Most Expensive Lakefront Property

jimbob1603 · 05-09-2005, 11:10 AM

... I grew up with his wife; she & her husband are both lawyers. They bought a waterfront property in Wolfeboro, tore it down, and replaced it with a 5 bedroom McMansion. Their lifestyle is all due to their own personal hard work; albeit lawyering. Didn't hit the lottery, etc..

Mr. V · 05-09-2005, 02:54 PM

"I've heard (multiple times) that when Mom & Dad leave their Winnipesaukee house (with the best of intent), to their children, it inevitably is liquidated & proceeds divided because of conflicts between siblings and/or their spouses."

There is a fairly simple mechanism to minimize the potential for this: before death, the owner should set up a trust, and put ownership of the property into the trust.

Heck, if you're flush, add some cash into it, too, to be used for property taxes and expenses for awhile.

This will minimize sibling rivalry...at least in theory.

Of course, if not all the kids use the lakefront property, there will always be some disaffected soul who prioritizes greed over family unity.

upthesaukee · 05-09-2005, 10:00 PM

Isn't that property the Walgreen owners "cottage" and boat slip?

Frdxplorer · 05-10-2005, 07:39 AM

Quote:

Originally Posted by upthesaukee

Isn't that property the Walgreen owners "cottage" and boat slip?

That is what I had heard a while ago also. I have always been curious though, was there supposed to be an enormous house behind the boat house?

Mink Islander · 05-10-2005, 10:41 AM

I thought they intended to have the space above the boathouse be a residence and tried to sleaze that by without proper permits. Didn't the state took a dim view of their plans once discovered? So now they have a big dance hall over the mother of all McBoatHouses. Of course why its ok to blast your way into the shoreline the way they did to build the boathouse and man-made lagoon is a mystery! I'm also thinking there may be a decimal error in what they're asking for that property! Can't imagine they'll get anywhere close to $13+ million. Or even half that. Time will tell....

JTA · 05-10-2005, 08:21 PM

I've always thought the Marriott property at the end of Tuftoboro Neck was pretty nice. They must pay some $$$$ taxes. Next door to them there is a compound which I believe is owned by the RC Church (so I assume it is not taxed??). Anyone know about it?

Rattlesnake Gal · 05-11-2005, 06:17 AM

I hope the person that purchases it can keep the 40 acres together. That’s plenty of space for a lot of new homes.

Not something I'd like to see, I mean that literally.

mcdude · 05-11-2005, 07:18 AM

RG: You, and others, on your side of the island may potentially be looking at a lot(s) of development. The 'new' owner of the Lakes Region Airpark was required to keep it open as an airport until 2005. The state was unable, or unwilling, to acquire the property and it is now ripe for some kind of development. I'm thinking that this Wahlgreen property may even abut the airpark.

From the Laconia Citizen....
"In the fourth spot is Lakes Region Airpark, a small airport overlooking The Broads, the widest section of Lake Winnipesaukee.

The air park is assessed at $6,094,158 generating a tax bill of $66,670. Made up of two parcels, one 33.73 acres and the second, 69.5 acres off Forest Road, it features 1,000 feet of frontage on the Big Lake. The airport’s waterfront is a state approved seaplane base and is still designated as such on lake charts.

Airpark founder Ralph Horne sold it in his later years and the taxes continued to climb. But Horne added a deed restriction mandating that it operate as an airport until 2005. Don Satterfield bought it, honored the deed restriction, and was considering developing some of the property into about 35 house lots but never filed an application with the Planning Board.

When Satterfield later signed a purchase and sales agreement on the parcel with Spencer Hughes Realty, it triggered a law that gives the state the right of first refusal on privately owned airports. The case ended up in Superior Court and concluded with a judge’s ruling that the state lacked standing to acquire the airport. The Wolfeboro town planner said no development plans have been filed for the property"
See complete article HERE

ANOTHER ARTICLE on the proposed development of the airpark.

ApS · 05-12-2005, 07:15 AM

Since it was warm, sunny, and calm yesterday, I took a boat ride around The Broads to have a look-see. There are some changes. Rattlesnake Islanders are getting new addresses: One home is marked with both "116" and "983".

Now that a sunny day's comparison with Walgreen's with its neighbors can be made, I don't think the Walgreen's property is as "confrontational" as others nearby. One residence -- under construction nearby -- looks like a new Home Depot. Another has a serious landslide for a lawn. (Still another has a florescent, cardinal-red, roof

-- a trend?)

Some aluminum scrape-marks on Walgreen's rocky underwater ledges have been silted-over since just last week. There is a new navigation marker this year, too. (And it doesn't appear on my new-this-year, 6th-edition, BiZer's).

The airport is as active as ever -- with Cessnas and helicopters landing as I watched. A huge swath of giant white pines has been "harvested" from one end of the runway. Except for the abandoned "stump field" there, the airport runway may actually be safer for landings and take-offs. OTOH, the Walgreen's 40-acre property nearby has a diamond-shaped sign indicating it is a "Tree Farm". Go figure.

