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Questions Lake Buyer often ask Over the years we 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 me anytime at tony0046_us@yahoo.com and we will answer any specific questions you have.
In no particular order starting with questions most asked about Chautauqua Lake Real Estate.
What is lake access, deeded lakerights, 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 $200K. 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 on 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 right communities. A yearly fee maybe involved. There is value added to a home with deeded lake rights.
Lake Rights: Is interchagable 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 camraderie 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.
What is the average sale price of a Chautauqua Lakefront Home?
From 1/1/2004-1/09/2005 there were:
50 Chautauqua Lakefront sales. The attached averages do not take into account lakerights, condos/townhomes, canalfronts or land. The figures reflect single family homes with lakefrontage only. The average LF home sale in 04 had 79.66 linear ft of waterfrontage.
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 5 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 at tony0046_us@yahoo.com I can also provide you with info on Findley, Cassadaga, Erie & Bear Lake.
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. Chautauqua Lake property does not appreciate like a hockey stick. 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 babyboomers are buying and we'll continue to do so for many, many years to come. Then with the educated Gen X'rs making good money and inheriting from babyboomer mom and dad who hopefully got some from the greatest generation I get shivers just thinking of the transfer of wealth. So, yes it is a good investment. And remember:
Once upon a time buying a second home was something only the very rich and influential could afford to do. Not so anymore. Today the real estate market has become more and more accessible (and affordable) for those interested in purchasing a second home.
A second home is considered to be an investment due in large part to the fact that it provides a tax break, much like a mortgage-interest tax deduction. It is also a way to diversify assets out of stocks. And if the homeowner (s) should decide to rent the property instead of live in it themselves, they will not only collect extra income, but may also be able to deduct depreciation.
Beyond the financial incentives, are there other reasons to buy a second home? Of course! Some people are looking for more than an investment, instead they see a second home as leisure. And why shouldn’t they?
The prospect of buying a second home can be an exciting one. A “home away from home” offers people the opportunity to escape for the weekend or a vacation with family in a relaxing, less stressful environment than they are accustomed to in their day-to-day lives. The idea of ‘splitting their time’ between two residences is a very attraction option to many. Others still are thinking ahead to their retirement days and would like to retire somewhere warm (especially those who live in areas with harsh winters).
More people choose the location of their second home based on where they truly want to live because it is a spot that is near and dear to their heart. While a first home might have been purchased in a particular area due to financial considerations, proximity to school, work, amenities, family members etc., a second home can more than anything be what, and where, the owners want it to be. No longer is the concern how close you are to bus routes, the office, the shopping mall, your children’s doctors and dentists but now blissful enjoyment takes over. That is why many think of owning a second home as a dream come true.
There are certain locations that are most popular for buying a second home. These areas include the seaside, lakeshore and mountains. Many people yearn for solitude and fewer crowds; others thrill at the idea of bubbling brooks and the sound of birds; while still others are concerned with warm temperatures and how often the sun shines.
Whatever your priorities, rest assured that there is a second home that is just right for you. Leisure time can take on a whole new meaning (and a much greater one) once you can use it for all the things you’ve always wanted to do. A second home can provide all that, and so much more.
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 and price range I will explain the pluses and minuses of each location your interested in.
What is the minimum amount I can purchase a 2nd home for?
Waterfront on the lake at the southern tip 100-125k bare bones minimum rare but, can be done.Off the lake with lakerights 55K would be about the minimum. Keep in mind this is not a science what I'm saying is purely a guideline. You should really expect to pay at least 150K+ for a modest lakefront on a small lot.
Are there any waterfront lots available?
Yes, they are becoming very rare and very expensive you can anticipate paying in the low to mid 6 figures for a lakefront lot.
In 2004 The average linear foot $ amount for lakefrontage without a home was $2,197. There were 6 recorded lakefront lot sales in 2004 in the Chautauqua Multiple Listing Service.
