The recent boom in North Conway NH commercial development may be the factor giving a boost to second home real estate sales in the Mount Washington Valley. The opening of Home Depot may not have had a tremendous impact but the domino effect of Christmas Tree Shops, Loew's ( December 1, 2007 ?) and Starbuck's imminent arrival are indicators of a trend in retail development. As we have seen in southern NH and across the region, is that the big names attract other big names. Where there is a Christmas Tree Shop, a Linens-n- Things is bound to follow. 99 and Appleby's are here and who knows who they will attract.
The North Conway area is known across the globe for it's mountain backdrop, area campgrounds, scenic highways and clear, running waters. In the retail world it has become a hotspot for outlet shopping. Mix clean mountain air with beautiful scenery and outlet shopping, within a 2 hour drive of Boston and Providence, and you have the areas largest tourist attraction: shopping. Now add in the secret formula for big business: Build regional hubs of big retail and they will come from far and wide to get the best prices and all their shopping done in 1 place. It's a formula repeated again and again across the country. It's not a coincidence that every place that has a Border's Books has an Olive Garden, Pizzeria Uno or a TGI Fridays within a half mile of eachother.
This regional approach attracts the homeowner on Ossipee Lake and the ski chalet owner in Jackson, the farmer in Chatham, artist in Tamworth, Silver Lake vacationer in Madison, Inn owner in Eaton, fairgoer in Fryeburg Maine and on and on. It also shows a type of cultural growth and an economic confidence in the White Mountain region. This economic confidence has helped this real estate market continue to thrive. It's not the same market it was in 2005 but it has stayed somewhat insulated from the downward spiral that is being experienced in other parts of the country.
The insulation is enhanced by the retailism but is founded in the type of property ownership that makes up most of the Mount Washington Valley, North Conway NH and Ossipee Nh areas. Second home ownership is a mix of those that have kept family property and owe nothing to boomers that can afford the property as well as plenty of Gen X (and some Ys) that want to have some fresh air fun and can afford it too. This type of somewhat more affluent owner has a lower risk of foreclosure now or in their near future. With the bottom still intact, there is little chance of a major slide in the real estate prices locally.
For more information from this local real estate broker, covering New Hampshire and Western Maine, check out Bill Barbin's personal real estate website at http://www.billbarbin.com . Coverage areas include Harrison ME, Naples ME, Bridgton ME, Fryburg ME, Brownfield ME, Denmark ME, Lovell ME ( Kezar Lake and the Kimball Pond area ), Stow ME, Chatham NH, The Conways, including North Conway NH, Bartlett, Jackson and Hart's Location, Hale's Location, Albany NH, Tamworth NH, Freedom NH, Ossipee NH, Sandwich NH, Moultonboro NH, Tuftonboro, Wolfeboro, Effingham and Wakefield NH. Bill is a member of the White Mountain Board of Realtors, NH Assoc. of Realtors, National Assoc. of Realtors, The Buyer Agency Council of America, NHCIBOR (The New Hampshire Commercial Investment Board of Realtors, NH Commercial Property Exchange, Realtor Commercial Alliance. Bill is an Acreditted Buer's Representative and a designated ePRO broker. Bill's is on the NNEREN MLS Board of Directors. In his spare time Bill is a Level 1 Firefighter and Wilderness EMT-B with the Conway Village Fire/Rescue/Ambulance and an American Red Cross CPR Instructor. Bill's other blog is http://www.homesaregood.com . Cellphone is 603-986-0385. Bill is Blackberry 8830 enabled.