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Major Changes Affecting Waterfront Property!

New Hampshire is getting ready to make some major changes to the Comprehensive Shoreland Protection Act (CSPA). These new changes which are supposed to go into effect July 1, 2008 will have a significant impact on waterfront properties. The new regulations will severely limit what you can do to landscape and expand a waterfront property.

I foresee that this will bring the value on waterfront camps down and raise the value of waterfront homes that already have done significant amounts of landscaping and expansion. Fortunately there are some great contacts out there and websites to help people understand what is going on

Because of the changes mentioned above, it has become more imperative to enlist the expertise of a specialist. An excellent company who I have used recently is Shorefront Planning Associates. Their website www.shorefrontplanning.com, has become a necessity for today’s waterfront buyer in assisting them to fully understand the new rules and in helping clarify what is truly possible on their waterfront lot of choice.

Below are some summaries of the major issues involved with these changes. I got this information from the NH Shorefront Association website and this LINK will take you to the page that further discusses below.

WHAT PROPERTIES DOES REVISED RSA 483-B THE CSPA REGULATE?

The revised CSPA (RSA 483-B) regulates all property within 250 ft of the "reference line" of water bodies including; lakes, ponds, rivers, tidal waters, "designated rivers", and fourth order streams. In layman's terms, if there is water adjacent to your property on a year-round basis, you are most likely regulated under RSA 483-B the CSPA. If you are not sure, consult NH DES or a water or wetlands professional.

PERMIT REQUIRED
Most all work within the protected shoreland now requires a formal permit from the NH DES Shoreland Division (there are a few exceptions - see CSPA rules). Work in the bank that requires and receives a NH DES Wetlands Bureau Permit will not be required to seek a separate CSPA permit, but will be reviewed such that the project meets the CSPA standards related to the project...

IMPERVIOUS LIMITS
All land within the protected shoreland is now subject to impervious surface limits of 20% or 30% coverage subject to varying levels of environmental protections and stormwater management (see above)...

WATERFRONT BUFFER
All land within 50 ft of the reference line is now subject to tree cutting and ground cover impact restrictions based upon a 50 ft x 50 ft grid system and is called the "Waterfront Buffer"...

UNDISTURBED AREA
All land in the "Woodland Buffer" (150 ft of the reference line) is now subject to a restriction on disturbance - 50% of the area outside the impervious area limits must be maintained in an "unaltered state" including temporary impacts (see amendment for less than 1/2 acres lots - see above)...see changes for smaller lots in amended SB-352...

STATEWIDE 50 ft SETBACK
All new primary structures must be set back at least 50 ft from the reference line statewide (towns and cities cannot set lower limits, but may enact greater standards)...

Click HERE for NHDES summary of the CSPA as of the April 1, 2008

Source:

http://sunapeeregionblog.com/2008/06/24/major-changes-affecting-waterfront-property/

Not ready to sell? Thinking about selling but not sure where to spend "pre-market" money?

Kitchens, bathrooms, and flooring have been the typical areas to target but things are changing! Don't get me wrong, those areas are very important, but with heating oil at well over $4/gallon it is important to focus on maximizing your homes efficiency. There is a whole slue of options out there that don't cost an arm and a leg to do and there are also ways to spend large amounts of money.

Below are two fairly budget sensitive options.

• Tankless Hot Water Heaters--On demand hot water forever. This is an excellent option if you don't have oil heat. I have one in my house and it is remarkable, plus it resulted in around a 10% savings in my heating cost. Check out their website Here

• Energy Audit--A certified technician can come to your home and calculate where your primary heat loss on the property is and help you determine what you can do to solve this problem. Typically it comes down to adding more insulation in the attic, basement and garage (if attached). A great NH contact for this is Gretchen Tillson from GDS Associates in Manchester NH. 603-656-0336 www.gdsassociates.com

If you'd like to invest a bit more into your home the following options can get big results

• Solar panels for your hot water. This of course requires solar panels and then you need to have a hot water storage tank. I am a big fan of Viessmann Boilers and products so check out their solar product line Here.