With a home included the linear foot $ amount is $4,365.00
How much of a downpayment do I need?
Lakeshore Savings will do a vacation home mortgage for 5% down. That is the minimum we've ever seen. If you can get a downpayment for less on a second home please let me know I am always looking for good lenders.
How much does it cost to build?
That is a question with a very broad answer depending on a plethora of variables. You can use as a guide approx: $110.00+ a sq foot plus the cost of land.
Are homes being built?
Most towns are seeing a rise in permits: This information was posted in the Post Journal 9/4/2005
New homes By Town
Busti: 2001-2005 average: 15 new homes a year High: 17 Low: 13
Chautauqua: 1999-2005 average: 27 new homes a year High: 33 Low: 21
Ellicott: 2001-2005 average: 15 new homes a year High/Low: 15
Kiantone: 2001-2005 average 32 new buildings a year includes homes, business buildings, warehouses, factories etc.
Hunt Road in Busti has 40 new housing units (Shadow Creek) going in over the next 1-3 years. Havercamp Road in North Harmony will build the first phase of 10 vacation homes to be completed by late 2006 or early 2007. The village of Lakewood will see approximately 13 homes ranging about $250,000 each which will be built atop the former Lakewood Elementary School site. Bemus Point should see the start of a new Condo complex between the Surf Club and the Hotel Lenhart sometime in 2006.
If I want to add on or renovate do I have to get a building permit?
Outside yes, Inside maybe most likely no. Your contractor can give you an informed opinion.
Do I need an attorney to close?
Yes. You want to use a local attorney your transaction will go much smoother. The Real Estate market in Chautauqua County is a fairly small group of affiliates. Everyone knows of one another and as situations arise in transactions many times personal relationships can get problems resolved quickly. If you do not know a local attorney I can refer you to a number of very pleasant competent ones.
Who owns these homes and where do they come from?
People from all walks of commerce.
They come from area such as New York,Pennsylvania,Ohio and Canada.The clientele find that it is only 2-3 hours away by the time your tired of driving your here, so the Chautauqua County Lakes region makes for a great weekend getaway.
Why is a seller selling?
Sellers sell for many reasons primarily two reasons 1) They move up to a larger vacation home.2)Or the children have grown and they just don't use Their vacation home as often as they once did. But during my years of experience many of my clients have expressed fond memories of their children, family and friends enjoying their days spent at their lake homes.
Can I get a steal or forclosure?
You can get a better deal than what you may have anticipated. Keep in mind these homes are toys a very expensive toy but, a toy. Sellers don't have to sell anymore than you have to buy. Forclosures are unheard of in this market. All the homes sell maybe not for what the seller wants but, you as a purchaser can expect to pay a fair market value which as you look at homes you will educate yourself as to what "fair market" is.
Is there a better time of year to purchase than others?
Not really, prices do not fluctuate season to season. Inventory can take a traditional spike in the spring, summer and fall. The winter you tend to face less competition for a listing and if you like a place in the winter you'll love it in the summer.
Can I rent out my Chautauqua home, how much will I get?
Yes, rentals are a large part of the lake economy. Our company Real Estate Advantage Realty and a number of our competitors have fulltime employees who just handle rentals please refer to our partners website www.richardlakefront.com for more information. Rental amounts are determined by location, size and number of people you can sleep. You can anticipate in season to get $800-$2,000 + per week for a Lakefront with dock. The average is $1,200.00. Off seson rentals are spottier but, a steadily growing market.
Weekly rentals are prohibited in R-1 districts in the town of Ellery. 4 to 5 areas in the town of Ellery do allow weekly rentals with a permit.
If you want to rent your property we will be happy to help you once we have a specific property to talk about.
Rental service charges are available upon request.
How far is to Holiday Valley, Peak N Peak and Cockaigne?
