Winnipesaukee Forum - Blogs http://www.winnipesaukee.com/forums/blog.php Dedicated to Lake Winnipesaukee and the Lakes Region of New Hampshire en Sat, 04 Feb 2012 05:48:51 GMT vBulletin 60 http://www.winnipesaukee.com/forums/images/misc/rss.jpg Winnipesaukee Forum - Blogs http://www.winnipesaukee.com/forums/blog.php Super Bowl Man Cave http://www.winnipesaukee.com/forums/blog.php?b=187 Fri, 03 Feb 2012 19:18:15 GMT **Image: http://lakesregionhome.usmblogs.com/files/2012/02/superbowl.jpg (http://lakesregionhome.usmblogs.com/2012/02/02/is-your-home-man-caveable/superbowl/)** *As of February 1, 2012 there were 975 single family residential homes on the market in the Lakes Region...

As of February 1, 2012 there were 975 single family residential homes on the market in the Lakes Region communities covered in this report. The average asking price came in at $526,831 with a median price of $249,900. On February 1 of 2011 there were 940 homes available at an average of $545,417 and a median of $279,000. The current level of homes represents a 15 month supply which is the same as last February.

Home is all about the holidays and having friends and family over for parties and celebrations. We have Thanksgiving, Christmas, New Years, and the 4th of July. We also have Super Bowl Sunday which, to many, is probably the biggest non-holiday house party of the year. I think Super Bowl Sunday should be changed to Super Bowl Monday, call it a holiday like it should be, and give people the day off. Production is way off on Monday anyway as hung over employees just pretend to be working. Of course, the game time would have to be changed to noon on Monday or people won’t work on Tuesday and we are right back where we started.



People have always gathered to celebrate big sporting events. I think it goes back to prehistoric times when the cavemen had a successful hunt. They all went into their caves to have a feast, drink fermented fruit juice, and draw pictures of the hunt on the walls. These were the first known flatscreens. Humanity progressed and in the Roman times spectators watched teams of gladiators dismember each other from skyboxes in the Coliseum in Rome. I’m sure there were just as many taverns around the stadiums back then as there are today. These establishments were for those who couldn’t afford the 87 Denarius Roman silver coins that it would cost to buy the equivalent of a $2,500 Super Bowl ticket. Many modern sport fans that don’t make it in person to the big game gather in sports bars to watch the Super Bowl. Fans like to be with other fans and to be surrounded by the trappings of sports; the memorabilia, pictures of stars, pennants, banners, and big screen TV’s. It also helps that the pubs have food and drink which are the key ingredients for any successful Super Bowl party.



Other fans like to gather at their homes and have Super Bowl Parties. Drawing from their prehistoric past and the sports bar, many avid sports fans demand that their home have a properly outfitted Man Cave for these special events. But the Man Cave has become so much more than just a place to gather and pay tribute to sports. It is a retreat to which today’s hunter and breadwinner goes to unwind and gather strength to carry on the battle the next day. While the lady of the home requires a nice kitchen, a walk in closet, and a Jacuzzi tub, the warrior/sports fan of the home could care less. The Man Cave is paramount in his mind. This is an important observation if you are selling a home in today’s market. Do you have an existing Man Cave or is your home Man Caveable? It could make a difference in selling or not selling your home.



I find it my duty to expose the best of the Man Caves on the market to the manly men out there that might be looking to upgrade to something more befitting their station in life. My first selection is at 141 Riverwood Drive in New Hampton. This cave is located in a 6,289 square foot, thirteen room, four bedroom, five bath super high quality, custom built home that would impress even Tom Brady. It has everything a Caveman’s wife would want; gourmet kitchen, granite counters, an open floor plan, a great room with a huge field stone fireplace, a first floor master suite, formal dining room, beautiful woodwork, and exquisite craftsmanship throughout. Who cares! The Man Cave here is over the three car garage and provides ample space for the largest and most intense sport watching get-togethers you can imagine. It features large comfortable leather chairs and couches, a massive widescreen TV, a fully stocked bar/kitchen area with granite counter tops, a popcorn machine, and pool table. A three quarter bath is adjacent so you don’t have to run downstairs at the commercial break. This property is offered at $649,000 and is currently assessed at $761,050. You won’t find a better equipped Cave, plus you get an additional 5,000 plus square feet of space for the missus.



Another truly fabulous Man Cave property I have seen recently is at 109 Hickory Stick Lane in Laconia. This Man Cave is located in the lower level (feels more natural) of a 3,553 square foot, four bed, four bath, high quality home built in 2007 in Country Club Shores. This home also has all the bells and whistles for the ladies including a well appointed kitchen, first floor master suite, tile, granite, hardwood floors, and breakfast nook. The lower level Man Cave is truly great; cork flooring, widescreen, built in Bose surround sound, pool table, and fully equipped bar with a kegerator (beer tap-very important). There’s a separate workout room with an exercise machine that looks like a piece of art (it's too nice to hang your clothes on it though), and a bedroom in case you can’t make it back upstairs. The downstairs bathroom is what really defines this space. There is a sink and a urinal only—a true Man Bath. This home is manly priced at only $399,900. If you are a true sports fan looking for a new home, you could be there for Super Bowl XLVII. Call me...





]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=187 3 Keys to $elling Your Home: Marketing, Price, and the Buyer Pool http://www.winnipesaukee.com/forums/blog.php?b=186 Mon, 30 Jan 2012 16:24:19 GMT *Image: http://lakesregionhome.usmblogs.com/files/2012/01/for-sale-sign-300x194.jpg (http://lakesregionhome.usmblogs.com/files/2012/01/for-sale-sign.jpg)* *The successful sale of any home in today’s somewhat trying real estate market can be broken down into distinct components that are...

The successful sale of any home in today’s somewhat trying real estate market can be broken down into distinct components that are inexorably linked together; (1) marketing the property, (2) the available pool of willing buyers, and (3) price. Unfortunately, these three components often get blurred and home sellers get confused and discouraged when their home doesn’t sell. They always ask why are so few buyers looking, why has it been on the market so long, and why is no one at least making an offer? Any offer!
It is logical that if you have a property for sale and you market it correctly, at the correct price, that you will eventually get a buyer. That’s the way it always has worked. So what has changed? Well for one thing, there are a whole lot fewer buyers in the swimming pool today. That’s no secret. So what do you do to increase your odds of finding a buyer. The answer really lies with the proper marketing of the home and the price it is offered at.



Buyers don’t generally fall from the sky, although sometimes it appears to be that way. Some have called it divine intervention when one miraculously appears. In reality, buyers are found through the marketing of a home no matter how ineptly or professionally it is done. There was a time when you could put a handmade cardboard sign on your lawn and you could sell the place over the weekend. Those times are long gone and may never return. Ineptness doesn’t work very well anymore unless you put an unbelievably low price on a property. Selling a home today has gotten very competitive and complicated.

