$3,995,000 - Wow...
 

I've kept a close eye on Winni lakefront real estate listings for six years. At this point, in most cases, I can get a pretty good sense of when things are priced in the right ballpark (or at least I could pre-COVID). But every once in awhile I come across a listing that I totally don't get and this is one of them. I just can't imagine this home going for anywhere close to what's being asked. To me, knowing only what I read in the listing, this seems to be at least $1.0M more than what I'd guess it could sell for, even in this market and even with 1.5 acres and 200 feet waterfront.

Other than a fishing expedition and/or an overreaction to an obviously exuberant market, does it appear to you that this is a $4M dollar slice of heaven?

On the other hand, in this market, soon as I hit 'submit' it'll probably sell for $250K over asking.

https://nicolewatkins.com/listing/48...ough-nh-03254/

That is a pretty terrific area, but that price does seem over the top. However, we have been chortling over the high prices, and just imagine what we could get if we put ours on the market, because it all seems just plain crazy! It will be interesting to see what the selling price is, and days on market.

Current assessed value is $2,097,500

Current assessed value for the property is $2,097,500. Compare it to 48 Catlin Estate Rd that is for sale as well. That property is for sale at $3,695,000 and assessed at $3,577,700 that has been on the market for 135 days.

You know there's no Walmart in that Moultonborough area, in that Moultonborough, Tuftonboro, Tamworth, Ossipee, Wolfeboro greater metropolitan area ....... therefore ...... the closest Walmart is either in Gilford of Plymouth. That makes 105 Hauser Estates Rd a long, long, long drive just to go to the store for something ...... is a long drive from anywhere to that area in Moultonborough.

...... is too much out-in-the-country ..... but, without those out-in-country, backwoods, "in current use" greatly reduced property taxes.

FLL: No worries! They have people to do their shopping for them and its a pretty good bet they don't go to Walmart.

I follow the Moultonborough real estate too. I know this area very well.
There was a house that sold on Bosn Way for $5 million in August. It had been listed for just under $6 million.

There was a house right around the corner that was for sale for $5 million. It did not sell and it was taken off the market. The house on Catlin Estate Road is just too big in my estimation.
If I had a choice, I would choose the house on Hauser Estates Road. Not every house will sell, but some people will get lucky.

There are some properties that come on in this frothy market that people put on at high prices trying to see if they can catch the BIG fish. It will be interesting to see what happens in the spring.

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Someone that pays $4mil for that has more money than brains....In any market.

If that's the case my island property is going on for $1.5mil!

Ten thousand dollars is the limit for deducting your state and local taxes, i.e. property taxes, from your annual federal income tax. I always thought this would have a big effect on NH lake front homes as their property tax surpasses the $10,000-limit ($5000 if married filling seperately). It has been in effect since tax year 2017, which was due in 2018, so it is still relatively new to the scene.

Google 'IRS tax topic No. 503' to read all about it.

Agree. The question is if someone offered you 1.5 mill would you sell it? Always said if someone offered us 1mill we would sell. It appears by recent sales we can get it. But, now the number is 2 mill. Not greed, just small talk when the subject arises.

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You've repeated this message about a thousand times, I think we got it.

Pricing
 

Nothing is worth more than someone is willing to pay you for it. A property listed in Center Harbor this summer sold for over a million more than the asking price in less than 48 hours with numerous bidders. This listing has a great sandy beach, morning to late afternoon sun, probably no sunsets tucked in behind what is now Avery Point. Protected cove, not much for direct impact boat traffic. No need to apply for no wake zones. Occasional bass fisherman sitting at the end of the dock. No more than 15 minutes to Heath's without traffic or easier by boat. No rafting in the area. The only thing that would have real impact would be a next door neighbor that either rents to large groups all summer or an avid boat owner with straight pipes or a PA system stereo and a large family with multiple jet skis. Someone might either knock it down or build it up. Soft sand bottom would easily take a large mushroom anchor for a mooring and is protected from both strong south and northwest winds. What's it worth to leave your boat for 2 weeks and know it will still be okay where you left it? Looks like the old Craig property they used to ski about every day with their Evinrude Rogue.

lacking (my) amenities
 

For $4MM, I'd want deeper water with a dock suitable for larger boats, not a temporary seasonal dock. Of course, if you just sold your house in the big city at $5MM to escape Covid, this could be a bargain.

Timing is Everything...
 

When the vaccine is readily available? ;)

Yes, I would take it and run in my case. Paid $445k this year but am putting well over $200k into it. It certainly will be desirable in the end, and worth more than my investment. But yes, I would take that money and run.

replacement
 

As always, if you sell for a high price, when it comes to buying an equivalent replacement, you will buy at a high price and lose your sweat equity. And maybe you paid substantial capital gains tax? Or, you sit on the sidelines, wishing you still had a summer place, and wait for the next recession.

I was thinking the same thing. We bought a fixer upper 6 years ago for 200K. I've put 100K into it but that's mostly just materials because I've done 90% of the work myself. I was told I could probably get around 500K but I don't think I could buy a better place for that so what's the point? Sent from my SM-G950U using Winnipesaukee Forum mobile app

I have seen many listing from that agent that are aggressively priced. Most times I think it is just people see if they can get someone to bite.....

However a quick look at this listing... it is boosting the following:

- 200 ft. of water front
-- with evaluation of land being about 6K per foot on the water, the land evaluates at 1.2M

1.6 Acres of land so there is plenty of room
A nice beach and apparently rock less looking water front
(note this is not a pearched beach)
A long dock

So it has a lot to offer, that today, would be hard to get permitted.

