It is to be expected that showings and sales on waterfront properties in the Lakes Region of NH would be slower in the winter months than in the summer. We always see tire kickers, dreamers, and wanna-be’s in the summer months but we also get most of the buyers in the warmer months. But, the buyers that are out scouting and viewing homes during the winter are probably a little more serious. They are the ones that would like to buy now and be into their waterfront retreat by ice out so they can be there to enjoy the entire boating season. That would definitely be my plan!

In January 2010 there were six properties on Winnipesaukee that changed hands at an average sales price of $1.45 million. That may not seem like a lot, but in January 2009 there was only one sale for $700,000, in Jan. 2008 only four at an (more…)

It is time to take another look around the MLS system to see what kind of potential deals can be found in the Lakes Region of NH. There is certainly enough inventory out there to choose from. Some of the older homes on the market are offered at prices that would seem to make them pretty good values particularly if you can fix them up yourself. There are always some repairs, system upgrades, or cosmetic issues to deal with in older homes but many of these homes are well built and have charm and character that is difficult to replicate in newer construction..

For example, If you’d like a stately, turn of the century home on one of the nicest streets in Laconia, the property at 229 Pleasant Street just might satisfy the “This Old House” urge in you. This home has 3,878 square feet of living space (more…)

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…)

November 2009 Lake Winnipeasaukee Waterfronts Sold

The fall and winter months are when the serious waterfront buyers are out there looking around. After all, a nice little waterfront estate would make nice Christmas gift for the wife and it is too late to enjoy the summer if you buy one in August!!

There were ten waterfront sales on Lake Winnipesaukee in November (click on picture to see details), four of which were over $1 million, but the big news is that we had the highest price waterfront sale in history on Lake Winnipesaukee at a record $7.8 million! That is one SERIOUS buyer!

This property is located at 50-60 Wagon Wheel Trail in Meredith and is a spectacular 8.3 acre waterfront lot with 1,500 feet of frontage, 259 feet of beach, and has awesome sunset views to the West and South. The property is surrounded on three sides by beautiful stone and wrought iron walls and has a magnificent stone boat house that cost in excess of $1 million to build. There is an older 2 bedroom ranch style home on the property that will undoubtedly make way for something just a tad larger and more fitting for this beautiful spot. The property was originally listed for $11 million and was on the market for 399 days.

Both the buyers and the sellers were extremely happy with the negotiated outcome and the seller has already purchased another waterfront estate just a few doors down on Wagon Wheel Trail further showing his faith in the Lakes Region Real Estate market. Roche Realty is extremely proud to have handled both sides of the transaction in this record breaking sale!

You can also see Lake Winnipesaukee waterfront homes that have come on the market in the last 7 days just by clicking here!     

Lakes Region Home is you best source for listings and detailed Lakes Region real estate market information with more detail on the waterfront market then any other site!

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The Winnipesaukee Waterfront Cottage.

Every real estate agent invariably gets a call this time of year from someone looking for their little piece of the Lakes Region of New Hampshire.  It goes something like:

Caller: “Hello, I’m looking for a waterfront cottage on Lake Winnipesaukee, do you have anything available?”

Agent: “Sure, there are lots of properties on the lake right now. It’s a great time to buy! What are you looking for?”

Caller: “Well, we’d like to be on right on the lake with a beach, a dock, at least a couple of bedrooms, preferably three, and some privacy. We don’t want to be real close to another house. And condition doesn’t matter so much. We can fix it up.”

Agent: “That’s nice. What were you thinking that you might be willing to spend?”

Caller: “Oh, I don’t know. Probably $100,000 to $150,000″

Agent: “Groan, Uh, Ma’am, I’m sorry you are not going to find anything on Winni for that kind of money. Generally speaking, you’re probably going to have to spend $400,000 to $500,000 for a  little camp on a small lot. You probably will have to look on some of the smaller lakes and then you are still not likely to find much, if anything, in that price range.”

Caller: “You’re kidding. All we want is a little cottage. Nothing much. We can fix it up. What about just a piece of waterfront land?”

Agent: “Ma’am, I’m sorry, but you can’t even buy a waterfront lot for that kind of money. Let me see what I can find you on another lake….”

Unfortunately, many buyers don’t know how expensive that little cottage on the big lake, or any lake, is these days. The average asking price on the lake right now is $1,897,188 with a median price of $1,324,450. The average sales price for a Winni waterfront (including island properties) for the 1^st half of 2009 was $838,858. That’s a long way from $150K! On Winnipesaukee, the least expensive, mainland waterfront is at 128 Mount Major Highway in Alton at $249,000. It is a 2 bedroom seasonal cottage on the opposite side of the road with a 1 bedroom seasonal cottage on the lake. It has 121′ for frontage but you are sandwiched between Rt. 11 and the lake. The next one up the price line is another seasonal, 1930’s vintage, 2 bedroom cottage with 50′ of waterfront on 12 Haven Lane in Alton for $344,900.