The problem is that most sellers don’t know, or understand, how homes are marketed to begin with, let alone which methods are effective. Understanding exactly what your agency is going to do for you and comparing their program to others is very important. It is impossible to assess whether a buyer exists for your home unless you know for sure that your property is being seen by EVERYONE THAT MIGHT BE LOOKING FOR A HOME. Not only that, it must be marketed correctly and in the most positive and professional way possible. Properties that are promoted with a few fuzzy pictures, poor lighting, and even poorer composition combined with vague or incomplete descriptions of the property itself won’t get you far. If your agent relies on local newspaper ads as his primary print advertising component you should plan on living in your home a long, long time. Today you need professional grade photography, full color promotional material, national internet exposure on as many realty sites as possible, social media exposure, color print ads, video, and more. Reports can be provided to home sellers showing the number of times buyers see their home on the internet. So if plenty of people are looking at a property on line but not calling to see it in person, what should the seller conclude? Sellers also need to be very conscious of feedback from agents and buyers that have seen their property.



That being said, if you feel confident that your property is being seen by EVERONE THAT MIGHT BE LOOKING FOR A HOME, and no buyer comes forth to even make an offer, you can probably safely conclude that your price is very likely too high for the current market. If so, it is time to bite the proverbial bullet, swallow your pride, and reduce the price of your home to where it will attract an offer. Generally speaking, there is a buyer for every home at the right price.

Here’s something to think about on pricing. Last year, out of the 773 homes that sold, 50 sold in a week or less. They sold at 97.5% of the original asking price and at an average of 85% of assessed value (based on those providing tax assessments in the MLS). The 61 homes that sold in 8 to 14 days were at 95% of the original asking price and at an average of 88% of assessed value. The 78 homes that sold in 15 to 31 days sold at 94% of the original asking price and 90% of assessed value. It is no surprise that many sales took a lot longer. There were 398 properties that were on the market over 90 days before finding a buyer. These properties sold at 90% of the original list price and at 91% of assessed value. So it appears the better the price, the quicker the sale. You might also argue that you can get more for a property if you list high and play the "let's negotiate" game. There were also 1,062 properties that had their listings expire without selling in 2011—I wonder if they were all playing that game?



]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=186 2011 Lakes Region Residential Sales Report http://www.winnipesaukee.com/forums/blog.php?b=185 Fri, 20 Jan 2012 23:16:14 GMT *Sales of single family residential homes in the Lakes Region communities (http://www.lakesregionhome.com/area-info/town-insights/)in this report showed a pretty strong uptick in December with 89 transactions at an average price of $306,126.* In December of 2010 there were just 59 sales although... Sales of single family residential homes in the Lakes Region communities in this report showed a pretty strong uptick in December with 89 transactions at an average price of $306,126. In December of 2010 there were just 59 sales although at a higher average sales price of $369,112. Sales above the $400,000 mark were strong with 15 waterfront sales that closed in December. This was a pretty good finish to the year!



For the year there were 773 residential properties sold at an average price of $306,460 (which was 92% of the average asking price at the time of the sale) and these homes were on the market an average of 147 days. Incredibly, in 2010 there were also 773 sales at an average of $320,898 (which was also 92% of the average asking price) and those homes were on the market for 144 days! Pretty amazing and consistent!





So what price ranges were selling last year and how many days on the market did it take to sell a house? Just over 50% of the homes that sold in 2011 were under $200,000. Homes over $400,000 comprised 18.5% of the total sales and most of them were waterfront properties. As you can see from the following chart, the higher the price range, the longer it takes to sell. Also, remember the days on market shown here only represents the amount of time the home has been listed with the agency that sold it. Homes are often listed multiple times before they sell, so the average days on market is actually higher.




But just to show you that you can sell your home in this market 190 of the 773 homes that sold in 2011 went under agreement in a month or less, 112 of those went under agreement in two weeks or less, and 51 were under contract in a week or less.
The following chart shows the average sales prices in each town since 2006 and the percentage change in pricing since the overall peak in 2007. There were seven communities in 2011 where the average sales price when up compared to the average posted in 2010, but the average price for all towns combined dropped $320,898 in 2011 to $306,460. Most towns are still well off the highs of 2007 except for Moultonborough and New Hampton.



The median sales price also topped out in 2007:





So all in all, residential sales in 2011 were pretty much flat compare to 2010 with a slight drop in the average sales price. Hopefully, the strong finish in December will continue throughout the new year!



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]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=185 2011 Year End Lakes Region Waterfront Sales Report http://www.winnipesaukee.com/forums/blog.php?b=184 Sat, 14 Jan 2012 00:22:15 GMT *It was a great end to the year with *fifteen waterfront sales (http://lakesregionhome.usmblogs.com/files/2012/01/fifteen-waterfront-sales.pdf) *on Winnipesaukee (http://www.lakesregionhome.com/lake-winnipesaukee/) in December at an average of $675,300.* That compares to nine sales last December... It was a great end to the year with fifteen waterfront sales on Winnipesaukee in December at an average of $675,300. That compares to nine sales last December but at a much higher average price of $1,306,044. Only three of the fifteen sales last month were over the million dollar mark resulting in the low average sale price.



The least expensive sale in December was at 65 Cow Island in Tuftonboro. This classic Lake Winnipesaukee summer camp has the desired knotty pine interior, wood floors, a first floor bedroom, two large bunk rooms upstairs, a wood stove, and the requisite screened porch where you can sit and tell lies all night. The camp sits on a .79 acre level lot with 150’ of shallow sand bottom frontage and crystal clear water. This property was offered at $324,500 and sold for $282,000 after 190 days on the market. This property is currently assessed for $352,900 so I’d say you have a pretty happy camper there.



Out at 62 Varney Point Left Gilford there’s a new owner that will be tearing down the existing structure to make way for her dream home. The existing home, which was built in 1930 and remodeled in 1988, was not quite to her tastes. But the fantastic westerly views and 115’ of shore front which features a 24’ x 32’ boathouse, attached dock, and breakwater was. The property was offered at $1.195 million and sold for $925,000 after 121 days on the market. That’s just over the new assessed value of $896,540. It will be intersting to see what she builds there...



The largest sale of the month was at 97 Pleasant Street in Meredith. This 1960’s vintage, three bed, four bath, 4,000 square foot home has been nicely updated throughout. It features a first floor master, eat in kitchen, double sided fireplace, recreation room, screened porch, and a three car garage. It sits on a .48 acre lot with 136’ of frontage, dock, and has great views down Meredith Bay. This home was first listed in 2006 at $1.75 million, re-listed in February 2011 for $1.3 million, and sold for $1.1 million which is just under the $1.19 million assessment.



So how did we do for the year on the Big Lake? Pretty darn good, I’d say! The total number of sales were up from 96 in 2010 to 107 in 2011 for an 11.5% increase. However, the average sale price was down below the $1 million mark for the first time since 2003 when it came in at $994,688. The average price is down partially due to some weakening in waterfront prices but also because more lower and fewer higher priced homes sold compared to the prior year. There were 69 properties sold below $1 million last year compared to 52 in 2010. On the high end there were just four sales over $3 million while there were nine in 2010. The total sales volume for waterfronts sold was $106.4 million in 2011 compared to $120.7 million in 2010. The largest sale on the lake for the year was at 31 Wallace Point in Moultonborough at $4.325 million.





