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Lake Front Property Values

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Old 04-25-2006, 07:22 PM
  #31
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Default Re: Lake Front Property Values

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Originally Posted by unimog1300
i was wondering if the cost of gas today & in the forseeable future has made anyone rethink their lake front property wherever it might be located. if you already own[we have a condo @ LOTO & are looking at a lake front house in addition to the condo], thinking about buying or whatever. are you concerned with your investment? are you going to go ahead as usual if you are looking right now? will the cost of gas as related to the boating side of the economies of these lakes affect property values? i really don't see gas prices coming back to what we would consider normal or what we are used to. just was wondering what you guys thought. we bought our first property for an investment as well as for enjoyment. we got tired of looking at our investment statements with the negative signs all over. we went to the lake & bought. so far the first one got us $25,000 profit in 6 months. we would like to repeat this cycle!! are these days over because of the gas prices? thanks for any thought you might have, steve
We have a place at Smith Mountain Lake in Virginia and the real estate market seems to have slowed down some. We own our home outright and rent it during the summer for extra income. We can't be down there every weekend anyways. I don't plan on selling anytime soon, and if I had to sell it now, I could probably make some money on it. We've had it about 2 years. As far as gas prices affecting people coming to the lake, we have the same number of rental reservations this year already as we had all of last season.
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Old 04-26-2006, 09:26 AM
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Default Re: Lake Front Property Values

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Originally Posted by masher44
I thought that too. We developed and sold out a place on Topsail Island NC in 2000. NO Federal Insurance available... only private... sold like hot cakes beyond belief. There will always be someone offering insurance.... the cost for these people with 1-3 million dollar homes doesnt really matter. At the time the cost to insure a 500K home there was 12 to 15K a year.
Interesting, I heard about that place. I have family in that area, although we are white trash red necks from NC ! Was told Al Gore and a few Hollywood types bought there. You are indeed right, the cost doesn't matter to folks with that type of $. They are called the "self insured".
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Old 04-26-2006, 12:16 PM
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Default Re: Lake Front Property Values

bUY ALL THE WATERFRONT PROPERTY YOU CAN AT loto, ITS GOLD, PERSONNALLY BOUGHT 5 lakefront porta cima lots in last 2 years , they have all almost doubled in value, I have more homes to build then the contractor base can complete.
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Old 04-26-2006, 12:52 PM
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Default Re: Lake Front Property Values

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Originally Posted by 88Fountain
We have a place at Smith Mountain Lake in Virginia and the real estate market seems to have slowed down some. We own our home outright and rent it during the summer for extra income. We can't be down there every weekend anyways. I don't plan on selling anytime soon, and if I had to sell it now, I could probably make some money on it. We've had it about 2 years. As far as gas prices affecting people coming to the lake, we have the same number of rental reservations this year already as we had all of last season.
Wow, small world....I just moved to Warrenton from Bristow and we bought a place at SML at on Craddock Creek a little over a year ago. We rent it during the summer as well but get down every chance we can. We are not looking to sell either place any time soon either. I will be down this weekend and May 20th during the Poker Run. I have a white/red/orange Sunsation. Do you have flag graphics on your Fountain?

Ty
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Old 04-26-2006, 03:15 PM
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Default Re: Lake Front Property Values

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Originally Posted by Aggressor 25
Wow, small world....I just moved to Warrenton from Bristow and we bought a place at SML at on Craddock Creek a little over a year ago. We rent it during the summer as well but get down every chance we can. We are not looking to sell either place any time soon either. I will be down this weekend and May 20th during the Poker Run. I have a white/red/orange Sunsation. Do you have flag graphics on your Fountain?

Ty
Our place is off of Airport Road. We won't be back down until May 13-14 weekend. Our boat is white with red, black, and silver stripes down the side. We'll have to keep a lookout for your boat.
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