Sandpoint & North Idaho Waterfront Real Estate Blog
My name is Gary Lirette and my partner and I specialize in waterfront in and around Sandpoint, Idaho. This includes Lake Pend Oreille and the Pend Oreille River primarily, and Lake Cocolalla. To a lesser degree, we also have extensive knowledge of the Priest River, the Moyie and Kootenai Rivers, Pack River, Rapid Lightning Creek, the Clark Fork River, and the lesser lakes around Lake Pend Oreille.
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I live on the Pend Oreille River about a mile from Lake Pend Oreille. Many think this is the lake since the river is so wide here, but the lake really begins at the Long Bridge. Jed Sigman, my business partner, also lives on the Pend Oreille River at Gypsy Bay. Just living on the water does not make us experts. Instead of me bragging about the hows and whys, every week as I send info to my waterfront buyers, I will update this blog. At times the info will be very specifically dealing with what those buyers are looking for. Mostly we search for the best value at that moment. Certainly if what you are looking for is that special million dollar property right on the water with its own fabulous dock, we can help. Still, we are constantly searching for the property that is the proverbial 'screamin' deal.' That said, here is this week's info:
August 5, 2009
The Best Primary Waterfront available in Sandpoint currently
When it comes to waterfront, there is still more demand than inventory. The homes can be stunning, but price has always been a hurdle.
Have prices come down? There are still some incredibly overpriced homes on the Pend Oreille River and Lake Pend Oreille in North Idaho.
As of August 5, 2009, leaving out condos and timeshares, there are 92 homes offered with main frontage on Lake Pend Oreille and the Pend Oreille River. For our purposes, we are leaving out homes offered on lesser bodies of water. The average price of those homes is $1,550,646 and median price is $999,000.
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Here is a link to view those homes: 92 Waterfront homes
Closed sales don't support high prices in this current market, but the truth is most of the sellers of waterfront properties don't have to sell. While closed sales can be used to get a lower offer accepted, the numbers are showing that offers that are too low are simply being rejected.
Secondary waterfront has fared much better, and I have sold three secondary waterfront homes this year.
Bank owned and repos don't find their way to the light of day with waterfront. Banks have preferred partners and buyers, and any professional specializing in waterfront has a long list of clients that are willing to buy great deals when waterfront becomes available. So, those never make the repo lists, rarely get put out as short sales, and fewer still go all the way to foreclosure and get listed on the open MLS.
Here are a dozen homes that have some sense of privacy, better than postage stamp lots, and homes with craftsmanship and character
MLS# 20901542 - 2233 Wooded Acres, Sagle, ID. This home has a great sense of privacy even though it sits on .41 acres. It has a 2-slip dock and has beautiful attention to detail. The only detraction is that Wooded Acres is down the Pend Oreille River about 5 miles down the river from Lake Pend Oreille. However, this is an upscale community down Lakeshore Drive.
Overpriced at the original $899,000. Currently offered at $619,021
MLS# 20901961 - 191 S Camp Bay Road, Sagle, ID. The architecture in this home is strictly lake second home, but with a slightly larger lot - .59 acres - this home, while smaller, has a superlative dock, 150' on the water, which is better than the par 50' or even 100', feels very private, and Camp Bay is one of the premier bays on Lake Pend Oreille.
Overpriced at the original $950,000. Currently offered at $639,000
MLS# 2081289 - 615 East Bottle Bay Road, Sagle, ID. There are two main bays that are the sought after play areas on Lake Pend Oreille: Bottle Bay and Garfield Bay. This home is a half mile past Bottle Bay and is a dream home, with one of the nicest area docks complete with boat lift. Not as private as some of the others with a smaller .31 acre lot. Even has a shoreline cabana, something that couldn't be built under current county guideance.
Overpriced at the original $750,000. Possibly still a bit high at $699,000
MLS# 20900352 - 39 Conrad Vista Road, Laclede, ID. Only fifteen minutes to Sandpoint is Laclede along the Pend Oreille River. This newer home also has boat lift and dock on 100', but with an acre of land, this feels much more roomy than some of the other waterfront homes. The home is detailed to the nines, and is one of the better offerings in this list.
Overpriced at the original $1,250,000. Currently offered at $799,000
MLS# 20902757 - 1799 Wooded Acres, Sagle, ID. Another Wooded Acres property, this home is larger with a larger .65 acre lot. This is what a million dollar home should look like. Big dock has boat lift as well as jet ski lifts. This one has to be seen. While some homes may be overpriced, this home is worth taking a look at. Has a nice sense of privacy.
Might be close to the right price at $895,000 and only listed 30 days. No price reductions yet.
MLS# 2083582 - 3165 Bottle Bay Road, Sagle, ID. In an area of million dollar+ homes, this is what many would consider to be the atypical lakefront estate home. My only issue with this is the interior is dark and a bit dated. Otherwise, the 1.08 acres is one of the larger lots on a premier section of Lake Pend Oreille, and this home is nice.
