Marilyn Kidder-Lake Sunapee Area of NH

How lucky we are!

The Dartmouth-Lake Sunapee area of New Hampshire truly benefits from some of the most wonderful and beautiful natural advantages and scenic bounty. Several large crystal clear lakes along with many smaller lakes and ponds entice swimmers, boaters, skaters and ice fishermen. The surrounding and protecting, forested mountains welcome skiers, hikers, birders, and explorers. But there is much more to draw the visitor and hold his interest. Summer theaters offer a wide variety of favorites. Local, and even famous, music groups offer concerts on the greens, in cozy local breweries, and on stage. Outdoor antique shows and flea markets tempt the collectors. Self-guided walks on the Sunapee-Ragged-Kearsarge Greenway trails offer peace and quiet and private glimpses into the every-day lives of our native plants, birds and animals. Experts at the Hay Estate offer a wide variety of programs about the land, forests, flowering gardens, and native animals. Duffers and experts alike can chose from a wide variety of golf courses (even mini-golf!)

In the crisp, white winter, there are well-groomed cross-country ski areas, snowshoe trails off the beaten track, and challenging mountains, like Mt. Sunapee Resort and Ragged Mountain, for downhill or snowboarding. There are art shows at the Dartmouth Hop, Elderhostels, Adventures in Learning (at Colby-Sawyer College), quaking bogs, State Parks on lakes and mountains, 100 year-old+ summer resorts (Twin Lake Villa), college football games in the frosty fall, pick your own blueberries, apple orchards, bounteous vegetable stands, local parades and carnivals, strawberry shortcake socials, demonstrations at the Historical Society, well-stocked libraries, guided boat tours on Lake Sunapee, Enfield's Shaker Village, and an untold number of shopping temptations of all kinds. And this list barely scratches the surface! No wonder more and more visitors visit the area and many chose to stay!

Beyond the recreational attractions and the natural beauty of the area, there is a sense of caring community and small town bonhomie not found at every highway exit. This special character strengthens the appeal, the tug to leave the bustling cities behind and settle into the comforting patterns of a quieter and embracing life-style, even if it can only be for part of the year.

The Dartmouth-Lake Sunapee area's two community centers have combined beautifully to compliment each other. The towns of the Upper Valley, clustered around the more developed Hanover and Lebanon, have been greatly influenced by the location of Dartmouth College at the center of Hanover and the Dartmouth Hitchcock Medical Center in Lebanon. Museums, theaters, an excellent school system, a teaching hospital of great renown, the Dartmouth Coop, the Green, the Hanover Inn, eclectic and necessary shopping of great variety, a wide diversity of super eateries, college sporting events.... The Upper Valley attracts returning alums, enterprising entrepreneurs, young families, professors, doctors, nurses, support staff of all kinds, retirees...all find the energy combined with the sense of tradition and permanence attractive. While the communities of Hanover-Lebanon haven't traditionally been a draw for seasonal home buyers, nearby Quechee and the community of Eastman have provided many of the features sought by vacationers looking to invest locally.

The Lake Sunapee area tends to center around New London and Lake Sunapee itself. New London, although considerably smaller than Hanover or Lebanon, also has the ambiance of a college town. The graceful, arching driveway of Colby-Sawyer College and its stalwart brick architecture contribute much of the character to the center of town. Main Street is lined with many 19^th century buildings that now are home to retail and professional endeavors of a broad variety. The Town Green hosts a beautiful bandstand and is often the site of summer concerts and fairs (or giant snowmen in winter!) New London's Town Hall was itself the original home of Colby Academy and, as the seat of town government, now projects an aura of tradition and permanence.

In the sunny summertime, Sunapee Harbor is a bustling center of activity. There are restaurants, small, intriguing specialty shops, the local Historical Society, art exhibits, live music, a bandstand, and frequently departing boats for dinner or local history cruises of the Lake---all within walking distance of each other. At the other end of the Lake, Newbury Harbor also draws people by its restaurant, convenience store, a bank and post office, band stand and a caboose from one of the original trains that brought summer visitors to the Lake.

