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BroadHopper · 08-28-2017, 04:27 PM

My dad sold our family waterfront cottage in the late 90's when the state started to evaluate tax assessment. Taxes gone up six fold in the years following the education funding mess. Many families had to give up their heritage homes

The cottage was built by my great grandfather in 1892. At that time the 2 BR 2 story cottage was considered a mcmansion. The cottage reminds me of the cottage on 'On Golden Pond'. Many memories were made there as family and relatives spend many summers on the lake.

Sadly the property tax was more than we could bear. The new owners did not waste time in converting to a year round home. There was a petition to the town to maintain the road year round and the road was paved for the first time.

Nine years after it was sold, the owner made a fortune selling the property. The third owner tore down the existing structure and built a huge mcmansion. The economy soured (late 2000's) and the property went into forclosure. It was one of those cases the bank padlocked the building and the owners could not get their belongings, that winter all the pipes burst and the building was a huge mess and mold and mildew set in in the spring. The property went up for auction and no takers. The house sat for a few years, there was extensive vandalism until the bank boarded up the windows and doors. What a mess.

7 years later, without notice, the property was sold. Again the building was demolished and a beautiful Adirondack style home was built. The trust that bought it paid about what my dad sold it for!

At one time I was admiring the structure from the road and the owner approach me as he was proud of the new structure. I told him my family were the original owners and we bought it from the railroad. He was very interested in the story. He ask if I would like to come inside to look around. I politely declined as I want the property to remain as it is in my mind. I'm surprised he was a bit upset. I bid ado.

It's been 3 years since the last build and the property is for sale for 5 times what the trust paid for it. I wish them well.

What a roller coaster this property been through since we sold it in 1998. Lots of money was lost.

08-28-2017, 04:27 PM	#21
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,669 Thanks: 3,282 Thanked 1,132 Times in 814 Posts	Sad state of Real Estate My dad sold our family waterfront cottage in the late 90's when the state started to evaluate tax assessment. Taxes gone up six fold in the years following the education funding mess. Many families had to give up their heritage homes The cottage was built by my great grandfather in 1892. At that time the 2 BR 2 story cottage was considered a mcmansion. The cottage reminds me of the cottage on 'On Golden Pond'. Many memories were made there as family and relatives spend many summers on the lake. Sadly the property tax was more than we could bear. The new owners did not waste time in converting to a year round home. There was a petition to the town to maintain the road year round and the road was paved for the first time. Nine years after it was sold, the owner made a fortune selling the property. The third owner tore down the existing structure and built a huge mcmansion. The economy soured (late 2000's) and the property went into forclosure. It was one of those cases the bank padlocked the building and the owners could not get their belongings, that winter all the pipes burst and the building was a huge mess and mold and mildew set in in the spring. The property went up for auction and no takers. The house sat for a few years, there was extensive vandalism until the bank boarded up the windows and doors. What a mess. 7 years later, without notice, the property was sold. Again the building was demolished and a beautiful Adirondack style home was built. The trust that bought it paid about what my dad sold it for! At one time I was admiring the structure from the road and the owner approach me as he was proud of the new structure. I told him my family were the original owners and we bought it from the railroad. He was very interested in the story. He ask if I would like to come inside to look around. I politely declined as I want the property to remain as it is in my mind. I'm surprised he was a bit upset. I bid ado. It's been 3 years since the last build and the property is for sale for 5 times what the trust paid for it. I wish them well. What a roller coaster this property been through since we sold it in 1998. Lots of money was lost. __________________ Someday may never be an actual day.