There were four sales on Winnisquam last month at an average sale price of $370,250 compared to just one last December. The largest sale for the month was at 264-3 Black Brook Road Road in Sanbornton. This property consists of a three bed, three bath main house, a 1 bedroom guest house, and a three car detached garage on a .65 acre lot with 125’ of frontage. This house was first listed in June of 2009 at $725,000, listed in 2010 for $659,900, and in 2011 for $649,900. After another $20,000 price reduction it sold for $575,000 which is just over the current assessment of $556,000. This brings the total on Winnisquam to 23 sales in 2011 at an average price of $480,536. That’s a 44% increase in total sales from the 16 sales posted in 2010. Just as on Winnipesaukee, the average sale price was down for the year when compared to the prior year’s average of $560,000.



Over on Squam there was just one sale in December and that was the property at 50 Route 113 in Holderness. This is a 1926 vintage, four bed, two bath, 1,600 square foot New Englander on a 1.71 acre lot with 114' of shore front, sandy beach, and a dock. It was first listed in 2009 for $729,000 and then re-listed this year at $699,000. It was reduced to $499,000 and sold for $450,000. The property is currently assessed at $624,710. Do you see a pattern? There were just seven sales on Golden Pond in 2011 at an average $1.036 million. But that is somewhat better than the five transactions in 2010 although the average sales price was about one half of the $2 million average posted .
We’re hoping that 2012 will be a great year for sales on all the lakes in the area. After all, there’s no place more beautiful and better to live or vacation in than the Lakes Region and right now many people believe there is no place to invest than in lakefront property. If you are considering a waterfront property this may just be one of the best times ever to buy. So contact your REALTOR® and go take a look. You may just find the home you’ve always dreamed of…



]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=184 A Bit of Optimism in the Air http://www.winnipesaukee.com/forums/blog.php?b=183 Sat, 07 Jan 2012 00:46:27 GMT *Image: http://lakesregionhome.usmblogs.com/files/2012/01/DSC_0109-Large-300x198.jpg (http://lakesregionhome.usmblogs.com/files/2012/01/DSC_0109-Large.jpg)* *The New Year always seems to start off with a big drop in inventory due to many listing agreements expiring at the end of the year.* For...

The New Year always seems to start off with a big drop in inventory due to many listing agreements expiring at the end of the year. For the communities listed in this report, we went from 1168 single family homes on the market as of December 1 down to 943 listings as of January 1, 2012. This represents about a 14.5 month supply of homes for sale which would be a much more manageable and healthy inventory level if we could stay there but many of these listings will be renewed or re-listed with another agency and work their way back into the system. Last January 1st we similarly had 940 homes available and the inventory was back up to almost 1,300 homes for sale by June 1. The median price point of the homes currently on the market is $249,000 which is down from $279,000 last January indicating that we have more lower priced homes on the market.

With 2012 underway, there appears to be a bit of optimism in the air. Showing activity seems to be up a little after the holidays and we are getting lots of property inquiries. People are out shopping for homes and it feels good. I do think that 2012 is going to be the Year of the Buyer. As I said last week, there is no better time to buy than right now. First of all, buying a home now means you will only have to make eight to ten payments before the world ends on Dec. 21. That leads me to believe that vacation home sales in warm areas will spike shortly. But just in case we are all still here on the 22nd, you will most likely have gotten a property at a greatly reduced price compared to just a few years ago. You will also have a loan with an unbelievably low interest rate around 4%. Remember when we thought a 6% or 7% rate was fantastic?

There were 180 homes listed in the towns in Belknap County (plus Moultonborough) that have an asking price that is less than 90% of the property’s assessed values. Seventy of those homes were priced under 70% of assessed value and some were as low as 30%. On the lower end many were bank owned, but quite a few weren’t. Just because a house is priced under assessed value doesn’t necessarily mean that it is a good deal, but it is a good place to start for the bargain hunters. Here are a few “non-bank” owned homes that would be worth checking out if you are in the market:



Up at 361 Ladd Hill Road in Belmont there’s an open concept, 1,512 square foot, two bedroom ranch built in 1987 on .95 acres. It is priced at $140,000 or 69% of its assessed value of $203,200. A 1,654 square foot, three bedroom ranch built in 2007 on 1.4 acres at 279 Horne Road also in Belmont looks like another possible good deal. This property is a short sale and is on the market for $185,000 which is 71% of the assessed value of $262,700. Over in Center Harbor at 256 Waukewan Road there is a 1,672 square foot, four bedroom, two bath cape built in 1980 on 5.75 acres of land that offers privacy and good upside potential. The property also has an 800 square foot barn, a 1,200 square foot garage/workshop, and an in-ground pool. This property is listed at $199,000 or 62% of assessed value of $318,900. Seems like it could be a good deal. You’ll have to go and check it out.



If you are looking for a Gilford property with some great potential, check out the house at 259 Morrill St. This 1970’s vintage, 2,252 square foot, three bed, three bath cape has large rooms and an open floor plan and sits on a beautiful 7.6 acre lot that has subdivision potential. While the home needs some updating, it is reasonably priced at $219,000 which is 77% of the taxed assessed value of $282,150. For more privacy take a look at the property at 140 Hermit Woods Road in Sanbornton. This 2,369 square foot contemporary was built in 1980 and has three bedrooms, two baths, an open floor plan that features a large living room with cathedral ceilings, loft area, and wood stove/hearth. It sits on a secluded 10.65 acre lot with 100’ of frontage on Hermit Lake. This home is priced at $349,000 which is 64% of the assessed value of $543,900. If a Winnipesaukee waterfront is in your future, you should look at the property at 48 Little Road in Meredith. This 5,827 square foot Adirondack home was built in 1982 and has five beds, six baths, and a separate guest apartment. There’s a three car garage and a two bay boat house to hold all the toys. The home sits on a 2.52 acre lot with 265'of shorefront and crystal clear waters. This property is offered at$1.495 million which is 72% of the assessed value of $2.085 million.

See, you don’t have to be a “one percenter” to get a great deal on real estate and feel like a millionaire. All you need is to get your REALTOR® to help you find your home before the world ends...





]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=183 Homes Have Feelings, Too... http://www.winnipesaukee.com/forums/blog.php?b=181 Sat, 24 Dec 2011 15:03:45 GMT *There were 60 single family residential home sales in the towns (http://www.lakesregionhome.com/area-info/town-insights/)* *covered by this report in November, 2011.* That’s just off the 63 sales last November although the average price was down from $365,623 to just $263,025. There was only one... There were 60 single family residential home sales in the towns covered by this report in November, 2011. That’s just off the 63 sales last November although the average price was down from $365,623 to just $263,025. There was only one sale over the million dollar mark last month compared to five in November 2010 which contributed to that significant drop in the average sales price. Sales under $200,000 continue to make up over 50% of the transactions while the $300-400,000 range is still struggling badly. Year to date, our total sales are off by just thirty transactions from last year and the average sales price is down from $316,914 to $306,504. It looks like it will take a Christmas Miracle to beat last year’s numbers.





