35 Leaward Shores Rd, Moultonborough

fatlazyless · 02-16-2010, 11:19 AM

Very nice looking 3-story victorian house, built in 2007, on 1-acre w/ 300' wf, 10 rms, 4 bed, 4 bath, plus a small guest cottage, totally modern house w/ modern septic & well

MLS-2816327

Assessed $1,432,300

Annual prop tax $11,026

Asking price $989,000

...........

At 989,000, that is 69% of the assessed Moultonborough value.

I am not at all familiar with today's local waterfront market, and maybe it's just a case of what goes up, must come down, and now that the mortgage credit lending market has changed, the prices are falling fast? Is this type of .69 of assessed value seen around the lake now as being not unusual?

What I don't know is how many days on the market, and at what prices, leading down to current asking price.

$989,000......is that a steal-of-a-deal.....or will it be worth less, come next year? I have no clue? ..

Dr. Green · 02-16-2010, 11:30 AM

A lot of property is going for less than its assessed value. Assessed value follows appraised value by several years.

I was looking at a commercial property recently with an asking price near its assessed value. I decided to get an appraisal, and the appraised value was roughly 75% of the assessed value (and asking price).

dpg · 02-16-2010, 11:47 AM

Yikes...$1,000 monthly tax burden.

Sue Doe-Nym · 02-16-2010, 11:58 AM

This property has been on the market for well over a year and has been a Preferred Rental unit. Do not know what condition it is in but it makes you think. Recently million plus waterfront properties have been the only ones selling above assessed value which gets back to the question of what condition is it in and is a sale subject to existing rentals.

DoTheMath · 02-17-2010, 02:51 PM

Not the most aesthetically pleasing place I have ever seen, and if it has been a rental unit as well... good luck! That could be Pandoras Box just looking for someone to open 'er up.

fatlazyless · 02-18-2010, 12:02 AM

$443,300 is the difference between the currently assessed 1,432,300 value, and the 989,000 asking price, and 443,300 is obviously a very large amount. So, what exactly has happened here? What is a reasonable and intelligent reason that explains the large drop in value?

Was it ever really worth that $1,432,300 in the past few years? Are assessments simply a hypothetical value that only exist in the town's rosie outlook for high property values?

ApS · 02-18-2010, 02:29 AM

Quote:

Originally Posted by fatlazyless

"...What is a reasonable and intelligent reason that explains the large drop in value...?"

A "lot-of-record" (or two) has been split off?

jmen24 · 02-18-2010, 08:24 AM

Quote:

Originally Posted by fatlazyless

Was it ever really worth that $1,432,300 in the past few years? Are assessments simply a hypothetical value that only exist in the town's rosie outlook for high property values?

When assessed value is compared to market value, yes. The town is always behind the times, so in an upswing you are ahead because the assessed value is lower than market, but in a down swing they will just keep the higher assessment until they HAVE to get things up to speed.

I know I would not have paid 1.4 mil for that property and I still would not at 1 mil, so to me, no, it was never worth that price and it still is not.

jrc · 02-18-2010, 08:26 AM

http://www.bloggingstocks.com/2009/0...n-home-prices/

"It has definitely been a tough couple of years for homeowners, especially those who have only recently bought their homes. As of December homes were, on average, 27% lower than they were in the housing peak of mid 2006, creating some serious headaches for homeowners who have seen their mortgages go under water."

$1,432,300 x 27% = $386,721 that's pretty close

DoTheMath · 02-18-2010, 10:21 AM

Something - anything for that matter - is only (really) worth what someone else is willing to pay for it.

wifi · 02-18-2010, 10:28 AM

Quote:

Originally Posted by DoTheMath

Something - anything for that matter - is only (really) worth what someone else is willing to pay for it.

Which is why (IMHO) RE taxes should be based on purchase price + the cost of living, NOT on some assessors value judgment based on who knows what.

This is exemplified by the taxes on this property

DickR · 02-18-2010, 12:33 PM

Quote:

Originally Posted by wifi

Which is why (IMHO) RE taxes should be based on purchase price + the cost of living, NOT on some assessors value judgment based on who knows what......

RE tax is a tax you pay on someone else's means to pay it.

NoRegrets · 02-18-2010, 12:35 PM

One problem with taxing RE on paid price is attaching reasonability to the price. Your parent may sell you a property for 100 dollars. When would the proper evaluation be applied?

fatlazyless · 10-11-2010, 12:16 PM

35 Leaward Shores Rd., Moultonborough, still up for sale and now at an asking price of $879,000, down from $989,000, last February. Wonder what it's assessed for now? Is it still $1,432,300 as it was in February, 2010, from a post above?

Thankyou link to Moultonborough 'for sales' in the Roy Sanborn we(b log)!

gf2020 · 10-11-2010, 01:00 PM

Not my style, but probably a good value.

The current assessment is $1,427,200. There has been considerable discussion that the Moultonborough assessments have no relationship with current market values.

