Buying on Lake Wedowee

The real estate market on Lake Wedowee is ever changing. In the last five years, the Lake Wedowee real estate market has come full circle. Prior to 2006, the seller's controlled the market because of limited supply but that all changed drastically from 2007 to 2010. The market was flooded with properties and because of the economy and other factors buyers were scarce.
However, in the last 12 months, Lake Wedowee Real Estate Market has changed once again. Buyers have returned to the area, but for the most part are purchasing homes for much less than they would have in 2006. 
Values have leveled and inventory is adjusting.

It is still a  buyer's market and the perfect time to buy with a large selection of real estate listings. Prices are continuing to stabilize and interest rates are LOW!
   But, before you begin looking for real estate on Lake Wedowee there are several factors to consider:
  • Alabama is a Buyer Beware State, which means the buyer must inspect the property and satisfy himself it is adequate for his needs. The seller is under no obligation to disclose defects but may not actively conceal a known defect or lie if asked.
  • Randolph County does not have an inspection process for new construction or remodeling.
  • Permits are required for septic tank installation and are handled by the health department.
  • Docks, seawalls and anything below the 800 foot elevation line is handled by Alabama Power Shoreline.

When you are looking for property on Lake Wedowee, knowing what prices to expect is important. There are several factors that determine the price of a lake lot or home and the variation in price reflects it.
Some of the factors include:
  • Location
  • Water view
  • Road access
  • Availability of utilities
  • Size of the lot
The prices for lots can be anywhere from less than $100,000 to more than $500,000 depending on those factors. Prices for lake homes and cabins vary just as much. Again one of the main factors determining the price is location on the lake.  
Some of the questions to ask yourself when considering a home on Lake Wedowee include:
  • Does the home have seasonal water or is it year round?
  • Where is the home located?
  • Does the home have adequate accessibility?
  • Is it important to have easy access to the water?
Prices vary greatly for lake homes and cabins. With the market the way it is, there is not a typical price for lake homes. 
We make it a point to know the market.  It is our goal to find you the lake property that best fits your needs.

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