40 minutes to the Peak www.pknpk.com and 45 minutes to Holiday Valley www.holidayvalley.com from the Rte. 394/86 interchange. Cockaigne www.cockaigne.com is about 15-30 minutes from Chautauqua Lake.
Which makes a home on Chautauqua Lake ideal for year round enjoyment.
What about weeds?
Weeds are being addressed on many fronts by private and goverment agencies. It is an indepth subject with many view points.My experience over the past 19 years of being associated with the lake is that there are many good people working hard to address the weeds and other quality of life issues that affect the lake and local economy. The subject is much to broad to cover on this page. Please refer to www.chautauqualake.org , www.chautauquawatershed.org
Also the local newspaper has archived articles on the subject.
www.post-journal.com
I will say that the economic impact Chautauqua Lake "The Golden Egg" has on the local economy is enormous and getting bigger. The tourist dollars and real estate taxes generated are in the millions upon millions of dollars. It serves everybody to have the lake as healthy a recreational area as possible.
How is the Fishing?
Great! Chautauqua Lake is known for being one of the finest fishing lakes for certain species in the Northeast and country.
Please click on Community Info/Links and scroll down to Fishing for complete info.
How is the Golfing?
We were voted by Golf Digest:
The Best Little Golf Town in America !
It is said that you can play 30 days straight within a 1 hour radius of Jamestown and never repeat the same course. Please click on the CommunityInfo/Links and scroll to Golf for more info.
Also check out www.wnygolfcourses.com for more info on courses and round fees.
Are the roads around the lake plowed in the winter?
The public roads are very well maintained in the winter. The towns and state have had centuries to perfect their skills. They are prepared for snow! Private roads are a case by case basis. Most are plowed by a resident or a formal or informal association of neighbors. If you want a driveway plowed there are countless people who will do that for you for a very reasonable fee. Ask me for referrals.
Can I hire people to maintain my home?
Yes! Anything you want done there are numerous competent people to do it for you.
How is the crime around the lake?
There is none. Other than an occasional drug bust, D or BWI it is a very safe quiet area.
How many marinas are there?
Approx: Nine. Eight that do sales, repairs & dockage. Smith Boys and Holiday Harbor are the biggest. Long Point State Park is # 9 but, it just sells gas, supplies and boat slips. Please click on Community Info/links and scroll down to Marinas & Boating for more detailed information.
What does dock space cost at a marina?
You can expect to pay around $20.00 per foot. Additional services such as winterizing, cleaning, winter storage, shrink wrap are all extras and generally priced on the length/size of the boat.
Are there public boat ramps?
Yes. Almost every town has one or more public boat ramps.
Is there winter storage available for my boat?
Yes. The marinas can handle your boat bow to stearn. There are also building and barn owners who store boats for the winter. Costs are generally determined by length of boat and services desired. We dock at Ashville Bay Marina. We do nothing with our boat except get on it in May and off it in September/October. They take very good care of us for a reasonable cost. Before the Marina we stored the boat in an Amish barn for $150.00 for 6 months then he decided to turn it into a sawmill. (That was a sweet deal we still cry about it).
How big a boat can I put on the lake?
As big as your pocket book and ego can afford. I would guess most boats on the lake are between 20-25ft. Pontoon boats are very popular.
When can I put my dock in?
As soon as you can stand the cold water. You can also hire it to be done.
When do I have to take it out?
General understanding is by November 1st.
What do you do around here for fun?
Please click on the "Community Info/Links" button on our home page and everything you want to do is on it.
What is the Chautauqua Institution?
A fantastic place to spend a day, a week, a month or the 9 week summer season. Also a good place to invest in Real Estate.
Please click on the "Community Info/Links button on our home page and scroll down to Chautauqua Institution for a complete guide or click on www.chautauqua-inst.org for answers to the most asked questions.
