Lakeshore buyers seize their chance

  • Article by: JIM BUCHTA , Star Tribune
  • Updated: September 1, 2012 - 9:29 PM

Low lakeshore prices are enabling those once priced out of the market to get a crack at a slice of shoreline.

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bgronniSep. 1, 12 9:47 PM

Oh yea, $440,000. what a bargain. a bargain would be back to 70's prices when a house cost 60K and a cabin 25K.

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mockingyouSep. 2, 12 8:15 AM

i think this quote addresses that: "In 2006 there 21 [lakefront] sales priced below $100,000; this year there were 58. In, 2006 there were 115 sales from $300,000 to $400,000, but only 53 this year."

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truthtopowerSep. 2, 1210:40 AM

Sorry, still way too much debt for an average middle class family to take on, especially in this treacherous job market where jobs are "here today, gone tomorrow." Thanks, Strib, for publishing the real estate industry's propaganda, though. Hope is a four letter word. Houses are selling around here, but we're bouncing along a local bottom in price and when Boomers finally start to go into retirement homes in large numbers, we'll see another precipitous drop in home values--That is, unless you think all the recent immigrants that are coming to MN are going to be buying up all the houses. Imagine negative growth and plan according to that.

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wingknutSep. 2, 1212:37 PM

We would love a lake cabin, but we decided it would be too much work to keep up 2 properties, with full time jobs and a family. Maybe it's a good time to invest for those who can afford it.

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railroadSep. 2, 12 3:24 PM

These deals are only for the rich people.. the average family has to worry about a job and college and family expenses... and who wants 2 houses to take care of anyway

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cadguymarkSep. 2, 12 3:34 PM

low interest rates are certainly driving the sales, but it isn't low loan rates, it is low savings & bond rates, people are buying because it is a good investment compared to getting 0% bond and savings rate. But a bargain? No, the run up in prices earlier were out of line, prices are somewhat back to reality. for a retirement home it make sense, Enjoy spending your weekends working at, driving to and from (at near 4 bucks a gallon)your lake home.

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jd55604Sep. 3, 12 1:12 PM

Wow!! what a revelation. Wealthy people are able to pay cash for swanky lakeshore property. Next thing you know the Strib will be telling us that these same people are buying german luxury cars.

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