There were ten waterfront sales  during the month of July, 2011 on Lake Winnipesaukee at an average price of $1.223 million. That’s up from the six sales on the big pond last July at an average price of $955,333. Half of the sales for both months were over the $1 million mark but this year’s average was bumped by a nice $3 million new construction sale on Governor’s Island in Gilford. For the year thus far, there have been 51 sales on Winnipesaukee at an average price of $1.162 million compared to 45 at an average of $1.211 million for the first seven months of 2010.

As often is the case, the least expensive sale on Winni was an island property and this time it was at 842 Rattlesnake Island in Alton. This 1987 post and beam cape and an adjoining guest cottage are connected by a large deck and have a total of 2350 square feet of living space including three bedrooms. The .92 acre lot offers some great views and has 150’ of frontage, a covered boat slip, and a sandy beach. This vacation get-a-way was priced at $499,000 and went under contract in just 15 days at $465,000. The current tax assessment is $485,300. Rattlesnake Island is two miles long and rises to about 400’ above the mean water level of the lake. The story goes that Rattlesnake Island was named after the abundance of rattlesnakes that used to make their home on the island. I read that the island was once set on fire to try and get rid of the snakes. But these buyers don’t have to worry as it has been many, many years since a rattlesnake has been seen out there. I believe they all slithered down to Washington some time ago. Isn’t it amazing when you can mix real estate, lake lore, politics, and geography all in one paragraph?

Just a short distance across the lake at 23 Viewpoint Drive in Wolfeboro a property willed to Massachusetts General Hospital also found a live one (some pun intended). The 1970’s vintage ranch and separate guest cottage are likely tear down candidates on this private 1.35 acre level lot that has 360’ of frontage, a sandy beach, a 60’ permanent dock and breakwater, and long range views. This property was on the market for 675 days starting at $2 million. It was eventually reduced to $1.5 million and sold for $1.4 million. The tax assessed value is $1.729 million so it seems like someone got a good deal, but Mass General got an even better one.

The largest sale on the lake for the month was a new construction by Skiffington Homes at 432 Edgewater Drive on Governor’s Island in Gilford. This 5,000 square foot, four bedroom, four and a half bath Adirondack lake home has four fireplaces, a first floor master suite, the requisite great room and gourmet kitchen, lower level walkout, bonus rooms over the three car garage, and the high quality fit and finish that Skiffington Homes are known for. This home sits on a prime 1.06 acre lot with 185’ of frontage, boat dock, and great long views. The purchase price of $3.1 million exceeded the asking price of $2.995 undoubtedly due to upgrades and changes requested by the lucky new owner.

Over on Winnisquam there was but one sale in July and that was at 24 Lakeside Drive in Belmont. This property is a 1924 square foot log home built in 1995 which has two bedrooms, two and a half baths, a living room with wood burning fireplace, lower level family room, 50’ of frontage, a sandy beach, and, most importantly, a boathouse. This home was originally offered at $524,900, reduced to $499,000, and sold for $470,000 after 240 days on the market. The Town of Belmont has the property assessed for $456,800. It looks like a neat place and I bet the buyer is having a great time this summer!

There was also only one sale on Squam and that was at 119 Keewaydin Road in Center Harbor. This 1971 vintage cape style home has 2,280 square feet of living space, three bedrooms, a finished family room in the basement, a three season porch, and a nice deck overlooking Dog Cove. The beautiful 1.08 acre lot is at the very end of the road and has 190’ of unspoiled frontage plus all the Squam Lake appeal imaginable. The new owners are planning to build their dream home on Golden Pond. This property was offered last year at $1.695 million, relisted at $1.299 million this year and sold for $1.105 million. The property is assessed for $1.61 million.

In the Three Stooges 1940 short film “No Census, No Feeling,” the Stooges are census takers (some say the census takers are now the stooges!). Curly answers a question about where he was born with “Lake Winnipesaukee.” When Moe asks him to spell it, he stammers a few syllables but blurts out “Make that Lake Erie. I’ve got an uncle there!”

Tweet

189 Dockham Shore Rd

Gilford, NH

MLS #4076401  Offered at $899,000

This high quality Winnipesaukee waterfront home has an open floor plan designed by the owners for everyday living & entertaining.

