What makes this a $595k property on Lake Winni?

JasonG · 08-07-2013, 04:16 PM

I will preface this by saying I mean no disrespect to the community. But what makes this worth $595k? http://www.meredithbaynh.com/content...enic-rd-unit-2

It's a 2 bed townhouse that is up the hill from the water. Shared beach/dock that you have to hike too.

I realize it is a nice new development. But can you not get something right on the water for 600k that is half decent?

What am I missing?

brk-lnt · 08-07-2013, 04:30 PM

Honestly, the price seems reasonable to me. There are units in South Down that have similar views and architectural design and square footage going for about the same price, and are 5-10 years older.

Can you find water front spots cheaper? Probably. Just like you can find others for more money and everything in between.

I think some people like being in new construction, and/or close or distant from various things. Ultimately, the market will decide what these are worth.

jmen24 · 08-07-2013, 04:38 PM

I agree with brk-Int, research Indian Cave Landing on Lake Sunapee and you will see something very similar as far as pricing. The difference being that you can't walk to the marina, one person has to drive around the harbor to get the boat and then they can pick up the passengers off Lake Ave at their private landing. The higher up the hill you go, the more money they are.
The company I work for built the top 6 units at overlook at indian cave and one just sold a few years ago for just under $900K. Granted those are stand alone condos and are much bigger in overall size, about 3500sf.

Oh yeah, there is no beach, but they do have a pool and tennis courts!

HellRaZoR004 · 08-07-2013, 04:39 PM

Don't forget the association fee of near $4500 a year! Then you have taxes on top of that. Not my idea of fun.

MAXUM · 08-07-2013, 05:07 PM

Don't forget the gate and guard house (is that REALLY necessary?), I mean really can the place be any more ostentatious and snobby? You can keep it, I'll take my island oasis any day at a fraction of the price.

pjard · 08-07-2013, 05:33 PM

What makes it worth $595K is that somebody will pay $595K...that's how real estate works. I agree there are probably equal or better "values" out there buy my opinion doesn't matter.

BroadHopper · 08-07-2013, 08:22 PM

Most of the new units in the past few years are not built well. Its a good thing the state force builders to warrantee the home for a year. I'd rather buy an older home.

One owner over at Tuftonboro did not like the homes built by 'reputable' builders in the area. He ended up having a house built in sections in Canada shipped and assembled by someone from VT. The building comes with a 10 year HOW warrantee. What is amazing is the price per sq. ft. is comparable to a stick built by a high end contractor. All the materials are best of the best. I've seen the blueprints which took years to put together by various architects.

What is taking so long is the building approval by the town. Something about whether it should be classified as a manufactured home and the site is not approved for one. Building codes are also different for manufactured homes. The building should be under different building codes. WOW!

Lakesrider · 08-07-2013, 08:24 PM

It's because they have a "Mothly" Association.....So you have to pay the moths or your clothes will get holes in them....A protection payment if you will....

brk-lnt · 08-07-2013, 08:51 PM

Quote:

Originally Posted by MAXUM

Don't forget the gate and guard house (is that REALLY necessary?), I mean really can the place be any more ostentatious and snobby? You can keep it, I'll take my island oasis any day at a fraction of the price.

These condos are not behind any gate or guardhouse, I'm guessing you're confusing them as being inside part of the Meredith Bay area?

Anyway, personally I like the "guardhouse" idea for a vacation home. It helps to cut down on casual drive-bys and access to properties that are unoccupied the majority of the time.

Island properties are cool, but for me I like to be able to use our lake place year-round and not deal with septic systems and lack of access to utilities (eg: power and internet that can be problematic on some island properties).

It's cool if it's not for you, it takes all kinds.

MAXUM · 08-07-2013, 09:01 PM

Quote:

Originally Posted by brk-lnt

These condos are not behind any gate or guardhouse, I'm guessing you're confusing them as being inside part of the Meredith Bay area?

