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.

winter Snowmobile

Real Estate in a Winter Wonderland

As I drove around the other day with my kids, I was looking at some ...
Read More →
Roche Realty Group Host Annual Toys for Tots Drive, Invites Community Participation

Roche Realty Host Annual Toys for Tots Drive

As the holiday season approaches, Roche Realty Group is excited to announce the kickoff of ...
Read More →
Small Business Saturday New Hampshire

Small Business Saturday: Living Gratefully in New Hampshire

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

Annie Brown Joins Roche Realty Group

Meredith — Frank Roche, President of Roche Realty Group, Inc., with offices in Meredith and ...
Read More →
Gunstock Mountain in Gilford, NH

Gunstock Upgrades for Winter as Real Estate Shows Resilient Growth

As the leaves of New Hampshire’s forests transition from the vibrant hues of fall to ...
Read More →
Preserving New Hampshire's Lakes

Preserving New Hampshire’s Lakes: A Community Effort

With over 250 lakes and ponds throughout New Hampshire’s Lakes Region, there are unlimited outdoor ...
Read More →
Home Inspections — The Uninspected Abode: A Spine-chilling Tale of Regret and Terror!

The Uninspected Home: A Spine-chilling Tale of Regret and Terror!

One night, not many years ago, in a quaint, somber town nestled amidst the haunting ...
Read More →
Interest Rates

Interest Rates Impacted by Treasury Yields

It looks like the national picture for housing stats has not improved in recent months; ...
Read More →
Local Housing Crisis: Challenges and Solutions

Local Housing Crisis: Challenges and Solutions

Our communities are facing a shortage of both residential and commercial properties, a scenario that’s ...
Read More →
Fall Splendor In New Hampshire

Fall Splendor in New Hampshire

New Hampshire in the fall is akin to stepping into a live canvas painting — ...
Read More →
Samoset Condominiums on Lake Winnipesaukee

Condominium Sales Surge in New Hampshire’s Lakes Region!

As we start entering October’s bright fall colors, I thought I’d take a look at ...
Read More →
Empowering your offer

Empower Your Offer in a Sizzling Real Estate Market!

As a seasoned real estate professional, I often consider the market conditions to keep myself, ...
Read More →
Reviews of New Hampshire's Lakes Region

Reviews of New Hampshire’s Lakes Region

We’ve had a great summer in New Hampshire’s Lakes Region, and we’re approaching the brilliant ...
Read More →
Waterfont Sales Activity Wolfeboro, New Hampshire

Waterfront Sales Activity in the Lakes Region

As we head into September, I have compiled data and insight into what is happening ...
Read More →
Labor Day Weekend

Labor Day Weekend in The Lakes Region

Labor Day Weekend has arrived, and the weather forecast for the Lakes Region looks fantastic, ...
Read More →
Interest Rates

The Mortgage Interest Rate Dilemma

This past week, we saw an increase in mortgage rates following a rise in bond ...
Read More →
Best State To Live In — New Hampshire at #3

New Hampshire 3rd Best State To Live In!

WalletHub just released its rankings of the best state to live in for 2023. It’s ...
Read More →
City/Town Comparison can make the research process easier

City/Town Comparison For Your Move

Some studies place moving to a new location as one of the top ten most ...
Read More →
New Hampshire Real Estate Lacks Inventory

New Hampshire Real Estate Inventory Crisis

A Multifaceted Analysis of Rising Interest Rates and Beyond New Hampshire is currently facing a ...
Read More →
Peaks of New England

Exploring the Peaks of New England

In my younger years in school, I always loved geography. Living in New Hampshire, there ...
Read More →
Climate Exodus: Insurance Companies Seeking Refuge from High-Risk Sates

Climate Exodus: Insurers’ Fleeing High-Risk States

Flooding, Forest Fires, Heat Waves, Tornados, oh my! The recent stretch of weather has certainly ...
Read More →
Real Estate News Headlines - Lakes Region NH

Real Estate Tidbits to Consider

Here are a few real estate tidbits I’ve pulled to keep you up to speed ...
Read More →
Roche Realty Group Sells out Lakeside at Paugus Bay

Roche Realty Group — 6 Months in Review

Closed sales for the first 6 months of 2023 have been impressive at Roche Realty ...
Read More →
Newfound Lake

Lakes Region Waterfront Sales Activity 6 Month Comparison

Below you will find data and insight into what is happening in sales activity on ...
Read More →
Buying Land

