In real estate, water means “add the zeroes.”
Waterfront and water view homes always fetch more money. Unless the view is of a watery toxic waste dump, maybe. The reasons are obvious and fair, and the homes themselves tend to get bigger and nicer the closer you get to the view. Still, it can be baffling to see prices skyrocket within the span of a couple of blocks, or even as you walk a few steps up the sidewalk.
You can see this trend anywhere, but for the sake of fun, let’s zero in on Majestic View Estates, a curious little pocket neighborhood located south of Interstate 90 off Pleasant View Road, near the old outlet mall.
Entering the neighborhood via Highwater Drive, the houses seem to be fairly standard, 90s-era middle-class homes typical of Post Falls. Perfectly pleasant. But just two blocks in sits a lineup of beautifully maintained homes that sit directly on the Spokane River. From the few peaks you see from the street, it’s a particularly beautiful stretch of the river.
Give the neighborhood one thing — it offers a variety of homes at different price points. One block into the development, a home with three bedrooms and more than 1,800 square feet was listed at $206,000 last summer and sold at an undisclosed price. Nearby, a four bedroom home with more than 2,200 square feet was listed around the same time for $185,000. Another similar property a few houses down also sold last year at a similar price.
On the next block in on Majestic View Drive, across the street from waterfront properties, a home sold last fall with a listing price just under $300,000. To be fair, the four bedroom house was bigger — it featured oversized bedrooms and more than 2,600 square feet.
Just a few houses down from that home is a home currently on the market listed as secondary waterfront with six bedrooms and more than 5,800 square feet. The listed price? $529,000.
Finally, a four-bedroom waterfront home with more than 3,300 square feet is currently listed at $350,000.
Not many neighborhoods offer such a lineup of homes, but waterfront views tend to be X-factors when it comes to price.
But enough with the obvious. Regardless of whether you live close enough to see the water, Majestic View Estates offers a number of conveniences to residents. For one, there’s speedy access to Interstate 90 without the freeway noise. It’s also a one-minute commute to the area’s numerous industrial and miscellaneous businesses, including Buck Knives, Raycap and the Tedder Business Center, which now occupies one entire side of the former outlet mall complex.
The neighborhood is also near the North Idaho College Workforce Training Center, which offers a diverse collection of community education and job training. Visit www.NIC.edu/wtc for more information on programs.
Even if you can’t afford a waterfront home, the mountain views are nice (most everywhere in North Idaho is that way, lucky us), and you can hit up nearby Corbin Park for some free river viewing. The 28-acre park offers river access, a softball field, disc golf course and more. It beats leering out your car window while inching down Majestic View Drive. Sorry, folks.
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Let us know about more standout neighborhoods and developments that we may feature in an upcoming Neighborhood of the Week. Contact Tyler Wilson at email@example.com.
Real Estate Agents, take advantage of Neighborhood of the Week by sending in your suggestions for featured areas, including sites outside the normal confines of Coeur d’Alene, Post Falls and Hayden. Also, return my calls. I’m a pleasant person to speak to on the phone.