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How does one estimate the value of a lakefront home on the same lake in a relatively close proximity

How does one put value on access to the water, quality of the beach, depth of the water for mooring a boat and of course quality of the water?
  • September 05 2010 - Colchester
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Answers (2)

Hello Ed,

I am a Realtor/Owner of Catamount Realty. I have access to all homes that are currently listed and have been listed with a Realtor. I also am familiar with many of the properties which are currently listed or were previously listed by owner so I am qualified to help you determine a realistic price for your waterfront home.
 
The first step is to know the room sizes, upgrades and specifics of your home in addition to its waterfront characteristics. The next step is to compare your home to the other homes which are currently on the market which would be considered as your competition. We will also look at homes that have been withdrawn or expired from the market which means that they were listed, but did not sell. Most importantly, we will look at homes that have sold and compare those homes to yours. Sold 'comps' are most important because we know what price got them to sell, how many days they were on the market, etc.  Looking at the current competition is important too, however if a home is new on the market and we look at its price now, we don't know if that house will reduce its price substantially and take forever to sell.  Therefore, we will take all types of listings - active competition, expired and withdrawn listings and closed sales all into account. We would also discuss in detail a marketing plan which will get your home sold. I would be happy to discuss all of this in detail with you. Please feel free to contact me on [contact info removed by moderator]

Thank you,
Mark Montross
Catamount Realty Group

  • September 05 2010
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I would look for homes that have sold and have water access. Try to compare two or three properties with the same type water access, waterfront,water view,beachs and water quality. One of your local Realtors should have a good idea of what has sold and the current property values are. 
  • September 05 2010
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