Southdown/Long Bay or Wolfeboro

[Momofthreema]

Originally Posted by joey2665

You wont be disapointed. I am happy in Meredith Bay but if I moved anywhere ele it would be back there. Just an FYI I do prefer Long Bay over Southdown

Thanks! There is something about Long Bay that I like better too! The only downside is the lack of boat storage, but we can figure that out. One of the properties that was available went under agreement in the last couple of days, so it seems like the neighborhood is still in demand!

[John Mercier]

I am not sure what it would take for lakefront/lake access property to actually go ''out of demand''. There are only so many lots.

[8gv]

A plague of frogs?

[Momofthreema]

Originally Posted by John Mercier

I am not sure what it would take for lakefront/lake access property to actually go ''out of demand''. There are only so many lots.

So…you are correct, it doesn’t go out of demand…it becomes less desirable in a market downturn for anyone who looks at it as an investment. Yes…it’s a heck of a lot of fun to have a place on the lake, but there is always a risk when you buy in a “vacation” town. Typically vacation(lake centered, mountain centered, beach centered etc) homes are the most highly volatile type of real estate, so there are always peaks and valleys that are exacerbated in those types of markets. What will be interesting to watch this time around is if the ability to work remotely for many upper management executives makes this downturn less severe.

[John Mercier]

I think we are in the ''six foot pit'' rule... so it may not have the downturn that is expected.

[Momofthreema]

Originally Posted by John Mercier

I think we are in the ''six foot pit'' rule... so it may not have the downturn that is expected.

What’s the “6 foot pit” rule, I’ve never heard that term before

[John Mercier]

Same as some call the ''rocking chair'' rule.

My grandfather used to say as you neared retirement, you would realize that you had enough resources to pursue some of the things you may have wanted earlier in life, but could not afford or were too financially cautious at the time to splurge on.

As the Boomers, the largest population in the US yet to reach that stage, continue into that stage... the demand for those things increases to the point that demand is relatively constant.

[FlyingScot]

Originally Posted by John Mercier

Same as some call the ''rocking chair'' rule.

My grandfather used to say as you neared retirement, you would realize that you had enough resources to pursue some of the things you may have wanted earlier in life, but could not afford or were too financially cautious at the time to splurge on.

As the Boomers, the largest population in the US yet to reach that stage, continue into that stage... the demand for those things increases to the point that demand is relatively constant.

I agree with this. In addition to age demographic is the average wealth of today's buyers vs yesterday's.

Years ago, people would strive to afford a lake house, and buy as soon as they could, taking out a mortgage in the low six figures. When that home appreciated it was a significant percentage of their net worth. it could be cashed in for a meaningful improvement in lifestyle elsewhere.

Today it's millions for a waterfront property. Buyers are using gains from their employee stock options or stock portfolio. These buyers are often set for life. (Really--would you drop $2-3MM on a vacation spot if you weren't set?) Thus these new buyers will not tempted to sell for lifestyle/cash considerations. Thus their holding period is likely to be longer, diminishing future inventory

[Momofthreema]

Originally Posted by John Mercier

Same as some call the ''rocking chair'' rule.

My grandfather used to say as you neared retirement, you would realize that you had enough resources to pursue some of the things you may have wanted earlier in life, but could not afford or were too financially cautious at the time to splurge on.

As the Boomers, the largest population in the US yet to reach that stage, continue into that stage... the demand for those things increases to the point that demand is relatively constant.

Yup, I can totally see that, it’s actually a huge part of why inventory was so low over the last two years. In the past as people aged, they wanted to downsize, move to single level living or a condo, now those condos often represent an uptick in cost over their current living situation. Many young people couldn’t/can’t buy first time homes because people are staying put as they age. It’s a really interesting demographic change and it’s effecting the two biggest groups in the baby boomers and the millennials. Hopefully there will be something left for those of us in the often forgotten Gen X crowd ��
Mainly it will be super interesting to watch how this shakes out locally over the next 24 months. Other parts of the country have definitely had the brakes slammed on in the real estate market, but it hasn’t quite reached New England yet. The good news is, we are back to a place where buyers can do inspections, and other due diligence before signing their names on the dotted line. So even if there isn’t a huge price drop, being able to do due diligence on a 600-800k investment will definitely help me sleep better at night!

[John Mercier]

Well, the peak Boomer birth year was 1959... so I still think it has a lot of fire.

