Frequently Asked Questions
Over the years I have been asked many of the same questions by buyers of Chautauqua Lake & County Real Estate. This page is an attempt to answer many of the most common questions. E-mail us anytime and I will answer any specific questions you have.
What is lake access, deeded lake rights, lake rights etc?
What is the average sale price of a Chautauqua Lakefront Home?
Is purchasing a lake home a good investment?
Are there better locations than others?
Are there any waterfront lots available?
How much of a down payment do I need?
Do I need an attorney to close?
Who owns these homes and where do they come from?
Is there a better time of year to purchase than others?
Can I rent out my Chautauqua home, how much will I get?
How far is to Holiday Valley, Peak N Peak and Cockaigne?
Are the roads around the lake plowed in the winter?
Can I hire people to maintain my home?
How is the crime around the lake?
What does dock space cost at a marina?
Is there winter storage available for my boat?If I want to add on or renovate do I have to get a building permit?
How big a boat can I put on the lake?
When do I have to take it out?
What do you do around here for fun?
What is the Chautauqua Institution?
Is Bemus Point the middle of the lake?
Is the Casino really a gambling casino?
Are there public docks in Bemus Point or Mayville?
Can I ride my snowmobile on the roads?
What does the name Chautauqua mean?
What about Bear, Cassadaga, Erie & Findley Lake?
--------------------------------------------------------------------------------What is lake access, deeded lake rights, lake rights etc?
As you investigate the purchase of a home on or around Lake Chautauqua you will come across the terms:Lake Front: Self explanatory and the most valuable of all lake related properties.
Canal Front: Homes located on the canals around the lake. Example: Vukote, Keller Road, Mill Road, Shore Acres. Affordable water properties generally under $125k. Almost without exception you can dock your boat outside your door.
Lake Access: An overused marketing term. Anybody from anywhere in the world has "lake access" to any public lake. In Chautauqua terms you are in an area with a cut thru that allows possible pick up and drop off but, no dock slip. Very little value added to the Real Estate.
Deed Lake Rights: Generally means you have in your deed access to an area of the lake that allows you to have a boat slip and possibly a shared or private dock. DLR's are thru neighborhood groups or associations. Sunset Bay on Rte: 430 and Sunrise Cove on Rte 394 are examples of Deeded Lake rights communities. A yearly fee maybe involved. There is value added to a home with deeded lake rights.
Lake Rights: Is interchangeable at times with deeded lake rights. It is best to investigate and possibly put a contingency in the contract for sale asking for a complete understanding of the meaning. Many old homeowners have been surprised to find they have no lake rights they just got along well with the neighbors over the years and developed a camaraderie that allowed a dock, boat slip etc. Only to find when they went to sell the home there was no legal conveyance of that enjoyment. Which affected value.
[top]What is the average sale price of a Chautauqua Lakefront Home?
From 1/1/2005-1/9/2006 there were 55 Chautauqua Lakefront sales. The attached averages do not take into account lake rights, condos/town homes, canal fronts or land or community owned lake frontage. The figures reflect single family homes with lake frontage only. The average LF home sale in 05 had 87 linear ft of water frontage.
COMBINED AVERAGES: Adjusted Price $443,592 List Price $443,592 Closing Price $405,415 Bedrooms 3 Full Baths 1 Half Baths 0 Est Sq Ft 1,763 DOM 101
DOM refers to Days on Market. This is from the time a home is listed till it closes.
A home can get an accepted offer day one on the market and take 4 months to close because of complications with financing, title etc. The average closing time for an accepted offer is 60 days. If you would like a more detailed breakdown that would include all sales associated with the lake not just lakefronts contact me. [top]
Is purchasing a lake home a good investment?
Yes, They don't make it anymore. No one is digging a hole and filling it with water. We are within 2-4 hours from 5 major metropolitan areas. Land on the lake is getting developed or being purchased for conservation which drives what is left up in value. It goes up gradually with an occasional spike so, over a 3-5 year look back your investment in fun will pay off. Plus, you have demographics on your side baby boomers are buying and we'll continue to do so for many, many years to come. [top]Are there better locations than others?
There are NO bad areas. As with any real estate market there are more desirable areas than others. The whole lake is nice and each community has something to offer. As I help you guided by your preferences I will explain the pluses and minuses of each location your interested in.
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Olive Garden Makes First Pitch
October 27, 2011
By Dennis Phillips (dp) , The Post-Journal
LAKEWOOD - The site plan for the proposed Olive Garden re... Read More "These Are Days: 10,000 Maniacs 1981-2011" will open in the 3rd On 3rd Gallery in Jamestown on September 9 and run through October 29. (Submitted Photo)... Read More When: Saturday, October 29th, 2011
While bats are fascinating creatures, many people are afraid of them and don’t understand how helpful they are. On Sa... Read More
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Olive Garden maybe coming to Lakewood
“These Are Days: 10,000 Maniacs 1981-2011” 30th Anniversary Exhibition: thru Saturday, October 29th, 2011
“Bats of the Night” at Audubon: Saturday, October 29th, 2011
