A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

July 27, 2006

The Market.

If you are currently an active Buyer or Seller it is not news to you that the mid-summer 2006 real estate market is, in a word, soft.

The recreational/lake property market is usually not as susceptible to broad-based real estate market fluctuations. But, at this time, there are a number of issues affecting the Lake Vermilion area marketplace. We could probably include influences such as interest rates, fuel prices, inflation concerns, as well as the fact we have had a very good market for a very long time. If you are currently a Buyer you might consider some of the opportunities of this temporary market. Review some of these properties taken from our existing inventory:

A 3 bedroom, 4 bath year round Lake Vermilion home reduced from $825,000 to $750,000. A 2 bedroom Lake Vermilion vacation home reduced from $625,000 to $599,000. A 4 bedroom Lake Vermilion wilderness home reduced from $559,000 to $499,000. A large Lake Vermilion water access parcel with cabin reduced from $750,000 to $695,000. An entry level Lake Vermilion road access building lot reduced from $215,000 to $195,000. A Lake Vermilion island cabin that now includes a $10,000 allowance for a septic system. A Lake Vermilion road access cabin with a new $20,000 allowance for a septic system. A Pelican Lake road access lot now offered at $205,000, reduced from $239,000. This Lake Vermilion area 3 bedroom rural home has a motivated seller. The owner of this entry level one bedroom home (located just 2 miles from Lake Vermilion) would like to sell as soon as possible.

There are others. It could be a good time to make an offer!

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