The least expensive waterfront on Lake Winnisquam at this point is at 907 Laconia Road in Tilton. This 5 room, 3 bedroom cottage was built in 1948, has 100′ of waterfront,  is billed as needing some TLC and is offered “as is” at $299,000.  Next up is a rehabbed 3 bedroom property built in 1960 at 38 Eastman Shore in Laconia with 80′ of shorefront for $334,900. The average asking price for Winnisquam waterfront homes is currently $656,126 and the average sales price for the 1^st half of ‘09 was $341,250. Over on Waukewan, the least expensive waterfront is at 25 Chapman Point in New Hampton for $469,000. It is a 5 room, 2 bedroom cottage built in 1965 and sits on a .25 acre lot with 100′ of frontage.  But you can find some less expensive cottages on some smaller lakes. For $199,900 you can get the 1 bedroom cottage at 3 Cove Lane in New Hampton on Lake Winona. It sits on .1 acres with 45 ft of frontage. On Locke Lake in Barnstead there is a 3 bedroom cottage at 276 Varney Rd offered at $214,900.

The point is that the dream, perhaps the myth, of owning a little cottage on the water for cheap money on the bigger lakes has evaporated over time and the inexpensive ones on the smaller lakes generally aren’t much to brag about. Prices may drop a little more during this difficult market period, but the days of a $150,000 waterfront get-a-way are sadly long gone…

Caller: “Well, if you come across a deal on a waterfront in our price range could you give me a call?”

Agent: “Sure thing, Ma’am, will do…”

178 Channel Lane, Laconia offered at $1.5 million

Waterfront property sales make up a significant portion of the overall Lakes Region of NH residential home sales volume. So how are we doing half way through 2009? In the communities that border Lake Winnipesaukee (Alton, Center Harbor, Gilford, Laconia, Meredith, Moultonborough, Tuftonboro, and Wolfeboro) there were only 30 waterfront sales (including island properties) through June 30th representing $25,195,752 in total sales and an average sales price of $839,858. Overall, there were 252 residential sales transactions in these towns with a total sales volume of $73,970,665, so waterfront sales represented about 34% of the total sales volume so far in 2009.

Comparatively, in the first half of 2008 there were slightly more waterfront sales on Winnipesaukee (33) but the total dollar volume of these transactions came in significantly higher at $46,031,845 which translates to an higher average sales price of $1,394,904. There was a total of 237 residential transactions in the 1st half of 2008 producing $110,570,858 in total sales volume for all residential transactions with waterfronts making up 41% of that dollar volume. Looking back one more year to 2007, there were 50 Winnipesaukee waterfront sales through the first half of the year with a total sales volume of $55,614,400 and an average sales price of $763,750. There was a total of 320 residential sales producing $148,608,457 in total sales volume with waterfront sales making up 37% of the total dollar volume.

So, waterfront sales on Winnie are up and down but still happening. Just not as many as we’d like to see. Perhaps the biggest concern is that as of 7/5/09 there were 215 waterfront properties (including island properties) with an average asking price of $1,884,690 currently listed on the lake. Based on the sales rate over the past year that translates 3 years worth of inventory! There are124 waterfront homes offered over the $1 million mark which leaves 91 properties under $1 million. There are 3 waterfronts currently pending including a $6.7 million property on Governors Island, so there truly are buyers out there.

Lake Winnisquam has always been a very desirable and less expensive alternative to Winnipesaukee appealing to those looking for a quieter, more laid back feeling. Sales have been slow with only 2 transactions so far this year at an average sale price of $341,250 . That compares to 3 sales in the 1st half of 2008 at an average of $492,667, and 3 sales in the 1st half of 2007 at an average sales price of $546,333. As of July 6, there were 36 waterfront properties offered on Winnisquam which represents a huge 4½ years worth of inventory on the market. The average asking price on this lake as of 7/5/09 was $624,994. There are also 3 pending sales on Winnisquam and hopefully many more to come as the summer sun eventually, and begrudgingly, shines on the Lakes Region waterfront market…

 Since the bad news on Wall Street seems to continue on a daily basis and is undoubtedly affecting us all one way or another, I wanted to give you an update on the current real estate market on Lake Winnipesaukee which might help cheer you up!

We are very fortunate that the real estate market in NH is no where near as bad as the rest of the country. There certainly has been a drop in the number of homes sold this year in the Lakes Region compared to the past few years and inventory levels are high.  But homes are still selling. If you look at all of the residential properties that have sold so far this year we have experienced about a 9-10% drop in the average sales price of a home.

However, if you look at the chart below (which is for Winnipesaukee waterfront sales only), you will see that while the total number of sales is down, the average price of Lake Winnipesaukee waterfronts has actually seen a slight increase over last year. I think that is a testament to the old adage that goes “they aren’t making any more water front”. These numbers should give waterfront owners some piece of mind knowing that their property investment is pretty sound and that values are still there if you want to or need to sell your property.

                Lake Winnipesaukee Waterfront and Island Property Sales

 We had three sales on Lake Winnipesaukee in January of 2008. That compares to 10 in January of 2007, and 6 in 2006 and 2005. I don’t necessarily think things are slowing down too much on the lake as there are currently 12 other waterfront properties pending and we are seeing increased activity on all listings. Now is the time that serious buyers are out scouting for property so that they can be on the lake for summer. 

The highest sales price honor this month goes to the property at 230 Edgewater Dr on prestigious Governors Island in Gilford. This home is a stunning 8,000 square foot Adirondack style home constructed in 2006 with all the amenities and attention to detail expected in this price category. This fabulous home sits on a 1.6 acre lot with 300 feet of waterfront, a sandy beach, and docking for five boats. You also have a garage big enough to park all seven of your cars too!

 Click on this link for rest of report:

january-2008-lakes-winnipesaukee-sales.doc