MarkinNH · 10-12-2010, 07:53 PM

When you go to the MLS listing on "Realtor.com" the listing shows a price of $879,000. Maybe it has been reduced again.

kauriel · 10-14-2010, 11:43 PM

We just bought a place in Laconia that was assessed for $111,800 and was re-assessed last month for $68,600. Thankfully the new assessment is much closer to our purchase price so we were pleased to see the town is catching up with the market!

fatlazyless · 10-15-2010, 07:15 AM

A 'Reduced' sign just showed up on top of a real estate for sale roadside sign a couple days ago on the Meredith-Winnipesaukee waterfront at 97 Pleasant St, about 1/2 mile in from Rt 25 and the movie cinema

old asking price $1,595,000

new asking price $1,300,000

Meredith assessed value $1,187,300

annual taxes $13,606

size: .48 acre w/136' waterfront

House: 9 rooms, 3 bed, 4 baths (1 full), 4,015 finished interior square feet, 2 1/2 stories, style-Cape, 4-car detached garage w/covered & elevated walkway between house & garage

MLS #2828362 active
.........

I cannot think of anything too intelligent to say here except that a drop of $300,000 sure sounds like a huge price drop to make at one time.

.........

A couple doors up the road, also on Pleasant St, there's a waterfront ranch that first showed a 'for Sale' sign in April 2008, and while the names of the realty sales businesses have changed a couple times, it still has a 'For Sale' sign now about 30 months later.

MarkinNH · 10-15-2010, 01:20 PM

Wow, you would think that a 4,000+ SF house with 4 baths would have more then just 1 full bath.

fatlazyless · 10-15-2010, 02:43 PM

Quote:

Originally Posted by MarkinNH

Wow, you would think that a 4,000+ SF house with 4 baths would have more then just 1 full bath.

Yeah, probably what caused the $300,000 price drop. If only it had two full bathrooms........boo-hoo! Hey, that's what it says in the listing and it itemizes it into 1/2, (2)3/4 & full.

I believe there are 1/4 baths but is there such a thing as a 1/8 bathroom?

One would probably have to be very skinny to use a 1/8 bathroom

?

Grady223 · 10-19-2010, 09:55 AM

Looks like this in near the bridge on Long Island, the view and boat traffic could be bringing the value down.

fatlazyless · 12-22-2010, 02:12 PM

So, what's a double-dip anyway? Is it two scoops of ice cream on a waffle cone like what you can get at the famous Weirs Beach Kellerhaus every Wednesday for just 1.09? Is it a sledding hill like what used to be used at the Laconia Country Club where the hill would go downhill, then level out a bit, and then go downhill again? Yeh...that sounds right except what the double-dip that's been in the news lately refers to is the selling prices for residential homes......ok!

So, anyone seen any signs of the double-dip in the lakes regions? Do all those homes for sale with 'Reduced,' or 'Newly Priced' or with 'For Sale By Owner,' or just with "For Sale" signs that have been up for two years in the same spot.......are these all the signs of the double-dip?

Where-o-where is the double-dip? Inquiring minds want to know? Has anybody seen the double-dip around these here parts in the lakes region, and will 2011 become the year of the double-dip? Most likely, no one will really know it was a double-dip until it has gone past by, and some smart real estate writer in the LaDaSun talks about it from the perspective of two years after the double-dip has past us by. Like for example.....you all just remember that 2011 double-dip of two years ago......homes were stuck at a price where no one would buy them......sellers would not go lower.....buyers would not go higher......el nothing was happening.....after all, unless a buyer is paying with cash and not a mortgage....then a house can only be worth what a bank or mortgage company is willing to loan out on its' purchase. But not to worry, now that the double-dip is past history, your home will once again go up in value.......at least up in assessed value as determined by your town anyway......so not to worry!

And, sad to say, even at the famous Kellerhaus, that double-dip ice cream that sounded so good for just 1.09 on every Wednesday......guess what......the double-dip will cost you 2.18.....you can only get a single scoop for 1.09...... even at The Kellerhaus.....but boy-o-boy is it ever good ice cream.....and they have this tall athletic young lady working there who scoops the ice cream out from the big containers down in the freezer and she has a Russian-Romanian style accent and looks like she could be Vera Zvonareva's sister, the Russian tennis player........"yes darling, how will that be?"..........too bad....no double-dip at that price but yes, a single dip and definately worth it for 1.09!

So what's the latest with the double-dip?

And oh yeah, what's the latest on 35 Leaward Shores Rd since first starting this thread back in February, about ten months ago?

gf2020 · 12-22-2010, 11:16 PM

Quote:

Originally Posted by fatlazyless

And oh yeah, what's the latest on 35 Leaward Shores Rd since first starting this thread back in February, about ten months ago?

Still on the market for $879,000...

http://www.nneren.com/mls_num.php?state=&id=2816327

fatlazyless · 03-26-2011, 01:26 PM

Looks like 35 Leaward Shores Rd is still up for sale and at a price of $799,000.