• When was the last time you had your heating system serviced? You know, that thing lurking in your basement that you only notice when there's a problem? This is a great area where you can make a huge improvement on your heating costs if you have an older outdated system. Viessmann has a wall mounted condensing boiler that's only slightly larger than the tankless hot water heaters I mentioned above. This boiler gets a 95.2% efficiency rating which is huge considering most peoples systems are typically in the 70 to 80% range. Here's its page and this link will take you to the rest of Viessmann's product line

• Appliances--If you have older appliances buying some energy star rated systems can be a great start. I'm personally a fan of the Kenmore product line..here's their page on Sear's website. Beyond the great looks of new appliances you can expect you electric bill go go down slightly, plus buyers with love it.

If you are considering new construction an excellent site to check out is Green Builder Mag. They have tons of information on Green Products and energy efficient systems and materials for your home.

Source:
http://sunapeeregionblog.com/2008/06/21/not-ready-to-sell-thinking-about-selling-but-not-sure-where-to-spend-pre-market-money/

May 2008 Sales

Now that we are past Memorial Day, summer has kicked off in full swing in the Sunapee area (regardless of prices we are seeing at the pump). Golf tournaments are dominating the country club scene, local theaters have opened their doors for summer productions, road races and rallies are defying the black fly season and art lovers are making their way around to the local galleries.

The Sunapee region has truly embraced the start of the season, for a calendar of the ongoing activities you may want to check out the Lake Sunapee Region Chamber of Commerce calendar Here as well as the Mount Sunapee calendar of events Here.

Historical Sales For Our 16 Local Towns
January 2006—23 Sales
January 2007—29 Sales
January 2008—27 Sales
February 2006—26 Sales
February 2007—30 Sales
February 2008—25 Sales
March 2006—35 Sales
March 2007—38 Sales
March 2008—17 Sales
April 2006—46 Sales
April 2007—28 Sales
April 2008—21 Sales
May 2006—56 Sales
May 2007—53 Sales
May 2008—34 Sales

• 34 properties went under agreement this past month
  

Andover, NH

• $165,000—123 Franklin Highway, Andover NH
• $264,900—101 Lockwood Rd, Andover NH

Grantham NH

• $30,000—9 Beech Ridge Rd, Grantham NH
• $160,000—17 Barn Owl Overlook, Grantham NH
• $167,000—10 Highwood Way, Grantham NH
• $220,000—27 Greensward Drive, Grantham NH
• $252,500—19 Deer Run, Grantham NH
• $270,000—45 Troon Drive, Grantham NH
• $325,000—28 Slalmon Drive, Grantham NH
• $364,000—11 Fairway Drive, Grantham NH
• $399,000—490 Dunbar Hill Rd, Grantham NH

Lempster NH

• $105,000—201 Nichols, Lempster NH
• $270,000—412 Dodge Hollow Rd, Lempster NH

New London NH

• $539,500—123 Spruce Lane, New London NH

Newbury NH

• $272,050—14 Pinecliff Rd, Newbury NH
• $430,000—51 Richards Rd, Newbury NH

Newport NH

• $155,000—122 North Main St, Newport NH
• $167,000—14 Fairway Ave, Newport NH
• $175,000—30 School St, Newport NH
• $180,000—28 Karlene St, Newport NH
• $225,000—44 Golf Club Rd, Newport NH

Springfield NH

• $127,900—1595 Stoney Brook Rd, Springfield NH
• $268,000—256 Hogg Hill Rd, Springfield NH

Sunapee NH

• $1,032,500—39 Lake Ave, Sunapee NH
• $1,390,000—42 Garnet St, Sunapee NH

Sutton NH

• $157,000—329 Route 114, Sutton NH
• $268,000—1779 Route 114, Sutton NH

Warner NH

• $252,000—89 Poverty Plains Rd, Warner NH

Washington NH

• $109,000—56 Faxon Hill Rd, Washington NH
• $204,000—23 Harrison, Washington NH
• $290,000—290 Coolidge Drive, Washington NH
• $350,000—11 Birch Point Way, Washington NH

Wilmot NH

• $172,800—10 Stevens Rd, Wilmot NH
• $238,000—45 Jewell Rd, Wilmot NH
• $239,000—114 Stearns Rd, Wilmot NH

No Sales in May for the following towns:
Bradford, Croydon, Goshen, Unity

Source:
http://sunapeeregionblog.com/2008/06/03/may-2008-sales/

Some Positive News For The Northeast!