Enjoy fabulous views of the lake from practically every room in this great home!

The main floor has a custom kitchen with granite counter tops, tile floors, & fabulous center island with a gas cook top. The kitchen opens into the great room featuring a wall of glass to view the lake, hardwood floors, beautiful trim work, a gas fireplace with flat screen TV above, a bar, & vaulted ceilings. Also adjacent to the kitchen is a dining area & a heated three season porch.

The upstairs is dedicated to the master suite complete with a gas fireplace & private deck & an office that looks down into the great room & out to the lake. The lower level walk out has two bedrooms, a full bath, and a family room. The home features in-floor radiant heat & a Bose sound system.

The .33 acre, beautifully landscaped lot has 50′ of frontage, sandy entry, & a dock. Don’t let this one get away!



Construction Specifications:

9’ Poured Concrete Foundation with 2” Rigid Insulation

2×6 Walls with Marvin Windows

Insulation; Spray Foam in Walls, 6” Fiberglass in Floors, Fiberglass & Blown-in in Attic

Skim Coat Plaster over Blue Board through out

Variable Speed Water pump in “True” artesian well

Radiant Heat with High Efficiency Gas fired Boiler

Oak & Pine Trim, Maple Cabinets, Ash, Ceramic Tile & Carpet Flooring

Special Features:

Miele Stainless Appliances with Disappearing Ventilation System

Baths; Under Vanity Lighting, Master; Tile Shower with three heads

Granite Counter Tops with under countertop stainless sink in kitchen

Central Vacuum System with commercial grade vacuum unit

Whole House, Four Zone Bose Entertainment System plus Two Exterior Zones

Two Gas Fireplaces, Great Room & Master

Great Room Soffit & Tray Ceiling in Master both with up lighting

Tweet

47 Advent Cove, Meredith, NH

MLS #4061667

Take this High Definition Virtual Tour

First Time Ever Offered

Priced at $3,995,000

It’s very rare that a Lake Winnipesaukee waterfront property offers the privacy, views, and overall serenity that this very special property radiates. The “old lake” feel is all around you. Check out this video tour and you’ll agree!

Tweet
 

There were just four sales on Lake Winnipesaukee in May 2011 but that does equal last May’s tally although the average sales price was lower at just $1.053 million compared to an average of $1.727 last May. Last May there were three sales over a million, one of which came in at $3.9 million helping to boost that average.

The least expensive sale on Winnipesaukee last month was at 20 Railroad Ave in Alton. This is an updated two bedroom, 744 square foot seasonal camp sitting on a .16 acre lot with 40’ of waterfront. The big selling feature here is that this small cottage has really big, panoramic views from the large deck. This lakeside retreat was listed at $429,000, reduced to $389,000, and sold for $355,000 after 266 days on the market. The current tax assessment for is Alton waterfront is $401,500.

Another completely renovated waterfront home at 177 Kingswood Road in Wolfeboro also attracted a new buyer. This 1980 vintage, 3,400 square foot, three bedroom, five bath contemporary home was put on a new foundation and stripped right down to the studs. The only thing reused were the beautiful fir floors. Everything else is new-inside and out. The home features a custom kitchen with beautiful cabinetry, granite countertops and stainless steel appliances, a lakeside living room with gas fireplace, a family room in the walk out basement, and three bedrooms all with private baths. The home sits on a level one acre lot with southern exposure and gorgeous views. There is 119’ of frontage, a sandy beach, and a forty foot dock for the new owners to enjoy now that summer is finally here. This home was on the market for 305 days starting at a list price of $1.995 million, with several price reductions down to $1.595, with an offer accepted at $1.47 million. The current tax assessment for this property is $1.352 million.

