About Sandpoint's Dover

When my family and I decided to relocate to Sandpoint, Idaho, one of the considerations we had was in moving and investing in a region that had solid real estate fundamentals with a long term value proposition. In comparison to other places we had considered, such as McCall, Idaho, and Bend, Oregon, we certainly felt very confident in our Sandpoint decision. This is a place that has some of the finest natural amenities on the planet, with a hip and cultural progressive community, yet with very reasonable real estate pricing and supply relative to other resort destinations.

Within Sandpoint we found that Dover Bay had perhaps the strongest underlying fundamentals of any of the resort communities in the North Idaho area. This is why I personally decided to represent Dover Bay property as a Realtor, and also to live in Dover Bay Resort full time.

The following quote comes from Ralph Sletager, founder and owner of Dover Bay Development:

"We can't foresee the future; however, Dover Bay features "irreplaceable natural amenities

...there's that segment of our society that will always value waking up to a view of the water,

and being able to have direct access to their own stretch of beach. We've taken a finite

commodity, waterfront property, and enhanced what Mother Nature provided. Sales during the

down economy have been steady. We're confident that trend will continue and accelerate at

the economy gets back on track and people get their financial confidence back."

Based on everything we have experienced with Dover Bay, I can personally vouch for the above and go forward with the utmost confidence on the future of Dover and Sandpoint.

An incredible amount of market analysis went into the development plans for Dover Bay Waterfront Resort & Marina. Distinctive real estate products were developed with specific customer segments in mind, and even within each neighborhood there have been variances in design to appeal to subsets within these demographic groups.

The beauty of the Dover Bay Community concept is that there are 11 distinct neighborhoods

appealing to people from all walks of life. Obviously, the resort is geared toward the water and

snow‐loving crowd, but the diversity of the product offerings appeal to everyone from

young first‐time homebuyers to well‐to‐do executives or retirees looking for a luxury

custom second home on the water.

A young couple in their twenties can purchase one of the bungalow properties (starting

at $198,500) and build future wealth through ownership of a rare and finite

commodity...waterfront property. This allows families to invest in their recreational

time and create memories that last a lifetime.

The Cottages in The Meadow are perfect for first time homebuyers. More established

buyers have been impressed by the quality of Dover's higher end properties, and the fact

that we help protect their million dollar‐plus home purchases by limiting the release of

new Dover Bay offerings.

The developer has strategically created new home styles to meet the growing and

changing needs of our clientele, as well as maintaining home inventories that meet

current demand, rather than building large inventories and "betting on the come".

Dover Bay Development's goal is to communicate, cooperate and coordinate with both our existing

residents and potential buyers. Confidence comes from proven financial stability of a

development, keeping people informed, and offering a variety of options to fit their

needs. Dover Bay also embraces the traditional sales and marketing in selling of re‐sales

within the community.

Continuing with the discussion of the unique features that make Dover Bay Resort a solid investment, here are some key differentiators from other resort real estate communities in and around Sandpoint Idaho.

A. Concept of Independent Commercial Entities

In today's market, one of the biggest sales challenges a second home development has

is the love/hate relationship between real estate and the club. Many communities

require homeowner's to be club members, using and paying for both the amenities

and homeowner's association services.

This is what sets Dover Bay apart from the rest. The commercial aspects of the Marina

Village, the Lake Club Fitness Center, Café and Market, Marina and future amenities are

"stand alone" facilities. The homeowner makes the choice to have a boat slip or belong

to the health club facility. This "a la carte" philosophy will continue as additional

amenities are added to the resort.

B. Irreplaceable natural amenities create an irreplaceable opportunity ‐ Location, Location,

Location

Market share will be especially problematic for the remote, destination‐oriented

communities that are time consuming and expensive to get to and offering only a

private golf club, swimming, tennis, parks and trails.

Dover Bay is also different in that it features "irreplaceable natural amenities" which

creates an irreplaceable opportunity to be part of a waterfront community. One of

Dover Bay's strengths is the amount of water frontage access and views it features.

Where else can you find a 285 acre community directly on the shores of a fantastic

Lake? The location of having the second largest freshwater lake west of the Mississippi

out your front door, a world renowned ski mountain out your back and the quaint

friendly town of Sandpoint nearby is distinctive.

Dover Bay is unique in that it's nestled in a dramatic natural setting. Its location on

Lake Pend Oreille, its proximity to Sandpoint and the many activities of a four season

lifestyle are extremely rare. The community includes over 9 acres of parks and beaches,

9 miles of walking and biking trails which connect to the North Idaho Pathways and is

only 3 miles from downtown Sandpoint which features many art galleries, restaurants

and retail outlets.

Dover Bay is an easy weekend getaway for the second home buyer, 90 minute drive

from Spokane, 45 minutes to Coeur d'Alene and 30 minutes to the Canadian border.

D. Completion of Amenities

All the essential amenities are completed. Dover Bay Development is in discussions to

create additional amenities that will improve the community.

E. Strength of the developer and lenders

The strongest developments begin with having financially and ethically strong

developers. It's that solid foundation that ensures long‐term security success for Dover

Bay homeowners as well as for the Resort itself.

D. Operations

1. Waterfront Property Management, the largest marina operator on Lake Pend Oreille,

manages the commercial facilities within the community.

2. Tom Curtiss, a seasoned property manager with Panhandle Management manages

the neighborhood's HOAs and overall community association's maintenance.