The Chautauqua Institution is a not-for-profit, 750-acre educational center beside Chautauqua Lake in southwestern New York State, where approximately 7,500 persons are in residence on any day during a nine-week season, and a total of over 142,000 attend scheduled public events. Over 8,000 students enroll annually in the Chautauqua Summer Schools which offer courses in art, music, dance, theater, writing skills and a wide variety of special interests.
The Institution, originally the Chautauqua Lake Sunday School Assembly, was founded in 1874 as an educational experiment in out-of-school, vacation learning. It was successful and broadened almost immediately beyond courses for Sunday school teachers to include academic subjects, music, art and physical education.
While founders Lewis Miller and John Heyl Vincent were Methodists, other Protestant denominations participated from the first year onward, and today Chautauqua continues to be ecumenical in spirit and practice. Chautauqua's Department of Religion presents distinguished religious leaders of many faiths from this country and abroad, both as preachers and teachers.
The oldest continuous book club in America, the Chautauqua Literary and Scientific Circle (CLSC), has enrolled at least a half-million readers and at one time sponsored 10,000 reading circles throughout the country. The CLSC introduced learning by correspondence even before the School of Theology and Chautauqua University developed such courses. Its book selections are offered today with continuing education emphases. Chautauqua University functioned for approximately 12 years until other universities began offering summer courses. New York University conducted summer courses at Chautauqua for approximately 30 years, ending in the early 1950s, followed by Syracuse University and SUNY College at Fredonia. Now a wide variety of special studies attract vacationing Chautauquans.
By 1880 the Chautauqua platform had established itself as a national forum for open discussion of public issues, international relations, literature and science. Approximately 100 lecturers appear at Chautauqua during a season.
Music became increasingly important at Chautauqua, especially after the turn of the century. A symphony orchestra season became part of the regular program in 1920. The Chautauqua Symphony Orchestra, founded in 1929, now performs thrice weekly with leading soloists in the 5,000-seat Amphitheater, Chautauqua's program center. Popular entertainers perform other evenings. The Chautauqua Ballet Company also appears in the Amphitheater, sometimes with guest artists, while the Chautauqua Conservatory Theater presents its season in Bratton Theater. The Chautauqua Opera Company, also founded in 1929, performs in English in Norton Hall.
Chautauqua plays a unique educational role today, offering studies on a vacation level, a more serious level and a professional level. In addition, there are enhanced learning opportunities within Chautauqua's other programming. Music, the arts, religion, recreation and the pursuit of knowledge are all available. Younger and older students often share learning experiences in an open, congenial atmosphere. Children and young people are also provided with their own special programs.
The Chautauqua Institution is governed by a 24-member board of trustees, four of whom are elected by property owners. The board establishes the policies and direction of the Institution, electing the officers who are responsible for the operation of the Institution. Smith Memorial Library and the Chautauqua Institution Archives are open year round. Between-season conferences are held at Bellinger Hall, the Athenaeum Hotel and other facilities on the grounds.
,b.Is Bemus Point the middle of the lake?
I don't know if it is the geographic middle. But, it is the activity and fun middle. All boats and all roads around Chautauqua Lake eventualy lead to Bemus Point.
What is the floating stage?
The Italian Fisherman Restaurant in Bemus Point has a large stage that floats. From Memorial day thru Labor Day they host weekly concerts of all types that can be viewed from land or boat.
Is the Casino really a gambling casino?
No. It is a restaurant in Bemus Point that can be accessed from land or boat. If you do want to gamble the Seneca Nation Casino is right off Rte 86 about 30 minutes from Bemus Point. www.senecaalleganycasino.com
Are there public docks in Bemus, Mayville?
Yes, in Bemus Point they are located to the north or left of the Casino viewing the Casino from the lake. In Mayville they are outside the Watermark restaurant. Lakewood does not have public docks.
Can you swim in the lake?
If you know how I don't see why not. There are a number of good places to anchor your boat and go swimming around the lake where the water is 3-4 feet deep so you can relax and the kids can have fun. You'll hear some of these places referred to as "Sandy Bottom" the name implies what they are.