Anyway, personally I like the "guardhouse" idea for a vacation home. It helps to cut down on casual drive-bys and access to properties that are unoccupied the majority of the time.

Island properties are cool, but for me I like to be able to use our lake place year-round and not deal with septic systems and lack of access to utilities (eg: power and internet that can be problematic on some island properties).

It's cool if it's not for you, it takes all kinds.

Could be, there are a bunch of houses up there on the hill near the end of Meredith bay, I thought those condos were part of it since they are in the same area. Maybe not, but I think it's a bit silly to gate the road. If anyone is going to be up to no good, a gate and rent a cop isn't going to stop 'em. Just sayin false sense of security.

Janet · 08-08-2013, 05:06 AM

Isn't this where Look Off Rock Motel use to be?

pjard · 08-10-2013, 07:13 PM

These units are just north of Weirs Beach, right past Akwa Marina.

gf2020 · 08-11-2013, 06:35 PM

My family looked at these condos on Saturday the 3rd on a whim. They are well beyond our price range but I didn't think the price was too out of line for what you get. The condo fee and steep Laconia taxes, however, push the expense even further.

There really isn't anything comparable on the market right now. Units at South Down are older and further from the water, same for Grouse Point, and there is nothing currently for sale there anyways.

Yes, you can purchase a conventional single family home in a shared water access community for that price and there are a few waterfront homes in the sub-$600K range available around the lake, but they are all older, smaller and need updating.

These units are selling pretty well, so the developers must be on to something!

fatlazyless · 08-11-2013, 07:21 PM

And, they www.meredithbaynh.com (located in the City of Laconia........pssstttt......shhhhhhush!) are built just up the steep tree-wooded hill overlooking Lake Winnipesaukee and the www.wowtrail.org down below, which will be a 10-foot wide, asphalt bicycle and pedestrian trail, once it gets built, plus the existing single railroad track that is used in the summer and fall by the Winnipesaukee Railroad. So, depending on how you view the Wow Trail ..... that could be either good or bad .......for most, it will probably be good; once the Wow Trail is a completed nine mile long, bicycle & pedestrian trail which follows the Winnipesaukee shoreline from Meredith to The Weirs to just behind the www.laconialibrary.org in Laconia......you could ride your bike from the condo to the Gale Library to peruse their freebie, $600/year, Value Line Investment Survey and plan your retirement IRA!

Hey....at least those big Laconia prop taxes are being spent on one item that might be usefull to a Meredith Bay condo owner....the Value Line.....something that the Meredith Library does not get and the Laconia Library gets it! Laconia; a mecca for bicycle travel and investment planning.........and......oh yeah.......motorcycles! Just imagine riding a bicycle to Bike Week www.laconiamcweek.com from Meredith via the Wow Trail!

Anyone know what the Laconia property taxes are for these $595,000 condos and what are they assessed? I know the commercially zoned victorian house at 1061 Union Ave, formerly Dewhurst Funeral Home, was sold on January 18, 2013 for $128,500, and since then the City of Laconia has re-assessed it to down from $490,600 down to $260,700....it was purchased in January for 128,500 and it is now for sale at $250,000 so go figure how much these newly constructed, Winnipesaukee view, condos get assessed?

The high school http://www2.laconiaschools.org/lhs/ is getting major renovations this summer, including new renovations throughout the very aged, olde high school building, plus a new football field out back with spectator stands, and a new vocational ed-technical school building out front; so where does the money for the high school come from ........ no, NOTHING from the State of New Hampshire in Concord.......that's for danged sure! It comes from the Laconia property tax.

Do I know what I am talking about here ....maybe not.....so please correct me if I am incorrect!

dpg · 08-13-2013, 11:36 AM

If that place was in my town in Mass it would fetch 1.2 million, with water views no where in sight.

