Sandpoint Waterfront - End of year 2009

Having sold waterfront homes on Talon Drive, Bryce, and Derr Island, plus secondary and waterview lots this year, in this market, few other REALTORS® have had as much success as I have had.

The market is slow, and while statistics are indicating we will see an 18-23% decline in prices this year, waterfront continues to be the one segment that maintains value. This doesn't mean that prices haven't slipped for a home with a boat dock. What has declined similarly are homes in less desirable waterfront communities. Those are typically riverfront homes, homes in communities that are more crowded, and areas farther away from Sandpoint or Coeur d'Alene. During boom times, these homes competed with the better locations in price. Now, those are typically 10-25% less.

Areas such as the Hope Peninsula, Garfield Bay, in town Sandpoint and Coeur d'Alene, Sunnyside, Odin Bay, and others still command top dollar.

I wrote this post on December 15, 2009 in response to a client looking for a Sandpoint-centric location. Also, condos were not in consideration. Therefore, some nice waterfront homes were left out in Bayview, Hope, Clark Fork and perhaps other areas. Also, the criteria by which I searched was for homes that were free-standing, not in developments per se, which also eliminated Dover Bay Waterfront Community. In the previous 19 postings on waterfront, I have commented on Priest River, Priest Lake, Hope, condos, Dover, and virtually every other area of Bonner County and Boundary County. I invite those looking to learn more about the market as pertains to waterfront and waterview properties to read all of the blog postings I have posted on Activerain, as well as my forty-eight other websites. Additional commentaries are in the articles written about Sandpoint and myself, including the most recent piece featuring yours truly in Where to Retire magazine in the December 2009 issue: a magazine with 2,900,000 readers.

Listed below are the twenty homes that offer the best values under $700,000, plus information and my opinion about each:

MLS # 20903657 11464 W Dufort Rd, Priest River, ID 83856 $350,000

This home is dated, and could use some modernizing. It was remodeled years ago, and has that late-1980s feel, though it was probably done about ten years ago.

It was listed at almost double this just a couple of years ago. It has much more acreage than most waterfront listings, and has great views, but the house orientation does not take much advantage of the river. In fact, the river frontage and the home are separated by Dufort Road, and though it is a major east-west route, at least this part is less traveled. Ideally, the home would become the guest house or be torn down one day to make room for a place that gets those spectacular views. The least expensive direct waterfront in this list. 

MLS # 20904346 535 Comeback Bay Ln Sagle, ID 83860 $374,900

Comeback Bay is a development, just across the Longbridge from Sandpoint, on Sagle Slough fed by Fry Creek. It is a boatable body of water during much of the warmer months, but as the Army Corps of Engineers lets 7-10 feet out of Lake Pend Oreille every year, most of this slough becomes a mud flat.

The home was built in 1973, and the layout is typical of that time. However, it has been updated in what I like to think of as high-end apartment dwelling.

This is a bank repo, and with the combination of convenience to Sandpoint (seven minutes away), paved road access, and boatable, under $400,000, this is a good deal.

MLS # 20903964 275 River Birch Road, Laclede, ID 83841 $399,000

Laclede is on the Pend Oreille River just fifteen minutes to Sandpoint and ten minutes to Priest River on what is arguably our best highway. Certainly the drive along the river is serene and one of the most beautiful drives in the world.

This home is a short sale, and is being offered for less than is owed to the bank. The home was built in 1994, and is a cookie-cutter design that could be found in any city in the U.S.

Still, it is a good buy at the price.

MLS# 2082384 331 EAGLE FLIGHT WAY Sagle, ID 83860 $407,000

Eagle Flight is near Garfield Bay on Lake Pend Oreille, making it one of our more desirable areas. This home has been on the market almost two years, and started at $609,000. This area is steep, and there is quite the trek down to the water.

The property, at almost ¼ acre, would be substantial in Orlando or Seattle, but is a postage stamp in North Idaho. The home is equally small, at just under 1,300 sq. ft., and though built in 1982, has had some updating.

The price is about right for Garfield Bay area, but I would suggest offering right under $400,000.

MLS# 20900570 2255 Gypsy Bay Road Sagle, ID 83860 $495,000

There was a time when a home like this on Gypsy Bay on the Pend Oreille River might have sold for $800,000. Now, with Sandpoint about 25 minutes away, this location seems a bit far. Still, Priest River is about 15 minutes, making this a good central location. This home is dated, built in 1971, and it still has the same tired wood paneling that I am sure is original. A much more luxurious, modern home on 12 acres right down the road almost is pending with 2 ½ times the size for only $100,000 more. The big difference is that this home has direct water frontage, but for $88,000 less, I would sacrifice the extra .25 acre and get the one on Eagle Flight.

MLS # 20903446 419 Campbell Point, Laclede, ID 83841 $499,000

Laclede is about equally distant from Sandpoint and Priest River, but lies on the opposite bank of the Pend Orielle River. It has a couple of advantages. First, this bank has southern exposure, which sounds like a realty spiel, but in North Idaho, especially during winter, this is huge. It is also a much, much larger home, almost three times larger. While also a bit dated, built in 1982, it is clean and comfortable.

Highway 2 is, as previously stated, perhaps our best road, and the ease of access to both your own dock and town is another big plus.