I don’t know if you have ever noticed, but homes have feelings, too. I’m not suggesting that houses can be happy or sad, although I am sure some feel neglected and abused. What I am really talking about is how a home feels and the feelings you get from the property while you are there. It’s something we all experience, but probably don’t think about much. I got thinking about it a couple of weeks ago when I previewed a property that two of my associates have listed in North Hampton, NH. This property consists of 55 acres of beautiful fields, a caretaker’s cottage, a huge three story barn built in the 1800’s, a 60’ x 80’ storage barn, various other out buildings, and a Royal Barry Wills designed, 4000’ square foot, four bedroom cape. You begin to get the feel of the property when you first drive onto the lot, but it is the home itself that stood out to me.




Royal Barry Wills was an architect who was born in Melrose, Mass in 1895 and opened an architectural firm in Boston in 1925. Over the years he was involved in more than 2,500 home projects either as a builder or as the architect. In 1946, Life magazine proclaimed him to be responsible for “designing the kind of house most Americans want.” He was probably most famous for his cape style design which created a more spacious and user friendly interior than the traditional New England cape. These capes also featured larger living rooms, kitchens, and bedrooms as well as the addition of wings for family rooms, dens, screened porches, or garages. There was always a large center chimney fireplace and often multiple fireplaces throughout the home. The exterior utilized graduated clapboards, large 12 over 12 pane windows, a lower pitched roof, small dormers, and detailed front entries.





We have a number of Royal Barry Wills homes in the Laconia area and the thing that struck me when I went into the North Hampton home is that they all “feel” the same. You get the “feel” underfoot of a solidly constructed home that was well designed and thought out. But you also have “feelings” of being in the grander surroundings of a simpler time. You feel that you are in a high quality home even though the design or materials might be slightly dated by today’s standards. The “feel” and the “feelings” you get in one of these homes is quite different than you would get in a newer colonial or ranch.


All homes evoke certain feelings. You can the feel quality, comfort, charm, serenity, warmth, character, and personality of every home you go in. You can also definitely feel the lack thereof. A home devoid of feelings is a pretty hard sell. Home buyers know when they find a home that “feels” right to them both physically and emotionally. Buyers have to connect on an emotional level with a property before they buy it. Seller’s need to recognize that as well and strive to make their home “connectable” to the buying public especially in this market.
If you are selling your property, the holidays are a great time of year to enhance how your home feels. Your home is decorated in its finest, the tree is lit up, you’ve got a fire going in the hearth, and it’s warm and inviting. Homes have a great feel during the holidays. Try and carry that feeling throughout the rest of the year. It could just help you make a sale! Merry Christmas!








]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=181 The Elves Need To Get Busy... http://www.winnipesaukee.com/forums/blog.php?b=180 Fri, 09 Dec 2011 17:28:46 GMT *Image: http://blog.lakesregionhome.com/wp-content/uploads/2011/12/santa-sleigh-300x245.jpg (http://blog.lakesregionhome.com/wp-content/uploads/2011/12/santa-sleigh.jpg)* *As of December 1, the residential home inventory was bulging like the sack of toys in the back of Santa’s sleigh! *There...

As of December 1, the residential home inventory was bulging like the sack of toys in the back of Santa’s sleigh! There were 1168 residences available at an average asking price of $498,326 in the communities covered by this report. That is up from the 1074 available last December at an average price of $548,594. The median price point is down from $279,900 last December to $259,450 this month indicating that there are more lower priced homes on the market. The current inventory represents a nineteen month supply of homes to be sold. The elves need to get busy...

The mortgage industry meltdown has certainly made buying a home in today’s market a somewhat daunting task. Lending requirements are back to basics with a renewed emphasis on the "three C's of credit": credit history, capacity (your ability to pay back the loan) and collateral (the value of your property and your down payment or equity). That’s the way it used to be so that's really a good thing.

But with Fannie Mae and Freddie Mac guaranteeing the bulk of all home loans today they are going to rather extreme lengths to ensure that there are no bad loans written. Buyers face more and more demands to prove income, verify assets, show steady employment, and explain things like small bank account deposits. In addition, not only does the property being purchased have to appraise, but the property itself goes under a lot more scrutiny. Concerns about the condition and state of repair of the property often can affect getting a mortgage. The National Association of Realtors has gone on record stating lending regulations are too tight and are hurting the housing recovery. From what I see I would agree. The pendulum has swung too far. That’s the bad thing.



One housing segment that has been hurt by even more regulations are condominium complexes. In order for someone to purchase a condominium with a loan backed by Freddie or Fannie the condo association must meet some pretty stringent guidelines. So it’s not just the buyer’s credit that is checked, the condominium association’s financial picture is closely scrutinized and must be approved. For example, condo associations must have a minimum of 10% of their annual budget set aside for reserves. No more than 15% of the units can be more than 30 days delinquent on their condo fees. No more than 10% of the units can be owned by a single entity and no more than 20% of the project can be “non-residential space” such as restaurants or shops. Buyers are also required to get condo unit owners insurance and the association must have fidelity insurance if it is larger than 20 units in order to ensure that the association funds are protected. There also can be no litigation against the association with respect to structural soundness, safety, or habitability of the units.



Essentially, what this means is that if a project is not approved by Freddie or Fannie then the only way a buyer can purchase a unit is with cash or a conventional “portfolio loan” from a local bank with 20% down. As many of the buyers for condo units in our area are first time buyers and need to use FHA financing with a lower 3.5% down payment these rules really limit those buyers’ choices. Some condo associations, like Waukewan Village in Meredith NH, have taken the initiative to get their complexes approved in order to make it easier for their owners to sell should they desire. That’s pretty smart. Waukewan Village is the only association in Meredith currently approved. In Laconia Weirs Crossing, Quail Ridge, Water Street Condominiums, Beaver Pond Estates, and Meadowbrook Town Homes also have approvals. There are currently no associations approved in Belmont or Gilford although Mulberry Hill in Gilford is currently in process. HUD.gov has a page that consumers can go to and check which complexes are approved. Some lenders are given designated underwriting authority by HUD to certify that associations meet the requirements and that could certainly save buyers some time. So if you are considering a condo purchase you should check to see whether they meet with Fannie or Freddie’s approval.Your local REALTOR® would be happy to help you and answer any questions you may have.






]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=180 The Black Friday Residential Sales Report http://www.winnipesaukee.com/forums/blog.php?b=179 Fri, 25 Nov 2011 14:56:52 GMT *The number of residential sales last month in the towns (http://www.lakesregionhome.com/area-info/town-insights/) covered by this Lakes Region (http://www.lakesregionhome.com/)market report were up 16% over last October.* There were 79 transactions in October 2011 at an average sales price of... The number of residential sales last month in the towns covered by this Lakes Region market report were up 16% over last October. There were 79 transactions in October 2011 at an average sales price of $300,711 compared to 68 sales October last at an average price of $395,012. For the first 10 months of the year we have had 624 sales at an average $310,684 compared to 651 sales at an average $312,000 for the same period last year. It would be nice if we could have an exceptionally strong holiday season and finish ahead of last year. Maybe Santa will be nice and bring lots of buyers this Christmas season.