3 Stonedam Island Rd sold for $600,000 and had been listed since 2007 and for as much as 1.6 million. For an interesting read on some waterfront real estate bargains check out Roy Sanborn's latest real estate blog in your favorite winnipesaukee.com website. About two years ago, I went to an open house at 3 Stonedam and a very experienced realtor from Lamprey Realty who was hosting the open house very confidently told me that "this house will sell for 1.2 million dollars." It is located directly on the entrance to Sally's Gut, the first house on the gut as you enter from the north or east side of Sally's Gut.

So, how will the two bed-three bath townhouses over at www.meredithbaynh.com, on Scenic Drive overlooking the water be priced from $500-600,000 if a beautifull house like 3 Stonedam Island Rd just sold for $600,000.

Heaven · 03-26-2011, 02:45 PM

Quote:

Originally Posted by Grady223

Looks like this in near the bridge on Long Island, the view and boat traffic could be bringing the value down.

Edited to remove the truth

Lucky1 · 03-27-2011, 03:22 PM

The quality of the water? I am always amazed at water front properties that have yellow water, or water with pond lillies and other stuff that would prevent swimming etc. I know people who have had leeches in the water from the time of purchase. When we were looking I acutally got in the water in a bathing suit to see what the water quality was and what the bottom was (sand, rock, yuck or whatever). Once it was pretty cold but as a rule of thumb it is nice to know what waterfront you are buying.

phoenix · 03-27-2011, 05:54 PM

why it can be tough to buy in the early spring you dont see what the water looks like in july

gf2020 · 07-20-2011, 10:53 AM

This property is up for foreclosure auction next week:

http://www.jsjauctions.com/details.asp?id=14910

fatlazyless · 07-20-2011, 11:32 AM

Is it accurate for me to say that the bank will set a minimum reserve amount that totally covers their unpaid mortgage loan outstanding plus the auctioneer's commission and whatever else they may want to add to the minimum amount of money before they will allow it to be sold?

What usually has been happening at waterfront foreclosure auctions in the area lately? I have absolutely no clue, but my best guess is that NOTHING has been happening because the minimum reserve amount almost always does not get bid, so there is no sale, and the bank continues to own the property. Just like there's 'for sale' signs on waterfront property that have been posted out by the street for one-two-three years time with sellers refusing to lower their asking price, and buyers refusing to raise their offer price. Waterfront property prices went up fast-fast-fast, but can take a long-long-long time to go down-down-down.

neckdweller · 07-20-2011, 12:17 PM

Quote:

Originally Posted by fatlazyless

Is it accurate for me to say that the bank will set a minimum reserve amount that totally covers their unpaid mortgage loan outstanding plus the auctioneer's commission and whatever else they may want to add to the minimum amount of money before they will allow it to be sold?

That doesn't always happen though. The bank may set the minimum below what they are owed if they calculate that the market just isn't there to recoup what they're owed - take the loss and move on. Like you mention, the owners could have mortgaged it to the hilt as the assessments went up and are now left with a mortgage that the bank can't recoup.

Since the Carroll County registry of deeds refuses to join the 20th century, let alone the 21st century, it's impossible to get the records online of what is owed on the property (the only county in the state that is like this by the way).

Don · 07-20-2011, 01:02 PM

I wanted to add our experience with an auction. For us it was a disappointment and waste of time. I'll admit that we had never been to an auction and didn't know much about how it all works.

A few years ago we heard about a condo being auctioned. We always admired them but the original $399,000 price was out of our range. We watched as year after year For Sale signs were posted and the price eventually dropped to $299,000 (still too much for us).

When we heard about the auction we decided to attend and be prepared to bid up to $150,000. We didn't think it likely that we'd win but thought it was worth a try. We drove up to the lake for the auction and were surprised that there was only one other person in attendance. The auctioneer then told us that there was a $269,000 minimum bid. That information was never mentioned in their website or emails.

As we were leaving we asked the agent if he'd like to take down our name and phone number in case they would consider a lower price. The agent said "no, we'll just put it back on the market if it doesn't sell here".

Our conclusion was that the "auction" is just another sales tool to get you in the door. It worked with us since we took a day off and drove all the way up just for this.

We later learned that what we were hoping for was an "absolute auction" where the property is sold for the highest bid with no minimums. Does anyone know if absolute auctions ever occur around the lake?

MAXUM · 07-20-2011, 02:37 PM

In reality what the assessed value of a property is irrelevant, the bottom line is the town budget needs to be paid for. The tax rate is set accordingly. So a widespread drop in assessment values may make you feel good, but the tax rate will go up to make up for the reduced property values. Either way they will get you. You may make some progress in filing and winning an abatement but to what end?

The only way to really save on your taxes is to control spending which is an idea most local, state and federal governments have yet to comprehend.

jmen24 · 07-20-2011, 03:17 PM

Quote:

Originally Posted by Don

I wanted to add our experience with an auction. For us it was a disappointment and waste of time. I'll admit that we had never been to an auction and didn't know much about how it all works.