MLS # 20903881 963 Riley Creek Park Road, Laclede, ID 83841 $539,000

Again another Laclede/Pend Oreille River home. Both the home and the lot are not quite as large as the previous listing. There are some big differences. First, though this home was built in 1976, it has been tastefully remodeled. The attention to detail is evident, and the materials are top-notch.

Also, with the new county guidelines, no new homes could be built this close to the water. You can literally step out the back door and jump right in for a swim. It has a covered boat lift and dock, and affords unbelievable views from almost every window.

This one is a stunner.

MLS # 20903628 4114 Dufort, Sagle, ID 83860 $545,000

Only a tiny home, and not on boatable waterfront. Still, this is 60 acres on a beautiful slough, and just minutes from the river. Just thought I would throw this one in.

MLS # 20902312 155 Birch Haven Dr, Sagle, ID 83860 $550,000

Birch Haven is directly across the Longbridge from Sandpoint. The Longbridge Swim, 4^th of July fireworks, and four minute access to Sandpoint makes this one of the most convenient locations in Bonner County. It is in a traditional neighborhood. It accesses Lake Pend Oreille through its own dock on Fry Creek.

Built in 1965, it was renovated about 20 years ago, and could use another facelift.

MLS # 20901974 644 KEEPA WAY, Sagle, ID 83860 $550,000

Okay, so this isn't direct waterfront, but has access to waterfront and a boat slip. It is also on five acres, making it considerably more land than some of the others. Plus, it is what we expect from beautiful North Idaho construction. It is a log home built in 2007 with spectacular view, privacy, and very nicely appointed. The road is less than desirable, but not terrible.

Nice home, but a tad small. 

MLS # 20903202 995 Comeback Bay Lane, Sagle, ID 83860 $599,000

A stunning home on Sagle Slough. Best materials, over one acre, easy access to town, your own boat dock.

Pretty nice. Again, this is a more traditional neighborhood.

MLS # 20903866 229 Gypsy Bay Rd. Sagle, ID 83860 $624,000

Another Pend Oreille River home. This large home on 9 acres was built in 1992, but looks like it was built yesterday with premium materials. Though you are a bit far from town, the home has privacy, its own dock, and you can boat to Sandpoint in twenty minutes. 

Cool place.

MLS # 2083906 60 CAMPBELL POINT CT, Laclede, ID 83841 $647,500

This beautiful, North Idaho style home is only seven years old, and is on .83 acres. The beach area and dock is top-notch, and the home has nice materials, though not as nice as a couple mentioned previously. It has been on the market over 500 days, and started $100,000 higher.

Remember, Laclede is on about fifteen minutes from Sandpoint.

MLS # 20902794 304 Larch, Sandpoint, ID 83864 $650,000

This is the only in-town home on this list. It is on Sand Creek, which boats in a couple of minutes out to Lake Pend Oreille. It is on Larch a couple of blocks behind Safeway, and is a great location. Though it is zoned commercial, it is a decidedly residential neighborhood.

Nice older home, well-maintained, but could use some updating.

MLS # 20903912 289 W Garfield Bay Rd., Sagle, ID 83860 $695,000

Garfield Bay is still one of the most wanted areas. This is a very large home, Lake Pend Oreille frontage, and walk to restaurants, the marina, etc. The lot is large, and though built in 1943, it has been remodeled, though even that is feeling a bit tired now.

MLS # 20902105 3570 Sunnyside Road, Sandpoint, ID 83864 $695,000

Okay, so Sunnyside is one of our best locales. Only about ten minutes to Walmart and another couple of minutes to Sandpoint, this location offers very easy access.

The lot is .69 acres, but you feel much more private. The cabin is small, but the dock and the views are the best.

Can't help but think that these sellers have not gotten the memo about prices being lower now.

MLS # 20904617 143 JONES ROAD, Sagle, ID 83860 $698,500

Another home right across the Longbridge from Sandpoint. While this newer home has its own dock and provides easy access, it is close enough to Highway 95 to present noise as an issue. Plus, while built in 2003 it already has that feel of being out of touch. The counters are tile, and this is not one of my favs.

MLS # 20900653 99 Buck Run, Sagle, ID 83860 $698,500

Okay, so this house is virtually in the same area as the last one, but a much nicer home: better material, style, all around a winner. It has been listed for almost 300 days, and they have dropped the price $130,000.

MLS # 20904457 193 Birch Haven Drive, Sagle, ID, 83860 $698,759

This one is also in the same area, but a bit farther from the highway noise. A bigger home that compares well to Buck Run, though the lot is bit smaller.

There is another home is on Jones Road, same area, same stuff.

You would think that the homes that are in the higher price ranges would be substantially better, but mostly, they are just closer to town or a desirable area.

This was the list.

According to the MLS, only 28 homes have sold this year that are considered waterfront on a major body of water.  I know this number is skewed, because some of the REALTOS® still have not learned how to operate our new MLS system, so about 5-10 do not show up in a detailed search.

Still, here are the numbers:

 MLS Numbers: 20903657, 20904346, 20903964, 2082384, 20900570, 20903446, 20903881, 20903628, 20902312, 20901974, 20903202, 20903866, 2083906, 20903912, 20902105, 20904617, 20900653, 20904457

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