As we enter the home stretch on the road towards closing, I look back and see how easy it is to make mistakes in the process. Our major mistake in purchasing the condo is going with a lender that had never loaned on a condo in the association prior to our purchase. The result was the underwriters had to approve the condo association in its entirety prior to our purchase. The problem was not the lender, we went with a reputable lender and had a great mortgage officer; it was just their first time with this particular association. So…we have had to jump through a couple unnecessary hoops because I did not take my own advice. When you are purchasing a property, always go with lenders and insurance providers who know the area.  These professionals have dealt with obstacles common with the territory, i.e., private roads, island properties, associations, resort atmosphere, etc. Our closing has been held up for a week and a half, and we had to switch programs because the underwriter did not understand the condo development in which we are buying. It was a frustration that could have been avoided, if we had only listened to our realtor…oh wait, that’s me.

One side note: We have been working with Terry Penner at Peabody and Smith Realtors, who is representing the sellers. Terry has been wonderful through the transaction, if you need an agent up there, look no further.

View of the Wolfeboro Corinthian Yacht Club

The Wolfeboro Corinthian Yacht Club is now offering several moorings in their deep water mooring field for rent during the 2012 season. These moorings were previously unavailable and are located in their prime location in Wolfeboro harbor within walking distance to town. They rent for $1,800 and include launch shuttle service to/from the mooring field; Restroom facilities; a newly renovated dock, a dumpster for trash and parking for one vehicle.

This is a great way to enjoy Lake Winnipesaukee and have a nice off the water home in Wolfeboro. Why wouldn’t you live in a vacation town?

He has been the creator of the Boat Show Poster for years and has captured many beautiful scenes on Lake Winnipesaukee and of the lakes region with his brush. They make great closing gifts. For example, I would give the Wentworth Poster above to a client who purchases on Lake Wentworth. I can usually find a Ferber Print matching where the waterfront clients have purchased.

This Saturday, The Art Place is hosting a Peter Ferber event, not to be missed. Click here for the press release on Fosters.com or click here for information about The Art Place in Wolfeboro, NH.

Winnipesaukee Homes Sold 2003-2011

•     Total Number of Homes Sold
•     Median Price
•     Highest Price
•     Days on Market (DOM)

Wolfeboro Homes Sold 2000-2011

• Total Number of Homes Sold
• Median Price
• Highest Price
• Days on Market (DOM)

Winnipesaukee Condos Sold 2000-2011

• Total Number of Condos Sold
• Median Price
• Highest Price
• Days on Market (DOM)

 Here is a link the summary report:

2011 Report – Click Here

Establishing if something is “Grandfathered” on the water.

Grandfathered assets on Lake Winnipesaukee

Since this comes up a lot in waterfront purchases, let’s use a real world example. Boathouses are the crown jewel up here in the lakes region. (Here are some Boathouses on Lake Winnipesaukee!) If you are purchasing a property with a boathouse, you must be satisfied about one of two criteria.

First, if the structure can be proven to exist without alteration, prior to July 2, 1969, then it is most likely “grandfathered”**. Second, if the construction happened after July 2, 1969 and permits can be produced to show the structure in its current location, size and configuration, then it’s also most likely “grandfathered”.**

Grandfathered structures can be maintained, but in most cases have to be kept in the same place without altering the structure’s size or configuration**.  Be careful of boathouses that may have grown over time or suddenly have finished space that was not permitted.

Read the whole article here.