There were a couple of articles recently in the Boston.com real estate blog about the Boston condo market. One was about a recent record setting $10.5 million sale back in May at the Four Seasons for a 3,525 square foot, four bedroom, three and a half penthouse unit. That's just shy of $3,000 per square foot folks! This same unit sold in 2000 for $6.3 million so someone made a pretty great investment.
That appreciation was the subject of another blog post which gives warning to a possible real estate bubble in the condo sector of the Boston market. It stated that the average price of a condo in Boston in 2000 was $438,000 compared to $738,000 today. That's a whopping 71 percent increase in prices.
The median price of a condo there is current at $330,000 compared to the bubble bursting year of 2008 when the median price was $274,000. Some feel that the market is just a tad overheated and possibly signaling another crash might be around the corner.
I don't think we need to work about a condo market crash here in the Lakes Region, however, as the two following charts show. Our peak year in terms of price was 2007 at an average of $209,417 and we currently coming in at an average of $176,504 two thirds of the way through 2014. Our peak year for total sales was in 2004 when 381 units were sold. We are well below that now with 206 units sold in 2013 and on track to finish off 2014 well below that.
So what's the difference between the high flying Boston market and the Lakes Region condo market? Well, the smart ass answer is just about 95 miles. The real answer is that the Boston condo market is a primary residence market and ours is mostly a discretionary vacation home market. We are all about fun and enjoying all that our area has to offer and the Boston condo market is about living in the city to avoid the horrendous commute to get into the city to go to work! And when people have to pay so much for housing in the Boston area they, unfortunately, might have to think twice about spending any free money they have on a second home up here.
Please feel free to visit www.lakesregionhome.com to learn more about the Lakes Region real estate market and comment on this article and others. Data was compiled using the Northern New England Real Estate MLS System as of 8/25/14. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-677-7012.
Last Updated on Friday, 29 August 2014 08:12
Harry Reid is a bigoted Beltway corruptocrat with an interminable case of diarrhea of the mouth. The feeble-minded coot stuck his foot in that mess of a mouth again last week at the Las Vegas Asian Chamber of Commerce. But as mortifying as the Senate Majority Leader is, there's an even worse spectacle: Asian-American liberals who keep giving top Democrats and their partisan operatives blanket passes.
Reid clumsily offered his assessment of the success and intelligence of business leaders of Asian descent at the gathering. "I don't think you're smarter than anybody else, but you've convinced a lot of us you are," he babbled. You put those uppity Asians in their places, Hater Harry!
During a question-and-answer session, Reid followed up his jibe with a crude "joke" about Chinese surnames that would make Archie Bunker cringe: "One problem that I've had today is keeping my Wongs straight."
Good thing the pale-faced codger didn't let a "ching-chong" slip out, too. You know it was ringing around between his ears. Mocking Asian monikers is a hanging offense if you're a Republican pol or conservative talk-show host. But it's just a meaningless gaffe by "diversity's" best friend when you're Democratic Senate Majority Leader.
That's why Reid's hosts obliged with subdued tittering. National news anchors selectively averted their gazes. The Asian American Journalists Association, so quick to issue sanctimonious guidelines for avoiding ethnic stereotypes, maintained radio silence. And the usual left-wing speech police who read racism into every word uttered by conservatives from "angry" to "Chicago" to "Constitution" to "Obamacare" saw and said nothing.
One bizarre group, Asian Pacific American Advocates, was only offended because they resent public attention paid to successful Asian Americans. They vented that Reid "falsely assumes that our communities continue to perpetuate the model minority stereotype, when we have been actively working to highlight the vast socioeconomic disparities within our communities." These confused people have spent way too much time in social justice 101 classes.
Back in Washington, D.C., the usually garrulous Democratic chairwoman of the Congressional Asian Pacific American Caucus (CAPAC), Rep. Judy Chu, responded by ... not responding at all. CAPAC Executive Director Krystal Ka'ai did not return my e-mail seeking reaction to the race-mocking Senate Majority Leader, who has now apologized for his "extremely poor taste."
