Last Saturday, I was out with a lovely couple looking for homes on the water. The property they seemed most interested in was a property I was all to familiar with and had looked at for myself some years back. I asked them if they minded if I pulled other homes in Lynnhaven Colony, Bay Island and the surrounding areas. I then decided that since water front was important I would throw in a few attached (town home style) condos on the Bay front.We saw detached homes from 2000 SF to 4,000 SF on bulk-headed parcels ranging in the 700′s to 800′s. These homes were all well over a million just 2 years ago. Two of the three detached properties also had in-ground pools, and more than ample space for docking multiple boats, a plus for my client. I think often times some of the bulk-headed properties are great, but offer little privacy and not the kind of expansive views you were looking for.
So we then took off to see homes on the Bay. I thought they could get a feel for what their budget could buy them on the Bay and in terms of views. . Our first stop was Ship’s Watch a gated bay front community off Ocean Shore Avenue just down from Lynnhaven Fish House. This is a lovely town home style condo community offers Two story (not on the Bay) range in the $385,000+ range and three story units with BIG BOLD BAYFRONT views from all three decks. The prices of units on the bay ranged from $624,900-637,900. Some years back I made an offer on a bay front unit listed at $799,000. So to have prices down $175,000 is AMAZING. And if you haven’t seen the bay views from here, you’re missing quite the site.
We then went down to Evangelines Way off Page Avenue. This property had BIG BOLD BAYFRONT views, and all the bells and whistles, from lavish baths, to exquisite kitchen finishes and upgrades to an elevator in every unit. One is listed at $2,250,000 (on the bay). The bay front unit we looked at was being marketed at $1,395,000 but the same unit could be built (with the same amenities) for $759,000 (NOT on the bay with no water views).
So, we then tracked over the Lesner Bridge into Ocean Park and viewed a duplex style condo on Jefferson which was being marketed at $698,000 and was located on the bay. We were disappointed though, as the dune in front of the house was so big that we couldn’t see the smallest glimpse of blue water and this unit consisted of the 1st and 2nd floors. Apparently, the other unit had the 3rd floor, and all the views. The hardwoods were nice, however the kitchen had teal counter tops and dated cabinets. Since views were important we didn’t even stay to look at the first floor.
We finished our tour in Chicks Beach at a jewel hidden down a narrow lane off Ocean View Ave. This was a pleasant surprise as well. The design of the building optimized the bay views which could be seen from any of the rooms. This unit was listed in the low $700′s.
The tour gave us all a very good idea of value and the price of a view coupled with amenity. If you’re considering a waterfront move in the next year or so, I would consider making the move now. You will not see prices for waterfront properties this low for many years to come.
I live, bike, boat and love it here, and I know you will too. Call me for a tour of the area! We can do it by bike or boat.