We have studied the sales on Lake Michigan so far this year and the indication is that prices are holding well.
Some sales have been made under pressure, it is true but generally sales prices are in line with the past 2 or 3 years.
Second homes are not selling well although people still have money - they are nervous about making a committment. Buyers and sellers are coming closer together in their understanding of values which is good.
There are wonderful opportunities out there right now; great selection and choice of location. in the 15 years I have been selling in the Pentwater area I have never seen so much choice and value for money.
So - if you are in the market for a second vacation home now is the time to start seriously looking.
We are still seeing the occassional foreclosure but these tend to be in the rural areas where the homes are residential rather than vacation homes.
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