 Real estate is generally broken up via quadrant, and realtors will use the terms "South-East", "South-West", "North-East", and "North-West" when discussing general location of a property on the lake.Generally speaking, no individual owns waterfront property on Lake Gaston because Dominion Power owns the lake and the land up to the "High Water Mark".Real estate is listed with an indicator which tells the buyer how many linear feet of property they would own which abuts to the High Water Mark.