Chu and her ethnic grievance caucus — which pledges to "denounce racial and religious discrimination affecting Asian Americans and Pacific Islanders" — did find time over the past year to:
— attack a Seattle theater production of The Mikado for its use of "exaggerated Asian stereotypes."
— "denounce" comedian Jimmy Kimmel for a kids' table skit that poked fun at America's debts to China.
— demand the firing of Fox News liberal chucklehead Bob Beckel for using "racial slurs" against Chinese people.
Here's another glaring omission by the Democrats' whitewashers: Neither CAPAC's press release archive nor its Twitter account has published a word about the ugly liberal racists in Kentucky who've repeatedly attacked former GOP Labor Secretary Elaine Chao.
Last year, left-wing super-PAC Progress Kentucky tweeted multiple China-bashing messages insinuating that Chao, the Taiwanese-American wife of GOP Sen. Mitch McConnell, was part of some conspiratorial plot to move jobs to Asia. The Progress Kentucky xenophobes denied engaging in race-baiting. But the dog whistle — dog trumpet — had been sounded, and the liberal racist hits keep on coming.
Earlier this month, Kathy Groob, a "progressive" supporter of McConnell's Democratic opponent, Alison Grimes, repeatedly insulted Chao on social media as his "Chinese wife". She's "not from KY, she is Asian," fumed Groob. You won't be surprised to learn that Groob had complained copiously about "sexism" and "racism" by the tea party.
When will doormat minorities grow spines and stop protecting the progressives of pallor who denigrate them? Collectivism is a hard, cowardly habit to break.
(Syndicated columnist Michelle Malkin is the daughter of Filipino Immigrants. She was born in Philadelphia, raised in southern New Jersey and now lives with her husband and daughter in Colorado. Her weekly column is carried by more than 100 newspapers.)
Last Updated on Thursday, 28 August 2014 09:49
There's a painful lesson to be learned for liberals, especially liberal Jews, from the hopefully concluded war in Gaza.
Most of my liberal friends desperately want to believe that the fact that Israel is subject to more criticism than almost any country in the world (including some very scary ones), that respected universities consider calls for boycotts, that student government slates (at UCLA) run and win on pledges not to accept travel from the Anti-Defamation League, that all of this and more has absolutely nothing to do with the fact that it is a Jewish state, much less with anti-Semitism. No, it's not about holding Jews to a different standard; it's Israel.
Newsflash: Not so in this war.
Israel is not the "occupier" of Gaza. Israel did not build tunnels into Gaza.
Show me another country that would be castigated, as Israel has been, even in the American media, for protecting its citizens against terrorists who had secretly figured out how to infiltrate their towns and villages, who were sending rockets aimed at major population centers without even a pretense of targeting the military.
You know what the world would say if another country were the one taking on terrorists who have vowed to destroy us, as well. We would say thanks. We would say well done. We would be very glad that they were willing to send their soldiers into harm's way, that they were adept enough to target militants. Would the international media be castigating the country that first warned of impending attacks and then hit houses where the dead were pulled out carrying rifles to the cheers of the crowd? They would not.
How is it that Israel became the villain in a war it did not start, that was necessitated by self-defense, that cost needless lives because Hamas does not value the lives of its own people either?
One of my friends sent me an e-mail from an Israeli doctor whose team had saved the life of a Palestinian woman who had been burned by her own family (likely for straying beyond the proper limits for women).,She returned to Gaza and was encouraged to return to Israel for outpatient follow-up. She was stopped at the border, suicide bombs strapped to her body, on her way to her follow-up appointment in Israel. She planned to kill herself and those who had saved her life. Her family told her they would forgive her if she did.
This is why Israelis were overwhelmingly in support of this war. It is because it was a war of self-defense, part of the struggle for survival that we would like to believe is limited to the countries in the Middle East, but is built on hatred and hypocrisy that cannot so easily be cabined.
