Thread: Lake front property - Is now the time to buy?

So im thinking of investing in lake front property. I plan on buying and keeping for a very long time.

Is now the time to buy?
Are properties on a lake on which can no longer be built on worth more?

One place i looked at has been for sale for about a year, then i heard that they are actually selling it for what they paid for it about 4 years back.

thanks,

Alex...

Where do you live?

I'm curious as well... Although the situation may be slightly different in Canada

Illinois, but was looking in wisconsin and upper michigan


Alex...

Couldnt be better time then now!

great bday present

I've been seeing the real estate market pick up recently. No much but compared to nothing, it's a definite improvement. That being said every local market is different. The fact that the price reverted to where it was 4 years ago doesn't mean it's a good deal. Remember the prices of four years ago were often inflated with speculation and/or belief that prices would always keep going up. Also, lake/vacation home prices might remain depressed for longer as people cut unnecessary expenses and find other products to invest their money other than real estate.

I'm not sure what you are asking when you say that the property can no longer be built on. If this is a City zoning code issue I can give you some insight into that as well. Call me or pm anytime bro.

However, since you are looking really long term I don't think you'll be hurt with buying now...just be sure to let me borrow the keys once in a while

Originally Posted by tecthis

Illinois, but was looking in wisconsin and upper michigan


Alex...

If you want a nice piece of land on a lake in Wiscosin, now is a great time to buy. The prices have dropped 20-30 percent on alot of lake front properties in the north woods.