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How To Sell You House in Two Days

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Posted 04-21-2011 at 01:49 PM by Roy Sanborn
Updated 04-21-2011 at 01:53 PM by Roy Sanborn (layout)

Home sales seem to be chugging along at a pace very similar to last year. There were 57 residential homes sold last month in the towns listed in this Lakes Region Market Report. The average sales price came in at $299,973 and the median sales price was $197,500. Last March there were 59 homes sold at an average price of $272,539 with a median of $220,000. For the first quarter this year, there have been 143 sales at an average price of $273,291 compared to 137 sold for the same period last year at $308,062. There were only three sales over the $1 million mark this year compared to six during the first quarter of 2010. Fifty percent of the total sales in both years were priced under the $200,000 mark. Things are, and have been, pretty consistent for some time, so it is safe to say that this is the new norm.

As I looked at data for the month, I noticed there were a number of pretty quick sales. Quick, as in only a couple of days. What makes a home sell so quickly? Often when a house is listed and sells that quickly it is because the listing agent already has a buyer in the wings, but not always. But you’d think they still must be pretty good deals. There were two homes in March that went under agreement in two days where the listing agent had both the buyer and the seller. One, at 66 Heights Road inGilford was a three room, one bedroom, 672 square foot cottage built in 1920 on a .59 acre lot with beach rights. It was listed at $98,500 with a current tax assessment of $101,003, and sold for $100,003. The extra $3.00 must have sealed the deal. The other

quick deal was at 834 Moultonborough Neck Road. This was a Skiffington custom built, high quality, 3500 square foot cape with four bedrooms, three baths, four fireplaces, cathedral ceilings, custom kitchen, first floor master suite, and more. But the likely thing that sold this home so quickly was the absolutely outstanding views of the lake. This outstanding property was offered at $899,000 and sold for $875,000 which is a bit above the current assessment of $772,700. It just goes to show that a great home with great views listed at a great price can sell in just a couple of days.

There was another two day deal done at 423 Liberty Hill Road in Gilford. This property consisted of two 24’ x 40’ season cottages with standing seam steel roofs. These buildings are well built, totally open inside, and were used formerly as the Laconia Girls Club. The cottages sit on a private one acre lot at the top of Liberty Hill and have potential lake views. This property is currently assessed for $86,4000, was listed at $59,900 and sold for $60,000. I’m surprised it lasted that long.

Over in Moultonborough at 337 Long Point Road, a nearly new log cabin also found a buyer in just a couple days. This is an 1,878 square foot, three bedroom, two bath home built in 2006 on a nice .62 acre lot. It has the requisite stone fireplace in the living room, a nice country kitchen, beautiful pine floors, a great farmer’s porch, and a two car garage. It looks like something Daniel Boone could only have dreamed about. The tax assessed value was $274,800. It was listed at $300,000 and sold for $300,000. The right price on the right house.

Then there is a home at 47 Bartlett Hill Road in Center Harbor that unfortunately took twice as long to sell. It was an older, 1974 vintage, 1,126 square foot, three bedroom ranch on 12 acres with 700 feet of road frontage. I suspect that the 12 acre lot was the driving force behind the four day life of this listing. It is assessed at $163,000, was listed at $135,000, and sold for $129,000.

Even waterfront sales can happen quickly. The home at 24 Bayview Drive in Belmont with 112 feet of shorefront on Lake Winnisquam took just five days to sell. No, I don’t know why it took so long. This charming ranch style home with three bedrooms, two baths, and 2,068 square feet of living space has been completely renovated and proved to be exactly what someone was looking for. While the current tax assessment is $419,400, it was listed at $549,900 and sold for $530,000.
The answer to the question as to why certain homes sell quickly is because the buyer can see true value in the property. It certainly helps if the property is below the $200,000 mark as most of the sales are occurring in that price bracket. But nice properties, when priced
correctly, can sell just as quickly, too…

Data was compiled as of 4/16/11 using the Northern New England Real Estate MLS System.

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