The best part about selling only lakefront homes is that no two are the same. The hardest part about placing a value on lakefront homes is that no two are the same.
Lake home appraisals, by their very nature, are complex. There is a lot that needs to be considered, and different areas of the country face different influences. As the saying goes, they just don’t make waterfront property anymore. As a result, water frontage is very likely to boost a home’s value to some degree relative to non-waterfront homes. But this waterfront premium varies across the country, and it can be difficult to put a precise number on how much more home buyers end up paying for waterfront properties.
Automated Valuation Models – or “AVMs” – can be a valuable tool for buyers & sellers…but they are notoriously inaccurate for certain types of homes…especially lakefront.
AVMs cannot account for all the variables that accompany unique locations, especially the details of the lake itself. We consistently find them to be off by 10% to 50%.
So if you’re a seller trying to get a feel for your market value, or a buyer looking to make an offer on your new dream home, give our calcuLAKEr a try. It takes the lakefront location into account and provides the current market value calculation for ANY lakefront home.
Give it a try here: http://www.lakefrontliving.com/calculaker/
Posted by Scott Freerksen “The Lake Guy”