The Derry Housing market is starting to come back! The above chart shows the inventory levels that we presently have today. A 5.8 Months supply is truly amazing from where it was over a year ago. The above chart shows inventory levels from 8/08 to 8/09.
Now, this in no way means that times are not tough but lets look at the facts. The housing market crash of 2006 led the demise of the economy. From there banks started having trouble, credit lines tightened, retail and hospitality services suffered and end results with unemployment being the last of tough times. Now we still need to create jobs in this country, what I would like to point out here is that the end is near for this recession. Housing had 6 months in a row of growth! Retail sales were unexpectedly high in Aug, and the Feds are saying its over in the papers.
This is good news for us! We need to stay positive and just like the new England weather, its bound to change for the better.
23 comments:
BC,
Tell us taxpayers why the hell we should stay positive. Just got my reassessment from this positive thinking spending capitol of NH. (town hall) and my home is now worth 40 thousand less than it was last time they assessed.
So now the positive thinkers are going to RAISE the tax rate to keep their spending habits in tack.My taxes will not go down. Now do you really believe that the tax rate will come down after they reassess next time say in two years. Think positive now BC. The town is setting taxpayers up for another good slam.
Take a look at the picture in the front page of the printed edition of Eagle Trib today.
What does everyone see?
http://www.eagletribune.com/punewsnh/images_sizedimage_261022617/resources_photoview
BC Thanks for the stats. A few questions...
1. Is this graph of the Derry market?
2. What assumptions are made as to demand? In other words, how are these numbers calculated?
3. Are there signs that the sales prices are recovering or will we never again see the home values that we based retirement plans upon?
4. How does Derry's real estate market compare to other communities? Do our higher taxes encourage home buyers (the lemming factor)? If so let's party!
"the Feds are saying its over in the papers"... no kidding? well there's something you can take to the bank. They are from the government and they are here to help us.
Now you take a hit... mmm good stuff.
anon 6:06,
Yes The graph is of the Derry Market.
The numbers are calculated by whats on the market as active listings. Then they look at Pending listings. ( these are the listings with contracts on them )They then look at the absorbtion rates and determine the inventory levels this way.
There are signs that sales prices are recovering. In fact a news release shows increases nationwide when looking at their June numbers and 3 mos prior. I will look to see what the local numbers are saying here in Derry.
And you will have to be more specific on what comparisions you want to see with other surrounding towns. Yes Derry homes are selling!
I don't beleive my property taxes are any different from that of any other surrounding community with consideration to quality of house and land I bought.
Airlift my house and land to Londonderry or Windham and I would have paid about $20K and $35K MORE - making it out of my price range.
Another way of making the point - if I restricted my purchase in Londonderry or Windham to the dollars I paid in Derry - I would have ended up with alot less house. And absolutley YES, I would be paying less taxes on that lesser house.
Funny how all that works.
BC, If you let the word out that Derry homes are selling it will be like crying fire in a crowded theater. Last one left gets to pay all the firemen for life.
anon 5:37,
Did you know that we CUT 4 firemen positions out that we had last year??? Hmmmm.
Stop the fireman bashing. There is no need to be that way.
Besides we CUT your taxes from last year. You should be happy and pray you may never need the fireman services.
Bravo Brian Bravo about time to stood up to the Fireman bashers they suffer enough. How did you cut 4 positions if they have jobs for life that everyone states??????????????????????????????????????????????????????????????????????????
BC,
Hooray for you! You cut four whole positions. How many did you cut from the PD?
Oh that’s right, you added!!!!
How many cuts were made from Parks & Rec, DPW, Transfer Station….I think that would by ZERO!
We cut Fred Kelly, but I saw him driving around yesterday in a town vehicle so I guess he’s back.
You’re making great progress. Keep up the fine work and you’ll price everybody out of Derry.
My new home evaluation has dropped 80K in a year. I’m pretty sure when the new tax rates are announced, my actual tax bill will increase despite the drop in home value.
The PD was under staffed from the previous years loss of Officers to retirement. The positions filled were only those that had been funded if I am correct. The FD lost 4 funded positions that were left unfilled via retirement/resignation again, if I am correct. I fail to understand how by adding a couple of funded positions and taking away the funding for positions in another area how that would "price everybody out of Derry"?
It was my understanding that Mr. Kelly was hired as a "part time" Electrical Inspector. That would account for seeing him in a town vehicle.
It is not as simple as a reduction in staffing leads to paying less in taxes always. The roads still need to be plowed, trash needs to be taken care of, parks need to be maintained, and police and fire need to keep going to handle the daily calls for service. When the need for these services ever decrease, you might see the staffing as well. It is my opinion that all of the departments have done well with what they have to work with.
Hey BC, does Derry Fire work staggered shifts that takes weekends and over nights into account?
Driving home every workday evening I have noticed there are at the most three cars in the station parking lot. But during the day this lot has many more cars parked. This condition is even more noticable on the weekend when there is one maybe two cars parked where employees park.