The largest sale for the month was at 112 Hopewell Road in Alton. This is a 3,192 square foot, four bedroom, three bath, classic lake home with a large wrap-around porch that is perfect for telling tales on. The home was built in 1999 on a 2.18 acre lot on Roberts Cove that offers great privacy, westerly views, stunning sunsets, 296’ of frontage, plus a U-shaped dock with breakwater. The tale of the sale on this home is a long one. It was first offered in December 2005 at $3.9 million, in October 2006 for $2.995 million, in 2008 for $3.1 mil, and in 2010 for $1.6 as a short sale. This year it was listed for $1.595 million and found a buyer at $1.5 mil after 168 days. The listing doesn’t say that it was a short sale, but the fact that it was under contract for only 39 days before closing would mean that it wasn’t. It probably just felt that way to the seller…The property is current assessed at $1,46,200.

Over on Winnisquam there were five sales which is actually a banner month for this lake! That puts the tally for the first five months up to fifteen sales compared to ten for the same period last year. Three of the five sales occurred on Leighton Ave in Laconia which is a little unusual. The largest sale was at 140 Leighton Ave North in Laconia. This Japanese influenced contemporary home built in 1980 has 1,580 square feet of living space, three bedrooms, two baths, a massive stone fireplace in the living room, a sauna, and a newly remodeled kitchen with granite countertops, cherry cabinets, and Jenn–Air appliances. The home literally is on the water as the decks actually overhang the lake. You can imagine how great the views are! The house sits on a .85 acre lot with 369 feet of frontage. There is even a Japanese Tea House straddling a babbling brook that is accessed by a small bridge. Kind of makes you want to watch a rerun of Karate Kid. It was a bit of a struggle to get this property sold. It was listed originally in 2009 and 2010 at $799,000 and at $749,900 this year. It was reduced to $649,000 with a deal accepted at $605,000 after a total of 977 days on the market. The current tax assessment on this property is $645,200. I bet the former owner was happy to finally say “Sayōnara” to this one…

Right now there are about 275 waterfront properties available on Winnipesaukee and 27  on Winnisquam from as little as $189,000 to just over $10 million with lots of deals in between. Maybe you can find your own great deal on the water this summer!

Tweet

47 Advent Cove, Meredith, NH

MLS #4061667

First Time Ever Offered

Priced at $3,995,000

It’s very rare that a Lake Winnipesaukee waterfront property offers the privacy, views and overall serenity that this very special property radiates. The “old lake” feel is all around you. So how did this all come about?

In 1988, John and Virginia Stabile purchased 47 Advent Cove Rd as a house lot of 6 plus acres with 300 feet of frontage on Lake Winnipesaukee. This parcel of land is a rectangle of approximately 300’x1250’. The lot was bought from Fred Fuller, a statewide fuel dealer. Stabile and his wife lived on Blackcat Island at the time and spent the next year working with a team of professionals to design and build their home. The architect, Don Lavallee, of Lavallee and Brensinger worked with George Matarazzo, a nationally renowned land planner to situate the house so as to maximize the view of the lake and mountains. The house was designed as an Adirondack retreat, whereas, Mrs. Stabile grew up in the Adirondacks. The house itself was designed for the Stabile’s and their 3 boys and surrounding family, hence the large eat-in kitchen area and living room activity center.

The house was built with the finest materials. One should note that the exterior siding and wood is redwood. High end Marvin windows were utilized. The interior walls are plaster and the floors are a fine grade of white oak. At the time the house was designed to be as energy efficient as possible. There are five separate air handlers that work off a forced hot water boiler system. Kohler plumbing fixtures were used throughout the home .Kitchen cabinets were hand made on site as well as all the trim work and was done by Stabile’s finish carpenters. An 18 KV backup generator will handle the entire house in the case of power outages.

The house was originally designed so that the Stabile’s could live on the first floor and shutdown the upper floors if they were there alone. That never seemed to happen. All five bedrooms are generally filled on weekends. The kids especially enjoy the recreation room up on the second floor which has bunked many a pajama party. The master suite has a large walk in closet and luxurious bath. The living room features a fieldstone fireplace built with stone coming from an area wall and individually laid by a master stone craftsman. The den was originally going to be a dining room and can be reconverted to same, but it has served well as a secondary downstairs TV location with hand crafted built-ins.

