Friday, September 11, 2009

Is now the time to buy lakefront property?

My family and I love the lakes in Cherokee Village. Being an avid water skier, I find Lake Thunderbird ideal for water skiing, teaching kids to ski, as well as pulling kids all over the lake tubing! Cherokee Village, Arkansas lakefront property is in one word, fun! On any nice day, you will find boats out on the lakes fishing, skiiing, tubing, or just having an enjoyable cruise. We have created memories on these lakes that my kids will never forget. If you can't tell by my excitement, then let me show you some properties to help you create memories for many years to come. Now may be one of the greatest times to buy lakefront in quite awhile, but there are many things to watch out for and consider when looking into this unique type of property.

While no agent should claim to have that proverbial crystal ball, nationwide many agree that the market may be leveling out. Many others think we’re at the bottom now or very close. I don’t know if we’re at a bottom nationwide or not, but I’m watching the numbers like everybody else. How that affects Arkansas, one never knows, but with a down economy continuing nationwide and the summer season beginning to wind down after Labor Day, deals should be able to be found. If you are seriously considering Arkansas lakefront property, contact me and I'll show you why I love the lakes of Cherokee Village.

My theory for real estate is that lakefront property is most always a good buy. In fact, lakefront property is one of my favorite types of properties and I will be very happy when someone finds a property that fits their needs, because I know of all the memories they are going to make for themselves with that piece of lakefront they will call their own.

What are some good tips to buying a lakefront property? Lakefront property is generally a more expensive option than property away from the lake. But with a recession creating better deals all around the country by people pulling back and taking the "wait and see" approach, and the fact that interest rates are still very low, finding and securing that piece of lakefront should not be that difficult at all.

Lakefront property shouldn't be that desolate and totally away from civilization. Many lakefront offers you see these days in the southern United States are miles away from the closest town and still in the development stage. I have received in the mail dozens and dozens of such offers from developers in Georgia, Alabama, Mississippi, Tennessee, Kentucky, North Carolina, and South Carolina all offering deals on lakefront property in their new development. Most of these developments are nowhere near a town, schools or shopping, and most are still in the beginning stages of development. The lakes in Cherokee Village are inside the city limits and a short drive to Town Center, and a short drive to the main highway with shopping and groceries. Why wait a few years to see the development fully built, see your first neighbor, or drive miles and miles to the nearest grocery store, when Cherokee Village is already an established community with all of that already in place?

Try to find a lakefront property near other recreational activities. Cherokee Village has two golf courses each within a few minute drive of any lakefront home. Lakefront homes in Cherokee Village are very short distances from some of the finest outdoor activity Arkansas has to offer such as canoeing on the nearby Spring River, hiking all over the Ozarks, and camping in many campgrounds and parks all over northern Arkansas.

The cost of lakefront property will depend on many variables, one being the quality of the water itself. Did you know the lakes in Cherokee Village are spring fed, very clean, and rarely fluctuate more than a few inches? When you purchase this kind of property, you have to check into many issues. Are you allowed to build a dock on that particular piece of property? Just because the lot next door has a dock doesn't mean the lot you are considering is allowed to have a new dock put in. Is the lake you are looking at under the control of the US Army Corps of Engineers? If so, there are stringent rules and regulations about how you can use your lakefront and it would be advisable to check into how often they lower the lake and how much the water level fluctuates every year.

All of these factors are very important when considering lakefront property. Cherokee Village lakes are private to property owners and their guests, so these US Army Corps of Engineers issues are not a problem. Most every lakefront lot in Cherokee Village has the ability to have a dock put in, however, you must first check with the Cherokee Village SID for what can and cannot be done with the particular lot you're interested in.

Other issues you will want to consider are: Is the water polluted? How deep is the lake? How is the fishing? Does the lake get stocked? What are the zoning regulations? Is there camping allowed on the lot next door to the lot I'm considering building my dream home on? What about mobile homes? The zoning in Cherokee Village allows no camping or mobile homes on the lakefront, but these are examples of some of the factors that should be taken into consideration when looking for lakefront property.

Lastly, there is only so much quality lakefront property. In any community, there are vastly fewer available lots and homes directly on the lake than there are off the lake. As these fewer and fewer lakefront lots get built upon, what remains may be costlier in the future for those looking for their slice of life on the lake.

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