A Sale of Two Cities

Golden Gate Bridge, San Francisco

In San Francisco, “If it’s close to $500,000, it’s a joke.” In Laconia, NH a similar investment secures a personal paradise with peaceful water and mountain views…Brent Metzger compares home values in San Francisco and Laconia, NH

I recently spotted a story about the cheapest home for sale in San Francisco, the most unaffordable city in the United States. If Charles Dickens had been a real estate professional he might have opened the listing remarks with: “It was the most affordable of homes, it was the most unaffordable of markets.”

The median price for a one bedroom home in the “City by the Bay” is estimated at $820,000 (meaning half of comparable homes cost more). The most affordable home listed in San Francisco in February was an uninhabitable (hey, what do you expect?) 1,085 square foot, one bed, one bath single family home on a 0.06 acre lot about five miles from the city’s center.

San Francisco Property for SaleOriginally built in 1900, this property was listed for $399,000.

Like all good real estate professionals, the listing agent did what he could to tactfully describe the home in order to drive both interest and perceived value. “Very poor condition,” the listing bragged. “Very little likelyhood (sic) of buyer obtaining a loan,” it boasted. Hey, even Charles Dickens may have been at a loss for words when it came to describing this property charitably.

Naturally, the agent complemented his literary listing remarks with photos designed to highlight the property’s best features.

Unfortunately, the most appealing photo, a landscape shot designed to provide supporting evidence for the claim of “Terrific Bay Views!”, looks to me like a terrific view of the world’s most expensive shanty town.

The images quickly went downhill from there.

Now, I’m no remediation expert but I’ve discovered enough fuzzy, gray/green leftovers over the years to know mold when I see it, and one glance at the picture of the home’s dark sooty and battered entrance hall suggested a ceiling festooned with growth like last Thanksgiving’s forgotten cranberry sauce.

The rusty, moldy and otherwise dilapidated bathroom (with an avocado green tub) looks like a perfect location for a scene in the next installment of the “Saw” horror movie franchise. The one bedroom home’s kitchen photo inexplicably features six befouled mattresses.

Finally, had you spoken with the listing agent, he would have disclosed that none of the appliances worked, that the plumbing was not functional, and that the heating system, flooring, and interior sheetrock were all severely damaged.

With all that going for it, San Francisco’s most affordable house naturally attracted multiple competitive offers from prospective buyers. Of the 23 offers received, 12 were over $520,000 (for a property listed at $399,000), and the winning offer was for $565,000, cash.

“This is ‘affordable housing’ in San Francisco,” the listing agent said during an interview. “When you have a property that’s below a million, it’s a steal. If it’s close to $500,000, it’s a joke.”

Now that we’ve addressed the City by the Bay, let’s cover the City on the Lakes.

 

The median list price for a one-bedroom, single family home in the Laconia is presently $80,000 (about one tenth of San Francisco’s median). The highest valued one bed, single family home listed at this time is an immediately inhabitable 674 square foot one bed, one bath, four season cottage on a 0.61 acre lot (more than ten times the size of the lot in San Francisco) with a boat slip and 125 feet of Lake Winnipesaukee waterfront.

Lovingly updated since its original construction in 1966, this home is listed for $524,900 (that’s over $40,000 less than the uninhabitable home in San Francisco sold for).

The listing agent (full disclosure: his barber cuts my hair) evoked the spirit of Charles Dickens and wrote:

“You just can’t get much closer to the water than 87 Harglen Lane in Laconia NH…”

This adorable four-season waterfront cottage could be a playhouse for your inner child, a happily-ever-after home for your retirement years, or both. This personal paradise is located on one of the best lots in quiet, private, no-wake Pickerel Cove, which connects you to over 45 thousand acres of beautiful Paugus Bay and Lake Winnipesaukee water… With a nearby private beach for the community, snowmobile trails and skiing, there are infinite recreational possibilities outside, and easy-to-maintain single floor living with no stairs once you’re back inside…The property also features an external 12’ x 16’ multipurpose room which could serve as a bunkhouse for guests, an art studio, personal workshop or more…”

Naturally, the agent complemented these literary listing remarks with photos designed to highlight the property’s best features.

