Lake Vermilion Real Estate

As I’ve noted in previous posts… this market has not produced a large number of bank-owned lakeshore property buying opportunities.  The “Must Sell Now” link on the right side bar will reveal a relatively small group of 15 bank-owned lake frontage listings.

That’s not the case with non-lakeshore listings.  The current list of lender-owned non-lakeshore real estate offerings contains 52 total properties all within the greater Northeastern Minnesota region.  Here are a few within the group that caught my eye:  1) attractive 3 BR home on 5+ acres in the Makinen area offered at $194,900 2) decent looking 2 BR home in the City of Ely priced at $85,000 3) interesting 4 BR country home on 20+ acres with views overlooking Lake Vermilion at $249,900 4) rare and  nearly new log-sided cabin on 40 acres in the Superior National Forest priced at $99,000.

The total group is priced from $19,900 to $249,900 and you can view it  here.

When your idea well temporarily runs dry and you are pressed to write something it’s nice to know our world provides critters that can fill the void because no one on the planet can resist their appeal.

Enter the puppy.

Our family, as with many I’m sure, has had it’s share of family companions. Let’s see… there was Tawny, Zoomer, Tippy, