Waterfront property in Hope Idaho offers some of the finest homes and parcels on Lake Pend Oreille. This is due in large part because much of the water frontage offers huge views of 2-4 mile wide portions of Lake Pend Oreille with the majestic Green Monarch Mountains in the background. There are some elaborate and large estate homes, many of which are perched on sandy beaches with crystal clear, deep water ideal for swimming and boating.
The town of Hope Idaho is just 20 minutes drive from Sandpoint, and approximately 30 minutes by boat. Its essentially a bedroom community, with a couple smaller resorts such as Holiday Shores Resort & Marina, and Beyond Hope Resort. There are several good restaurants, and a local favorite boating destination is The Floating Restaurant, or 'The Floater'.
Our real estate office of Tomlinson Sandpoint Sothebys had its annual boating tour of Waterfront Property Listings on Lake Pend Oreille and Pend Oreille River. This included river frontage at Dover Bay and beyond, and lake front properties in Hope, Sunnyside, Oden Bay, Kootenai Bay, South Sandpoint, Comeback Bay, Bottle Bay, Garfield Bay, and Warren Island. With around half of the total waterfront and luxury real estate listings held by our office, we saw quite a bit of property this afternoon.
Several waterfront homes in Hope really stood out as being quite spectacular. This included Jeff Bond's house on Kienholz Drive, with 400 feet of gorgeous lake frontage, a 5600 square foot deluxe home, in a gated exclusive community on the Hope Peninsula. The list price for this home is around $3.9 million, down from an original price of $4.9.
There were other amazing estate homes on the Hope Peninsula, including a gorgeous French Country home on Pringle Drive, and another 6000 square foot home near the Beyond Hope Resort listed at $2.6 million.
Of course there are also some really nice waterfront properties in Hope that are somewhat more affordable, with lakefront homes from just under 1 million and lakefront homesites from the high $400s. THe most affordable waterfront option in Hope would probably be the Holiday Shores Resort, offering condos from as low as $345,000. These are direct lakefront homes located near the Marina and the Beyond Hope Resort.
To search for property in Hope, please follow this link, select 'waterfront' and type 'Hope' for city: http://www.sandpointresortrealty.com/all.html. Or contact me directly at 208-304-5665, rick@sandpointresortrealty.com.
Prices have certainly come down for Waterfront Condos in South Sandpoint. There are really only a few options for condominiums on the water in the heart of downtown, or 'South Sandpoint'.
For luxury waterfront condos on Lake Pend Oreille a great option is Seasons at Sandpoint. These south facing luxury condominiums are located steps from the Sandpoint City Beach and just across the inlet from the heart of Downtown Sandpoint. Seasons offers a private sandy beach, an elegant lakefront pool and jacuzzis, a private marina, and a luxurious Spa and Fitness Center that is often a destination for Sandpoint visitors. Seasons is set up as a condominium resort hotel, complete with concierge services, bell service, property management and a rental program. Shuttle service is also provided to Schweitzer Mountain.
These waterfront condos were selling quickly when they were first released a few years ago, with prices starting above 1 million. Recently a number of resale units have come onto the market with substantially lower prices. Because of its unique nature as one of South Sandpoint's only luxury waterfront condos, this product is sure to take off again as the real estate market improves. There are currently two pending sales for the smaller floor plan (2 bedroom, 1400 sft), both in the $500s range. In May there was an absolutely incredible purchase made at a price of $450,000. There is also a larger plan that has sod recently for $742k, a condo that originally listed at $900k last year.
The lowest priced Waterfront Condos in South Sandpoint can be found at either Condo Del Sol or Driftwood. Condo Del Sol is an older complex that obviously doesnt offer the amenities of Seasons, but does have several outdoor pools, tennis courts, volleyball and basketball courts, and a nice lawn area that includes brick barbeques. These units are located on the west side of the Long Bridge along a portion of Lake Pend Oreille that is gorgeous in the summer but where the water level subsides significantly by the Fall leaving lesser views. There are no boat slips, however the Sandpoint City Marina is just across the highway. Condo Del Sol offers 1, 2, or 3 bedroom condos from 560 to 1200 square feet. The lowest price is currently $209,000 for a 1 bedroom or $249,000 for a 3 bedroom, all of which are waterfront. There have been some lower priced units on the market that were put back into a vacation rental program for the summer months. I personally know of a 1bedroom condo that would likely sell for under $200k.