New-Home Sales Surge in Northeast

Sales of new homes were up 3.3 percent in April, the first increase in six months, according to the U.S. Commerce Department’s monthly report.

The rebound reflected a 41.7 percent surge in demand in the Northeast. Sales were up 8.3 percent in the West and 5.8 percent in the Midwest. They fell by 2.4 percent in the South.

The inventory of unsold new homes was down slightly to 10.6 months’ supply at the April sales pace, compared with 11.1 months in March.

The increase brought sales to a seasonally adjusted annual rate of 526,000.

The median price of new homes sold in April fell to $246,100, down 4.2 percent compared with April 2007.

Source: The Associated Press, Martin Crutsinger (05/27/2008) (www.realtor.org)

Source:
http://sunapeeregionblog.com/2008/05/29/some-positive-news-for-the-northeast/

April 2008 Sales

In looking at all these statistics you can really see how the market has been affected. For April, sales are down compared to previous years, but not as bad as March was.

On a more positive note, there were 41 listings that went under agreement this April.

Historical Sales For Our 16 Local Towns

January 2006—23 Sales
January 2007—29 Sales
January 2008—27 Sales
February 2006—26 Sales
February 2007—30 Sales
February 2008—25 Sales
March 2006—35 Sales
March 2007—38 Sales
March 2008—17 Sales
April 2006—46 Sales
April 2007—28 Sales
April 2008—21 Sales

Bradford NH

• $235,000—62 Melvin Mills Rd, Bradford NH

Grantham NH

• $190,000—10 Summit Dr, Grantham NH
• $216,574—68 Greensward Dr, Grantham NH
• $279,000—22 Slalom Dr, Grantham NH

Lempster NH

• $162,500—279 Grandview Rd, Lempster NH
• $163,000—133 School Rd, Lempster NH

New London NH

• $520,000—39 Sargent Rd, New London NH

Newbury NH

• $246,900—155 Morse Hill Rd, Newbury NH
• $950,000—115 Baypoint Rd, Newbury NH

Newport NH

• $107,000—59 Green Rd, Newport NH
• $148,300—120 South Main St, Newport NH
• $153,000—194 North Main St, Newport NH
• $159,900—140 Barton Whitney Rd, Newport NH

Springfield NH

• $417,000—9 Spring Glen, Springfield NH

Sutton NH

• $210,500—15 Newbury Rd, Sutton NH
• $567,500—60 Southfield Rd, Sutton NH

Unity NH

• $331,500—30 Shorewood Estates, Unity NH
• $400,000—170 Lear Hill Rd, Unity NH
• $1,000,000—593 Lear Hill Rd, Unity NH

Warner NH

• $179,500—232 Route 103, Warner NH

No Sales in April for the following towns

• Andover, Croydon, Goshen, Sunapee, Washington, Wilmot

Source:
http://sunapeeregionblog.com/2008/05/01/april-2008-sales/

Should I Buy or Should I Wait?

Market Thoughts & Quotes

I just came across an excellent article on the housing market which was posted in the Boston Globe titled "Is it the right time to buy, or will prices go lower?" By Kate M. Jackson Globe Correspondent / April 13, 2008

Here are a couple great quotes from the article:

"Whatever side you're on, the key is to know whether or not you're the 'right' buyer for this particular market," said Greg McBride, a senior financial analyst for Bankrate. "I liken buying a home today to getting married: you really have to be in it for the long haul and ready for the commitment. If you're planning on buying right now, you should also be planning on staying awhile."

