Want to buy a vacation home? Join the crowd. From North Conway NH to Miami FL, the second-home market is on a tear. Sales of resort condos and single-family houses around the country have been strong for the past five years, and we see no signs of slowing. Second homes in the U.S. sold for a record high median price of $162,000 last year, up 27% from 1999, according to the National Association of Realtors.

Low mortgage rates are the power behind the surge, but it's not the only fuel on the fire. A slow stock market is prompting some to grab second and even third homes. With the largest poulation segment, ever, reaching middle age, when people traditionally buy a second residence, the vacation home market continues to see steady gains. In addition, a fear of flying is prompting some who used to splurge on distant vacations to use the money for a getaway they can reach by car.

In the last 7 yrs., the hottest second-home markets are in resort areas that are a tank full of gas from big cities. They include areas like the Poconos and Catskills(N.Y.), as well as lesser-known areas like the Rangeley Lakes Region of Maine (Boston), The Outer Banks of NC (Atlanta), and New Hampshire's world famous White Mountains (Boston). Resort-home prices in these areas are up 10% to 15% in the past year, local brokers say. On the Outer Banks barrier islands, prices for beach houses in upscale towns such as Duck have jumped around 25% since last summer, thanks to an influx of buyers from the Atlanta area.

Is it too late to find a great deal? Not yet. Sure, the market is unpredictable, but with 50 million baby boomers set to retire in the next ten years, housing in destination locations will only get more expensive. Many popular resort areas have a limited amount of land available for new development, which should keep vacation home prices firm.

A second home may be especially affordable for empty nesters who have built up equity in their homes. Realtors in resort areas say many recent buyers are couples who trade down to a smaller dwelling, then use the profit to finance a vacation home where they may eventually retire. That strategy has been popular since the late 90s, when tax laws changed so that married couples no longer have to pay capital-gains tax on the first $500,000 of profit when selling their primary home.

This may be the time to act! If interest rates rise later this year, as some economists expect, second-home demand could slow. Also, vacation homes are luxury items. So pick a place you'll enjoy returning to often. Investment considerations should be secondary.

Find out which type of properties are easiest to rent or resell. On Cape Cod (Mass.), condos aren't as popular as traditional New England clapboard houses. In New Hampshire's White Mountains, Dick Badger, a real estate broker in North Conway, recommends prime properties on lakes and golf courses because they are easiest to sell.

Local realtors can help you research ways to estimate maintenance and other costs. Homeowner's insurance rates, for instance, could be stiffer if the property is more than six miles from a firehouse. You might also need to arrange for driveway plowing or to have repairs made when you're not there.

If you need rental income, take a hard look at what you can earn. In many of the hottest markets, rental rate hikes haven't kept pace with home prices. In the Outer Banks, buyers who rented out their homes during the summer used to count on annually grossing an amount equal to 10% of the purchase price, local realtors say. But with rents continuing to rise 3% to 5% annually while home prices have climbed around 15% in the past year, rental income is proportionally less. Also, count on paying 20% to 50% of rental income to a management agent who arranges rentals and maintenance.

Still, renting out a vacation home can be lucrative. Five years ago, Janice and Barry Barnes of Beverly, Mass., purchased a $158,000, two-bedroom condo in Bartlett, N.H., for family ski weekends. Three years later, they wanted more space, so they bought a three-bedroom condo in Bartlett for $189,000. Instead of selling the smaller unit, they opted to rent it out year-round, earning $13,000 last year after management fees. "It didn't pay to sell," Janice says. Another plus: The two-bedroom condo has increased in value since they bought it.

Buying a second home can be tricky. But if you're smart about it, and work with a reputable realtor like Bill Barbin at Badger Realty in North Conway NH, you'll wind up with a getaway that's also a dream investment.

Target areas in New Hampshire and Maine are: Bartlett NH, Jackson NH, North Conway NH, Chatham NH, Albany NH, Freedom NH, Tamworth NH, Ossipee NH and areas in Maine around Fryeburg, Stow, Lovell, Brownfield, Bridgton and Naples. Prime destinations are: Sebago Lake, Ossipee Lake, Kezar Lake, Crawford Notch, Pinkham Notch, Saco River, Swift River, Bearcamp River, Mirror Lake, Madison NH, Silver Lake, Eidelweiss, Chocorua, Intervale, Cranmore Mountain, Attitash, King Pine, Black Mountain, Wildcat, Kancamagus Highway and Conway Lake, to name a few.

Bill Barbin can be reached at www.billbarbin.com or at www.badgerrealty.com .

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Chatham NH AMC Cold River Camps are an assortment of waterfront camps along the Cold River. Call Bill Barbin, your Chatham NH Real Estate agent, for more info.

Bartlett NH Bartlett Historical Society Museum: Every Saturday from 12pm until 2:00 pm through sept. 17, 2007. Call Bill Barbin, your Bartlett NH Real Estate agent, for more details.

