Proof that lake front real estate has jumped the shark

[Mark Perry]

We live on a lake here in Texas about 45 minutes from DFW area. We bought 8 lots along with our house for a bit over 3 acres total. We felt like they were priced low enough that we did not want anyone building near us. The section that is next to ours just had 2 lots come up for sale. We figured we would snag them and if one of the kids wanted to build out here they could have one. We were stunned to find out that since July 2020 when we bought ours that those lots have quadrupled in price. I guess its a good thing for us but I am sure ours will see a tax hike to coincide with the value increase.
Rarely a week goes by that we do not have a developer or realtor stopping by to see if we want to sell any of our lots. We politely decline.

[06 SB]

Come on down to West Point Lake. Lake front homes are mainly around $400K but can be had for less or waaaay more if you like.

[Mark Perry]

Come on down to West Point Lake. Lake front homes are mainly around $400K but can be had for less or waaaay more if you like.

$400K for a nice lakefront here would be a steal.

[Gusman2424]

Half a Million? A bargain for sure.....

Here's a 2.4 million dollar tear down in NH... with probably thousands of dollars for site work to get a dock... never mind a boat hose...

https://www.nhlakesrealty.com/listin...ford-nh-03249/

Cheers...

Gusman

[dbs1]

Buy low, sell high. What goes up, must come down and I think sooner then later we'll be seeing an adjustment.

[posmallie]

The prices you guys talk about are insane. Here in Michigan, unless you are on one of the premier lakes, $400,000 can get you a pretty decent lakefront house, although that has changed a little bit in the last year as prices begin to sky rocket. A few years ago I made some offers on lakefront houses but was not in the greatest financial position at the time and did not get them. I make quite a bit more money today and kick myself. If only I had known my current financial situation, I would have been more aggressive with my offers. I guess I'll just keep saving and hope for another crash.

[Grizzly]

I purchased my lakefront lot in NC for $240,000 about a year ago. I wasn't crazy about the price but the wife loved the lot. It is acually two .7 acre lots next to each other. One waterfront, one not. I have about 3' of water at the end of the dock which is deep enough for any boat to get in just not for swimming although the lady next door says she swims in the lake. I'm not swimming in the lake, I've seen what's in there.

A .7 acre lot which is the third lot down from mine just sold in less than one day for $349,000 !!!! Needless to say I think we made the right choice.

[Javelin389]

Price an acre on Old Hickory. Half a mil might reserve you a spot in line to buy. 1/3 acre lots were going for 400-500K over 10 years ago.

[TroyBoy30]

Sounds like prices on Lanier. We couldn’t even find a fixer upper for less than 600k

[tcesni]

Waterfront lots currently under contract on Lake Conroe, $948,500, $849,000, $799,000, $720,000, $599,900

Conroe is near a huge city whereas SML is the sticks. Good friend of mine has a massive home on Conroe and sells real estate. Big holes in his ceiling after the freeze and burst pipes.

[Gaston Mike]

Today on House Hunters we have Ted and Rebecca, They have no kids, Rebecca is a part time librarian and Ted breeds lizards for a living, Their budget is $3,000,000.

Note, the property directly across the lake (you can even see the $545,000 listing) in the photos is $245,000 but in a flood zone.

I spit my cereal out!

[jbassman87]

Years ago, while striper fishing on Beaver Lake, AR, the guide showed us what he called Walmart row. It was mansions up on a bluff, that were owned by Walmart people. He said there was a few acres (it was either three or six) sold next to them, of uncleared timber land for 3 million.

[OH_Ranger]

Here is some cheap real estate.
https://www.zillow.com/homedetails/1...74017391_zpid/

[TOUCH OF CLASS]

Lake of the ozarks is another crazy place you can’t touch 1/4 acre for under 100,000 if it’s decent

[Mark Perry]

If the grandkids were not so loveable we would have bought our forever home at Fork or one of the lakes in the area. Our money would have went so much farther there. Realoy though we love being so close to our kids and grandkids being here so we have no regrets.

[The Bass Junkie]

Today on House Hunters we have Ted and Rebecca, They have no kids, Rebecca is a part time librarian and Ted breeds lizards for a living, Their budget is $3,000,000.

I have to laugh bc this is sooooo true.

We just had to kick back a loan app turned in from a sales rep over DTI. Some of these people have astronomical mortgages for their incomes.

[fly by night]

We live on a lake here in Texas about 45 minutes from DFW area. We bought 8 lots along with our house for a bit over 3 acres total. We felt like they were priced low enough that we did not want anyone building near us. The section that is next to ours just had 2 lots come up for sale. We figured we would snag them and if one of the kids wanted to build out here they could have one. We were stunned to find out that since July 2020 when we bought ours that those lots have quadrupled in price. I guess its a good thing for us but I am sure ours will see a tax hike to coincide with the value increase.
Rarely a week goes by that we do not have a developer or realtor stopping by to see if we want to sell any of our lots. We politely decline.

Good for you Sir! I respect you not being a money grubber and looking out for your family, shows character! Yes, lake lot prices here are in sane also and mountain land with views are about as bad.

[mean_dean]

Come on down to West Point Lake. Lake front homes are mainly around $400K but can be had for less or waaaay more if you like.

I need to come over there and visit you and have a look around soon!

[larryhyco]

My guess he is right on that figure. Lake front property is through the roof.

[rjvana]

There are lots behind my home that are going for 1.5 M and up crazy but loving it as my home value keep climbing. Good old California.