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Originally Posted by Irish mist
This is a difficult question......and this is JMO, so take it for what it's worth. For the first time in my memory prices in central NH have not gone down as fast as they have in the greater Boston area, or Massachusetts in general. In the past a vacation area like the lakes Region really would suffer much more than the rest of the state, and especially Boston. I'm guessing we are down about 5% in value whereas Boston is close to 15% down.
This real estate slow-down started in about May 2005, and I suspect we are about half way through it. So if you wait a while longer to purchase real estate I suspect it will not hurt you. And will perhaps drop another 5% or so.
What's changed in the Lakes Region from the past is that the baby-boomers are starting to retire, and this area has become a prime retirement place. Many people that would have gone to Florida in the past are having second thoughts because of the taxes & the horrible house insurance situation that has developed down there.
I think that in 2 or 3 years from now prices are going to start going up again......fast ! BTW I'm not involved in the real estate industry, lol. I just have an interest in this subject. I would love to read some thoughts from local real estate pros on what they think the future of the central NH real estate market is  |
I think you are right. I have rental properties in Florida and the taxes have gone through the roof. In the past 5 years they have pretty much tripled. In addition, all the insurance companies are pulling out of Florida; we are now insured out of the state pool. The issue is that the rates are quite high.
In addition, when it is too dry there are sink holes (one on our neighbor's property that is about 90 feet deep). When it is too wet...hurricanes and wind issues.
I am becoming pretty jaded on Florida and seriously thinking about selling off my properties. New Hampshire is a much better option IMHO.
Jetskier
