Let's look at what is happening here. First of all homes are selling, Second most of the sales are under 180,000 which in these price ranges you are looking at local housing supported by local job market. You will find Vacant land here as well. 3rd the average price of the home has come down but not by much! Not like you would expect from all the news! 4th more million dollar + homes have sold than the previous two years! Why is that?
It is something that we have been trying to explain to people that don't live here. This is an area of second homes, resorts, vacation homes with in a National Park Area. This is still a premier destination and a very desirable area. Right now there is an unbelievable amount of property available which has created a wonderful opportunity to own waterfront property! Those that can afford it have seized the opportunity. The selection is the best it's ever been! Supply and Demand has worked in their favor.
Are we affected by all the foreclosures? Yes but not like the rest of the US. Our Average price of a home has come down but not by much. The Further you get away from the water, lakes, and rivers the more affected they are.
Look at the other stats and see what has happened in Acme! By the end of 08 I predict the decline will be over.
Here is just another thought, In regards to waterfront. Sellers will keep their waterfront property rather than give it away. I personally have had clients take their home off the market rather than reduce the price. If your interested the opportunity is there but you will have to pay to get it. I believe the prices right now on waterfront will not be lowered any further than they are right now. The best thing to do is get a buyer representative and get negotiations going. What we lack are buyers that have not been able to sell downstate. We know there is interest here and Sellers are patient.
If your looking for that endless vacation let's get started. Search the entire mls, pick a lake and search that, it all starts here. MLS LISTINGS
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