Are the airport- and the Walgreen- owners both looking for a Akwa-Vista-style buyer?

I've heard that one dug well nearby produces excellent water; however, my own observations of the new cellars being dug in the neighborhood of the Walgreen's indicate that the soil is eight-foot-thick clay -- and rock -- and is not suitable for the suggested wholesale, private, drainfields. (Clay will shed septic drainage into Winnipesaukee).

The narrow roads won't handle construction traffic either, and the owners fronting the roads (including a public beach) may have something to say about that.

Now (Thursday) I'm getting word that the Winnipesaukee real estate market is going to get bad for us lakefront owners. More on that when I get a clarification on that "doomsday" e-mail.

First today though, I've got to refill my tank with another 2 gallons of expensive gasoline. Where to go???

ITD · 05-12-2005, 07:38 AM

Quote:

Originally Posted by Acres per Second

Now (Thursday) I'm getting word that the Winnipesaukee real estate market is going to get bad for us lakefront owners. More on that when I get a clarification on that "doomsday" e-mail.

Ahhhhhh APS,

Once again you pique my interest, please elaborate on the quote above, does bad mean bad water, more development or maybe lower prices?

liketherush · 08-29-2005, 05:55 PM

I just had a few questions and comments to add to this very old thread. First I wanted to state that a 13.5 million dollar asking price doesn't mean the assessed value is anywhere near that. Houses in Rye have been known to sell for more than twice their assessed values. If anyone's interested, the assessment on this particular property can be found at www.visionappraisal.com and is actually about 5.4 million.

Now my questions are regarding the Bahre estate. Is the 9.3 million dollar value reported in that article about the largest tax payers, the value of the entire property or merely that of the building. I'm going to guess that at 35,000 square feet, it's just the value of the house although that still seems a bit low. Similarly, is the 4.7 million dollars the value of his son's home on the same estate, or does Mr. Bahre own another house elsewhere in Alton?

05-09-2005, 11:10 AM	#1
jimbob1603 Senior Member Join Date: May 2004 Posts: 71 Thanks: 0 Thanked 0 Times in 0 Posts	I know one of 'em ... ... I grew up with his wife; she & her husband are both lawyers. They bought a waterfront property in Wolfeboro, tore it down, and replaced it with a 5 bedroom McMansion. Their lifestyle is all due to their own personal hard work; albeit lawyering. Didn't hit the lottery, etc.. Last edited by jimbob1603; 05-09-2005 at 12:41 PM.

05-09-2005, 10:00 PM	#3
upthesaukee Senior Member Join Date: Jan 2003 Location: Alton Bay Posts: 5,599 Blog Entries: 2 Thanks: 2,459 Thanked 1,981 Times in 1,082 Posts	Isn't that property the Walgreen owners "cottage" and boat slip? __________________ I Live Here... I am always UPTHESAUKEE !!!!

05-10-2005, 10:41 AM	#5
Mink Islander Senior Member Join Date: Apr 2004 Posts: 753 Thanks: 59 Thanked 271 Times in 129 Posts	Mother of all McBoatHouses I thought they intended to have the space above the boathouse be a residence and tried to sleaze that by without proper permits. Didn't the state took a dim view of their plans once discovered? So now they have a big dance hall over the mother of all McBoatHouses. Of course why its ok to blast your way into the shoreline the way they did to build the boathouse and man-made lagoon is a mystery! I'm also thinking there may be a decimal error in what they're asking for that property! Can't imagine they'll get anywhere close to $13+ million. Or even half that. Time will tell....

05-10-2005, 08:21 PM	#6
JTA Senior Member Join Date: Aug 2002 Location: Fort Pierce, Florida Posts: 233 Thanks: 34 Thanked 25 Times in 21 Posts	Nice I've always thought the Marriott property at the end of Tuftoboro Neck was pretty nice. They must pay some $$$$ taxes. Next door to them there is a compound which I believe is owned by the RC Church (so I assume it is not taxed??). Anyone know about it?

05-11-2005, 06:17 AM	#7
Rattlesnake Gal Senior Member Join Date: Nov 2003 Location: Central NH Posts: 5,252 Blog Entries: 1 Thanks: 1,451 Thanked 1,349 Times in 475 Posts	Potentially 40 Acres Of New Homes? I hope the person that purchases it can keep the 40 acres together. That’s plenty of space for a lot of new homes. Not something I'd like to see, I mean that literally.

05-09-2005, 02:54 PM	#2
Mr. V Senior Member Join Date: Jun 2004 Location: the left coast (Portland)and West Alton Posts: 1,401 Thanks: 64 Thanked 256 Times in 174 Posts	"I've heard (multiple times) that when Mom & Dad leave their Winnipesaukee house (with the best of intent), to their children, it inevitably is liquidated & proceeds divided because of conflicts between siblings and/or their spouses." There is a fairly simple mechanism to minimize the potential for this: before death, the owner should set up a trust, and put ownership of the property into the trust. Heck, if you're flush, add some cash into it, too, to be used for property taxes and expenses for awhile. This will minimize sibling rivalry...at least in theory. Of course, if not all the kids use the lakefront property, there will always be some disaffected soul who prioritizes greed over family unity.