A few years ago we heard about a condo being auctioned. We always admired them but the original $399,000 price was out of our range. We watched as year after year For Sale signs were posted and the price eventually dropped to $299,000 (still too much for us).

When we heard about the auction we decided to attend and be prepared to bid up to $150,000. We didn't think it likely that we'd win but thought it was worth a try. We drove up to the lake for the auction and were surprised that there was only one other person in attendance. The auctioneer then told us that there was a $269,000 minimum bid. That information was never mentioned in their website or emails.

As we were leaving we asked the agent if he'd like to take down our name and phone number in case they would consider a lower price. The agent said "no, we'll just put it back on the market if it doesn't sell here".

Our conclusion was that the "auction" is just another sales tool to get you in the door. It worked with us since we took a day off and drove all the way up just for this.

We later learned that what we were hoping for was an "absolute auction" where the property is sold for the highest bid with no minimums. Does anyone know if absolute auctions ever occur around the lake?

Don, being hindsight, I will only offer this as an option for you to look into next time.

Anyone that has been to New London is aware of Peter Christian's Tavern on Main Street. Well the property went up for foreclosure auction and was to be auctioned as a whole (the restaurant, all equipment, the building which included 6 other rentals and all the rights to anything that was ever PC related). When the auction started there was only one set of bidders that showed up, they were the gentleman that owns CC Tomato's and a friend of his in the real estate business. One would take the restaurant and the other would handle the rentals.

Anyway, the auctioneer started the bidding at $700K and they just stood there for a moment, talked to each other for a moment and turned to leave. The auctioneer stopped the auction and called them over, after a minute or two, he called over the bank reps (there were two seperate notes on the property, with different banks). After a brief discussion, the auctioneer started the auction again with an opening bid of $469K, the bidders raised there hands and then the auction closed.

The banks were willing to take a loss to unload a very tax heavy building. The total note that was owed was just over 1.3 million to both banks combined. One bank did get paid before the other, but I have no idea how that part was worked out, just what I saw while attending the auction as an on looker.

Next time, try and call their bluff and see how interested they really are. It can't hurt, especially if you are the only folks there to actually bid.

songkrai · 07-20-2011, 07:43 PM

Quote:

Originally Posted by gf2020

Still on the market for $879,000...

http://www.nneren.com/mls_num.php?state=&id=2816327

I usually state the the architect should be **** when I see a house like this one.

But my guess is that the original owners had the house built to their design.

Beauty is in the eye of the beholder. This one looks darn ugly for a house that must have cost a lot of money.

fatlazyless · 07-21-2011, 06:55 AM

Probably cannot blame an architect because it looks like the construction is pre-fab or modular which gets put together like giant lego blocks as opposed to individual pieces of lumber?

Could be that out of the $1,015,000 of assessed value (post #28), that perhaps 60-70% of that value was determined to be in the 1 acre of land with 300' of waterfront and not the two structures?

codeman671 · 07-21-2011, 09:50 AM

Quote:

Originally Posted by gf2020

This property is up for foreclosure auction next week:

http://www.jsjauctions.com/details.asp?id=14910

The unnofficial word on the street from a realtor friend is that it won't go to the auction block. It will probably be stopped prior to.

I attended the auction for Mountainview slip B-17 last week. I was surprised to see it go for $58k, with 6 months in back taxes and $3k in back club fees due. It is certainly well under Gilford's appraisal of $79k but I think in this market that is crazy anyway. Seven bidders showed up including myself, the total outstanding on the mortgage was only $25k.

codeman671 · 07-21-2011, 09:57 AM

Quote:

Originally Posted by fatlazyless

Probably cannot blame an architect because it looks like the construction is pre-fab or modular which gets put together like giant lego blocks as opposed to individual pieces of lumber?

Could be that out of the $1,015,000 of assessed value (post #28), that perhaps 60-70% of that value was determined to be in the 1 acre of land with 300' of waterfront and not the two structures?

It is a prefabbed modular dropped on site. I have heard the floor plan is very odd...

twins · 07-21-2011, 09:42 PM

Friends of ours rented it for a week last summer. I'm sorry to say that the inside makes the outside look much better by comparison! I think the value of the property is the land minus the cost of a couple gallons of diesel fuel for the bulldozer.

fatlazyless · 02-26-2013, 08:15 AM

Saw a foreclosure auction notice in the newspaper for this house yesterday.......wait and see what happens to it?

.......hmmmm.....am trying to think of something intelligent to say here .... but am coming up totally empty ... so what's the long and the short on this 35 Leaward Shores Rd foreclosure sale? ..... have the property taxes been getting paid? ..... how much is the foreclosure auction reserve price? .... what bank or mortgage company now owns this property? ..... what is the projected lowest amount the seller will sell at? .... and what the H is happening here? ....questions, questions, questions ....anyone have any answers?

