It has been reported that Derry has the highest foreclosed rate in New Hampshire. Londonderry and Merrimack are not that far back in comparison.
As the real estate market begins to correct itself, it is no happy news to some as they are looking at possible foreclosure on their homes in the next 3-6 mos. There is help for many however most just don't know where to begin to look for help. Some banks are working with people in trying to keep their homes. People that need some assistance should call their mortgage lenders and ask if they could skip a couple of monthly payments and/or tack those extra payments onto the end of their loans. ( it has helped some people stay in their homes)
On the flip side of things, there are many good deals for buyers who may want to purchase a " bank Owned home today. With over 190 homes on the market as of this post, which reflect a 10 months supply, there are good deals to be found!
Short Sales are homes that have not been foreclosed on yet however the banks give the homeowners who must sell a chance to sell at a reduced price and will waive the difference in what is owed and what the new buyer will pay.
Another great way to buy a new home for a great price.
It looks like the next 6 mos should bring the most foreclousers into the market. After that lets hope for a quick real estate recovery.
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21 comments:
Come on Brian. As a Realtor, you should know the correct term is foreclosure.
What impact do you think the huge tax increase that will hit us all late this year will have on those living on the edge? Thanks school board, the town is squeezing elderly exemptions to keep taxes low while the school board wants to spend what? almost $1Million? so that a few kindergarteners don't have to change schools between K and 1st grade.
Anon. 10:40 (aka The Mystery Word Wizard),
Here's a novel concept: why don't you try either getting a life or even better yet think really hard and try contribute something useful to what is currently a very serious issue in our town.
To ignore the issue and just criticize BC's spelling indicates you have a pretty warped sense of priorities. Grow Up!!
Anon 9:52,
I will 'grow up' when Brian, a real estate pro, spells the word correctly. I expect any professional to know about his/her field of expertise. If I am relying on that person for their expertise, I expect they have full knowledge and understanding of the topic.
If I went to a doctor who diagnosed me with a 'tumer' or 'kancer' I would find another doctor.
I reminded Brian in good humor about the mispelling. Its unfortunate that you feel you have to defend him. Perhaps its how you get your life.
It's my fault on the spelling issues as I rush to type and get things out before I look them over for a second time. I will try to be more "patient" with what I send out and correct my spelling ways.
Hopefully the message will get still across.
anon 9:34,
Actually the schools are increasing by 2.4 Million for next year. Its going to be tough for many people next year.
The unfortunate state is due to lenders being too liberal in their loan practices. Many loans should have never been approved. Its sad that families are affected, but the truth is that many of these families should not have been buying houses that they could not afford. Sure, there are unscrupulous lenders, but some of the responsibility must lie with the borrowers.
to : Anon 9:34 AM
Why is it that people such as yourself seem to always take this tone? Why are you so adamant to throw kindergarten and the students of our town under the bus? You attitude is appalling.
We all feel the tax crunch. We all see the auction listings in the newspaper, and realize that each one represents a family forced out of their home.
What I don’t think you seem to realize is that we are a community that has a responsibility to our children. It may sound granola crunchy to you, but the children of any community are its future, and should be a high priority on the minds of all of our citizens, not just those that have children living under their roofs.
Couple that with the fact that kindergarten is now state mandated. We must offer it. Could more be done on a state level to fund it? Certainly, I am sure more could be done… but make no mistake, it still will come out of all of our pockets one way or another.
And it should. This is a move that has been very late in coming. As a community we should have addressed this years ago. We have a responsibility to offer ALL children an equal start in life.
The resentment about doing what is right and offering early childhood education in this town is just simply disgusting.
The public school concept has been ingrained as the backbone of our society for generations. Perhaps you missed it. If you don’t like the whole concept, perhaps this is the wrong country for you.
When I hear commentary such as yours it leads me to believe that your whole decision making process really is only about the money that comes out of your personal pocket? No thought to anything else.
Do you realize that some of the people now losing their homes have children? Don't you think that we as a society have a responsibility to provide a safe place for their children to be during the daylight hours while their parents are hard at work? Doesn’t it make sense that this should be a place that does not require tuition?
My pockets are not deep. I struggle every month deciding how to meet my budgets, keep my grocery bills steady, and wonder when I might be able to begin to save a few dollars for retirement.
But the fact is that there are things that we need to do as a community if we are worth our salt as human beings.
We now will have a place for younger children to go during school hours, where they can learn skills in a safe environment and have a warm breakfast. For some kids, that is their only meal of the day. This is a benefit to our community as a whole, and should not be looked at as the burden that you and your friends seem to see it as.