05-11-2005, 07:18 AM	#8
mcdude Senior Member Join Date: Jul 2002 Location: Rock Haven Lake - West Newfield, ME Posts: 5,367 Thanks: 374 Thanked 1,057 Times in 495 Posts	Potential Development RG: You, and others, on your side of the island may potentially be looking at a lot(s) of development. The 'new' owner of the Lakes Region Airpark was required to keep it open as an airport until 2005. The state was unable, or unwilling, to acquire the property and it is now ripe for some kind of development. I'm thinking that this Wahlgreen property may even abut the airpark. From the Laconia Citizen.... "In the fourth spot is Lakes Region Airpark, a small airport overlooking The Broads, the widest section of Lake Winnipesaukee. The air park is assessed at $6,094,158 generating a tax bill of $66,670. Made up of two parcels, one 33.73 acres and the second, 69.5 acres off Forest Road, it features 1,000 feet of frontage on the Big Lake. The airport’s waterfront is a state approved seaplane base and is still designated as such on lake charts. Airpark founder Ralph Horne sold it in his later years and the taxes continued to climb. But Horne added a deed restriction mandating that it operate as an airport until 2005. Don Satterfield bought it, honored the deed restriction, and was considering developing some of the property into about 35 house lots but never filed an application with the Planning Board. When Satterfield later signed a purchase and sales agreement on the parcel with Spencer Hughes Realty, it triggered a law that gives the state the right of first refusal on privately owned airports. The case ended up in Superior Court and concluded with a judge’s ruling that the state lacked standing to acquire the airport. The Wolfeboro town planner said no development plans have been filed for the property" See complete article HERE ANOTHER ARTICLE on the proposed development of the airpark. Last edited by mcdude; 05-12-2005 at 06:39 AM.

05-12-2005, 07:15 AM	#9
ApS Senior Member Join Date: Jan 2005 Location: Florida (Sebring & Keys), Wolfeboro Posts: 5,938 Thanks: 2,205 Thanked 776 Times in 553 Posts	"Akwa Wolfeboro"? Since it was warm, sunny, and calm yesterday, I took a boat ride around The Broads to have a look-see. There are some changes. Rattlesnake Islanders are getting new addresses: One home is marked with both "116" and "983". Now that a sunny day's comparison with Walgreen's with its neighbors can be made, I don't think the Walgreen's property is as "confrontational" as others nearby. One residence -- under construction nearby -- looks like a new Home Depot. Another has a serious landslide for a lawn. (Still another has a florescent, cardinal-red, roof -- a trend?) Some aluminum scrape-marks on Walgreen's rocky underwater ledges have been silted-over since just last week. There is a new navigation marker this year, too. (And it doesn't appear on my new-this-year, 6th-edition, BiZer's). The airport is as active as ever -- with Cessnas and helicopters landing as I watched. A huge swath of giant white pines has been "harvested" from one end of the runway. Except for the abandoned "stump field" there, the airport runway may actually be safer for landings and take-offs. OTOH, the Walgreen's 40-acre property nearby has a diamond-shaped sign indicating it is a "Tree Farm". Go figure. Are the airport- and the Walgreen- owners both looking for a Akwa-Vista-style buyer? I've heard that one dug well nearby produces excellent water; however, my own observations of the new cellars being dug in the neighborhood of the Walgreen's indicate that the soil is eight-foot-thick clay -- and rock -- and is not suitable for the suggested wholesale, private, drainfields. (Clay will shed septic drainage into Winnipesaukee). The narrow roads won't handle construction traffic either, and the owners fronting the roads (including a public beach) may have something to say about that. Now (Thursday) I'm getting word that the Winnipesaukee real estate market is going to get bad for us lakefront owners. More on that when I get a clarification on that "doomsday" e-mail. First today though, I've got to refill my tank with another 2 gallons of expensive gasoline. Where to go???

08-29-2005, 05:55 PM	#11
liketherush Junior Member Join Date: Aug 2005 Posts: 4 Thanks: 0 Thanked 0 Times in 0 Posts	I just had a few questions and comments to add to this very old thread. First I wanted to state that a 13.5 million dollar asking price doesn't mean the assessed value is anywhere near that. Houses in Rye have been known to sell for more than twice their assessed values. If anyone's interested, the assessment on this particular property can be found at www.visionappraisal.com and is actually about 5.4 million. Now my questions are regarding the Bahre estate. Is the 9.3 million dollar value reported in that article about the largest tax payers, the value of the entire property or merely that of the building. I'm going to guess that at 35,000 square feet, it's just the value of the house although that still seems a bit low. Similarly, is the 4.7 million dollars the value of his son's home on the same estate, or does Mr. Bahre own another house elsewhere in Alton?