Looking to be an islander again

[Descant]

Sometimes, folks who can't quite bring themselves to selling will lease by the season. You might contact some of the rental owners and see what you can offer or work out. If you can find a lease on whatever island you prefer, at least you'll be on that island and more likely to hear discussions from people who might sell in two or three years. I know people who leased for a few seasons in the same place, then bought it. The seller probably felt a little like it was still in the family as opposed to selling to a stranger.

[mneck1814]

Have you looked at 12 Lockes Island? I saw this listing the other day and was sad to see in the description that the family is selling it after 118 years of owning it. It is a classic Winnipesaukee camp, hopefully the next owners won't tear it down.

[codeman671]

Originally Posted by mneck1814

Have you looked at 12 Lockes Island? I saw this listing the other day and was sad to see in the description that the family is selling it after 118 years of owning it. It is a classic Winnipesaukee camp, hopefully the next owners won't tear it down.

Yes, we saw it a week ago. Very cute place with great views. We met the owner while there, very nice gentleman. Did I say loved the view?

Trying to find something not on the market yet.

I did see the hole in the wall come on as well.

[Island Girl]

One like a log cabin with great fireplace, the other is completely winterized and has a well. Both already on the market. Great views of the

Just mentioning because of the unique qualities.
IG

[codeman671]

Originally Posted by Island Girl

One like a log cabin with great fireplace, the other is completely winterized and has a well. Both already on the market. Great views of the

Just mentioning because of the unique qualities.
IG

Thank you. I am aware of those, but are leaning towards stuff a bit further up the lake. A few of those look good and are well within budget but I think we want to focus more on the gilford, Meredith and tuftonboro area. Haven't ruled them out though.

[wifi]

Originally Posted by codeman671

Y...Trying to find something not on the market yet......

So, in summary, you want something that no one else knows about. I'm trying to figure the logic of asking this and expecting an answer, LOL

[codeman671]

Originally Posted by wifi

So, in summary, you want something that no one else knows about. I'm trying to figure the logic of asking this and expecting an answer, LOL

Pretty simple... someone may be considering selling and not have it on the market yet, or may know of someone talking about making a move. Some would prefer not to pay thousands in commission to sell a property, and a private sale would offer that. One forum member in this thread must feel the same way, he is trying to sell his property on his own and will be succesful doing so. It will probably save him $18-20k.

How many forum members are on here that have seen this thread?
I have had a few private replies already so i can't be that far off on my logic.

Still hard to figure out?

[Biggd]

Originally Posted by codeman671

Pretty simple... someone may be considering selling and not have it on the market yet, or may know of someone talking about making a move. Some would prefer not to pay thousands in commission to sell a property, and a private sale would offer that. One forum member in this thread must feel the same way, he is trying to sell his property on his own and will be succesful doing so. It will probably save him $18-20k.

How many forum members are on here that have seen this thread?
I have had a few private replies already so i can't be that far off on my logic.

Still hard to figure out?

When you're buying a property the seller is paying the commission, it comes off the sale price. It's only worth what it's sells for so if the seller doesn't want to pay a sales commission what makes you think that he wants to give that savings to you. I could never figure this out? "it will probably save him 18 to 20K", that's not your savings.
Usually property that is being sold by owner is priced too high that's why they are selling it on their own.
What I've found as a buying is to look at property that has been on the market for a long time because it is priced too high and make a, take it or leave it offer, that you feel the property is worth. Why do you care if the seller has to pay a commission? That's not your problem.
I could be wrong but I doubt Island property is in big demand so I think you are always in a buyers market.

[codeman671]

Originally Posted by Biggd

When you're buying a property the seller is paying the commission, it comes off the sale price. It's only worth what it's sells for so if the seller doesn't want to pay a sales commission what makes you think that he wants to give that savings to you. I could never figure this out? "it will probably save him 18 to 20K", that's not your savings.
Usually property that is being sold by owner is priced too high that's why they are selling it on their own.
What I've found as a buying is to look at property that has been on the market for a long time because it is priced too high and make a, take it or leave it offer, that you feel the property is worth. Why do you care if the seller has to pay a commission? That's not your problem.
I could be wrong but I doubt Island property is in big demand so I think you are always in a buyers market.