While still on the 1st floor, one will notice the gazebo room off the rear kitchen deck. This room works beautifully in summer evenings after dark so the bugs don’t get you. It also has slip in glass windows to extend the spring and fall usage. The roof is copper roof and you’ll see copper trim throughout the house elsewhere. Upstairs you have three large bedrooms with built-ins as well as the infamous bunk room where the kids held all their sleepovers. Many a story could be told about that room. It’s a kid’s delight.

The basement is prepared to be finished and everything is sized accordingly. There is a wood stove in the basement for emergencies. And if you are golf nut, the basement also has a built in indoor driving range and all utility services.

Even the magnificent two bay boathouse, which boasts a registered heliport above it, has been designed to be part of the landscape. This could come in handy in case you need to commute to and from your day job. The boathouse has the capacity to hold 2 boats in the air during the winter months.

This 5,000 plus square foot home is of the true and timeless Adirondack design and the setting is one of a kind. An offering such as this is truly rare and unique, so schedule a private showing today. Memories are waiting to be made…

Tweet

There were eight waterfront sales on Lake Winnipesaukee last month at an average price of $988,000. That compares to ten sales last April at an average price of $1,057,900. There were three sales over the $1 million mark both this April and last. It seems to me that the waterfront market is hanging in there and we are seeing good activity on showing as we work our way into the spring season. Now if the sun would come out for a week and it would warm up we’d be in great shape.

The least expensive waterfront sold was an island property at 14 Pine Island  in Meredith. This is a six room, three bedroom, A-Frame style home that has a knotty pine interior, living room with a fieldstone fireplace, master bedroom in the loft, and a large deck. The home sits on a 2 acre lot with 215 feet of sandy bottom frontage and a 30’ dock. It looks like a really cute place! It was listed for $320,000 and sold for $300,000 after 175 days on the market. The property is currently assessed for $373,400. It must have been a cold snowmobile trip to go out and look at this one back in February, but what the heck, they got a good deal!

Over in Laconia, the waterfront at 178-194 Channel Lane finally found a buyer. This is a 4,833 square foot, five bedroom (four suites), six bath immaculate contemporary home built in 1968 along with a two bedroom guest cottage that has a phenomenal view down Paugus Bay. Located at the very end of Channel Lane, this home has great privacy, 581’ of shorefront on two lots of record, a two bay boathouse with boat lifts, and an amazing yard with beautiful landscaping. It also has a workshop that Bob Villa would love, an elevator, and a three car garage plus another garage for the yard equipment. If this house doesn’t have it, you don’t need it. But it was a struggle getting this property sold. It was originally listed back in November, 2007 for $2.3 million, was reduced several times down to $1.795 million, and finally sold for $1.3 million after a total of 1,216 days on the market. The current assessment on the property is $1,454,400.

The largest sale for the month was at 129 Dockham Shore Road in Gilford. This is a 6,000 square foot, four bedroom, five bath, custom showcase model home built by Graystone Builders. It has 180 degree views of Winnipesaukee and the mountains beyond. This fabulous Adirondack home has all the bells and whistles including custom cherry cabinetry, stainless steel appliances, granite countertops, Douglas fir moldings, trim and doors, mahogany floors, Pella triple glazed windows, large deck, a professional landscaped yard, and three car garage. The home sits on a .48 acre lot with 103 feet of frontage. The home was originally listed back in January 2009 for $2.395 million, was relisted at $1.999 million, and sold at full price after a total of 780 days on the market. The current tax assessment stands at $1,223,520.

There were no waterfront sales on Winnisquam or Squam in April which is a little disappointing especially if you have a home listed on one of these great lakes, but the season is young. It’s kind of like watching the Red Sox.

Tweet

Windover Farm

290 Meredith Neck Road, Meredith
MLS # 4061327

Offered at $1,895,000
 

This stunning Adirondack offers so much more than the typical Winnipesaukee waterfront home. Few other homes in the Lakes Region offer the style, quality, privacy, acreage, waterfront, and sense of oneness with the land that Windover Farm does.

Not only was this home finely crafted using the latest green technology and highest quality materials ensuring trouble free and energy efficient living, it is spectacular inside and out as well. The red cedar shingles with green trim, carriage house exterior lighting, cupola, and fieldstone façade next to the covered front entry provide the classic Adirondack style that welcomes you into the home.
 