Speaking of Santa, Black Friday is here and the holiday shopping frenzy has officially begun. Yeehaaa! Every year I put together a list of home improvement related gifts ensuring that the Mrs. can’t go wrong when she is shopping for her hubby. I consider it one of my many public service announcements. So what would be welcomed under the tree this year?



Starting with some stocking stuffers, over at Sears you can pick up a Craftsman 8 in 1 Ratcheting Rotary Wrench with eight six point sockets sized from 5/16” to 3/4” for only $29.99. Black and Decker also has a similar tool, the RRW100 Ready Wrench, that has 16 color coded (some of us need all the help we can get) metric and standard sizes for only $16.95. Every guy needs wrenches and for these prices you can’t go wrong.



Or how about the Black and Decker Li3100 Compact Lithium-Ion screw driver? Unlike some other cordless screwdrivers it features advanced battery technology that keeps the tool charged and ready for up to 18 months. Its compact design and LED light are especially helpful in dark or cramped spaces. A great gift for under thirty bucks.



I have always had trouble finding a good notebook. If you’re like me you need to write everything down. But pages always seem to tear or rip out of those cheap spiral bound notebooks. I stumbled on a highly durable, 3 ½” x 5 ½”, 48 page memo book that is bound with a three staple saddle stitch process. It has a heavy duty cover and 6.5mm paper that won’t tear easily or bleed through. They come with plain, ruled, or graph paper and fit perfectly in your shirt pocket. They are sold in packs of three for $9.95. You can also get a larger 6” x 9” 80 page steno version for $9.95. You can order these on line at www.fieldnotesbrand.com. They’re great for all the “to do” lists you have in mind. You can fill one out so he has some chores to start with.



The Black & Decker TLD100 Thermal Leak Detector will satisfy the guy who likes gadgets. This handy device will detect areas in your home where you have poor insulation or leaks around your fireplace, doors, windows, electrical outlets, or recessed lighting. Not only will you have him out of your hair for hours, he will then be able to fix the drafts you have been complaining about and save you some money on heating and cooling bills. He can also use this to check the temperature of the beer fridge. He’ll like that. Find it at Sears for around $30.



The ever popular Leatherman #830846 Skeletool Multitool makes my list once again as it is something that the guys always appreciate. I know the ladies would rather see a nice set of steak knives, but this tool not only will slice and dice with its razor sharp blade, it has needle nose and regular pliers, a bit driver, wire cutters, and a bottle opener which is real handy for that expensive foreign beer. It is available on Amazon.com or Home Depot for around $60. You can’t go wrong here.


I find that I not only can’t remember as well as I used to, but I also can’t see as well either. Especially the sizes that are stamped on my socket sets. (Ladies, those are those little thimble looking things that attached to a handle to loosen nuts.) They were always hard to read even back when I could actually see something. I’m guessing there are a lot of us in the same boat. Well Sears figured that out a while ago and made Easy To Read Socket Sets with numbers you don’t need a magnifying glass for. They offer a variety of sets with prices starting under $20 and proceeding up to several hundred depending on the size of the set. If hubby works on nothing more than the lawnmower he’ll appreciate these.



Things that go “whir-whir” such as cordless drills are always welcome by the home do-it-yourselfer. There seems to be hundreds of cordless drill choices from as little as $30 up to $400. What you should buy your master of the tool universe depends on how much and what he uses it for. Most can get by with a less expensive 3/8” cordless drill like the Black and Decker 20 Volt-3/8” Drive Lithium-Ion Drill/Driver for just under ninety bucks at Lowes. If he’s into really into making holes, something like the Dewalt 18 volt ½” cordless Lithium-Ion drill/driver Model DCD-760KL might be the ticket. It has an extra battery, case, and can handle the larger bits. In any event talk to the salesman at Lowes, Home Depot, or your local hardware store for their recommendations based on your hubby’s needs.



If you have a heated garage at your home you might consider buying your husband a Park-Smart Garage Floor Mat. I know it is not very glamorous but I’ve used them for years and they work great. These vinyl floor mats collect and contain all the snow and mush that melts off your car overnight and keeps your floors clean. They are made of 20 mil vinyl and have edges that snap on to contain the liquid. They start at $150 for a 7.5’ x 14’ and increase depending on the size you need. For a few bucks more a 50 mil version is available. You can order on line at places like www.autogeek.net or amazon.com.

If you don't think any of these items will work for your man, just remember, when shopping for tools if it is shiny, or makes noise, or has dials on it, can be used to open something, cut something, or bang on something he'll probably like it. Happy shopping!






]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=179 Lakes Region Waterfront Sales Report - October 2011 http://www.winnipesaukee.com/forums/blog.php?b=178 Fri, 18 Nov 2011 20:24:26 GMT Halloween has come and gone and it didn’t scare off buyers looking to purchase waterfront homes on Lake *Winnipesaukee (http://www.lakesregionhome.com/lake-winnipesaukee/)*. There were *eleven sales (http://blog.lakesregionhome.com/wp-content/uploads/2011/11/eleven-sales.pdf) *at an average price... Halloween has come and gone and it didn’t scare off buyers looking to purchase waterfront homes on Lake Winnipesaukee. There were eleven sales at an average price of $1.17 million and a median price point of $950,000. That matches the eleven sales last October although the average sales price came in higher at $1.46 million. If there is a any bright spot or consistency in our current real estate market it would have to be waterfront sales on the big lake.



As usual, the least expensive sale (that’s the nice way to say cheapest) in October on Winnipesaukee is an island property. In fact, the three least expensive properties were on islands, but the property at 305 Bear Island in Meredith took the lowest priced honors selling for only $157,000 after 225 days on the market. This bank owned property was initially listed for $254,900 and subsequently reduced to $179,000. The town has the property assessed for just over $300,000. This one bedroom cottage has a huge screened porch plus a bunkhouse and sits on a .23 acre lot with 100 feet of frontage with some pretty good docking. The only problem was that part of the house and the bunkhouse are on the neighbors lot. A “slight encroachment” you might say. But I guess that is not as big of a problem as one might think. After all, this is NaHamsha ya’know and at least the septic system was on the right lot.



Over at 37 Hanson Drive in Moultonborough, Scott Fuller Development built a nice 4,524 square foot Adirondack home proving that if you build the right home they will come. This quality home has three bedrooms including a first floor master suite, five baths, custom cherry cabinetry, granite, natural woodwork, great room, stone fireplaces, and family room. You know the drill. This home sits on only a .52 acre lot with 100 feet of water frontage proving that maybe less if more if that “less” is pretty good. This property was offered at $1.75 million and sold for $1.69 million going under contract after 107 days on the market. It is nice to see a new construction on the lake move quickly.



