Thursday, February 14, 2008

Lake Front and Water Front Property-Recession Proof!

MSN Money article addressing what makes a home recession proof....Answer: Waterfront property. Of course there are areas on the water that are declining, Michigan, Florida, California, etc. However Waterfront will fare much better than the inland properties across the board.

"Take Punta Gorda, Fla., where, at this very moment, house prices are sliding so fast you can almost hear them sink.

"Everything is depreciating," says Cady Rowe, an agent with Coldwell Banker Morris Realty in Punta Gorda. However, Rowe adds, how deeply your price depreciates depends on where "your dirt" is.

"If your dirt is sitting in Punta Gorda Isles on the waterfront, it's going to be worth a lot more than dirt somewhere else with a thousand lots just like it," Rowe points out"

This is one of the many reasons why was established. Even in our worst drought on Lake Lanier, the Lake homes are holding their own on values. Buyers and sellers realize even more, the importance of finding an Appraiser who understands the value of the Lake or Waterfront sites or "DIRT" with and without water!!

So "come on board", be the expert on your Lake and take advantage of this niche market. It is so much more interesting to appraise a Lake or Waterfront property than what we call in the business.... "cookie cutter" homes!

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