Once inside the entry, your eyes are drawn automatically past the columns framing the great room to the views through glass doors and windows in the front of the home. The great room is flanked by a stone double sided, see-through, gas fireplace and also features cathedral ceilings. Gleaming red oak flooring is used throughout the great room, dining, and kitchen areas further enhancing the sunny, open floor plan.
 

The custom kitchen features high end stainless steel appliances, beautiful cabinetry, tile back splashes, and granite counter tops. An adjacent dining room has a serving area complete with custom touches including a wine rack, wine cooler, and granite counters. Just beyond the dining room is a wonderful octagonal sunroom perfect for your morning coffee or evening cocktails. A large composite deck connects the sunroom with the great room providing spacious outside entertaining space.

The first floor master suite also has mountain views, tray ceilings, a luxurious bath with heated floors, premium fixtures, and a large walk in closet. Rounding out the first floor is a guest suite, den, a half bath, and laundry area.
Upstairs over the garage, there is a huge bonus room that’s the perfect place for a billiard table or home entertainment center. You may never see the kids again. Just through a set of French doors is another room that could be utilized as an office, den, or just a comfortable spot to read a book. For convenience, this level also has a beautiful three quarter bath so you won’t have to run downstairs.

On the lower walk out level there’s a spacious family room with a gas fireplace, three more ample size bedrooms for family or guests, and a full bath.

While many of the quality and custom features in this home may be readily apparent, there are some special enhancements that may not be noticed and that are worthy of special note. This is an Energy Star, Five Star Plus rated home so you’ll not only save money on your heating bills, but it will also be a much more comfortable home to live in. There are two tankless, gas fired, hot water heaters at opposite ends of the home, a Lennox G71 Energy Star qualified gas fired furnace and air conditioning unit with a 95% efficiency rating and four zones, Tuff and Dri water proofing to ensure a dry basement, a sprinkler system for fire safety and insurance savings, solid four panel fir doors and trim, red oak stair railings and treads, Anderson windows and exterior doors, and Lattitudes composite decking, Correct Deck railing, and Kleer Trim for ease of maintenance. A complete list of building specifications and details is available for review.
 

The home sits on a spectacular 13 acre parcel offering privacy, fields, a pond, panoramic mountain views, and 155 feet of sparkling waterfront. Travel down to the shore by following a winding stone path through the fields and woods on your golf cart (included with the home) and you’ll find a serene cove with a 40’ dock and a perched beach. A rustic cabin will also be built to provide storage for your waterfront toys or provisions.
 

Windover Farm was conceived and constructed by the premiere NH home builder, H.J. Stabile and Sons, to exacting standards and with an eye for style and quality that can only be achieved through the construction of over 3,500 homes and condominiums throughout the region.

This property is what dreams are made of and where many special memories will be made. From the anticipation of a flowering spring, to lazy summer days on the water or at the shore, viewing autumn colored panoramas, to winter cross country skiing and skating parties, every moment here will be unforgettable. This could be the stunning horse farm, secluded retreat, a perfect place to raise your children, or the retirement home you have always wanted.

All your dreams are possible at Windover Farm.

Come visit soon, you’ll want to stay for a lifetime…

Tweet

A Winnipesaukee Waterfront Retreat… 

29 Salmon Meadow Lane, Moultonborough, NH

MLS #4056892 

 A Great Buy at $493,200

 This Winnipesaukee waterfront home with 150′ of shore front could be the perfect vacation retreat or primary residence that you have been searching for.

It features a bright and open floor plan that is perfect for entertaining and today’s easy living lifestyle. The main level has a well appointed kitchen with breakfast bar, dining area, a cozy living room with a wood burning fireplace, and a master suite with a slider out to the large deck.

Upstairs there is a den/reading area flanked by two generous size bedrooms both of which feature sliders leading out to balconies overlooking the lake. There is also a screened porch for those buggy evenings. The home has forced hot air heat and central air for those humid summer days.

