Buyers Look to Assessments to Guide Them on Property Values

As people search for Winnipsaukee or Squam Lake real estate, they often ask about the town assessements for the Winnipesaukee or Squam listings that pique their interest.  In purchasing a commodity that has a many intangible qualities as Winnipesaukee or Squam Lake waterfront real estate, potential buyers look for whatever they can find to help guide them to what they perceive as a reasonable offering price for a waterfront  property. Certainly, buyers know very quickly whether or not a waterfront property seems to be a fit for them, but how to quantify the value of the fit is a dilemma.

Fewer Sales Render Regression Analysis Nearly Useless

In towns where, year to year, there are fewer sales in particular price ranges, the task to find a reasonable offering price for a similar home becomes more difficult for buyers.  For Squam Lake properties in Holderness, for example, the assessments seem very low compared to the listing prices of Squam properties of $1,500,000 or more offered in the Northern New England Real Estate Network.   When there are few similar sales in a period of 2 or more years, the town assessments are often low compared to the listing prices that one will see on the market.

What sense is a buyer to make of this?    The Sellers have decided on the listing price of their properties and they are not willing to sell their properties anywhere near the town assessments.  The cost to build per square foot does not seem to fit in any town assessment calculations.  Properties that would cost $400.00 per square foot to build sometimes have the same building value on the assessment as homes that would cost $200.00 per square foot to build.

The Cache of Squam Lake Property?  Squam Lake Land for Sale is Almost Impossible to Find.

As far as land values on Squam Lake, how can they possibly be quantified?  There are only 2 Squam Lake land parcels offered in the Northern New England Real Estate Network Multiple Listing System ( MLS).  Only 1 of them has open views and both are offered at $1,300,000 or more.

Scarcity of  Winnipesaukee Land or "Tear-Downs" in Meredith is One Factor in Determining Values of Newer Winnipesaukee Construction Homes in Meredith

Meredith NH is another Lakes Region town which has seen few sales in the higher price ranges in the past 3 years. Only 5 Winnipesaukee homes have sold for more than $2,400,000 since January 1, 2009. There are currently 11 Winnipesaukee residential real estate listings in the Northern New England Real Estate Network offered at $2,400,000 or more in the town of Meredith NH.  Meanwhile the cost to replace these homes has not gone down at all.  Building costs have risen.  "Tear-downs" or raw land on Winnipesaukee are extremely difficult to find, particularly in the town of Meredith.  Sellers of Winnipesaukee Meredith homes realize the singular characteristics of their waterfront land and are content to wait for the buyer who will recognize them.

Moultonborough, NH is a town which often sees the most waterfront sales in a given year, partly because Moultonborough has far more Winnipesaukee waterfront parcels than any other town.  There have been 7 Moultonborough residential Winnipesaukee real estate sales closing at more than $2,400,000 since 01/01/2009.   There have been 10 Moultonborough residential Winnipesaukee real estate sales closing at more than $2,000,000 since 01/01/2009.  Meredith, NH had 7 homes closing  at $2,000,000 or more in this same time period.  For Meredith Winnipesaukee residential real estate listings closing between $1,100,000 and $2,000,000 during this same time period, the number dwindles to only 4 homes.  In Moultonborough during this time period, January, 1, 2009 to July 21, 2012, the number of sales from $1,100,000 to $2,000,000 was 28.  This is an extraordinary difference.

Though the Inventory Increases, Bidding Wars are Also Part of the Landscape

Though the inventory in some price ranges continues to increase, bidding wars are more and more common. I've recently represented 2 buyers who were involved in bidding wars for Meredith Winnipesaukee homes priced between $800,000 and $1,300,000.  When Meredith real estate in this price range has many of the features buyers want....it moves quickly! 2  Meredith Winnipesaukee residential real estate listings listed at between $1,200,000 and $1,300,000 are now under contract to buyers.  Bidding wars on Winnipesaukee real estate in other towns have been occurring throughout the summer.

Even in the Price Ranges Where Sales have Been Increasing, Assessments are Not a Formula to Determine Value.

