Consider listing now because what goes up must come down

Photo credit: DMR Tech

If you’ve considered selling, it may be a great time to list your Lakes Region home, while prices are still up. They can’t stay that way forever.

To illustrate, I’ll share an amazing story I was told in the late 1980’s by Bryan, a young man with an amazing mullet, one that would have made Billy Ray Cyrus proud.

While exiting his high school one wintry day, Bryan noticed that plow and wind drifts had formed a perfect snow ramp from the ground to the top of a dumpster at the edge of the parking lot.

Just then Bryan’s buddy Sean walked by with skis over shoulder. Sean was the school’s best skier.

Bryan got an idea. “Growing up in Alaska,” he explained, “A lot of us made ropes with, like, a PVC handle and fixed em’ to the back of our buddies’ snowmobiles, and we’d ski to school behind them, kinda like waterskiing, y’know?

“Now, I never did too much crazy stuff myself,” Bryan told me (mullets were not generally considered crazy back then), “but I was always pretty good at talking other kids into doing things I wanted to see get done.”

Accordingly he said, “Sean, dude! Check out that sweet ramp! You should totally jump it!”

Sean balked. He had chores and homework to do. But Bryan persisted, saying loud enough for other kids to hear: “Dude, you’ll be a legend for sure when you jump that!”

After hearing “C’mon man,” and “Dude, come on!” a couple dozen times, Sean relented. “All right, I’ll do it,” he said. “One time. No more than twenty-five miles per hour.”

Sean coordinated with Dave, a kid with a fast snowmobile. Word spread and crowd formed.

Dave tugged Sean out into the field and lined up with the dumpster. Sean nodded. Dave took off. Sean let go of the rope at the last second and hit the ramp. He catapulted somewhat awkwardly through the air and landed deep in the snowy field.

The crowd went wild. Bryan rushed out and said, “Dude, that was AWESOME! You’re the MAN! But you know what’d be EVEN MORE awesome? If you did it a little faster, maybe did a trick.”

Again, Sean objected. Again, Bryan persisted. Again Sean yielded. “Fine. Tell Dave thirty.”

They lined up again, a little further out. Dave took off, hit about thirty miles per hour and this time Sean did a “daffy,” scissoring his legs wide open, one ski pointed forward and up and the other backward and down. Then he stuck the landing.

“How’d I look—was that cool?” Sean asked Bryan.

“Dude, that was AWESOME! You’re the best, man! But you know what’d be even cooler? Is if you did it just a little faster.”

By now practically the entire student body was watching. And exerting peer pressure. Sean told Bryan, “Fine, but this is the LAST time. I mean it. Tell Dave thirty-five.”

Bryan grinned, ran to Dave and said, “Once more. This time he wants you go as fast as you can.”

Dave nodded thoughtfully, then towed the unsuspecting Sean waaay past their starting points for the first two jumps. Then Dave just opened that sled up. That engine screamed and Sean clung to the rope, skipping across the snow and going like a rocket when he hit the ramp…

Oh, shoot! I got carried away and forgot this is a real estate article. Right now you must be dying to know what this story has to do with why you might want to list your home for sale.

For now, let me just point out that in 2018 single family homes in Laconia are selling at a full-throttled pace, with a median of just 37 days on market.

That’s because our nation’s economic engine has accelerated like Dave’s snowmobile. Since 2016, the Dow is up nearly 39 percent, the S&P 500 is up nearly 28 percent and the Nasdaq has gained 41 percent. Since January 2017, GDP has grown consistently near or above 3 percent, as high as 4.2 percent. Unemployment is near a 50-year low, 3.9 million more Americans found work in the last two years, and wages have increased by 2.9 percent year over year to the highest level since April 2009. Consumer sentiment is at the highest level in 18 years.

This economic engine has accelerated Laconia single family home sales to the fastest pace since at least 2003…

Shoot! You must be wondering what happened to Sean. At this point in the story Bryan paused and assumed a sober expression. He looked me straight in the eye and said: “I swear to you, I am not making this up. I am not lying. I am not embellishing. At the top of that jump, I swear to God Sean was higher than the telephone wires…”

At the peak of his jump, Sean freaked out. His body spasmed and convulsed with fear. He waaay overshot his first two landings and disappeared into a deep bank of snow.

When he failed to emerge, Bryan and Dave waded over to the Sean-shaped crater formed by meteoric impact. Sean was moaning, dazed and covered in snow. They fished him out, propped him Weekend at Bernie’s-style on the back of Dave’s snowmobile and took him home.

Sean didn’t come to school for the next few days. When he did return he was moving stiffly.

“Dude, what happened?” Bryan asked.

“When I landed, the last thing I remember was this real loud ‘thwaking’ sound,” Sean told Bryan. “You know what that sound was?”

“No.”

“It was the sound of my knees hitting my shoulders.” He slowly unbuttoned his shirt enough to show two kneecap-sized purple/black/blue/yellow/green bruises that had formed as a result of the impact.

The moral of this story? Even if you have a great engine propelling you, what goes up must eventually come down.