"I'm not a prophet, I'm a realtor," he said. "I tell them it really depends on why they're looking to buy a house in the first place. Some people have to move right now. Others don't. While I anticipate prices will come down a bit more, I tell my clients if they see the right place right now, and have the down payment, buy it. It's not going to change your mortgage payment all that much in the long term. And if you're planning on staying there more than five years, you're probably not going to lose money."

I think this article is dead on in regards to making decisions in this marketplace. If you do find a property that you feel is the one and you can see yourself there for the long term (5+years) make an offer! For one, the sellers are more understanding that people are going to throw out "low ball offers" and are not as likely to be offended as they have been in the past. Now they are much more likely to counter offer and realistically get the deal done.

In recent months I have experienced this first hand. I had a client throw a low number out to a seller who was "unmotivated and ready to stick it out" and that seller countered much lower than we ever thought they would!

Bottom line, you never know unless you try. Worst case they say no and you move on to the next property.

Here's my disclaimer:
Not all properties are unrealistically priced and everyones situation is different. Some properties you may be able to purchase and list price to sale price might be very close, this is not a bad thing at all. It is also why we have appraisals on properties to help ensure appropriate value.



Source:
http://sunapeeregionblog.com/2008/04/28/should-i-buy-or-should-i-wait/

March 2008 Sales

Our area had a large drop in sales this past month compared to prior years….but we have also had record amounts of snow and gas prices have rocketed back up. From a tourism stand point it has been an awesome year up here because of all the snow. The problem is that it is quite hard to show land with 3 feet of snow on it or for that matter get a good look around a house that is “nicely landscaped”. I've had clients from last summer contacting me lately getting ramped up to start looking now that spring is upon us. I’m confident this slump in sales for March will be more than made up over the summer.

Historical Sales For Our 16 Local Towns
January 2006—23 Sales
January 2007—29 Sales
January 2008—27 Sales
February 2006—26 Sales
February 2007—30 Sales
February 2008—25 Sales
March 2006—35 Sales
March 2007—38 Sales
March 2008—17 Sales


Andover NH

• $167,000—5 Cilleyville Rd, Andover NH

Grantham NH

• $200,000—39 Longwood Drive, Grantham NH
• $287,000—5 Fairway Drive, Grantham NH
• $416,000—5 Par Brae, Grantham NH
• $420,000—59 Greensward Drive, Grantham NH

Lempster NH

• $139,900—513 Dodge Hollow, Lempster NH
• $203,500—10 Deerhill Lane, Lempster NH

Newbury NH

• $270,000—80 Emily Lane, Newbury NH

Newport NH

• $144,000—18 Knoll, Newport NH

Sunapee NH

• $432,500—57 Oak Ridge Rd, Sunapee NH

Sutton NH

• $431,500—72 Keyser Street, Sutton NH
• $300,000—382 Kearsarge Valley Rd, Sutton NH

Warner NH

• $280,000—224 Newmarket Rd, Warner NH
• $298,000—23 Highlawn Drive, Warner NH
• $305,000—112 Rte 103 East, Warner NH

Washington NH

• $128,000—494 Valley Rd, Washington NH

Wilmot NH

• $101,100—249 Route 4A, Wilmot NH
• $245,000—118 Jewell Rd, Wilmot NH

No sales in March for the following towns:

• Bradford, Croydon, Goshen, Lempster, New London, Springfield, Unity

Source:
http://sunapeeregionblog.com/2008/04/01/march-2008-sales/

February 2008 Sales

Sales are only slightly behind what they were in 2007 during January and February, but are consistent with and a bit higher than sales in this period during 2006.

