NH Real Estate Market (Manchester, Concord: sales, apartment, to rent)

[jdhpa]

I've actually been very impressed with state government this year. It's a relief to see that it's still possible to set aside partisan histrionics and implement good governance. I appreciate our Legislature and Governor this term, and the voters who elected them.

[chris410]

Just saw this Gem hit the market. They even had the nerve to raise the price since last year... Unreal..

https://www.trulia.com/p/nh/nottingh...90--2003260735

[KCZ]

Hmm, it's a 15 year old 4700 sq ft house on 5 acres of land that needs a massive cleanout. The original listing price was $750K in 2009. The town has it assessed for $526K. This might not be a bad deal but a thorough inspection is in order.

[GraniteStater]

Originally Posted by chris410

Just saw this Gem hit the market. They even had the nerve to raise the price since last year... Unreal..

https://www.trulia.com/p/nh/nottingh...90--2003260735

It is way over assessed by the town given the construction quality of the house, taxes aren't enough for current use given the 5 acre plus lot. Needs lots of work even for a flip...

[abnfdc]

Ouch, that 5 acre parcel alone is assessed at $135,800 with the building at $358,400 and a bonus single wide assessed at $29,700.

Really not seeing why the land is assessed that high.

Lot: 003-0006-001

[cowbell76]

After looking at the location on the map, and how it’s just off Route 4, I wondered if it was in an area zoned commercial, and it is. It appears to be zoned commercial/industrial, and the base rate for 2 acres is $135,000. That seems insane because I don’t think there is some huge shortage of land along there or big appetite to build commercially in the area.

Randomly selecting other parcels, that seems to be the base rate for residential, too. I wonder what it was last year.

[cowbell76]

Reading the listing description it sounds like at that price this is a short sale, too….?

Edit to add… I know that Nottingham is fairly desirable, but I don’t think this location on Route 4 is. I used to live in this general area, and it’s sort of “not far” from a bunch of places, but not really close, either. And Route 4 is ugly and there is often terrible traffic and you get stuck on stretches where you can’t pass.

Also I just noticed from the assessing information that the house is on a slab. And the town considers the quality to be “Average +20.”

[KCZ]

Someone who's selling a $1M house in NY or NJ and wants to move to NH will see this, envision a cleanout, kitchen & bath reno, new paint and flooring, and new garage, and buy it sight-unseen. It's been happening for months now. With the current prices of building materials, you can't put a new house of that size on a 5 acre lot for $419K.

[Williepaws]

Originally Posted by Wells5

What's to replace this tax: higher residential property taxes or higher business profits taxes or a higher business enterprise tax or higher corporate income taxes or reinstating the estate tax or a combination or cutting back state and local spending?

NH is a great state the way it is. If you love taxes so much go live in Ma. That state has a tax for everything! you might be happy there.

[the_monster]

Originally Posted by abnfdc

Ouch, that 5 acre parcel alone is assessed at $135,800 with the building at $358,400 and a bonus single wide assessed at $29,700.

Really not seeing why the land is assessed that high.

Lot: 003-0006-001

What does one do or how does one address a high assessment? Are assessments able to be challenged? Sorry for my ignorance. Assessments for tax purposes really irk me. I believe the assessed value should be based on the price the owner paid and not changed until it sells again. I knew someone who was being assessed for years at a much higher value than he eventually sold it, granted it was when the bottom dropped out, but do the town's reimburse the home owners later? Not. We're moving that way because we're getting soaked in Washington. No income tax here either but they're greedy with homeowners.