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.
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