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.

Seven Lakes North and South 2019-2020 Fee Schedule:

Seven Lakes NC Fees

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.

Seven Lakes NC
There are many insurance agents in the area who can give you a quote for homeowners insurance in case you want to look at the numbers.

Other general information facts about Seven Lakes:

    • 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.

2020 Sales Figures

During the previous calendar year, the real estate market was extremely active. We saw an unprecedented boom starting in May 2020 until the end of the year. 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:


NORTH:

There have been 67 home sales in the past 12 months ending Dec 31,2020. 26 were Waterfront homes.

Low         $80,000
Median   $245,000
High        $566,000

Waterfront: 
Low         $176,000
Median   $307,000
High        $566,000

SOUTH:
There were 32 home sales in the past 12 months ending Dec 31, 2020.

Low         $145,000
Median   $252,000
High        $355,000

WEST:

There have been 107 sales in the past 12 months ending Dec 31, 2020. 20 were Waterfront homes.

Low          $202,000
Median    $335,000
High         $1,187,500

Water Front:
Low          $460,000
Median    $668,000
High         $1,187,500 

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...

01/20/21