2011 February | Landvest Blog

Feb

Best Places To Live: The Connecticut River and Walpole, NH
By LandVest

This entry is brought to you by John Hayes, who advises and assists distinctive real estate homeowners and buyers of land, estates and farms in Concord, New Hampshire and surrounding areas.

We are often asked, “What are the really special places where we should look for a home?”

One such special place is Walpole, New Hampshire. It is a classic, carefully preserved small New England town with beautifully restored antique homes, surrounded by green fields along the banks of the Connecticut River. It has been a retreat for writers and artists for centuries, and has a wonderful, elegant feel.

The majestic Connecticut River defines the character of river valley towns as it flows south from its headwaters in the Fourth Connecticut Lake in northern New Hampshire with a terminus in Long Island Sound, passing between Old Saybrook and Old Lyme, Connecticut. It is the largest river in New England with a length of 407 miles and runs through Connecticut and Massachusetts, and forms the border between Vermont and New Hampshire. Along this border are abundant farmlands blessed with deep, rich river bottom land and quintessential New England villages and small towns such as Hanover, NH (home of Dartmouth College), Windsor, VT, Orford, NH , Bellows Falls, VT, Keene, NH and Brattleboro, VT . None, however, are more historic, charming or as well-preserved as Walpole, NH.

Walpole was first granted in 1736 as one of four fort towns strategically located along the Connecticut River to provide protection to the first settlers; The Fort at No. 4 in Charlestown, NH is a re-creation of one of these forts and is open to the public during warm weather. Walpole was incorporated in 1756 and was named in 1761 in honor of Sir Robert Walpole, the first Prime Minister of Great Britain. The first bridge across the Connecticut River, connecting Vermont and New Hampshire, was built in Walpole in 1785 and was regarded as the outstanding engineering feat of its day, as well as one of the most famous spans in colonial America.

The town features many architecturally significant homes, including several associated with Colonel Bellows (of Revolutionary War fame) and members of his family. Master builder Aaron Prentiss Howland built Walpole Academy, which is listed on the National Register of Historic Places – as are many of the beautiful homes in the village. Two of the loveliest homes in Walpole Village are now for sale: the Buffum House and the Porter House.

Buffum House in Walpole, NH

The Buffum House was built in 1786 by Ebenezer Crehore, on land once owned by Benjamin Bellows. The original Colonial hip roof style was converted to its current Greek Revival appearance in the 1840s. The home was further renovated by the current owners, who have combined a wonderful sense of style with the utmost respect for traditional New England architecture. This classic village Colonial is offered for sale at $850,000.

Porter House in Walpole Village

The Porter House, which was built in 1791, has the dignified air of the village physician’s house that it once was. While the adults in the family will appreciate this thoughtfully renovated home, the entire family will appreciate that it is just steps from Burdick’s Restaurant and Chocolate Shoppe, which just might be the best chocolate on the planet. The Porter House is currently listed for sale at $599,000.

The natural beauty of Walpole Village, combined with the lovely vintage character of the area, has long attracted home buyers seeking a quiet retreat with the intimacy of village life. As these special restored Colonials are not often offered for sale they tend to be snapped up quickly, especially at their current listed prices, offering great real estate values in a lovely setting.

For more information on New Hampshire Real Estate and Properties for sale, contact John Hayes at jhayes@landvest.com, or click here for John Hayes’s Contact Information.

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Feb

Middlesex County Real Estate News: High-End Market Watch
By LandVest

Middlesex County, Massachusetts is the most populous county in New England and is located west and northwest of Boston. It contains some of the wealthier towns in Massachusetts and was recently ranked tenth in the country in terms of the number of millionaires. It includes urban, suburban and rural areas reaching from urban Cambridge, home of Harvard University and the Massachusetts Institute of Technology, to the New Hampshire border. Along Route 95/128, towns with high-end real estate include Belmont with its attractive historic Belmont Hill section, Lexington of Revolutionary fame, Newton, particularly the Chestnut Hill area and home to Boston College, and Winchester with wonderful vistas across the Mystic Lakes. Between Route 95/128 and Route 495, along the Route 2 and Route 20 corridors, Carlisle, Concord, Lincoln, Sudbury, Wayland and Weston are small historic towns that have maintained a sense of their rural past. Sherborn is an anomaly linked more to the neighboring equestrian towns of Dover and Medfield in Norfolk County. Outside Route 495, Groton is notable for its early nineteenth century architecture, substantial farmland and two highly-regarded boarding schools: Groton School and Lawrence Academy.