It is good that there is a ceasefire, good that families on both sides can sleep a little better and breathe a little easier, good that fewer lives may be lost in the short run. But we liberals cannot kid ourselves.
My mother saw anti-Semitism behind every corner and always urged me not to offend. I was determined to push back against those limits — when I was growing up, limits on who could live where and go to school where and even go fishing off of which dock — just like I was determined to push back on the limits imposed on women. No one's victim. Not me. We Jewish Americans have done very, very well and have much to be grateful for.
But blindness is more dangerous than paranoia.
It wasn't — it isn't — just about Israel.
(Susan Estrich is a professor of Law and Political Science at the University of Southern California Law Center. A best-selling author, lawyer and politician, as well as a teacher, she first gained national prominence as national campaign manager for Dukakis for President in 1988.)
Last Updated on Friday, 29 August 2014 05:39
The decisions that determined the fate of the great nations and empires that failed to survive the 20th century are well known.
For the Kaiser's Germany, it was the "blank cheque" to Austria after Sarajevo. For Great Britain, the 1939 war guarantee to Poland. For the Third Reich, it was the June 1941 invasion of Russia. For the Empire of the Sun, the decision to attack Pearl Harbor.
And for the Soviet Empire, it was the invasion of Afghanistan.
As for the United States, historians may one day concur with the late Gen. Bill Odom. For the lone superpower to survive that century, the decision to invade and occupy Iraq was the most disastrous blunder in its history.
George W. Bush held out the promise of a peaceful Mesopotamian democracy as a magnet for all Arab nations. What we produced is a broken land awash in blood, a country severed by tribe and faith: a Kurdish north, Shia south and a Sunni west controlled by the savages of an "Islamic State" even al-Qaida hates and fears.
In Syria, where the United States has been aiding rebels to bring down Bashar Assad, that Islamic State now controls the northern and eastern half of the country. In Libya, where we delivered the air and missile strikes to smash Col. Gadhafi's forces, Islamist fanatics have gained the upper hand in the civil war for control of that country.
In all three countries, the United States, which claimed to be battling dictatorship to bring democracy, helped to create the power vacuum these Islamists have moved to fill.
We are the enablers of the Islamic State.
How grave is the threat?
ISIS is a "direct threat to our homeland" says Rep. Peter King. "An existential threat" echoes Sen. Lindsey Graham, "I think of an American city in flames." The Islamic State "is beyond anything we've seen," says Sec. Chuck Hagel, an "imminent threat to every interest we have." America is "in the most dangerous position we've ever been in," says Sen. Jim Inhofe, "They're crazy out there. And they are rapidly developing a method to blow up a major U.S. city."
Undeniably, these are bloodthirsty religious fanatics who revel in beheadings and crucifixions and have exhibited battlefield bravery and skill. But are 17,000 jihadi fighters in landlocked regions of Iraq and Syria really an imminent and mortal threat to an America with thousands of nuclear weapons and tens of thousands of missiles and bombs and the means to deliver them?
How grave is this crisis? Consider the correlation of forces. Who are the vocal and visible friends and fighting allies of ISIS?
They are nonexistent. The Turks, Saudis, Qataris and Kuwaitis who, stupidly, have been aiding ISIS in bringing down Bashar Assad and blowing a hole in the "Shia Crescent" of Tehran, Baghdad, Damascus and Hezbollah, have lately awakened to their idiocy and are cutting off aid to ISIS. Moderate Sunnis detest ISIS for its barbarism and desecration of shrines. The Christians and Yazidis fear and loathe them. The Kurds, both the Syrian YPG and PKK, which broke open the exit route for the Yazidis from Mount Sinjar, and the peshmerga despise ISIS.
