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

It’s the time of year when there is actually a lot of activity on Lake Winnipesaukee. The Town of Meredith just hosted another highly successfully Pond Hockey Classic with 152 teams playing on 14 rinks out on the bay. Snow machines are whizzing by and bobhouses are sprouting up all over the lake as ice fisherman claim their favorite fishing spot for the 32nd annual Rotary Fishing Derby this weekend. Waterfront home sales activity was also pretty good in January as five happy new owners also claimed their favorite spots on the lake. The average sales price was $1.17 million and the average time on market was 243 days (not including properties that were listed previously). Four out of the five sales were under the $1 million mark (still a shade more expensive than a really, really nice bobhouse). Last January there were just six sales on the big lake at an average price of $1.45 million, so we are really not off to a bad start this year.

The least expensive sale on the lake was at 126 Castle Shores Road in Moultonborough. This three bedroom, one bath ranch with 1,344 square feet of living space sits right on the water’s edge offering a true lake home feel. The home has a classic knotty pine interior, two living rooms, a screened porch, deck, a detached garage for the toys, deep water docking, and sits on a .33 acre lot with 100 feet of sandy bottom frontage. This home was originally offered at $629,000, was reduced to $539,900, and sold for $485,000 after 178 days on the market. This property is currently assessed for $633,900 so I would say that this lucky buyer got a pretty good deal. What do you think?

Another happy fisherman, I mean buyer, closed on a property in Wolfeboro at 18 North Keewaydin Shore. This cute 1954 vintage, 1,200 square foot, two bedroom cottage has hardwood floors, a knotty pine interior, fireplace, the requisite deck, and has a detached two car garage with storage above. It sits on 1.55 acres (two lots of record) with 71 feet of level frontage and an “L” shaped crib dock. It’s the perfect spot to enjoys some great sunsets…when it warms up that is. This property took 230 days to secure a buyer as it was initially listed at $905,000, reduced to $850,000, and sold for $765,000 which is just under the tax assessment of $783,400.

The largest sale of the month was at 104 Veasey Shores in Meredith. This beautiful 4,900 square foot four bedroom, seven bath, Adirondack home was built in 1997. It features a gourmet kitchen and pantry, living room with cathedral ceilings and stone wood burning fireplace (one of three), a master suite with its own screened porch, game room, two car garage, and a newly completed guesthouse. The home sits on a 2.4 acre point of land looking out at the Beaver Islands with 300 feet of frontage, a two bay boat house, and spectacular 180 degree views. The grounds feature lots of patios, walking paths, extensive plantings, and even a small pond. This fabulous property didn’t sell overnight though…it took 822 nights. The property was originally listed for $4.495 million way back on September 26, 2007, It was dropped to $3.995 million, then to $3.499 million, and finally sold at $3.2 million. The current assessment stands at $2,438,000.

There was only one sale on Lake Winnisquam last month, but that was one more than last January! Located at 372 Leighton Ave North in Laconia, this 1,584 square foot home was built in 2007 and has three bedrooms, two baths, a high end kitchen with granite countertops, a master suite with a private deck, and a full basement. It sits on a half acre lot with 100 feet of frontage and sunset views. Unfortunately, the previous owner didn’t get to enjoy them for long. The bank foreclosed on this waterfront retreat, listed it for $454,900, reduced it to $429,900, and sold it for $399,000 which is well below the $691,700 assessed value!

Even with snow up to their eyeballs, buyers are out looking for waterfront homes and they are dead serious about finding a place for this summer season. So if you’d like to sell this year, you might want to think about getting your property on the market. It’s a good time to go fishing, not only for bass, but for buyers…

Tweet

Are looking for a nicely remodeled, ready to move in to, Lake Winnipesaukee waterfront at a reasonable price?

If so, check out this turn-key property at 11 Virginia Court in Alton.

MLS #4036312   Offered at $649,999

Tweet

Buuurrr! It’s getting cold. There were ten sales in November of 2010 on Lake Winnibuuurrsaukee at an average price of $1.55 million and a median price of $1.645 million. The old lake is pretty consistent as there were 10 sales last November although the average was a little higher at $1.835 million and the median was just $925,000. What’s that mean? She’s consistent and cold (you just thought of your mother-in-law didn’t you?).  With one month to go for the year we stand at 87 sales on the big lake at an average price of $1.252 million which is well up from the 74 sales at an average price of $1.144 million for the same period last year. If you recall, waterfront sales were red hot for the first few months of 2010 (it even caused an early ice out) and that contributed to a higher sales tally for the year. Let’s hope the trend continues this coming new year.

 The least expensive honors go to a five room, three bedroom, 1900 square foot contemporary island retreat on a 1.25 acre lot with 220 feet of water frontage at 804 Rattlesnake Island in Alton. The lot appears to be one of those steep ones but the saving grace is that the property has great views and is bordered by conservation land. The property was bank owned and was originally listed at $284,900, reduced to $199,000, and sold for a mere $150,000. With a listed assessment of $321,400, I would say that this buyer believes in Santa Claus. A great buy!!

