Busy 1st Week of Jan in RE Sales

Just Sold · 01-31-2010, 11:26 AM

The first Week of January had some really big Lakes Region Sales! The region had 4 of the top 12 real estate sales in all of NH for the week of 1/4-1/8

Is the economy recovering, still bad or are the people with big money not affected by the economy?

#4 Moultonboro - 66 Iroquois Ln - $2,250,000 - No Mortgage

#5 Alton - 9 Fisher Rd (Echo Point) - $2,137,533 - No Mortgage

#6 Alton - 72 Shore Road (Roberts Cove) - $1,510,000 - No Mortggae

#12 Moultonboro - 56 Pine Needle Ln - $800,600 - No Mortgage

Of note for waterfront land

#7 New London - Pilot Road - 1 lot, 1.83 acres - 315' waterfrontage
on Lake Sunapee $1,510,000 - No Mortgage

#2 Sunapee - Lake Ave, Sunapee Lake - $2,479,733 - No Mortgage

DMAX · 01-31-2010, 12:00 PM

If your plunken down 1-2 mil. cash for a summer home I doubt they were affected and I'm sure they got plenty more.

BroadHopper · 01-31-2010, 12:08 PM

Is artificially keeping the economy going. Giving folks false signals like the Clunker bill. Folks bought cars and ended up defaulting their loans. Creating a bigger mess.

The affordable homes bill is turning govt backed mortgages into 2 to 4% mortgages. Even to folks who don't have jobs and folks who have second homes. I can't imagine the false security that will bring.

Homes may be selling but the overall cost of homes are 10% less than last year. Lots of folks finds theit mortgage are worth more than their homes and are short selling or walking away.

Good for the realtors but on the long run the consumers suffers

lawn psycho · 01-31-2010, 02:04 PM

How do individuals pay for it?

I'll bet if you got the owners names and looked up stock sales that will explain some of it. If you invested last winter you are sitting pretty right now.

Rinkerfam · 01-31-2010, 09:26 PM

I have a friend who has a real estate appraisal business. He has done quite a bit of work in the lakes region over the years. I think his observations pretty much sum it up...There will always be folks that have money.

secondcurve · 01-31-2010, 09:40 PM

Just Sold:

On average, how far have the prices of waterfront homes fallen? 15-20%? Are you of the opinion that we are on the bottom, started-upward??? It should be an interesting spring.

townsde · 02-01-2010, 08:41 AM

In my opinion this is a good time to buy if you like Winnipesaukee and want to enjoy it for a few years. There is also the likely hood that you will make a small return on your investment in the future.

The interest rates are low and sellers are finally accepting the fact that real estate prices have fallen. There are always buyers out there if the price is right. That does not mean stealing property for low ball prices but some of these sales were good deals for both the buyers and the sellers.

It is not only the high end property which is selling now. Lower and mid priced property is also selling --- when the price is right.

We have just purchased a lake front in Moultonborough and can't wait to get on the lake.

Just Sold · 02-01-2010, 10:34 AM

Quote:

Originally Posted by secondcurve

Just Sold:

On average, how far have the prices of waterfront homes fallen? 15-20%? Are you of the opinion that we are on the bottom, started-upward??? It should be an interesting spring.

It is not a question of how far lake prices have dropped. We are talking about specialized properties when they are on a lake like Winni. Prices refelect the desire to own more than the economic conditions in my opinion. The lakes region - Belknap County for example never had a huge volume of sales compared to Rockingham and Hillsborough Counties and still has few sales overall in a months time. I read a trade newspaper of all RE sales and other info in the state and got the information I posted here from that paper. Lots of data to be found there from the public records.

For S. NH prices are pretty much at bottom. Buyers are there but I do not believe that sales will be too great for a while. Of course there will always be highs and some lows in sales volume. We still have a huge backlog of inventory to deal with and foreclosures are still happening all over the state.

neckdweller · 02-01-2010, 11:17 AM

Doing a quick Google search shows that the Iroquois one was at one point listed at $2.79MM - that's a nice 20% discount. Not sure when the original listing was from though.

BroadHopper · 02-01-2010, 12:44 PM

Are the greedy corporate executives. On the average corporation hands out $2 in stock and 30 cents in stock options to executives for every $1 they gave to employee pension and or 401K. This is mind boggling!

Steveo · 02-01-2010, 12:48 PM

What I thought was funny about the listings was the final prices of the Echo Point house and the Sunapee property - $2,137,533 and $2,479,733. How do reach such unusual prices. Did they leave the cents off and round the numbers.

