Remember the Tickle Me Elmo craze during the 1996 Christmas season? This doll was THE have-to-have toy and there weren't enough to go around. The price in the store was less than $30; however, some people ended up paying hundreds of dollars for Tickle Me Elmo.

Now, what does Tickle Me Elmo have to do with real estate investment? It illustrates the concept of supply and demand. When something is in short supply, people are willing to pay more for it.

Of course, I don't foresee the same frenzied, must-have situation for lake lots and land. However, this type of property is an excellent investment-there are only a limited number of these parcels left, at least on Table Rock Lake and Lake Taneycomo. Once they're gone, they're GONE.

Appreciation on lakefront and lakeview lots on Table Rock Lake has been phenomenal. Below are statistics showing the average selling price on lakefront/lakeview lots, less than 2 acres, on Table Rock Lake for each year since 2004.

2004:   $33,889

2005:   $42,527

2006:   $55,076

2007:   $62,974

2008:   $78,627   (January 1 - October 27)

These statistics show what a great investment lake property can be. With the state of today's financial and stock markets, it makes more sense than ever to invest in lake real estate.