Strafford, NH

April 2009 Real Estate Market Report For Strafford, New Hampshire

by Lisa Lentz on May 6, 2009

The Town of Strafford, New Hampshire saw a slight decline in sold homes for April of 2009 a compared to April of 2008. The town of Strafford had only 1 sale in April 2009 with a sale price of $199,900 and days on the market of 134 days compared to 3 sales in April of 2008 with an average selling price of $216,966 and only 106 days on the market. In April of 2008 there were only 3 homes that had gone on the market whereas in April of 2009 we saw 11 homes listed for sale.

Strafford also saw a fairly dramatic reduction in prices for April of 2009 as compared to April of 2008. For the number of residential homes in Strafford that reduced their prices during the month of April of 2009 we saw 5 homes reduce their prices during the course of the month by an average of 8.2% or ($30,160) and 10.6% or ($40,180) overall from their original list price when they first went on the market. In April of 2008 we had 6 homes reduce their prices during the course of that month by an average of 2.9% or ($9,483) reduction and 3.1% or ($10,166) reduction from their original list price when they were first listed for sale.

There are currently 30 homes for sale in Strafford, NH.

Key definition: Days on Market means the total number of days a property was on the market with the last agency it was listed with. It’s important to note that total days on market does not capture the total days that a single property may have been listed if it was listed with multiple agencies during the course of its sale history. So for example, if a home was listed for 180 days with Agency X and not sold and then re-listed with Agency Y and it sold in 92 days, the total days on market will be reported as 92 days and not 180+92 or 272 days. Statistic show that many homes are listed with 3 different agencies before it sells so days on market can be understated.

Based on information from the Northern New England Real Estate Network, Inc. for the period April 1, 2009 to April 30, 2009.

Contributed by Lisa Lentz, Associate Broker, Bean Group

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Real Estate Market Update For Waterfront Homes And Cottages For Sale On Northwood Lake, Pleasant Lake And Bow Lake

by Lisa Lentz on April 24, 2009

northwood-lake There are currently 9 properties for sale on Northwood Lake which spans between Deerfield, Northwood and Epsom that offer direct waterfront.  There are a fair range of prices for all buyers with a property starting as low as $178,900 up to $750,000.  If shared access or ROW is what you are looking for there are 2 properties that offer access to a shared private beach.  They are priced between $89,900 (bank owned) and $320,000 (with a water view).

Pleasant Lake, which is also located in the towns of Deerfield and Northwood, has 4 properties for sale with direct waterfront that are priced between $359,900 up to $1,190,000.  For shared access or a right of way to Pleasant Lake there are 2 properties that are near the town public boat launch.  These are priced between 389,900 and $539,000.

Bow Lake, located in the towns of Strafford and Northwood, has 6 properties for sale and one currently under agreement.  The price spread for Bow is currently $375,000 to $799,900. If shared access or a right of way fits your requirements there are 13 properties for sale ranging from $126,900 to $454,900 with one under agreement.

One might ask why such a big difference in price depending on the lake?  Things to consider are:

1. Is the property year round or seasonal?  Seasonal can mean it does not have the property heating or insulation, water would freeze in cold temperatures, camp may draw water from the lake vs a well.
2. What type of access is there to the water?  Sometimes you will see waterfront of 10 or 15 feet… That typically means you have a deeded dock vs your very own private beach.  The property could be located across the street for instance but it has direct waterfront via the dock.
3. Which lake is the property located on? Some lakes command a higher price due to size, depth and water quality.  Pleasant Lake for instance is around 495 acres but its water quality is one of the best in the state of NH.  Bow Lake is around 1,160 acres.  Northwood Lake is about 650 acres but its maximum depth is only about 20 ft.

If you are considering buying waterfront when searching property it’s important to watch for the total number of waterfront frontage in feet.  If there are not feet listed the property may have shared access to a private/association beach or a ROW to the water.  The only way to know for certain is to review the deed for the property.  Another important factor to consider is the septic and well.  Some of the older cottages may have holding tanks and ensuring that a replacement septic system could be installed, especially if the size of the lot is nonconforming is important to ensure you protect your investment.  Also take a look to see if the property is drawing water from the well.  That would mean you would need to bring in your drinking water.  Finally, it’s always important to see if the seller has a permit or submitted the “Seasonal Dock Notification” form for the dock.  Some could be grandfathered but depending on how extensive the dock is and how many feet the seller owns typically will limit length of the dock a property can have.

If you are considering selling waterfront property, it’s important to be aware of the shore land rules and what is required of you when selling.

Of course the value of any waterfront property is the waterfront.  Preserving that waterfront will help protect that investment.  The State of NH has taken considerable care to ensure that we protect our beautiful lakes, rivers or tidal waters with the Shoreland Protection Program.

In the end, owning waterfront can be one of the best investments you make.  It’s a limited resource and there is nothing like coming home on a Friday night to the call of a loon and some wine on the deck.

Based on information from the Northern New England Real Estate Network, Inc as of April 23, 2009.

Contributed by Lisa Lentz, Associate Broker, Bean Group

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