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Lakes Region Real Estate Market Report - Home Bargains in October

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Posted 10-05-2012 at 03:00 PM by Roy Sanborn

As of October 1, 2012 there were 1,230 residential homes available in the Lakes Region communities covered by this Lakes Region Real Estate Market report. The average asking price stood at $486,117 and the median price point was $259,450. The inventory level is down from 1,351 homes for sale last month and the 1,336 available last October. The average asking price has also softened from $518,193 last October down to $486,117. The median price point has also dropped about $5,000 from last October as well. The 1,230 homes on the market represent about a 16.4 month’s worth supply of property at the current sales rate. That’s still not great, but better than where we have been!

It’s time to take a look at some of the newer listings that might just possibly be a good deal based on the assessed value compared to the asking price. The only way to tell if a property is a good deal is by going out to take a look at the property, but at least this is a good place to start.



There is a three bedroom, one bath, post and beam cape with 1,600 square feet of living space that has just come on the market at 141 Country Club Road in Gilford. This is a bank owned property and it was built a while ago, actually in 1800, but it has been totally renovated according to the listing sheet. It has new vinyl siding, wiring, and a septic system instead of the outhouse it had way back when! There is a nice fireplace, cathedral ceilings, and wainscoting in the living room. The pictures make the place look pretty nice, but hey, you have to check it out in person as pictures can be deceiving. Anyway, the house sits on a 1.18 acre level lot across from Pheasant Ridge Country Club. The home is listed for $142,500 and is assessed for $191,700. Maybe you could get a discount on the green fees?



An absolutely great deal can be had at 11 Wakeman Road in Belmont. This one owner, 1, 596 square foot, four bedroom, two bath, water access home was built in 2002 and is in like-new condition. There are two bedrooms on the main level, two upstairs, a family room in the walkout lower level, and a one car garage under. This is a low maintenance home with vinyl siding and a nicely landscaped yard. This property is priced well below the tax assessed value of $219,400 at only $187,000. This home is a no-brainer.



Over at 300 Pine Street in Laconia is a three bedroom, two bath, 1,296 square foot raised ranch that was built in 2001 on a .26 acre lot. This home is bank owned but should be new enough so as not to have too many issues. From the pictures you can see it has hard wood flooring, a large kitchen, a two car garage under, and an in-ground pool with a large patio area. It is on the market at $194,500 and is assessed for $208,800. This could be a winner…



Up in the acres in Gilford at 44 Deer Run Lane is a 2,500 square foot, ten room, three bed, three bath, contemporary home that was built in 2005. This is also a bank owned home. It has some nice features including stainless steel appliances, tiled foyer, exterior stone façade, a huge family room with cathedral ceiling and gas fireplace, and a master suite. As with all bank owned properties, it is being sold "as is," but it is represented as having been well maintained. This home is on the market for $197,010 (what do you think the $10.00 is for?) and is assessed at $265,810. Good deal?

Anyway, this is just a few of the potential deals out there among those 1,200 homes that are available right now. Call your REALTOR® and have him set up some showings. It is a great time to buy!


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