Lebanon's army, Syria's army, Hezbollah and Iran have been fighting ISIS with Russian assistance. Vladimir Putin himself warned us of the absurdity of our attacking Assad last year, arguing that we would be allying ourselves with the same terrorists who brought down the twin towers. Was Putin not right?
Even al-Qaida and Hamas have repudiated ISIS.
We need no boots on the ground in Syria, for it is the presence of "Crusaders" on Islamic soil that is the principal recruiting tool of the jihadists. What we need is diplomacy beyond the simple-minded, "Either you are with us or you are with the terrorists!" a diplomacy that invites old enemies into a coalition for a cause on which we all agree.
If Assad is willing to go in for the kill on ISIS, let us work out a truce and amnesty for the Free Syrian Army and call off that part of the rebellion, so Assad's army can focus on killing ISIS.
George H. W. Bush made an ally of Hafez al-Assad in Desert Storm. Why not make an ally of his son against ISIS?
We should next tell the Saudis, Qataris and Kuwaitis that any more aid to ISIS and they are on their own. We should inform the Turks that their continued membership in NATO is contingent upon sealing their border to ISIS volunteers and their assistance in eradicating the terrorist organization.
We should convey to Iran that an end to our cold war is possible if all attacks on the West stop and we work together to exterminate the Islamic State. Why would they not take the deal?
As for Abu Bakr al-Baghdadi, the self-proclaimed successor to Muhammad, my bet is that he closes out his brief career as caliph at an unscheduled meeting with Seal Team 6.
(Syndicated columnist Pat Buchanan has been a senior advisor to three presidents, twice a candidate for the Republican presidential nomination and the presidential nominee of the Reform Party in 2000. He won the New Hampshire Republican Primary in 1996.)
Last Updated on Friday, 29 August 2014 05:41
There were 89 residential home sales in July in the twelve communities covered by this report. The average sales price was $383,974 with almost half the sales being under $200,000. The median price point was exactly $200,000. This compares to 110 sales last August at an average of $299,469.
As a real estate agent, I have to answer a lot of questions each day from customers, clients, and other realtors. You know, like what are the taxes, when was the home built, and where are the boundary lines? One of the most often asked questions I hear is "How much is this place?" It kind of amazes me that someone, either the buyer or his agent, scheduled the appointment and is standing in front of me but doesn't know how much the property is on the market for. But, there are lots of questions and sometimes you know the answer and sometimes you don't. One of the cardinal rules is that you should never make up an answer if you don't know it. That will do nothing but get you into deep trouble. However, no one ever said you couldn't have some fun.
Many times when we are at a property that is just a little bit off the beaten path and I am dealing with a buyer from out of the area they will often ask "Do they plow the road here?" My standard answer is "Once every winter." That usually brings a puzzled look and then a smile.
When asked why the water appears to be so low in the lake I like to respond that the tide is out just to test them. Buyers that aren't familiar with the lakes sometimes will ask if you can get from Winnipesaukee to Winnisquam by boat to which I will say "Only if you go really, really fast." Or they ask if you can drive to that $230,000 island property. The answer is usually "No, unless you are driving a boat." "How long does it take to get to Wolfeboro?" "Well, that would be about 30 minutes unless you take the tunnel and then it would be ten minutes."
And buyers sometimes will ask questions for which there are obvious answers like "Where's the basement?" Around here it is usually under the house. Or "Where does the sun set?" "That would be in the west." To be fair, that is a hard one sometimes, but I have a really cool app that shows you exactly where the sun rises and sets. Technology is great, isn't it?
It also amazes me when I am showing a home that I have listed that a buyer will often ask "How much will they take for this place?" I guess that's the real estate equivalent of the $64 million question to which the answer is always "Why don't you write up an offer and we'll see."
Please feel free to visit www.lakesregionhome.com to learn more about the Lakes Region real estate market and comment on this article and others. Data was compiled using the Northern New England Real Estate MLS System as of 8/18/14. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-677-7012.
Last Updated on Friday, 22 August 2014 08:08