You can judge a community by the way it treats its children… this is an important thing to remember for all of us.
11;36 so much ranting so little time to respond. Despite your hysterical response, I don't believe I suggested throwing children under buses, starving them or letting them grow up uneducated. Quite the opposite. I simply inquired as to the merits of creating more classrooms in a shrinking school population at a time when taxpayers are already strained. Perhaps the money could be better spent? Maybe even on education?
You arrogance in believing that only you and your buddies care about our children is sickening.
anon 11:36
Just as you say kindergarten has been "ingrained" for generations, perhaps this is something that we should feel a privelage not something we should get because for generations it was "ingrained". Don't get me wrong I believe our children should be educated, but don't feel that we as a society HAVE to provide this...if you feel that way there are plenty of socialist countries out there you can move to.
to anon 11:36
Yeah, yeah we know; children are our are future teach them well and let them lead the way.... Did it feel good to get that off your chest? It didn't sound to me that anon 9:34 was throwing kindergarten and the students under the bus. Nor would I consider his one-liner a "commentary". Where the heck did you get that he's against the entire public school concept? Talk about reading between the lines. And so sorry anon 9:34; watch your comments. Instead of "if you don't like it move out of Derry" you now have to vacate the entire country.
Derry as a community has a responsibility for all citizens. No-one will argue the importance of education at all levels. I don't think people feel "resentment" towards early education as much as they do the "frustration" of rising costs during an economic downturn. And you haven't seen the worst of it yet.
Families that are losing their homes aren't worried about their kids going to kindergarten. They're worried about a roof over their kids heads, keeping them warm and fed. Kindergarten does not serve as a "safe haven" for displaced families kids.
So go tell the family with 2 year old twins whose husband just lost his job that they're "disgusting" because they can't afford a tax increase.
Obviously your pockets are a bit deeper than you let on because you just don't seem to get it..........
To Anon 11:36
You sound like a school committee member. You criticize people who have an issue with the cost of education. Yes, the community has a responsibility to educate its children but that does not mean we do this without regard to cost as you appear to suggest.
It is naive of you to believe that most decisions are not made around money. When times are tight, we cut back because we cannot afford things. But not the school board!
It promotes a budget that does not appear to take into account that times are tough and people are struggling. Just give me the money and be quiet seems to be your motto.
Now you want schools to become a daycare center so younger children have a safe place to go and have a warm breakfast so their parents can work. Give me a break. When did it become acceptable for parents to give up their responsibilities and make it society's problem? No wonder school costs are out of control. Liberalism at its finest!!
Correct me if I'm wrong, didn't the State give a 1 year extension on implementing kindergarden? The school board never mentions that. They maintain it has to be this year, give us a break!
Interesting that this blog is focusing on schools to some extent. If you think this year school costs are high, wait until next year. The legislature has devised a new formula to calculate school aid at $3,400 per student. While the figures are preliminary, Derry stands to lose $7,452,120 in school aid. That will be a huge hit on the tax rate. People should start emailing the Derry representatives and Senator LeTourneau now because if this does become a reality, Derry is sunk. See the article and chart at: www.wmur.com/asseenon/15441526/detail.html
bruceK (getting old - forgot my password)
Funny how we are arguing over what really comes down to LOCAL taxes overburdening the townsfolk in regards to educating our children. I'm a taxpayer in Derry, I work as an employee in the town of Derry, and I have 2 children who will be going to school in the town of Derry.
Am I going to pay my fair share of taxes this year? Yep. I'm going to pay my taxes which 75-80% of that total goes to fund the education of children in this town, including my own. Will I pay more if kindergarden goes into effect here as proposed by the legislature and is currently the standard in almost ALL OTHER STATES IN THE UNITED STATES?? Yep. I'm probably going to pay more. Can I afford it? It all depends on who you believe in the papers, but that's another story altogether.
I want my children to have at least the same opportunities I had growing up, even more preferably more so that they can reach farther than I may have ever hoped for. I'll pay the price for that and work as hard as I have to to ensure that they have the opportunities to become great. Maybe they will, maybe they won't, I have to at least afford them the chance to try.
If you do not want to be a part of that and you have no vested interest in affording the communities' children to at least have the opportuntity to become great, than that is your right as a citizen of this country. But I implore those who feel this way to pick up and move to an area where their tax dollars do not, in some way, contribute to that philosophy as a citizen of this country.
