In search of an immaculate home...

I was searching the MLS last week for a home between $250,000 and $450,000. A home that you would consider to be of high quality, great condition, wonderfully maintained, and that has lots of character and charm. A home that I would call special. I was only looking in three or four specific communities but I really didn’t come up with much. Undaunted, I broadened the search to include all the homes in Belknap County and Moultonborough regardless of price. Fortunately, the MLS search system we use allows me to search for very specific keywords within the public description of the property so I can zero right in on the type of property I wanted. I picked “keywords” that would describe a desirable home and searched through the 1300+ homes currently on the market. The results were surprising and yielded two obvious conclusions.

Was the maid off last week??

Of the 1300+ homes available there were only 27 “immaculate” homes found! Can you believe that? Does that mean there are 1273 less than stellar house-keepers out there, or perhaps some of the homes were listed the week the maid was off, or maybe the agent just didn’t want to mention the state of cleanliness of the home? I’m not sure what keyword to use to look for something less than “immaculate”. I tried “well kept” and only 9 homes came back (one being “well kept immaculate”—I liked that one!). The search revealed only 16 homes when I plugged “pristine” into the search. That’s not a real common word to use, but who wouldn’t want a pristine home? Of the 16 homes that came up only 3 were “pristine homes”. The rest were describing the setting, the frontage, the water, the lot, and so on.

How about “high quality” homes? There were only 3 out of 1300! What quality were the rest? I tried “well built” and found only 4 properties. Now I am getting really concerned that the remaining 1293 homes are all of inferior construction…or is it again a case of vague property descriptions? It was hard to tell by some of the photos of the homes that I looked at.

What about a “like new” home. I found a mere 19 and some of those only “looked” like they were new, some “showed” like they were new, and some were in “like new condition”. All the rest of the 1281 listings therefore weren’t “like new” and had to be just plain “new”, “young”, “older”, or maybe even had Indian Shutters and an outhouse.

I found just 48 of the 1300 to be described as “well maintained”. That can’t be good. However, only 9 needed “TLC”. I highly suspect that in reality both these results are much higher. That’s good and bad.

A real Charming house!

 There were 67 “charming” properties listed. Now anything can be “charming”, but I think this word gets misused a lot as some of the homes were not remotely charming based on the pictures I saw. I love homes with “character”, but there were only 18 homes that came up in the search. That means there could be 1282 lackluster, bland homes out there. There were 48 “cozy” properties starting with a $35,000 A-Frame home all the way up to a $1.4 million cottage on Governors Island. That’s a big range for the word “cozy”.

But, there were 133 “wonderful” results! There were wonderful “communities, lots, neighborhoods, spots, lawns, locations, gardens, and floor plans”. And there was the age old wonderful “family home”. It seemed though that you had to get up in the price range quite a bit before the true meaning of “wonderful” really kicked in…

And, lastly, the keyword “beautiful” yielded 334 properties. There were beautiful “floors, lots, woodwork,

Not the kind of character I was looking for...

waterfront, landscaping, yards, etc, etc, etc…”, but only 16 beautiful “homes”. The rest therefore had to be only good looking, maybe stately, or down-right ugly. But as they say: beauty is in the eye of the beer holder, I mean beholder, so this category is somewhat subjective.

Unfortunately, I couldn’t figure out how to use multiple keywords in my search. It wouldn’t seem to let me do it. But I bet if you were looking for an immaculate, pristine, well maintained, and charming home you wouldn’t find any at all—at least by the description of the property.

So you could conclude that (1) there are few homes on the market that are really outstanding or that (2) the property descriptions could be improved. Perhaps it is little of both? There does seem to be shortage of really great, high quality homes with character and charm especially in the mid-price ranges. It’s not that there aren’t good solid houses out there, but as Realtors®, we don’t walk into too many low to mid-priced homes where the first word out of our mouths is “Wow!”. We rely on photos a lot to convey what a house is like and many times great pictures can make up for a lackluster description. But it would also help a great deal if there were honest property descriptions relaying more about the condition, quality, and how a property feels rather than something like: “This 3 bed, 2 bath, Colonial on nice 2 acre level lot, has new appliances and flooring, a large deck, plus a huge back yard. Great location. Hurry, won’t last long.” (and just for the record there were only 45 homes that had a “great location”).