08-07-2013, 04:16 PM	#1
JasonG Senior Member Join Date: May 2006 Posts: 310 Thanks: 48 Thanked 45 Times in 33 Posts	What makes this a $595k property on Lake Winni? I will preface this by saying I mean no disrespect to the community. But what makes this worth $595k? http://www.meredithbaynh.com/content...enic-rd-unit-2 It's a 2 bed townhouse that is up the hill from the water. Shared beach/dock that you have to hike too. I realize it is a nice new development. But can you not get something right on the water for 600k that is half decent? What am I missing?

08-07-2013, 04:30 PM	#2
brk-lnt Senior Member Join Date: Aug 2007 Location: South Down Shores Posts: 1,944 Thanks: 545 Thanked 570 Times in 335 Posts	Honestly, the price seems reasonable to me. There are units in South Down that have similar views and architectural design and square footage going for about the same price, and are 5-10 years older. Can you find water front spots cheaper? Probably. Just like you can find others for more money and everything in between. I think some people like being in new construction, and/or close or distant from various things. Ultimately, the market will decide what these are worth. __________________ [insert witty phrase here]

08-07-2013, 08:22 PM	#7
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,615 Thanks: 3,245 Thanked 1,115 Times in 801 Posts	Shoddy construction Most of the new units in the past few years are not built well. Its a good thing the state force builders to warrantee the home for a year. I'd rather buy an older home. One owner over at Tuftonboro did not like the homes built by 'reputable' builders in the area. He ended up having a house built in sections in Canada shipped and assembled by someone from VT. The building comes with a 10 year HOW warrantee. What is amazing is the price per sq. ft. is comparable to a stick built by a high end contractor. All the materials are best of the best. I've seen the blueprints which took years to put together by various architects. What is taking so long is the building approval by the town. Something about whether it should be classified as a manufactured home and the site is not approved for one. Building codes are also different for manufactured homes. The building should be under different building codes. WOW! __________________ Someday may never be an actual day.

08-11-2013, 07:21 PM	#14
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,947 Blog Entries: 1 Thanks: 307 Thanked 1,058 Times in 771 Posts	And, they www.meredithbaynh.com (located in the City of Laconia........pssstttt......shhhhhhush!) are built just up the steep tree-wooded hill overlooking Lake Winnipesaukee and the www.wowtrail.org down below, which will be a 10-foot wide, asphalt bicycle and pedestrian trail, once it gets built, plus the existing single railroad track that is used in the summer and fall by the Winnipesaukee Railroad. So, depending on how you view the Wow Trail ..... that could be either good or bad .......for most, it will probably be good; once the Wow Trail is a completed nine mile long, bicycle & pedestrian trail which follows the Winnipesaukee shoreline from Meredith to The Weirs to just behind the www.laconialibrary.org in Laconia......you could ride your bike from the condo to the Gale Library to peruse their freebie, $600/year, Value Line Investment Survey and plan your retirement IRA! Hey....at least those big Laconia prop taxes are being spent on one item that might be usefull to a Meredith Bay condo owner....the Value Line.....something that the Meredith Library does not get and the Laconia Library gets it! Laconia; a mecca for bicycle travel and investment planning.........and......oh yeah.......motorcycles! Just imagine riding a bicycle to Bike Week www.laconiamcweek.com from Meredith via the Wow Trail! Anyone know what the Laconia property taxes are for these $595,000 condos and what are they assessed? I know the commercially zoned victorian house at 1061 Union Ave, formerly Dewhurst Funeral Home, was sold on January 18, 2013 for $128,500, and since then the City of Laconia has re-assessed it to down from $490,600 down to $260,700....it was purchased in January for 128,500 and it is now for sale at $250,000 so go figure how much these newly constructed, Winnipesaukee view, condos get assessed? The high school http://www2.laconiaschools.org/lhs/ is getting major renovations this summer, including new renovations throughout the very aged, olde high school building, plus a new football field out back with spectator stands, and a new vocational ed-technical school building out front; so where does the money for the high school come from ........ no, NOTHING from the State of New Hampshire in Concord.......that's for danged sure! It comes from the Laconia property tax. Do I know what I am talking about here ....maybe not.....so please correct me if I am incorrect! __________________ .... Banned for life from local thrift store! Last edited by fatlazyless; 08-11-2013 at 08:36 PM.