The largest sale on Winnipesaukee was in Wolfeboro at 72 Parker Island Road. This modest 8,300 square foot, eighteen room, six bedroom, eight bath home built in 1986 was completely rebuilt in 2002 with no expense spared. I have to admit, it looks pretty nice, but one might be a little nervous about kicking back here or coming in with a bit of sand on your flip flops. But hey, to each his own. There are magnificent views from most rooms in this impeccable home, first and second floor master suites, sauna, exercise rooms, and the open floor plan with a traditional feel lends itself to eloquent entertaining. You know, kind of like Tony Bennett style versus Lynard Skynard, but all is good. The professionally landscaped 3.37 acre lot has 242 feet of frontage, a sandy beach, stone patios, breakwater, and docking. This home was listed at $4.195 million and sold for $3.8 million. The Town of Wolfeboro currently has this property assessed at $4.116 million.



There were two sales on Winnisquam last month but that doubled the amount in October last year. The largest sale was at 116-2 Gray Road in Sanbornton. This really neat, custom built, 2,368 square foot, two bedroom house has that true lake home feel. It kind of reminds me of a place Jimmy Buffett would like. There’s plenty of knotty pine, hand forged lighting fixtures, a large custom kitchen with cherry cabinets, a Viking stove, and granite counters, two fireplaces, a master suite, and a year round porch to drink margaritas on. There is even a two bay carriage house with a bunk room above for any Parrott Heads that want to come and visit. The well landscaped .38 acre lot has 100’ of frontage and a 40’ dock, raft, and mooring. This property was originally offered at $649,000, reduced to $599,000, and went under contract at $569,000 after only 73 days on the market.

Once again, there were no waterfront homes sold on Squam. All I can hear is Don Gibson singing “Oh, Lonesome Me…” Maybe we'll get one next month?






]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=178 <![CDATA[No, the water's low because the tide is out...]]> http://www.winnipesaukee.com/forums/blog.php?b=177 Fri, 04 Nov 2011 20:07:09 GMT *As of November 1, 2011 there were 1277 residential homes on the market in the communities (http://www.lakesregionhome.com/area-info/town-insights/)in this Lakes Region (http://www.lakesregionhome.com/)real estate market report.* The average asking price came in at $516,128 with a median price... As of November 1, 2011 there were 1277 residential homes on the market in the communities in this Lakes Region real estate market report. The average asking price came in at $516,128 with a median price point of $269,900. Last November there were 100 fewer homes on the market at an average asking price of $559,403 and a median of $284,450. Seems like all the trends are heading in the wrong direction including the weather. The current home inventory represents a 20.5 month supply of property to sell. That’s a lot of work, but maybe it will help keep us warm this winter…

Being a real estate agent means that buyers rely on you for all sorts of important information about homes and our area in general. Buyers from outside of N.H. often have some real misconceptions about country living here in the Lakes Region. I find that I get asked the same questions every year. I end up answering “no” a lot but I also like to have some fun with the “flatlanders.” Here are some stock answers to the obvious questions:



No, it doesn’t usually snow this much in October.

No, they don’t plow the roads in the winter. We stay home when its snows, until spring.

No, you can’t boat from Lake Winnisquam and Lake Winnipesaukee, unless you go really fast.

No, there are no old waterfront cottages on Winnipesaukee for around $100,000… no matter what the condition.

No, that cottage is on an island. That’s why it’s so cheap…

No, there is no such thing as cheap waterfront land.

No, you can’t just put a mobile home anywhere.

No, this tax bill is not an error.



No, there is no public sewer here. We have out-houses.

No, the condo fee does not cover your fuel and electric bills.

No, they probably never will pave this road.

No, we never lose power…for more than a month or so.

No, this really is the center of town.

No, traffic is always like this in Meredith, at least on the week-ends.


No, there is no shorter way to Wolfeboro until the tunnel is finished.

No, I don’t know where you are. Do you know how many white homes there are on the lake?

No, bears will run the other way. Usually.







]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=177 The Dead Listing http://www.winnipesaukee.com/forums/blog.php?b=176 Fri, 28 Oct 2011 13:25:24 GMT *Image: http://blog.lakesregionhome.com/wp-content/uploads/2011/10/hautnted-house-200x300.jpg (http://blog.lakesregionhome.com/wp-content/uploads/2011/10/hautnted-house.jpg)* *When I (http://www.lakesregionhome.com/about-roy-sanborn/) answered the phone, I could barely make out the faint voice...

When I answered the phone, I could barely make out the faint voice on the other end of the line. The woman, almost whispering, said her name was Liz and that she’d like to see my new listing on Elm Street. It’s a charming, older Victorian that has been drawing lots of attention because of the low price. I asked her if she could come into the office to talk about exactly what she was looking for as this home really needs work. She whispered again that she would meet me at the home at 6:00 that night. I started to ask if she had a pre-approval letter, but she was gone. I didn’t even get her cell phone number. That’s the way it goes with buyers today. They're always in a rush and never want to give anyone any information! It’s the new way of home buying in this internet age. Real estate agents are used to this, but it doesn’t make our job any easier.

I pulled into the driveway of the home slightly before six. I like to get to showings early to turn on all the lights, open the curtains, and make sure everything is OK before the buyer arrives. But it's getting dark earlier now and the windows were pretty dirty so I left the curtains shut. I entered the front door and went into the living room and started clicking light switches. This home has been vacant for a while but is still full of old dusty, ragged furniture. The place doesn’t really show that well, but it is an estate sale so people understand. In fact, some people get excited about buying the furniture, more so than the home. It’s amazing how the mixture of clutter and nice old antiques can distract buyers from what they are really there to look at. That musty, moldy smell doesn’t help much either.

As I flicked on the kitchen light there was a loud pop and all the lights went out. The electrical system in this place must need some work. Even though the house has been upgraded with circuit breakers it still has old knob and tube wiring so this is definitely not a home for FHA financing.

I went out to the shed that connects to the large barn at the rear of the home. Luckily, the breaker box is in there instead of down in the dark and dungy wet basement. I didn’t think to bring a flashlight. It was still pretty dark though and I stepped through the door and got a face full of cob webs. Something scurried off across the ceiling. Probably squirrels? They probably have been eating the wiring. Just something else for the home inspector to pick up on. I reached out to where I remembered the breaker box to be, fumbled with the door, and started flicking breakers in hopes of finding the right one. I got lucky about the ninth try as I could see the kitchen light up beyond the shed door.



I pulled the door open to go back into the kitchen and immediately jumped backward. The hair stood up on the back of my neck, startled by the sight of the old woman standing there not two feet from the door. “You surprised me,” I said, “I didn’t hear you come in.” She didn’t respond and just looked at me blankly. Kind of sadly. She was dressed in a flowing nightgown. She took several steps backward, slowly into the light, and I could see her clearer now. Actually, I could see right through her. Real estate agents, over time, learn to see which buyers are real and which ones are not. This buyer was clearly not a real buyer, not real at all. She was clearly an apparition. A ghost of buyers past? “Are you Liz?” I asked, “Are you looking to buy this house?” She raised her right hand and in it was a piece of paper which she tossed at me. Picking it up, I could see it was an old deed from 1927. “Look at the name,” she whispered in the voice I recognized from the phone call. The name of the deed was Elizabeth Borden which I quickly recognized at the name of our dearly departed former owner. “Get out now!” she whispered, “Get out now!” I did, quickly. Could she be THAT Lizzy Borden? She can turn the lights off herself.