Over at 27 Umbrella Point in Wolfeboro, an eight room, four bedroom, five bath, 7,571 square foot  contemporary also changed hands just in time for the Christmas season! The listing sheet says it has one of the best lots on the lake (you can check the pictures out on my website—so you be the judge). There are some incredible 180 degree views and gorgeous sunsets to be had from this completely remodeled home which sold completely, and impeccably, furnished! This gorgeous home sits on a three acre lot with 210 feet of sublime waterfront, a boat house with direct access to the home, and a seven car garage (yes, Tiny Tim, everyone needs a seven car garage!) This property was listed at $3.39 million and sold at $2.3 million which was less than the listed tax assessment of $3.15 million. Yup, Santa Clausstrikes again!

 The biggest sale on the Winnipesaukee occurred at 14 Calverly Point Road in Tuftonboro. This 6,500 square foot Adirondack has 14 rooms, six bedrooms, and eight baths. Unfortunately, Timmy, it only has a three car garage, but no matter it has two boat houses, a tennis court, and a carriage house. This spectacular home has all the amenities one would expect in this price range including a huge living room, family room,  a well appointed kitchen, screened porch, two master suites, several fireplaces, and quality craftsmanship throughout. This home sits on a 4.4 acre lot with 204 feet of frontage and incredible views. This property was originally listed at $3.95 million, was reduced to $3.75 million, and sold for $3 million even. A very Merry Christmas will surely be celebrated in this home!

 Over on Lake Winnisquam there were just two sales in November, but there were none last November. The first sale  at 31 Pine Brook Lane in Laconia is a well maintained and remodeled 1957 vintage multi-level lake home with 2,700 square feet, three bedrooms and two baths. This home is in a nice residential neighborhood on a quiet cul-de-sac and sits on a 1.2 acre lot with a large lawn leading down to the dock on 169 feet of shoreline. Listed at $899,000, it was reduced to $699,000 and found a new owner at $657,657 (must have been the lucky number?). The current assessment after the recent Laconia revaluation is $722,600 so these buyers should be pleased. Just around the corner at 58 Shore Drive, a 4,156 square foot, five bedroom, six bath, stately brick colonial home built in 1941 found a new buyer after being on the market just 14 days. The home sits on a .79 acre wooded lot with 199 feet of westerly facing shoreline perfect for enjoy the sunsets. It was listed at $829,000 and sold for $750,000 which was considerably less than the current $932,100 tax assessment.  It looks to me like Santa is visiting a lot of waterfront properties early this year ensuring that both sellers and buyers will have a great Christmas! With just a few house shopping days before the big holiday, the question is, will he visit you, too?

My favorite Lakes Region Real Estate Market Report of the whole year is definitely the year end waterfront report. It is exciting to see what homes sold, where they were located, and how much they went for. I focus only on the sales on Winnipesaukee and Winnisquam because they have the bulk of the sales and therefore they are a pretty good barometer as to how well the market is doing. Waterfront sales are a big part of the local real estate market as well as being important to our local economy is so many ways. So how did 2009 stack up to years past?

Waterfront sales on Lake Winnipesaukee started pretty slow in 2009. There were only 30 waterfront sales (including island properties) in the first half of 2009 in the communities that border the big lake (Alton, Center Harbor, Gilford, Laconia, Meredith, Moultonborough, Tuftonboro, and Wolfeboro.) Sales did pick up steam in the second half of the year and we posted 46 more for a (more…)

MLS # 2751552  offered at $1.9 million

If you are looking for a very special, private, waterfront property compound that is all about family living on the lake and enjoying all that Lake Winnipesaukee has to offer then 178/194 Channel Lane in Laconia, NH could be for you.

Virtual Tour…

Enjoy the privacy of being the last property at the end of the road! There are two separate lots totaling .75 acres with 581 feet of shorefront.

The grounds are beautifully landscaped with manicured lawns, brick walkways, and mature plantings. There are captivating views down Paugus Bay from just about ever corner of this fine property.

Out front you’ll find the boathouse that has two 11.5’ x 35’ slips inside with 2 Pirana electric lifts. There is docking for two more boats outside giving you plenty of space for the toys.

Just past the main home is an 800 square foot guest cottage with two bedrooms, its own kitchen, and the best view down Paugus Bay on the lake!

Perfect for accommodating your distant relatives, the unruly kids, or paying guests!

Roche Realty Group Roy Sanborn | 97 Daniel Webster Highway, Meredith, NH 03253
(ph) 603-677-8420 | (cell) 603-455-0335 | (fax) 603-279-7604 | rsanborn@rocherealty.com