Page 14 — THE LACONIA DAILY SUN, Saturday, June 2, 2012
Lakes Region Real Estate Market Report / Roy Sanborn
What can I learn on Nantucket?
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You know how the limerick goes. “There once was a man from Nantucket…” Well, despite all the buckets and Pawtuckets involved, he also had a lot of money. He had to have, if he lived on Nantucket. I am down on the island right now trying to find him, take a few days off, and see what the real estate market is like here. I can tell you that the market is doing well on the island of Grey Ladies. It is a little early in the season and the island is not overrun with mainland tourists yet which makes it easy to get around and see things. There are beaches, great scenery, beautiful houses, and lots of shops and good restaurants… It’s always good to take a look and see how the markets are doing in other parts of the country. Nantucket is obviously an affluent vacation and second home area and if things are good here then one would think that a vacation destination and second home market like the Lakes Region would follow suit. According to the man from Nantucket (actually Atlantic East Nantucket Realty), for the first quarter of 2012 residential sales were up 32-percent from last year. Here in the Lakes region we were up 18-percent. The average residential sales price for the first quarter of 2012 was $1.2-million and the median price point was $825,000. Those numbers are down about 3-percent from last year. Our average sales price for the same period was only slightly lower at $272,576. Well, that may be quite a bit lower. Even though we sell some pretty high prices properties on the Winnipesaukee, it is hard to compete with Nantucket. And, maybe we don’t want to. Nantucket has a lot to offer, but the affordability here is, well, practically non-existent. The least expensive properties I found for sale was an inland studio condo unit (that’s one room you know) for $180,000 and it needs some work. I did find a
mid-island four bedroom condo unit for a first time buyer for $399,000. The average price for a vacant piece of land was $634,000. That’s a lot for some sand in the middle of the ocean and I would think might take some of the enjoyment out of it. The most expensive property for sale right now on the island is a 70-acre compound with a “sprawling main residence which embraces the magnificent views” for a mere $59-million. The real estate ads and websites don’t give you a lot of detail on the properties on the island. Nor do they put “for sale” signs out so you know that a property is for sale. It is all rather hush, hush yet in your face at the same time. One article I read on-line at JPFCO Nantucket Real Estate stated that the market is heating up on the island with two recently closed $7-million sales and a couple of more high end homes just going pending. High end sales here are leading the resurgence of the markets just as we are seeing in the Lakes Region. It further stated that “Buyers who can afford high-end properties typically can afford them for a reason — they make smart investments.” I think that applies equally as well to Lakes Region property — even the less expensive property. After all, we have some pretty awesome beaches, spectacular scenery, beautiful homes, and our own great shops and restaurants, too. And, you can’t ski on Nantucket! Now, where is that old man? Log on to my blog at www.lakesregionrealestatenews.com and leave me your thoughts on this report or the real estate market in general. You can also receive these reports by email. Roy Sanborn is a REALTOR® for Roche Realty Group, at 97 Daniel Webster Highway in Meredith and can be reached at 677-8420.
Easier credit, new models keeping US auto sales solid
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DETROIT (AP) — Easier credit, hot new cars and falling gas prices kept Americans buying vehicles at a strong pace in May despite bad economic news. May sales totaled 1.3 million cars and trucks, up 26 percent from the same month a year earlier. It was the best May for the industry since 2008. The good results surprised some analysts, since car sales usually hew closely to the performance of the stock market and to consumer confidence numbers. In May, confidence was wobbly and the stock market had its worst month in two years. “We should have had a disastrous new vehicle sales month, but consumers are still interested in the new products,” said Jesse Toprak, vice president of market intelligence for the car buying site TrueCar.com. “This was an anomaly.” Toprak thinks June sales will stumble as people weigh
troubling headlines, like Friday’s report that U.S. unemployment rose for the first time in 11 months. He expects sales to pick up at the end of the year as the economy improves. But others don’t think the disappointing news will derail the industry’s recovery. “I don’t believe that the employment data in and of itself will have an impact,” said Ken Czubay, Ford’s U.S. sales chief. Czubay said dealer traffic was strong in May, particularly over Memorial Day weekend. Toyota led sales increases with an 87 percent rise from a year earlier, while Honda saw a 48-percent jump. In May 2011, both companies ran short of cars and trucks after the earthquake in Japan crippled their factories. But their showrooms are full again, and they’re rapidly gaining back the market share that they lost to competitors such as Hyundai and GM.
PUBLIC HEARING LACONIA SCHOOL DISTRICT Request for Proposals Physical Therapy Services Laconia School District is accepting proposals for the 2012-2013 school year for the provision of physical therapy services to support approximately 65 students in our schools. Anticipated need for 100 hours per week of therapy services during the school year and 20 per week to support the summer program. Go to http://www2.laconiaschools.org/wp-content/ uploads/2012/05/PT-RFP-May-2012.pdf for more information about this RFP.
ALTON SCHOOL DISTRICT ALTON, NEW HAMPSHIRE
The Alton School Board will hold a Public Hearing Pursuant to 198:20-b Monday, June 11, 2012 6:00 pm Alton Central Music Room To accept and expend unanticipated funds