While the simple answer is "of course that can't be true! A 100 feet of lakeshore with a mansion most certainly will sell for more than that same 100 feet with a shack!" The deeper question is where do you hear the $2500 per foot of lakeshore? You hear it when talking about a comparison between two similar homes. If two homes are similar and one has 100 feet, the other has 90, the reality is that all things being completely equal, the home with 100 feet should sell for more than the one with 90. Would it sell for $25,000 more? That's where you have to put the theory to the test. Really, the cost per linear foot of lakeshore is not an absolute, bankable number, but instead a guide, for preparing a comparative market analysis, or even an appraisal, between the subject property and other similar, yet never identical, properties.
If you need a CMA of a property you're considering selling or buying, I'd be happy to provide one.
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