That’s it, I’m done with this one. Not only do I have to disclose that this place has bad wiring, a wet basement, peeling paint, and that it is infested with rodents, I also find it my duty to tell the buyers that I have seen my deceased client! This home is one of those dreaded “Dead Listings!” That’s a real Nightmare on Elm Street. Boo-tiful, just plain boo-tiful! Happy Halloween…




]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=176 Chasing a falling real estate market http://www.winnipesaukee.com/forums/blog.php?b=175 Mon, 24 Oct 2011 04:24:29 GMT I wrote a few months back about people who are trying to sell a house that fall into a pattern of “chasing a falling market.” A sale occurred earlier this year which is a perfect example. The house came on the market in late 2009. In the following 16 months, the property reduced its asking... I wrote a few months back about people who are trying to sell a house that fall into a pattern of “chasing a falling market.” A sale occurred earlier this year which is a perfect example.

The house came on the market in late 2009. In the following 16 months, the property reduced its asking price 6 times. The 7th time it was sold at auction. The property sold for 37.5% lower than the asking price in late 2009.

  1. The 1st price decrease came shortly after it was listed. It was a modest 2.8%.
  2. The 2nd came 3 months later, mid winter, this time for 4.9%.
  3. The 3rd came 1 month later, this time a modest 1.1%.
  4. The next was 1 month later, another modest 2.3%.
  5. The next came 1 month later, this time 11.8%.
  6. Another attempt was made 2 months later, this time for 8.1%.


As mentioned, 8 months later the property was sold, finally 13.6% below the last ask.


The house started at $335/sq ft, and ended up at $209/sq ft. [LIST][*]I you assume the auction price was below market, perhaps the end price would have been $225/sq ft.
  • If you assume the start price was high, perhaps it should have been $305/sq ft.
  • This means that, over 16 months, the property would presumably have gone from $305 to $225 per sq ft, or a decline of 26% over 16 months. In other words, an annual decline of about 20% per year. Every quarter, taking a linear approach, the property was dropping 5%.

This is a “falling market.” Sometimes it takes a bit to see you’re in it. So allow yourself 1 quarter. You started at $305, a quarter has passed, you’ve wised up, and your house is probably worth $290.


Now here’s the difference between “chasing a falling market” and “getting in front of a falling market”.

  • The “chase” scenario says you put it on the market for $290 per sq ft.

  • The “getting in front” scenario says you put it on the market for $275. Your Realtor says no way. Your friends and neighbors are angry because you’re “dropping” the market. And the Buyer who comes along knows you’re panicking, or at least he thinks you are. So he low-balls you and offers $255 and you take it.




The 6th price decline taken on this property brought it down to $242 sq ft. You beat that price by 5%, and you beat the auction price by 22%. Are you happy? No. Are you satisfied? No. Are you walking away with money in your pocket? Not much. Have you avoided default and credit destruction. Yes.

In recent sales figure it appears the average price is down +/-25% from a year ago. This is a falling market. You can bet on the bottom and “chase” it, or you can bet that you can’t know the bottom and “get ahead of it.” ]]> ushaggerb http://www.winnipesaukee.com/forums/blog.php?b=175 Lakes Region Waterfront Sales Report -September 2011 http://www.winnipesaukee.com/forums/blog.php?b=174 Fri, 14 Oct 2011 23:18:03 GMT *Fall may be here, but there were still seven waterfronts (http://blog.lakesregionhome.com/wp-content/uploads/2011/10/seven-waterfronts.pdf) sold on Winnipesaukee (http://www.lakesregionhome.com/lake-winnipesaukee/) last month at an average price of just $714,357. *That compares to eight sales last... Fall may be here, but there were still seven waterfronts sold on Winnipesaukee last month at an average price of just $714,357. That compares to eight sales last September at an average of $941,938. There were two sales over the $1 million mark compared to three last September. For the first three quarters of this year there have been 76 transactions on the big lake at an average sales price of $1.041 million and a median sales price of $840,000. For the same period last year there were 67 transactions with a slightly higher average sales and median price of $1.16 million and $858,000 respectively. So total sales are up 13% over last year which is great, but there has been a slight but definite trend toward lower priced waterfront sales. There have been 45 transaction under $1 million this year compared to 37 for the first three quarters of last year. On the high end there were three sales breaking the $3 million mark so far this year compared to five sales for the same period last year.



The least expensive sale on Winnipesaukee was at 157 Mount Major Highway in Alton. This home is actually across the street from the lake but has 60 feet of frontage and a dock on the water. This seasonal , two bedroom (plus a loft) cottage has a knotty pine interior, brick fireplace, and a screened porch overlooking Alton Bay. There’s also a waterfront deck to hang out on with a pitcher of icy Margaritas. This little place was first listed way back near the peak of the market in July of 2006 at $389,900, was on the market for a couple of years, and then re-listed in December of 2010 for $250,000. It came back on the market again this past March for $199,000, was reduced to $189,000, and went under contract for $155,000. So all it took was five years and a $234,000 price drop to find a buyer. The current tax assessment stands at $216,300. I’m not sure if the seller is ecstatic or crying?



An older 1964 vintage lake home at 420 Edgwater Drive on Governor’s Island in Gilford also sold after 675 days on the market. This 2,626 square foot four bedroom classic lake home has two full and two half baths, a living room with lots of wood, soaring ceilings and the requisite stone fireplace, a den, large kitchen, and great views of the lake. The 1.7 acre lot is level, has a sandy beach, and a permanent covered dock. The question here is whether it will be used as is or if it will make way for a newer, larger home. This home was originally listed at $2.395 million, was reduced to $1.495 million and sold for $1.15 million. It is currently assessed for $1.56 million.



The largest sale for the month was in Wolfeboro at 3 Wyanoke Gate Lane. This 3,600 square foot, open concept, contemporary was built in 1980 and features ten rooms, four bedrooms, three and a half baths, a chef’s kitchen with granite counter-tops, separate dining area, cathedral ceilings and stone fireplace, and views of the lake from almost every room. Outside there is a grand patio and a cabana over the boat house that are perfect for waterside entertaining. This home is located on a well landscaped 1.38 acre lot with 200 feet of frontage on Winter Harbor. It also has access to a private association beach and tennis courts just down the nature trail. This great property was listed at $1.775 million, subsequently reduced in steps down to $1.295 million and sold for $1.188 million after 648 days on the market. This property is currently on the Wolfeboro tax roles at a value of $1.542 million. Sounds like the new owner got a good deal…

Without trying to sound bleak, if you average the last two sales above, it took an average price reduction of $933,500 and 661 days to sell them. For all the waterfronts that sold for over a $1 million in the first nine months of 2011, the average sales price was $346,000 less than the original asking price and they took 268 days on market to sell.

