Lakefront Real Estate Listings
Higgins Lake, Houghton Lake or Any Other Waterfront Buyer needs to consider getting into the market sooner rather than later! From my point of view the interest rates are at the best offerings that we have seen in decades.
If there is magic in the world, it’s found on waterfront property!
Today the national average rate for a 30 year was 4.79% for qualified borrowers. Here is a real life example: You find that lakefront dream home offered at $500,000. It will be your second home to vacation at and retire at. The bank will ask for a premium because this is a second home, so now your rate in this illustration will be 5.29%. You will be borrowing $400,000 with a 20% down mortgage. This will make your monthly principal and interest payment $2219.
Now is the time to buy real estate. The GOLD buying ads on the TV are taking a lot of time to convince you that gold is the cure all for your money for investment. The best time to buy any investment is when the price is low, that IS NOT the case with gold as gold is at all time highs right now. However, Real Estate is at all time lows with interest rates low also. The best investment of all time has been and will be real estate.
Now if you have CASH you are even in the best position to buy. When offers are made offering the seller a faster closing date because you won’t be adding additional time to obtain a mortgage.
I have been very busy this winter showing lakefront homes. The people that are looking recognize that the inventory is depressing prices and it is a great time to shop.
I you need additional lakefront info look at the LINKS section of my web site and if you don’t find what you are looking for contact me, I specialize in waterfront issues and consulting.
Do you need SOLD information on Higgins or Houghton Lake? Just go to my home page and look for the FREE DOWNLOAD arrow for 2009 data.
Property taxes are a cost that will need to be reviewed before you make your final decision to buy that dream home. In Roscommon County we are seeing downward trends in the SEVs. The SEV is the value that you as a buyer will use as your taxable value for calculating your taxes according to state law. This is very good news. Some lakefront owners around Roscommon Counties lakes are seeing 10% and more reductions in their SEVs since assessment notices started arriving last week in mail boxes.
Disclaimer: Information contained herein is not guaranteed and is subject to change without notice.
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