Can We Live On Winni for $450k?

thinkxingu · 09-05-2017, 03:02 PM

Quote:

Originally Posted by PeterG

That's a good point. It's a beautiful spot, but I can see how teens would prefer the southern end of the lake.

No offense, fellas, but buying a half million home for a couple kids who will most likely moving on--at least for a while--in a few years? And how much in the south is better for teens? The Weirs? Traffic?!

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winni83 · 09-05-2017, 03:30 PM

Each area of the Lake has its own advantages and disadvantages. We bought a small house in the far northern part of the Lake in 1983 when our kids were 9 and 6. Never had an issue with the kids wishing they were in an area with more "action". In fact, they never wanted to go back to our main house. Now the same thing is true with our grandchildren, the oldest of whom is 14. A few years ago we tore down the house, build a new house, sold the main house and moved up to the same old spot permanently. When making that decision, we thought long and hard about selling the existing Lake house and looking elsewhere on the Lake but it was a pretty easy decision to stay put.

FlyingScot · 09-05-2017, 04:01 PM

Quote:

Originally Posted by thinkxingu

No offense, fellas, but buying a half million home for a couple kids who will most likely moving on--at least for a while--in a few years? And how much in the south is better for teens? The Weirs? Traffic?!

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No offense taken. I prefer the north myself, but I'm pretty sure I'm in the minority. When we were in the market to buy (2014-15), the southern places were definitely more expensive on an apples to apples basis. Our (excellent) real estate agent explained that most people liked to be near the Broads and restaurants.

shard77 · 09-06-2017, 02:36 PM

My wife and I bought a house in Moultonborough in 2010 for quite a bit under your budget. It was built in 2007, has 3.5 baths, 3 bedrooms, and a finished basement.

We live across the street from the lake. No water views due to trees and have an access to the lake via a town-owned easement (Enough to walk down to the water, but that's about it). A smaller, older house up the street that is on the water sold for about $900K last year so that gives you an idea of what water front/water views add to the price.

Bottom line, if you're willing to give up the water front/water views, I think you could find something near the water that would work in your price range.

FYI - taxes are great in Moultonborough.

Descant · 09-06-2017, 04:02 PM

Looking at the tax card for the property in question indicates that almost all the value is in the land, $74K for the buildings The total assessed value has been declining for the last three years in a market that is growing. It appears the current owner paid $520K in 2007 just before the RE market crashed, along with the rest of the economy. She put the property into a new trust less than a year ago. I'm not a tax person, but I wonder if the new trust allows a better tax deal for taking a loss on the sale of the property?

For the septic discussion. A non-compliant system is "grandfathered" until it fa-fails, then it has to be brought up to code. Banks have different approaches to this. DES will allow some exceptions in the new design/build so that somebody isn't thrown out of their home. Some RE Agents do not cross check, but sometimes a seller will insist that a home be listed as 3 BR or some other feature. When the house is appraised for a mortgage, the appraiser will definitely check BR with Septic design. And the RE Agent can tell the seller "I told you so." If they don't match, the bank will not write the loan or will perhaps require new system upgrades as part of the deal.

If you go back a couple of sales, you'll see that GEM Realty Trust was an owner, looks like twice.. If you Google GEW Realty Trust, you get:
GEM Realty Trust v. First N/B, Boston CV-93-606-SD 05/18/95
http://www.nhd.uscourts.gov/sites/de...95/95SD044.pdf

Verrry interesting...

09-06-2017, 04:02 PM	#5
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,365 Thanks: 1,351 Thanked 1,624 Times in 1,056 Posts	Where's the value? Looking at the tax card for the property in question indicates that almost all the value is in the land, $74K for the buildings The total assessed value has been declining for the last three years in a market that is growing. It appears the current owner paid $520K in 2007 just before the RE market crashed, along with the rest of the economy. She put the property into a new trust less than a year ago. I'm not a tax person, but I wonder if the new trust allows a better tax deal for taking a loss on the sale of the property? For the septic discussion. A non-compliant system is "grandfathered" until it fa-fails, then it has to be brought up to code. Banks have different approaches to this. DES will allow some exceptions in the new design/build so that somebody isn't thrown out of their home. Some RE Agents do not cross check, but sometimes a seller will insist that a home be listed as 3 BR or some other feature. When the house is appraised for a mortgage, the appraiser will definitely check BR with Septic design. And the RE Agent can tell the seller "I told you so." If they don't match, the bank will not write the loan or will perhaps require new system upgrades as part of the deal. If you go back a couple of sales, you'll see that GEM Realty Trust was an owner, looks like twice.. If you Google GEW Realty Trust, you get: GEM Realty Trust v. First N/B, Boston CV-93-606-SD 05/18/95 http://www.nhd.uscourts.gov/sites/de...95/95SD044.pdf Verrry interesting...

09-05-2017, 03:30 PM	#2
winni83 Senior Member Join Date: Nov 2009 Location: Moultonborough, NH Posts: 430 Thanks: 17 Thanked 213 Times in 135 Posts	Each area of the Lake has its own advantages and disadvantages. We bought a small house in the far northern part of the Lake in 1983 when our kids were 9 and 6. Never had an issue with the kids wishing they were in an area with more "action". In fact, they never wanted to go back to our main house. Now the same thing is true with our grandchildren, the oldest of whom is 14. A few years ago we tore down the house, build a new house, sold the main house and moved up to the same old spot permanently. When making that decision, we thought long and hard about selling the existing Lake house and looking elsewhere on the Lake but it was a pretty easy decision to stay put.

09-06-2017, 02:36 PM	#4
shard77 Junior Member Join Date: Aug 2011 Posts: 5 Thanks: 7 Thanked 3 Times in 1 Post	My wife and I bought a house in Moultonborough in 2010 for quite a bit under your budget. It was built in 2007, has 3.5 baths, 3 bedrooms, and a finished basement. We live across the street from the lake. No water views due to trees and have an access to the lake via a town-owned easement (Enough to walk down to the water, but that's about it). A smaller, older house up the street that is on the water sold for about $900K last year so that gives you an idea of what water front/water views add to the price. Bottom line, if you're willing to give up the water front/water views, I think you could find something near the water that would work in your price range. FYI - taxes are great in Moultonborough.