So if YOU are looking for any of the foregoing attributes in a home, call me! I know where all the beautiful, high quality, immaculate and pristine homes with character and charm are. It is not an easy job, but someone has to do it…

MLS #2836450    240 NH Route 25, Meredith NH, 03253 

Offered at $209,000

This charming two bedroom ranch truly shows pride of ownership throughout.

Built in 1930 (with a new addition in the 1960’s) this lovely home has a remodeled eat-in kitchen with stainless steel appliances that is perfect for entertaining, a cozy living room with a hearth and wood stove (that will easily heat the home), a nook that can be used as a den or tv area, two ample size bedrooms, and a nice enclosed front porch. In the basement you’ll find a newer boiler and a large root cellar that will hold all the canned goods that you’ll be able to produce from your great garden space outside.

This is a very pretty piece of property with a large field in the back, a nice stand of trees, tons of garden space, a large barn with water, tractor sheds, chicken coup, and an oversized two car garage. This is the perfect home to get back to basics. Maybe you’ve always wanted some livestock, a horse or two, and you’d like to do a little gardening. This is the perfect piece of property for that and more! Enjoy a little bit slower pace and a simpler lifestyle. . .

All right, I admit it, I am a little obsessed with real estate.

I would think most people have seen House Hunters; it has been on the air a long time. But for those of you that haven’t, the premise is that buyers are looking for a new home so they enlist the aid of a real estate agent. They look at three homes in a given price range to compare and contrast and at the end of the show they buy one. Sounds pretty straightforward and simple. Every show someone buys a house! I wish my buyers could pick one out of three homes rather than one out of three hundred. I highly suspect that this feat is achieved through the magic of television rather than actually happening week after week. Either that or the buyers have been slipped something off screen. I may call to see what the producers use.

Anyway, it is very interesting to see homes in different parts of the country, the styles, and what you get for the money—or what you don’t get. That, in itself, is very educational. It is also fun to try and figure out which home the buyers will pick. I can tell you which home I would buy, and you would think, that based on what the buyers say they are looking for, and their reactions to and comments on each home, that you would know which home they will pick. Well, thing again. Maybe you have to be there?

House Hunters International is the same format, but much more interesting as you get to see homes in countries all over the world. The best shows to me are when they go to exotic places or islands like Fiji, Aruba, Mexico, or St Thomas (you know, somewhere warm with a beach and calm water). This week’s show had a couple from Detroit who have been investing in Florida vacation homes for years. They decide to take a quick trip down to Panama to buy a million dollar home. Their budget was $1.2 million and they wanted a large, open concept home, with a great kitchen, a pool, and an ocean view.

So house #1 was a $1.1 million home right on the beach with a great open concept floor plan. I don’t remember the square footage, but this place was huge and beautiful, and had a great view of the ocean but no pool. Darn. The second home seemed like a bargain at $800,000. It had the same great view of the water, a fantastic pool, was a little smaller than house #1, but didn’t have as much privacy because the house next door was very close. House #3 was way over budget at $1.4 million dollars, the largest of the three homes, and was really extravagant. The biggest flaws were that it was not an open concept home (which was one thing that they really wanted to have) and that it was $200,000 over budget. So I thought house #2 was a good buy, more manageable, and easier to take care of. House #1 just needed a pool put in, was priced right, and had everything else they wanted. I figured that’s the one they will go with. Nope, they go way over budget with house #3 and without the open concept plan that they really wanted!

Besides being entertaining, these shows highlight some of the things REALTORS® deal with on a daily basis and how differently people can view the same property. There is an old saying in real estate; “Buyers are Liars”. I don’t think that is really true. Most buyers are never 100% sure what they want until they see it and sometimes they will spend a lot more than budgeted when a property really grabs them. Buying a home is very much an exercise of personal taste and emotions. We often see buyers start out with one set of criteria for a home only to end up with something else entirely different because something really clicked about the property. I just don’t think they do it after three houses, or do they? Call me to be on the premiere of House Hunters Lakes Region.     