Way overpriced at the original $1,395,000. Still probably a bit over at $925,000
MLS# 20805054 - 95 Eagle Flight, Sagle, ID. This is the kind of home most of us think of when we think of luxury lake retreats. Almost 2,700 sq. ft. on .54 acres, with all the right touches. Private, cool dock, really beautiful. Closed sales show this home should sell for in the area of close to $1,000,000.
Overpriced at $1,145,000. Now $973,300
MLS# 20902362 - 413 Swan Shores, Sagle, ID. On Gypsy Bay, 8.1 miles down the Pend Oreille River from Lake Pend Oreille, Swan Shores has only homes in this range or better. This well-appointed and comfortable home has a rarity for our area: a sandy beach with 125' of frontage. With 1.77 acres, it is among the largest lots currently available on the water under a million, and has easy access to Sandpoint. Offering perhaps the best privacy on this list.
Overpriced at the original $1,100,000. Still probably a bit high at $990,000
MLS# 2080875 - 222 Stewarts Dr., Sagle, ID. One of two good offerings on Stewarts, this is down Bottle Bay Road about 8 miles. Nice home, nice deck, nice landscaping, but nothing over the top. It is typical of homes offered on the lake with 100' of frontage and .44 acres.
Incredibly overpriced at $1,500,000. Still high at $995,000
MLS# 20902134 - 236 Stewarts Dr., Sagle, ID. While this home has a lot that is just a touch smaller, the home and grounds are a touch better. If I were representing a buyer, I would ask for countertop and some other upgrades. Same as above.
Incredibly overpriced at $1,300,000. Still high at $999,000
MLS# 20900261 - 266 Kaniksu Shores, Sandpoint, ID. This is perhaps our most desired area, being on the Sunnyside Peninsula, mere minutes from downtown Sandpoint. With 1.76 acres this rivals the other large lots, is a brand new home, but does not have a dock yet, and you can certainly see your neighbors. The cachet of the neighborhood and location though make this perhaps the only home worth the asking price in this range.
Overpriced at $1,500,000. Just right at $999,000
May 15, 2009
Waterfront Comparisons for Sandpoint, Idaho
We have had a lot of homes listed as waterfront, but comparatively fewer sales than in previous years.
Here is the pdf of a CMA for waterfront, secondary waterfront, and water view homes that have sold in the last year and are active listings:
Two of our premier waterfront areas in the past have been Sourdough with its own marina, island, tennis courts, etc., and Comeback Bay off Fry Creek and Sagle Slough. Comeback Bay has close proximity to town, Sourdough better views and amenities. Yet there were woefully few sales for over two years on Comeback Bay until this year. Now they have had six closed sales in the last ten months. Sourdough's problem was their overpriced nature. Now that their pricing has come down to earth, that trend will reverse.
This pdf is a list of all the homes that have been listed in and around Sourdough in the last year. Only one has sold:
To give you an idea of what we do for our buyers, when I had a couple interested in buying 160 Sourdough, I went there and took pictures, and even did a video. Here is link to that page: http://www.sandpointid.net/Sourdough.html
April 17, 2009
I haven't updated my waterfront blog since the end of February, and we have had some big changes. First, we haven't had any real and actual waterfront under $500,000 for a couple of years, with the exception of the occasional property. Those were usually snatched up so fast, regular buyers were out of the loop. This year, while we don't have hundreds or even dozens, we have some good buys. While there are some nice homes on some smaller lakes and rivers, most people are looking for Lake Pend Oreille access. Currently, from $399,000 to $500,000, there are seven homes that are on, or have direct access to Lake Pend Oreille, all with water views. There is one that I through in on the Pend Oreille River because it is the least expensive with waterfront, plus it has acreage and is listed for $450,000. There are few properties yet this season with the kind of killer lake views everyone wants. Included in this group is one in Hope.
To view these properties side-by-side, click this CMA link.
Let's be honest, we all would rather pay under $500,000 than over $700,000 or even more. Right now, there are roughly 60-70 homes on Lake Pend Oreille for sale. There are another 20-30 that are on tributaries that have immediate access to the lake. With the exception of the few that I have listed, 90% of those are still over $700,000.
Will all of these better priced homes sell this season? We will likely sell eight out of ten of those, and about twenty of the others if this season is like last year. However, we are heating up right now, and my team represents four of these better priced listings.
For the last three years, many of my clients have indicated to me that the one thing they wanted was waterfront, depending on area, under that magic number. So, we went out of our way to find those properties and get them priced right.
