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Claytor Lake Real Estate & Info
Claytor Lake
The new year has started fairly strong for Claytor Lake. Our office has two waterfront homes under contract and several showings on others. I do think we are very close to the bottom on pricing. I say that by not judging the economic environment (I don't think anybody is that good!) but merely from a standpoint that sellers are simply not going to go much lower. 2011 proved to be one of the slowest years on record for waterfront sales. Claytor is now experiencing more realistic pricing from serious sellers which should lead to increased sales in the future. Now is not the time for "wish pricing"!
From the year 2000 to 2007, Claytor enjoyed exponential growth in pricing (actually unrealistic appreciation) and then someone turned off the faucet and the bucket went dry - pricing had become too high for the older homes on this small, but beautiful lake. Understanding the lake market at Claytor is critical to saving you time, money, and heartache. Here are some general guidelines for Housing at Claytor: 1. You may be able to find a small waterfront cabin that would be a fixer upper under $250,000. Although, very few have entered the market in the last few years. We should start seeing homes around 340k that are in good shape. The market is improving and buyers are realizing the value of what's out there. 2. Finding a 2000 sqft home with 3 bedrooms and 2 baths with waterfront is virtually impossible under $300,000. (most of these homes will be in the mid 300's to well over 500k, and even higher in the 6's, depending on age etc..) 3. Over half the homes at Claytor are considered second homes; therefore, many owners are just not motivated - if they can't get their 'lottery price' then the properties will sit for extended periods of time. Even the homes that are considered primary have the 'lottery' syndrome. Many are beginning to see that Claytor is not our own private Powerball Game in Southwest Virginia. The buyers in today's market are rightfully demanding more for their dollar. 4. Friends of Claytor Lake (FOCL) is one of your best resources at Claytor Lake - a link to the left is labeled "FOCL" for your convenience. 5. Land/Lots are hard to come by on this great Lake - if you find a lot, or a piece of land that is large enough for a home, and bungee cords are NOT required to get the lake, then I would suggest some research in a timely manner. When it comes to land, make sure you utilize someone with lake knowledge to assist you with purchasing. Septic systems, sand bars, coves collecting floating debris, and general water depths, are all items which should be high on your list of learning prior to purchasing. 6. SEPTIC SYSTEMS - BE AWARE AT CLAYTOR LAKE - do your homework by getting records from the owner and/or the local Health Department (540)994-5037. Some of the homes built back in the 50's, 60's, and 70's, or later, may not have recorded septic permits. The Health Department in Pulaski County is great to work with at Claytor Lake. I hope the information above is helpful, always feel free to send an email with your questions, and I will do what I can to assist you. Now, please keep reading below!
Good luck in your search at Claytor!
The data relating to real estate on this web site comes in part from the Broker Reciprocity/IDX (Internet Data Exchange) Program of the New River Valley Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Mabry & Cox REALTORS, are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
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