If you are thinking about purchasing a house on Lake Sunapee, there is some important sales data that you should know about. Check out the ‘percent off list price’ to sales price. Believe it or not, there are some pretty big swings from what the house is listed for, to it’s final sales price. So when you are looking at properties, bear in mind if the price seems high, there is probably a fair amount of negotiating room. Last year, out of 20 home sales on Lake Sunapee, the average ‘percent off list price’ was 17.75%! So far this year the number is at 14.37%, and the current two year average is 16.30%. Please click on the link below for more information, charts, etc.
http://www.sunapeeregionblog.com/2011/09/lake-sunapee-sales-data/
If you would like more information about a property, market information about your town or just want to talk real estate, please don’t hesitate to give me a call or shoot me an email 603-252-6428 dano@colbyinc.com
Recently FEMA updated their flood maps for the Lake Sunapee Region. Unfortunately some of these new maps show properties in flood zones when they really are not in a true flood zone. This is having a major impact on possible real estate sales in our region. Recently I dealt with this on a house that I sold in Sutton NH.
Why is this import? Well if your house is for sale and the buyer is getting financing, the bank is going to require the buyer to get flood insurance. If you have not had an "Elevation Certificate" done that details where your house really is and what the true flood risk is, then the buyers will be charged the maximum amount of flood insurance. This number can be well over $5,000 and is due in full prior to closing! This typically becomes a deal killer for most buyers.
The Solution-
Hire an engineering company to complete a full elevation certificate and LOMA (Letter of Map Amendment). This can cost anywhere from $500 to over $3,000! A reason for the potential high cost is if the engineering company does not have a "benchmark" elevation near your house. Engineering companies do not share "benchmark" elevations with each other so you need to call around.
Please feel free to click over to my site where I have detailed this experience in more detail plus have provided some useful links for determining whether or not you are in a flood zone.
http://www.SunapeeRegionProperty.com/FEMA-Flood-Maps
Best,
Dan
Dan O'Halloran
Colby Real Estate
603-252-6428
www.SunapeeRegionBlog.com
www.SunapeeRegionProperty.com
It’s hard to believe summer is already gone and we are well on our way towards winter! Before the snow flies, makes sure you check out this awesome hike up to Lake Solitude right by Mount Sunapee. Click Here to learn more

The links below will take you to information on sales in the Lake Sunapee Region over the past few months.
If you have any questions about the market data or if you would like to know more about buying or selling real estate in the Lake Sunapee Region, please feel free to call or email me today! 603-252-6428 dano@colbyinc.com
In today's real estate market it is important to understand what happens when your property get listed "live on the web". Where is your home advertised, how does your Realtor promote (sell) your property, do you have a plan?
Find out the answers to these questions and more at my Lake Sunapee Region Real Estate Blog
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