go over all of this and much more with you. I'm curious with the "inspection best done in spring". I'm going to assume that you've seen this property in person, and that inspections, financial commitment, closing, etc will be scheduled for spring. Do you have a home sale contingency? Just be sure that there is an escape clause for you...

Now, to address your fears...
-LONG and COLD winters.
-Seems to becoming more Liberal judging by the last 2 election cycles.
-Heating costs - but we're considering a outdoor wood boiler if we end up in NH.

Well it's no secret that we have LONG and COLD winters. Being in northern NH and bordering the White Mtn. National Forest, you don't need me to tell you that snow will be part of your life, possibly starting as early as October and lasting into May... That's a looong winter.

I have the same concerns that Nicole has with the political climate here. I work with a signifigant number of relo clients, and many of them chose to live here BECAUSE of the lack of taxes is attractive. Once they realize that NH is unlike anywhere else that they've lived, some chose to embrace it. Others decide that it's not for them after all. I do hope that the current situation is in response to the Bush Administration, but I'm not counting on it...

[dognh]

What town is it in?

75 acres + a house for 300K sounds like a good deal...on paper. But there are remote and depressed areas of NH that for half the price it wouldn't be worth it unless you're retired and flush.

[Slalom]

I find the winters both shorter and warmer than they were 20 years ago. As others have said, it helps if you have a winter activity to keep you busy.

Sounds like an incredible price, and having 75 acres abutting the National Forest would be really, really sweet.

[GregW]

If you have not seen the sight at least Google Street View the place. You might be getting a house and 70 acres of mosquito swamp. I would take the time to drive up and look ASAP. If you cannot drive in there take a snowmobile. If you need a helicopter to gain access try a lower offer.