Buying Land in New Hampshire — Comprehensive Guide

New Hampshire, also known as the Granite State, offers a diverse landscape that includes picturesque ...
Read More →
Weirs Beach: A Tale of History, Community, and Natural Beauty

Weirs Beach: A Tale of History, Community, and Natural Beauty

As we celebrate the 100th anniversary of the oldest bike week in the country, let’s ...
Read More →
First Five Months of Lakes Region Real Estate

Five Months of Lakes Region Real Estate Activity

The month of May’s real estate statistics just came out for New Hampshire, and it ...
Read More →
A bird's eye view of Long Bay on Lake Winnipesaukee

South Down Shores and Long Bay on Lake Winnipesaukee — Its History

When construction started in 1981, Laconia’s South Down Farm offered a picturesque setting for condominium ...
Read More →
Memorial Day — rows of gravestones with flags in military cemetery

Memorial Day Weekend Arrives in the Lakes Region!

The long-anticipated Memorial Day weekend has arrived after a long winter, and the Lakes Region ...
Read More →
Unlike the dandelions new listings aren't popping up in the Lakes Region

Will Listings Start Bloom Like Dandelions?

Will Real Estate Listings Bloom Like Dandelions? During my rides around the Lakes Region, I’ve ...
Read More →
boat launch

Public Boat Launches in the Lakes Region

New Hampshire’s Lakes Region is a paradise for boating enthusiasts and we are now entering ...
Read More →
Real Estate Scams

Real Estate Scams to Be Aware of

One of my Realtors® received a call today from a gentleman purporting to be the ...
Read More →
Brant Point Lighthouse, Nantucket overlooking the ocean

From the Lakes Region to Nantucket

I spent a few days on Nantucket Island this past week for a quick getaway. ...
Read More →
Lakes Region Real Estate Is Still Hot

Lakes Region Real Estate Market is Sizzling

The real estate market in the Lakes Region and the state of New Hampshire is ...
Read More →
Lake Winnipesaukee Kayak

Buying a Lake House — Where to Start?

Owning a waterfront home in New Hampshire’s Lakes Region is a treasured experience. For many ...
Read More →
Home improvements

Home Improvements Before You Sell

One question I commonly get asked is, “What type of projects or improvements should I ...
Read More →
Single-Family units are down

How’s the Lakes Region Market Looking?

We’ve already passed the first quarter of 2023 for real estate sales in New Hampshire’s ...
Read More →
Moving into new home young happy couple celebrating toast Champagne

Buying a Home? Follow These Tips & Tricks

Spring has officially arrived and launches the beginning of our spring selling season for real ...
Read More →
Marketing

How Marketing Real Estate Has Evolved

Back in the year 2000, the world was at the beginning stages of a major ...
Read More →
Mount Washington, New Hampshire

New Hampshire — 30 Reasons to Move Here!

With lakes, beaches, mountains, forests, rivers, and the ocean for people who enjoy the outdoors, ...
Read More →
New Hampshire Ski Resort

Ski Resorts in New Hampshire Are Ready for Spring Skiing!

It’s been a good week, and mother nature hit our region with a blanket of ...
Read More →
Market Trends

Real Estate Market Trends to Follow

I’ve been pulling up some current research on the real estate market on a national, ...
Read More →
Carol Mattice

Roche Realty Group Welcomes Carol Mattice

Meredith — Frank Roche, President of Roche Realty Group, Inc, with offices in Meredith and ...
Read More →
Kevin Shaw - Roche Realty Group

Kevin Shaw of Roche Realty Group is Top Producer for 2022

Laconia— Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, recently announced ...
Read More →
Lisa Lewis

Lisa Lewis Joins Roche Realty Group

Meredith — Frank Roche, President of Roche Realty Group, Inc, with offices in Meredith and ...
Read More →
Wanda Keenan

Wanda Keenan Joins Roche Realty Group

Meredith— Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith and Laconia, ...
Read More →
Land for sale

Buy Land in New Hampshire — They’re Not Making it Anymore

The science is in and the more trees a state has, the happier and less ...
Read More →
The Price of Real Estate

Did The Price of Real Estate Increase in Your Town?

Everyone’s always interested to see how their real estate values have performed over the past ...
Read More →
Laid off employee in recession

Are We Headed into a Recession?

It’s pretty big news lately; Microsoft, Amazon, and other tech companies have laid off more ...
Read More →
Price Reduced

2022 vs. 2021 — Is The Lakes Region’s Frenzied Market Over?

It’s that time of year to provide all of you with an update on real ...
Read More →

Leave a Comment