If you were to search MLS # 4682787 or visit www.87HarglenLane.com, you’d see that this home has legitimately terrific interior and exterior views of the water (which is literally steps away) and the Belknap Mountains.

The entrance to this property is a bright 17 by 8 foot heated lakeside sunroom with views of water and mountains.

The bedroom easily swallows a king-size bed, the bathroom is nicely finished, spacious and well tiled, and the bright, open kitchen flows naturally from the living room and is well-appointed with exotic granite countertops, high end laminate flooring and new cabinets.

If you spoke with the listing agent, he’d disclose that the appliances—including the Deco All-in-One Compact Electric washer/dryer—all function and can convey with the sale. He’d also tell you that 87 Harglen Lane in Laconia is a special property that offers a million dollar view for half the price and proves you can live large in a small home.

So there you have it, a tale of the sale of two cities. In San Francisco, “If it’s close to $500,000, it’s a joke.” In Laconia, a similar investment secures a personal paradise with peaceful water and mountain views that will make you feel a million miles away from the hustle and bustle of modern life.

Brent Metzger is a saleBrent Metzger, Realtor at Roche Realty Group in Meredith NHs associate at Roche Realty Group in Meredith, NH.  He can be reached on his cell phone at (603) 229-8322, at the office at (603) 279-7046, or by e-mail: brent@rocherealty.com

Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.

New Hampshire Housing Market Sees 65 Straight Months of Growth

New Hampshire Housing Market Sees 65 Straight Months of Growth

New Hampshire’s Median Home Sales Price Hits New Record It was announced this week by ...
Read More →
Peaks of New England

Exploring the Peaks of New Hampshire, Maine & Vermont

In my younger years in school, I always loved geography. Living in New Hampshire, there ...
Read More →
Mount Washington, New Hampshire

30 Reasons Why New Hampshire Stands Out!

With lakes, beaches, mountains, forests, rivers, and the ocean for people who enjoy the outdoors, ...
Read More →
Lakes Region Real Estate Comparisons Year-to-Date

Lakes Region Real Estate Market Snapshot

We’re entering the peak of the selling season here in New Hampshire’s beautiful Lakes Region. ...
Read More →
Home improvements

2025 Home Improvements That Pay Off in the Lakes Region Real Estate Market

Over the past year, I’ve had many conversations with clients, friends, and neighbors throughout the ...
Read More →
at Suissevale, there are approximately 426 year-round homes spread out on over 600 acres with 2,500’ of shorefront on Winnipesaukee with sandy beaches, a marina, clubhouse, and other amenities.

Strong Demand for Water Access Communities in the Lakes Region

One of our Realtors at Roche Realty Group received a call the other day from ...
Read More →
Sleeper Island on Lake Winnipesaukee currently has one island waterfront property for sale

5-Month Lakes Region Waterfront Sales Comparison

We are five months into our Lakes Region Real Estate Market for 2025. I thought ...
Read More →
Views along The Marginal Way in Ogunquit, Maine.

NH Lakes Region vs. Coast of Maine

Over the years, I’ve met many families thinking of purchasing a second home, and they ...
Read More →
Yacht Club Vista on Lake Winnipesaukee, Gilford, NH

Yacht Club Vista on Lake Winnipesaukee: A Boater’s Paradise

When you are navigating the shores of Lake Winnipesaukee, there are many water-access communities to ...
Read More →
Best State To Live In — New Hampshire at #3

New Hampshire Ranked #2 Best State for 2025

When you live in a state like New Hampshire, it’s always a good feeling to ...
Read More →
Jonathan's Landing

5-Year Sales Activity at Jonathan’s Landing on Lake Winnipesaukee

When you navigate the shores of Lake Winnipesaukee, there are 71 square miles of water ...
Read More →
The Grouse Point Club, Lake Winnipesaukee, NH

The Grouse Point Club on Lake Winnipesaukee: What’s Trending?

