Housing Market Slowdown

[LIforrelaxin]

Covid really messed up the housing Market, especially for second home properties, in remote areas..... Because there was an exodus of people trying to get out of the cities, and into more desirable full time locations where they could have fun, prices on lake properties sky rocketed. People where getting top dollar, now some of the "new" owners, want back out of what they bought into... The problem is they can't get out, unless they get top dollar. Hence properties are sitting on the Market longer, until someone comes along that has the money to waste..... Its a vicious cycle.....

Add on that the problems that are being seen on Winnipesaukee, indicating that the lake health is declining.....Honestly if I was going to invest knowing what I know about the lake, I would be looking else where.... if someone asked me about buying on the Lake, I would also advise them to be cautious...... I have a friend who's parents just decided to sell, and I am waiting to see how it goes for them.... As many have they built a home that would house all the kids and Grandkids..... of course they where never all up there... and now that the Grandkids are in college and no longer have time for Grandma and Grandpas lake house it isn't getting used.....