What are the tell-tale signs that the Moultonborough property tax/month is killing the sale of this house or is it just an ugly house with an unusual interior layout or a combination of both; high prop taxes and not-so-nice house?

codeman671 · 02-26-2013, 11:25 AM

This one has come on and off the auction block a few times. I heard from a realtor friend that it is a train-wreck of a layout inside. Almost pre-fab quality.

Being Moultonborough, the taxes should not be that bad. Certainly better than if it was in Gilford...

JSJ has the auction listing, they typically dont disclose much until the day of the actual auction.

fatlazyless · 02-26-2013, 12:25 PM

Here is the listing for the March 12, 2013 auction at the house in Moultonborough with ten photos:

http://jsjauctions.com/details.asp?id2539

...hate to say it but.....you know.....if the owner had never built that large victorian style house and just been happy with the small waterfront cottage....they would probably still own it .... plus a small waterfront cottage can be very nice .... just my two cents!

BroadHopper · 02-26-2013, 12:31 PM

Seems like prices on the lake are up and down like a yo yo these days. I remember a certain property off Tirrell Hill Rd in Gilford sold for $395K in 1998. The guy flipped the property around 2005 for 1.3 mill. Only to be foreclosed by the bank in 2008 for $700K. The bank sold the property in 2010 for $500K, a huge loss. Today, I notice the current owner is trying to flip the property for $900K.

I guess location also bring greed.

RailroadJoe · 02-26-2013, 02:21 PM

I'd tear the monster down and use the little guy.

winterh · 02-26-2013, 05:47 PM

Just had the unfortunate experience of following the link and looking at that house. What the heck was the owner or builder thinking! To paraphrase an old saying "I don't know what the architect got for designing that house but he should have got shot"

02-16-2010, 11:19 AM	#1
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	35 Leaward Shores Rd, Moultonborough Very nice looking 3-story victorian house, built in 2007, on 1-acre w/ 300' wf, 10 rms, 4 bed, 4 bath, plus a small guest cottage, totally modern house w/ modern septic & well MLS-2816327 Assessed $1,432,300 Annual prop tax $11,026 Asking price $989,000 ........... At 989,000, that is 69% of the assessed Moultonborough value. I am not at all familiar with today's local waterfront market, and maybe it's just a case of what goes up, must come down, and now that the mortgage credit lending market has changed, the prices are falling fast? Is this type of .69 of assessed value seen around the lake now as being not unusual? What I don't know is how many days on the market, and at what prices, leading down to current asking price. $989,000......is that a steal-of-a-deal.....or will it be worth less, come next year? I have no clue? .. __________________ ... down and out, liv'n that Walmart side of the lake!

02-18-2010, 12:02 AM	#6
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	$443,300 is the difference between the currently assessed 1,432,300 value, and the 989,000 asking price, and 443,300 is obviously a very large amount. So, what exactly has happened here? What is a reasonable and intelligent reason that explains the large drop in value? Was it ever really worth that $1,432,300 in the past few years? Are assessments simply a hypothetical value that only exist in the town's rosie outlook for high property values? __________________ ... down and out, liv'n that Walmart side of the lake!

10-11-2010, 12:16 PM	#14
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	35 Leaward Shores Rd., Moultonborough, still up for sale and now at an asking price of $879,000, down from $989,000, last February. Wonder what it's assessed for now? Is it still $1,432,300 as it was in February, 2010, from a post above? Thankyou link to Moultonborough 'for sales' in the Roy Sanborn we(b log)! __________________ ... down and out, liv'n that Walmart side of the lake!

10-15-2010, 07:15 AM	#18
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	Waterfront-Reduced A 'Reduced' sign just showed up on top of a real estate for sale roadside sign a couple days ago on the Meredith-Winnipesaukee waterfront at 97 Pleasant St, about 1/2 mile in from Rt 25 and the movie cinema old asking price $1,595,000 new asking price $1,300,000 Meredith assessed value $1,187,300 annual taxes $13,606 size: .48 acre w/136' waterfront House: 9 rooms, 3 bed, 4 baths (1 full), 4,015 finished interior square feet, 2 1/2 stories, style-Cape, 4-car detached garage w/covered & elevated walkway between house & garage MLS #2828362 active ......... I cannot think of anything too intelligent to say here except that a drop of $300,000 sure sounds like a huge price drop to make at one time. ......... A couple doors up the road, also on Pleasant St, there's a waterfront ranch that first showed a 'for Sale' sign in April 2008, and while the names of the realty sales businesses have changed a couple times, it still has a 'For Sale' sign now about 30 months later. __________________ ... down and out, liv'n that Walmart side of the lake!

10-19-2010, 09:55 AM	#21
Grady223 Senior Member Join Date: Apr 2004 Location: New Hope, PA & Barndoor Island Posts: 464 Thanks: 93 Thanked 24 Times in 18 Posts	35 Leaward Shores Rd., Moultonborough Looks like this in near the bridge on Long Island, the view and boat traffic could be bringing the value down.

