The question we hear all the time is “Are there still affordable waterfront properties at Lake Anna?” The answer is: Yes…but not easy to find. The proximity to northern Virginia, Charlottesville, Richmond – creates more demand than supply. The Lake Anna real estate market may have 100 waterfront lots or 100 waterfront homes at any given time, but finding one that meets one’s budget and criteria is very difficult. The following is an excerpt from the Lake Anna Real Estate Buyers Guide:
Understanding the Inventory and the value of the Lake Anna market will provide the tools to make the best informed decision. You may learn little compromises that may save you hundreds of thousands of dollars and for the investment-minded folks how to peak your equity through purchasing the right property.
For example, there are currently 80 waterfront homes listed on the market as of January 18, 2017 (see chart on left to see how quickly this number reduces to 2 listings or less with just a few criteria choices).
Anything that hits the market with a view, with the right house on the right lot, and is priced well, will sell almost immediately.
If something has remained on the market for a while, there is a reason. The good news is: if that something is something you can live with, then you can save money. Sometimes, it’s just that there’s a common area adjacent or close to the property or the house is dated, etc. We’ll discuss this more in the Hidden Values section of this guide.
LESSON: The lesson is that we run out of properties quickly once you factor in your preferences. Plus, we haven’t even discussed budget yet…so you need to make sure you’re not wasting your time searching through properties that won’t work for you while the property you would ultimately choose gets sold.