With 71 square miles of sparkling water and 274 islands to meander through, Lake Winnipesaukee ...
Read More →
Land's End on Lake Winnipesaukee in Moultonborough, NH

5-Year Sales Activity at Lands End on Lake Winnipesaukee

As you explore the shores of Lake Winnipesaukee, there are 72 square miles of water ...
Read More →
Northfield, New Hampshire

Investing in Northfield, NH: Real Estate Market and Trends

Northfield is a charming small town nestled along the Winnipesaukee River. Originally part of Canterbury, ...
Read More →
Aerial view of Lake Winnisquam and Sanbornton, New Hampshire

Lake Winnisquam Popularity is Always Increasing

There are literally 273 lakes, ponds, and rivers to enjoy in New Hampshire’s Lakes Region. ...
Read More →
Gilford, New Hampshire on Lake Winnipesaukee

Gilford vs. Meredith: Which Lakeside Gem Fits Your Lifestyle?

There are 25 towns and cities comprising the Lakes Region. This week, I thought I ...
Read More →
Lakes Region Real Estate Comparisons Year-to-Date

Lakes Region Real Estate Comparisons Year-to-Date

I thought I would take a look at our local real estate market and see ...
Read More →
Merrymeeting Lake New Durham

Four Years of Sales Activity at Merrymeeting Lake

Merrymeeting Lake is one of the most desirable lakes in New Hampshire, known for its ...
Read More →
Moultonborough’s Attraction and Waterfront Sales Activity

Moultonborough’s Attraction and Waterfront Sales Activity

There’s a wide selection of communities to consider when purchasing in New Hampshire’s Lakes Region. ...
Read More →
13 Spring Home Maintenance Tips for Homeowners

13 Spring Home Maintenance Tips for Homeowners

I’ve never seen the snow melt so fast in the Lakes Region. As warmer weather ...
Read More →
Five Years of Sales Activity at Samoset Condominiums

Samoset Condominium: A Five-Year Sales Market Overview

For individuals looking for an attractive water access community on the “Big Lake,” Samoset Condominiums ...
Read More →
Robust Commercial Sales Activity Over the Past Four Years

Robust Commercial Sales Activity Over Four Years

In the Lakes Region, we have seen an uptick in commercial sales activity over the ...
Read More →
Crystal Lake, Locke Lake, Sunset Lake & Halfmoon Lake – Which One Feels Like Home?

Crystal, Locke, Sunset & Halfmoon Lakes – Which One Feels Like Home?

Nestled in the heart of New Hampshire, several stunning lakes offer a unique blend of ...
Read More →
Housing Market Trends to Watch in 2025

Housing Market Trends to Watch in 2025

A lot of friends and clients have been asking me recently regarding my thoughts on ...
Read More →
Four Seasons Condominiums, located at 883 Weirs Boulevard and Paugus Bay.

5 Years of Sales Activity at Four Seasons Condominiums

When you navigate the shores of Lake Winnipesaukee and Paugus Bay, there are many water-access ...
Read More →
5 Years of Sales Activity at Paugus Bay Racquet Club

5 Years of Sales Activity at Paugus Bay Racquet Club

When you navigate the shores of Lake Winnipesaukee and Paugus Bay, there are many water-access ...
Read More →
Waldron Bay on Lake Winnisquam with 3,482 feet of shorefront.

Exclusive Waldron Bay Market Report: Is It Time to Cash In?

There are so many water-access communities in the Lakes Region to consider when looking for ...
Read More →
Winter Wonders in New Hampshire’s Lakes Region: A Season of Adventure and Tradition

Winter Wonders in New Hampshire’s Lakes Region: A Season of Adventure and Tradition

As snow covers the Lakes Region of New Hampshire, the area becomes a winter destination ...
Read More →
Balmoral – One of Winnipesaukee’s Original Water Access Communities

Balmoral – One of Winnipesaukee’s Original Water Access Communities

There are so many water-access communities in the Lakes Region that provide great memories. Let’s ...
Read More →
Four Years of Sales Activity at the Village of Winnipesaukee

Four Years of Sales Activity at the Village at Winnipesaukee

The Lakes Region of New Hampshire is known for its rural communities, quaint towns, scenic ...
Read More →
Suissevale on Lake Winnipesaukee – a Popular Community in Moultonborough

Suissevale on Lake Winnipesaukee – a Popular Community in Moultonborough

When you navigate the shores of Lake Winnipesaukee, there are 71 square miles of water ...
Read More →
Gunstock Acres in Gilford: 7 Years of Sales Activity

Gunstock Acres in Gilford: 7 Years of Sales Activity

We have so many interesting communities in the Lakes Region. Let’s take a look at ...
Read More →
Lakeside Setting at Long Bay and South Down Shores

