Increased Year-Round Population?

[SAB1]

The world is so different from what it once was even back in 2008. Heck look at the stock market. Five months ago when this pandemic started I don’t think anyone would have projected it to at 28,000 where it is now. Nothing makes much sense. The thing fueling real estate thru this whole upswing for the past decade Has a lot to do with interest rates. Money in cheap. Is there a correction coming. Yup soon as that interest rate gets back up 6-7%. But who knows when that comes. By in large homes on the water suffer much less. People always want the water.

[joey2665]

Originally Posted by SAB1

The world is so different from what it once was even back in 2008. Heck look at the stock market. Five months ago when this pandemic started I don’t think anyone would have projected it to at 28,000 where it is now. Nothing makes much sense. The thing fueling real estate thru this whole upswing for the past decade Has a lot to do with interest rates. Money in cheap. Is there a correction coming. Yup soon as that interest rate gets back up 6-7%. But who knows when that comes. By in large homes on the water suffer much less. People always want the water.

I even if the rates go up to 6-7% I do not believe there will be a significant correction (over 10%). The real estate market would slow down but it would be nothing like 2008. Only an unpredictable outside influence would cause a significant correction such as what happened in 2008.


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[Biggd]

Originally Posted by SAB1

The world is so different from what it once was even back in 2008. Heck look at the stock market. Five months ago when this pandemic started I don’t think anyone would have projected it to at 28,000 where it is now. Nothing makes much sense. The thing fueling real estate thru this whole upswing for the past decade Has a lot to do with interest rates. Money in cheap. Is there a correction coming. Yup soon as that interest rate gets back up 6-7%. But who knows when that comes. By in large homes on the water suffer much less. People always want the water.

The stock market has been boosted by gambling day traders. With no sporting events to gamble on gamblers have turned to day trading. A gambler has to get his fix somewhere.
On a side note, I just got my new assessment from the town of Meredith in the mail yesterday, up almost 18%!

[map]

To me a house is a home. I could care less about appreciation or depreciation as long as I can afford to live in it that’s all that matters to me. A home is part of my skin. A place of respite and for family and friends and memories.

I am trying to make our new house here in N.H. my “home” after leaving our family home in NY behind. It’s going to take awhile I see.

[Biggd]

Originally Posted by map

To me a house is a home. I could care less about appreciation or depreciation as long as I can afford to live in it that’s all that matters to me. A home is part of my skin. A place of respite and for family and friends and memories.

I am trying to make our new house here in N.H. my “home” after leaving our family home in NY behind. It’s going to take awhile I see.

That is true but no one wants to see the value of the home drop like a rock. That being said, if you're there for the long haul it always comes back.

[joey2665]

Originally Posted by map

To me a house is a home. I could care less about appreciation or depreciation as long as I can afford to live in it that’s all that matters to me. A home is part of my skin. A place of respite and for family and friends and memories.

I am trying to make our new house here in N.H. my “home” after leaving our family home in NY behind. It’s going to take awhile I see.

I just did the same. Left NY officially in July and making my NH house my home. My move from NY has been planned for several years it was not a result of the pandemic or ruination of NYC by its inept Mayor although it is extremely sad to see especially since my company had helped build the city.


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[sum-r breeze]

I've seen small market corrections along the way. We bought our forever home at the lake in 2016 after multiple condos. The house was on the market for two years and no buyers. The house was only seven years old and in really good shape. We purchased for 20K under asking price. Now things are on fire and a another home on our street sold for 20K over asking.

The Breeze

[Biggd]

Originally Posted by sum-r breeze

I've seen small market corrections along the way. We bought our forever home at the lake in 2016 after multiple condos. The house was on the market for two years and no buyers. The house was only seven years old and in really good shape. We purchased for 20K under asking price. Now things are on fire and a another home on our street sold for 20K over asking.

The Breeze

I also bought back in in 2014 for 40K under list after the home had been on the market for over a year. Prices started creeping up around around 2016 but it really turned to a sellers market over the past couple years. Now things are just plain crazy!
We've seen these kind of things back home for about 6 or 7 years now but I've never seen it like this in the Lakes region and I've been coming up here for 50 years.
People are flush with cash, never seen so many cash sales.

[map]

Originally Posted by joey2665

I just did the same. Left NY officially in July and making my NH house my home. My move from NY has been planned for several years it was not a result of the pandemic or ruination of NYC by its inept Mayor although it is extremely sad to see especially since my company had helped build the city.


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I hear ya! We have also planned for years. I was forced to resign my job in 2018 At age 62 and my husband retired 12/31/2019. He is 66. That’s the date we closed on our N.H. house and we moved in February. Our 32 year old son- single and our only child- has been up in Plymouth for 10 years already. Went to college there and never came home.

Our home in Sullivan County, NY never really appreciated like you would think, though we did at least get back our remodeling costs from the past 10 years. But it was now or never to make the move. What we purchased in The Weirs compared to what we owned in NY is no contest. The NY home on 10 1/2 acres of land was so much Bigger and better, but was time to downsize. It cost us just as much for this little house as we got for our NY house. Ok- it is new construction and cookie cutter- but still...

It’s noisier, no privacy, no land, but a house and community we can age in. I can’t go through moving again. It was exhausting! And I don’t think the homes in the community I am in appreciate that much. Just judging by the few resales I have seen here.

I’m with you about the mayor (and the Governor of NY). We also had some other factors where we lived that we wanted to get away from. I hope NH can hold onto its independent and live free or die constitution.