02-16-2010, 11:30 AM	#2
Dr. Green Member Join Date: Mar 2009 Posts: 38 Thanks: 0 Thanked 3 Times in 3 Posts	A lot of property is going for less than its assessed value. Assessed value follows appraised value by several years. I was looking at a commercial property recently with an asking price near its assessed value. I decided to get an appraisal, and the appraised value was roughly 75% of the assessed value (and asking price).

02-16-2010, 11:47 AM	#3
dpg Senior Member Join Date: Apr 2004 Posts: 2,560 Thanks: 149 Thanked 229 Times in 166 Posts	Yikes...$1,000 monthly tax burden.

02-16-2010, 11:58 AM	#4
Sue Doe-Nym Senior Member Join Date: Jul 2009 Posts: 1,372 Thanks: 710 Thanked 758 Times in 393 Posts	This property has been on the market for well over a year and has been a Preferred Rental unit. Do not know what condition it is in but it makes you think. Recently million plus waterfront properties have been the only ones selling above assessed value which gets back to the question of what condition is it in and is a sale subject to existing rentals.

02-17-2010, 02:51 PM	#5
DoTheMath Senior Member Join Date: Apr 2004 Location: MA / Moultonborough Posts: 146 Thanks: 46 Thanked 43 Times in 18 Posts	Not the most aesthetically pleasing place I have ever seen, and if it has been a rental unit as well... good luck! That could be Pandoras Box just looking for someone to open 'er up.

02-18-2010, 08:26 AM	#9
jrc Senior Member Join Date: Apr 2004 Location: NH Posts: 2,689 Thanks: 33 Thanked 439 Times in 249 Posts	http://www.bloggingstocks.com/2009/0...n-home-prices/ "It has definitely been a tough couple of years for homeowners, especially those who have only recently bought their homes. As of December homes were, on average, 27% lower than they were in the housing peak of mid 2006, creating some serious headaches for homeowners who have seen their mortgages go under water." $1,432,300 x 27% = $386,721 that's pretty close

02-18-2010, 10:21 AM	#10
DoTheMath Senior Member Join Date: Apr 2004 Location: MA / Moultonborough Posts: 146 Thanks: 46 Thanked 43 Times in 18 Posts	Something - anything for that matter - is only (really) worth what someone else is willing to pay for it.

The Following User Says Thank You to DoTheMath For This Useful Post:
AC2717 (07-20-2011)

02-18-2010, 12:35 PM	#13
NoRegrets Senior Member Join Date: Jun 2007 Location: Hudson - NH Posts: 408 Thanks: 233 Thanked 212 Times in 88 Posts	One problem with taxing RE on paid price is attaching reasonability to the price. Your parent may sell you a property for 100 dollars. When would the proper evaluation be applied?

10-11-2010, 01:00 PM	#15
gf2020 Senior Member Join Date: Feb 2009 Location: North of Boston Posts: 203 Thanks: 11 Thanked 35 Times in 28 Posts	Not my style, but probably a good value. The current assessment is $1,427,200. There has been considerable discussion that the Moultonborough assessments have no relationship with current market values.

10-12-2010, 07:53 PM	#16
MarkinNH Senior Member Join Date: Mar 2010 Posts: 392 Thanks: 177 Thanked 146 Times in 76 Posts	When you go to the MLS listing on "Realtor.com" the listing shows a price of $879,000. Maybe it has been reduced again.

10-14-2010, 11:43 PM	#17
kauriel Senior Member Join Date: Jul 2010 Location: Laconia, N. MA Posts: 290 Thanks: 119 Thanked 62 Times in 44 Posts	We just bought a place in Laconia that was assessed for $111,800 and was re-assessed last month for $68,600. Thankfully the new assessment is much closer to our purchase price so we were pleased to see the town is catching up with the market!

10-15-2010, 01:20 PM	#19
MarkinNH Senior Member Join Date: Mar 2010 Posts: 392 Thanks: 177 Thanked 146 Times in 76 Posts	Wow, you would think that a 4,000+ SF house with 4 baths would have more then just 1 full bath.

