Wednesday, March 4, 2020

Richland Chambers Lake Level Nerd Alert!

If you've been on Richland Chambers very long you've seen  ups and downs, highs and lows and in-betweens.  Some folks came here and built just in time to see 5 tough years. While some have been here only long enough to enjoy very good years. One thing for sure, fluctuation is a part of life on RC Lake. Actually folks on pretty much every Texas lake experience fluctuation. When we have normal rainfall, lake levels are good.  Less rainfall means lower lake levels. It's really pretty simple. The Great State of Texas could not support even close to today's population without man made reservoirs catching the rainfall. The ability to store water in many places in the United States allows large populations to thrive. Our modern standards and lifestyle require vast amounts of the most precious natural resource we have, water.  Richland Chambers lake, like most every man made lake, has had its ups and downs depending on water falling from the sky.
Time on Richland Chambers can be measured by pre-March 11, 2015 and post March 11, 2015.

March 11, 2015 was the day the lake hit 315' and stayed after almost 5 long years of Texas drought. During the period from late 2010 to March of 2015 we experienced 3 of the lowest lake levels in the 30 year history of Richland Chambers. Then a lot of water fell from the sky and regularly continues to do so.
So here comes the nerd part... The average lake level during that time was 309', 6 feet low. Since March 11 2015 the average lake level has been 313', a level we can all appreciate. But,
Half of the time for the last 30 years Richland Chambers Lake has been less than 1 foot below Full Pool
The chart above is made up of 11,003 daily lake levels, dating back to Jan 1st 1990. The average of all of those levels is 313.01'. So can we say these last 4 years or so have been normal?
Since Jan 1st 1990 we have experienced 3274 days above 315' (full pool) and 5526 days above 314'.  
So half of the time for the last 30 years Richland Chambers Lake has been less than 1 foot below full. Think about that! 
313' and above - 6893 days and one more just for fun: 
Less than 3ft down, 8134 days or 74% of the last 30 years. 
So yes there have been and will be ups and downs in the life of the lake but remember, They built the lake here for a reason!

#richlandchambers. #richlandchamberslake  #richlandchamberslakelevel

Monday, January 27, 2020

Richland Chambers Market Update Jan 2020

Reflecting on 15 years of Market data for Richland Chambers Lake Property, we have survived Market Melt Downs, droughts and recessions.  We have thrived in a growing and budding community and have seen many changes in the Lake Area landscape.  New businesses and developments are popping up here and there around the lake. 
Three take aways stand out below:

           The Waterfront home market has been improving in recent years.
           The Waterfront lot market is on the same trend. 
           Lake Area Inventories are falling and prices are rising.
There have been many changes but the one thing remains constant when looking at historical data, the market always rebounds.  Interest rates are predicted to remain stable in 2020, the economy is booming and with that, the market will continue to improve this year. 
 Beginning in 2015, we began seeing improvement in the Lake Market coinciding with the increase in average lake levels. During that time, our average sales price around the lake increased from $387,500 to $503,681.  The average price per square foot has increased by as much as 20 percent.
This Chart is Waterfront Homes on Less than 5 Acres

Inventories have declined in that time period which have caused prices to increase. 
There are currently only 16 waterfront homes active Lakewide!  
We should see new listings hit this Spring and that number will increase
as we go into the active season.  This is the lowest amount of inventory we have seen in many years. Simple economics tell us that when supply is low and demand is high, prices increase. And demand is at an all time high!
The Absorption Rate, the number of homes flowing through he market in a given price range, are at a record low in the under 500k range indicating it is a Seller's Market.  

What about Lake Lots?
Viewing the Richland Chambers Lake Lot market trends, they are consistent with the Lake home market trends.  There are currently 145 waterfront lots on the market.  There were 350+ waterfront lots for sale in Jan of 2015.  As you can see, we have moved quite a bit of waterfront dirt in the last few years. The average sales price for a waterfront lot in 2015 was $52,587.  In 2019, it was $76,899. The absorption rates are trending lower than in previous years but the inventories are adequate to prevent huge increases in lot values at the present. 
The future of the lake lot market will depend on the influx of new listings and the number of future developments.
Overall, this is great news for our Lake Community.   We are looking forward to an active Lake Market in 2020.
We want to help families make their waterfront dreams a reality as well as transitioning sellers to the next step for them.  Most of our Sellers are folks who have either retired here or had second homes for a Lake escape. The average time at the lake is 10 to 12 years for a family before transitioning away from the lake to get closer to medical or family members. Our goal is to make that transition as easy as possible. 
Give us  a call at (903) 874-0001 if you have questions about the information here or if you are interested in buying or selling at Richland Chambers Lake.  Have a great Spring!!  
See you on the water!

Tuesday, August 28, 2018

Fuel The FireFighters 2018 Update

Here on Richland Chambers when an unfortunate circumstance arises and you have to call 911 the first person to your door will be a Volunteer Fireman.  These volunteers give their time, energy and efforts to providing our community with first responder service.  They often work on shoestring budgets to do the critical work of keeping our community safe.  Proper equipment and training is vital to help them accomplish their mission. 
You Can Help!!

The Donations have been coming in and so far we have over $17,000.00 pledged including cash and silent auction items.

Last year's total was around $24,000, so we still have a way to go.  Our VFD's need your participation, donations and silent auction items to help keep our homes and lives safe in time of need. Together we can beat last year's total!

Help us support our local heroes Saturday September 1st by taking part in the Fuel the Firefighters Poker Run and Silent Auction!
This is the third year we are putting together a Poker Run on Richland Chambers combined with a Silent Auction with all the proceeds going to the Lakeshore Area VFD's.
A $25 donation to the VFD's gets you a Hamburger Lunch, entry into the Silent Auction, a wristband and Live entertainment by The FOG.  All the festivities are going to be at The Harbor Restaurant and Northshore Marina starting at 9am.  The Poker Run starts at The Harbor Restaurant and has 5 stops out on the Lake.  At each stop you will receive a Poker Chip.  When all your chips are collected come back to the Harbor Restaurant and trade them in for cards.  The top 4 winning hands will receive Amazon gift cards of $500, $300, two $100 prizes. 

Ya'll come out for a fun day on the lake, meet your neighbors and support our first responders!
For more information visit:
#richlandchambers #richlandchamberslake #fuelthefirefighters #volunteerfiredepartment #rclake