- Much of NWA’s growth and desirability may be attributed to our flagship Beaver Lake. Beaver Lake provides us with our drinking water, offers us a plethora of recreational opportunities and lots of fascinating history.
Property on and around Beaver Lake has continued to see a major increase in value over the last 15 years. Let’s take a look at what factors can increase your property value on the lake.
Many landowners own lakefront property although the Corps of Engineers maintains ownership of the lakeshore and allows limited access to said, landowners. When accessing the lake through the Corps, the boundary pedestrian path to the lake is permitted, but it must follow a meandering route to prevent erosion and avoid the need for the removal of trees, vegetation, or leaves. The path must also be less than 4ft wide. No landscape lighting is permitted, and trees larger than 2 inches in diameter measured at ground level may not be removed. The maximum mowing radius is 100 ft from the foundation of a habitable structure to the land, and dead trees and broken limbs require a permit to be removed.
The biggest indicator of your property value may lie within the zoning as only 27.4% of the shoreline is dedicated as dockable. The moratorium was put into place in 2015 with the Corps of Engineers not allowing any new permits for boat docks. Although the Corps is not allowing any more new permits for boat docks, a landowner with proper zoning may purchase an existing permit from another landowner on the lake. This allows for the relocation of the existing dock to the new property. At NWALook, we are seeing permit values between $40,000-$80,000 per permit. NWAlook’s research and NABOR data indicated homes with a private dock closed for a median of $393/ per sqft, while those with only lake frontage closed for a median of $254/sqft, resulting in a $139/ per sqft difference. As NWA continues to experience growth, we can anticipate that owning a dock will become even more valuable.
Knowing the details concerning zoning as well as Corps management practices are important when analyzing lake properties to determine value.