Waterfront Property Comeback?

Waterfront appears to be rebounding in both numbers sold and sale price, according to statistics from SWMRIC, the local multiple listing service used by Realtors and the general public. From January 1,2009 to June 9,2009 there were 32 waterfront sales with median sale prices of $192,500 and average sale prices of $256,614 versus the same time period in 2010 of 43 waterfront sales with median and average prices of $205,000 and $290,615, respectively. These figures include all waterfront sales in Muskegon and Oceana counties handled by Realtors and do not include any private sales. This is good news for waterfront home owners who are trying to sell and may be an indicator to buyers, that they should not wait much longer to buy. This could also be a signal to investors that waterfront may be a good place to invest during this time of an up and down stock market. Lake Michigan properties as well as inland lakes like White Lake, Muskegon Lake, Stony Lake, Duck Lake and Bear Lake are favorites with waterfront dwellers and seasonal cottage owners. Company web sites such as the one offered by Coldwell Banker Woodland Schmidt make finding the ideal property easy and enjoyable. Many properties have as many as 18 photos to make selection easier. Mortgage interest rates remain at near all time lows also making the time right for ownership.

Roger Simon

Roger Simon

Residential and waterfront specialist,Associate Broker,Appraiser,
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