Have you filed for your abatement yet?

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Article submission:

Did you file for an abatement?

With house prices dropping, your home in Atkinson is probably overvalued now and you are entitled to a lower assessment. Take a look at your latest tax bill. Do you think you can get the assessed amount if you were to sell? It would be prudent for you to examine your tax card, which contains information about your home that is not reflected in the tax bill. Note any discrepancies in the description and get an assessment from a realtor. Why should you pay more tax than you should? Based on the article, the drop in the median price by $11,500 equates to $162.00 tax decrease, assuming you believe the average house in Atkinson is worth $434,115.

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Home sales plummet in N.H.; prices down 8 percent

By Meghan Carey
Staff writer


The number of homes sold in Rockingham County during the first half of 2008 was down almost 17 percent over the first half of last year.

Homes are spending more time on the market, and when they finally sell they're selling for less than they would have last year, according to the New Hampshire Association of Realtors. But the housing market in Rockingham County isn't suffering nearly as much as the rest of the state.

Statewide, home sales were down 22 percent for the first six months of this year in comparison to the same period a year ago. Merrimack County experienced a 29 percent drop in sales while Grafton County saw 31 percent fewer sales.

The median sales price in New Hampshire was $241,000 for the more than 4,500 single-family homes sold — 8 percent lower than a year ago, according to association spokesman Dave Cummings.

But here in the southern part of the state, the median sales price — $295,000 — dropped less than 7 percent, Cummings said. Both in Rockingham County and statewide, homes are staying on the market for about 140 days.

While the news may be frustrating for those trying to sell, Cummings said the fluctuation in home prices is nothing new. The market runs in a 10- to 12-year cycle, and right now it's on the downside.

"In the mid- to late '90s, there was a real buildup of prices. They went up by double digits for five straight years," he said. "Now, it's starting to correct itself. It is literally a drop, but any sort of analysis would show that it's a correction, not a collapse."

With prices decreasing, sales are improving some for Tinkham Realty in Londonderry.

"In the last couple of months, I've seen a few more things go into agreement," said Tinkham real estate agent Deborah Shacht. "But there's still a lot of homes on the market compared to a couple of years ago."

Homes in the Derry and Londonderry area are staying on the market for about six months, Shacht said. Two years ago, houses averaged just 30 days on the market in this area.

The asking prices for homes haven't dropped much on average, she said. Starter homes range from $250,000 to $325,000, while larger homes in the area still average in the high $300,000s to $400,000, Shacht said.

Those prices probably won't drop much lower, according to Jim Lyons, president of the Realtors Association. He isn't sure when the market will pick up but said it probably will not change much until then.

"New Hampshire is performing best in New England," he said. "I think we're going to fare well."

To reflect that, many homeowners are still trying to sell in this buyers market.

Coldwell Banker Residential Brokerage in Plaistow is seeing just a slight drop in listings in Atkinson and Hampstead, the same number of listings in Plaistow, and more listings in Newton, according to Senior Vice President Erminio Grasso.

With a "good amount" of foreclosed homes on the market in those towns, average prices have dropped a bit, he said. But the higher the number of listings, the better chance buyers have to get a good deal in Rockingham County.

"Supply and demand," Grasso said. "More new listings cause prices to go down."

That's happened in Atkinson, where the median sales price has dropped almost $11,500 during the first six months this year compared to the same period last year, Grasso said. The median home price in Atkinson is $434,115, he said.

Newton has seen a more significant drop, with the median sales price about $38,000 less through June compared to last year. The median price in Newton is $218,400, Grasso said.

Plaistow's median sales price dropped about $28,000 to an average of $218,911, he said.

But in Hampstead, the housing market is going against the trend.

The median sales price has appreciated by about $2,000 to $283,089, Grasso said. Coldwell Banker sold 50 houses in Hampstead between January and June compared to 44 homes sold during the same period last year.