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Winnipesaukee, Winnisquam, & Squam Lake 2011 1st Q Sales Report

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Posted 04-17-2011 at 06:07 PM by Roy Sanborn

Despite the relentless winter, there were six waterfront sales on Lake Winnipesaukee in March of 2010 at an average price of $986,667. There were two sales in excess of $1 million. Last March there were seven sales at an average of $1.1 million with the average price bolstered by a $4.25 million sale in Wolfeboro. The tally for the first quarter of this year stands at 17 sales which is equal to the first quarter of last year although the average sales price is down from $1.9 million to $857,471. There were only three sales over $1 million this year so far compared to eight for the first quarter of last year.

The least expensive property sold on the big lake was in Meredith at 7 Stonedam Island Road. This was a bank owned contemporary built in 2005. It has 2,880 square feet of living space, three bedrooms, three baths, and a great room with cathedral ceilings and lots of glass looking out at Sally’s Gut (I am not referring to former owner’s wife---that’s part of the lake). The home sits on a .48 acre lot with 143’ of frontage. The property was offered at $664,900 and quickly went under agreement in 31 days for $670,000. The current tax assessment on the property was an even $1 million leading me to believe that the new buyer must have been dancing around the closing table.

Over in Alton, at 42 Tranquility Lane, a nice 4,400 square foot Adirondack home built in 1997 also found a new owner. This home was constructed utilizing vintage materials from an old mill and summer camps. It features five bedrooms including a first floor master, four baths, cathedral and wood beam ceilings, additional living space and kitchen on the lower level, great views down the broads, and wonderful sunsets from the huge porches. The home sits on a manicured .60 acre lot with 147’ of shorefront with a breakwater and dock. This property was originally listed in July of 2008 for $1.777 million, relisted in 2010 at $1.499 million, reduced to $1.299 million, and finally sold for $1.075 million. The current tax assessed value was $1.317 million.

The highest sale of the month was at 88 Powers Road in Meredith. This turn of the century lodge style home was built in 1900 and sits literally on the water’s edge. Ah, what you could do back then! This rather small and cozy, 8,100 square foot home has eight bedrooms, five baths, exposed wood beams and cathedral ceilings, massive stone fireplaces, a great wrap-around porch, and wonderful lake views. The 3.6 acre lot has 200 feet of frontage, manicured lawns, and a nice sandy beach. There’s also a five car garage for your “flivers” and a two bay boathouse to keep the woody in. Now this 110 year old home is pretty remarkable, but it only took the last 10 years of its grand life to find that elusive new buyer. It was originally listed (at least according to the MLS) way back in 2000 at a cool $6 million. It has been listed continually every year since at different price points as high as $6.7 million in 2007. The most recent listing price was $2.495 million which enticed a buyer to make a deal at $1.83 million.
The current tax value on the property is
currently $2,349,101 which makes me think of Real Estate 101; if the seller had the home priced correctly to start with, it might not have taken a full decade to sell it.

Over on Winnisquamthere were two waterfront sales in March bringing the total number so far this year to a total of four. There was just one sale on Winnisquam in the first quarter of 2010 so we are already doing four time better! One of the homes that sold was a classic, cozy three bedroom cottage with a knotty pine interior at 57 Collins Brook Road in Meredith. It sits on a .49 acre lot with 132’ of frontage across from the Loon Sanctuary. It had all the important amenities one would want including a bathroom, outside shower, dock, a boat house, and a shed with a beer fridge! It was listed for $425,000, reduced to $409,900 and sold for $365,000 which is over the $282,900 tax assessment. It must have been the beer fridge?

The other sale on Winnisquam was at 24 Bayview Drive in Belmont. This totally renovated ranch style home with a full finished walk out basement has 2,068 square feet of space, three bedrooms, two baths, cathedral ceilings, hardwood floors, fireplace, an eat in kitchen, dock, and 112 feet of shorefront. It was listed at $549,000 and sold for $530,000 with a current tax assessed value of $419,400.

A quick look at happenings up on Squam Lake for the first quarter revealed just two sales which is two more than the start to last year! The sale of significance was at 30 Laurence Road in Holderness which is known as the L.J. Webster Estate. This outstanding example of historical architecture and luxury has 7,353 square feet of living space, sixteen rooms, six bedrooms, and six baths. This impeccable home sits on a private 20 acre parcel surrounded by pristine pastures and woodlands. It has 200 feet of shorefront on Squam and views of the lake and mountains from every room in the house. This is the epitome of a luxury home from another era. This property was originally offered at $4.3 million, was reduced to $3.9 million, and sold for $3.045 million. It sounds like a place you could really get used to…

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