Conway NH Guided tours of the Eastman-Lord House Museum: Every Saturday June 2, 2007 through Oct. 10, 2007 from 1:00pm until 4:00pm. Call Bill Barbin, your Conway NH Real Estate agent for other times and dates.

Freedom NH Freedom Activities: Waterfront and home safety courses from June 1, 2007 through Sept. 1 2007. Call Bill Barbin, your Freedom NH Real Estate agent, for more info.

Fryeburg ME Fryeburg Fairgrounds: always a great place to walk the dogs (except fair week) and also host to numerous events through the summer of 2007. Call Bill Barbin, your Fryeburg ME Real Estate agent, for a schedule of events.

Ossipee NH Ossipee Lake waterfront tour by kayak. Call Bill Barbin, your Ossipee Lake Realtor, for tour dates and times through 9/1/07.

North Conway NH The Valley Train- The Conway Scenic Railroad: All trips depart from the historic North Conway Depot. The Valley Train includes the 11-mile, 55-minute roundtrip Conway (C) excursion and is ideal for visitors wanting to experience the enjoyment of a "shorter" train ride. The 21 mile, 1 hour roundtrip Bartlett ( excursion offers you a longer and more relaxing train ride. on Sat. throughout June July and August 2007 and Again on Sundays. 11:30am to Bartlett NH, 1:30pm for Conway NH

Jackson NH - Public Golf atThe Wentworth Golf Course: 06/03/07 through 09/03/07. Call Bill Barbin, your Jackson NH Real Estate agent for tee times.

North Conway NH -Weekend entertainment at The Red Parka Pub (Glen NH - Bartlett NH) on Saturday Evenings throughout the summer of 2007.

Brownfield ME - Stone Mountain Arts Center presents a variety of musical talent, just a 15 min drive from Ossipee NH or North Conway. The summer 2007 schedule looks great. Give me a call: Bill Barbin, your Brownfield ME Real Estate agent

Albany NH - Tin Mountain Conservation Center hosts interactive walks from 10:00 am until Noon every Saturday throughout the summer. Also demonstrations and information on living green and use of solar power, recycling and composting and more. June 1, 2007 - Sept. 6, 2007

Tamworth NH The Barnstormer's Theatre is celebrating it's 75th anniversary this year. Call Bill Barbin, your Tamworth NH Real Estate agent, for a playlist.

Madison NH Madison Boulder Natural Area is the home of the largest glacial erratic (boulder) in New England. Call Bill Barbin, your Madison NH Real Estate agent, for more info. on the self guided trails.

Updates for the coming months of June, July and August 2007 are being researched and will be posted ASAP.

This would be a great time to point out that anyone looking for direct access to all of the NH MLS can use my primary website: White Mountain Homes

My coverage areas include: Conway NH, North Conway NH, Tamworth NH, Bartlett NH, Hart's location NH, Hale's Location NH, Jackson NH, Gorham NH, Shelburne NH, Chatham NH, Eaton NH, Madison NH, Freedom NH, Ossipee NH, Sandwich NH, Moultonborough NH, Effingham NH, Parsonsfield ME, Bridgton ME, Brownfield ME, Fryeburg ME, Stow ME, Lovell ME, Lincoln NH, Woodstock NH, Bretton Woods NH

There's a common saying in the real estate industry regarding the vast number of agents in the business: 'If you don't have any friends who are agents, then you probably don't have any friends at all.' In some ways that is even more true in the North Conway market area. This is a destination for retirement and real estate is often viewed as a comfortable business to "dabble in" once retired. You know: Once you don't really have to work.
The question is, with so many agents out there, how can you make an intelligent decision? Do you choose a friend, neighbor or someone you run into out having fun? Should you work with an agent at a large firm, a small firm, a franchise or an independent?
While there's an exception to every rule, and every marketplace has its own nuances, here are some solid rules to apply when you want the best representation to protect your interests.

Demand Experience
The real estate profession has high turnover. This creates a workforce that is made up of many newcomers and part-timers. While there are new agents and part-timers with good intentions, why would you trust one of the largest investments you'll ever buy or sell to someone without experience?
Always look for a full time agent with at least five years of experience. Anyone still in the business after five years of relying solely on their real estate career has probably learned at least the fundamentals of real estate.

Look for Commitment
Another problem we have in the industry is a large number of part time and recreational salespeople. These folks have either retired from some other career, work in real estate seasonally or are earning a second income for the family and honestly don't need to work full time.
No matter how long they have been in real estate, their lack of full-time commitment makes it impossible for them to keep up with the vast changes in law, marketing and business practices that are occurring in the profession today.
If an agent isn't working at least forty hours a week, fifty weeks a year, working with buyers and sellers, look for someone else.