ACTIVE LISTINGS AND SALES, $2,000,000+, YEAR END, 2000-2010

In Middlesex County, Massachusetts in the fourth quarter of 2010, the inventory of high-end listings shrank as expected in the winter months to 114 listings from a third quarter level of 182. The record for year-end inventory was 133 listings in 2005. The number of high-end sales peaked in 2006 (121 sales) and 2007 (126 sales). The past three years have seen considerably less activity: ninety-eight sales in 2008, sixty sales in 2009, and eighty-one sales in 2010, an increase of 35% over 2009. However, 2010 sales remained 36% lower than the peak in 2007. The uptick in sales in the first quarter of 2010 was sustained in the first half, lagged in the third quarter, and came back strongly in the fourth quarter. Towns with high-end sales in 2010 were Belmont, Cambridge, Concord, Lexington, Lincoln, Newton, Sudbury, Wayland, Weston and Winchester.

HIGHEST AND AVERAGE SALE, $2,000,000+, YEAR END, 2000-2010

In 2010, the top sale in Middlesex County was $6,500,000 in Chestnut Hill (Newton). In the past eleven years, the highest sale recorded in MLS for Middlesex County was $10,000,000 in Weston in 2008. There was also a private sale in Weston in 2008 for $11,265,000. Average year-end sale prices have been generally stable in the range of $2,600,000 to $2,900,000 over the past eleven years. In 2010 the average sale price was $2,640,536.

DAYS ON MARKET, SALES, $2,000,000+, YEAR END, 2000-2010

Days on market for high-end sales have varied dramatically over the past eleven years. In the first quarter of 2010, properties that did sell sold quickly, while in the rest of 2010 days on market increased, but were better than in 2009. Average days on market for 2010 were 187 vs. 236 in 2009 and 164 in 2008. Despite the continued uncertainty in the market, special properties expertly presented and well-priced are selling. Success in 2011, as in 2010, will depend on reaching out to a broad market with a strong value proposition.

SALES BY TOWN, $2,000,000+, YEAR END, 2000-2010

Ten of the fifty-four cities and towns in Middlesex County, Massachusetts had high-end sales in 2010. Over the period 2000-2010, Weston was the leader with 246 sales, followed by Newton (226), Cambridge (166) and Concord (120). On a population-adjusted basis, Weston was also the leader by a three-fold margin, followed by Concord and Lincoln.

The Monument Street Estate is currently available for sale in Concord.

This Classic Shingle-style on Nashawtuc Hill is currently available for sale in Concord.

Click for more information about Middlesex County Real Estate for sale.

This post was brought to you by Stewart Young (syoung@landvest.com). Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront summer estate on Stage Harbor in Chatham, Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on Cape Cod, and the Metro West area of Boston. View Stewart’s current Real Estate listings.

The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and the Adirondacks. Market data are collected from Multiple Listing Services and do not include private listings. LandVest makes no representation as to the accuracy of the data and therefore is not responsible for any actions taken as a result of use of or reliance on this information. For additional information about LandVest’s real estate consulting, appraisal and brokerage services, please contact Robert R. Borden III.

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Feb

Richard Carbonetti of LandVest Timberland, featured in The Consultant
By LandVest

Richard Carbonetti, Vice President of LandVest’s Timberland Division and President of the Association of Consulting Foresters of America, was recently featured in The Consultant, an ACF publication. The article, called “Madonna, Cher & …Carbo?” tells the story of Richard Carbonetti (or “Carbo,” as he is more commonly known by many); how he began his forestry career and how he has risen to become ACF’s newest president.

