Post by Kim Cedarstrom of Roche Realty Group.
So, what’s going on “on the waterfront” on Lake Winnipesaukee? A lot really. If you are looking to buy, now is the best time in recent memory to do so. If you are considering selling, people are buying- sales of Lake Winnipesaukee waterfront homes are up from 17 to 26 in the first quarter of 2012. A 53% increase from the same period last year! Prices have moderated- down to an average of $807,469 for the first quarter of 2012 from 2011’s average of $857,471. What to make of this? I would offer this-if you want to sell your waterfront home there are customers out there and they are buying! If you want to buy a home on Lake Winnipesaukee, now’s a great time-prices have become more realistic and costs of borrowing have never been lower. In terms of an investment, with Equity markets being so unsure (the Dow Jones as of Halloween is returning only 6.88% and Money Markets offering less than 1% return), investing in your family’s happiness with a lakefront home looks pretty attractive right now.
If you are thinking of buying a property on “The Big Lake” prices are moderating and there is a great selection available. The supply of Waterfront homes is fixed. Until the next Ice Age, Mother Nature isn’t making any more. A fixed supply of any product creates a constant demand, and a market for that product. What’s going to adjust is the market. As the economy improves, the demand will increase (supply can’t) and the supply will shrink. Prices will go up.
Thinking of selling? There are buyers out there. The numbers above prove it. What’s crucial in this market is getting all the value you can out of your home by presenting it in the best light. Emphasize all the positives (views, water quality, neighborhood, access, etc.) that your property has. Price it comparably in the market. Expose it to as many people as possible.
Buying? Selling? Both are happening now! Now is a good time to think about selling as the next season isn’t far away, and it’s a great time to begin your search for you dream home “On the Waterfront”. If you have any questions, contact me directly at firstname.lastname@example.org.