Some Prospective Buyers Don’t Even Look at the House; They Plan to Tear It Down
By: Kathleen Willcox
Warren County: Lake George 12845
47 Halcyon Lodge Road, Lake George
-4,153 square-feet, 3-boat dock
-4 bedrooms, 5 full baths
-Karen O’Carroll, Davies-Davies & Assoc. Real Estate
Love Saratoga, but craving something a little more country with an emphasis on nature? Lake George is the obvious alternative. Thought it’s just a short trip up the Northway, the real estate market in Lake George is, in some ways, the polar opposite of the market in Saratoga.
“People just buy for the land in Lake George,” Julie Snyder of Reality USA explains. “They are completely focused on getting property on the lake itself, and they have very particular preferences for either the west side or the east side. Some clients don’t even bother going into the house when I bring them to see it because in their minds, it’s irrelevant. Many buyers on Lake George these days are going to tear down the existing structure and rebuild to their specifications.”
The starting bid- before the tear down and rebuilding begins- is about $1.5 million, Snyder says. Last year, 27 homes on Lake George sold for more than $1 million and nine sold for more than $2 million, the best year anyone has seen in years, perhaps ever, she says. One lakefront home that recently popped onto the market at $1.97 million looks like even the most particular client would be able to move right in. The 4,153-square-foot light-filled home was built in 2008 and features a U-shaped crib dock with room for three boats, four bedrooms, five bathrooms, vaulted ceilings, stunning decks and balconies, a patio, three-car garage and views of the lake and mountains.
As on Lake George, buyers of properties near Saratoga Race Course, off North Broadway and elsewhere in Saratoga Springs sometimes tear down the old house and build their dream home on the same lot. Location, location, location is the mantra.