12-22-2010, 02:12 PM	#22
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	...the so-called "double-dip"? So, what's a double-dip anyway? Is it two scoops of ice cream on a waffle cone like what you can get at the famous Weirs Beach Kellerhaus every Wednesday for just 1.09? Is it a sledding hill like what used to be used at the Laconia Country Club where the hill would go downhill, then level out a bit, and then go downhill again? Yeh...that sounds right except what the double-dip that's been in the news lately refers to is the selling prices for residential homes......ok! So, anyone seen any signs of the double-dip in the lakes regions? Do all those homes for sale with 'Reduced,' or 'Newly Priced' or with 'For Sale By Owner,' or just with "For Sale" signs that have been up for two years in the same spot.......are these all the signs of the double-dip? Where-o-where is the double-dip? Inquiring minds want to know? Has anybody seen the double-dip around these here parts in the lakes region, and will 2011 become the year of the double-dip? Most likely, no one will really know it was a double-dip until it has gone past by, and some smart real estate writer in the LaDaSun talks about it from the perspective of two years after the double-dip has past us by. Like for example.....you all just remember that 2011 double-dip of two years ago......homes were stuck at a price where no one would buy them......sellers would not go lower.....buyers would not go higher......el nothing was happening.....after all, unless a buyer is paying with cash and not a mortgage....then a house can only be worth what a bank or mortgage company is willing to loan out on its' purchase. But not to worry, now that the double-dip is past history, your home will once again go up in value.......at least up in assessed value as determined by your town anyway......so not to worry! And, sad to say, even at the famous Kellerhaus, that double-dip ice cream that sounded so good for just 1.09 on every Wednesday......guess what......the double-dip will cost you 2.18.....you can only get a single scoop for 1.09...... even at The Kellerhaus.....but boy-o-boy is it ever good ice cream.....and they have this tall athletic young lady working there who scoops the ice cream out from the big containers down in the freezer and she has a Russian-Romanian style accent and looks like she could be Vera Zvonareva's sister, the Russian tennis player........"yes darling, how will that be?"..........too bad....no double-dip at that price but yes, a single dip and definately worth it for 1.09! So what's the latest with the double-dip? And oh yeah, what's the latest on 35 Leaward Shores Rd since first starting this thread back in February, about ten months ago? __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 12-22-2010 at 03:16 PM.

03-26-2011, 01:26 PM	#24
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	Looks like 35 Leaward Shores Rd is still up for sale and at a price of $799,000. 3 Stonedam Island Rd sold for $600,000 and had been listed since 2007 and for as much as 1.6 million. For an interesting read on some waterfront real estate bargains check out Roy Sanborn's latest real estate blog in your favorite winnipesaukee.com website. About two years ago, I went to an open house at 3 Stonedam and a very experienced realtor from Lamprey Realty who was hosting the open house very confidently told me that "this house will sell for 1.2 million dollars." It is located directly on the entrance to Sally's Gut, the first house on the gut as you enter from the north or east side of Sally's Gut. So, how will the two bed-three bath townhouses over at www.meredithbaynh.com, on Scenic Drive overlooking the water be priced from $500-600,000 if a beautifull house like 3 Stonedam Island Rd just sold for $600,000. __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 03-28-2011 at 07:22 AM.

03-27-2011, 03:22 PM	#26
Lucky1 Senior Member Join Date: Oct 2009 Location: Moultonborough and FL Posts: 459 Thanks: 318 Thanked 123 Times in 53 Posts	Would be interesting to see........ The quality of the water? I am always amazed at water front properties that have yellow water, or water with pond lillies and other stuff that would prevent swimming etc. I know people who have had leeches in the water from the time of purchase. When we were looking I acutally got in the water in a bathing suit to see what the water quality was and what the bottom was (sand, rock, yuck or whatever). Once it was pretty cold but as a rule of thumb it is nice to know what waterfront you are buying.

03-27-2011, 05:54 PM	#27
phoenix Senior Member Join Date: Apr 2004 Location: phoenix and moultonboro Posts: 1,519 Thanks: 58 Thanked 265 Times in 186 Posts	why it can be tough to buy in the early spring you dont see what the water looks like in july __________________ it's tough to make predictions specially about the future

07-20-2011, 10:53 AM	#28
gf2020 Senior Member Join Date: Feb 2009 Location: North of Boston Posts: 203 Thanks: 11 Thanked 35 Times in 28 Posts	This property is up for foreclosure auction next week: http://www.jsjauctions.com/details.asp?id=14910

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fatlazyless (07-20-2011)

07-20-2011, 11:32 AM	#29
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	Is it accurate for me to say that the bank will set a minimum reserve amount that totally covers their unpaid mortgage loan outstanding plus the auctioneer's commission and whatever else they may want to add to the minimum amount of money before they will allow it to be sold? What usually has been happening at waterfront foreclosure auctions in the area lately? I have absolutely no clue, but my best guess is that NOTHING has been happening because the minimum reserve amount almost always does not get bid, so there is no sale, and the bank continues to own the property. Just like there's 'for sale' signs on waterfront property that have been posted out by the street for one-two-three years time with sellers refusing to lower their asking price, and buyers refusing to raise their offer price. Waterfront property prices went up fast-fast-fast, but can take a long-long-long time to go down-down-down. __________________ ... down and out, liv'n that Walmart side of the lake!

07-20-2011, 01:02 PM	#31
Don Member Join Date: Apr 2004 Posts: 34 Blog Entries: 1 Thanks: 6 Thanked 15 Times in 7 Posts	I wanted to add our experience with an auction. For us it was a disappointment and waste of time. I'll admit that we had never been to an auction and didn't know much about how it all works. A few years ago we heard about a condo being auctioned. We always admired them but the original $399,000 price was out of our range. We watched as year after year For Sale signs were posted and the price eventually dropped to $299,000 (still too much for us). When we heard about the auction we decided to attend and be prepared to bid up to $150,000. We didn't think it likely that we'd win but thought it was worth a try. We drove up to the lake for the auction and were surprised that there was only one other person in attendance. The auctioneer then told us that there was a $269,000 minimum bid. That information was never mentioned in their website or emails. As we were leaving we asked the agent if he'd like to take down our name and phone number in case they would consider a lower price. The agent said "no, we'll just put it back on the market if it doesn't sell here". Our conclusion was that the "auction" is just another sales tool to get you in the door. It worked with us since we took a day off and drove all the way up just for this. We later learned that what we were hoping for was an "absolute auction" where the property is sold for the highest bid with no minimums. Does anyone know if absolute auctions ever occur around the lake?

