Home Buying in 01056>Question Details

Bryan, Home Buyer in Ludlow, Massachusettes

How much more is a value of a water front land in Ludlow, Massachusettes?

Asked by Bryan, Ludlow, Massachusettes Wed Jul 18, 2007

Help the community by answering this question:


Deborah Deschamps’ answer
Traditionally, buyers will pay a premium for two things - a view, and waterfront. It's hard to put a dollar value on how MUCH more a property is worth for having those things, since so many details come into the factoring of value. But if you have a specific property in mind, and you want a market analysis, email me directly at DeborahSellsHouses@verizon.net, or feel free to call me at 413-530-8356 and we can talk about it.

Thanks and good luck
Deborah Deschamps
Carlson GMAC, Wilbraham, Ma
0 votes Thank Flag Link Wed Feb 24, 2010
Hi Bryan:

As all the agents answered, there is no right or wrong answer. It depends on how important it is to the buyer. Just like a pool, that could be an insentive for one buyer, but not for another. The answer really is it's worth as much as a buyer is willing for it..
Best of Luck!
Web Reference: http://www.WinsorRealty.com
0 votes Thank Flag Link Wed Feb 24, 2010
Hi Bryan - that's a tough one, because it depends on the sized of the lot, how much water frontage there is, and what body of water it is, and whether or not there's sandy beach, etc. etc.
0 votes Thank Flag Link Mon Aug 24, 2009
Hi Bryan,

Per the MLS: Current waterfront listings are averaging $214k and listings that are not waterfront are asking about $204k, which is about a 5% difference in value.

Melissa Mancini, Realtor, CBR, GRI
0 votes Thank Flag Link Tue Jul 24, 2007
Hi Bryan.

In a perfect world, the best way to determine the value of 'waterfront' is to do a paired-sales analysis. Find some properties that are as similar as possible in every way - with the exception of the waterfrontage. Determine what the difference in price is and that will answer your question. The more examples that you find the better the analysis.

It's not a perfect world, so you must take time into effect, of course. Oh, and if you are not on the same body of water, you'll have to adjust for that. Oh, and in some cases, there are more desireable locations on the water. Oh, and then there's the amount of water frontage. Oh, and then there are market trends...

My point is: It is not an easy answer.

A local Realtor that has a sold a fair amount property, in addition to waterfront property, in the area (and better yet, on the specific body of water) over the past several years would be your best source of information. He or she should have the information that is needed to "fill in the blanks" of the paired sales analysis - as there will most certainly be many.

Whether buying or selling waterfront property, just remember: They aren't making any more of it. :)
Web Reference: http://www.REALTYMAN.com
0 votes Thank Flag Link Thu Jul 19, 2007
You would have to find the location against other area homes...some waterfront is beautiful while others are just small ponds that don't add much value in fact may take away some value....
Web Reference: http://www.jaymchugh.com
0 votes Thank Flag Link Thu Jul 19, 2007
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