June 21, 2024

Waterfront in Any Weather

By Barbara Raley
Realtor
Leading Edge
www.BarbaraRaley.com

There is never a bad time to sell a waterfront home. Not hurricanes or earthquakes or even landslides dampen the waterfront property market across the globe. In fact, even a dampened real estate market is cushioned in waterfront communities.

Writing about the three most important elements of real estate, “location, location, location,” Marilyn Lewis of MSN Money compared waterfront to inland properties in a severely depressed Florida of a few years ago. Comparisons by a credentialed appraiser in Punta Gorda, Florida found sales of equal size and quality were 10 percent higher in the waterfront Punta Gorda Isles than the nearby inland development Deep Creek.

Prime location combined with limited availability makes waterfront property a perennial best seller which pretty much means for waterfront property owners it is always a seller’s market.

Maryland has gone further in limiting the available waterfront property than nearly anywhere else in the nation. Following a procedure inaugurated in Boulder, Colo., Maryland enacted laws in the 1980s that established a finite number of waterfront properties in the state. While criticized for adding to the cost of building along the shore, these protective laws in Maryland also increased the value of these properties by setting a limit on how many could be developed.

As in Boulder, where local officials set limits on how many homes and businesses could be constructed within the corporate boundaries, prices of the affected Maryland properties rose as well.

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With interest rates at historic lows, waterfront homeowners are finding 2011 a good time to sell since buyers able to afford more for their money.

To contact Barbara Raley for more information on buying or selling a home in Southern Maryland.

Mobile 301-904-2172
Office 410-394-0990
Fax 410-394-0991
www.barbararaley.com

 

 

 

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