The best two things about these under $500,000 is the current interest rate, and that jumbo loans begin above $417,000. So, even if this is a second home, the rate savings is about one percent or more. Just one extra point higher makes any property cost ten percent more. This can amount to hundreds more a month. Imagine you can put down $200,000 on a home that sells for $750,000. If you could save one percent, then the monthly savings with taxes could be $500 a month. Over the life of the loan, again factoring taxes and insurance, this amounts to a savings of over $125,000. Could you put your child through college for that?
We have improved our assets on our websites to better inform about the waterfront life. Listed below are the links that have something to do with lake life in North Idaho:
http://waterfronthomessandpoint.com/
http://www.sandpointid.net/What_to_do_on_Lake_Pend_Oreille.html
http://www.sandpointid.net/North_Idaho_Lake_Guide.html
http://sandpointid.net/North_Idaho_River_Guide.html
http://sandpointid.net/North_Idaho_Docks-Marinas.html
http://www.sandpointid.net/fish-health.htm
http://sandpointid.net/Lake%20Pend%20Oreille%20Depth%20Map.html
http://www.sandpointid.net/N.Idaho-Waterfalls.htm
http://sandpointid.net/Cool_Things_to_Do.htm
As usual, my promise is to work 24/7 for my clients, and always be available, not only in areas of real estate, but in mentoring new businesses, finding the right schools, and helping with your job search in this place, your new home.
Gary Lirette, REALTOR® Tomlinson Sandpoint Sotheby's International Realty
208-610-1384
gary.lirette@sothebysrealty.com
To learn more about our area, visit one of our 50 websites:
Festival at Sandpoint
These are some pictures of setting up and scenes from the last couple of years of the Festival at Sandpoint. This year, 2009, marks the 27th annual Festival at Sandpoint.
There is so much more that goes into producing such a large event. Besides running the event for two weeks with international stars appearing four nights a week, there is the wine tasting, other associated events, and the set up and break down takes days.
These photos of the Festival at Sandpoint are just to give you a brief glimpse of that great musical magical time in Sandpoint, Idaho along the shores of the Pend Oreille River.
To see this year's lineup, visit
www.FestivalatSandpoint.com
Hundreds come to support and volunteer to put on the Festival at Sandpoint
Putting up the tent
Almost there...
It is like a jigsaw puzzle
...and then the fun begins.
Thursday through Sunday, for two weeks...
Where are you from?
The music ranges from the classics to the most current vibes that rock the radio waves.
Every night, our souls are touched by sounds along the waters of Pend Oreille.
The finale is always special.
Often dancers compliment the tunes.
Finally, fireworks end the best of Sandpoint's two-week long music fest: The Festival at Sandpoint.
Okay, so sometimes I just don't have pictures 'cuz I am just having way to good a time to be the snapshot king. So, there are shots of some, but others you are just going to have to use your imagination.
Earlier this week on Wednesday, about thirty of us took to the waves and spent all day on Lake Pend Oreille. It was the annual waterfront tour of homes on the lake for the REALTORS® from Tomlinson Sandpoint Sotheby's International Realty.
We spent the day checking out the dozens and dozens of lakefront homes we represent, and had just a tiny bit of fun along the way.
See more here: http://sandpointid.net/Day_on_Lake_Pend_Oreille.html
Then the Sandpoint Artwalk started Friday, and downtown was hopping all day long. There was live music everywhere, lots of cool folk from all over the US and Canada, plus art on display in what seemed like every place that had a door.
The next morning was forecast to be the hottest day of the year. While Seattle and Portland have been in the midst of a heatwave with temps in the mid-100s, we have had cloud-free skies in the 80s and low-90s. We got up to around 100 Saturday, but early on several hundred intrepid water racers competed in our 15th Annual Long Bridge Swim. This 1.76 mile race starts in Sagle near the Long Bridge and ends up at Dog Beach. The race began around 10am, and a couple thousand well-wishers cheered on the swimmers.
See the pictorial of the event here: http://sandpointid.net/Sandpoint-Longbridge-Swim.html
Later that night my friend Gary Peitz, owner of the hip new restaurant Dish Home Cooking, and I hit the town looking for the happening night spot. We went to the Beach House, now known as Cafe Trinity at the Beach, and had a couple of cocktails, enjoying the cool breeze coming off Lake Pend Oreille. They had hosted a thirtieth class reunion and I don't mind saying that the class of '79 still has some stunning babes, though the guy with the mullet was just rude. Hey dude, the '70s called and they would like their haircut back.
Anyway, we checked out Oiishi, 219, and APs, but the kickin' place was Downtown Crossing. We picked up a couple strays along the way, and at the Crossing rocked out to a Robin Trower-esque blues guitarist that made a boy stand up and pay attention.
This kid is about to graduate from the Berkeley School of Music. He rocked! Stoney, who DJs the airwaves for KPND every weekend turned us on to the virtuoso. I will be doing a video interview of the guy later this week and will post it on YouTube. Still, vids don't capture the cool, so if you want to catch a listen, go to Downtown Crossing next Friday and he will be sitting in with Stoney's band.
