Grand Lake Waterfront Home MarketWednesday, August 24th, 2011
Grand Lake in NE Oklahoma is a wonderful place for your retirement home or weekend home on the lake. The market for waterfront homes has been slow and steady for past years since 2008. Prices stay basically steady and homes move along at a slow but as said steady pace. We have seen no “fire sale” prices but once in awhile you do see a deal.
Deals and prices vary quite abit in price points. There are very few waterfront homes in the $200,000-350,000 price range that do not need considerable updating or structure work. As you move to the $350,000-500,000 homes you will only find a handful to consider and price per square foot will be in the $175-200 range. As you move to the $500-750,000 range the farther up the price pole you go you will get many many more fancy things in the home, a new or very new home with all the bells and whistles as a luxury waterfront home should be. Once in awhile you even find a bargin in this price range. As you move from $750,000 to over one million there again are several homes to choose from. Market for the very upper end range is limited but supply is also limited.
This week amoung all market turmoils, a million plus home went under contract. People are looking for homes. August has seen more people looking than a normal August when hot weather and school starting usually slow traffic in real estate. We have put three waterfront homes and a farm under contract so far in August.
You can find a bargain in any price at some given time. The bargain right now is a 5300+ square foot waterfront home just outside Grove, OK with an ocean like view. This five year old upscale home shows as new. Previous owners traded this home to a bank to get back to another city for one of bank’s repo homes in the city they needed to relocate to. Bank sold home to an investor who now needs to cash out for some reason. This home can be bought today for $695,000 for 5340 square feet m/l. That is only $130.15 per square foot including a lot that has a value of about $250,000 and a nice one slip boat dock. This is an unheard of price. Yes, $695,000 for a home formerly priced in the $800,000’s is still alot of money but if you are in this market, this home is priced $50-80 per square foot under market. This is not our listing but one in our office and on the Grand Lake MLS. Call our team for your showing of this luxury waterfront home on Grand Lake.
If you have interest in a home like this or another type or price waterfront home give the Grand Lake Team at RE/MAX Grand Lake a call. Aaron Hughes at 918 801-5645 or firstname.lastname@example.org or Joe Neill at 918 640-3300 or email@example.com . We know Grand Lake, the Grand Lake MLS, and can help you find just the right place for your needs and desires in whatever target price you wish to be in. We hope to hear from you soon.