Paul Zubrys, Broker

How can you locate a great deal on a lakefront property owned by a distressed seller? 

Read this article and I will send you a current list of distressed lakefront property for sale.

I've been in the Michigan real estate market for more than 20 years now.  I'm a bit young to remeber the high interest rates of the 1970s, however, I did endure the real estate recession of the early 90's.  Back then, around 1989, the average price for a Lake Michigan lakefront lot was about $1000 per foot of lake frontage.  Some of the more desirable lots in New Buffal, MI or in Union Pier, MI the better 100' wide lots with private beach rights, such as those in Gowdy Shores, Gordon Beach, or Riviera Beach, sold for as much as $150,000.  During the recession, prices didn't really drop as much as the denand stopped growing and the overall market hit a plateau.  A couple years later, prices began to sharply climb and did not stop until our current recession began in late 2007.

This time around, prices have certainly dropped significantly.  It is now possible to purchase a 100' lakefront property in New Buffalo Michigan's Riveria Beach community for less than $2M, with a 4 bedroom house in decent condition, with a great beach and fantastic views over Lake Michigan.  Now keep in mind, that only 2 years ago,similiar lots in the same neighborhood were selling for as much as $3M - and that is a vacant lot!

Here is the bottom line.  Most owners of property of this caliber are not pressured to sell in a bad market.  However, deals can be located.  How do you locate a bank owned lakefront property or a lakefront home owned by a distressed seller?  Find a REALTOR in the market you want to acquire the property and guarantee your loyalty to him or her.  Sign an Exclusive Buyer Agency Agreement.  This will not cost you anything.  But, it assures the REALTOR that you will be doing business with him.  Why is this important?  Think about it.  Put yourself in the REALTOR's shoes.

For example, if I learn about a seller who is willing to part with a very desirable property at a very reduced price, do you think I will openly put the information on my website, in my newsletter or blast out emails to everybody on my list without any guarantee of getting the business?  Of course not!  I will immediately call those clients who are under contract or those I know are loyal to me because of an existing relationship.

I can guarantee you that almost all of the best deals get done this way.

What REALTOR should you use?  Of course, I would probably like to have your business.  I definetly would at least like to speak with you to see if I can met your expectations.  Otherwise, please do not pick somebody out of the blue, the phone book, or off of some pretty ad in a magazine.  Get referrals if possible.  Ask to see their production numbers.  When I am looking for real estate outside of my market, I always try to locate the REALTOR in that area with is writing the most deals,  Not the guy with all the listings, but the guy who has successfully brokered the most transactions for Buyers.

A Buyer's Broker typically sees more of the available properties because he is out showing property, not servicing sellers.  The Buyer's Broker is always out there trying to locate property that meets the needs of his clients, regardless of the property is in the MLS or not.

I personally do not think its possible to be an expert at serving both Buyers and Sellers.  In fact, some states have outlawed the practice, and for good reason.  The Buyer Broker is simply a different animal than the Listing Broker.

Ok, now here is the payoff for enduring my rant.  Check out this post at TheDailyListings to receive an immediate email reply with the latest list of bank owned property, short sales, REO, and other distressed sales in Southwest Michigan.

• 2,134 sq. ft., 3 bath, 4 bdrm other - MLS® $720,000

Berrien Springs, Berrien County  -  SOUTHWEST MICHIGAN'S NEWEST AND FINEST homes. **LAKE CHAPIN SHORES** This home, Eagle's Nest is one of 21 beautiful homes amid 28 acres of wooded, hills & protected conservation lands, all set on spectacular Lake Chapin, the largest all-sports lake in the chic & charming Wine Country of SW Michigan. You can fish, canoe, sail, jet-ski, water-ski, kayak, or just dangle your feet off the dock. Ten lakefront sites, all homes have lake acess,an association beach, pool, pool house & pier. Boat slips also available for a very reasonable fee. Pheasant Ridge is a 2 bedroom 2 bath home. Nice open floorplan with island kitchen and great room. 790 square feet of decking, screened in porch and front porch greatly expands the living and entertainment space. With decks and porches, this home boasts a total of 3871 sq ft ! Buy now and choose your finishes. Call to request a brochure.

