New Homes Are Being Built On Grand Lake and Maybe It Is Time For You To Build One TooTuesday, October 2nd, 2012
We all read about the gloom and doom of the housing market and it has been bad across our country for several years but there are new signs of life springing up all around in most any state you read about. The same is happening on Grand Lake in NE Oklahoma. For four long years waterfront lots have sat patiently waiting for buyers. The surprising thing is that prices for waterfront lots on Grand Lake have held steady during this time, just slow to no movement. It seems that may change in the next months or year. Why, you may ask? Building has begun on lots previously owned and on the 2-3 lots that have sold in the past year. It is not a big boom but a very significant turn I believe. I had counted at least 12 new homes under various stages of construction from Grove to Monkey Island about a month ago. Since then there have been two more homes started in Grove’s Patricia Island and one in a private area close to Candlewick Resort about five minutes from downtown Grove. On Monkey Island a new home close to the Shangri La Country Club is framed and ready for roof shingles. I have heard there are more but have not seen myself.
What do I think of this activity? I think that if waterfront lot prices have held basically steady without sales for four years that they are not going to get cheaper now with activity starting again in new home construction. We have several waterfront lots for sale in our Grand Lake MLS but when you really look at the waterfront lots for sale on Grand Lake there are not that many choice lots. For instance if you want a waterfront lot in Patricia Island across from the golf course there is one, Grand Lake MLS 12-1231 for $255,000. If you want a waterfront lot with nice views in a nice area close to town and one where you can build an RV or Shop building there may be 2-3 but the only one I can think of right now is Grand Lake MLS 12-11 for $135,000
. If you want a bluff lakefront but have a target price of under $75,000 we have that in Bernice in a nice area of homes, MLS 10-2773 listed at $69,900. Another waterfront lot in the Zena area in a small but nice area with great South Grand Lake water you might like for $82,000 MLS 10-1622.
We also have one of two waterfront lots in Buffalo Shores North available. Our MLS 11-384 is priced at $139,900 and includes a boat dock. What might be the best waterfront lot available on Grand Lake is MLS 12-1230 for $295,000. It is in an area of upscale waterfront homes with 180 degree views looking towards Point Marin or what was the old Shangri La hotel.
Several lots in the MLS to choose from in total as I said but when you break them down as to location, price, area, whether you can have a shop building or not then you can count each segment on 2-5 fingers. My advice, if you want to have a waterfront lot on Grand Lake with very precise target area, price, on so on, I would not tarry. You dream lot might be sold and the next wave of development will surely bring higher prices because of development cost today.
For more information on waterfront lots or homes call the Grand Lake Team at RE/MAX Grand Lake, Aaron Hughes or Joe Neill. For Aaron call 918 801-5645 or Joe at 918 640-3300.