It was a great end to the year with fifteen waterfront sales on Winnipesaukee in December at an average of $675,300. That compares to nine sales last December but at a much higher average price of $1,306,044. Only three of the fifteen sales last month were over the million dollar mark resulting in the low average sale price.

The least expensive sale in December was at 65 Cow Island  in Tuftonboro. This classic Lake Winnipesaukee summer camp has the desired knotty pine interior, wood floors, a first floor bedroom, two large bunk rooms upstairs, a wood stove, and the requisite screened porch where you can sit and tell lies all night. The camp sits on a .79 (more…)

November was not one of those banner months for waterfront sales in the Lakes Region. Winter is on the way you know, although some days it just doesn’t feel that way. There were just five transactions on Lake Winnipesaukee last month at an average $858,600. Last November the tally was double that amount at an (more…)

Halloween has come and gone and it didn’t scare off buyers looking to purchase waterfront homes on Lake Winnipesaukee. There were eleven sales at an average price of $1.17 million and a median price point of $950,000. That matches the eleven sales last October although the average sales price came in higher at $1.46 million. If there is a any bright spot or consistency in our current real estate market it would have to be waterfront sales on the big lake.

As usual, the least expensive sale (that’s the nice way to say cheapest) in October on Winnipesaukee is an island property. In fact, the three least expensive properties were on islands, but the property at 305 Bear Island in Meredith took the lowest priced honors selling for (more…)

Fall may be here, but there were still seven waterfronts sold on Winnipesaukee last month at an average price of just $714,357. That compares to eight sales last September at an average of $941,938. There were two sales over the $1 million mark compared to three last September. For the first three quarters of this year there have been 76 transactions on the big lake at an average sales price of $1.041 million and a median sales price of $840,000. For the same period last year there were 67 transactions with a slightly higher average sales and median price of $1.16 million and $858,000 respectively. So total sales are up 13% over last year which is great, but there has been a slight but definite trend toward lower priced waterfront sales. There have been 45 transaction under $1 million this year compared to 37 for the first three quarters of last year. On the high end there were three sales breaking the $3 million mark so far this year compared to five sales for the same period last year.

The least expensive sale on Winnipesaukee was at 157 Mount Major Highway in Alton. This home is actually across the street from the lake but has 60 feet of frontage and a dock on the water. This seasonal , two bedroom (plus a loft) cottage has a knotty pine interior, brick fireplace, and a screened porch overlooking Alton Bay. There’s also a waterfront deck to hang out on with a pitcher of icy Margaritas. This little place was first listed way back near the peak of the market in July of 2006 at $389,900, was on the market for a couple of years, and then re-listed in December of 2010 for $250,000. It came back on the market again this past March for $199,000, was reduced to $189,000, and went under contract for $155,000. So all it took was five years and a $234,000 price drop to find a buyer. The current tax assessment stands at $216,300. I’m not sure if the seller is ecstatic or crying?

An older 1964 vintage lake home at 420 Edgwater Drive on Governor’s Island in Gilford also sold after 675 days on the market. This 2,626 square foot four bedroom classic lake home has two full and two half baths, a living room with lots of wood, soaring ceilings and the requisite stone fireplace, a den, large kitchen, and great views of the lake. The 1.7 acre lot is level, has a sandy beach, and a permanent covered dock. The question here is whether it will be used as is or if it will make way for a newer, larger home. This home was originally listed at $2.395 million, was reduced to $1.495 million and sold for $1.15 million. It is currently assessed for $1.56 million.

The largest sale for the month was in Wolfeboro at 3 Wyanoke Gate Lane. This 3,600 square foot, open concept, contemporary was built in 1980 and features ten rooms, four bedrooms, three and a half baths, a chef’s kitchen with granite counter-tops, separate dining area, cathedral ceilings and stone fireplace, and views of the lake from almost every room. Outside there is a grand patio and a cabana over the boat house that are perfect for waterside entertaining. This home is located on a well landscaped 1.38 acre lot with 200 feet of frontage on Winter Harbor. It also has access to a private association beach and tennis courts just down the nature trail. This great property was listed at $1.775 million, subsequently reduced in steps down to $1.295 million and sold for $1.188 million after 648 days on the market. This property is currently on the Wolfeboro tax roles at a value of $1.542 million. Sounds like the new owner got a good deal…

Without trying to sound bleak, if you average the last two sales above, it took an average price reduction of $933,500 and 661 days to sell them. For all the waterfronts that sold for over a $1 million in the first nine months of 2011, the average sales price was  $346,000 less than the original asking price and they took 268 days on market to sell.

It just goes to show how long it takes to sell a property that is not priced correctly.

Over on little sister Lake Winnisquam, there were no sales last month and only one last September. I hate getting skunked. But for the first three quarters of this year there have been a total of 17 sales that sold at an average price of $508,254 after an average 99 days on the market. For the same period in 2010 there were 12 properties sold at an average price of $564,104 with an average 135 days on market.

Up on Squam there was just one sale in September and that was at 35 Grapevine Cove in Holderness. This 1974 vintage contemporary was completely and tastefully remodeled in 2003 and has a nice open floor plan. It has 1,536 square feet of lake loving space, three bedrooms, two baths, hardwood floors, stone fireplace, great kitchen with stainless steel appliances, and sliders that lead out to a large deck overlooking Golden Pond. This home sits on a level .32 acre lot with 90 feet of frontage with a sandy beach and permanent dock. This great waterfront retreat was listed at $849,000 and sold for $800,000 after only 102 days on the market. This property is currently assessed at $670,860. For the year to date there have been six sales on Squam with an average price of $1.11 million compared to just two for the same period last year. It’s great to be three times better than last year, right?

So through nine months, the total number of waterfront homes sold in the Lakes Region are up slightly from last year while prices seem to have fallen slightly. Many of the successful sales are coming after long periods of time on the market and usually after some price reductions to bring them down to a point that buyers are able to see true value and potential upside in their purchase.

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55 Shore Drive, Laconia, NH

MLS # 4086612

Reasonably offered at $269,000

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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!”

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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!

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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.

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136 Jefferson Road, Belmont

MLS #4056086

Unbelievably Priced at $224,900

This Winnisquam water access property is a true sleeper. It is hard to believe that this compact home has eight tastefully done and comfortable bedrooms. You have an old camp feel upstairs with bead board ceilings, a great stone fireplace with woodstove insert, a cute kitchen and dining area, and a wonderful front porch. The main part of the loft is used as a master bedroom but there is also another bedroom tucked off to one side plus a sleeping nook. The basement has a large family room and three more bedrooms plus a full bath all done with a little more of a modern feel. The beach is just around the corner providing access for water fun in the summer and snowmobiling in the winter. Check it out soon…

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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…

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