In Moultonborough, though there have been many sales closing between $1,100,000 and $2,000,000 this year, buyers for these properties often still struggle with what reasonable offering prices are on Winnipesaukee real estate listings.  Looking at town assessments does not give buyers any sort of formula to use when trying to determine a reasonable offering price.  50 Rocky Winds, Moultonborough is assessed for $1,986,300 and closed for $1,825,000 this Spring.  7 Blackey Cove, Moultonborough is assessed for $1,343,100 and closed for $1,140,000. Garnet Point, Moultonborough is assessed for $1,233,800 and closed for $1,335,000. 297 Long Point Point is assessed at $1,203,700 and closed for $1,300,000. 39 Gregson Lane, Moultonborough  closed for $1,450,000 and is assessed for $982,800.

Following a comparison of the selling prices of recent sold Winnipesaukee homes to town assessments for these properties is a bumpy road to travel at best.  Tax card infromation is often inaccurate.  The fact that the town of Moultonborough may or may not put any additional value on waterfront of more than 150 ft. on any particular property is another reason Moultonborough assessments are difficult to reconcile with value.  Unique Winnipesaukee properties in Moultonborough, and on all of Winnipesaukee and Squam, are the hardest to quantify in dollars.  When there are few, if any, "comparable' sales, buyers are moved by the intangibles to try to determine values. Though the task is difficult, nothing worthwhile in life is ever easy. As the poet Rainer Maria Rilke wrote,"Have  patience with everything unresolved in your heart."

 

 

Nicole's New Listing 72 Catlin Estates Road on Winnipesaukee

There are locations and there are locations. Moultonborough's Kona area is one of the most sought after locations on Winnipesaukee's  200 plus miles of shoreline.  Nestled along the beautiful coves and beaches of Kona, 72 Catlin Estates, Moultonborough offers some of the longest and best lake views in Kona.  The home was built by Wood and Clay Fine Homes, one of the foremost luxury builders on Winnipesaukee and in New Hampshire's Lakes Region.  The windows of the Winnipesaukee home are expansive and take full advantage of the panoramic lake and mountain views.

The 9' ceilings, hardwood floors and open concept floor plan on the main level bring in light and create a relaxed, yet elegant ambiance.  The family room on the main level opens to an enclosed porch and then to the deck.  The 9 room home, as well as the deck and crib dock at water's edge are all great spots to enjoy the westerly exposure, sunsets and the lake, island, and mountain views.  The three upstairs bedrooms are spacious and sun-filled.  One bedroom even has its own deck.  This lakeside lot  is landscaped for privacy.  Large rhododendron bushes and large pine trees , as well as careful siting of the home, keep it protected from any passers by on this quiet road. A 3 car garage could be built on the lot subject to town and state permits.

The .5 +/- back lot included in this offering assures additional privacy.  The two downstairs rooms are perfect for games rooms or overflow guests.  With beautiful gardens and walkways, tall pines for privacy, this home offers an opportunity to offer your own piece of paradise on Kona's shoreline. Listed by me, Nicole Watkins.  Call me for a private tour.  (603) 707-7575.  Winnipesaukee property in this price range is hard to find!

Moultonborough NH - This sprawling 5.38 acre family compound has 3 separate homes, each with its own kitchen, large screen porch, living area, bedrooms and lovely lake view.   112 and 115 Deerhaven is comprised of 2 lots of record totaling 5.38 acres with 200 feet on Winnipesaukee. 3 Separate Homes. 112 Deerhaven living room with fireplace and expansive windows Main Home Features great Room with Floor-to Ceiling Fireplace, Vaulted Ceiling and Expansive Windows. The 3 separate homes total 6026 square feet of finished living space, including a main home with 5 bedrooms. Interior features of the main home include a 4 season sun room, enclosed porch, extensive decking, and a vaulted Living Room w/ lots ofwindows and a floor-to-ceiling fireplace. Deerhaven offers spectacular lake and mountain views, large lakeside patios... (View the new virtual tour of 112 and 115 Deerhaven.)  One of the most desirable ways to enjoy the pleasure of friends and extended family if to have them nearby, but yet to have privacy for all as well.  112 and 115 Deerhaven offers spectacular lake and mountain views, large lakeside patios, a deck that could not be duplicated today, and a large sandy beach.  112 and 115 Deerhaven are located in a quiet bay, near the end of a quiet road.  Biking and walking trails are nearby on Moultonborough Neck Road.  View the listing sheet for 112 and 115 Deerhaven, Moultonborough, NH.  Or call now for details, color brochure, or to make an appointment to tour this one-of-a-kind family compound. (603) 707-7575. Beach at 112 & 115 Deerhaven on Winnipesaukee. A Family Compound in a big bay perfect for water-skiing, swimming, or canoeing.