If a property is worth $350k (keep in mind appraisals come into play when financing) and a seller would have to pay $20k in commission to sell with a broker then yes, a private sale at $350k does save them money....

I am NOT trying to capitalize on a private sale by trying to save myself money by a seller not having to pay a commission. I am trying to possibly find something before it hits the market to beat the feeding frenzy going on. You are incorrect, there is huge demand on the islands right now as there was last season and inventory is low. Sellers are getting multiple offers on properties. Take a look on island real estate and see how many are under contract, some for big money. The ones that aren't are either high up with lots of stairs which doesn't work for everyone, are grossly overpriced, or need a ton of work/ have issues.

We lost one already in a 3 way bidding war. The fsbo on rattlesnake has multiple offers, and I know of another that has multiple bids right now after being listed for a VERY short period of time.

It is a sellers market all around.

[Biggd]

Originally Posted by codeman671

If a property is worth $350k (keep in mind appraisals come into play when financing) and a seller would have to pay $20k in commission to sell with a broker then yes, a private sale at $350k does save them money....

I am NOT trying to capitalize on a private sale by trying to save myself money by a seller not having to pay a commission. I am trying to possibly find something before it hits the market to beat the feeding frenzy going on. You are incorrect, there is huge demand on the islands right now as there was last season and inventory is low. Sellers are getting multiple offers on properties. Take a look on island real estate and see how many are under contract, some for big money. The ones that aren't are either high up with lots of stairs which doesn't work for everyone, are grossly overpriced, or need a ton of work/ have issues.

We lost one already in a 3 way bidding war. The fsbo on rattlesnake has multiple offers, and I know of another that has multiple bids right now after being listed for a VERY short period of time.

It is a sellers market all around.

I didn't realize it was a sellers market for Island properties. I'm always on the look out for a deal but I don't see any deals out there unless they need work. Those are the properties I like to buy. Good luck with your search.

[ishoot308]

Originally Posted by Biggd

I didn't realize it was a sellers market for Island properties. I'm always on the look out for a deal but I don't see any deals out there unless they need work. Those are the properties I like to buy. Good luck with your search.

Codeman is quite correct, it definitely is a sellers market! My brother in law has been looking for island property as well. Not much out there and what is out there is priced very high. Assessed or appraised value means nothing right now. Sellers are getting their price and pickings are slim! Can't get financing because property doesn't appraise?...doesn't matter, cash is king right now! Lots of cash deals happening right now and things are moving very quick!

Dan

[Biggd]

Originally Posted by ishoot308

Codeman is quite correct, it definitely is a sellers market! My brother in law has been looking for island property as well. Not much out there and what is out there is priced very high. Assessed or appraised value means nothing right now. Sellers are getting their price and pickings are slim! Can't get financing because property doesn't appraise?...doesn't matter, cash is king right now! Lots of cash deals happening right now and things are moving very quick!

Dan

I've never had an interest in Island property so I did not know this. It doesn't seem like the mainland properties are selling that quickly.

[codeman671]

Originally Posted by Biggd

I've never had an interest in Island property so I did not know this. It doesn't seem like the mainland properties are selling that quickly.

There has always been a large delta in price between island and mainland. Two completely different type of buyers financially. On the islands you can buy a slice of heaven for $300-500k, on the mainland multiply that by 3 to 5 times for the same. When we sold our place years ago on an island for $613k, the equivalent on the mainland would have been 3 times that.

[NH.Solar]

Codeman,
If you haven't already done so, be sure to contact Nancy & Doug Deporter. They know the islands better than any other realtors and walk the walk ...Nancy has been summering at the family island property for over fifty years now!