Property information

• 2,196 sq. ft., 3 bath, 5 bdrm single story "Contemporary" - MLS® $675,000

Three Rivers, St. Joseph County  -  Elegant Country Estate with 5/6 Bedrooms, 3.5 Baths, 3 Fireplaces, New Columbian Hickory Hardwood Floors, Appliances, Bathroom Fixtures, In-Ground Pool, Tennis Court, nestled along the picturesque Portage River. Over 5 acres of privacy with a nature preserve adjoining property to north. Home has been totally redone to accomodate the most discriminating buyer. This home has breathtaking views from all rooms, decks for entertaining including a firepit off the family room deck area. Has seperate boathouse that could be used as an office or studio. New roof in 2007, appliances come with manuafactuers warranty. Seller is offering 12-month home warranty. Gunite In-Ground pool comes with cover and pool equipment. Lush gardens, lawn and ground cover. Ready to move in and enjoy!

Property information

• 3,050 sq. ft., 4 bath, 3 bdrm other - MLS® $635,000

New Buffalo, Berrien County  -  Newer Contemporary Cottage sits on a wooded acre overlooking Turtle Creek. This home is fully complimented featuring: open main level with 2 story great room, floor to ceiling fieldstone fireplace, kitchen with cherry stained maple beadboard cabinets, high end appliances and granite counters, whole house (interior & exterior) sound system with intercom, oak hardwood flooring, 3 Bedrooms Suites, 2 basement bedrooms with full bath, lower level rec room with gas burning fireplace, 2 furnaces for 2 heating and cooling zones, security system, expansive rear decking with fieldstone fireplace, screened in gazebo, 2 ponds, flower garden and so much more. Also available is a 6 person hottub and underground, electronic dog fencing divided into 2 zones. Ask for pricing. Exclusions: doghouse behind garage, fish in ponds, contorted filbert tree by front door, metal storage racks in garage, 2 freezers in garage. Hot water heater is rented from AEP and is $17/month. Owner is licensed Realtor.

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Views, Views, Views

• 2,246 sq. ft., 2 bath, 3 bdrm 3 story "Cape Cod" - MLS® $2,475,000

St. Joseph, Berrien County  -  VIEWS VIEWS VIEWS!! This recently completed home has more amenities than one could imagine. Designed by architect Chris Brooks, gorgeous cherry wood floors will lead your way around this 3 story home while admiring the beautiful granite counter tops, high end appliances, custom built entertainment center, theater room drop down movie screen, and italian tile. If you feel like taking a short cut, take the 4 stop elevator to any floor you choose. Massive wrap around decks, an indoor/outdoor speaker system, and ofcourse beach rights to Lake Michigan allow this home to be the perfect place for entertaining and relaxing. As they say location is everything and this home has the most convenient location to many great local botiques, restaurants, the St Joseph Marina, and Yacht Club.

Property information

• 4,350 sq. ft., 2 bath, 5 bdrm other "Cape Cod" - MLS® $1,350,000

New Buffalo, Berrien County  -  Here it is - The Best of All Worlds!! From the moment you draw near, this propety embraces you and draws you in. 1 Block to Sturgeon Beach Association Access for all of the water lovers, AND the serenity and unobstructed views of a protected Nature Preserve from the entire rear of the home. Shed your worries at the door! Whether you choose to fill the home with friends and family, or just cozy up to the intimate fireplace, this home is a rare find. Completely rehabbed in 2000, featuring top of the line appliances which compliment the Chef's kitchen, ample windows and glass doors invite the outdoors in and provide for the most delightful mid-summer breezes. Construction has begun on a main level Master Suite and Master Bath. Plans available to view. Completion includes a guest bath as well. The home is situated perfectly on the oversized lot and the unattached garage offers the potential for additional guest quarters or studio. Don't wait to make this your dream come true!

Property information

• 3,375 sq. ft., 2 bath, 3 bdrm other - MLS® $1,295,000

Berrien County, Michigan  -  A very special house in a very special place. The home was designed by Architect Larry Booth. The home sits on 7.68 acres, with an additional 44.42 acres of a nature conservancy as your backyard. The main house has over 2000 sq. ft of living space, radiant heat, steam shower, japanese sunken tub, stainless appliances, Sub Zero refrigerator, 6 burner Thermador stove, double Thermador oven, Bosch diswasher, stainless countertops, exposed natural post and beam structure and built in bookcases. The 2 story guest house is 1400 sq. ft, with 2 br, 1 1.5 ba, and a fireplace. This is an unbelievable property!

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