I have three houses to show you…

This affordable and cozy waterfront cottageon Silver Lake in Belmont, NH is the perfect place to create some lasting memories of the family having summertime fun in the Lakes Region of NH!

The cottage sits literally only steps from the water on a gently sloping .22 acre lot providing  great views of Silver Lake from the large 24′ x 10′ deck as well as from inside the home.

This cottage features two bedrooms, a nicely remodeled kitchen, a large three quarter bath, and living room. There is also a full attic that the current owners have utilized for additional sleeping space for the kids.  The home sits on concrete posts and piers.

Enjoy barbeques on the deck or play horseshoes on the lawn. With 100 feet of shorefront there is plenty of room for your new dock.

While currently utilized as a seasonal cottage, it is heated and partially insulated and could be easily be made suitable for year round use. The property is serviced by town sewer making the addition of more bedrooms much easier. It is also located close to shopping at Exit 20 providing easy access to Rt 93.

Get on the lake in time for summer!

MLS #2830831 10 Silver Lake Dr, Belmont, NH   Offered at $189,900

Are you looking for an affordable Lakes Region of NH waterfront on a great lake?

The main level of this updated home features a  huge living room area with a hearth and woodstove, a dining area, large galley kitchen with all new stainless stell appliances, a den/additional sleeping area, and a huge full bath with laundry hook ups. There is also a 9′ x 20′ enclosed porch leading on to a 8′ x 14′ deck overlooking the lake.

Upstairs there are three bedrooms and a full bath plus another room that can be used as additional sleeping quarters. The master bedroom is large at roughly 20′ x 22′ and looks out at the lake. There is new carpet, linoleum, and laminate flooring throught the home.

Outside there is generous lawn space that leads gently down to the lake and your dock.  So spend this summer (and every summer hereafter) enjoying boating and waterskiing on Crystal Lake which covers 440 acres and is one of the nicest lakes in the region.  This is also a great base for your winter snowmobiling or skiing adventures as well! So call to schedule your showing now!

MLS #2826113    27 Wakeman Rd, Gilmanton, NH 03837

Offered at $239,000

There are simply magnificent views from this tastefully renovated 1930’s Victorian cottage in Gilford, N.H. Watch the comings and goings at the Glendale Docks from your front porch or from the sandy beach. There is 249′ of fabulous frontage on this .7 acre lot plus a wonderful 38′ boathouse with outside docking.

Just down the beach is a seasonal guest house that would be perfect for the kids or your in-laws. In addition, there is another out-building that could be converted into a bunk house making this a roomy family compound. You can put all your water toys in the 2 car detached garage/barn out behind the bunk house.

The property is service by town sewer and an drilled well. It is also located in the resort/commercial zone which allows the property to be used for a variety of business purposes if desired. This property is located in the heart of the Lakes Region and is close to all the area amenities including shopping, restaurants, and entertainment facilities.

What would be your dream business here in the Lakes Region? This property could just be for you…

MLS #2825345  Offered at $979,000

Give me a call anytime to view this and other great Winnipesaukee properties…

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 with four bedrooms, four and a half baths, three fireplaces, nice original woodwork, hardwood floors, and a three level barn for your livestock. There is no doubt that it will need an infusion of cash and some elbow grease will be necessary to bring it back to its former glory, but at an asking price of $200,000 (or 68% of the tax assessed value of $295,900) it could certainly be worth the effort. This home is offered as a short sale so some patience on the part of the buyer may be necessary.

Another older home at 201 White Oaks Rd in Laconia will also no doubt need some updating but with an asking price of $139,000 (which is 63% of the tax assessed value of $229,900) there would appear to be room to do that. The home has 2,162 square feet of living space, three bedrooms, one and one half baths, a formal dining room, fireplace, hardwood floors, a nice yard with stonewalls, and a one car garage. This home has a nice location and nice potential for the right buyer.

