I had a good friend who always seemed to be misplacing things. Out of habit I always replied that as space is truly finite it follows that chances for recovery of the item then must be infinite, always a optimistic view. A handy solipsism perhaps but not at all applicable to waterfront properties here in the Lakes Region of New Hampshire. Why, because of an almost infinite demand for this particular finite resource.

The Lakes Region is a finite resource...

Last week, 4/12/10 through 4/18/10, our chief search engine, Google, reported that our website received 2,301 visits from 22 separate countries. This total is also broken down by new visitors, 47.85% and the average of 4 minutes 6 seconds per visit. Impressive to be sure and that reflects the broad international interest in what the Lakes Region of New Hampshire has to offer as a second-home haven. Though I have to suspect the sole visit from Fiji was likely a local on vacation and who was checking out the live web cam video of Wolfeboro or Alton Bay.

The above figures do serve to underline the strong market interest in Lakes Region properties as well as the accessibility of complete and timely information available to browsers, investors and homesick expatriates on the PSH site. But a leading website is more than just the result of a large amount of invested capital and skillful design. Anyone with the means and commitment can achieve a semblance of success and turn out an attractive product. We strive to surpass this worthy goal by additionally pledging our negotiation skills, time saver methods and efficiency expertise to our clientele. Our teamwork is unmatched.

So, where are we? The knowledge and ability to account for that large “Invisible Hand” of Adam Smith, Milton Friedman and Friedrich Hayek and connecting with it in a way helpful to both the seller and buyer is what we offer at Prudential Spencer Hughes. No more, no less, only better than anyone else.

Jim Ferriman
603-267-9866

Lakes Region Docks MLS# 2778813

As a metaphor it might be a stretch but in actuality this is where the lake experience begins, at the dock. Think of them a transition points, allowing for a natural and gradual introduction from a static familiarity to an ever changing medium.

We, at Spencer Hughes, are much attuned to dock pricing on the Big Lake. Because of state legislation the value of lake side properties are greatly affected by any existing, “grandfathered” dock.

Crib docks, boat houses, breakwaters, permanent docks, floating docks and seasonal docks all have a very strong influence on the appraised and assessed value of waterfront properties. A focal point of waterfront property, this is where we all gravitate eventually, for entertainment, curiosity or simply to maintain contact with the lake.

Waterfront homes with docks in need of attention have, at times, a worth exceeding their appraised value, though a question can arise of at what point do repairs become new construction and perhaps prohibited. Regardless, any repair, alteration, or new construction concerning a dock may require both local and state and permits.

Jim Ferriman
603-267-9866

I reviewed a new study of 90 global equity investors last week. The report by Prequin, a London group, indicates that institutional investors intend to commit more capital to private equity funds in 2010 than they did in 2009. The long term view is predominantly bullish and rather than chase emerging property markets in Asia and India they are likely to shift their interest to debt-burdened and distressed property.

Foreign investors, 51% of respondents, view the U.S. market as the best opportunity for real estate appreciation, according to the Association of Foreign Investors (AFIRE) in a report released January 18, 2010. One of the significant portions of the survey detailed that of the top 5 U.S. cities reflecting the best investment opportunities 3 are on the East coast; Washington D.C., New York, and Boston. Multi-family properties led as the preferred investment type followed by office, industrial, retail and hotel properties. read more »

Lake Winnipesaukee in Winter (photo courtesy of The Lake Winnipesaukee Watershed Association)

The very names are beguiling, intriguing, beckoning – Bearcamp, Shellcamp, Mirror, Crescent, Crystal, Great East, Dan Hole, Halfmoon, Hermit, Huntress, Lily, Locke, Merrymeeting, Sunrise, Suncook, Sunset, Loon, Province, Silver, Horn, Rust, Wentworth, Pine River, Saltmarsh.

The Indian names – Chocura, Wicwas, Pemigewasset, Winnisquam, Paugus, Winnipesaukee, Waukewan, Winona, Ossipee, Squam, Kanaska, Opechee.

They all can be found in this area. By this area I mean the Lakes Region of New Hampshire. Glacier gouged, spring fed, interconnected by subterranean rivers each lake carries a history and fondness in the heart for those that have spent time on their waters, be it a vacation or a lifetime. Second home buyers immediately feel they somehow belong here, have always belonged here. The capacity for the homing sentiment is not something to be denied.

I have no complete information but the newspaper at times makes reference to various famous residents of the Lakes Region, usually in the obituaries. People who have, or had, the wherewithal to live anywhere yet chose New Hampshire. Not surprising to me, after all I did. Our Spencer Hughes website, recently remodeled, is a very good place to start a search for your ideal Lakes Region home or property. I look forward to assisting you in your discovery of what some believe to be the most beautiful place on earth. Check the comments section to register your opinion.

Jim Ferriman
(603) 267-9866

On the Waterfront - here in the Lakes Region it is often about loyalty, too.

