Home Buying in 03087>Question Details

Patientlywai…, Home Buyer in 03087

Hello, I'm interested in a number of new subdivisions in Windham, NH, in particular the subdivision on Ryan Farm Rd. and in the surrounding

Asked by Patientlywaiting13, 03087 Tue Nov 10, 2009

area. I'm not ready to buy quite yet but was wondering what experts were thinking in regard to the future of these subdivisions. It seems that the number of available lots are in the double digits and are barely moving if at all. What's your take on these new Windham divisions and where they will be in the next 3-5 yrs?

-"Patiently Waiting"

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Ken Lambert’s answer
Hello Patiently-- I would say that if you can wait 3-5 years, these are a good investment. One of the largest real estate developers in NH said to a large group I was with that the whole corridor (93) from Salem up to Manchester will have major growth over the next 5-10 years. No question about it. Windham is situated right in the sweet spot there.

Don't consider what the sales rate are today. They are poor everywhere. Maybe things will start picking up next summer.
If you need any help, or any preapproval or anything, please let me know. Thanks, and good luck,

Ken L.
2 votes Thank Flag Link Mon Nov 16, 2009
The biggest thing to look for in Windham is location of the home. There certainly are several jaw dropping sub-divisions/neighborhoods in Windham, but there very, very few that offer easy highway access without bordering I93. To me there are only 2 clear choices. The Hawthorne/Blossom Rd. Area, and Bramley Hill.
Like I said there are newer and better places, but these 2 are about 3 miles off the exit and do not border the highway. I93 goes through the town like 2 or 3 S's strung together. and depending on the house you will hear the cars and trucks.
0 votes Thank Flag Link Wed Jun 30, 2010
Dear Patiently Waiting,

As a homeowner of a high end home on Ryan Farm Rd, I cannot understand for the life of me why you would wait to purchase or build given you have the financial resources at this time. Prices have never been cheaper in the higher end market and you get so much more for your money today than 4 years ago when I built my house. I realize that people are understadably nervous about the stability of our present economy, but many indicators point to a recovery. Why would you wait til prices are headed back up. People will soon begin to have confidence in the economic future of our country and when they do they will seek to make the dreams of homeownweship and upward movement part of their plans again. The smart people move when the crowd is too afraid to. I have faith in my decision to build in this subdivision. The views are magnificent and the homes are beautiful and luxurious. I think it was and is a worthwhile long term investment.
0 votes Thank Flag Link Mon May 10, 2010
I'll put a disclaimer on this comment as I'm no expert. I too am in your situation although I can't say my name would be patiently waiting as my wife is about ready to push me off the proverbial cliff at the next opportunity because she thinks I'm dragging my feet!!

The unknown is the interest rates. They fueled the boom, and being that they are still low they have lessened the fall. The concern is what happens IF the economy were to take off. Interest rates would have to change course and head up. A steep increase in these rates and the high end market will get crushed. Seeing as we as a nation can't move in any direction quickly, I think you see a slow increase in interest rates which caps the real estate market ability to increase in value.

The other wild card is Windham's proximity to Boston. Very much so a commuter community. Lot of money out of Boston, you can get more in Windham for the money than you can in Northern Mass. Put in the superhighway (hopefully without tolls) all of a sudden the entire 93 corridor becomes more accessible adding to the location location location saying!

I see it as less risk in Windham versus a Bedford, Exeter, Stratham, Hollis area (mention these based on school systems and how they're perceived as being very much so equal to each other) as the demand based on location will always be there. If I find the crystal ball with the answers I'll let you know!
0 votes Thank Flag Link Wed Jan 20, 2010
I find that the higher end subdivisions are still building and selling at a steady pace, which is less than the brisk pace of only a couple of years ago but still moving. The builders have adjusted the size, amenities and prices to match what people are paying for. Alot of builders that are not burdened by large debt are sitting on their lots than reduce the prices to a fire sale. This market wil increase again once the economy regains it upwards motion. The one trend i see now is that if you buy now, you are more apt to get extras or upgrades at a discount of not thrown in for free on spec or existing new construction properties. In the end buying now may get you more for your dollar than it will when prices start heading back up. Good luck with your search and please let me know if you need any assistance or have any more questions.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sat Nov 14, 2009
Ryan Farm is a picturesque new subdivision with amazing views. Construction is steadily moving along which is a very good sign. The price point for that area seems to be right in line for what today’s buyer is willing to pay for new construction. Yes, some of the high end communities are off to a slow start due to a more economical buyer and the concern with rising fuel cost and taxes.

Please let me know if I can be of any assistance in your home search, I am more than happy to help.
Web Reference: http://www.wendyleccese.com
0 votes Thank Flag Link Wed Nov 11, 2009
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