Waterfront properties have been selling very – very well – for the past several years! See the chart below…
Interpreting and truly understanding waterfront property sales and values can sometimes be an interesting proposition. And, buying, selling and valuing waterfront property has lots of Very “Unique Twists and Turns.”
Sounds a bit cliché doesn’t it? After handling over 40 waterfront real estate transactions, as well as, tracking and analyzing every waterfront listing for sale and closed transaction, we know that buying or selling waterfront real estate is truly a unique and most times, complex transaction!
Download a quick PDF Waupaca Chain Property Sales Report with analysis
Whether you are a buyer or a seller of waterfront property or a current owner just wondering how properties are selling, it is very important that you understand all the nuances and have a complete understanding of how waterfront property is valued and what the local sales trends are today.
Examples of waterfront transaction that need "perspective" if you are a buyer or seller of waterfront property:
A while back, a very nice piece of vacant land, with perfect sand lake bottom, sold for $370,000 after being listed for $679,000 just 18 months earlier. Back in 2012, this same parcel of land sold for $610,000. Why did it recently sell for such a low price?
Waterfront Buyers – Click Here – to receive your custom written Waterfront Buyers' Guide which could save you lots of money and help prevent future headaches
In 2017, a very nice waterfront property was listed for sale on the Waupaca Chain O' Lakes in the upper 800,000 price range. It sold almost immediately. Was it underpriced? Another waterfront property sold at about the same time recently for – in the mid $700,000 range but, was on the market for over 3 years. Did these two properties sell for a fair price – why or why not?
Again, we analyze all area waterfront transactions – so you do not have to, and as a result, have informed opinions backed up by analytic research. The answers to the above questions are relatively long so, if you are a waterfront buyer or seller please contact me for some hopefully valuable thoughts. 920-889-9989 Sell Phone – or, Steve@Huhta.com
Below is a small portion of what is again, hopefully, valuable, analysis.
If you are a waterfront buyer, how do you know what the fair price is for a waterfront property? Or, if you are a waterfront property seller how do you know what your property is really worth and what the original listing price should be?
Again, we track and analyze all waterfront properties for sale and that have sold so our clients have the most up to date and detailed information possible, when making a decision to buy or sell.
If you are planning to buy waterfront property, please go to www.WaterFrontBuyersGuide.Info to get a copy of our 14 page eBook waterfront buyers’ guide. This is a custom written eBook that includes lots of local – local waterfront buyer tips to help assure you understand waterfront property pricing and it also includes insights on how to avoid 7 common waterfront buyer mistakes. Again, this eBook is not shoveled over information from other sources. Rather it has been custom written, based on many years of LOCAL waterfront transaction experience.
Examples of why we say waterfront property transaction have lots of very “unique twists and turns”.
Recently a waterfront property seller interviewed several Realtors and chose Steve Huhta and Re/Max Lyons Real Estate to help her sell the property.
When this seller bought the property, just a few years prior, their Realtor explained where he “thought” the lot lines were. An astute potential buyer asked for a survey of my seller’s property and found that there had been a legal dispute and court case back in the 70’s resulting in the seller’s property having 10 less feet of frontage than the current and past owner thought. In other words, this waterfront lot had significantly less water frontage and overall lot size than everyone, including the neighbor, had believed. Yes, even the neighbor did not know she had 10 more feet of water frontage!
We helped this seller get a good real estate attorney, who sorted out the details of this lot line situation. In the end, the neighbor agreed to deed over the 10’ of frontage that both waterfront owners thought my seller owned and, the transaction closed. Yes, this waterfront sale had a very “unique twist” or unique measurement before it got closed.
Waterfront property lot lines go way back, in many case, to the old “fishing shack” days when waterfront owners could build anything, anywhere they wanted. Today, waterfront zoning rules make every foot of frontage and square foot of lot surface area very important. One foot of water frontage on the Chain can be worth about $3,500 to $4,000, according to the township appraisers.
Lesson – always ask for a survey when buying waterfront property and if you are selling waterfront property and there has not been a recent survey, you may want to consider getting one to help prevent issues popping up once a buyer is found.
Waterfront Sellers – Click here to view a list of waterfront seller mistakes to avoid and receive a custom written Waterfront Sellers’ eBook
The State of Wisconsin has passed some very sweeping waterfront zoning changes over the past several years that have drastically affected what waterfront owners can do when building on a waterfront lot or when making improvements to an existing waterfront home. This is why, it is very important to deal with an experienced waterfront Realtor and also, to check for yourself with the local zoning office if you are buying waterfront property and would like to make improvements.
Zoning rules can drastically affect the value of a waterfront property so again, whether you are a buyer or a seller, be sure to use a well-informed waterfront Realtor so you get the best possible avice. Not every Realtor has taken the time to understand the State waterfront zoning rules, as well as, local zoning ordinances and, as a result, may not understand the true value of a waterfront property.