Fearful Times Call For Fresh Thinking
-by Peter Francese  Dec 2007

The national headlines could hardly be scarier: “Credit crunch!” “Widespread foreclosures!” “Plunging home values!”  It’s enough to make even the most cool-headed REALTOR® a trifle anxious.  And then the word “recession” is thrown around just to frighten us some more.
  
 
The next time you hear those phrases, please keep this in mind:  It’s always the most frightening leads that get the biggest TV and print audiences – something national media firms need to survive in their hyper-competitive industry.We know that New Hampshire real estate and economic conditions are much better than other parts of the nation, but that reassuring story has trouble competing with those that forecast imminent doom.  To be fair, we certainly have economic issues to be concerned about, but succumbing to fear won’t help us solve them. 

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Home for Christmas

Sales for residential homes for the towns listed came in at a total of 55 units sold in Nov. 2007 compared to 62 in Nov. 2006. Belknap County overall was off a little more with 49 sales compared to 65 last Nov. While sales are definitely slower than in the past two years, Belknap County has shown an increase in the average sales price of residential homes which is in part due to a larger number of sales of high end homes. The average sales price has increased from $326,788 in 2005, to $328,694 in 2006, and $365,130 so far this year. The median price of homes has remained consistently in the $238-240,000 range for the past three years.

Click on this link to view report:

market-report-dec-26, 2007.doc

Here’s a report of all the sales on the Big Lake in November of 2007. Who says you can’t sell a waterfront when it is cold outside??

Click on this link to view report:

nov-2007-winnipesaukee-sales.doc

Are we there yet?

As 2007 is winding down, so are the number of residential listings which have dropped to 907 in the eleven towns listed.

It kind of reminds me of the kids in the back seat relentlessly asking “Are we there yet?” The new version is: “Do you think we have reached the bottom of the market yet?” It always seems to be the main topic of discussion whenever REALTORS®, mortgage brokers, buyers, or sellers get together. I certainly don’t have a crystal ball, but I believe the coming year will bring a new and positive attitude to the market.

Click on this link to view report:

market-report-dec-26, 2007.doc

CONSTRUCTION BEGINS AT
  AKWA MARINA YACHT & BEACH CLUB

After more than four years of planning and permitting, the partners at Meredith Bay announced today that Phase I construction at Akwa Marina Yacht & Beach Club at Meredith Bay has begun.

“This is a day we’ve been planning for quite some time.  I’m delighted to see my vision for the finest marina and beach club on Lake Winnipesaukee take shape and I look forward to its completion by next summer. I am grateful to the State and Local officials who helped us through the permitting process and I look forward to sharing this marina and beach club with the residents of Meredith Bay and with those boaters looking for a unique lake experience,” said Richard Mailloux, Partner of Meredith Bay and Developer of Akwa Marina Yacht & Beach Club.

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