Lakefront Property For Sale
Lakefront Questions and Answers
Discussion on Lakefront Values
Lakefront Property for sale
People are always asking me, "briefly, what Lakefront properties do you have available right now?" In a nut shell here is what is for sale right now in Okanogan County that is Lakefront:
For all of the other listings go to www.lfr123.com/listing
| Lake | Price | Acreage | LK amt | website | |
| Osoyoos | $825,000.00 | .39 | 123' | www.lfr123.com/hallauer |
| Osoyoos | $795,000.00 | .70 | 85' | www.lfr123.com/swanton |
| Blue | $279,000.00 | 3.24 | 236' | www.lfr123.com/bluelake/lot1 |
| Blue | $314,000.00 | 3.42 | 200' | www.lfr123.com/bluelake/lot3 |
| Blue | $300,000.00 | 3.64 | 240' | www.lfr123.com/bluelake/lot4 |
| Blue | $286,000.00 | 5.76 | 266' | www.lfr123.com/bluelake/lot9 |
| Wannacut | $189,000.00 | 5 | 206' | www.lfr123.com/wannacutlake/lot3 |
| Wannacut | $209,000.00 | 5 | 239' | www.lfr123.com/wannacutlake/lot4 |
| Wannacut | $129,000.00 | 20 | 349' | www.lfr123.com/wannacutlake/lot5 |
| Wannacut | $169,000.00 | 5 | 239' | www.lfr123.com/wannacutlake/lot6 |
| Wannacut | $169,000.00 | 20 | 201' | www.lfr123.com/wannacutlake/lot7 |
| Wannacut | $185,000.00 | 5 | 229' | www.lfr123.com/wannacutlake/lot8 |
| Wannacut | $229,000.00 | 5 | 220' | www.lfr123.com/wannacutlake/lot9 |
| Wannacut | $199,000.00 | 5 | 203' | www.lfr123.com/wannacutlake/lot11 |
| Wannacut | $199,000.00 | 5 | 214' | www.lfr123.com/wannacutlake/lot12 |
| Wannacut | $179,000.00 | 20 | 222' | www.lfr123.com/wannacutlake/lot13 |
| Wannacut | $169,000.00 | 20 | 273' | www.lfr123.com/wannacutlake/lot15 |
| Wannacut | $194,000.00 | 5 | 200' | www.lfr123.com/wannacutlake/lot20 |
For all of the other listings go to www.lfr123.com/listing
Comparable Market Analysis
I recently had a client interested in finding out how I valued property on Lake Osoyoos because all of the other agencies had priced the properties with no continuity. So I showed them the correct way to value properties on a specific body of water. This is how I do it, first I locate the three highest valued comparable sales. (Here are the highest sales as of 09/14/2008, these will be good for another 3 months)
Comparable #1
Sale Price: $999,900.00
Sales Date: 07/15/2008
Improvement Sq Ft: 1622
Acreage: 0.08 acres
Address: Veranda Lot #82
New Owner: Kennedy
Tax Parcel ID #9105008200
Amount of Lakefront: 75'
Comparable #2
Sale Price: $890,000.00
Sales Date: 06/06/2008
Improvement Sq Ft: No Improvements
Acreage: 0.50 acres
Address: 19 Champerty
New Owner: Gallagher
Tax Parcel ID #4780110000
Amount of Lakefront: 140'
Comparable #3
Sale Price: $750,000.00
Sales Date: 07/16/2008
Improvement Sq Ft: No Improvements
Acreage: 0.16 acres
Address: Veranda Lot #111
New Owner: Kosior
Tax Parcel ID #9105011100
Amount of Lakefront: 72'
In this example here is a property we will value based on the above comparables:
Subject Property
Sale Price: To Be Determined Below
Sales Date: Not sold yet
Improvement Sq Ft: 3500
Acreage: 0.70 acres
Address: TBD
New Owner: "Alex"
Tax Parcel ID #TBD
Amount of Lakefront: 100'
New construction value on Lake Osoyoos is currently running $200.00 per square foot. I am assuming your property improvements have depreciated approximately 50%.
The depreciated value of the home separately would be: $350,000. (3500 sq ft home)
All other comparable properties have water and sewer so we won’t adjust for these improvements.
Comparable #1 Improvements: $324,400.00 No depreciation (brand new house) leaving Land value at $675,500.00
Comparable #2 Land Value: $890,000.00
Comparable #3 Land Value: $750,000.00
The first thing we do with valuing land is to give the non-lakefront portion of the land value. Based on comparable sales we would give the non-lakefront portion value at $125,000. per acre.
Comparable #1 Land Value Non-lakefront: $125,000.00 X .08 acres = $10,000.00 Then you would subtract $10,000. from $999,900.00 leaving $989,900.00 then subtract the improvement value (above) $324,400.00 equals $665,500. to calculate lakefront value. Then $665,500.00 divided by 75’ equates to $8873.33 per lineal foot.
