Have you ever been to "Bike Week" in Laconia or some other national motorcycle rally such as Daytona or Sturgis?
I just returned home from a night in Laconia and spent about 17 minutes amidst the 26 million bikers that basically took over the town for the week. Don't get me wrong I would have loved to spend the entire day just people watching and being a part of such a major event but I was one of the 7 people in Laconia today that does not own a motorcycle and I cleverly parked on a street that was closed to 4 wheeled vehicles. Unfortunately as soon as I made it down towards the strip I noticed there was a tow truck in the area.
Sure it's a "motorcycle rally" and yes the locals and the bikers refer to it as "bike week" but I think it's turned into more of a "real estate" rally than anything else. The whole event is basically centered around really expensive real estate needs.
It starts with the fact that in general, room rates in Laconia are pretty standard throughout the summer except for this one week when the rates just about double or triple not to mention the fact that you have to book a hotel room 3 years in advance (not really but you get the point). The locals don't want to be around during this week so they rent their houses out for between $1,500 and $4,000 for the week depending on how close you are to the "Strip" and the likelihood of some guy in chaps puking on your lawn as he leaves The Broken Spoke.
Once you arrive, you then have to make your way down to the Weirs Beach area where all the action is. Route 3 is the main route from Meredith to Weirs where you will see the never-ending parade of motorcycles and it's lined with vendors on both sides for miles and miles. This is prime real estate for companies selling motorcycles and related "gear"... These vendors pay anywhere from $2,000 - $10,000 to set up a booth for the week. Some of this money goes to private property owners and some goes to the city of Laconia which owns land along the road that they make available to vendors. Three of the more notable booths were the bikini bike wash, the guy cleaning sunglasses, and the fresh squeezed lemonade.
Then you figure there are the 26 million bikers that come for the week and although you might think that all they do is drive around and around revving their engines looking mean, they do get off their bikes once in a while to shine their boots, get a meal, have a beer...etc...These bikers pay anywhere from $5 - $10 to park their bikes in people's backyards that have been turned into makeshift parking lots throughout the area. If you were one of the 7 people there with a 4 wheel vehicle that wanted to park somewhere, you would have noticed that the price went to $20 and you had to park way in the back by the port-o-potties.
In terms of available commercial real estate being a hot commodity, there are properties in the area that actually stay vacant all year round and then a company will come in, rent a space for bike week, set up a store, make tons of dough, and then the following week...ghost town.
My point is that although the 26 million (yes I'm over-estimating) people in town for the week are there because of a common interest in motorcycles, you have to consider the effect this one week has on every aspect of real estate for the city of Laconia.
Who goes to Laconia for any other reason other than to experience bike week?
Have you ever been to Weirs Beach?
Oh and speaking of Port - o - Potties...there was actually a whole section of a street that was closed down to accommodate about 50 portable toilets. I'd bet the family that lives next door to that lineup has a much different feeling about the effect of Bike Week on real estate values...
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