All in all, a very cool week in Sandpoint, Idaho.
If you are looking for something to do, and can't find it in our Calendar of Events, try these resources:
http://www.sandpointid.net/Cool_Things_to_Do.htm
http://sandpointid.net/Sandpoint-Summer-Activities.html
http://sandpointid.net/N.Idaho-Waterfalls.htm
As usual, my promise is to work 24/7 for my clients, and always be available, not only in areas of real estate, but in mentoring new businesses, finding the right schools, and helping with your job search in this place, your new home.
Gary Lirette, REALTOR® Tomlinson Sandpoint Sotheby's International Realty
208-610-1384
800-282-6880
gary.lirette@sothebysrealty.com
To learn more about our area, visit one of our 50 websites:
SANDPOINT LONG BRIDGE SWIM - 2009
Today was the perfect day for a swim. The proverbial news on the airwaves called for temperatures to be the highest of the year so far. Not a cloud in the sky. The 1.76-mile swim was most likely in 65-70 degree water (usually the temperature is between 68-70 degrees) from the south end of the Long Bridge to the north. Two and a half hours was the allotted time limit for swimming the distance.
There were hundreds and hundreds of cheering onlookers, and with yesterday being the beginning of Sandpoint's Artwalk, the perfect day was underway.
The swim is not quite the distance of the two-mile span of the Long Bridge, which crosses Lake Pend Oreille from Sagle to Sandpoint.
The first Long Bridge began May 26, 1908, and was in operation until being torn down in the 1930's to make room for a new wooden bridge.
During the Great Dpression that the second bridge was built with help from the WPA and finished March 3, 1934. The bridge had the moniker of "The longest wooden bridge in the world" and was a tourist draw for decades, serving the region for 22 years. Heavy traffic of World War II (Bayview had a Naval training station during the war) took its toll on the structure and in June of 1956 the third bridge was built.
This current Long Bridge was dedicated on September 23, 1981 and it runs along side the previous one.
This Long Bridge swim is the fifteenth annual rendition of this event, and was very cool. Check it out.
41 South Restaurant at the end of the Long Bridge
The dock at 41 South Restaurant
Crossing under the Long Bridge
Crossing under the Long Bridge
The swimmers arrive!
Nice crowd to cheer on the swimmers
Getting ready for the plunge at the Long Bridge Swi
...and they're off!!!
The race begins - Long Bridge Swim
The Long Bridge Swim
The Long Bridge Swim
The Long Bridge Swim - Crossing the bridge
Sand Creek Byway construction
The finish line - Long Bridge Swim
The finish line - Long Bridge Swim
Pictures by Bill Schaudt
As usual, my promise is to work 24/7 for my clients, and always be available, not only in areas of real estate, but in mentoring new businesses, finding the right schools, and helping with your job search in this place, your new home.
Gary Lirette, REALTOR® Tomlinson Sandpoint Sotheby's International Realty
208-610-1384
800-282-6880
gary.lirette@sothebysrealty.com
To learn more about our area, visit one of our 50 websites:
www.WaterfrontHomesSandpoint.com
Sandpoint Real Estate: Yes, we are selling properties
While our market suffered its worst effort in years in 2008, so far, in total we are behind that number. However, my team is selling. As part of the Northwest Group of Tomlinson Sandpoint Sotheby's International Realty, my part of the team consists of our assistant Keely, my business partner Jed Sigman, and me, Gary Lirette. This year we have had a couple of waterfront sales among several other closings, and I had two accepted offers this week. Plus, in the last two weeks I have written seven offers. Granted, getting financing has been the final hurdle that does not always get overcome.
That said, when the market was hot, order takers could easily make sales. Wouldn't you want an agent who works hard and smart enough to sell during these difficult times?
Here is a resource for you to find real estate and stay better informed about our realty market in Sandpoint, Idaho and our North Idaho area.
To Search for Realty, click
We Specialize in
Waterfront & View Properties
Finally, some good economic news
Resources
New Septic Guidelines Private Roads Standards Building Resources Well Log Search
Bonner Plan & Zoning Idaho Dept. of Lands Div. of Building Safety
Boundary P & Z Bonner County Profile Boundary Cty Profile Construction Links
Banks & Financial Institutions
Bank of America Mountain West Bank Northwest Mortgage Panhandle State Bank
Gary Lirette, REALTOR® & host of the radio shows North Idaho Business as well as North Idaho Arts on KSPT & KBFI in Sandpoint & Bonners Ferry. When you need your real estate questions answered...
E-mail Gary or call 208-610-1384
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This Sandpoint real estate agent believes knowing your community is the most important thing, & as host for many years of the N Idaho Business & N Idaho Arts radio shows, I have that knowledge.
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