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08-07-2013, 04:38 PM	#3
jmen24 Senior Member Join Date: Feb 2009 Posts: 1,139 Thanks: 223 Thanked 319 Times in 181 Posts	I agree with brk-Int, research Indian Cave Landing on Lake Sunapee and you will see something very similar as far as pricing. The difference being that you can't walk to the marina, one person has to drive around the harbor to get the boat and then they can pick up the passengers off Lake Ave at their private landing. The higher up the hill you go, the more money they are. The company I work for built the top 6 units at overlook at indian cave and one just sold a few years ago for just under $900K. Granted those are stand alone condos and are much bigger in overall size, about 3500sf. Oh yeah, there is no beach, but they do have a pool and tennis courts!

08-07-2013, 04:39 PM	#4
HellRaZoR004 Senior Member Join Date: May 2012 Location: Litchfield/Gilford Posts: 828 Thanks: 233 Thanked 224 Times in 131 Posts	Don't forget the association fee of near $4500 a year! Then you have taxes on top of that. Not my idea of fun.

08-07-2013, 05:07 PM	#5
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 246 Thanked 1,942 Times in 802 Posts	Don't forget the gate and guard house (is that REALLY necessary?), I mean really can the place be any more ostentatious and snobby? You can keep it, I'll take my island oasis any day at a fraction of the price.

08-07-2013, 05:33 PM	#6
pjard Senior Member Join Date: Aug 2002 Location: Gilford, NH Posts: 645 Thanks: 515 Thanked 195 Times in 102 Posts	What makes it worth $595K is that somebody will pay $595K...that's how real estate works. I agree there are probably equal or better "values" out there buy my opinion doesn't matter.

08-07-2013, 08:24 PM	#8
Lakesrider Senior Member Join Date: Jun 2007 Posts: 2,129 Thanks: 380 Thanked 1,016 Times in 345 Posts	It's because they have a "Mothly" Association.....So you have to pay the moths or your clothes will get holes in them....A protection payment if you will....

08-08-2013, 05:06 AM	#11
Janet Senior Member Join Date: Apr 2004 Location: Texas Posts: 470 Thanks: 234 Thanked 134 Times in 91 Posts	Isn't this where Look Off Rock Motel use to be?

08-10-2013, 07:13 PM	#12
pjard Senior Member Join Date: Aug 2002 Location: Gilford, NH Posts: 645 Thanks: 515 Thanked 195 Times in 102 Posts	These units are just north of Weirs Beach, right past Akwa Marina.

08-11-2013, 06:35 PM	#13
gf2020 Senior Member Join Date: Feb 2009 Location: North of Boston Posts: 203 Thanks: 11 Thanked 35 Times in 28 Posts	My family looked at these condos on Saturday the 3rd on a whim. They are well beyond our price range but I didn't think the price was too out of line for what you get. The condo fee and steep Laconia taxes, however, push the expense even further. There really isn't anything comparable on the market right now. Units at South Down are older and further from the water, same for Grouse Point, and there is nothing currently for sale there anyways. Yes, you can purchase a conventional single family home in a shared water access community for that price and there are a few waterfront homes in the sub-$600K range available around the lake, but they are all older, smaller and need updating. These units are selling pretty well, so the developers must be on to something!

08-13-2013, 11:36 AM	#15
dpg Senior Member Join Date: Apr 2004 Posts: 2,619 Thanks: 157 Thanked 235 Times in 172 Posts	If that place was in my town in Mass it would fetch 1.2 million, with water views no where in sight.