Realtor's Say it Is A Buyer's Market

[ITD]

Thanks Lawn Psycho, unfortunately Washington politics have had a huge impact on the lake's economy and this thread has meandered since its first day.

To me the big question is whether buying a second home with a mortgage is a prudent thing to do. I'm sure there are situations where it makes sense, but what are those situations and how do you determine when you are getting in over your head. Just because a bank qualifies you doesn't mean you should take the loan.

[fatlazyless]

So anyone know what happened at 22 Cattle Landing ...... like why is there a new realty listing sign out front now when therehadnever been a sign out front since it was constructed in 2006 and up thru Oct 2012?

[Rusty]

Originally Posted by fatlazyless

So anyone know what happened at 22 Cattle Landing ...... like why is there a new realty listing sign out front now when therehadnever been a sign out front since it was constructed in 2006 and up thru Oct 2012?

Arms Length Transaction in September. Then something happened to put it up for sale again.


Below is what it said in september abount the sale:



The highest sale on the lake in September was at 22 Cattle Landing Road in Meredith. The sale of this property was another long ordeal as it was listed prior to construction back in June of 2006 at $2.995 million with construction to be completed in 2007. The price escalated to $4.25 million in June of 2008, then was reduced to $3.2, to $2.895 in 2010, and finally down to $2.695 million this year. Anyway, this exquisite 6,000 square foot Adirondack has all the features one would expect in a Winnipesaukee waterfront estate home including Brazilian Cherry hardwood floors, a great room with cathedral ceilings and floor to ceiling fireplace, lots of glass, six bedrooms including a sumptuous master suite with its own private deck, the requisite gourmet kitchen with all the goodies, a home theater, and an attached, three car, heated garage for the toys. The home sits on a .72 acre peninsula lot with 328′ of frontage, amazing landscaping, beautiful patios and walkways, a perched beach, and, of course, a dock. The home also has 50% interest in another 8.5 acre lot to provide additional privacy. So, this home was marketed for 1,450 days with the sale coming in at $2.2 million. The assessed value by the Town of Meredith is at $2.577 million

[Belmont Resident]

Originally Posted by Rusty

Arms Length Transaction in September. Then something happened to put it up for sale again.


Below is what it said in september abount the sale:



The highest sale on the lake in September was at 22 Cattle Landing Road in Meredith. The sale of this property was another long ordeal as it was listed prior to construction back in June of 2006 at $2.995 million with construction to be completed in 2007. The price escalated to $4.25 million in June of 2008, then was reduced to $3.2, to $2.895 in 2010, and finally down to $2.695 million this year. Anyway, this exquisite 6,000 square foot Adirondack has all the features one would expect in a Winnipesaukee waterfront estate home including Brazilian Cherry hardwood floors, a great room with cathedral ceilings and floor to ceiling fireplace, lots of glass, six bedrooms including a sumptuous master suite with its own private deck, the requisite gourmet kitchen with all the goodies, a home theater, and an attached, three car, heated garage for the toys. The home sits on a .72 acre peninsula lot with 328′ of frontage, amazing landscaping, beautiful patios and walkways, a perched beach, and, of course, a dock. The home also has 50% interest in another 8.5 acre lot to provide additional privacy. So, this home was marketed for 1,450 days with the sale coming in at $2.2 million. The assessed value by the Town of Meredith is at $2.577 million

Now that is one beautiful house.
It blows away any of those houses on Governors Island for curb appeal.

[fatlazyless]

Originally Posted by Belmont Resident

Now that is one beautiful house.
It blows away any of those houses on Governors Island for curb appeal.

As already mentioned by me in an earlier post, post #8, I believe this house is considered to be a condominium by the town, plus it is situated very, very close to a similar condominium house next door, at #24.

I have no clue what happened to make the September 2012 sale fall through and would be a little interested to find out?

[Rusty]

Originally Posted by fatlazyless

As already mentioned by me in an earlier post, post #8, I believe this house is considered to be a condominium by the town, plus it is situated very, very close to a similar condominium house next door, at #24.

I have no clue what happened to make the September 2012 sale fall through and would be a little interested to find out?

You're right FLL. 22 and 24 Cattle landing buildings are condo's. They share common land as shown by the below image:

[SIKSUKR]

I'll piggyback on this thread by saying this morning I just locked in to refinance at 2.75% fixed 15 year no points.I just refied a year and a half ago but these rates are crazy.

[fatlazyless]

And, the biggest sale on the lake in September 2012, 22 Cattle Landing Rd in Meredith NH 03253 which almost sold for 2.2 mil, had its sale fall through, and is now listed for 1,995,000.

Assessed for 2,577,000

[gf2020]

The sale didn't "fall through". It sold on 09/13/2012 for $2,226,000. It is now for sale again at $1,995,000.

[BroadHopper]

I don't think there are that many folks that wants to shell out big bucks for a place that they don't have complete control over what they can do to their property.

[patman]

Originally Posted by gf2020

The sale didn't "fall through". It sold on 09/13/2012 for $2,226,000. It is now for sale again at $1,995,000.

That's crazy! Backing out of the purchase would have been cheaper.

[Just Sold]

The property at 22 Cattle Landing was sold on 9/13/12 (Book 2797, Page 0855) to an LLC with an address in Manchester along with another one at 46 Vessey Shore (Book 2797, Page 0855). Both were owned by the same people. The LLC address is that of an attorney.

[BroadHopper]

Originally Posted by Rusty

. Anyway, this exquisite 6,000 square foot Adirondack has all the features one would expect in a Winnipesaukee waterfront estate home .......

I can't understand why realtors claim the house is so desirable. The only thing I find desirable is the location. I'd be happy with an old fishing cottage. Less maintenance, more time to enjoy the lake!

[secondcurve]

Originally Posted by BroadHopper

I can't understand why realtors claim the house is so desirable. The only thing I find desirable is the location. I'd be happy with an old fishing cottage. Less maintenance, more time to enjoy the lake!

If you can afford that house it is doubtful you will be doing any maintenance. Your help will be taking care of that stuff.