The landscaped .4 acre lot has southwest exposure, an L-shaped dock, and a sandy beach for the kids. The lot is well landscaped and there is ample lawn area for the kids to play games but not so much that you’ll spent  a lot of time mowing. This home was built by Wood and Clay who is one of the area’s top waterfront home builders.  The owner has just had a new roof and exterior painting done so you can enjoy your summers on the lake!

Call soon to set up a showing!

Tweet

Despite the relentless winter, there were six waterfront sales on Lake Winnipesaukee in March of 2010 at an average price of $986,667. There were two sales in excess of $1 million. Last March there were seven sales at an average of $1.1 million with the average price bolstered by a $4.25 million sale in Wolfeboro. The tally for the first quarter of this year stands at 17 sales which is equal to the first quarter of last year although the average sales price is down from $1.9 million to $857,471. There were only three sales over $1 million this year so far compared to eight for the first quarter of last year.

The least expensive property sold on the big lake was in Meredith at 7 Stonedam Island Road. This was a bank owned contemporary built in 2005. It has 2,880 square feet of living space, three bedrooms, three baths, and a great room with cathedral ceilings and lots of glass looking out at Sally’s Gut (I am not referring to former owner’s wife—that’s part of the lake). The home sits on a .48 acre lot with 143’ of frontage. The property was offered at $664,900 and quickly went under agreement in 31 days for $670,000. The current tax assessment on the property was an even $1 million leading me to believe that the new buyer must have been dancing around the closing table.

Over in Alton, at 42 Tranquility Lane, a nice 4,400 square foot Adirondack home built in 1997 also found a new owner. This home was constructed utilizing vintage materials from an old mill and summer camps. It features five bedrooms including a first floor master, four baths, cathedral and wood beam ceilings, additional living space and kitchen on the lower level, great views down the broads, and wonderful sunsets from the huge porches. The home sits on a manicured .60 acre lot with 147’ of shorefront with a breakwater and dock. This property was originally listed in July of 2008 for $1.777 million, relisted in 2010 at $1.499 million, reduced to $1.299 million, and finally sold for $1.075 million. The current tax assessed value was $1.317 million.

The highest sale of the month was at 88 Powers Road in Meredith. This turn of the century lodge style home was built in 1900 and sits literally on the water’s edge.  Ah, what you could do back then! This rather small and cozy, 8,100 square foot home has eight bedrooms, five baths, exposed wood beams and cathedral ceilings, massive stone fireplaces, a great wrap-around porch, and wonderful lake views. The 3.6 acre lot has 200 feet of frontage, manicured lawns, and a nice sandy beach. There’s also a five car garage for your “flivers” and a two bay boathouse to keep the woody in. Now this 110 year old home is pretty remarkable, but it only took the last 10 years of its grand life to find that elusive new buyer. It was originally listed (at least according to the MLS) way back in 2000 at a cool $6 million. It has been listed continually every year since at different price points as high as $6.7 million in 2007. The most recent listing price was $2.495 million which enticed a buyer to make a deal at $1.83 million. The current tax value on the property is currently $2,349,101 which makes me think of Real Estate 101; if the seller had the home priced correctly to start with, it might not have taken a full decade to sell it.

Over on Winnisquam there were two waterfront sales in March bringing the total number so far this year to a total of four. There was just one sale on Winnisquam in the first quarter of 2010 so we are already doing four time better! One of the homes that sold was a classic, cozy three bedroom cottage with a knotty pine interior at 57 Collins Brook Road in Meredith. It sits on a .49 acre lot with 132’ of frontage across from the Loon Sanctuary. It had all the important amenities one would want including a bathroom, outside shower, dock, a boat house, and a shed with a beer fridge! It was listed for $425,000, reduced to $409,900 and sold for $365,000 which is over the $282,900 tax assessment. It must have been the beer fridge? The other sale on Winnisquam was at 24 Bayview Drive in Belmont. This totally renovated ranch style home with a full finished walk out basement has 2,068 square feet of space, three bedrooms, two baths, cathedral ceilings, hardwood floors, fireplace, an eat in kitchen, dock, and 112 feet of shorefront. It was listed at $549,000 and sold for $530,000 with a current tax assessed value of $419,400.

