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Old 10-12-2020, 04:31 AM   #1
thinkxingu
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Default Housing Market (& Mea Culpa)

I apologize if I grenaded the other housing market thread (it's locked now). I messaged the Webmaster asking him to delete my comment and reopen it, as I thought it was a fine thread, but I've not heard back.


Anyway: does anybody know roughly how many homes are typically on the market in a given area in fall? Someone mentioned there's only one in Wolfeboro—for $1M or something—but I don't think there's ever a lot of inventory at this time?

I know for Arcadia that almost all sales are completed by August and don't really resume until late winter/early spring, but I'm wondering if that's simply because we're a seasonal place.

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Old 10-12-2020, 04:57 AM   #2
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Are you thinking of the one that is for sale for $10 million in Wolfeboro?
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Old 10-12-2020, 05:48 AM   #3
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Are you thinking of the one that is for sale for $10 million in Wolfeboro?
I thought there was one for $1M, too, but maybe. A quick run-through of realtor.com just now is a series of "pending" with only a few "new."

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Old 10-12-2020, 06:32 AM   #4
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There are about 30 listed on Zillow right now, from about $80K to the $10M one
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Old 10-12-2020, 06:41 AM   #5
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Originally Posted by Paugus Bay Resident View Post
There are about 30 listed on Zillow right now, from about $80K to the $10M one
80k or 800k? I’m sure there’s not much in Wolfeboro for 80 K.


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Old 10-12-2020, 06:56 AM   #6
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80k or 800k? I’m sure there’s not much in Wolfeboro for 80 K.


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Land?

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Old 10-12-2020, 07:01 AM   #7
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Land?

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Could be good point.


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Old 10-12-2020, 07:13 AM   #8
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Land?

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It’s a small trailer.
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Old 10-12-2020, 07:17 AM   #9
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last I looked only 1 Winni waterfront listing and its 10 million. I would guess its pretty tight off the water as well but I have never seen literally no inventory on water.
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Old 10-12-2020, 07:18 AM   #10
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It’s a small trailer.
Thanks! I was gonna look but was torn between a son asking about his Halloween costume, a daughter asking about making French toast, and a book I had 20 pages left in. The book won!

I happened to talk to a few people yesterday, and two couples mentioned they had friends lined up for places if they could only find them. I'll be interested to see if the market slows down in the off-season or if limited options will keep it hot. A crazy year, for sure.

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Old 10-12-2020, 07:28 AM   #11
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I feel very fortunate that I bought 6 years ago.
This year esp, its been a great escape from the city.
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Old 10-12-2020, 07:59 AM   #12
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Just had seen an add on a winnipesaukee Facebook page by a broker looking for homes in the 1M range for a client in the wolfboro area.


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Old 10-12-2020, 08:02 AM   #13
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Zillow shows about 125 “waterfront” properties for sale around all the lakes. That might include ponds and rivers.

I don’t know what’s normal. Many over priced. Many have been listed for a good while.
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Old 10-12-2020, 01:32 PM   #14
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Default Land

In addition to the 30 homes mentioned, there appear to be 28 land listings in and around Wolfboro.

Most expensive building lot is a little over an acre/100 ft waterfront on Crescent for 495K
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Old 10-13-2020, 05:29 AM   #15
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Question Transform in 15 Years...

The $10M house is on Wolfeboro Neck--facing the Broads. At the time if its construction, it was a strange apparition built on the prior "nestled-cottage" 50-foot "footprint", maybe a decade ago.