Historical Sales
January 2006—23 Sales
January 2007—29 Sales
January 2008—27 Sales
February 2006—26 Sales
February 2007—30 Sales
February 2008—25 Sales


Andover NH

• $182,500—21 Pleasant Lane, Andover NH
• $221,700—12 Shirley Road, Andover NH

Grantham NH

• $231,900—9 Bonnie Brae, Grantham NH
• $269,500—57 Whitetail Ridge, Grantham NH
• $315,000—16 Longwood Drive, Grantham NH
• $360,000—58 Top O World, Grantham NH
• $360,500—6 Nightingale Lane, Grantham NH
• $475,000—11 Winter Hill, Grantham NH

Newbury NH

• $1,803,300—9 Lakewood Manor Place, Newbury NH

New London NH

• $455,000—53 Spruce Lane, New London NH
• $1,860,000—986 Lakeshore Drive, New London NH

Newport NH

• $116,500—490 Unity Road, Newport NH

Springfield NH

• $143,000—551 Four Corners Road, Springfield NH
• $180,000—188 Philbrick Hill Rd, Springfield NH

Sunapee NH

• $279,200—46 Hill Top Drive, Sunapee NH

Sutton NH

• $219,500—1236 North Rd, Sutton NH

Warner NH

• $199,500—30 School Street, Warner NH
• $209,000—95 Bible Hill Rd, Warner NH
• $305,000—112 Rte 103 East, Warner NH

Washington NH

• $138,000—577 Bailey Road, Washington NH
• $317,000—785 Ashuelot Drive, Washington NH

Wilmot NH

• $310,000—41 Bank Road, Wilmot NH

Unity NH

• $135,700—309 Quaker City Road, Unity NH
• $175,000—884 Hurd Pond Rd, Unity NH
• $200,000—30 Egan Road, Unity NH

No Sales in February for the following towns

• Bradford, Croydon, Goshen, Lempster
  

Source:
http://sunapeeregionblog.com/2008/03/03/february-2008-sales/

January 2008 Sales

Regardless of your situation, Buying, Selling, or just watching the market, people seem to crave information on what's happening in the real estate market. My goal with this blog is to share Residential sales information in the Lake Sunapee Region each month. If you would like more information on anything or something different don't hesitate to ask!

Sunapee NH

• $153,500—1005 Lake Avenue, Sunapee NH
• $316,500—20 Harding Hill Road, Sunapee NH
• $925,000—776 Jobs Creek Road, Sunapee NH

Newbury NH

• $185,000—725 Route 103, Newbury NH
• $195,487—44 Hilltop Drive, Newbury NH
• $1,400,000—40 Echo Cove Road, Newbury NH
• $1,890,600—294 Bowles Road, Newbury NH

New London NH

• $528,500—124 Spruce Lane, New London NH

Sutton NH

• $290,000—27 Bailey Road, Sutton NH
• $295,000—180 Corporation Hill, Sutton NH

Bradford NH

• $155,500—14 Pleasant Valley Road, Bradford NH

Wilmot NH

• $60,000—103 Quaker Path, Wilmot NH
• $235,000—18a Jonathan Hill Road, Wilmot NH
• $312,000—14 Laurel Lane, Wilmot NH

Andover NH

• $55,000—127 Flaghole Road, Andover NH
• $240,000—474 Main Street, Andover NH

Grantham NH

• $160,000—16 Whitetail Ridge, Grantham NH
• $263,500—2 Barn Owl Overlook, Grantham NH
• $318,000—21 Robin Lane, Grantham NH
• $340,000—418 Road Round The Lake, Grantham NH

Unity NH

• $55,000—0 Chandlers Mills Road, Unity NH
• $93,000—172 Old Chandlers Mill Rd, Unity NH
• $121,500—211 Center Road, Unity NH

Goshen NH

• $65,900—925 Center Road, Goshen NH

Newport NH

• $90,000—3 Paradis Road, Newport NH

Lempster NH

• $185,000—100 Sand Pond Rd, Lempster NH

Washington NH

• $251,000—96 Karen Lane, Washington NH

No Sales in January for the following towns

• Springfield, Croydon, Warner NH

Source:
http://sunapeeregionblog.com/2008/02/29/january-2008-sales/