In down market, second-home properties luring buyers!

By John Handley, Special to the Tribune September 2, 2011

Saugatuck, Mich., has been a magnet for Chicagoans for years because of its beaches, trendy boutiques, art galleries and yacht harbor. (John Handley/ Photo for the Chicago Tribune / September 2, 2011)

Excerpts:

“Is now the time to buy the vacation home of your dreams? That cottage by the lake, in the woods or on a golf course is a lot more affordable than it was five years ago.”

” . . . some baby boomers are renovating their vacation homes for year-round living. “They used to be just summer places.”

“Sales of vacation homes fared better last year than sales of primary residences.”

“Nationally, the median price of vacation homes was $150,000 in 2010, down 11.2 percent from $169,000 in 2009, according to the survey. The main reasons for buying included the desire for a family retreat, the potential for price appreciation and low mortgage rates.”

“The typical buyer of a vacation home in 2010 was 49 years old, had a median household income of $99,500 and purchased a property that was a median distance of 375 miles from his or her primary residence.”

Read the complete article at www.chicagotribune.com.

US Census Reveals Population Trends Affecting Wisconsin Vacation Property Values

Don’t wait for a mass sell-off of Baby Boomers selling their cottages and cabins so they can move to warmer climates. Northern Wisconsin remains as a #1 choice to live for an aging population.

” . . . a small percentage of retirees leave for such places as Florida and Arizona but it’s a misconception most retirees flee due to the weather.”

” . . . that many older people migrating to the state may be retiring to homes or areas they once used for vacations, because northern Wisconsin is typically a vacation area . . .”

Here’s the link to the full article in the Green Bay Press Gazette.

The Federal Government is Cutting Costs by Getting Rid of Buildings We Don’t Need

This property location map visualizes a sampling of over 7,000 of the total 12,000 buildings and structures currently designated as excess, surplus real estate. These properties range from sheds to underutilized office buildings and empty warehouses. Included in the government surplus property sale is real estate in northern Wisconsin, the Upper Peninsula of Michigan and lower Michigan.

The White House

Opening day for Wisconsin fishing is traditionally the first Saturday in May, May 7th during 2011. Hook and line fishing for many species of fish on many Wisconsin waters begins the first Saturday in May. However, to better manage Wisconsin fisheries, season dates are often specific to the species of fish as well as the water body.

Here’s the link to the Wisconsin DNR 2011 Fishing Season Web Pages. Have a fun and safe time on enjoying Wisconsin’s beautiful lakes and rivers.

Sunfish & Fishing Rod on Dock

Inland Property Owners Propose Common Dock to Resolve Lake Access Dispute

View of Lake Charlevoix

Residents of Michigan and Wisconsin need to keep a close eye on how the laws of their state, and the courts that rule on those laws, are changing and affecting their rights to access our lakes.

Here’s the original article: PetoskyNews.Com

“Immortalized by Longfellow, the Midwest’s preferred vacation spot offers unspoiled forests, waterfalls and coastal villages”

Smithsonian.com has discovered the UP.

Upper Peninsuala of Michigan: Cliff jumping into clear blue lake.

Here’s the complete article: Smithsonian Travel UP MI Story

Here is a slideshow of UP MI photos that accompanies the story: Smithsonian Travel UP MI Slideshow

From the National Association of Realtors “Speaking of Real Estate Blog”

Vacation-Home Sales Surprisingly Strong

“In today’s market, you might think the vacation-home market would be really soft. But as it turns out, sales actually grew at a faster rate than those of primary residences between 2008 and 2009 (7.9 percent to 7.1 percent, respectively). That’s according to NAR’s Investment and Vacation Home Buyers Survey, released at the end of April. It shows that the typical vacation-home buyer is making a lifestyle choice, with nine out of 10 saying they intend to use the property for vacations or as a family retreat.”

Posted April 23 by Brian Summerfield, online editor

Here’s the original comment on Realtor Mag at www.realtor.org.

“The strength of second-home sales paints a stark contrast to the overall housing market, which is expected to worsen in 2011.”

“According to the National Association of Realtors, one in 10 real-estate transactions in 2009 was for the purchase of a vacation home.”

From U.S. News on The Wall Street Journal Online, including specific comment on regional Wisconsin vacation home market.  Read full articles here:  WSJ – Market for Vacation Homes Is on the Rise

It wasn’t too long ago that, outside of Door County, northeastern Wisconsin didn’t have any large state parks;  large in the sense of major acreage.  Now Marinette County will be home to another new state park.  First, Marinette County became the land of Governor Thompson State Park along the shores of the Peshtigo River (Reference), and with the addition of The Menominee River State Park and Recreation Area the state of Wisconsin will nearly triple its investment in protected river lands in northeast Wisconsin.

Please see WI DNR News Release for a brief write up.

Menominee River Park Property Map

Northeast Wisconsin’s Menominee River is home to a diverse and robust fishery, including Walleye, Northern Pike and Sturgeon,  but when you’re fishing with Mike Mladenik the big attraction is Smallmouth Bass.  Here’s a recent article from the Milwaukee Journal Sentinel’s Outdoors section on jsonline.com:  Menominee River Smallmouth

Menominee River Fishing