The author of the article, Robert P. Bradbury — a LandVest Forester — holds “Carbo” in high esteem as he describes his colleague’s “outsized personality” and boundless conviction to succeed at all that he does. Carbonetti graduated from the University of Maine in 1977 with a degree in Forestry. He subsequently moved to Vermont to pursue his career. In 1978, he began his own small company called Round Top Woodlot Management which steadily grew for the next seventeen years. He managed almost 100,000 acres of land before merging with LandVest in 1995.

Richard Carbonetti, LandVest

Bradbury illustrates Carbonetti’s hard-working personality by detailing instances of Carbonetti rising before dawn and keeping his limitless energy well into the night, sometimes even on overnight road trips. He was able to fit in with a variety of different people – from loggers to lawyers. In his business, and in policy work as a member of the Northern Forest Lands Council, Carbonetti always stood up for what he believed in. He actively participated in committees in order to make forestry practices better. Along with several others, Carbonetti helped to improve the laws in Vermont dealing with timber harvesting practices and overcutting.

Carbonetti is very passionate about his forestry work, and enjoyed it so much, he never even thought of it as actual work. Bradbury recalls Carbonetti saying “I’ve never worked a day in my life because I love this profession so much I’d never consider it work.”

Bradbury attests that Carbonetti wouldn’t be where he is today without the encouragement and support of his wife Emily and two sons, Ben and Sam. During the early years he could dedicate numerous hours to his work because of his wife’s patience. And for over 20 years he worked from a home office so that he could play an active role in his sons’ lives.

The article serves as a nice testament to Carbonetti’s work and his life. It is clear that Carbonetti will be an asset to ACF and will undoubtedly succeed as president.

Read the full article, “Madonna, Cher & …Carbo?”

The ACF was founded in 1948 to advance the professionalism, ethics, and interests of professional foresters whose primary work was consulting to the public. The ACF is the only national association for consulting foresters. Currently, there are more than 675 members in 40 states, as well as several international members.

Click for more information about the ACF

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Feb

Best Place to Live – Vermont: Finding Privacy and Quiet on Lake Champlain
By LandVest

This entry is brought to you by Story Jenks, who advises and assists distinctive real estate homeowners and buyers of land, estates and farms in Woodstock, Vermont and surrounding areas.

Farm Bay in Charlotte offers private waterfront vista

Remember the real estate axiom: “Location, location, location”?

The LandVest corollary to that axiom is that location and site quality determine value.

A great example of how great location and great site quality make a property is Farm Bay Point on Lake Champlain. There are a few lakefront locations on this magnificent body of water that are private and still within 20 minutes of Burlington’s amenities.

At Farm Bay Point you are transferred to idylic surroundings where only the peaceful sound of birds singing break through the quiet. This special conserved enclave is at the southern end of the town of Charlotte where it meets Ferrisburgh, on the aptly named Town Line Road. A large dairy farm straddles both sides of the road and at the gateway to the property. Thoughtful planning by previous landowners has resulted in the surrounding land’s permanent conservation by the Vermont Land Trust, The Nature Conservancy and the Lake Champlain Land Trust, guaranteeing the quiet rural character in perpetuity. The confluence of Thorp and Kimball Brook at the end of Town Farm Bay is a well-known bird sanctuary accessible by boat.

Access is at the end of Town Line Road, via a private dirt road shared by just three landowners. The offered property benefits by the privacy and quiet of the surrounding conserved land, though its own acreage is a modest (and tax saving) 1.8± acres. The site is wooded with large maples, hickory and pine with a spine of ledge outcropping creating high points with wonderful views of the Adirondacks and Lake Champlain. The property has 460 feet of lake frontage, making for superior boating and swimming access with a mooring and boat dock on one side and a dock for swimming on the other.

Enjoy the tranquility of a lakefront view

Farm Bay Point is very well priced: The 20 acre parcel south of Farm Bay Point just sold for $1.1 million, and the new owner has razed the house for replacement. The modest house on the property is built for year-round use with the great charm of a camp, but can be renovated and enlarged. The outdoor shower at the edge of the lake, discretely sited among shrubs, has some of the finest views of the water.

Beautiful Lake Champlain

Click here for more information on Farm Bay Point, a Vermont lakefront property, or for additional Properties for Sale on Lake Champlain.

