For the most part the League City area has been spared from the flurry of foreclosures that we read about daily. We do have foreclosures but they amount to less than 1% of the properties on the market. Its even more rare for two waterfront homes in popular communities to be in foreclosure. 4 Mariners in Waterford Harbor and 115 Blue Water in Marina Del Sol are two recently built waterfront homes that were foreclosed on and put on the market. Both properties are priced well below market.

4 Mariners – Waterford Harbor  -  3884 sq.ft.  – 4 Bedrooms - 3/1 Baths
Custom home built by Masterpiece in the gated subdivision of Waterford  Harbor. Viking appliances, exterior pool with flagstone. Property needs exterior paint but the interior looks to be in good cosmetic condition. Waterfront with walking access to pier 19. Listed By:USA Asset Group

List price – $669,900   Galveston County Assessed Value – $772,000  Last Purchased for $866,000

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115 Blue Water – Marina Del Sol – 4489 sq.ft. – 4 Bedrooms – 3/1 Baths

Custom Home built in 2006 by Dan Wallrath  in Marina Del Sol.  Waterfront on canal with direct access to Clear Lake. The home looks to be in move in condition. Recent sales in the area have went well over $175 a foot. Listed by: J.D. Rankin

List Price – $734,900 Galveston County Assessed Value – $603,222   Last Purchased for $796,000.

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People who have lived in our area for years will question how “affordable” real estate is in the Clear Lake/Galveston area but compared to the rest of the national our waterfront is very cheap. The addition of a number of high rises in Clear Lake will only future increase the values.

You can still get condos under $100k in Clear Lake with waterfront, and homes as low as the 150’s. We just listed a property off the a back bay of Clear Lake with almost an acre of land and a boat slip for $300k. Many people want “in” on the next big thing, water is the next big thing. You do have to watch insurance rates but they are still affordable. With condos you need to look at the financial stability of the association which is shown on the resale certificate.

Many low end waterfront condos are lacking in funds to complete repairs and the insurance rates in some areas have doubled. How many times have you heard “location, location, location”. Water isn’t going any where but the prices will rise in the near future.