Lakes Region statistics for 2009 are coming in with gains in virtually all the categories of real estate measurement from the previous year.

The jump in sales volume was welcomed by Lakes Region realty firms and began in earnest the second half of 2009. The continued low interest rates throughout the year were a chief factor in motivating buyers, both local and out of state. That along with a price reduction in across the board of listings and a pent up level of buying interest fueled the market.

Wary as I am of predicting the future, I’d rather consult history than a crystal ball, I do feel comfortable making the following assumptions for 2010 based upon current market conditions which will support and grow the local market.

- The continued attraction to high end properties by well qualified buyers.

- Strong interest in the Lakes Region even if the recession continues.

- An expansion of home buyer tax credits.

- The stability of real estate investments compared to the stock market.

- The population shift from states with punitive tax structures.

Lastly, the thought occurs to me that when we are able to look back on 2010, some investors, buyers and those presently unfamiliar with the Lakes Region will be left only with the remorse of “what if” and “if only” and “I could’ve been an owner”.

Jim Ferriman
jferriman@spencerhughes.com
603-267-9866

Learn more about this Lakes Region Waterfront home on Ossipee Lake - before it's listed

Take this opportunity to own Lakes Region waterfront for $420,000. This spectacular home on Ossipee Lake was owned by a family member of one of our New Hampshire Realtors. Learn more about it before it’s listed in the MLS:

Located on the main lake in the desirable community of Mountview in Freedom, this four-bedroom home is on .32 acres and has 75 ft. of waterfront on Ossipee Lake. For you’ll own Lakes Region waterfront.

And as a member of Mountview you’ll  enjoy the community beach, tennis courts, and playground and have the opportunity to participate in the lottery for moorings.

Take delight in beautiful sunsets from your deck and gorgeous views across the lake. Contact Nicole Shamlian for more information about this waterfront home before it’s listed in the NH MLS.

According to a National Association of Realtors (NAR) statistic the combined total of second home sales in 2005 accounted for 4 out of every 10 real estate transactions. The NAR determined that these second home buyers bought 41% of the time for vacation purposes, 31% for use as a family retreat and 28% to diversify their investments.

Now, why would anyone at the end of 2009 care about statistical data from 2005? We can assert that the underlying motivations for the buyers haven’t changed. Mortgage interest rates remain attractive, the stock market is still uncertain, the geo-political scene is roughly the same and congress is no more or less united on any clear objective.

From a realtor’s standpoint home values appeared to have reached a short term peak during the summer of 2006 and since then the difference between the listing and closing price of the average residence has widened, in short the market has shifted to the buyer’s advantage.

The basic axiom of real estate is and has always been that of location. This certainly holds firmly for the second home buyer. The appeal of the area, the activity options available, the quality of life, the distance from the primary residence, the services present and the general interest in the area are key to the second home buyer.

What does the Lakes Region offer in amenities to the second home buyer? The local chamber of commerce of Wolfeboro, Meredith, Gilford, Tuftonboro, Alton and Moultonborough would be happy to recount the outstanding features of the Lake Winnipesaukee area for you and I suggest that you take the time to review all the information available. The key to a happy and successful second home investment is the research effort and continued discussion involving the whole family.

What brought me to the area was water. The Western part of the country is drying up at the same time it is filling up. Water experts have for a number of years warned that the net result for the inevitable water restrictions on land west of the 100th meridian line may well be calamitous for the large population centers. I believe them. And as someone once said, “good waterfront acreage is becoming scarcer and scarcer”.

Well, deer season starts in a week. Most of the Lakes Region fall into the J1 and J2 hunting sections, among the most productive in the state. Time to put away the golf clubs, stow the boat and clean the rifle. Another compelling reason for the New Hampshire second home buyer to consider property in the Lakes Region.

Regards,

Jim Ferriman      Jferriman@spencerhughes.com     603-520-5385

One of the things I do for myself is to enjoy a fire at my outdoor hearth. I built, and rebuilt, my fireplace near the shoreline at Loon Pond in Gilmanton, New Hampshire where I live. Decorated with what are my versions of ancient pictographs and embellished with fossils and arrowheads set into the concrete I encourage a spark set in birch bark until it blossoms into fire. After that I have the star show, on a clear night, the sounds of the pond and woods as darkness settles and the occasional seemingly pure level of clarity of thought that makes everything fall into harmony with the world. What more can a person, of admittedly modest wants and desires than to be allowed to experience these overlooked discoveries.

What can say about Gilmanton, www.Gilmantonnh.org? A place with its own unique history and continued human interactions reaching back into pre-Abenaki cultures. Its most famous resident of recent times, Grace Metalious of “Peyton Place” fame, wrote her way into the modern lexicon. The Province Road following the ancient Indian Trail leads from the coast and Portsmouth into the Connecticut River Valley and Canada. The 1793 historic B&B Temperance Tavern, a favorite on Halloween, its reputedly haunted and the town offices lie at the center of what once had been the most populous town in the Lakes Region of New Hampshire.