 Few new construction homes under $2,000,000 and few estate parcels left on the lake

With few new construction homes under $2,000,000 and few estate parcels left on the lake, 115 Windermere and similar properties are getting increased interest from Buyers.  Sellers are still reluctant to bring their prices down, knowing that no one is making  more land around Lake Winnipesaukee.  The current inventory of  new and newer homes available under $2,000,000 has been rapidly bought and removed from the available inventory in the first half of 2012.  115 Windermere is an estate parcel with an older year round home offering 1.6 acres, 235 feet of Winnipesaukee waterfront, and a sandy beach.

Located near the middle of Lake Winnipesaukee 115 Windermere is a great spot to access the towns around Winnipesaukee by boat.  Boating in the vicinity offers some of the most beautiful vistas on Winnipesaukee. 115 Windermere is an updated older home with knotty pine interior, fireplace, porch and deck sited very near water's edge. For people looking for a cottage style year round home to use until they build their dream home, 115 Windermere is a perfect opportunity. MLS # 419350 has just had a $200,000 price reduction and is now offered at $1,195,000.  Call now to tour this Moultonborough Winnipesaukee home. (603) 707.7575.

Kona Area Dream Parcel Seldom is available on the Winnipesaukee Market.

This Kona area custom built home in a protected Kona bay has a magnificent sugar sand beach and gentle waterfront. Nestled on a level lot at the end of a paved road with a long cobblestone lined driveway, this NH waterfront property has many unique features that have to be seen to be appreciated. The careful siting and adjacent woodlands of this finely detailed Craftsman Style home affords unusual privacy. A charming separate guest studio with its own garage, is also sited for privacy.  A manicured lawn and gardens create a park like setting for both the main home and guest suite. The main home's angled front entry leads to an open concept floor plan that provides panoramic water views with beautiful sunsets.This 3 bedroom, 12 room home also has a 580 ft. nearly finished bonus room over the main house garage, which could be finished for additional square footage.

View the NEW VIDEO of 60 Ruppert Road

View the new video of 60 Ruppert Road, a Moultonborough NH Winnipesaukee waterfront, by visiting the listing details page and scrolling down until you see a frame of this new video.

Hardwood Floors, Furniture Finish Natrual Woodwork, and an Architect's Careful Design

The main house has hardwood floors throughout and furniture finish natural woodwork. Red birch, random width floors have a warmth that combines the best of cherry and fir wood. A well-designed kitchen with walk in pantry adjoins an entertaining area with wet bar. The living room features a two story fireplace. A four season sun room compliments the master bedroom suite. The open concept dining room has a barrel ceiling and water views on 2 sides. A laundry room and office complete the first floor rooms. The large 2nd story loft has two  separate areas for reading, office space, relaxing, watching television or just enjoying the lake views.  A craft room, 2 en suite bedrooms and the large, nearly finished bonus room complete the upstairs rooms.  Like the 1st floor, the 2nd floor has panoramic views and the sort of privacy that is reminiscent of being on an island. The architect and builder created a wonderful flow thought the home that takes into consideration the unique Winnipesaukee waterfront lot on which this property was sited. Waterfront amenities at 60 Ruppert Road, Moultonborough include a 50 dock and 2 moorings.

Beautiful Bay Could Convert Everyone into avid Swimmers!

The beautiful bay has clear sandy water and a sugar sand bottom.  The gentle waterfront is hard to resist and not only is it perfect for those who are not swimmers, but it may turn even reluctant swimmers into avid ones!  Enjoy all day sun, or find the shade of beautiful old trees or the abutting woodland if desired. If you haven't experienced the Kona area yet, you owe it to yourself to experience this property first hand.

With the Kona location there is lots to do, not only in summer, but  in Fall and winter as well, e. g., ice skating on the lake, cross country skiing and snowshoeing on trails off Jacobs/Colby road in the town forest, snowmobiling on trails off Moultonborough Neck Road, ice fishing, as well as skiing at your choice of many ski resorts within an hour and fifteen minutes from the Kona area of Moultonborough, NH.

