You can't go wrong buying a waterfront property ( If you can afford it). There is something special about having your boat tied up out the front of your property. IMHO
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| Author: | Kelleyo [ Thu Feb 04, 2010 2:37 pm ] |
| Post subject: | Lake Property |
Curious if everyone has seen a drop in the cost of lakefront property? .5 to 1 acre lots on our lake were in the 4 to 500K range and I am now seeing them in the 200K range. I am considering buying a lot and selling my cabin (which is not currently on the lake) and then building new... |
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| Author: | sachem29 [ Thu Feb 04, 2010 3:21 pm ] |
| Post subject: | Re: Lake Property |
You can never go wrong buying waterfront property, they're not making any more of it |
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| Author: | aguyindallas [ Thu Feb 04, 2010 4:20 pm ] |
| Post subject: | Re: Lake Property |
My house is lakefront. In the tough times, my values have dropped...VERY slightly...like 3-5K, according to realtors. With that said, the tax office INCREASED my tax value last year by 7K. |
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| Author: | 07H200SS [ Thu Feb 04, 2010 4:46 pm ] |
| Post subject: | Re: Lake Property |
My wife and I have been looking at lake property in our area and is a big dream of mine to live on the lake. Hopefully sometime in the next 5-10 years it will happen. Need to wait for the kids to get out of daycare for starters, as what we pay for that and current house would cover the cost for sure. PLus we need this market to come back so we get some more equity in our current house. And we would like them old enough that we don't have to worry about them playing near the lake also. I think we would use the boat so much more if we had our own dock. Back on topic we have seen property values in our area drop pretty severe. Any where from 5-50K depneding on the house and location. Funny to that around here property taxes are actually cheaper on the lake than what we currently pay!! Figure that one out? |
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| Author: | sachem29 [ Thu Feb 04, 2010 4:51 pm ] |
| Post subject: | Re: Lake Property |
I live on a lake up here in Mass and I can tell you that lakefront property overall does not lose value as much as a home not on the water. With that said timing is everything! |
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| Author: | c5er [ Thu Feb 04, 2010 8:06 pm ] |
| Post subject: | Re: Lake Property |
In wisconsin the values dropped pretty significently, what was once a dream that seemed to get further and further away every passing year was realized last fall when we bought a tear down and built a new house on a lake. I cannot wait for spring to get here. |
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| Author: | 07H200SS [ Thu Feb 04, 2010 9:41 pm ] |
| Post subject: | Re: Lake Property |
c5er wrote: In wisconsin the values dropped pretty significently, what was once a dream that seemed to get further and further away every passing year was realized last fall when we bought a tear down and built a new house on a lake. I cannot wait for spring to get here. What lake? We were looking for a tear down our selves with not much luck in our area. Tear down would be ideal for us as my brother-in-law owns his own buisness building homes. |
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| Author: | c5er [ Thu Feb 04, 2010 11:10 pm ] |
| Post subject: | Re: Lake Property |
We bought on blue spring lake in jefferson county, its a small lake but big enough for everyday fun and the big lakes are only 20 minutes away. Even the lake homes along I94 between milwaukee and madison were appoaching affordable, however the taxes were just astronomical. |
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| Author: | ardy [ Fri Feb 05, 2010 2:44 am ] |
| Post subject: | Re: Lake Property |
You can't go wrong buying a waterfront property ( If you can afford it). There is something special about having your boat tied up out the front of your property. IMHO
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| Author: | Winns For Life [ Sun Feb 07, 2010 3:55 pm ] |
| Post subject: | Re: Lake Property |
Funny you mention this. Last week a Lake Front House that would sell for at least $500,000.00 sold for $198,000.00. I was in shock. The home was small but during normal conditions it would not matter. It is hard to say what any house is worth anymore in our area. I have a farm and am not looking to sell but if I had to I would be worried. |
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| Author: | LouC [ Sun Feb 07, 2010 8:07 pm ] |
| Post subject: | Re: Lake Property |
No lakes here but we have both water front...and water view properties...since there are so few of them that come on the market the values have maintained pretty well...but here the bigger issue is that insurers don't want the risk of insuring coastal areas so it's harder and more expensive to get insurance...I would not trade living here (North Shore Long Island) for anywhere else in the tri state area of NY Ct and NJ but it's just real expensive. Then again ouir house has at gone up at least 2 1/2 times the price we paid 18 years ago so I can't really complain! 1 hr from NYC by train..protected boat mooring out back...easy access to Long Island Sound... |
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