During 2012 the company had gross sales of approximately $80,000,000 involving 305 transaction sides, which represented at that time a 17% increase in unit sales over the previous year. At the current time, the company has almost 60 pending sales ready for closing, which is another great indicator that the year 2013 is off to a very good start.

On the waterfront side, sales activity on Lake Winnipesaukee has been steady, however not exceptional year-to-date. Year-to-date there has been a total of 24 waterfront sales on the “Big Lake,” including all towns, with the highest sales price thus far at $2,350,000. The majority of the sales year-to-date (17 sales) have been selling below the million dollar mark, and it appears we are below our average selling price of last year, so far year-to-date. This is a good sign for buyers—those who have engaged into the marketplace have acquired some very substantial assets at attractive pricing. “With governments throughout the world increasing the money supply, interest rates at record low levels, and a stock market that just broke through 15,000 on the DOW, we are seeing a very strong interest from individuals looking for attractive hard assets that can be levered with low financing costs. The end result of countries printing money generally turns out inflationary, and investments in quality real estate work well during periods of rising inflation.” Roche indicated that Roche Realty Group had the highest number of transaction sides of closed sales on Lake Winnipesaukee year-to-date (10 transaction sides) from 1/1/2013 to 5/6/2013 for all towns on Lake Winnipesaukee. Data was pulled from the Northern New England Real Estate Network MLS system and Roche Realty Group was in the #1 position in unit sales activity for Lake Winnipesaukee properties compared to all state-wide offices. At least we’re at a good start for the first four months of the year and all of us at Roche Realty Group are looking very optimistically for a strong finish as we approach the summer selling season.

Windswept Island – Lake Winnipesaukee, NH

Lake Winnipesaukee… home to over 72 square miles of immense beauty. When you ask most people about their favorite experience on the lake, they usually respond with memories of shimmering red sunsets, evening boat cruises to Meredith, or hot summer days anchored in one of the many protected coves. It is easy to see why it has become such a sought after destination. For me however, the lake has provided something beyond its natural beauty.

Growing up in the lakes region, I had spent most of my summer days playing along the shores of the many surrounding lakes.   Having grown up in the real estate world, I was fortunate enough to visit most every nook and cranny the big lake had to offer.  On one particular sunny day, we decided to spend an afternoon docked at Windswept Island. True to its name and no more than 120 ft across, this island sat looking over the most expansive part of the lake. Even in the heat of the summer, there was a constant cool breeze that lapped the shores of the island.

Over time, this little island became a continued hot spot for our boating destinations. However, it was neither the gorgeous views nor the cool breeze which kept us coming back. It was the feeling of getting away from it all that stuck the most. Even though we were just a few miles from mainland, this little island provided the sense of being on a mini vacation; just far enough away to make even simple obligations fade from the back of your mind.

Naturally, my family decided island living was for us. By the time of my mid-teens, we had purchased a small cabin on Welch Island. Through many years of use, I have come to several conclusions that may help others in deciding whether an island property is right for them.

1. Unlike mainland waterfront, you only get the late spring to fall months of use.
2. Contrary to mainland waterfront which range from $450,000 to several million, island properties are far more affordable, with typically properties ranging between $250,000 to $450,000.
3. Outside of Black Cat Island, Long Island, Oak Island, Governor’s Island, Worcester Island and Christmas Island which are bridged, most island properties require a boat and a mainland boat slip or slip rental at a local marina.
4. Many island properties rely on lake water for showering and cooking, drinking water must be carried by person.
5. There are approximately 270 islands on Lake Winnipesaukee alone, obviously most are not habitable, but they provide a scenic landscape to the lake environment.
6. Most island properties provide ultimate privacy and serenity, compared to mainland living.
7. The water clarity is generally most favorable on the lake.
8.  The wooded landscapes, with large undeveloped centers of the islands provide an ideal environment for hiking and exploring.
9. Many of the larger islands provide under- water electrical and telephone service.
10. Several of the larger islands have common parking/boat launch areas on the mainland.

 Post written by Chris Roche, REALTOR®, GRI, CBR.   Email: croche@rocherealty.com

* Terms and conditions apply. CLICK HERE for more information and a full terms and conditions disclosure. CitizensOffer-exp6-30

Roche indicated the market has been improving each year since 2008 and the numbers are showing some nice increases this year. The Lakes Region is within a 7 hour drive in excess of 50+ million people and the Baby Boom generation is 77 million strong. These demographics will propel us well into the future. Roche Realty Group has experienced a substantial increase in unit sales and sales volume in the year-to-date sales figures for 2013.