Consider Education
In the majority of states, the requirements for real estate licensing are substantially less than those for cutting hair. In NH, for example, all that is required is a forty-hour class and a multiple choice test. You cannot rely on licensing to indicate competence. And, unfortunately, many agent's real estate education ends with their pre-license education.
While there are numerous advanced real estate education courses available, only the best agents seem to take meaningful continuing education courses
A REALTOR® who pursues education that can benefit their clients/consumers shows a commitment to their profession. Look for agents that embrace current technology with designations like the "ePRO" (internet specialist) and "ABR" (Acreditted Buyer's Representative.) These are courses that have an added value to you. 

Conduct Interviews
Before you hire an agent to help you buy or sell a home, you should interview the agents. Get recommendations from friends, family and neighbors. Then look on the web and the local newspaper to see what kind of marketing the various companies are doing in your area.
Then make brief fact-finding calls to determine which of the agents on your list are full time and how much property they actually sell. You will probably need to call ten to fifteen agents in order to find three that are worth interviewing.
The interview itself need not be a formal one. It is simply an opportunity for you to meet the candidate and explain your needs; and to determine whether you would be comfortable working with them. Ask whatever questions you like, or simply explain your goals and listen carefully to what they propose to do for you in meeting your needs.

The decision
If you follow the suggestions above, you will find that there are excellent agents working for firms both large and small; both franchised and independent. Thus, the real decision must be made based on the competency of the individual agent you will be working with on a day-to-day basis.

For a number of years I had worked a mixed practice back in suburban Boston. By mixed I mean that I did both residential and commercial real estate sales/leasing. About 40% of my business was commercial based.
Over the course of those years I had just a few occassions to work with people that were looking to sell a residential property in order to buy a commercial property. Each time this happened it presented a new set of challenges in educating the client about the numerous differences between the 2 markets.
Of course, the first problem is that they are both lumped under the heading of "real estate". Which is kind of like defining Football and Polo as "sports". They both have different thrills and virtues, rules and etiquitte but could be no more different in thier audience and practice.
Sure, both markets are "real estate". So if one hears that the real estate market is slow, the assumptiuon is that this means all real estate. Now replace the word "market" with "audience" and the first thing that may come to mind is "which audience?" When you think of a market as an audience of potential consumers it just makes sense to think that commercial and residential audiences are 2 completely different animals. Seriously, it is pretty clear that a 3 bedroom cape has a much different prospective buyer than does a peice of land next to Staples or Home Depot. Even if it just comes down to the land alone it becomes strikingly clear that there are really no similarities. A buildable 2 acre lot on a cul de sac with mountain views may sell for $100,000, while a buildable 2 acre lot next to Staples, in the same town, even within 1 mile of eachother, would probably sell for $1,000,000.
The factor to keep in mind is "use". A home lot has 1 or 2 or so purposes: you can buy to build, hold as an investment or simply use it for storage/buffer/recreation. On the other hand, the commercial lot has only 1 real valuable use: To build a business that makes a profit. Of the many things that drive price, the potential for profit is one of the greatest. A lot next to Staples and Home Depot will be much more attractive to another retailer than a peice of raw land in Albany on Rt. 16.
The other major factor that drives any market is scarcity: How much land is there that can be used this way? In most towns, zoning is the method used to limit commercial use to specific areas of town, creating scarcity in itself. The other way that scarcity comes into play may be considered natural zoning. This is an easy concept to grasp here in the valley: Rt. 16 and Rt. 302 are the natural traffic paths for consumers. For most retailers any other commercial space in town would not work. If people can't see you they won't come to you. So the exposure of the 2 major routes through town was a type of zoning that was in place long before "zoning" got voted into place.
One of the elements that seems to confuse people is the mixed use type of space: A property that could be residential or commercial. The term that is used in the business to define the way that price is determined for this type of property is called "highest and best use." Simply defined this refers to what would be the most likely and most valuable use of a property. Put yourself in the shoes of a property owner that is thinking of selling: You can sell your property on Rt. 16 for $300,000 max as a residence or you could sell it for $500,000 because of it's commercial aspect. Even if the buyer wants that property for a residence, there is no way the seller wants to lose the $200,000 difference. Also keep in mind that an owner of commercial real estate is typically not hinging the course of their life on the sale of the property. Right? They already live somewhere and don't need to sell for anything other than business purposes. So ask yourself this: Would it be worth $200,000 to wait 2 years to sell the property to the right buyer?
Of course, this is just an overview of the differences but it important stuff to consider if you feel like you must be a real estate expert because you have lived in real estate your whole life. The house you live in is involved in an entirely different universe than the commercial property you want to buy.

