I hope that some of you had the opportunity to see the lake during this beautiful autumn season. Even with the bizarre weather this summer, the foliage was absolutely gorgeous this year! If you did make it to the lake, I hope you are as excited as I am about all of the new commercial choices we have.
I try to make it a daily regimen to stop at Food Lion, even if just for a banana or an apple. It’s awesome to have that option on my way to and from work every day! If you haven’t made it to the lake recently, here’s what you’re missing; we now have an ABC Store, Allys, Asian Café, Big Cheese Pizza, Chameleon & Co. Salon, Chef Lees, Fishers Fitness, Kara Nails, Island Mochas, Lake Anna Veterinary Hospital, and Subway. All of this is centrally located within one mile of the 208 bridge (on the Louisa side of the lake). Another commercial location named The Boardwalk, located on 522 on the Louisa side of the bridge that divides Louisa and Spotsylvania counties, was scheduled to open before this summer but construction was delayed. At that location, they report leases with a gift shop called Wake Edgers which should be open by mid November. Tim’s Rivershore Restaurant and an ice cream shop will both open next spring.
NEW SUBDIVISION UPDATE - LAND
*Cutalong golf course community:Roads are under construction in the Estates section where lots are recorded and available for sale. Lot sizes range from 4.5 to nearly 9 acres. Prices start from $169,900.00 and include a covered slip at the Yacht Club at the 208 bridge. Reservations are available for Phase II for smaller properties near the 11th and 13th holes. Those properties start from $59,900.00.
*Noah’s Landing:Dredging in the main common area is complete. The Developer will be placing $120,000 into an escrow account this month specifically for common area improvements. An additional $150,000 will also be placed in escrow from the next lot sale. These funds will be earmarked to build the Southern-most 21 slips (with electric lifts and lighting), bring the common area to final grade, provide parking, easier access to the boat launch, and hopefully finish the 100’ beach. Owner financing may be available on some lots. Homes construction has been great in Noah’s this year and both the size and quality of the homes would argue the existence of any economic issues. This is a great time of year to shop for lots. As the leaves fall, the topography can be more easily seen and explored.
*Mill Run:Permits have been approved for the construction of the first 32 covered boat slips. Construction will begin in November. Paving of all subdivision roads is complete. There were 4 new construction starts this year. This development was begun in 2009 and as you drive through this area you will see the quality and commitment of its developer. Waterfront Lots are priced from $225,000.00 and water access lots start at $55,000.00. A few select access lots also enjoy a view of Lake Anna. Both Access and view lots are priced with an assigned boat slip. Both the developer of Noah’s Landing and Mill Run are running an end-of –season incentive for buyers. In addition to lot sales, both of these communities also offer several “to-be-built” homes. Floor plans are available upon request.
RESALE HOMES AND LOTS
In addition to these new developments, there is also a fabulous selection of resale lots in the market place. I have seen some incredible buys on existing homes this year as well. It continues to be a stellar time to be a buyer and our continued good luck with interest rates certainly won’t last forever. Below you will find my annual 2 year comparison in sales at the lake. I hope you will find it helpful, whether you are buying or selling. Please take a moment this season to leave your home and “fall” in mine.
See you at the lake!!
Lake Anna Sales - 2 year comparison**
Water Access Lots
- Average List Price $ 55,288.00 $ 59,241.00
- Average Sales Price $ 48,865.00 $ 51,701.00
- Average Days on Market 220 291
- Total units sold 23 27
Total Volume $1,123,900.00 $1,395,930.00
Water View Lots
- Average List Price $ 69,133.00 $ 92,367.00
- Average Sales Price $ 64,333.00 $ 80,400.00
- Average Days on Market 129 393
- Total units sold 3 6
Total Volume $ 193,000.00 $ 482,400.00
Average List Price $ 354,605.00 $ 270,862.00
Average Sales Price $ 324,200.00 $ 244,865.00
Average Days on Market 287 227
Total units sold 20 26
Total Volume $ 6,484,000.00 $ 6,366,500.00
Water Access Homes
Average List Price $ 226,368.00 $ 256,474.00
Average Sales Price $ 215,025.00 $ 245,790.00
Average Days on Market 199 144
Total units sold 57 69
Total Volume $12,256,400.00 $16,959,500.00
Water View Homes
Average List Price $ 280,210.00 $ 284,251.00
Average Sales Price $ 265,825.00 $ 275,585.00
Average Days on Market 190 145
Total units sold 10 20
Total Volume $2,658,250.00 $5,511,700.00
Average List Price $ 569,294.00 $ 632,426.00
Average Sales Price $ 540,438.00 $ 601,311.00
Average Days on Market 167 195
Total units sold 41 62
Total Volume $22,157,980.00 $37,281,300.00
Total Combined Units Sold 154 210
Total Combined Volume $44,873,530.00 $67,997,330.00
** All data compiled from the Metropolitan Regional Information System. All figures have been rounded to the nearest dollar. 2010 stats are for January 1st through December 31, 2010. 2011 stats are from January 1st through October 30, 2011 All references to “Average List Price” refer to the list price of the property when the contract was executed not the original list price.