For more information on Vermont Real Estate and Properties for sale, contact Story Jenks at sjenks@landvest.com or click here for Story Jenks’ Contact Information.

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Feb

Cape Cod Real Estate News: High-End Market Watch
By LandVest

Cape Cod is internationally famous as a summer resort area and is increasingly popular for retirement living. It features miles of beaches, natural attractions, historic sites, art galleries, and four star restaurants and hotels. Outdoor activities include world class yachting, coastal and deep-sea fishing, numerous public and private golf courses, and a wide variety of other informal summer sports. The Cape is just 75 miles from Logan Airport in Boston, Massachusetts and T.F. Green Airport in Providence, Rhode Island. Executive jet services are available at the Hyannis airport and there are several other smaller airports.

Cape Cod is divided into four regions: Upper Cape, Mid Cape, Lower Cape, and Outer Cape, each including several towns and villages. Upper Cape towns include Bourne, Sandwich, Falmouth, and Mashpee. Mid Cape towns include Barnstable, Dennis, and Yarmouth. Lower Cape towns include Harwich, Brewster, Chatham, and Orleans. Outer Cape towns include Eastham, Wellfleet, Truro, and Provincetown.

ACTIVE LISTINGS AND SALES, $2,000,000+, YEAR END, 2000-2010

On Cape Cod, Massachusetts, in 2010 the inventory of high-end listings grew to historic levels (204 listings vs. 185 at the same point in 2009), although 19% less than seen in the third quarter due to typical seasonal retrenchment. After a slow start, high-end sales in 2010 increased by 34% compared to last year (55 sales vs. 41 in 2009). While 2010 represents a significant improvement in sales volume, it remains 38% less than the peak of 88 sales in 2007. 2009 sales were the lowest since 2002. In June we reported seeing a burst of energy across LandVest’s markets and in the third quarter were cautiously optimistic. At year-end, sales results exceeded our expectations and 2011 is starting off with an upsurge in buyer activity, driven in part by pent-up demand among well-heeled buyers and in part by sellers who have adjusted their pricing to reflect the new realities of the market.

HIGHEST AND MEDIAN SALE, $2,000,000+, YEAR END, 2000-2010

Sale prices peaked in 2006 with a sale in Osterville at $12.5 million that remains the record sale for Cape Cod. In 2010 the top sale was $7.5 million for a LandVest private listing in Cotuit. The next three highest sales were $5.8 million for a property in Centerville that was on the market for 2,180 days starting at $9,800,000, $5.3 million for a property in Truro on the market for 1,124 days, and $5 million for a property in Chatham. The median value for high-end sales in 2010 was $2.6 million, down 7% from the same period in 2009, but the same as in 2008. Sale prices have been generally stable for the past 9 years. Curiously, the highest median sales values were in 2000 ($2,900,000) and 2001 ($3,000,000).

DAYS ON MARKET, SALES, $2,000,000+, YEAR END, 2000-2010

Days on market for high-end properties sold during 2010 grew substantially to 461 days compared to 251 days for 2009. This increase is skewed by the sale of the property in Centerville after 2,180 days, as well as several other properties selling after 3 years on the market. In 2006-2008, the average days on market for sales ranged from 218 to 264 days.

SALES BY TOWN, $2,000,000+, YEAR END, 2000-2010

For the past few years the high-end market on Cape Cod has broadened as the perennial top markets have been perceived as being too expensive and as buyers have bid up the prices of special properties in other towns. In the first half of 2010, the market seemed to be contracting, but broadened in the third and fourth quarters. Ten Cape Cod towns had high-end sales in 2010 including the leader, Barnstable, (with 12 of the 19 sales in the village of Osterville), followed by Chatham (15), Falmouth (5), Harwich (4), Provincetown (4), Orleans (3), Bourne (2), Brewster (1), Truro (1), and Yarmouth (1). In 2006, 13 of the 15 Cape Cod towns had high-end sales.

The Masthead Waterfront Compound is currently available for sale in Provincetown

The Nantucket Sound Waterfront is currently available for sale in Centerville

Click for more information about Cape Cod Real Estate for sale.