With Some of the Best Interest Rates in Years, Now May be the Time to Buy!

Contact me for Information on Rates.

If you're curious about the Winnipesaukee real estate market, you may also want to visit all Winnipesaukee waterfront listings in Moultonborough or all owned Winnipesaukee or  all shared Winnipesaukee real estate.  Waterfront listings are available in many price ranges.  With low interest rates, now may be the time to buy. St. Mary's Credit Union offers very low rates on jumbo loans with as little as 5% down to qualified buyers. Local banks such as Laconia Savings Bank and Meredith Village Savings Bank also have very competitive rates. Contact mefor details.

11 Fuhr Drive Captures the Essence of Peace and Privacy Level Lot with a Sandy Beach and a Boathouse Sited on 1.4 acres of land in the desirable Hermit Cove area of Winnipesaukee, this lovely lot has a large sandy beach and is bordered on one side by a large brook that runs for much of the year.  The brook and flows into Winnipesaukee and is filled with fish for part of the Spring season. The 140 feet of Winnipesaukee waterfront offers privacy and, aside from the large sandy beach,  features a new 1 bay boathouse with room for a boat with a large beam, and a dock for sunning and enjoying your lake views or docking an additional boat. Ideal Location for Swimming, Kayaking.  Near Biking and Walking Trails. Swimming and kayaking are ideal activities for this protected location.  While this large cove is protected by an island... the center of the Winnipesaukee is just beyond this tranquil spot. Biking and running trails are nearby on Moultonborough Neck Road, which intersects with Fuhr Drive, where this property is located.  Jo Jo's Country Store is within 1 1/2 miles for shopping convenience. Interior Offers 3 Bedrooms on Entry Level - Wainscoting,  Fireplace,  and Sliders to deck 11 Fuhr Drive Captures the Essence of Peace and Privacy Recently and tastefully renovated,he entry level interior of this Moultonborough home for sale has wainscoting, a fireplace in the living room, and an open concept living room/dining area. The living room has sliding glass doors that open to a large deck. Living room, 3 bedrooms, 1 bath, kitchen, and dining area upstairs. A family room and 3/4 bath, and 2 rooms with additional partially finished space are downstairs. If quality lakefront, a and privacy are what you seek, please contact me to view my 11 Fuhr Drive listing.  You can't capture the feeling of this lot with words or photos.  It has to be experienced first hand.

2011 Market Statistics for Lake Winnipesaukee Waterfront Sales

Our company, Lakes Region Realty, is a leader in Lake Winnipesaukee waterfront sales.  We were happy to see that 2011 saw an increase of nearly 10% in the number of total transactions on the "Big Lake." We remain optimistic that this trend, which started in 2009, and which is reflected in the number of pending waterfront sales in the first quarter of 2012, will continue. Interest Rates have never been better. There were 107 Lake Winnipesaukee waterfront home sales in 2011, with six of them selling for more than $2,400,000 and eight of them closing for more than $1,800,000.  Our Moultonborough office was involved with four of the eight sales over $1,800,000, representing the Buyer and/or Seller, according to statistics drawn form the Northern New England Real Estate Network.

Top Selling Firm for Meredith & Moultonborough Winnipesaukee Waterfront Sales 2011

For Lake Winnipesaukee waterfront sales in the towns of Meredith and Moultonborough combined, we transacted 25 sales compared to 19 and 8 sales by our 2 nearest competitors. For Moultonborough dollar volume, we had $16,891,500 compared to $9,056,000 and $2, 991,750 by our 2 nearest competitors.* (Statistics drawn from the Northern New England Real Estate Network for the year 2010, and for Lake Winnipesaukee real estate in the town of Moultonborough, NH).