It just goes to show how long it takes to sell a property that is not priced correctly.
Over on little sister Lake Winnisquam, there were no sales last month and only one last September. I hate getting skunked. But for the first three quarters of this year there have been a total of 17 sales that sold at an average price of $508,254 after an average 99 days on the market. For the same period in 2010 there were 12 properties sold at an average price of $564,104 with an average 135 days on market.



Up on Squam there was just one sale in September and that was at 35 Grapevine Cove in Holderness. This 1974 vintage contemporary was completely and tastefully remodeled in 2003 and has a nice open floor plan. It has 1,536 square feet of lake loving space, three bedrooms, two baths, hardwood floors, stone fireplace, great kitchen with stainless steel appliances, and sliders that lead out to a large deck overlooking Golden Pond. This home sits on a level .32 acre lot with 90 feet of frontage with a sandy beach and permanent dock. This great waterfront retreat was listed at $849,000 and sold for $800,000 after only 102 days on the market. This property is currently assessed at $670,860. For the year to date there have been six sales on Squam with an average price of $1.11 million compared to just two for the same period last year. It’s great to be three times better than last year, right?

So through nine months, the total number of waterfront homes sold in the Lakes Region are up slightly from last year while prices seem to have fallen slightly. Many of the successful sales are coming after long periods of time on the market and usually after some price reductions to bring them down to a point that buyers are able to see true value and potential upside in their purchase.






]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=174 Geothermal Design - Installation http://www.winnipesaukee.com/forums/blog.php?b=173 Thu, 13 Oct 2011 10:56:22 GMT When considering the installation of a new heating system give geothermal a look. With today's federal and local rebates, it can actually cost less to go with a geothermal heating system rather than the best propane or oil system. Benefits include minimal reliance on fossil fuels, cleanest energy available and a typical fuel savings annually of 50%.


To give those interested a better understanding of Geothermal Heating, I have decided to offer a look into this technology and its benefits. The featured home is a new 2 story, 1800 square foot home being constructed with optimum energy efficiency in mind here in the Lakes Region.

Step 1. System Design: The design of a geothermal heating system is specific to each individual home. Windows, doors, insulation r-values and the building envelope are important features to consider when designing a system.


Design Summary: Lakes Region Home

Design Data:

Heating Load: 37,500 Btuh

Heating Temp Diff: 65.0 °F

Cooling Load: 24,000 Btuh

Cooling Temp Diff: 20.0 °F

Constant Fan: No

Design City: GREEN BAY, WI

Winter Design: -9 °F

Summer Design: 88 °F


Comfort Conditions:

Heating Setpoint: 60 °F

Cooling Setpoint: 72 °F

Start Cooling Temp: 72 °F


Annual Load:

Heating: 58.5 million Btu

Cooling: 12.0 million Btu


Performance Summary

Heating Electrical Use: 4,768 kWh

Cooling Electrical Use: 355 kwh

Estimated annual energy use: $1262.00


As the installation progresses, I will post photos of Step 2. The Installation, to this Blog… ]]> Broome Building Co. http://www.winnipesaukee.com/forums/blog.php?b=173 Good Deals = Quick Sales http://www.winnipesaukee.com/forums/blog.php?b=169 Thu, 22 Sep 2011 14:13:06 GMT *Image: http://blog.lakesregionhome.com/wp-content/uploads/2011/09/house-chart-300x225.jpg (http://blog.lakesregionhome.com/wp-content/uploads/2011/09/house-chart.jpg)* *Residential homes sales in the Lakes Region (http://www.lakesregionhome.com/) communities ...

Residential homes sales in the Lakes Region communities covered by this market report jumped a healthy 23% in August compared to the same month last year. There were 83 sales last month at an average of $330,718 compared to 67 last August at an average of $411,780. A 23% increase in sales is welcome news but one month doesn’t make a trend. On a rolling twelve month basis we are still off last year’s pace…just a bit. For the twelve month period ending 8/31/10 there were 772 sales at an average of $312,389. For the twelve month period ending 8/31/11 there have been 758 sales at an average of $331,556. Hopefully, a strong fall sales season will bring us up over last year’s total numbers.

As usual, about 50% (49.4% to be exact) of the sales were under $200,000. The sale to asking price percentage averaged 93%. One statistic that perhaps tells a little more of a story is the sale to the original asking price percentage. Last month the sales price was 88% of the original asking price which means that there was a 5% reduction on average in the original asking price before the homes went under contract. Sale prices averaged 95% of the home's assessed value (for the homes reporting the assessed value in the MLS system).



There were a number of quick sales last month and it is always interesting to see what sold and why.The quickest sale, at least according to the MLS system, was a home that sold the same day it was put on the market only it was never on the market. Huh? It was actually a For Sale By Owner, that a quick thinking agent named Jason had in the back of his mind and showed to his client that had exhausted the other possibilities. It turns out that the buyer had always wanted this property and didn’t know it was for sale. This turn of the century Winnisquam waterfront property at 20 Winnicoash Street in Laconia has 1,624 square feet of living space, three bedrooms, 1 ½ baths, a one car garage, and sits on a .31 acre lot with 94’ of water frontage. The asking price was $480,000 and it sold for $457,674 which was well under the assessed value of $523,200.



Another extremely quick sale was at 44 Driftwood Drive in Moultonborough. This Winnipesaukee waterfront home was built in 2000 and has 2,924 square feet of living area, a master bedroom suite, three guest rooms , three full baths, cathedral ceilings, gas fireplace, and a two car garage on a .63 acre lot with 100 feet of frontage with southern exposure. This property was listed for $859,000 and sold for $825,000 after just two days on the market. The town’s current tax assessment is $943,000. Good deal, quick sale, happy seller, and happy buyer!

Over at 26 Hunter Court in Belmont an older 70’s vintage two bedroom, two bath, 1416 square foot ranch with a two car garage on a 1.11 acre lot also found a quick buyer. This property was listed at $134,900 and got a full price offer after only five days on the market. This great entry level home is currently assessed for $193,600.



Another ranch at 104 Waukewan Road in Center Harbor also sold for well under assessed value. This home was built in 1979 and has 1,536 square feet of living area with three bedrooms, two full baths, hardwood floors throughout, and a two car garage. It sits on a sunny 1.15 acre lot near the Waukewan Golf Course so I hope the new owners like to chase those little white balls around. This home was listed at $199,900 and sold for $187,500 after only 8 days on the market. The assessed value is $287,900. Are you beginning to see the trend?



A great little cottage with access to Hills Pond at 197 Alton Shores Road in Alton also sold in just 9 days. This four room, two bedroom, 680 square foot get-a-way is cute as a button and sits on .56 acres with two lots of record. The property is seasonal, but at only $93,500 it makes a great little summer vacation property. Perhaps you can go there to hide from the Mrs. or vice versa. The town’s current tax assessment is $117,1000.

So there you have it. Five quick sales; two waterfronts, two small ranches, one water access, and more accurately, five good deals.





]]> Roy Sanborn http://www.winnipesaukee.com/forums/blog.php?b=169