If an old house is not up your alley, then the contemporary style home at 22 Winaukee Rd in Moultonborough might fit the bill. This 3,095 square foot, 14 room, three bedroom, three and one half bath residence has a great floor plan with lots of windows and light, soaring ceilings, hardwood floors, and detailed woodwork. There is a first floor master suite, two bedrooms upstairs, and a large family room in the walk out basement. The property is listed at $394,900 (or 83% of the tax assessed value of $475,400) which seems like a deal given the high quality construction and detail in this home.

There are also some potential deals on Winnipesaukee as well. The waterfront home at 35 Leaward Shores in Moultonborough was originally offered at $1.5 million last year and is now listed at $989,000 (or 69% of the tax assessed value of $1.43 million). This is a 4,248 square foot, four bedroom, four bath home with a guest cottage on a 1 acre lot with 300 feet of frontage and a 50 foot permanent dock. If a cottage is more your style take a look at 77 Richardson Shores in Moultonborough. This five room, 1 bedroom cottage can be used year round, and has the requisite knotty pine interior, gas fireplace and screened porch. It sits on a .96 acre lot with 100 feet of frontage and deep water docking. It is offered at $499,000 which is 88% of its tax assessed value of $569,900. Also in Moultonborough, at 121 Swallow Point Rd, there is another one bedroom seasonal cottage that comes with a bunk house that will sleep an additional four people. The cottage sits on a level, half acre lot is just steps to a beautiful sandy beach and a forty foot dock. This property was originally listed at $749,00 and has been reduced to $669,000 or 89% of the tax assessment of $747,700.

These are but a few of the many potential deals available right now in the beautiful Lakes Region of NH. But don’t just look at the “deal”, the house you buy should always meet your needs and fit your lifestyle and budget. A good buy on a home that really doesn’t fit you is not a good buy at all. The best deal of all just may be the house you love and can see yourself in for a long, long time regardless of the price.

As reported previously, the average sales price of homes is definitely down in the Lakes Region as well as the rest of the country. I thought it would be an interesting exercise to break the numbers down a little further and see how the individual communities faired over the past four years. Both the average and media sales prices peaked in 2007 and in the last two years slid lower ( 20% and 14% respectively) than the numbers shown in 2006. Of all the towns in this report, New Hampton was the only one to stay in positive territory with a slim .57% increase in the average sale price. The smallest decrease since 2006 occurred in Gilford with a 4.7% drop and Gilmanton with a 9% drop. Gilford’s strong waterfront market probably helped stabilize the average but then again Moultonborough, which had the highest number of waterfront sales (but not the highest waterfront average), dropped 28%.

The biggest decline in average sales prices was in Barnstead at 37.7% . The median sales price (the amount paid for a property where half of the properties sell for less and half sell for more) in Barnstead was also down the most since 2006 at 37.7%. This indicates that there were a lot more low priced homes (and a large number of foreclosures) being sold and thus the lower average sales price. The same scenario is true in Laconia where the average sales price dropped 22.8% and the median price dropped 28%.

As I have mentioned in previous articles, these averages and percentages don’t necessarily mean that if you live in Laconia, for example, that your property is worth 22% less then it was worth in 2006. The average sale price is reflective of market conditions, what homes sold and for how much, and in what price bracket. You might have to living on another planet not to be aware that home values have dropped, but the question is how much? I believe that this is on a case by case basis. Desirable, nice quality homes still sell in any market and bring fair and reasonable prices that are usually above the averages. The best way to determine the value of your home is to have your REALTOR® provide you with a current market value analysis based on recent similar sales in your area. But, like anything else, the real value is of your home is ultimately determined by what someone is willing to pay for it…

The inventory level of homes on the market in our Lakes Region list of towns dropped about 7% from last month and now totals 1218 listings as of November 1. This represents about a 21 month inventory of homes that are currently on the market. That is also a slight decrease from the 23 month inventory shown last month. This is good news, but we still have a long way to go to get back down to reasonable levels.
 