Another nice option are the Driftwood Condos located in Downtown Sandpoint on North 3rd Avenue. The location is fantastic for walking to restaurants and shops, although the waterfront isn't quite as nice as being on the 'big lake'. Driftwood is accessed from the Slough that passes the Sandpoint City Marina, bypassing the beach and downtown. So it takes maybe 5-10 minutes to boat to your condo, however these units all come with a private boat slip which works fantastically in the summer. The slough is probably 1/4 mile across giving you nice views but not quite the swimming beach you'd have from Seasons or Condo Del Sol. Driftwood condos were built in the 60s, however some of these have been renovated very nicely. There are 1 and 2 bedroom plans ranging from 670 to 840 square feet. The most recent sale was a 2 bedroom that sold for $205k in Dec 08. Currently there is a 2bdr on the market for $189,500.
For those people that cannot find quite what they are looking for at Seasons at Sandpoint, Condo Del Sol, or Driftwood, I recommend checking out the resort communities of both Westwood and Dover Bay. Westwood is located 1/2 mile west of Sandpoint along hwy 2, while Dover Bay is another 1.5 miles, both of which have a fantastic bike path connecting them to Downtown Sandpoint. Each of these communities has incredible access to Lake Pend Oreille for swimming or boating. Prices at Westwood start in the low $300s for townhomes that are not direct waterfront. Dover Bay offers a number of different neighborhoods and more amenities than Westwood, with prices ranging from $198,000 for a 1bdr Parkside Bungalow to $1 million plus for waterfront condos and homes. I have many more posts about Dover Bay, or visit my website at http://www.SandpointResortRealty.com.
Waterfront property on Lake Pend Oreille and the Pend Oreille River has continued to hold its value, with sales figures actually showing improvement from 2008. Year to date in 2009 we have seen $7,528,750 in closed and pending sales on the Pend Oreille, compared to only $2,406,500 from January through July in 2008. This is sure to be a shock to most people!
Most of my clients looking for waterfront property are interested primarily in 'Class A waterfront', meaning deep water property on the Pend Oreille- Lake or River. So for this market research I decided to leave out all the tributaries, smaller waterways, and the smaller lakes in the area (although these represent some good value right now).
Over the years this type of waterfront property has always maintained its value, with significant reductions in price being rare. However keep in mind that 2008 was a soft market as well, so there have been some diamonds in the rough (great buys) in both 08 and 09.
Most people have a preference for either Lake Pend Oreille or the Pend Oreille River, so I searched the MLS data separately for each. I should also point out that the MLS considers the 'River' anything west of the Long Bridge, which includes much of South Sandpoint.
Pend Oreille Lake: YTD Jan-July 2009
15 closed and pending sales for total sales volume of $5,508,750.
Average list price $808,000, avg sold price $688,000 = buyers paying 85% of list price on average
235 Days on Market
Ranged from $205k sale of Driftwood condo to $1.25 million home.
Lake: Jan-July 2008
10 sales, volume of $1,345,000
Avg list price $699k, avg sale $448k = 64%
$182k condo on low end to $680k home on high end
Pend Oreille River: YTD Jan-July 2009
7 closed and pending totalling $2,020,000
Avg list $661k, avg sale $505k = 76%
72 Days on Market
$319k low end for 1400 sft home in Wrenco, $895k high end for 3700 sft older home in town
River: Jan-July 08
5 closed at $1,061,500
598k avg list, 530k avg sold, 88%, 39 Days on Market
Range 363k to 698k
All of the above considers only residential property on the water, not vacant land which I will comment on in another post. Land has indeed dropped further in the past year, with sales volume way down for all land in the county. This is likely because the prices for finished homes are often lower than the cost of land plus construction at the moment.
