Market FAQ
PK Lake FAQ
For centuries the raging Brazos River has cut its way through the Palo Pinto Mountains. In the 1940’s the river was dammed up to form a huge lake nestled within the dramatic North Texas hill country named Possum Kingdom Lake, often referred to also as PK Lake. Our community is very family oriented. Possum Kingdom Lake is famous for family reunions and the numerous Boy Scout and YMCA camps. The natural views are spectacular! Our lake is one of the clearest lakes in all of Texas. As a result, we are a favorite spot for inland scuba diving and boating. Year-round activities include fishing, camping, hiking, golf, mountain bikes and horseback riding. Our lake is only a short drive from Dallas, Ft. Worth, Wichita Falls and Abilene, Texas. Because our lake is mature, the shoreline available for development has already been mostly developed, so what you’ll see is what you’ll get – lots of pristine natural views! READ MORE FAQ >
Most of our real estate transactions are “pre-loved cabins or lake homes” sold from one family to another. The lakefront lots at PK Lake are larger, i.e., minimum of 100 feet of waterfront in most areas. What is available today are lake front lots, cabins or estates owned by individual Sellers and marketed through Possum Kingdom Real Estate®. Demand for lake front properties at Possum Kingdom Lake has become greater than the supply. Little fishing cabins are being replaced with nice lake homes and beautiful communities have been developed in recent years such as Cliffs Resort Possum Kingdom, The Harbor at Possum Kingdom Lake, the Ranch on Possum Kingdom Lake and the Hills Above Possum Kingdom Lake. At our lake, your lake home won’t be competing with new construction because we see only a handful of “speculation homes” built per year. There is a wide demand for properties of all values at Possum Kingdom Lake. This is a wonderful financial position for your real estate assets. The outlook for increased demand is so obvious.
There has been a bad rumor that you can only rent property at Possum Kingdom Lake. This is far from the truth. We have several forms of ownership including fee simple deeded lakefront property. The vast majority of our lake communities now offer deeded lakefront. The Brazos River Authority sold their lakefront in 2010 which was being used by individuals. These former BRA lakefronts are now deeded. What you hear about “renting” lakefront property is a misunderstood version of ownership called “Leasehold Estate” found only occasionally on the north end of our lake. Yes, they used the dirty “L” word but without going into a long explanation, big financial institutions have financed purchases of these Leasehold Estates. Prominent Texans and their successors have owned these Leasehold Estates for as many as fifty years or more and with much success and great enjoyment.
Financing lake property may be somewhat different from residential loans in the city. Much of the financing out here at Possum Kingdom Lake has been through local savings and loans because their programs are often more attractive with lower closing costs compared with larger financial institutions who are less familiar with this area. Understand these issues before you concentrate on finding your lake retreat in a specific area. Take advantage of local real estate expertise with a Possum Kingdom Real Estate® agent. There’s Something for Everyone! We encourage you to learn about the different personalities of Possum Kingdom Lake neighborhoods.
You can have a place on the lakefront from $500,000 up to million dollars or more… cabins, condos and homes just a short walk to the lake cost even less. There are both secluded spots off the beaten path and popular areas with entertainment and restaurants. We have found that well-informed prospective buyers make the happiest homeowners. A word of caution – don’t be overwhelmed by the size of our lake. Possum Kingdom Lake is huge…65 miles long, 310 miles of shoreline, 17,000 acres in area and holds 750,000 acre-feet of water. Possum Kingdom Real Estate® has offices on all sides of the lake and only full time Realtors who specialize in the different areas. Enjoy our informative land or lake tours and discover our lake paradise.