According to the National Association of REALTORS® existing home sales across the nation, including single family homes and condos, rose 5.5% in September.  Housing inventories on the national level fell at the end of September by about 1.6%.  A lot of this has to do with the fact that median homes prices have fallen which is partly a result of the increase in foreclosures and distressed sales. As of September 1, the national median home price was $191,600 which is 9% lower than last September. Out in California existing home sales were up a whopping 97%. The bad news is prices there have fallen 41%! The good news is that the houses are coming off the market and reducing inventory levels. They had one of the biggest run ups in home prices and therefore have the farthest to fall. When prices come down homes sell.
 
The elections are finally over and it is time to take down all the political signs, rake up the leaves, and get your property ready to sell during the upcoming holiday season. If your house is on the market there is no doubt that you have many chores to do before winter hits that will help present your home at its best for potential buyers. There will be a few more warm days to finish cleaning up the yard, doing some touch ups on the paint and trim, and maybe even getting the windows clean. Keep your curtains open to let more light into your home as November is always seems a little dull and gray. Buyers don’t like dark rooms. So that means your home needs to be spotless. If you have a fireplace always have a fire going as it sets a great mood and shows off that feature of your home. And do your best to decorate your home to the max inside and out and create a holiday feeling that buyers can admire and relate to. It just might sell your house. Selling a home during the holidays can be a little stressful, but keep in mind that the buyers that are looking now are the real serious ones.
 
Now that the elections are over I do expect that homes sales will be on the rise. Not because we have a new president or that a euphoric feeling of change has swept over the country. My feeling is that with the political signs down, buyers might actually be able to see the for sale signs again!

Residential Homes Available November 1, 2008

Report covers the towns of Aton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, Moultonborough, New Hampton, Sanbornton, and Tilton

The residential inventory in the Lakes Region of NH continues to increase.  As of the first of September there were 1347 homes available compared to 1313 last month in the twelve towns listed. This equates to 23 months worth of inventory on the market or almost 2 years worth of inventory! To put this in perspective, as of January 2006 we had about a 7 month supply of homes on the market, as of January 2007 we had about a 10 month supply, and as of September 2007 about a 16 month supply. So if you are wondering why it is taking your home a while to sell, this fact might shed a little light on it for you. There is a lot of competition in each price range. So if you want to sell in a reasonable time frame, price your property to be the best deal out there or it could still be for sale two years from now. While the glut of homes on the market is certainly not great news for people trying to sell, buyers should be taking advantage of this market. There are some really good deals to be had and interest rates have fallen to below 6% this week so it is the perfect time to buy.

We have a new, emerging crisis! One of the most iconic fixtures to be found on the American home is being pushed one more step toward extinction. While many of our younger generation have never laid eyes on these symbols of American prosperity and technology (and probably don’t care to), I have personally seen some children look at these roof top sculptures of art with awe and wonderment. “Look at that Daddy, what is that?” they exclaim. Yes, the beautiful roof top television antenna which provides free television reception is nearing extinction. As of February 17, 2009 all television broadcasts will switch form analog transmission to digital (whatever that means) rendering these works of roof top art useless unless a converter box is purchased. This could be a crisis of national proportion. What could be more stunning on a house than two, perhaps three, beautifully aged antennas pointed in several different directions? What could be more pleasing to the ears than the whir of the second most important invention in the history of mankind: the antenna rotor! So please help save this symbol of prosperity, our dedication to home entertainment, and our thirst for knowledge. Don’t discard your antenna if you have to begrudgingly come out of the 1950’s into the world of HD cable and satellites. Carefully take your antenna down. It is far too beautiful to leave on the roof anyway. Display it proudly inside your home. They fold up easily and take up much less space than the exercise equipment you currently hang your clothes on and the rotor function makes it unnecessary to reach for clothes way in the back!  So stay tuned, we’ll be right back! (I always wanted to say that).

Residential Homes Available as of Sept. 1, 2008

Report covers the towns of Aton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, Moultonborough, New Hampton, Sanbornton, and Tilton