Seven Lakes Ownership
OWNERSHIP DOCUMENTS
Seven Lakes is an un-incorporated gated community located in Moore County- which is about 10 miles from the historic Village of Pinehurst- also know as the “Home of American Golf.”
From a tax perspective this means that there are no city taxes, only county taxes. The current county tax rate for Seven Lakes is .467 per $100,000 of assessed value, so someone with a house valued at $100,000 would pay $467 in taxes per year.
There is a Homeowners Association which maintains the entrance gate, the streets, the common areas, controls and enforces the restrictive covenants, and manages all of the amenities. The list of amenities includes seven lakes and their dams, the pool, the horses and stable, the clubhouse, tennis courts and playgrounds. The current annual fee for a home owner is $1,025 for all of these amenities.
There are two gated sections that are governed by the landowners association- The NORTH and the SOUTH. The “North Side” features the seven lakes, the pool and the stables while the “South Side” features 7 Lakes Country Club. Only property owners have access to the lakes, and all boats must have stickers to gain access. The golf course has members, but takes outside play every day of the week. The golf course is a gem and has been a favorite of golfers since it was built in the mid 70′s.
Other general information facts about Seven Lakes:
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- All homes have county water.
- All homes have septic systems.
- There are several provider options for phone, cable and internet.
- All utilities are underground.
- Seven Lakes has Restrictive Covenants that govern the community.
- Seven Lakes has roving security, but there is also a presence of the Moore County Sheriff’s department.
OWNERSHIP COSTS
For comparison purposes, owning a home in Seven Lakes compared to the beach will be significantly less expensive for a variety of reasons. For starters, homeowners insurance rates will be substantially lower due to decreased risks associated with wind and storms. There is no need for wind or flood insurance like is required at the beach. The exterior of your home does not have to battle the salt air, so the upkeep of your home will be much easier and less expensive than a beach house.
2024 Sales Figures
Here is a breakdown of the three neighborhoods that comprise Seven Lakes:
Seven Lakes South, Seven Lakes North, and Seven Lakes West.
Here is the breakdown of each neighborhood. See attached market analysis.
NORTH:
Since January , 2024 there have been 32 closed sales with 8 of these being waterfront.
These 32 homes were an average of 2,000 heated feet with the following figures:
Low: $210,000
Med: $411,678
High: $1,050,000
SOUTH:
Since January 1, 2024 there have been 12 closed sales at an average size of 2,233 heated feet with the following figures:
Low: $367,000
Med: 437,678
High: $545,000
WEST:
Since January 1, 2024 there have been 64 closed sales with 7 of these being waterfront on Lake Auman.
The average size was 2,942 heated feet with the following figures.
Low: $415,000
Med: 688,493
High: $2,100,000
Waterfront properties continue to be a hot commodity in Seven Lakes with a very limited supply and tremendous demand. Buyers wanting to purchase anything on the water must act quickly and be ready to make an aggressive offer. We entered into a "Sellers Market" midway through 2020 and everything in Seven Lakes is in high demand. Please contact me for up-to-date market analysis.
Please call or email with any questions or more data about any of these neighborhoods...
11/14/24