You'll see some properties with price reductions because the ''set for life'' aren't so set. I have met more than my share of those over the last couple of years.

[8gv]

Earlier in this thread I incorrectly posted what my Long Bay and Village fees are.

The correct numbers are:

Long Bay $2,300

Village $500

I humbly apologize for providing fake news.

[Momofthreema]

Originally Posted by 8gv

Earlier in this thread I incorrectly posted what my Long Bay and Village fees are.

The correct numbers are:

Long Bay $2,300

Village $500

I humbly apologize for providing fake news.

You are so good. Thank you for setting the record straight

[joey2665]

Originally Posted by Momofthreema

You are so good. Thank you for setting the record straight

The village or sub HOA fees vary by each village. When I left prides point 5 years age we were 2500.00 per year but that included landscaping and snow removal for common area and road but also all your house landscaping and snow removal additionally mulch and trimming for your home plus snow removal for your driveway walkway to the front door and a path to you propane tank. A good deal as far as HOA fees go.


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[BroadHopper]

I've shopped around the Lakes Region for a 'decent' HOA. I settled down at Wildwood Village on Lake Winnisquam. We do have limited mooring for boats and storage for kayaks/canoes. HOAs on Lake Winnipesaukee is way too expensive and the lake is too busy for my taste.

Forget about Squam Lake. When properties are up for sale, the Squam Lake Association pretty much governs what you can and cannot do with the property, like an HOA.

Newfound Lake is another gem. Lately, properties have skyrocketed as it is in big demand! My sister lucked out decades ago, buying buildable land on Newfound. She already had offers quadrupled what she paid for!

Unless you have deep pockets for LB/SD and Wolfeboro it will pay to shop around.

[Momofthreema]

Originally Posted by BroadHopper

I've shopped around the Lakes Region for a 'decent' HOA. I settled down at Wildwood Village on Lake Winnisquam. We do have limited mooring for boats and storage for kayaks/canoes. HOAs on Lake Winnipesaukee is way too expensive and the lake is too busy for my taste.

Forget about Squam Lake. When properties are up for sale, the Squam Lake Association pretty much governs what you can and cannot do with the property, like an HOA.

Newfound Lake is another gem. Lately, properties have skyrocketed as it is in big demand! My sister lucked out decades ago, buying buildable land on Newfound. She already had offers quadrupled what she paid for!

Unless you have deep pockets for LB/SD and Wolfeboro it will pay to shop around.

That's great to hear! We looked at a couple of homes attached to that neighborhood. Do people get together for neighborhood gatherings? Does it feel safe? We aren't looking at only gated communities, but there is something appealing about that with South Down and Long Bay.

[beantownbaby]

Originally Posted by Momofthreema

That's great to hear! We looked at a couple of homes attached to that neighborhood. Do people get together for neighborhood gatherings? Does it feel safe? We aren't looking at only gated communities, but there is something appealing about that with South Down and Long Bay.

We live in South Down and really love it here. There is as much or little social scene as you want. It feels safe and there are so many things available to enjoy, as well as nice people.

[8gv]

As an added bonus we get to observe "gate jousting" or its aftermath on a regular basis.

It's amazing how invisible those gate arms can be!

[joey2665]

Originally Posted by 8gv

As an added bonus we get to observe "gate jousting" or its aftermath on a regular basis.

It's amazing how invisible those gate arms can be!

Lol. It's pretty funny and unbeleivable how often it happens. My ex still lives there and in my new community where i have been for 5 years it has only happened once.

[Momofthreema]

Originally Posted by beantownbaby

We live in South Down and really love it here. There is as much or little social scene as you want. It feels safe and there are so many things available to enjoy, as well as nice people.

That's so great to hear! We definitely love being part of a neighborhood, getting together with neighbors etc, but also just like to light a fire in the backyard and relax. Are there any rules about outdoor firepits in the neighborhood?

[8gv]

To have a real firewood fire it must be 25' from any structure per the fire dept. and HOA rules.

A propane fire pit seems to be exempt from that,

I am waiting for my new electric powered fire pit because that's how I roll.

[thinkxingu]

Originally Posted by Momofthreema

That's so great to hear! We definitely love being part of a neighborhood, getting together with neighbors etc, but also just like to light a fire in the backyard and relax. Are there any rules about outdoor firepits in the neighborhood?

When we looked at Southdown, there were no fire pits allowed—that was for the condo-style rather than the standalone homes. Definitely check the HOA docs if that's something you're looking for.

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