07-20-2011, 02:37 PM	#32
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 246 Thanked 1,942 Times in 802 Posts	In reality what the assessed value of a property is irrelevant, the bottom line is the town budget needs to be paid for. The tax rate is set accordingly. So a widespread drop in assessment values may make you feel good, but the tax rate will go up to make up for the reduced property values. Either way they will get you. You may make some progress in filing and winning an abatement but to what end? The only way to really save on your taxes is to control spending which is an idea most local, state and federal governments have yet to comprehend.

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Heaven (07-21-2011)

07-21-2011, 06:55 AM	#35
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	Probably cannot blame an architect because it looks like the construction is pre-fab or modular which gets put together like giant lego blocks as opposed to individual pieces of lumber? Could be that out of the $1,015,000 of assessed value (post #28), that perhaps 60-70% of that value was determined to be in the 1 acre of land with 300' of waterfront and not the two structures? __________________ ... down and out, liv'n that Walmart side of the lake!

07-21-2011, 09:42 PM	#38
twins Member Join Date: Jun 2006 Location: Gem Island/St Petersburg FL Posts: 33 Thanks: 1 Thanked 2 Times in 2 Posts	Friends of ours rented it for a week last summer. I'm sorry to say that the inside makes the outside look much better by comparison! I think the value of the property is the land minus the cost of a couple gallons of diesel fuel for the bulldozer.

02-26-2013, 08:15 AM	#39
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	Saw a foreclosure auction notice in the newspaper for this house yesterday.......wait and see what happens to it? .......hmmmm.....am trying to think of something intelligent to say here .... but am coming up totally empty ... so what's the long and the short on this 35 Leaward Shores Rd foreclosure sale? ..... have the property taxes been getting paid? ..... how much is the foreclosure auction reserve price? .... what bank or mortgage company now owns this property? ..... what is the projected lowest amount the seller will sell at? .... and what the H is happening here? ....questions, questions, questions ....anyone have any answers? What are the tell-tale signs that the Moultonborough property tax/month is killing the sale of this house or is it just an ugly house with an unusual interior layout or a combination of both; high prop taxes and not-so-nice house? __________________ ... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 02-26-2013 at 10:52 AM.

02-26-2013, 11:25 AM	#40
codeman671 Senior Member Join Date: Jan 2005 Posts: 3,360 Thanks: 210 Thanked 764 Times in 448 Posts	This one has come on and off the auction block a few times. I heard from a realtor friend that it is a train-wreck of a layout inside. Almost pre-fab quality. Being Moultonborough, the taxes should not be that bad. Certainly better than if it was in Gilford... JSJ has the auction listing, they typically dont disclose much until the day of the actual auction.

02-26-2013, 12:25 PM	#41
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,526 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	Here is the listing for the March 12, 2013 auction at the house in Moultonborough with ten photos: http://jsjauctions.com/details.asp?id2539 ...hate to say it but.....you know.....if the owner had never built that large victorian style house and just been happy with the small waterfront cottage....they would probably still own it .... plus a small waterfront cottage can be very nice .... just my two cents! __________________ ... down and out, liv'n that Walmart side of the lake!

02-26-2013, 12:31 PM	#42
BroadHopper Senior Member Join Date: Oct 2004 Location: Laconia NH Posts: 5,512 Thanks: 3,118 Thanked 1,090 Times in 784 Posts	Lakefront Property Seems like prices on the lake are up and down like a yo yo these days. I remember a certain property off Tirrell Hill Rd in Gilford sold for $395K in 1998. The guy flipped the property around 2005 for 1.3 mill. Only to be foreclosed by the bank in 2008 for $700K. The bank sold the property in 2010 for $500K, a huge loss. Today, I notice the current owner is trying to flip the property for $900K. I guess location also bring greed. __________________ Someday may never be an actual day.

02-26-2013, 02:21 PM	#43
RailroadJoe Senior Member Join Date: Jan 2010 Posts: 620 Thanks: 259 Thanked 158 Times in 100 Posts	I'd tear the monster down and use the little guy.

02-26-2013, 05:47 PM	#44
winterh Senior Member Join Date: Jun 2009 Posts: 230 Thanks: 21 Thanked 119 Times in 54 Posts	Just had the unfortunate experience of following the link and looking at that house. What the heck was the owner or builder thinking! To paraphrase an old saying "I don't know what the architect got for designing that house but he should have got shot"