Median closed prices for single family home prices in Laconia, which ramped up steadily since 2009 and hit at least a ten-year peak in 2017, are starting to waver and feel the effects of market gravity, just like Sean at the peak of his last jump.

Year-to-date, 2018 median single family home prices in Laconia, which were higher than the proverbial telephone wires in 2017 through the first quarter of 2018, are starting to drop. They’re down about seven percent presently. This is consistent with the fact that nationwide home sales have declined for four months in a row.

Rising prices and mortgage interest rates act like gravity against upward price momentum. As a result, home buyer activity has slowed, mortgage applications have declined, and prices are showing signs of arcing downward.

If you’ve ever considered selling, right now may be a great time to great time to list your Lakes Region home. The U.S. economy and area home prices are still up but they can’t stay that way forever. Homeowners who held on too long, past the prior peak in 2008, had to wait a decade for home prices to recover, just like Sean had to wait a few days before he could attend school

In home sales, as with ski jumping, it’s critical to quit while you’re ahead, before gravity catches up to momentum.

Brent Metzger is a saleBrent Metzger, Realtor at Roche Realty Group in Meredith NHs associate at Roche Realty Group in Meredith, NH.
Brent 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.

Share on facebook
Share on twitter
Share on google
Share on reddit
Share on pinterest
Home Maintenance - Person repairing wall in house

Home maintenance the difference between sold and stuck

Be honest… is your home in need of some repairs? Because the truthful answer to …

Read More →
Coins stacked up indicting inflation

Is our Current Inflation “Transitory?”

The Federal Reserve officials have described the current period of high inflation as “transitory.” In …

Read More →
ABBA Tribute performing at the Lakeport Opera House

Meet you at the Lakeport Opera House

Last Saturday, Nancy and I were invited to the Lakeport Opera House to take in …

Read More →
Picture of

The New Hampshire Advantage

All of us who live in New Hampshire’s beautiful Lakes Region certainly have lots to …

Read More →

Just like vacation seasons, vacation homes come and go

When you think about it, all homes are actually seasonal properties. Whether it’s a primary …

Read More →

Hunt for lower prices like a lone wolf

If you ever watched Saturday morning cartoons back in the day, you may recall Looney …

Read More →
Birds eye view of Lakes Region New Hampshire

Lakes Region Real Estate Market 6-Month Comparison

We are halfway through 2021 already, and as we head down the second-half stretch, I’ve …

Read More →
The "Village Store" in Gilford, NH

The “Village Store” in Gilford Has New Owners

Gilford— The “Village Store” in scenic Gilford Village, a Lakes Region landmark since 1836, was …

Read More →
Lakes Region NH - aerial view of Lake Winnipesaukee NH

Lakes Region Waterfront Sales Comparisons

I thought I would look at the real estate activity on the Lakes Region’s four …

Read More →
Island Living on Lake Winnipesaukee in NH - aerial view of Welch Island, Lake Winnipesaukee

Island Living on Lake Winnipesaukee

The thunder of motorcycles has arrived in the Lakes Region. After a long year of …

Read More →
summer fun in nh - swimming in the river

Summertime Adventures Around the Lakes Region

Memorial Day weekend has arrived, and all of us are excited to kick off the …

Read More →
Are we in a real estate bubble?

Are We in A Real Estate Bubble?

Back in April, the red hot search on Google™ was “when is the housing market …

Read More →

Roche Realty Group Sells Artie’s Subs & Pizza

Moultonborough, NH – Brian and Kara Dillard of Barrington, New Hampshire, have recently purchased Artie’s …

Read More →
Laconia, NH - City on the Lakes

Laconia— City on the Lakes

The 17,000 resident, “City on the Lakes,” is nestled on the shores of three of …

Read More →
Housing Bubble

What if it’s not a bubble?

It’s a mad mad mad world of real estate right now.  The frustrations of buyers …

Read More →
Alton, New Hampshire on Lake Winnipesaukee

Alton’s Treasures — Natural Resources

Alton, New Hampshire is a scenic community with wonderful natural resources. The town envelopes the …

Read More →
Moultonborough, New Hampshire

Moultonborough, NH — Low Taxes Attract!

Moultonborough, New Hampshire, is a scenic and idyllic community on the northern shores of Lake …

Read More →
Gilford, New Hampshire on Lake Winnipesaukee

Gilford Recognized For Its Quality of Life

Gilford, New Hampshire, has always been a popular destination and a great community to live …

Read More →
Meredith Village on Lake Winnipesaukee, New Hampshire

Meredith, NH—One of the Top 10 Best Small Towns on the East Coast

It’s always good to see our local towns highlighted in national publications, and recently Meredith …

Read More →

Economic Concerns for Real Estate

For the first time in decades, fiscal and monetary policy will likely remain easy during …

Read More →
The Ledges on Newfound Lake

The Ledges at Newfound Lake

     It is always with mixed emotions how we view the development of our natural areas. …

Read More →
Lakeview Golf Club in Belmont on 172 Acres Sold by Roche Realty Group

Lakeview Golf Club in Belmont on 172 Acres Sold

Belmont, NH- The beautiful 9-hole Lakeview Golf Club located at 89 Ladd Hill Road in …