A recent article in Realtor Magazine had some good info. about mold. Apparently climatic and geographic location aren't necessarily indicators of where you'll find fungus among us. You would think that hot, humid states would have the biggest problem. Interstingly enough that is not the best assumption. It can be anywhere.
 American Risk Management Resources (ARMR) has some great stats on where the problems lie. The company compared mold losses on insurance claims with premiums paid on property and liability coverage in each of the 50 states. Check it out. 
ARMR is an insurance brokerage and consulting firm specializing in environmental insurance, including mold coverage for commercial property. According to ARMR, Wisconsin had the lowest relative mold loss rate, followed by West Virginia, Alabama, Massachusetts, Minnesota, Maryland, Illinois, Colorado, Iowa and Indiana. The highest rates were found in Texas, Florida, Oklahoma, South Carolina, Nevada, Arizona, California, South Dakota, Tennessee, and Kansas. The list, at both ends, shows areas where more mold might be expected mixed with states where mold might least be expected.
Building quality could explain the difference. "Mention mold right now, and the Gulf Coast comes to mind first, but the contamination on real estate hit by hurricanes was flood related as opposed to mold growth caused by inferior building materials or poor construction," said Carl Smith, CEO/Executive Director of Greenguard Environmental Institute, an Atlanta, GA-based non-profit organization working with lenders and developers on mold risk mitigation techniques. "It's counter intuitive to think of shopping centers in Phoenix or casinos in Las Vegas as being at risk for mold, but it makes sense when you examine the causes of mold and problems often caused by modern building practices and materials," Smith said.
Smith said today's buildings, built tight to meet energy efficiency requirements, can create a "greenhouse effect" with moisture nurtured by walls and windows tightly sealed off from consistently hot weather outside. If the ventilation system's design and deployment is inadequate, buildings can become an appetizing buffet for mold, experts say. Here in NH we are all trying to seal up our homes for the winter but very few of us have any type of ventilation system in place for exchangeing air in the winter. Think of a glass of ice water sitting on your porch in 95-degree heat. Condensation quickly forms on the outside of the glass, but unlike your drink, condensation in a home or business has nowhere to run off so it builds up in the cavities of the structure, creating an ideal climate for mold contamination.
The message I got? Just because it feels high and dry outside, doesn't mean it isn't a fungal mess behind the walls.
An interesting excerpt from the article: When San Diego, CA-based Quality Built examined hands-on, independent inspections of some 32,000 homes subject to once-overs by inspectors trained to identify high-risk construction defects in 2005, the most common type of construction defect discovered in 41 percent of single-family homes and 23 percent multifamily properties were problems in the building envelope.
San Juan Capistrano, CA-based mold mitigation company American Mold Guard was founded after CEO Tom Blakeley fought a mold infestation in his own home.
"I was ready to sell my house, but couldn't because mold was growing behind the walls. I realized then that if I had taken precautions and followed a simple checklist when I purchased the newly built home, I would not have lost the sale. To make matters worse, my homeowners insurance did not cover the clean-up -- a typical scenario for many homeowners today," Blakeley said.

Here's what Realtor Magazine offers to help you make sure your new -- or old -- home is mold resistant -- wherever it may be. The advice also speaks to the growing need for new home buyers to have their new home inspected.

• If your home is a "foundation-slab-on-grade" home, the slab should be tested for moisture transference or examined to determine if it is sitting on or near water.

• The slab should be sealed with a moisture barrier, a sealer painted over the top of the slab before the floor is installed.

• If the house has a drop floor, the ground beneath the floor should have been covered with plastic or some barrier to help prevent ground moisture from evaporating into the house.

• Landscaping should slope away from the home by at least 12 degrees or more.

• Rain gutters should be tested for full functionality.

• The interior of the house should be tested to maintain "positive air pressure" -- to make sure there are no leaks in the building "envelope."

• The air conditioning ducts should be thermo-wrapped to prevent water condensation.

• Windows and doors should seal properly. Quality Built said the single highest individual risk identified in single-family homes included improper framing around windows and doors.

• Roof flashing should be inspected for correct installation.

• Overflow drains in wash basins and bathtubs should be tested for proper functionality.

• Exhaust fans should have been installed in wet areas, including bathrooms, wash rooms, laundry rooms, kitchens, indoor spas, etc.

• The HVAC (heating, ventilation and air conditioning) system should come with a "dehumistat" feature that automatically maintains a consistent relative humidity level in the home.

• Interior walls should have been painted with at least two coats of a latex paint to help prevent interior moisture from defusing through to the interior walls.

• The home's wood frame should have been cleaned of microbial growth prior to drywall installation.

• Cleaned wood should have been treated with a long-term antimicrobial as a safety net to prevent mold growth during an unexpected water intrusion event, which, given climatic changes, is less and less unexpected.

• Your homeowners insurance should offer mold remediation and bodily injury insurance, should the need arise

Rarely will you find so much excerpted from an article but I felt that this was a good one. Don't get caught with the "hot potato."