Quote:
Originally Posted by erk
Just got back from a week at Lake Coeur d'Alene ID and I'd say lake front properties are 15 - 20% higher there. It's a beautiful area but I'd take Lake Winni any day!!
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Ah but you have to look at the entire picture not just sale price. Property taxes out there are a fraction of what they are here so while the cost to get in may be higher the cost to carry is far lower. So long term a better value in my opinion even with a higher sale price. That is what keeps property prices here to some degree in check as they are very high comparatively speaking with a few exceptions. They (Idaho) also have the homestead exemption on primary residences which lowers the total assessed tax value. The calculation is 50% of assessed value capped at 100k in total reduction. Due to the increase in property values they are looking to increase the cap amount or have it adjust based on average market conditions year to year.
It is a beautiful area out there.