In our vacation and resort home market of Southwest Michigan, inventory of lakefront and beach access homes remains at historic lows while demand continues to climb. This has been very good news for sellers. But it's not too late for buyers. Although prices have increased substantially compared to 2011 and 2012, currently they remain somewhat over corrected.
Generally, the best values today are vacant lots. Most buyers in this market (vacation homes) tend to pay a premium for a turn key home, and they shy away from building a long distance from their primary residence. Additionally, many local builders have not been able to obtain financing since the market crash and many others simply didn't survive. Therefore, not enough new construction is being built on spec. This has caused the demand for undeveloped land to remain very soft.
Buyers who are willing to go through the process of building a home will have no problem getting a great deal on a vacant lot near the beach, or even a large parcel of acreage just a few miles outside of the city limits.
Lake Michigan lakefront lots are a different story. Very few lakefront lots are on the market in Harbor Country, where the demand is highest. North of Harbor Country the demand drops significantly and several lots are listed for sale in Stevensville, Saint Joseph, and Coloma. Even more lakefront properties, vacant and developed, are available in and near South Haven, where prices are significantly lower due to the location being much further from Chicago where the bulk of the buyers reside.
If you are frustrated by the current selection of homes for sale in Southwest Michigan but you want to take advantage of the current prices, let's setup a time to talk about other options including building on vacant land. I have the experience and local resources to make the process trouble free. The extra time and effort often results in more home in a better location than would have otherwise been possible.
Author:Paul Zubrys Phone: 269-783-5253 Dated: January 7th 2014 Views: 6,615 About Paul: I began my real estate career in 1987. Harbor Country Real Estate, Lake Michigan Lakefront Property,...
Do you know where the best beaches are located, and why? Don't worry, we do. Do you know which neighborhoods have deeded private beach rights? Which beaches have the lowest bluffs and easy beach access? Which lakefront homes are located within areas designated as High Risk Erosion? We know, because 255, 255); background-color: rgb(165, 165, 165);">Lake Michigan Lakefront Property and beach access real estate in Southwest Michigan is all we do.
Let's talk before you move forward with your next real estate transaction. You will be glad you did.
Paul Zubrys, Principal Broker / REALTOR
Southwest Michigan & Northwest Indiana Real Estate since 1987.
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