Roche Realty Group can be reached at (603) 279-7046 or (603) 528-0088, or through their website at www.rocherealty.com.

By Frank Roche, President, Roche Realty Group, Inc.

 

For dates, times, locations and directions, please visit our open house page, or stop by our Meredith, NH office (97 Daniel Webster Hwy) to pick up a flyer for the event.

We hope to see you there!

On March 21, 2013 PK Zyla, a well-known auctioneer and Realtor®, and Roche Realty Group assisted the Lakes Region Chemistry-Free After-Prom committee in spear heading an auction at John Cook’s Mame’s in Meredith, NH. This important event is to raise money for the after-prom committee to give these young adults a safe place to go after the prom. The auction drew a very spirited crowd of over
75 people and raised over $6,300, far surpassing last year’s figure of $5,300. The auction also achieved an unprecedented 67 overbids which were prompted by the generosity of John Cook, who gave a $10 gift certificate with every overbid. A large number of local restaurant gift certificates were auctioned off, as well as certificates to local salons, fitness centers, area attractions, clothing, jewelry, gift baskets, overnight stays at local inns, and a cornucopia of other assorted merchandise. A good time was had by all and the committee is already working on next year’s fund raiser.

The landmark Christmas Island Resort located on the shores of Lake Winnipesaukee has recently been sold.  John Ganong of Roche Realty Group in Meredith was the listing agent and Joe MacDonald and Steve Welch of Roche Realty Group in Laconia were the selling agents in the transfer of this 45-room motel consisting of several buildings along Weirs Boulevard in Laconia.  The property included approximately 1,000 ft. of shorefront on Paugus Bay of Lake Winnipesaukee with 3.2acres and 16 individual docks along the lake.

This well-known family resort was constructed and owned by Phil Roux in the late 50’s and early 1960’s. The solid brick structures were enhanced with a beautiful level lakeside setting including natural sandy beaches, stonewalls and indoor heated pool. In addition to the docking, the resort included a boat launch, volley ball and shuffleboard courts.  The grounds were beautifully landscaped. The property was connected to scenic “Pixie Island”.

According to John Ganong the listing agent, the seller of the property was Christmas Island Motel Corporation, Thomas Roux President.  “Tom did a great job in operating and maintaining this fine resort for many years”.  Ganong also mentioned that the Christmas Island Steakhouse, which is separate from the transaction, was not included in the sale. The steak house will continue to operate as it has for many years offering outstanding cuisine for everyone.

Joe Macdonald and Steve Welch, the selling agents for Roche Realty Group, indicated that the buyer of the property is Lakehouse at Christmas Island LLC.  Romeo Lacasse along with Robert and Ralph Meisner are the developers and Ben Lacasse will be the project manager. The existing resort will be torn down. A new luxury 18-unit townhouse community will be called Lake House at Christmas Island. All of the townhomes will include top of the line new construction with modern amenities and energy conservation features throughout.  This small community will be clustered along the 1,000 ft. shoreline of Lake Winnipesaukee.  Each of the townhomes will feature panoramic views overlooking Paugus Bay on Winnipesaukee and will be sited along the shoreline with individual deeded boat slip included.

Frank Roche, president of Roche Realty Group said “this is real exciting news for the Lakes Region. Where can you find 18-new luxury townhouses, each with their own deeded boat slips sitting right on the water with 1,000ft of shorefront? New construction activity has been picking up all over the country and the timing of this waterfront community in the Lakes Regions could not be better. This is one of the largest resort sales that have taken place in the recent years here in our area and Roche Realty represented both the seller and buyers in the sale”.

The developers have an outstanding reputation for developing quality, custom-built homes and the buyer reviews have been exceptional. Roche Realty Group is very pleased to be associated with them again.

Pictured Left to Right Joseph Macdonald, Steve Welch and John Ganong of Roche Realty Group, Ben & Romeo Lacasse of Lakehouse at Christmas Island LLC, developers.

The homes included 3-4 bedrooms, 3 baths with a 2-car attached garage. They ranged in size from 1,775-3,400 sq.ft. The prices generally ranged from approx. $325,000-$410,000.  A large number of the homes were purchased as vacation properties and semi-retirement residences.

Frank Roche, President of Roche Realty Group indicated that the developers of Willow Pond are in the final stages of completing another fine community in Laconia called “Nature’s View at Paugus Bay” a 51-lot subdivision off Elm Street in Laconia, overlooking Paugus Bay. Roche Realty Group again, is the exclusive marketing agent for these affordable new homes.  Nature’s View features 3-styles of homes with master bedrooms on the first floor that start at $219,900 and go to $239,900.  Both Welch and MacDonald are the exclusive marketing agents and only have 13 remaining premium lots available.