I’ve written before at some length regarding the friendly business climate New Hampshire extends to out of state businesses and organizations considering relocation. The salubrious natural environment of the Lakes Region and its changing seasons. The strategic geographical location of the state at the northern tip of the population colossus of the Eastern Seaboard. And, of course, the multi-faceted natural recreation and sports environment. The focal point of which is of one of the crown jewels of New England, Lake Winnipesaukee.

The great fair of the North Country, the Fryeburg Fair www.Fryeburgfair.com in nearby Fryeburg Maine begins this weekend. By the time it is over a million people from around the country will have visited it. Another of my fellow realtors and associate, Sandi Patterson, takes the week to volunteer and drive a team of draft horses in the pulls. Time well spent I’d say. Most New Hampshire communities have the annual fairs and “old home day” celebrations, which are looked forward to by all. I think it is greater physical separation between neighbors here, more so than so the wide-open spaces of the west, that allows us all to look forward to the big rendezvous. The natural society of friendship trumps the regimented society of the mega urban environments. Always will. One listing on Loon Pond that is well worth your review, MLS#2748202, especially at this time of year, the photos will show you why.

Jim Ferriman Jferriman@spencerhughes.com 603-520-5385

The Autumnal Equinox like the Spring Equinox occurs when the earth’s axis is inclined neither towards the sun nor away from it, the sun being vertical above a point on the equator. So says Webster’s. 

I say as we approach this semi-annual event that there is stillness and heaviness in the air, a somnolence, and a hesitation as the Lakes Region moves to the annual effusion of color that engulfs New Hampshire. I can’t imagine living in a place without seasons, a dreary sameness covering the land, not so here. Everyone senses the approaching explosion of color soon to erupt covering over familiar hillsides and woods. FALL, the absolute best time of the year. 

The local paper reports that the unusual amount of rain of the early summer months will result in a rare vibrancy and sharpness to the pigmentation of the leaves. This is the time for the hardwoods to come forth, the Ash, Beech, Birch, Maple, Oak and a cruise on the lake aboard the Mount Washington is a great way to experience a New Hampshire autumn. Each island seems to compete with its neighbor as a Currier and Ives poster edition. 

What else is on the agenda? How about the Sandwich Fair in a few weeks time. I have a favorite book on early New Hampshire titled “The Road through Sandwich Notch” by Elizabeth Yates, which makes the 200 plus year history come alive in this magnificent portion of New Hampshire. Also its time to split and store this season’s firewood. Firewood, warms you as you cut it, transport it, stack it and finally burn it, what a bargain.

From a realtor’s standpoint this is the time of the year when the serious buyers come forth. Those who have done their homework over the spring and summer and have a clear idea of what they want if not where to find it.

My own log shows a sharp spike in island property inquiries, more so than in previous years. So many who are approaching retirement have fond memories of their youth spent at one of the summer island camps on Lake Winnipesaukee. The urge to re-capture those feelings becomes nearly irresistible to them. My good friend and Spencer Hughes associate, Island Bob Parmenter, has gone so far as to live year round on Cow Island in his fantastic Adirondack home. Adventurous, of course, but his rewards are nearly immeasurable.

Our new and expanded web site is nearing completion. Adam Dow has been directing the effort through our web designers. Once on line our objective is to provide the most thorough, complete and user friendly service to our clients and customers here and around the world. Please make use of it as a way to stay current with the changing local real estate market.

Jim Ferriman             Jferriman@spencerhughes.com                        603-520-

Of course you would! In late September it’s hard to resist the influence of these mysterious chemicals. But they’re not in the drinking water; they’re in the leaves. And the Lakes Region is alive with color this fall foliage season.

Depending on its biochemical makeup, each tree presents a unique hue. Anthocyanins produce blue, red, and violet colors. Tannins produce brown colors, like those in tea and in the mighty oak leaf. Flavones are the yellow found in sumac, horse chestnut, tea and onions.

Like many in the Lakes Region, I prefer maple leaves, but the tenacity of the oak leaf cannot be denied. No matter which autumn color tickles your fancy, you’ll find it here in New Hampshire. Here are some current Lakes Region listings featuring maples, wooded landscapes, or mature trees.

4 Summer Street Milton, NH - MLS No. 2789435 As you can see, this Milton, New Hampshire home is surrounded by deciduous trees. Note the Oak in the foreground; the leaves on this tree won’t turn for another month.

6 Oak Street Wolfeboro, NH - MLS No. 2768147 Another Lakes Region home surrounded by deciduous trees, this historic Wolfeboro home features mature perennial gardens!

176 Ledge Hill Road Tuftonboro, NH – MLS No. 2755352 This antique cape in Tuftonboro, New Hampshire features an open floor plan, exposed original post-and-beam, and 33 wooded acres of autumnal bliss.

Ah, Fall in the New Hampshire Lakes Region!