Lakes Region of NH Real Estate Market Report -12/4/08
The Modular Option The inventory level for single family residential homes for sale in the Lakes Region continues to drop each month. We are down from 1218 last month to 1109 as of December 1. That now represents a 19 month inventory of homes on the market. About 27% of the available homes are below $200,000 compared to about 16% back in December of 2005 so there has been a definite swing toward more affordable homes on the market. Some great news is that interest rates have dropped to well below 6% spurring a number of homeowners to refinance their existing loans. These low rates along with a number of extraordinary deals hopefully will bring more buyers into the market over the next few months. Many people that are thinking about building a new home often look into buying a modular home as an option to a conventionally constructed “stick built” home. Perhaps the modular home’s biggest advantage over a stick built home is the delivery time of about 8 weeks compared to 3-5 months for conventional construction. The other advantages to buying a modular home beyond the shorter time frame aren’t always readily apparent, but there are many additional factors that make buying a modular home very attractive. Modular homes are built in a dry, climate controlled environment, which obviates two weather related problems that always plague builders here in the Lakes Region; construction delays due to weather and weather related material defects caused by moisture. All materials going into the construction of a modular home remain dry from beginning to end. Because they are built in an assembly line format, quality control can be monitored more closely and personnel are highly trained to perform specific tasks resulting in a more consistent and higher quality product. Other problems obviated by going modular are delays caused by material back orders or sub-contractor “no shows” which is something anyone who has had a conventional home built or even a small renovation can attest to. There are many different modular home companies out there to choose from with varying quality and pricing. One of the best Canadian modular home companies, Pro-Fab, has just reopened it sales center on Rt 3 in Tilton NH across from the Tilton Nurseries. They have four completed model homes to view and a complete design center on site to customize your new home. I think that is a pretty positive statement as to where they think the Lakes Region real estate market is headed and their desire to be a part of the future growth in the area. They can provide you with anything from an extremely well built basic abode to a highly customized, knock your socks off, waterfront retreat. Pro-Fab has always focused on well built, energy efficient, extremely high quality homes that they and their customers can be proud of. They have over 130 designs that can be customized to meet anyone’s tastes and pocketbook. While they are not the least expensive modular home manufacturer (they don’t want to be) they are one on the best. So if you are looking into a modular home I would encourage you to take a look.
Report covers the towns of Aton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, Moultonborough, New Hampton, Sanbornton, and Tilton