This post was brought to you by Stewart Young (syoung@landvest.com). Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront summer estate on Stage Harbor in Chatham, Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on Cape Cod, the Metro West area of Boston. View Stewart’s current Real Estate listings.

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Feb

Maine Real Estate News: Yarmouth Village Home Along Royal River for Sale
By LandVest

This entry is brought to you by William Davisson, who advises and assists distinctive real estate homeowners, and buyers of land, estates and farms in the Portland, Maine and surrounding areas.

Tidewater, located along the Royal River in Yarmouth is for sale

Tidewater is convenient to historic Yarmouth Village, a charming waterfront community with all the amenities of a sophisticated New England town.
The Town of Yarmouth, Maine is among the earliest established on the New England coast, first settled in 1646, abandoned twice before the successful settlement was established in 1713, with town incorporation August 1849. The historic vision of a New England village, clapboard colonial-era houses, church spires and a comfortable scale for neighborhood and mercantile street activities is not lost in modern times. Yarmouth is positioned along the picturesque Royal River, offering a sheltered harbor, marina, and immediate access to Casco Bay and the Gulf of Maine. Access to the natural wonders of Maine, accessible open spaces, beautiful beaches, parks, golf, tennis and recreational amenities, define this popular coastal community.
A town of some 8,300 inhabitants, Yarmouth has a rich history of agricultural, seafaring and merchant activities, and a diversified commercial base along US Route #1. Local organizations, diverse civic institutions, superb public and private schools, including North Yarmouth Academy, and a local government and community encourage active participation by its residents.

Yarmouth Village, and Tidewater’s Royall Point neighborhood, is 12 miles from Portland, Maine’s largest city. The cultural, business and transportation amenities of Greater Portland include refined merchant offerings, fine restaurants, artisan bakeries, the Portland Museum of Art, excellent medical and educational facilities, and is convenient access to Boston’s Logan International Airport, approximately 125 miles away.

Click for more information on Tidewater, a Maine Property for sale.

Maine Farms For Sale

Maine Distinctive Properties For Sale

For more information on Maine Real Estate for sale in the Portland, Maine and surrounding area contact William Davisson at wdavisson@landvest.com or click for William Davisson’s contact information

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Feb

Maine Real Estate News: Salmon Falls Farm for Sale is Pristine Example of a Gentleman’s Equestrian Farm
By LandVest

This entry is brought to you by William Davisson, who assists and advises real estate buyers and sellers of fine homes and estates and farms in the Portland, Maine and surrounding areas.

Salmon Falls Farm in Bars Mill, ME is currently for sale.

Historic Salmon Falls Farm, c1786, is a pristine example of a gentleman’s equestrian farm. Located near the historic village of Bar Mills, Maine, this beautifully restored and maintained property presents 90± acres of rolling fields, board and rail fences, mature woodlands and rural privacy along 3,600± feet of the Saco River waterfront. Features include a five-stall attached barn with tack room and adjacent stone paddock, and a well manicured cross country course. Separate barns and garages house livestock and equipment, a maintenance shop, office and efficiency apartment. Elegant interiors in the main residence include a fully equipped country kitchen and pantry, library, dining room, and expansive living room. Terraced outdoor living areas present mature perennial and vegetable gardens, a pond and brook field and river views. A separate 2-bedroom caretaker’s guest cottage has been fully restored and modernized. The property is a convenient 15± miles to the cultural, business and transportation amenities of Greater Portland, and 110± miles to Boston.

Location:

The settlement of Bar Mills, Maine, and Buxton is among the earliest established on the Saco River, dating to the early 18th century. Grants of land to Massachusetts soldiers who took part in the war against King Philip of the local Wampanoags, c.1675, received land grants along the Saco River, in lieu of the service pay. Early settlement began around 1742, with delays caused for need of shelter in the fortified coastal villages of the area, during the war between English and French forces. Renewed building activity among the farms and inland villages began, c. 1750, with incorporation of Buxton proper in 1772. One Lieutenant Samuel Merrill was among the families of soldiers benefiting from this pre-Revolutionary land award. Lt. Merrill continued as a man of prominence, serving as the popular surveyor of roads and elected selectman, with continued military activity, including the Battle of Bunker Hill. Merrill descendants remain in the area, as do the inspired homes, farms and village properties featuring Federal and Greek Revival architectural influence. A later personality, occupant of Quillcote, in adjacent Salmon Falls, brought attention to the neighborhood. The author, Kate Douglas Wiggin, will be remembered for her early 20th century stories of Rebecca of Sunnybrook Farm.