Comparable #2 Land Value Non-lakefront: $125,000.00 X 0.50 = $62,500.00 Then you would subtract $62,500. from $890,000.00 leaving $827,500.00 to calculate lakefront value. Then $827,500.00 divided by 140’ equates to $5,910.71 per lineal foot.
Comparable #3 Land Value Non-lakefront: $125,000.00 X 0.16 = $20,000.00 Then you would subtract $20,000. from $750,000.00 leaving $730,000.00 to calculate lakefront value. Then $730,000.00 divided by 72’ equates to $10,138.88 per lineal foot.
Taking these three per-lineal-feet figures and adding them together then dividing them by three gives us an average per-lineal-foot figure.
The average per lineal foot price is $8307.64 based on these figures.
Now we reconstruct the subject property as follows:
Non Lakefront land value: $125,000. X .70 acres equals: $87,500.00 We have already established the improvement values at: $350,000.00 The per lineal lakefront value is $8307.64 per foot X 100’ equals $830,764.00 Leaving the actual Value based on Comparable sales in the last 6 months at: $1,268,264.40
I specialize in Lakefront sales and I would love to market your property for you, let me know if you would like to list your property! To see the properties I have sold in the last 3 years go to:
Ryan's Sales
To see the properties I currently am actively marketing go to:
Ryan's Listings
To see information on the lakes in our area go to:
The Lakes of Okanogan County
-Ryan
Comparable #1
Sale Price: $999,900.00
Sales Date: 07/15/2008
Improvement Sq Ft: 1622
Acreage: 0.08 acres
Address: Veranda Lot #82
New Owner: Kennedy
Tax Parcel ID #9105008200
Amount of Lakefront: 75'
Comparable #2
Sale Price: $890,000.00
Sales Date: 06/06/2008
Improvement Sq Ft: No Improvements
Acreage: 0.50 acres
Address: 19 Champerty
New Owner: Gallagher
Tax Parcel ID #4780110000
Amount of Lakefront: 140'
Comparable #3
Sale Price: $750,000.00
Sales Date: 07/16/2008
Improvement Sq Ft: No Improvements
Acreage: 0.16 acres
Address: Veranda Lot #111
New Owner: Kosior
Tax Parcel ID #9105011100
Amount of Lakefront: 72'
In this example here is a property we will value based on the above comparables:
Subject Property
Sale Price: To Be Determined Below
Sales Date: Not sold yet
Improvement Sq Ft: 3500
Acreage: 0.70 acres
Address: TBD
New Owner: "Alex"
Tax Parcel ID #TBD
Amount of Lakefront: 100'
New construction value on Lake Osoyoos is currently running $200.00 per square foot. I am assuming your property improvements have depreciated approximately 50%.
The depreciated value of the home separately would be: $350,000. (3500 sq ft home)
All other comparable properties have water and sewer so we won’t adjust for these improvements.
Comparable #1 Improvements: $324,400.00 No depreciation (brand new house) leaving Land value at $675,500.00
Comparable #2 Land Value: $890,000.00
Comparable #3 Land Value: $750,000.00
The first thing we do with valuing land is to give the non-lakefront portion of the land value. Based on comparable sales we would give the non-lakefront portion value at $125,000. per acre.
Comparable #1 Land Value Non-lakefront: $125,000.00 X .08 acres = $10,000.00 Then you would subtract $10,000. from $999,900.00 leaving $989,900.00 then subtract the improvement value (above) $324,400.00 equals $665,500. to calculate lakefront value. Then $665,500.00 divided by 75’ equates to $8873.33 per lineal foot.
Comparable #2 Land Value Non-lakefront: $125,000.00 X 0.50 = $62,500.00 Then you would subtract $62,500. from $890,000.00 leaving $827,500.00 to calculate lakefront value. Then $827,500.00 divided by 140’ equates to $5,910.71 per lineal foot.
Comparable #3 Land Value Non-lakefront: $125,000.00 X 0.16 = $20,000.00 Then you would subtract $20,000. from $750,000.00 leaving $730,000.00 to calculate lakefront value. Then $730,000.00 divided by 72’ equates to $10,138.88 per lineal foot.
Taking these three per-lineal-feet figures and adding them together then dividing them by three gives us an average per-lineal-foot figure.
The average per lineal foot price is $8307.64 based on these figures.
Now we reconstruct the subject property as follows:
Non Lakefront land value: $125,000. X .70 acres equals: $87,500.00 We have already established the improvement values at: $350,000.00 The per lineal lakefront value is $8307.64 per foot X 100’ equals $830,764.00 Leaving the actual Value based on Comparable sales in the last 6 months at: $1,268,264.40
I specialize in Lakefront sales and I would love to market your property for you, let me know if you would like to list your property! To see the properties I have sold in the last 3 years go to:
Ryan's Sales
To see the properties I currently am actively marketing go to:
Ryan's Listings
To see information on the lakes in our area go to:
The Lakes of Okanogan County
-Ryan