A quick look at happenings up on Squam Lake for the first quarter revealed just two sales which is two more than the start to last year! The sale of significance was at 30 Laurence Road in Holderness which is known as the L.J. Webster Estate. This outstanding example of historical architecture and luxury has 7,353 square feet of living space, sixteen rooms, six bedrooms, and six baths. This impeccable home sits on a private 20 acre parcel surrounded by pristine pastures and woodlands. It has 200 feet of shorefront on Squam and views of the lake and mountains from every room in the house. This is the epitome of a luxury home from another era. This property was originally offered at $4.3 million, was reduced to $3.9 million, and sold for $3.045 million. It sounds like a place you could really get used to…

Tweet

February was a pretty good month for waterfront home sales on Lake Winnipesaukee with six propertiessold at an average price of $467,667. The monthly sales average was low because there were no million dollar sales last month. Last February there were only three sales on the lake, and two of the three sales were over the $1 million mark so the average was considerably higher at $1.248 million.

Not surprisingly, the least expensive waterfront that sold last month was an island property and it was located at 291 Cow Island in Tuftonboro. This home was a built in 1980 and it has 1,424 square feet of living space, three bedrooms, and a bath. The home has some upgrades and some work yet to be finished. The 4.17 acre lot is very private and has a newer three bedroom septic, dock, and 104 feet of frontage. This property was Fannie Mae owned and was originally offered at $250,900, reduced to $179,900, and then sold for $180,000. It was on the market only for about three months. The current tax assessment is $364,600, so I am sure the new owner is quite happy with his purchase.

Over at 3 Stonedam Island Road in Meredith, a property that was originally listed way back in April of 2007 for $1.49 million finally attracted a buyer. Unfortunately, the buyer came far too late to help the owner because he didn’t own it any more…the bank did. At the time the property was listed back in 2007 it assessed for $946,700. The home was then relisted in 2008 for an even higher t price tag of $1.649 million and then again for $1.399 million. The home is a 2,842 square foot contemporary built in 1974 and has three bedrooms, three baths, large family room with brick fireplace, and a huge master suite. The home sits on a .17 acre point of land with 180 degree views and 145 feet of shoreline. The home was foreclosed on and listed at an even $1 million with subsequent price reductions that brought it down to $629,900. It finally sold for $595,000 which is 62% of the current tax assessment is $960,200.

The largest sale for the month was at 9 Worcester Island Road in Wolfeboro. This 1969 vintage home has 2,374 square feet of living space with four bedrooms, two baths, an open floor plan, two fireplaces, finished lower level with guest quarters, a screened porch, and a large deck to sit on and gaze out at the lake . The home sits on a level .81 acre lot with 150’ of shorefront, permanent dock, and a sandy beach. It sounds pretty perfect to me. This home was originally listed at $1.09 million, was reduced to $899,000, and then sold for an even $800,000 which is 85% o the current tax assessment of $944,700. This property was on the market for 553 days.

There was only one sale on Winnisquam last month, which is one more than last February. That sale was a 3,341 square foot cape located at 70 Weed Road in Meredith. This well maintained home was constructed in 1988 and has three bedrooms, four baths, a first floor master suite, lower level family room, a deck, and patio. The beautifully landscaped .33 acre lot offers long views of Winnisquam, a perched beach, a dock, and 100 feet of shoreline. This property was originally listed back in July of 2008 for $827,000, relisted in February of 2010 for $719,000, and then reduced to $679,000 enticing a buyer to do a deal at $624,000. This property sold at about 12% higher than the assessed value of $555,300.

So all in all, February was a pretty good month for waterfront sales. And there were some bargains, or they were at least perceived to be, by the buyers. But when someone buys a property for one half of the assessed value is it really a steal or is the tax assessment way too high? When someone pays more than assessed value (as is often the case with waterfront property) did he pay too much? That is hard to answer because every property is unique and the market is forever moving. Sellers (and owners that aren’t selling) are always unhappy when their properties are assessed for more than they can sell it for and others are equally unhappy when they are assessed lower than what they have invested in the property. All I can tell you for sure is that a property is worth exactly what someone will pay for it and that can be more, or less, than the tax assessment. That kind of sums up Real Estate 101…

Tweet