Appraisers' Free Forum

Oh, and by the way, I have screwed up my fair share of lake appraisals before too. It actually took getting the lake bug for me to really understand some of the nuances of these properties (and still don't know them all). I think it should be a speciality, or only tackled by people who have really learned this market, maybe even tailing a Realtor around who is selling these properties. Each lake can well be different. What about an electric motor only lake? It only appeals to a small segment of the market, primarily those who treasure swimming and not getting cut in half by some half wit on a jet ski, or who actually like peace and quiet. Seems most lake people want the busy all sports lakes here in Michigan.

I work 2 lakes. 1 is 50k+ acres with 800+ miles of shoreline, the other is 20k+ acres with 350+ miles of shoreline. I own property on the larger lake, which is a flood control reservoir and fluctuates, so only floating docks, and property is typically above the high flood zone. It by charter is 1/3 developed. 1/3 conservation, and 1/3 recreation/public campgrounds etc. It feeds the smaller lake. The smaller lake by charter doe not fluctuate by more than 1 foot except in case of emergency, so permanent boathouses with permanent water and electricity for boat lifts etc. and is probably 90% develop-able except for some "wetland" type areas etc. Its interesting to learn the differences in market values and motivations on the 2 lakes, since they are side by side. If you ever wonder where I am, look at a map of NC and VA, and there are 2 blue blobs along the border about mid way of the state. My summer/weekend place is on the inside of the elbow of the larger lake.

Sorry, I forgot about this thread. I was busy calling out contingent fee dudes on another forum.

The lakefront property that I appraised is on a lake controlled by the Army Corp of Engineers. They drain the lake annually in the fall, just never this far. Apparently, they released more of the water this year due to the lack of water down south.

Funny thing is that all of the lakefront deeds are bounded by "the water's edge." The lots get bigger in the fall and smaller in the spring. I wonder where the boundary is now!