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#458147 - 06/19/17 11:49 AM Comps for Lake Front versus Lake View and/or reg comps.
cholley62 Offline
Junior Member

Registered: 06/19/17
Posts: 2
Loc: TX - Texas
I am trying to figure out the comp processes on the Lake front versus Lake view and/or reg comps. I find here in East Texas, lake front is high than the comps bring up. I had a home that was lake front, I took the highs comps and came up with (lets say) 490,000. I guess the question I have; Do I add an additional 20% to this comp or is running comps the same no matter?

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#458148 - 06/19/17 12:55 PM Re: Comps for Lake Front versus Lake View and/or reg comps. [Re: cholley62]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7837
Loc: Vermont's North-East Kingdom
I don't know whose QA you're trying to satisfy; but most of them know that "Lake Views" and "Lake Access" are just a poor man's substitute for owning actual waterfront.

If just adding a 20% premium would be a likely increased value in your area, then that may fly; but that wouldn't be a very valuable body of water.

Still, you'll probably be required to provide evidence in the form of at least one SOLD Comp (probably two) with actual frontage, even if you have to increase the time horizon beyond a year.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#458153 - 06/20/17 01:05 AM Re: Comps for Lake Front versus Lake View and/or reg comps. [Re: cholley62]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2266
Loc: Outer Banks
I feel sorry for the lake front owners. Their property values are being negatively affected by an agent who knows nothing about the neighborhood values just so an the agent can make $50.00
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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