There are a number of waterfronts holding onto some unrealistic prices for our current market. However, for those that have adjusted there prices to our market, 23 have SOLD in just the past 6-months of this year.
Since January 1,2010 there have been 23 SOLD / Pending Sale Waterfronts in the Lake CDA and Hayden Lake area (not counting the St.Joe, St.Maries, CDA River, etc). Prices ranged from $200,000 to $3,000,000. This is quite a change from the previous few years!
As more of these strategically priced properties sell, those Higher priced ones will be forced to price accordingly. Over the next few months I am sure we will see an equal amount or possibly more of SOLDS/Pending Sales. I have recently SOLD and put several into escrow. The buyers have been watching the market. They felt this is the right time to jump in and negotiate a great waterfront deal! Especially with the interest rates dropping back into the 4% range.
Those that don't put a competitive price on their waterfronts right now, are in for a much longer ride.