Another important component is that there are indeed some very good values. For example I just helped a client find a nice home in Garfield Bay with phenomenal views to the Green Monarch, a dock, with 100 front feet for just $475,000. The key is being ready to move when the right property does come along, and working with an agent that is willing to put in the time to find these values. On the other hand, the data shows that prospective Buyers should not necessarily expect to find crazy rock bottom prices for the best waterfront in this area, just because the rest of the market is soft.
To search for waterfront property in the Sandpoint area: http://www.sandpointresortrealty.com/all.html
I look forward to discussing the waterfront market with you, and better yet hopping in the boat to go on tour. Contact me at 208-304-5665.
Yappy Hour is a new Sandpoint event which is essentially a happy hour where you can bring your dog with you. This is a concept that was started by my wife when we lived in Santa Barbara, CA and that really took off. There are too few places where dogs are allowed and even welcomed. The first event here in Sandpoint was hosted by the Ponderay Vet Clinic at the Dog Park. This second event will take place at Dover Bay Resort from 4-7p on July 30, in the lawn between the Cafe and Pool.
Admission is free with a cash bar and other refreshments available. Donations are welcome, with all monies going to the Panhandle Animal Shelter, our local no-kill shelter.
The concept of Yappy Hour was inspired by our paralyzed pug named Molly, who very sadly passed away last week at the age of 8. The original events were fundraisers for the Molly Inspires Foundation, which provided character education in elementary schools and a resource for owners of special needs dogs like Molly.
Our dog Molly was born with a twisted spine that caused paralysis in her bottom half from about 3 months old. Vets told us that she would not live past 1 year due to the bladder problems and infections that would result, and they recommended putting her to sleep. We kept her anyway and basically did whatever it took and spent big dollars to keep her plugging along.
Molly's spirit will be with us forever. She changed our outlook on many things in life, teaching my wife, myself and countless others the meaning of gratitude, acceptance, and courage. Tough to imagine a dog doing all this, but our relationship with Molly led to many things and truly changed our world. Mandy and I would not be the parents we are today or the friends we are today without having experienced this.
This coming weekend is the big event of the year for Dover Bay Waterfront Resort, the waterfront residential resort community located 2 miles down the bike path from Downtown Sandpoint. The weekend is supposed to be nice and sunny, and its a great time to come check out this emerging resort community and to see friends. There will be live music, games, displays by local craftsmen, and great giveaways at all the open houses.
Schedule of events and information for Dover Bay Days Scheduled Activities Saturday
8:00a - 2:00p Volleyball tournament
11:30p - 2:30p Music in food area between café and fitness - Inbred Goat Ropers
12:00p - 3:00p Potato Sack Races and other kids activities on the Marina Town Lawn
Sunday
11:30a Tomlinson Bear arrives
2:00p Concert in the park - Swing Band
4:00p Music ends
All Day Activities
⎯ Boat and ATV Demos from Sandpoint Marine and Motorsports
⎯ The following vendors will be serving food and beverages all day in between the café and fitness area:
o Dover Bay Café
o Dover Bay Beer Stand
o The Flatbread Pizza Company
o Papas Mini Donuts
o Aurora - Shaved Ice
o Kettle Korn
o Big Bear Chocolates
o Variety of food from Mountain Sensations
o Fruit cups and Pesto Tortellini (Sunday Only)
⎯ Croquet and other grass games at Parkside Bungalows
⎯ Magic Show for kids at the Little Lambs booth every hour on the hour
⎯ Juggling lessons at Waldorf School booth
⎯ Jump-a-lot
⎯ Open Houses with prize giveaways at Parkside Bungalows, Marina Town, Bayside South, Cottages at Dover Meadows, Beach Bungalows, Fitness Center, Cafe, and Discovery Center.
For more information on Dover Bay and any of its real estate offerings, visit www.SandpointResortRealty.com or call me at 208-304-5665.
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Broker specializing in waterfront, ski, and resort real estate, including new construction and land. 15 years experience in the resort business. Manage Schweitzer Ski Resort Discovery Center.
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