How is the water quality?
You can check it out daily on
www.co.chautauqua.ny.us
Can I ride my snowmobile on the roads?
If you see a green sign with a white snowmobile on it you can ride. There are hundreds of miles of roads and trails. It is estimated that Chautauqua County generates 19-20 million $'s per season in snowmobiling and that figure is growing.
Do you get a lot of snow?
Yes, Yes we do. Chautauqua County has had a number of years in the past 10 years that have been mild winters but, 2002 & 2003/04 we received a lot of snow. Great for snowmobiling, skiing, Ice fishing, cross country skiing.
If you enjoy plowing and shoveling snow you would have been in seventh heaven.
Do you have an airport?
Chautuaqua County Airport a tower controlled airport capable of handling a small jet is located in the town of Ellicott off West Oak Hill Road. It is serviced daily by a commuter line.
Dart airport in Dewittville outside of Mayville is a grass strip for recreational pilots.
Where can I eat?
There is an abundance of good places to eat and the competition is fierce. Check out www.chautauqua-dining.com for an overview.
What is the Summer Wind?
A dinner/lunch/special ocassion charter cruise that does multiple daily tours of the lake.Good food, spirits and music. www.summerwind.com or on our homepage click on the Summer Wind icon.
How big is Chautauqua Lake?
The mean elevation is 1,308 feet and the lake has an area of about 20 square miles. The distance from Celoron to Mayville is 14.7 miles. From the boat landing at Jamestown through the Chadakoin River (known locally as the outlet) to Mayville is 17.7 miles. The width varies from about 1000 feet at the Bemus Point-Stow ferry to two miles wide at three places. The upper, northern end of the lake is the deepest section from 20 up to 75 feet in the Long Point- Maple Springs area. The lower lake runs from 30 feet deep near Bemus Point to less than 10 feet near Celoron. The lake has approximately 45 miles of shoreline.
If 10ft doesn't seem like much. I said that to an old timer years ago, and his reply was, "its over my head".
What does the name Chautauqua mean?
It is a Senca Indian name. From above, the lake does resemble a long bag tied in the middle, and that is now the favored translation of Chautauqua. See our homepage for more information on " The History of Chautauqua".
What about Bear, Cassadaga, Erie & Findley Lake?
Very nice lakes which we service. Bear, Cassadaga & Findley are considerably smaller. They are about the size of a bay on Chautauqua Lake. Erie is and inland ocean and has a lot of cliffs on the NY side. Docks are impossible to put out and the roughness of the water can make small boat usage difficult. Homes on all those lakes on average are less expensive than Chautauqua they also don't have the market or appreciation Chautauqua Lake has. ALL the homes sell though. Findley has seen some good appreciation over the past few years driven primarily from its proximity to Peak N Peak. Findley is also a private lake owned by the Findley Lake Homeowners Association. No public access is allowed on the lake on weekends.
Contact me anytime about any lake in the county I work all of them.
Is Lake Chautauqua and Chautauqua County serviced by broadband (internet)?
Yes, both DSL and Road Runner Cable are available from Time Warner, Adelphia and Alltel some rural areas are serviced by one or the other most locations on or around the lake have both to choose from. Plus satellite is available.
I want to furnish my vacation home can I do it locally?
Yes, Jamestown, NY use to be known for its furniture manufacturing those days have gone south or overseas but, the retail remains. Crawford Furniture makes some mid to high end wood furniture plus there are numerous furniture retailers serving all price points throughout the county. When the time comes let me know and we will direct you to the stores.
Who do I call for Utilities?
National Fuel for gas 1-800-365-3264
NIMO for electric 1-800-932-0301
Certain areas on the south end of the lake are serviced by Jamestown City Electric (some of the least expensive electric in the country) 716-661-1660
Mayville and Westfield have there own electric service 716-326-4961 or 326-2145
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