Market value of a waterfront home property

Waterfront home incremental market value

I received a call from another agent asking what the incremental market value was of a waterfront or lakefront home versus a similar home not on the water.  In many of the tax records, it discloses a premium paid by the original owners. The initial lot premium for a waterfront lot charged by builders in The Islands and Ocotillo Lakes might range from $30,000 – $45,000, which represented more than 10% of the initial home cost. While the builder was able to charge a premium for the lakefront lot, it would be interesting  to know how  the resale market values a waterfront home.

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Ahwatukee, Chandler & Gilbert Waterfront Property Market Update

Market Update for Chandler, Gilbert & Ahwatukee Waterfront Communities

This week I thought it would would be a good opportunity to pull some waterfront home sales and look at some trends.   I selected lake communities in Ahwatukee; Ocotillo Lakes and  Pinelake Estates in Chandler;  and The Islands and Val Vista Lakes in Gilbert.  These are the larger and more recognizable lake communities in the east valley.

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Ocotillo Lakes – The jewel of Chandler Waterfront Community Homes

Chandler Lakefront Luxury Homes

For over a decade, the Ocotillo Lakes area in Chandler has been home to some of the most cherished Chandler subdivsions and waterfront homes.  With such employers as Intel, Orbital, and Motorola and other semi-conductor companies, Ocotillo Lakes provides a short commute, highly rated schools and well manicured homesites.  Ocotillo lakes includes 167 acres of interconnected lakes and waterfeatures.

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Ocotillo Lakes resident interviewed by national real estate website

Relocation clients make their home in Ocotillo Lakes      

When the assistant editor of FrontDoor.com, which is sponsored by HGTV, contacted me wanting to interview a client that had purchased a Phoenix waterfront home, I knew Kim would be a perfect candidate to articulate the desireability of a waterfront home.  Their family had relocated from California for a job transfer.  It became apparent very quickly that in addition to a desireable floorplan, good schools and accessibility to shopping and freeways, a waterfront home in Ocotillo Lakes was at the top of the list.

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