River & Rural Realty--Find Virginia Waterfront property on the Northern Neck
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River & Rural Realty LLC
P.O. Box 503
Warsaw, VA 22572

Office: (804) 333-3311

Kathryn Murray, broker
Warsaw, VA 22572
(O): (804) 333-3311
Cell: 804-450-4442
Fax: 877-295-0940
EMAIL OFFICE
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Water view and water access homes

Our MLS system allows us to enter listings in a number of ways. There are waterfront properties (either residential or land) as well as water view as well as water access as well as non-waterfront. What ideally this would mean is that any property that is waterfront is put in as such. That works out pretty well. That is clear cut. It is the other designations that can get a bit cloudy. (For residential waterfront the letter that precedes the MLS number is "R.")

Waterview is pretty clear cut too....mostly. What that designation doesn't tell you in and of itself is whether there is anything that comes with that view. It may be that the property in question obviously is not waterfront, has a view but does not have any special amenities associated with it. That's certainly fine, although a lot of the time those who want a water view also want the amenities. So look carefully at a waterview listing to determine all of its attributes. (A residential listing that has been put in as a waterview has a "V" that precedes the MLS number and "A" precedes the access MLS number.)

Water access is just that, water access. In my book it means that there is private access to water amenities. That isn't the way that everyone in our MLS sees it and I have seen listings where the access is a public boat ramp at the end of the street. Again, read the listing and understand just what the property has to offer.

With that bit of a preface I decided to look at how water view and water access properties have been selling in the Northern Neck. This isn't a category that I write about very much. This may be helpful to some of you looking for property. I hope so. Four counties of the Northern Neck, including Richmond, Lancaster, Northumberland and Westmoreland.

Water view & water access residential
  Sold 2015 Sold 1/1/2016 to 4/12/2016 Active property
# sold 46 11 81
$ sold (millions) 7.5 1.6 16.0
Median sales price 148,000 149,500 179,000
Median days on market 146 243 213

In 2015 the solds were selling with median days on market of 146. Now, thus far in 2016 that number has increased to 243. Also the active properties are now with a median of 213. The number of properties sold thus far in 2016 suggests that we should be able to keep up with 2015. Obviously we have a fair number of actives at 81, although in the scheme of things....a bit more than two years' worth of inventory is pretty reasonable for around here.

We're selling. We still have plenty to sell. If my experience is any gauge, the prices on many of those properties that have been on for a while are quite good. In Glebe Harbor, a subdivision that has a large pool, tennis courts, sand beaches and a great boat ramp, I have a house that is a fairly recent Cape. It is three bedroom and three bath. Nice open floor plan in the kitchen, living and dining area.....$149,000 (185 S.Glebe). The seller has brought the price down to the point where this would be a great deal for someone looking to be in a waterfront subdivision who didn't want to spend a lot of money and would have newer construction. You never know....this might be the one for you!!!



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