The New London/Lake Sunapee area has historically been a destination for vacationing city dwellers, from the time when the trains arrived at Newbury Harbor and the steamboats delivered families to various landings around the Lake. Many of the descendants of these original families still come to the area today. Now Route 89 makes it easy to get to the Upper Valley and Lake Sunapee area, particularly from Boston and the surrounding communities. But the "Big" Lake, so-called by the locals, isn't the only recreational attraction. There are many smaller lakes within the Sunapee area (Pleasant Lake and Little Lake Sunapee being two of the more well-known) and two ski areas within a half an hour of most of the towns. Year-round recreational opportunities aren't the only area drawing cards. There are excellent libraries, schools, a private school (Proctor Academy), a wonderful, newly enlarged and enhanced, community hospital, lectures, concerts, plays, reading discussion groups, a very active Council on Aging, a well-respected Visiting Nurse Association, several banks, a local brewery, enticing restaurants, a great variety of small intriguing shops (as well the well-supplied basics: grocery, hardware, drug and clothing stores), and volunteer organizations to appeal to every interest.

As time has passed and more and more development has occurred in the southern part of the state and much of the rest of New England, New York, and New Jersey, summer and winter vacationers are not the only ones considering making the Dartmouth-Lake Sunapee area home. Retirees find the combination of location, medical facilities, natural beauty, convenience, and friendly attitude of the "natives" equally welcoming. Twenty years ago, vacationers and retirees comprised the greatest number of buyers coming into the Sunapee area. However, more and more young professionals and working families, even those whose jobs take them to other larger communities in the state (or north to Hanover/Lebanon) are choosing to live in the area.

Whether newcomers, returning alums, or vacationers settling down chose the Upper Valley or the Lake Sunapee area, there is a wide variety of housing options available in a broad range of prices. There are village historical homes, welcoming neighborhoods of new and established construction, quaint lake front cottages, luxurious golf-course condominiums, striking hillside homes with dramatic views, private community associations with lake access, beautifully preserved antiques on large tracts, convenient condos appealing to retirees or working couples without children, weekend ski chalets, magnificent lakeside estates, private communities with their own golf courses, lakes and ski tows, and cozy, and affordable starter homes. There is truly something for everyone.

The real estate market in the Dartmouth-Lake Sunapee area has remained relatively stable through all kinds of market trends. While there are definitely cycles in real estate as the overall economy ebbs and flows, property values tend to show excellent appreciation, particularly. There is a broad range of opportunity for potential buyers. It has never been easier for the potential buyer to gather information about the area and properties for sale. The statewide, computerized Multiple Listing Service is available on the web (www.nnerealestate.com) and makes it handy for buyers to familiarize themselves with the current market. Most area Realtors have their own web sites, as well. It's a great way to get a start on a search. Of course, nothing can beat the help of a professional who has lived in the area for over 35 years and been in the business for more than 25 of those years. If you're intrigued by our area and would like to get some more information about real estate opportunities here, please get in touch with me.

March, 2009

marilyn@cbmilestone.com

www.cbmilestone.com

The New Hampshire Association of Realtors has just come out with its latest issue of "Real Estate Market Trends" authored by Peter Francese, Demographic Adviser to the NHAR. These monthly emails provide insightful information into the current state of the New Hampshire real estate market.

The first two months of 2009 saw sales volume ($214 million, not including condos) which represents half of what it was in 2006. While this is, obviously, discouraging, we know that New Hampshire is in a lot better shape than many other states. We have the lowest unemployment rate in New England at 5.1%. The Federal Reserve ranks NH's index of economic activity as the 4th highest. While this information is good news, alone, it's not enough to boost consumer confidence.

Francese presents two tables: Table I shows the February non-condo unit sales broken out by county with the per cent change from 2008 to 2009. The average median price statewide was down 20%, with the highest downward trend being in Coos county, at 53%. Francese believes that the median prices were heavily influenced by foreclosures (less than 1% in NH) and short sales. While 1% seems like a small number, in specific counties these sales can represent a larger fraction of all sales and distort the perception of home values. Also represented are the units sold, also down; statewide the number dropped by 14%. Table 1 also shows the income to price ratio, again broken out by county. Historically, this number has been an indicator of home affordability and has usually been at 4.0 or below, and it is at this level that potential home buyers will think that buying a home is within their reach. At a statewide average of 3.8, that is an encouraging number. What is lacking is a level of confidence that better economic times are coming; lenders also need to have that same confidence. According to Francese, when this occurs, and the number of foreclosures declines stabilizing home prices, buyers should feel like they can begin to move more confidently into the market.

March 19, 2009