East Valley Water Ski Lake Communities
Gilbert is home to three water ski communities; SanTan Lakeside Estates, Crystal Point and Playa Del Rey Estates. Nestled at the foot of the San Tan mountains is San Tan Lakeside Estates, home to the most expensive luxury water ski homes in Phoenix.
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Boating on Phoenix Residential Lakes
A common question I receive about waterfront property is,”Can I boat on the lake?” Many waterfront owners want to use a pontoon boat or a kayak and enjoy boating from a dock in their backyard in the desert! Some may not. A previous post discussed how to determine if a lake allows boating. Now let’s take it a step further and list the best residential lakes in Phoenix for boating.
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Gilbert Waterfront and Lake Communities
Gilbert Arizona continually ranks high as a preferred Phoenix suburb. For those with an eye for waterfront homes, it also draws their attention since Gilbert has more lake communities than any other Phoenix city except Chandler. Gilbert offers a range of waterfront opportunities that includes townhouses, single family dwellings, water ski and wake board property and lakes that allow pontoon boats and canoes.
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Determining if a Phoenix lake community allows boating
One of the most frequently asked questions I recieve is “Does this lake community allow boating?” The second most frequent question is “How big is the lake?” We’re going to answer both of these questions. Previously, I’ve attempted to make a list of lakes where boating, kayaking, and canoeing are permitted and which lakes are larger and more conducive to boating. I’m going to share some tools with you so that you can answer these questions.
Waterfront land and lots in Phoenix
Sometimes a resale is just not what a waterfront home buyer is looking for. This leads to the question, “What waterfront lots are available?” There are two paths to go down. Find a waterfront lot that allows a custom home or look for a newer lake community that still has lots available and find out if the builder has any lakefront lots available to build one of their floor plans.
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2010 Phoenix Water Ski Community Sales
In any given month, distressed sales (foreclosures,short sales, or trustee sales) account for over 50% of the total sales in most all of the Phoenix valley cities. Ski lake properties have been somewhat insulated from this type of transaction, but during 2010 distressed sales have increased in these unique waterfront communities. Three of the Phoenix ski communities had no recorded sales of any kind in 2010. All sales during the year ocurred in Gilbert ski lake communities; Crystal Point, Santan Lakeside and Playa del Rey Estates. 33% of those were distressed sales.
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Sometimes you swear at them and sometimes you swear by them
Let’s face it, if you are considering purchasing a home in the Phoenix area; whether it be Avondale, Scottsdale, Gilbert, or Gold Canyon, you will have to come to terms about buying a home that is part of a Home Owners Association. When a buyer purchases property that has an HOA, they automatically agree to abide by the governing documents which are the CC&R’s; Conditions, Covenants and Restrictions. While many CC&R’s are typically very boiler plate, it is a good idea to review them and make sure there are no hidden surprises. Even better, talk to your future neighbors and inquire about their experience.
If you are looking to speak out against HOAs, you’ll have plenty of company because at times they do some pretty dumb stuff and deserve the criticism. At the same time, attend any of the regularly scheduled meetings and see how many residents come to participate, offer suggestions and be involved. That number is in the single digits and I’m estimating on the high side. If residents are concerned or upset, they should get involved, contribute, and help shape the neighborhood. I’ve gotten a little upset over a couple of letters I received that I thought were unneccesary, but I also remember being thankful when a neighbor’s mother came to visit for a while in her aged travel trailer that was definitely an eye sore! I’m glad they did the dirty work of letting the neighbhor know that is not allowed. Like I said, sometime you swear at them and sometimes you swear by them. For a more legalistic viewpoint, here’s a link to a website explaining homeowner’s rights.
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Recent waterski lake property sales activity
A Phoenix water ski home or lot is a unique type of Arizona real estate. Man made with one of Arizona’s most precious resources there are only 6 water ski communities in the valley. Ready for some Phoenix water ski real estate trivia? How many waterski homes / lots are there in Phoenix? See the answer at the end of this post. Right now we’re going to look at a recap of the activity and sales of homes and lots during 2009 and year to date in 2010.
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New REO lot comes on the market in Santan Lakeside Estates and sells in 1 month
Lot 17 on the west side of the ski lake at Santan Lakeside Estates just came on the market the last week of February bringing the total lots for sale to 3. The other available lots are 3 and 17. Many water ski enthusiasts and owners will be watching this specific transaction as it will aid in determining the current market value of a Phoenix valley water ski lot. So how did they set the list price for this ski lake lot at $340,000? My opinon? You have to go back to 2009 when lot 13, previously a bank owned lot was initially listed for $480K. After periodic price reductions that are consistent with bank owned property, the list price eventually reached $399K, an offer for $340K was accepted and closed in August 2009. When that is the only comparable sale, it makes sense to use it! Getting back to lot 17; a couple of early offers were received within days of being listed, but considered too low by the bank. Time will tell as the ski season approaches and the bank watches the days on market increase , and periodically considers price reductions. See sales update further down in article.
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