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
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 →
Picture of a carpenter working on a floor

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 →

Roche Realty Group Sells Trustworthy Hardware Building

Laconia – Tom Drouin of Roche Realty Group represented both the Seller and the Buyer of …

Read More →
Highland Ridge

Strong Demand at Highland Ridge With 20 Home Sales.

Sales of newly constructed homes throughout the Lakes Region have been very brisk the past …

Read More →
Hikers overlooking the lake in New Hampshire, voted "Best State to Live in America" in 2020.

New Hampshire Leads the Pack Again!

New Hampshire Leads the Pack Again! A recent article on moneywise by Esther Trattner showed …

Read More →

Hot Markets Around Lake Tahoe and Lake Winnipesaukee

I was reading a recent article on CNBC by Robert Frank the other day where …

Read More →
NH River Kayaking

Rolling down the river

A month and a half ago, we had a fun kayaking trip down the Merrimac …

Read More →

Historic Landmark is a Focal Point of Windward Harbor on Lake Winnipesaukee

Visitors to Lake Winnipesaukee have long recognized the special qualities of Windward Harbor. Its deep …

Read More →
South Down Shores on Lake Winnipesaukee, NH

How Did South Down Shores and Long Bay on Lake Winnipesaukee Get Started?

When construction started in 1981, Laconia’s South Down Farm offered an ideal picturesque setting for …

Read More →
Balmoral on Lake Winnipesaukee

Four Season Living at Balmoral on Lake Winnipesaukee

There are so many water-access communities in the Lakes Region that provide great memories. Let’s …

Read More →

An Overview of Governor’s Island on Lake Winnipesaukee

Find Governor’s Island Homes for Sale The Lakes Region is known for its abundance of …

Read More →
Suissevale on Lake Winnipesaukee, NH

Suissevale: A Desirable Community on Lake Winnipesaukee in Moultonborough

When you navigate the shores of Lake Winnipesaukee, there’s 71 square miles of water and 274 …

Read More →
Gunstock Acres in Gilford, NH

Gunstock Acres in Gilford: A Popular Water Access Community

Find homes for sale in Gunstock Acres We have so many interesting communities in the …

Read More →
The docks at South Down Shores in Laconia

The Impact of Second Homes in the Lakes Region

As I drive around the Lakes Region during this period of social distancing, I’ve been …

Read More →
At the top of Piper Mountain, New Hampshire

Hiking in New Hampshire

Hiking is an excellent (and free!) way to stay in shape, and the awesome feeling …

Read More →
Wolfeboro NH

Thankful to be Living in New Hampshire During This Difficult Period

All of us in the Lakes Region have seen a tremendous impact to our lifestyles …

Read More →

How we are embracing technology to continue to serve our clients and customers during this COVID-19 outbreak

The fast-spreading Coronavirus has created an enormous impact on all of us. Draconian measures to …

Read More →
Roche Realty Group Meredith Office

Roche Realty Group Reports Sales of $130.4 Million for 2019

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

Read More →
Kevin Shaw Realtor

Kevin Shaw of Roche Realty Group, Inc. Produces $36.6 Million in Sales for 2019

Laconia, NH – Frank Roche, President of Roche Realty Group with offices in Meredith and Laconia, …

Read More →
Warming feet by a fire at home

Home and Holiday

If you think about it, many classic Christmas songs (and movies) are centered on the …

Read More →
Thanksgiving for NH

Thanksgiving for New Hampshire

We have so many reasons to be thankful to live in New Hampshire. I have …

Read More →

There are many reasons to live in New Hampshire

It is said that the three most important words in real estate are “location, location, …

Read More →

2019 Parade of Homes to be held October 12-14

Get inspired this weekend with the latest in building trends and innovations! The 2019 Parade …

Read More →
White Oak Motel and Lakefront Cottages Sold

White Oak Motel and Lakefront Cottages Sold

Holderness– The White Oak Motel and Lakefront Cottages located on White Oak Pond has recently …

Read More →

Lakes Region real estate activity for the first 8 months has been strong

Article by Frank Roche, President of Roche Realty Group.    Real Estate activity for the …

Read More →

Historic Homes: Buy with Your Head as Well as Your Heart

Historic Homes: Buy with Your Head as Well as Your Heart I’d like to recommend …

Read More →
Northeast Storage has purchased a commercial building located at 57 Reservoir Road.

Northeast Storage purchases unique Reservoir Road building in Meredith

MEREDITH — Northeast Storage has purchased a commercial building located at 57 Reservoir Road. Tom …

Read More →
111 Church Street, Laconia

Former Lakes Region mental health building listed and sold by Roche Realty Group

LACONIA — Rick Hagan of Roche Realty Group in Meredith, NH represented the seller, Lakes …

Read More →

Live where others dream of vacationing

https://youtu.be/7G5Z4QRBzzc Weirs Beach is a recreation destination with something for everyone, including beautiful lake and …

Read More →
Gilford, NH landmark former restaurant sold

Former well-known restaurant in Gilford recently sold

Gilford, NH – A local Gilford landmark built in 1975 and operated as a restaurant …

Read More →
Lakes Region NH

Tips for buying a home in the Lakes Region

New Hampshire’s Lakes Region is an amazing place to own a home, whether it’s your …

Read More →
South Down Shores, a gated community on the shore of Lake Winnipesaukee, NH

Kevin Shaw of Roche Realty Group Inc. Produces Over $20 Million in Sales For 1st Half of 2019

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

Read More →

Lakes Region full throttle during Motorcycle Week

You can already feel the area rumbling with visitors and activity this week as the …

Read More →

Is home ownership right for you?

There are advantages to both buying and renting, depending on your current lifestyle and financial …

Read More →

New Hampshire Ranked #2 Best State in the USA for 2019

The good news is out! New Hampshire as a state performed exceptionally well in a …

Read More →
explore nh lakes

Winnipesaukee Waterfront Sales Activity Spring 2019

The weather is getting warmer, the “Big Lake” is thawing out and the real estate …

Read More →
searching for homes on the internet

The homebuyer’s online search is like online dating

Searching for homes online can be a lot like trying to find love through online …

Read More →

The Importance of Getting Pre-Approved for Your Home Mortgage

If you want to be an attractive buyer in a competitive housing market, you’ll definitely …

Read More →
Lake Winnipesaukee, Moultonborough, NH

Moultonborough homes sold at highest prices, fastest pace ever

It’s a historical time to sell a single-family home in Moultonborough, New Hampshire. Data suggest …

Read More →
For sale by owner sign next to a house

For Sale By Owner? The facts about risk and reward

If you’re trying the “For Sale By Owner” (also known as FSBO/fizbo) approach to selling …

Read More →

What to do if your listing expires

Expired listings are a frustrating reality in real estate. If you want to change the …

Read More →
Meredith, New Hampshire

Window of opportunity open for Meredith home sellers

If you own a single family home in Meredith and have been waiting for a …

Read More →
Gilford, NH

It’s an unrivaled time to sell your single family home in Gilford

If you own a single-family home in Gilford, it’s an unequalled time to sell. It’s …

Read More →

Why it’s a great time to sell your home in Laconia

If you own a single-family home or condominium in Laconia, it might be a great …

Read More →

Leave a Comment