Salmon Falls Farm, now fully restored for the 21st century, remains resplendent on the promontory above the nearly ½ mile of Saco River shoreline. Now totaling some 90±acres of pristine fields, mature woodlands and gardens, the property is truly a beautiful, bucolic gentleman’s equestrian estate.

Access to the natural wonders of Maine, open spaces, Atlantic Ocean beaches, parks and recreational amenities, enhance this quiet rural community. Portland’s historic Old Port, fifteen minutes distant, supports a dynamic arts community, including the Portland Museum of Art, Maine College of Art, popular galleries, the Portland Symphony, opera, ballet, theatre and popular entertainment venues. Its cultural and business amenities include acclaimed restaurants, artisan bakeries and merchant offerings, enhancing the cherished quality of life for its residents. Salmon Falls Farm is convenient to the Portland International Jetport, and Boston’s Logan International Airport.

Click link for more information on: Salmon Falls Farm

Maine Farms For Sale

Maine Distinctive Properties For Sale

For more information on Maine Real Estate for sale in the Portland, Maine and surrounding area contact William Davisson at wdavisson@landvest.com or click for William Davisson’s contact information

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Feb

Midcoast Maine Real Estate News: 2011 Real Estate Report
By LandVest

2011 New Year Real Estate Market Report

This entry is brought to you by Terry Sortwell and Shannon Thompson, who assist and advise real estate buyers and sellers of fine homes and estates and farms throughout mid-coast Maine.

We are welcoming 2011 with renewed optimism for the upper end of the coastal Maine real estate market.

The last three years have been some of the most difficult in memory for this market. Perhaps the most salient point—one that’s driven home time and again—is that residential real estate is not a liquid investment in times like these, when buyer demand is at an all-time low. All the “fair value” numbers and appraiser comps don’t mean much if there is not sufficient demand to absorb inventory. Fortunately, here in midcoast Maine, we have not seen overbuilding or extreme price appreciation, the aftereffects of which have buried real estate markets in other parts of the country. These markets will take years to stabilize, whereas coastal Maine should recover much more quickly.

At the beginning of 2010, we predicted a year of gradual transition as the impasse between buyer and seller perceptions of value started to break. Indeed, as the year went on we started to see the slow and steady shift into a stronger market that we anticipated, and we believe that the market is finally beginning to lift off the bottom. Data from the Multiple Listing Service shows that the number of sales of properties priced over $1,000,000 in the midcoast region (coastal towns and islands from Boothbay to the Blue Hill Peninsula) showed moderate gains in 2010, as did sales statewide. See the chart below for an illustration of sales during the last decade.

This is the first modest gain we’ve seen since the market fell in 2008. (Looking back at the number of sales in this region of properties priced $1,000,000 and up, 2008 sales were down 36% from market highs in 2007, and they dropped another 20% in 2009.) It’s still too early to fully understand where values will settle, because we’ve seen considerable disparity among sales based on individual circumstances. One sure characteristic of this market is that it’s volatile. Asking prices and selling prices are inconsistent with historic norms and with their expected or logical values. It appears that values are beginning to settle out to where they were before the spike in the market in 2006 and 2007.

The biggest problem facing this market today is a continued lack of demand. Seller valuation expectations are rising in conjunction with stock market optimism, but real estate values are lagging behind. Buyers who are making offers are making low offers, because they’re still not convinced that the market has reached bottom and that spring won’t bring more price reductions.

However, there’s most definitely a bright side. Buyers are starting to gain confidence, and they are stepping back into the market in small but noticeable numbers. We anticipate continued slow and steady improvement as we move through 2011.

Click to view more Camden, Maine (and surrounding area) real estate for sale.

Click for more information on real estate properties in the Camden, Maine area.

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