Roy Sanborn - The speed of "ahhh'

  • Published in Columns

There were 64 residential home sales in March in the 12 towns listed in this Lakes Region of N.H. real estate report. That's a 12-percent increase over last March. The average sales price came in at $314,161 last month compared to just under $300,000 last year. There were four sales over the million dollar mark bolstering the average sales price. Exactly 50-percent of the sales were under $200,000.

For the first quarter of 2012, there were 171 residential single family home ...

There were 64 residential home sales in March in the 12 towns listed in this Lakes Region of N.H. real estate report. That's a 12-percent increase over last March. The average sales price came in at $314,161 last month compared to just under $300,000 last year. There were four sales over the million dollar mark bolstering the average sales price. Exactly 50-percent of the sales were under $200,000.

For the first quarter of 2012, there were 171 residential single family home transactions. Sales are up 18-percent for the quarter compared to the first quarter of 2011 and 24-percent over 2010! There were seven sales exceeding a million dollars this year compared to just four last year. The lower priced properties are getting an increasing share of the total sales. Transactions under the $200,000 mark represented 51-percent of the total number of sales in the first quarter of 2010 and 2011 but increased to 59-percent in 2012.

The average sales price for the first quarter of 2012 came in at $272,526 which was very close to the $272,854 last year but off the $308,062 posted in for the first quarter of 2010. Anyway, this is a great start for the new year with significantly better activity for showings and sales. Every real estate agent, home inspector, appraiser, lender, and closing agent I have spoken to has remarked that they are seeing an increase in activity as well. Scary, isn’t it?

I like to see what homes sell quickly and try to figure out why as other homes sit for years on the market. There should be an easy explanation why certain homes sell extremely quickly. There was one home that sold the same day that it came on the market up at 38 Oslo Street in Moultonborough. I always suspect that the agent had a buyer lined up when the property came on the market when I see this. This home was a nice 1700-square-foot, two bedroom, two bath Skiffington-built home in 1998 in the water access community of Suissevale. I can’t tell you a lot about it as it sold so fast the agent didn’t have to put any pictures in the MLS. It was listed at $199,000 and sold for $180,000. The property was listed last year at $239,900 with no takers. So you might argue it didn’t sell the same day it was listed, but you can say it sold the same day it was listed at the right price. The current tax assessment is $194,900 so it seems that this was a pretty good deal and a great way to have access to Winnipesaukee this summer.

Over at 357 Old Lakeshore Road in Gilford, what appears to be a picture perfect 1,908-square-foot, three bed, three bath cape sold in one day (really--one day.) Why? Well, I am not sure if the house was perfect, but the pictures sure make it look that way. The home has a nice open layout with hardwood floors, a well appointed kitchen with center island and what appear to be stainless appliances, a living room with wood stove, a family room off the kitchen, and a spacious deck with a hot tub. The house sits on a private 2.76-acre lot with lots of privacy. It was priced at $214,000 and sold at full price which is well under the assessed value of $235,240. Not a lot of arguing went on here! It looks like a great property that was presented well and was offered at the right price. Sold!

A wonderful antique cape with all the charm and curb appeal of a Currier and Ives painting sold in just two days at 30 Pleasant Street in Meredith. This 1875 vintage home has 1,400-square-feet of living space, three bedrooms, one bath, two wood stoves, and lots of upgrades including Brazilian hardwood flooring. There's a great wrap-around porch to sit on and a picket white fence to complete the picture. As an added bonus there is also a 28-foot boat slip included about 100 yards away at the Meredith Nautical Club! Sweet! This property is assessed at $162,800 and was listed at $199,900 and sold for $200,500. What’s that tell you. It was a pretty nice deal especially with the boat slip and I suspect there were several interested parties...

There were a number of other sales that happened at the speed of “Ahhh.” The speed of “Ahhh” is extremely fast. It’s equivalent to the speed of light but in the alternate reality of real estate sales. It is usually achieved when a switch in the buyer’s brain gets tripped and jolts the bejesus out of him. The buyer has the proverbial epiphany and realizes that (a) “Ahhh, this is a really, really nice property” or (b) “Ahhh, this is a really, really great price”, or (c) both, in which case that is when the “Ahhh, haaa” moment happens. “Ahhh Haaa” houses always sell very quickly. Take a look at the pictures of these properties and more on www.lakesregionrealestatenews.com and see if you think these deals are "Ahhhsome."

Log on to my blog at www.lakesregionrealestatenews.com for all the latest real estate news and listings. You can also receive these reports by email. Roy Sanborn is a REALTOR® for Roche Realty Group, at 97 Daniel Webster Highway in Meredith and can be reached at 677-8420. Data was compiled as of 4/16/11 using the Northern New England Real Estate MLS System.