With all the positive national articles coming out on real estate we see the year 2013 as being a great year for the completion of this fine community.

Pictured above in front of the last house sold at Willow Pond, left to right, Benjamin & Romeo Lacasse, project manager and developer of Willow Pond, Steven Welch and Joe MacDonald of Roche Realty Group, Inc.

           The Northern Pass debate was featured in the just arrived Yankee Magazine and brought me to think that there was some fodder for an article that might take a different look or at least discover another point of view based on a question I deal with all the time- What is land worth? As real estate professionals, one of our principle jobs is to provide pricing guidelines to clients who want to sell or buy properties and land. These guidelines are used to set asking prices and also to suggest offers for buyers. As with any business, the standard currency we use is dollars and cents. But is there another currency that might be placed on land? Another value?

            Northern Pass is a highly charged topic here in New Hampshire, perhaps not so much here in the lakes region/central NH area, but certainly so in the North Country. A lot of those of us fortunate enough to have grown up here remember the lakes region as we now see the North Country-unspoiled and with a natural beauty unmatched anywhere. The growth in the Lakes Region was inevitable and unstoppable. With the opening of interstate 93 in the 60’s, we were only two hours from metropolitan Boston and its wealth and burgeoning population. The incredible natural beauty of our area and its accessibility to an affluent market created an unstoppable demand for vacation and waterfront homes. The undeveloped rural charm didn’t stand a chance against the development demand. We know looking back is futile, and being pragmatists, we welcome our new neighbors and the economic growth and dollars they brought with them.

            To many of us the “North Country” is a euphemism for our past. When we pine for the old days, we can drive “North of the Notch” and still find the feel of the way it used to be. The unspoiled open tracts in our North Country are incredible and those folks who struggle to earn a living there are reminders of times past here- good and bad. The desire to preserve those qualities runs deep. Make no mistake; the North Country is a hard place to make a living. Economic pressures are difficult and I make no judgments as to the decision to sell their land or not.

            My topic here is “What is the value of land?” Growing up here when farms were the norm and most everybody had a cow and a garden, I value open fields and undeveloped woods. Putting a dollar value on developed land is relatively straightforward. But what about the value of not seeing a power line running through and unspoiled wilderness? There is a mechanism that attempts to put dollar values on these called social cost accounting and I’ve studied it over time. This methodology is helpful in establishing values for views (or their loss), trees on boundary lines, and other quantifyable situations, but I feel it misses the point on larger scale concepts. One of the land owners cited in the Yankee article turned down four million dollars for his farm in Stewartstown. Is his farm worth $4,000,000? Obviously it was to Northern Pass, but not to him. A family I know well still farms in the town I grew up in and has constant financial pressure to maintain the operation. I asked them “why don’t you sell some land to ease the burden?” Their response was “then it would be ruined” To them their ties to the land owned by the family for generations was so strong that dollars and cents was not the currency they used in valuing their farm. The land is their legacy.

            So, what’s the point? I would suggest that as you look to buy or sell property, you look at not just the standard transaction. What else is involved? Most property transactions are straightforward affairs and can be evaluated in dollars and cents, but others have an added element. Once a parcel is developed it becomes a commodity. It is then able to be priced and sold on the market like stocks and bonds, corn, and pig bellies. Undeveloped land has the aspect of being whole and unspoiled. Is the whole worth more than the sum of its parts? Many people believe so.

            There are ways to preserve the state of property and still provide a return for it. Look into Conservation Easements; or if you are able, restrict the deed to limit development in the future. If you have the means, buy large undeveloped parcels and preserve them. Towns offer tax relief in the form of current use that can make holding larger parcel more economically feasible.

            What is the value of land? To some it’s so many dollars an acre. To others it is beyond value.

Post By: Kim Cedarstrom Realtor / Consultant Roche Realty Group / Granite State Advisors. Contact Kim at:  kcedarstrom@rocherealty.com

Kim Cedarstrom is a licensed residential/commercial Realtor© and consultant and a principal in the Real Estate consulting firm GraniteState Advisors. After having spent a lifetime founding, operating, and selling businesses in the Lakes Region of New Hampshire, he now offers a lakefront/residential real estate practice as well as commercial property and business sales services. Kim can be reached at kcedarstrom@rocherealty.com or directly at 603-520-6609. Initial client conferences are always free of charge