Quote:
Originally Posted by thinkxingu View Post
I apologize if I grenaded the other housing market thread (it's locked now). I messaged the Webmaster asking him to delete my comment and reopen it, as I thought it was a fine thread, but I've not heard back. Anyway: does anybody know roughly how many homes are typically on the market in a given area in fall? Someone mentioned there's only one in Wolfeboro—for $1M or something—but I don't think there's ever a lot of inventory at this time? I know for Arcadia that almost all sales are completed by August and don't really resume until late winter/early spring, but I'm wondering if that's simply because we're a seasonal place.
You would be hard-pressed to indoctrinate these readers.
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Old 10-13-2020, 06:25 AM   #16
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Quote:
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I feel very fortunate that I bought 6 years ago.
This year esp, its been a great escape from the city.
Hence, the price appreciation.
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Old 10-27-2020, 04:21 PM   #17
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A house across the street from me on Lake Waukewan in Meredith that sold in Feb for 715K and used as a AIR B&B, just went on the market for 1.15 Million.
They have made no improvements to the property at all so that would be a hell of a profit for 8 months ownership if it sells.
I hope they get it because anyone that is willing to pay that for it will most likely use it for themselves.
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Old 10-27-2020, 04:26 PM   #18
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Quote:
Originally Posted by Biggd View Post
A house across the street from me on Lake Waukewan that sold in Feb for 715K and used as a AIR B&B, just went on the market for 1.15 Million.
They have made no improvements to the property at all so that would be a hell of a profit for 8 months ownership if it sells.
I hope they get it because anyone that is willing to pay that for it will most likely use it for themselves.
Never going to get that price. I keep tabs on the market in Laconia and Meredith. It is starting to slow down a bit and asking prices have been dropping. Check out Realtor.com or Zillow i the range of 700k-2M


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Old 10-27-2020, 04:47 PM   #19
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Originally Posted by joey2665 View Post
Never going to get that price. I keep tabs on the market in Laconia and Meredith. It is starting to slow down a bit and asking prices have been dropping. Check out Realtor.com or Zillow i the range of 700k-2M


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They are obviously just fishing but I could see it selling in the 9's, still would be a tremendous profit for 8 months esp sinse it was bought as an investment property.
The A frame directly across the street from me sold a few months ago at 550K and is going through a complete gut job rebuild. By the time she is through she will have close to a million in it and it's still an A frame.
Some crazy people out there!
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Old 10-27-2020, 05:43 PM   #20
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Quote:
Originally Posted by Biggd View Post
They are obviously just fishing but I could see it selling in the 9's, still would be a tremendous profit for 8 months esp sinse it was bought as an investment property.
The A frame directly across the street from me sold a few months ago at 550K and is going through a complete gut job rebuild. By the time she is through she will have close to a million in it and it's still an A frame.
Some crazy people out there!
Unless you plan on staying for a very long time and getting the use out of the home, over investing in a property is a bad financial move.


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Old 10-27-2020, 05:53 PM   #21
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Oh, I agree but some people just have too much money. The A frame should have been torn down but builders were telling her it would take 2 years to get her in a newly built home on that lot. She just didn't want to wait that long.
I was going to buy the A frame and rent it out but my wife said no. I never would have done what she is doing to it.
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Unless you plan on staying for a very long time and getting the use out of the home, over investing in a property is a bad financial move.


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Old 10-27-2020, 06:45 PM   #22
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Quote:
Originally Posted by joey2665 View Post
Unless you plan on staying for a very long time and getting the use out of the home, over investing in a property is a bad financial move.


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Yes, I agree. Look at all those folks who purchased in 2007. It took them almost 10 years before they could possibly break even.....
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Old 10-27-2020, 09:09 PM   #23
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Default Capital gains?

I'm not a tax guy, but I can see buying AMZN a couple of years ago at $850 and spending some weeks at a vacation "rental", later sold at a loss. Shore front vacation property is a commodity, like any other.
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Old 10-27-2020, 09:20 PM   #24
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I'm not a tax guy, but I can see buying AMZN a couple of years ago at $850 and spending some weeks at a vacation "rental", later sold at a loss. Shore front vacation property is a commodity, like any other.
True but even in a great location you can overbuild and or overspend


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Old 10-28-2020, 02:33 AM   #25
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Arrow We're Facing Rapid Eutrofication...

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True but even in a great location you can overbuild and or overspend
We will ALL have "overspent" if the lake goes kerpluey...
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