Now is it worth 4M???? Well If someone will pay that I am sure it is..... But maybe just maybe, only part of the family wants to sell, and holding on to it is the real goal....

Bad water
 

@Lifeorelaxin
"A nice beach and apparently rock less looking water front
(note this is not a perched beach)
A long dock"
The dock, a temporary seasonal dock, requires little, if any, permit except perhaps "permit by notification". You need a "long dock" when the water depth is insufficient to moor a boat with any significant draft, e.g. a 24' deep vee hull with I/O in the down position, and unable to lower it to leave the dock in years like 2020 and 2016. With a western exposure, the dock is exposed to prevailing NW winds and would be unlikely to hold anything larger than 20-24 feet, if that. A pontoon would perhaps draw less water, but with a lot of canvas would move the dock in any significant wind.
Winnipesaukee waterfront, to me, is for boaters. This is not a boating site. It's an old camp with new addition at exorbitant price.

Have you looked at it on a map? Seems like a very protected location with regards to boat docking.

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Houses are selling for around 60% over town appraisal. My guess is it goes for around $3m.

2x town appraisal does happen, but unlikely in off season.

On average you may be correct on the sale vs assessment but this one is way off the mark. Someone taking a shot at the moon or a realtor who tried to buy the listing by convincing the owners he would get them more than others. The beach is nice but not at the expense of good docking and deep water. Maybe you find a newcomer who doesn't realize that or has other priorities than boating. Low 2's would be my guess if it sells at all but since I already own waterfront I would be happy to be proven wrong.

When I bought my house 6 years ago the real estate agent said that property was selling right around town assessed value. Of course it was still a buyers market back then.
My assessed value has gone up 30% so 60% now sounds about right in this sellers market.

..... for just $15,000,000 ..... think about it!
 

With the Moultonborough property assessments likely to increase, here's hoping the town can agree to build a 15-million dollar community center. It needs to have a 5-million dollar indoor swimming pool, a 5-million dollar indoor ice arena, and a 5-million dollar indoor tennis and pickleball facility.

So, that's 5-mil each for swimming, ice, and tennis/pickleball which multiplied by three adds up to 15-mil. ....... :banana:

Here's to building that new 15-million dollar Moultonborough Community Center ...... way-to-go ...... M-0-U-L-T-O-N-B-O-R-O-U-G-H !!! ..... ugh, ugh, ugh

So Moultonborough can get inline with all the other towns around the lake with high property taxes.

Isn't this dead?
 

I thought this was voted down...again...just recently?

Oh yes! It’s an annual event.....having it put on the docket as a warrant article. It’s the “I want, I want, I need, I gotta have it!” crowd vs. the frugal property owners who would have the privilege of funding it. It never ends...

That price tag and no air conditioning!? I guess if you have that kind of money to blow on a property like that, you can pay people to fan and spritz you with cool water mist!


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I have not paid much attention to what they were trying to do in Moultonboro as I am not a resident but is that what it was? 15 million! An ice rink, tennis and community center! Thats a big ask for a small town. If an ice rink or tennis or fitness even remotely made financial sense then I would guess someone in the private sector would step up. It does not make sense so they must have the tax payers pick it up.

Winter, FLL is just having a little fun....$15 million is not the figure, but who knows? Maybe they’ll up it to that figure. 🤨 The waterfront taxpayers are not in favor of needless spending.

Well that’s the thing. Newcomers have no idea of all the pros and cons of deep water access, water quality, exposure, dust, wind, exposure to the broads , septic limits etc.

The town appraisals don’t factor in a lot of those details either.

Took me 3 properties and 30 years to figure it all out :)

There are $5m properties that I wouldn’t buy if I could get it for $1m because of compromises I would not make at the $1m Mark. I want gorgeous sunsets without being exposed to “the broads”. Among 20 other things. Not easy to find.

It’s the location. Nice and close to Braun Bay.

Attachment 16591

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New name?
 

Covid Cove? Hot Springs Sands?

Admittedly I might be a bit of a stickler for details but I can’t imagine paying 4 million dollars for a property when the owner, realtor, or stager couldn’t be bothered to tidy up for the pictures.

The first picture shows plastic Adirondack chairs thrown about.

The front and back exterior pictures of the home show lawns that were not raked and steps and decks that were not swept.

And then one of the bedrooms has the mattress just sitting on a box spring on the floor.

If I was trying to sell something for that much money I’d want to prospective buyers to think I care more than those pictures show. The person who can’t be bothered to buy a $79 dollar bed frame is not the person I would trust to have properly maintained the “4 million dollar” home I’m purchasing.

And (possibly even more importantly) if I was a realtor standing to make a sizable commission on the sale of a place like this, I’d want to present a much better image.

Great points - all of them. Even though those things didn't fully sink in when I opened the thread, I think your observations are a big part of why I shook my head in puzzlement over this listing. Also note the roof which is covered in pine needles. Blowing that off would have taken all of 30 minutes. The messy beach when looking out toward the water could have been cleaned up too. Look at comparatively priced listings and they are clean - if not pristine. Now of course, that may not be the everyday reality but staging the listing is an important part of selling it.

Couldn’t agree more! Professional pics are a must! I wouldn’t hire a realtor that doesn’t use a professional photographer to take property pics.

Dan

I was looking at a new listing that just came on in Wolfeboro. Granted its not at 4 million but the pictures that accompany it made me laugh. Stained mattresses with no covers, closeups of toilets, rooms with a solitary chair..... A realtor who lists something like that might as well hang a sign that says " Don't hire me, I am a moron"

Question, what is the current % rate for a listing?

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I think it's 5% but someone with more knowledge may want to chime in.Sent from my SM-G950U using Winnipesaukee Forum mobile app