Oak Mountain Lake Topics: Help on property value

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	Name:	John C -
	Subject:	Help on property value
	Date:	2/15/2007 3:04:03 PM

I think it's very hard to make broad assessments in our market because it includes properties that aren't on the Lake. In the summer of 06 I did a study looking at 4 or 5 waterfront properties (lots, houses, & condos) that have sold multiple times during the time period of 2000 to Summer of 06 and the average annual gain was about 30%. Granted, that was during one of the biggest run ups in real estate history, so I certainly would not expect that trend every year. Looking at activity in the past 12 months, I think it has been more like 20%. Generally speaking, looking at the market over 30 years, I think it is safe to say that Lake Martin property has appreciated at a rate that would beat the S&P 500 90 year average of 11%. I agree with earlier posts that the best way to estimate value is to go by comparable sales, not apply rules of thumb.