Quote:
Originally Posted by gf2020
New guy chiming in here.
The Winnipesaukee market is really just a delayed reflection of the Greater Boston and Southern New England market, which is where the vast majority of the buyers come from. As the economy continues to improve in those regions, an upswing will occur in resort area property as well.
I started looking at land for sale in the Meredith area earlier this summer. I can't afford waterfront but I would like to be in a neighborhood that has common waterfront access or at the very least decent proximity to public access. The parcels that I am considering here (and in the Bridgton, Maine area too) are definitely priced less than similar parcels sold for as recently as 2 years ago.
What's interesting to me as a potential buyer is that there is not a lot of rhyme or reason to what drives the asking price for some of these pieces of land. It's like the seller and their realtor just made something up to see if it would fly. I guess if they figure that nothing is selling anyways and they don't really need to sell, then what do they have to lose. I'm talking about some lots that have been on the market for over a year with no or very little price adjustment.
I have done my homework and the lots that I am interested in are owned by people who have owned them for several years. Even at today's lower prices they are still making money over their original investment.
Now if my wife and I could just make up our minds what we want to do!
|
You are absolutely correct about the huge discrepancies regarding asking prices. There are owners (and realtors willing to go along with them) who want to believe that the marketplace has returned to the inflated levels of 2006. This is obviously not the case and results in almost a two tier market - those who don't have to sell and price their properties unrealistically versus those sellers who are truly interested in selling and price their properties in line with present conditions.
This situation causes people, including realtors, to misinterpret the present increse in inventory. Yes, there has been an increase but it is not as huge as people think if you back out the newly listed properties that are ridiculously overpriced.
Good luck on your search, hopefully your patience and thoroughness will be rewarded.