Read More →
Nutmeg Inn in Meredith NH Sold

Nutmeg Inn in Meredith Sold

Meredith, NH- The historic country Nutmeg Inn located at 80 Pease Road in Meredith has …

Read More →
Housing Inventory Lacking - Lake Winnisquam, NH

New Hampshire’s Four Largest Lakes Lack Inventory

As we’re nearing the 1st quarter of sales activity in the Lakes Region, I thought …

Read More →
Lakes Region Real Estate Market - View of NH Lakes

Real Estate Tidbits in The Lakes Region

Here’s a quick update on the market and a few things I’ve observed that will …

Read More →

Roche Realty Group sells “The Anchorage at the Lake” Resort on Lake Winnisquam

Tilton, N.H. – “The Anchorage at the Lake” Resort located on Lake Winnisqaum and Route …

Read More →
New Construction in the Lakes Region

New Construction and Re-Sale Housing Dilemmas

I’ve seen a considerable amount of new construction and home remodeling taking place in my …

Read More →
Lakes Region NH

Lakes Region Market Competition is Fierce

We are now entering March, the unofficial beginning of our Spring Selling Season. We have …

Read More →
Home inspection report

Reasons Why You Should Not Waive a Home Inspection

We have a very competitive real estate market here in the Lakes Region due to …

Read More →
Photo of homes in New Hampshire's Lakes Region

NH’s Housing Inventory Needs One Thing — LISTINGS

This week I’d like to provide you with a summary of what New Hampshire’s Real …

Read More →
Wicwas Lodge and Lakeland School Property

Roche Realty Group sells the historic Wicwas Lodge / Lakeland School Property

Roche Realty Group, with offices in Meredith and Laconia, recently sold the Lakeland School property …

Read More →
Night picture of Laconia NH

Lakes Region—One of the Countries Hottest Neighborhoods in 2021

Imagine it’s Super Bowl weekend and there’s not a chicken wing or a pizza to …

Read More →
Hiking in New Hampshire

New Hampshire, Vermont, and Maine Peak Attractions

In my younger years in school, I always loved geography as a subject. Living in …

Read More →
Moving day

How to hand your home over to its new owner

Remember your first home? Whether it was a freshly painted rental or your first investment …

Read More →

Roche Realty Group Reports Sales of $146.5 Million for 2020

Frank Roche, President of Roche Realty Group, Inc with offices in Meredith and Laconia, has …

Read More →
Lakes Region NH vs San Francisco, CA

“Lifestyle Finder” For Your Move to or From The Lakes Region

Some studies place moving to a new location as one of the top ten most …

Read More →
Lake Winnipesaukee, NH

Winnipesaukee, Newfound and Squam Lake Accolades

Winnipesaukee, Newfound and Squam Lake Accolades It’s always fun to read articles where Lake Winnipesaukee …

Read More →
Kevin Shaw - Roche Realty Group

Kevin Shaw of Roche Realty Group is Top Producer for 2020

LACONIA — Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, …

Read More →
Center Harbor, New Hampshire

Jaw Breaking Price Increase in 2020 vs. 2019

Last week I pulled up comparisons on year to date sales of waterfront homes on …

Read More →
NH Lake Sales Activity - picture of lake with mountains and homes

Lakes Region Waterfront Sales 2020 vs. 2019

We’re getting near the end of the year, and I thought I would pull up …

Read More →
condominiums on lake winnipesaukee nh

No Better Time to Sell Your Home

We’re heading into the holidays, and all the local Realtors® are busy. They are out …

Read More →
Real Estate News Headlines - Lakes Region NH

Real Estate and Market News

There’s a lot going on out there in the marketplace. So much in the news …

Read More →
Picture of NH condominium home with pool

Affordable Housing is Always in Demand

There’s a lot of talk lately about the lack of affordable housing in the Lakes …

Read More →
Kitchen renovation

Small Improvements Make a Big Difference

During this past spring and summer, a large number of homeowners throughout the Lakes Region …

Read More →
Sales Volume and Prices of Luxury Homes Raising Nationally

Sales Volume and Prices of Luxury Homes Raising Nationally

Many national headlines are talking about the booming high-end vacation home market, in addition to …

Read More →
Support Small Businesses

Are we seeing a retail apocalypse?

During this past summer, I have been talking mainly about the exploding residential real estate …

Read More →
House and cash on a balance scale

Tips for Buyers in a “Seller’s Market”

We are currently experiencing a strong seller’s market here in the Lakes Region. 2020 has …

Read More →
Randy Miller Joins Roche Realty Group

Randy Miller Joins Roche Realty Group

Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith and Laconia, is …

Read More →
New Construction in the Lakes Region

Lakes Region Construction Activity Update

It has been a wild summer out here in the Real Estate industry!  I thought …

Read More →
The Opera House in Laconia NH

The Vision behind the “Opera House” Renovation: Revitalization of the Lakeport Area

There is a lot of excitement brewing in the Lakeport area! Previously shuttered for decades, …

Read More →

Leave a Comment