Four Years of Sales Activity at South Down Shores and Long Bay

South Down Shores and Long Bay on Lake Winnipesaukee are two very popular water access ...
Read More →
Real Estate Goals: From Dream to Reality in 2025

Real Estate Goals: From Dream to Reality in 2025

As we approach the new year, it’s the perfect time to turn your real estate ...
Read More →
Wolfeboro New Hampshire Community Bandstand

New Hampshire’s Real Estate Data to Date

The excitement of the holiday season and Christmas approaching this week often comes from the ...
Read More →
Why Home Inspection by Licensed Home Inspectors are Critical

Why Home Inspections Are Critical

We have a competitive market here in the Lakes Region due to the lack of ...
Read More →
Lakes Region's Future: Balancing Natural Beauty and Urban Growth

Lakes Region’s Future: Balancing Natural Beauty and Urban Growth

When you drive around the Lakes Region, you will see a considerable amount of new ...
Read More →
12 Essential Winter Home Maintenance Tips for New Hampshire Homeowners

12 Winter Home Maintenance Must-Dos for New Hampshire

Winter in New Hampshire brings its unique set of challenges for homeowners. From freezing temperatures, ...
Read More →
Roche Realty Group Launches Toys for Tots Drive in Meredith

Roche Realty Group Launches Toys for Tots Drive in Meredith

Spreading Holiday Cheer in the Lakes Region! Roche Realty Group is happy to announce its ...
Read More →
Shop Local at Small Business Saturday in NH’s Lakes Region

Shop Local at Small Business Saturday in New Hampshire’s Lakes Region

We have so many things to be thankful for here in New Hampshire: plenty of ...
Read More →
Emily Brock Joins Roche Realty Group

Emily Brock Joins Roche Realty Group

MEREDITH – Frank Roche, President of Roche Realty Group, Inc, is pleased to announce that ...
Read More →
Inflated Asset Classes and the National Debt

Inflated Asset Classes and the National Debt

A question all of us get asked is have we gotten ahead of ourselves in ...
Read More →
Waterfront Home Sales Activity on 10 of our Lakes Region Area Lakes

Waterfront Home Sales Activity on 10 of our Area Lakes

Most of the leaves have fallen, and political signs are disappearing in the Lakes Region. ...
Read More →
Woman hiking at Artist's Bluff in autumn. View of Echo Lake. Fall colours in Franconia Notch State Park. White Mountain National Forest, New Hampshire, USA

New Hampshire Named Second Safest State in America

In recent years, the country has faced increasing public safety challenges and severe climate events. ...
Read More →
Lots Of Activities Left in The Lake’s Region heading towards the end of fall

Lots Of Activities Left in The Lake’s Region Before Winter Arrives

A burst of warm weather & the crisp air of autumn has extended our fall ...
Read More →
join us for a festive celebration at Twin Barns in Meredith on Sunday, October 20th starting at noon as we raise a glass to the release of the Official Beer of the NH Pumpkin Festival!

NH Pumpkin Festival’s Beer Release Party at Twin Barn in Meredith

The peak foliage and perfect fall weather is as good as it gets in the ...
Read More →
Wolfeboro Waterfront New Hampshire Lakes Region Market Update for 9 Months

Lakes Region Market Update for 9 Months

It’s Columbus Day weekend, with lots of visitors enjoying the fall spectacle of color. I ...
Read More →
The Evolution of the Lakes Region: Balancing Growth and Tranquility

The Evolution of the Lakes Region: Balancing Growth and Tranquility

The Lakes Region of New Hampshire, known for its picturesque landscapes, serene waters, and small-town ...
Read More →
Mountain Bliss: Hiking the Peaks of New Hampshire in Autumn

Mountain Bliss: Hiking the Peaks of New Hampshire in Autumn

This past Tuesday was a bright, sunny autumn day, and I had no appointments scheduled, ...
Read More →
Why Fall is the Perfect Time to Sell Your Home in the Lakes Region

Why Fall is the Perfect Time to Sell Your Home in the Lakes Region

The fall season in New Hampshire’s Lakes Region offers a unique and strategic opportunity for ...
Read More →

Leave a Comment