If people are so wrapped up in "How much is THIS going to cost me to educate the children of our community?", then I implore you to look for other ways to help spread the cost of education amongst a greater part of the community. Let's not scream out "IPAY TOO MUCH TO EDUCATE THE YOUTH IN MY COMMUNITY!", instead, let's come up with a solution. I hear a whole lot of belly-aching about problems but I hear NOTHING in the way of solutions.
Tell your local Reps that you want to right the wrongs of being impoverished by your local governments by paying education taxes that are totally unwarranted, after all, those taxes are 75-80% of your total tax bill for the year!!!! Tell your Reps that you want to spread the pain over the entire state of citizens in NH! We all live here and we should ALL share the burden of educating OUR children!! Push for a 2-3% sales tax here in NH that is completely tied into the education system for funding and spread the pain! If that is not "Legal" under NH law then make your Reps push to MAKE IT THAT WAY!!
If someone has a better solution, I'd love to hear it. I know most people would not agree with my statement or my solution because we live in New Hampshire..Live Free or Die! Certainly not free of local taxes I assure you!
We can all continue to pay thousands of dollars, whther we like it or not to our local governments for education, which amounts to 75-80% of our total tax bill, or we can spread it out and pay much less than that and a few dollars more to buy our next tv set and recieve arguably the same result.
No one is going to avoid it. Period. So why not try and effect a solution that is agreeable to as parties as possible instead of crying "Boo-Hoo" in your Corn Flakes every morning?
Think about it.
Anon 10:31
The problem is that we do pay too much to educate our youth. The quality of the education today pales in comparison to what kids got 20 years ago. If you listen to adds put out by the teachers union then the message is to throw more money into education and the problems will be solved. That is pure bunk. Until we empower principals and teachers to run their schools, education will suffer. I hear too many teachers tell me that there is no parental support, the troublemakers do not go on detention because the parents will not be around to pick them up, etc. Yes, I am generalizing but I see public education as failing today. I do not blame the teachers because we no longer allow them to teach for the most part. So, when I see all my tax dollars supporting a failing institution, I have a problem.
My personal favorite quote about New Hampshire when I hear discussions like this.
There is a solution... the word that cannot be spoken for fear of teachers' unions and their minions in the legislature. Vouchers.
Our standard of living is one of the best in the world not because we are the chosen people, not because of superior natural resources, not because of some genetic superiority but because of a competitive (free enterprise) economy.
Yet we allow our schools to be virtual monopolies and then we are surprised that they act like monopolies (Inferior products and services at premium prices... Econ 101) We also are surprised that the monopoly tries to accommodate everyone and finds that "one size fits all" has always been a lie. Great teachers (and we have some) must be amazed that they teach seniors in high school and get paid very little but teaching them one year later as freshmen in college is well compensated. Colleges "compete" for students. America's colleges are the best in the world. (See a pattern?)
Unfortunately the knee-jerk liberals would prefer universal mediocrity to non-uniform levels of excellence. Sad? No...tragic."A mind really is a terrible thing to waste."
Don't other states offer these types of programs? Why can't we have them in NH?
They are illegal in NH --- I think for good reason.
Private schools are no better than public --- ridiculous thought to some neocons, but true.
Show me where private schools out perform public schools...IF that private schools were subject to the same rules/regulations/policies/laws as the public schools.
Oh, and the obvious --- private schools get to hand pick their customers - if they don't want special needs kids, economically disadvantaged --- no problem, just say no, we don't want you! That's a way to increase out test scores!!!
All vouchers would do is turn our public schools into a dumping ground for those who private schools won't take --- then those wacky neocons would --- with a straight face --- make the case of our failed public schools. That is an absurd argument.
anon 101- Sorry but you get a D in Political Science 101. "Neocons" have nothing to do with vouchers. Milton Friedman (not a neocon) came up with the idea 50 years ago.
Completely contrary to your assertion about vouchers leaving the less affluant behind, the poor have been vouchers strongest supporters. The wealthy can send their kids to private school and do. I guess they have done their own independent tests and determined they prefer the private schools. It's the less affluent wishing for something better for their kids that are trapped in mediocre or poor public schools.
Teachers unions (looking out for teachers not students) have spent millions attacking this idea. The last thing they want is a bidding war where great teachers are financially rewarded on merit and the bad teachers are left behind. The union becomes meaningless if that happened.
Some people (like you anon 1:01?) think they know better than parents what is good for children. They are uncomfortable with a world where people are free to make choices.
I don't have to show you any proof of anything. You have to justify why the state has the authority to force (de facto) children to go to particular schools. Why does freedom scare you?
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