Brian, are Derry stations manned equally 24/7/365 or is there a skeleton crew on at night and weekends?
If so, this is something for you to look into as a self proclaimed taxpayer advocate. If this staffing pattern is being practiced in Derry as I suspect it is it supports the over staffed argument. You and the council need to follow up on this.
http://www.eagletribune.com/punewsnh/local_story_268011023.html?keyword=secondarystory
This article in Eagle Trib seems to show Salem has same problem as Derry with Private Roads. The article mentions that the State Supreme Court forced Salem to be responsible for plowing and upkeep of the roads. If this is true it looks like Derry's hand may be forced to take over the Private Roads - or at least continue to maintain them. Maybe somebody in town should get a hold of the State Supreme Court Ruling from Salem and avoid us spending more money in the courts.
Brian,
Why do the speakers in the Tuesday Night folly section of the council meeting always reference the increase in their tax bill without linking it to the escalation in house value?
Saying that in 1980 your bill was X and in that in 2009 it is 3X, without recognizing the increase in value of the property is just ignorant.
Can you do a chart that shows the increase in value of a $100,000 home in 1980 to what it is today? Then maybe Al can get the answer to what he is getting for his tax bill and will finally shut his yap.
People seem to forget that the largest part of our tax bill is the school system which the Town Council has no control over. Ever attend one of those meetings, the word NO isn't in their vocabulary. If you want taxes to go down, start where the bulk of our money goes and look for cuts there!
According to this article in Eagle Trib today about private roads in Salem - there is a NH Supreme Court Ruling that towns that have maintained private roads for years have accepted them as public by default. If this is true the debate in Derry may be a done deal too. Salem is now accepting their private roads - 8 per week.
http://www.eagletribune.com/punewsnh/local_story_272034441.html
You bought a house on a dirt, unaccepted road. You did so knowingly.
By making this decision you accepted that the road not to town code, it had an effect on your mortgage and your homeowners insurance premiums and dealt with all the issues of living on an unaccepted road.
Now you want the town to accept the road at taxpayers expense?
On what do you base this demand?
You made your choice.
You have experienced the rise in home appreciation on the ponds and puddles you live near. (your tax rate is based on that, not the quality of the road)
Because Derry will no longer plow your goat path, the whole town is supposed to pay for the upgrading and acceptance of the road that you made a decision to live on?
Take some responsibility for your decision.
Brian is it not cheaper to simply keep plowing?
I do love Janet.
"I was for the Route 28 TIF before I was against it Fairbanks" called the Derry Town Planner to do her after the vote homework, just to make sure that no other retailer was interested after she chased away Wal-Mart (here is where all you Fairbanks apologists complain that the Worlds Biggest Retailer could not possibly be scared off by the town troll).
Nope Janet. Nobody else interested. So all of that land that was a good enough idea to vote for in the first place, is not worth the vote now.
The best part is that she thinks that her greater explanation in the Derry News makes sense! As long as this woman makes decisions for Derry, we are doomed.
Spot on editorial in the Nutfield News yesterday about anonymous mud slinging on blogs and how folks will type things that they would never say to someone's face. I especially liked the part about total disregard for spelling and grammar. Maybe a few of the folks posting here should read it.
Cna yuo raed tihs? Olny 55% of plepoe can.
I cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht I was rdanieg. The phaonmneal pweor of the hmuan mnid, aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it dseno't mtaetr in waht oerdr the ltteres in a wrod are, the olny iproamtnt tihng is taht the frsit and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it whotuit a pboerlm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Azanmig huh? yaeh and I awlyas tghuhot slpeling was ipmorantt!
fi yuo cna raed tihs, palce it in yuor siantugre.
okay, was anyone else surprised when the elected Charter Commission decided not to change the charter or even look at becoming a city and of course let's make sure the schools are kept separate so they don't have to fall under the tax cap ... and they wonder why no one has bothered attending their meetings. It was a done deal.
BC,
Off topic but I have to vent. I recently had poison ivy on my face near my eye. My Boston doctor said to go to the closest emergency room for antibiotics. I went to Parkland Madical Center. It was my first visit there in 20 years of living in Derry.
Very nice facilities, great staff, easy parking all made for pleasant visit. After a five minute consultaion with a doctor, I was prescribed anitbiotics. I was out the door and home in minutes. I was highly satisfied with the experience.
Two weeks later I received a bill for $2,300! My medical insurer paid $2,000 and Parkland wanted the remaining $300. I cannot believe a 5 minute emergency room visit, with no tests or specialists involved, is worth $2,300. I am grateful to have insurance, but what about the unfortunate uninsured people?
We wonder why our rates are so high for coverage. Its gouging like this that affects all of us.
anon 10:42,
I feel your pain. Two years ago, I went to Elliot for 1 day stay after surgery... $11,500 just for the Hospital stay. Not the docs or specialists..just the hosp stay!
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