Logan Martin Lake Topics: Opinion for Jawjagal
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Name:
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Osms
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Subject:
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Opinion for Jawjagal
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Date:
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8/26/2006 3:05:23 PM
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You've already got two valid opinions, but, of course, I 'll be happy to add a third. The neighborhood matters a whole lot in the value of property on the lake. My reference was the Ridge, or it could be any of the Russell projects. Curb and gutter, central sewer, strong covenants, equal value homes all add to the value of a neighborhood and a lot in that neighborhood. My statement to Maverick was that he couldn't count on Ridge prices if his area doesn't offer Ridge amenities.
Lifetime Laker brings up the value of good maintenance which is just as important as the above features. Don't think you would want to pay $500k for a lot next to a trailer, or a lot with 12 -15 old boats stored there, or next door to Chuck's or any other commercial.
A factor that will come more into play is the buying of the older cabins, destroying the cabin and building a bigger, better place. The very best lots on the lake are the oldest houses, so you are going to see transitional neighborhoods just like you do in ATL. The early buyers will be taking a chance by upgrading, but the late buyers will pay a premium.
You've been in real estate--I don't think the lake is unique in this aspect.
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