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Way Back When...

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Posted 04-08-2011 at 01:17 PM by Roy Sanborn

As of April 1, 2011 there were 1018 residential homes on the market in the Lakes Region towns in this report. As depressing as it was, there was also fresh snow on the ground. The average asking price stood at $548,428 and the median price was $279,900. The current inventory level is equal to a 12 month supply of homes on the market. Last April 1, there were 1070 homes offered at average of $574,932 and a median price of $289,900. Last April there was no snow, the ice was out, and we were already doing yard work. Enough said.

The very first ad ever run in a newspaper was for (you guessed it) a piece of real estate. This ad appeared in the Boston News-Letter on May 8, 1704: "At Oyster-bay on Long-Island in the Province of N.York, There is a very good Fulling-Mill, to be Let or Sold, as also a Plantation, having on it a large new Brick house, and another good house by it for a Kitchin & work house, with a Barn, Stable, etc. a young Orchard, and 20 Acres clear Land. The Mill is to be Let with or without the Plantation: Enquire of Mr. William Bradford Printer in N.York, and know further." This ad was probably placed by the owner of the property but I imagine it didn’t take long for real estate agents to start doing their own.



Looking at turn of the century Laconia Democrat newspaper ads in the archives at the Laconia Library can be kind of entertaining. Many of the ads in the early papers were for recognizable products and services we’d see today. There were lots of ads for cereals, soaps, tonics, beer, washing powder, cod liver oils, and even something that made your hens lay eggs. Early car manufactures along with services and gasoline for the horseless wonders were also big advertisers. But there were numerous ads for cures and elixirs like Dr. Pierce’s Golden Medical Discovery which was touted to “Lock your door against disease. Gives strength to the stomach, purity to the blood, and life to the lungs.”



An interesting 1920 ad for Gingras Real Estate, who seemed to be the heavy hitter back then, with a headline; “MODERN HOMES” explained that “A man came into our office the other day looking for a tenement. He had moved several times in the last few months and was again asked to vacate. He said everyone was suspicion of him, his family had no standing in the community, he felt he was an apology among men. His furniture was pretty much demolished from the many times of transfer. Sore and discouraged, he asked, what can I do? Our answer was BUY A HOME. The greatest asset any man can have in the community. Your Opportunity is here, at Sunny Side Park.” It went on to explain about the limited number of moderately priced cottages available constructed at pre-war prices. I wonder if this suspicious looking vagabond was able to actually buy a house? After all, Fannie Mae wasn’t even born yet.



Another 1920’s Gingras ad said “DEPENDANT OR INDEPENDENT, WHICH? Good Real Estate (your judgment may be relied upon to tell you what is good) is an investment to be proud of. The PROFITS are larger, cleaner, and more certain than anything else. A good real estate purchase will place you on firmer footing of independence in less time than any other SAFE way. Opportunity will not break the door in to get at you.” I guess there were no home inspectors around to tell you what was a good piece of real estate. See how far we have come?

Most everyone believes that now is a great time to buy a home with low prices, low interest rates, and lots of inventory. It is a reoccurring theme through many of these ads as real estate is and always has been a sound long term investment. A May 28, 1920 ad touted “Great Opportunities” and listed a dozen homes and cottages for sale in Laconia from $2,100 to $8,000. One read; “Pleasantly situated home of eight rooms with all the modern improvements, natural wood finish, stable and poultry house, two acres of land, an abundance of fruit, excellent neighborhood in a nearby street, an attractive proposition for development. Price, $8,000.”

Gingras ads in 1930 and 1931 at the start of the Great Depression touted unequivocally “NOW IS THE TIME TO BUY A HOME.” But you could by a “Cozy cottage of seven rooms near the business center ofLakeport. Hot air heated. Bath room with hot and cold water, large corner lot. Price $3,000.” It’s kind of hard to relate to those prices and I wonder if they were good deals at the time?

Looking at a little more recent Laconia Citizen newspaper published in 1976, I found an ad that we all could relate to. It was for Gagne Construction who apparently were also REALTORS®. It read “Governor’s Island – Elegant new waterfront home in Winnipesaukee’s most prestigious location. Three bedrooms, guest suite, four baths, fireplaces, laundry. Built for the discrimination buyer; you’ll love the gorgeous landscaping, patio and beach. A wonderful new world of better living.” This home was offered at $149,500 which would probably be about 1/10th of today’s value. It is ads like these that make us all wish that we had invested more way back when…


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