01-31-2010, 12:08 PM	#3
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,570 Thanks: 3,206 Thanked 1,101 Times in 793 Posts	The stimiulus package Is artificially keeping the economy going. Giving folks false signals like the Clunker bill. Folks bought cars and ended up defaulting their loans. Creating a bigger mess. The affordable homes bill is turning govt backed mortgages into 2 to 4% mortgages. Even to folks who don't have jobs and folks who have second homes. I can't imagine the false security that will bring. Homes may be selling but the overall cost of homes are 10% less than last year. Lots of folks finds theit mortgage are worth more than their homes and are short selling or walking away. Good for the realtors but on the long run the consumers suffers __________________ Someday may never be an actual day.

02-01-2010, 12:44 PM	#10
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,570 Thanks: 3,206 Thanked 1,101 Times in 793 Posts	Those that can afford it. Are the greedy corporate executives. On the average corporation hands out $2 in stock and 30 cents in stock options to executives for every $1 they gave to employee pension and or 401K. This is mind boggling! __________________ Someday may never be an actual day.

01-31-2010, 11:26 AM	#1
Just Sold Senior Member Join Date: Apr 2004 Location: Suncook, NH, but at The Lake at Heart Posts: 2,615 Thanks: 1,083 Thanked 434 Times in 210 Posts	Busy 1st Week of Jan in RE Sales The first Week of January had some really big Lakes Region Sales! The region had 4 of the top 12 real estate sales in all of NH for the week of 1/4-1/8 Is the economy recovering, still bad or are the people with big money not affected by the economy? #4 Moultonboro - 66 Iroquois Ln - $2,250,000 - No Mortgage #5 Alton - 9 Fisher Rd (Echo Point) - $2,137,533 - No Mortgage #6 Alton - 72 Shore Road (Roberts Cove) - $1,510,000 - No Mortggae #12 Moultonboro - 56 Pine Needle Ln - $800,600 - No Mortgage Of note for waterfront land #7 New London - Pilot Road - 1 lot, 1.83 acres - 315' waterfrontage on Lake Sunapee $1,510,000 - No Mortgage #2 Sunapee - Lake Ave, Sunapee Lake - $2,479,733 - No Mortgage __________________ Just Sold At the lake the stress of daily life just melts away. Pro Re Nata

01-31-2010, 12:00 PM	#2
DMAX Junior Member Join Date: Mar 2006 Location: Northwood, NH Posts: 20 Thanks: 5 Thanked 2 Times in 2 Posts	If your plunken down 1-2 mil. cash for a summer home I doubt they were affected and I'm sure they got plenty more.

01-31-2010, 02:04 PM	#4
lawn psycho Senior Member Join Date: Jul 2009 Location: On the move... Posts: 987 Thanks: 113 Thanked 248 Times in 133 Posts	How do individuals pay for it? I'll bet if you got the owners names and looked up stock sales that will explain some of it. If you invested last winter you are sitting pretty right now.

01-31-2010, 09:26 PM	#5
Rinkerfam Senior Member Join Date: Apr 2004 Posts: 268 Thanks: 0 Thanked 14 Times in 8 Posts	I have a friend who has a real estate appraisal business. He has done quite a bit of work in the lakes region over the years. I think his observations pretty much sum it up...There will always be folks that have money. __________________ Education is hanging around 'til you've caught on - Frost

01-31-2010, 09:40 PM	#6
secondcurve Senior Member Join Date: Jan 2005 Posts: 2,117 Thanks: 1,325 Thanked 559 Times in 288 Posts	Just Sold: On average, how far have the prices of waterfront homes fallen? 15-20%? Are you of the opinion that we are on the bottom, started-upward??? It should be an interesting spring.

02-01-2010, 08:41 AM	#7
townsde Senior Member Join Date: Dec 2009 Location: Hollis NH and Moultonborough Posts: 68 Thanks: 6 Thanked 8 Times in 6 Posts	A Good time to Buy In my opinion this is a good time to buy if you like Winnipesaukee and want to enjoy it for a few years. There is also the likely hood that you will make a small return on your investment in the future. The interest rates are low and sellers are finally accepting the fact that real estate prices have fallen. There are always buyers out there if the price is right. That does not mean stealing property for low ball prices but some of these sales were good deals for both the buyers and the sellers. It is not only the high end property which is selling now. Lower and mid priced property is also selling --- when the price is right. We have just purchased a lake front in Moultonborough and can't wait to get on the lake.

02-01-2010, 11:17 AM	#9
neckdweller Senior Member Join Date: Apr 2008 Location: Moultonborough & Southern NH Posts: 133 Thanks: 6 Thanked 37 Times in 18 Posts	Doing a quick Google search shows that the Iroquois one was at one point listed at $2.79MM - that's a nice 20% discount. Not sure when the original listing was from though.

02-01-2010, 12:48 PM	#11
Steveo Senior Member Join Date: Apr 2004 Posts: 524 Thanks: 47 Thanked 123 Times in 63 Posts	What I thought was funny about the listings was the final prices of the Echo Point house and the Sunapee property - $2,137,533 and $2,479,733. How do reach such unusual prices. Did they leave the cents off and round the numbers.