E. Price Points

Unlike many other communities, Dover Bay has something for everyone. Home

sites start at $145,000 for interior lots with a lake view and range up to

$1,500,000 for estate sized lakefront home sites. We also have Parkside Bungalows

starting at $198,500 or if you would prefer luxurious waterfront custom homes that

have no price limitations. Dover Bay truly has something for everyone whether you're a

first time home buyer, the second home getaway buyer or an investor.

In addition, Dover Bay has a "buy now, build later" option for home site purchasers.

Because our buyers tend to be buying to create a long‐term family legacy, and because

Dover understands the nature of this new economy, they can take their time, choose their

own‐builder and create their dream home when their finances allow.

F. A Variety of Home Styles

Dover Bay Waterfront Community features 11 different unique neighborhoods which

offer a limited selection of waterfront home sites, waterfront condominiums,

Cabin in the Woods, Cottages in Dover Meadows and Parkside Bungalows each

neighborhood unique and offers a variety of prices ranges.

F. Waterfront

Dover Bay features 23, 000 feet of waterfront with 9,000 of that on Lake Pend

Oreille. All the paths (trails) lead to the waterfront.

For more information on any of Dover Bay's real estate or other matters, please contact Rick Evans at 208-304-5665 or visit http://www.SandpointResortRealty.com/resort.html.

Given the economic environment of late and the troubles that many resort developments are having, a common concern with many of my clients relates to the underlying strength of the resort community in which they are considering buying. Dover Bay Resort is one community that is certainly in a very solid position even in today's market.

Developer/Developments Credibility/Communities Financial Health

Dover Bay has been involved in successful residential,

commercial and property management projects such as Warren Island, Holiday Shores

Condominiums, East Hope Marina, Holiday Shores Resort, Sandpoint Marina and the Old

Powerhouse Building. Those successes have allowed Dover Bay Development to forge close financial

relationships with a number of very stable local banks. These strong financial partners

have allowed the developer to pursue and pay for the Dover Bay P.U.D. improvements as well as

municipal and commercial improvements. Dover Bay has made substantial investments

in the city of Dover, Dover Bay P.U.D, and the Marina Village commercial area.

1. Dover Bay development has funded and completed over $10 million

in improvements within the Dover Bay P.U.D. consisting of all the

infrastructure, roadways, the creation of an expansive trail system

including a biking trail system, a number of water features and parks

throughout the Community.

2. Municipal - Dover Bay Development has built and donated to the City of Dover

$4 million in new facilities including the City Hall and beautiful city

beach. It has also built and turned over to the city over $9 million in other

improvement such as a new fire station, 110' ladder fire truck with lift

and a state‐of‐the‐art wastewater treatment station, with the capacity

for a regional solution and a new water storage tank increasing the

city's potable water storage and improving the line flow capacity from

75,000 gallons to 353,000. The development has also paved the streets

in old Dover along with connecting the bike trails to the North Idaho

Pathways leading into Sandpoint.

The Dover Urban Renewal District is the most successful urban renewal

districts in the State of Idaho and has already reimbursed Dover Bay for

$7 million of the municipal improvements of the city.

3. Commercial / Dover Bay Resort

The first phase of the marina is completed. It is the only new marina

to be built on Lake Pend Oreille in recent memory. The Resort features

the Café and Market, Lake Club Fitness Center, Beach Bungalow

Vacation Rentals and is in ongoing negotiations for additional amenities

from Tennis Clubs, events center and additional commercial

opportunities that present themselves on a regular and continuing

basis.

As a resident of Dover Bay Waterfront Resort, this is our first winter. We had been really excited about living here in the summer and fall, with the great lake access and mountain biking/hiking at Syringa next door. But Winter here has really been a treat as well.

I've spoken about all the great trails that we use for cross country skiing and snow shoeing. It is so pristine out here, with our back door really opening up to the wilderness around us. It seems as if we live out in the country, yet of course we are 2 miles from town with all the conveniences we can ask for here at Dover Bay.

In the past few weeks, I have seen Bald Eagles, Moose, and Deer all over the place. While I had seen an occasional Eagle in the past, there are now a handful of them that appear to be living out here. I have been seeing two or three large Bald Eagles perched in the trees by the Sunset Saddle Estates lots. Walking up Dover Point with my dog yesterday, two Eagles flew about 20 feet over my head. Unfortunately I didn't have a camera with me, but I did take this shot of a couple eagles in the trees. (This was through my phone as we are waiting on our new camera to arrive, so the photo is pretty low-res).

While it always gives me an inspired feel to see Eagles flying around my home, I never get tired of seeing Moose. With all the wetlands and preservation space at Dover Bay, plus the mountains around us, it definitely seems like a good location for Moose and other large animals. We have continued to see them in the early evenings and mornings all around the resort. Check out this one peeking through the window at my brother's place in Westwood (just down the road)...

The Dover Bay development has done a great job in clustering its housing neighborhoods in order to preserve and protect other areas of the property. Although more homes will be built, there will always be a substantial amount of open park space and wetlands at Dover Bay. Walking my dog up Dover Point or through the trails from the Dover Beach Park at sunset, or even at night, has proven to be a daily treat as we continue to see amazing scenery day in and day out.

For more photos, see http://www.flickr.com/photos/29620933@N02/sets/72157607159581476/ or visit my website: http://www.SandpointResortRealty.com