Can We Live On Winni for $450k?

[ApS]

Originally Posted by thinkxingu

Just playing around and found this for $500K, which is just above OP's requested price range. This is on Hanson Cove, which is where Arcadia is--a very nice place to be on the lake (if one prefers quiet, less busy places). http://www.realtor.com/realestateand...-54539#photo16

Confirmed to be in a nice area?

Originally Posted by thinkxingu

Water quality in Hanson Cove is great. I didn't notice it was seasonal, but wouldn't $500k be too much for a seasonal waterfront? No offense, fellas, but buying a half million home for a couple kids who will most likely moving on--at least for a while--in a few years? And how much in the south is better for teens? The Weirs? Traffic?!

So, don't pay $500K for a seasonal waterfront.

Originally Posted by PeterG

I'm with Joey. If the asking price is 475, they will not be offended if you offer 450. Similarly, if you can afford 450, you can also afford 475. Or 462.5! We rented a place just across from this property several years ago. It's a lovely spot.

Confirmed to be in a nice area—again?

A nice, but declining, place near us started out at $800K, and dropped $100K every month until it sold—to a contractor.

A formerly unaware buyer offered the contractor "enough" for his trouble, and is moving in.

Having five properties presently, Winnipesaukee lakefront is hard to beat as an investment. (Especially the "little frog on the pond"). If I sold them all, I could buy David Copperfield's island paradise in the Caribbean right now.

Economist Peter Schiff, (on YouTube recently), said that we can expect inflation to increase rapidly. A "sorting-out" of property prices would likely leave you behind.

If the asking price is $475K, I'd offer $375K, and let them refuse it. (IF they do).

If there are major "issues", work with an RE attorney to write the agreement; otherwise, a seasoned realtor can make the deal work.

There are "workarounds" to mandatory requirements.

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