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Lake Winnipesaukee and Winnisquam Waterfront Report - October 2012

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Posted 11-23-2012 at 11:42 AM by Roy Sanborn

There were ten Winnipesaukee waterfront homes that changed hands in October at an average sales price of $1.444 million with a median price point of $872,500. That brings our total for the year to 103 transactions at an average sales price of $1.056 million compared to 87 transactions at $1.057 million or the first ten months of 2011. That's a 19% increase in the number of sales which I would say is pretty good considering the state of the economy.

The least expensive property sold on the lake was at 1795 Mount Major Highway in Alton. This property consists of a 1935 vintage, 1,848 four bedroom classic lake cottage along with two additional camps all of which are seasonal. The structures sit on a 1.25 acre lot of land with 34’ of frontage and a dock that is actually across Route 11 which made the sale of this property a long process. It was first listed back in April of 2006 at $799,000 which was perhaps a bit aggressive even in the good old days. It was re-listed again in 2007 at $588,000, in 2011 at $399,000, and again in 2012 for $330,000. A subsequent price reduction down to $295,000 finally attracted a buyer at $285,000- a far cry from $799,000. The current tax assessment is $213,400. This just goes to show that all waterfront is not created equal.

The home at 7 Hallin Court in Alton represents the median price home of the month with a sales price of $800,000. This is a 3,172 square foot contemporary colonial built in 2000. It has four bedrooms, three baths, a spacious open floor plan, hardwood floors, formal dining room, four season tiled sun-porch, and a detached three car garage. The home has extensive mahogany decking and three balconies to enjoy the views from. It sits on a professional landscaped third acre lot with 110' of frontage and a 50' dock. This home was listed at $910,000 and took 564 days to find a new owner. It is currently assessed for $757,200. I think what sold this house was that you could walk to the Sandy Point restaurant from there...

The largest sale of the month was Mitt Romney's house in Wolfeboro which he sold to pay off campaign bills. No, I'm kidding. Mitt's still with us (I think) and his house is not for sale. But the largest sale was in Wolfeboro at 308 and 309 Sewall Road. Anyway, this property consist of a three bedroom home built in 2006 on a .26 acre lot with 57’ of frontage plus a four bedroom guest home built in 2000 on a .51 acre lot across the street. The lakeside home is bright and open and was built using the finest quality materials. Attention was paid to every detail. The home has three fireplaces, hardwood flooring, beautiful trim work, coffered ceilings, extensive built-ins, electronic shades, sound system throughout, and even an elevator. Outside the home has extensive stonework, a level lot with a great sandy beach, and beautiful westerly views of the Belknap Mountains. This home was initially offered at $4.75 million, reduced to $4.3 million, and sold for $3.6 million after 750 days on the market. It is currently assessed at $3.3 million.

Over on Winnisquam there were three sales bringing the total number of transactions so far this year to 15 compared to 19 for the same period last year. At 106 Lower Bay Road in Sanbornton a 70's vintage, four bedroom, 2,720 square foot ranch located across the street from the water but with 260' of frontage on the lake finally sold for $395,000. It was originally offered at $695,000 back in April of 2010 and this year at $449,000. After a price reduction to $395,000 it finally found a buyer at full price after 896 days on the market.

Just down the street at 29 Lower Bay Road a three bedroom, two and a half bath, 1,556 square foot cottage and garage on a .42 acre lot with 100' of frontage had a similar journey in time. This home was originally listed in August 2008 at $589,000, in 2009 at $520,000, and in 2010 at $499,000. It was listed this year at $465,000 and quickly found a buyer at $429,000. It is currently assessed at $545,500 so I think the buyer got a good deal.

Lastly over at 19 Lakeside Drive, also in Sanbornton, a 3,278 square foot, four bedroom, three and a half bath contemporary built in 1999 also found a new owner. This high quality home has an open concept main level with a great room with hardwood floors, gas fireplace, built-ins, and a wall of windows through which to view fantastic lake views. Other features include a gourmet kitchen with center island and granite counters, a four season porch, and a second floor dedicated to a sumptuous master suite that includes a wonderful deck overlooking the water. The home sits on a .16 acre lot with 60’ of frontage, a shorefront deck, and dock. This property was listed last year at $799,000 and this year at $789,000 with an offer consummated at $740,000. The current tax assessed value of this property is $645,100.

Right now there are over 200 waterfront properties for sale on Winnipesaukee and Winnisquam with potential bargains in all price ranges. Maybe you should think about buying your wife a place on the lake for Christmas and hope that Santa brings you that new boat you’ve always wanted!

Data was compiled as of 11/15/12 using the Northern New England Real Estate MLS System

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