Lake Winnipesaukee Real Estate Market Trends 2012

Pending and Contingent Lake Winnipesaukee Sales as of March 17, 2012

As of  Saturday March 17, there are eleven pending and contingent Lake Winnipesaukee home sales according to the Northern new England Real Estate Network.  Of these eleven Winnipesaukee home sales, the five contingent home sales have an average listing price of $942,760 and an average number of days on market of 286. The six pending

Winnipesaukee home sales have an average listing price of $1,330,255, with a high listing price of $3,100,000 for 13 Friends Point on Tuftonboro Neck and a low listing price of $599,000 for 83 Chase Point, Tuftonboro.  The average number of days on market for the six pending sales is 315.  13 Friends Point is a 1920 Winnipesaukee cottage on 1.75 level acres with 400 feet of stunning Winnipesaukee waterfront. 83 Chase Point is a 1960 cottage on .50 acres with 76 feet of Winnipesaukee waterfront.

 The Average Selling Price of Winnipesaukee Home Sales is Rising

The average selling price of Winnipesaukee homes is rising as we near the end of the first quarter of 2012. As far as NNEREN statistics, on Sunday March, 4th, there were 15 pending and contingent sales on Lake Winnipesaukee, but the average listing price of the Lake Winnipesaukee pending sales was only $955,320. The average price of the contingent sales was $965,767; the average/median days on market for contingent sales was 216/183; the average/median days on market for pending sales was 231/180.

There is one pending land sale on Lake Winnipesaukee.  This waterfront land parcel on Lake Winnipesaukee listed for $949,000 and was the last parcel available in the Powers Road, Meredith subdivision.

Winnipesaukee Waterfront Sales in 2012 year to Date (Closed as of March 17, 2012)

As of March 17, 2012, nineteen Lake Winnipesaukee homes with owned waterfront have closed according to statistics in the Northern New England Real Estate Network .  The average selling price was $783,447 and the average number of days on market was 200 for these Winnipesaukee home sales. Closing the week on March 18, 2012, was the 24 Notla Lane Alton waterfront, which listed for $549,900, which is a 1950 cottage on .36 acres with 100 feet of waterfront

Other March 2012 Closed Winnipesaukee Home Sales

7 Blackey Cove Road, Moultonborough closed  on March 2, this 1989 built 3 bedroom home with western exposure  and a sand beach closed for $1,140,00.  The Listing price was $1,499,000.  102 Deerhaven Road, Moultonborough  also closed this week.  102 Deerhaven had a listing price of $999,000 and closed at $935,000.  Our Firm worked with represented the sellers of both properties and the buyers of 7 Blackey Cove Road, Moultonborough.   Please contact me if you have questions about these sales.

Decades of Leadership by Lakes Region Real Estate Broker/Owner.

Part of our strength is that we have had the same Broker/Owner for decades who has 34 years experience in real estate sales as well as developing and building in the Lakes Region.

Recent waterfront home sales in Meredith and Moultonborough included 41 Cook's Point Road, Moultonbrough, NH.   41 Cooks Point is a 1969 year round cottage on .67 acres with 287 feet of Lake Winnipesaukee waterfront in Moulotnborough's desirable Kona area.  This property has southwest exposure and panoramic, long lake views to Gunstock Mountain!  With wonderful privacy and crystal clear sandy bottom waterfront, this rare waterfront property was listed for $1,245,000 and closed on August 15, 2011 for $1,100,000.  It was listed by officemate Kalthleen Kelley and sold by  me, Nicole Watkins.  (Listed and sold by Lakes Region Realty Group.)

114  Powers Road, Meredith closed August 16, 2011.  It was listed for $875,000 and sold for $842,000.  It was listed by me, Nicole Watkins and also sold by one of my office mates.  ( Listed and sold by  Lakes Region Realty Group).  114 Powers Road is a 2 bedroom recently renovated year round 1981 home with 200 feet of waterfront/beachfront and sited on .70 acres.

Of the 119 Lake Winnipesaukee waterfront homes on the market it Meredith and Moultonborough , not including island properties, 4 are under contract and my firm is working with the Buyer and or Seller in all 4 of these transactions.

(Statistics drawn from Northern New England Real Estate Network MLS as of September 5, 2011)

Seventeen (17) Moultonborough listings are new to the market as of the past thirty (30) days. (Since February 6, 2008). The average asking price is $1,007,682. The median asking price is $549,000. The average number of days on market is fifteen. Five (5) Moultonborough, New Hampshire homes sold in the past thiry (30) days.

(*Based on information from the Northern New England Real Estate Network, for the town of Moultonborough for 2006 and 2007 through November 19th of 2007. This information includes residential properties only, NOT condos or land).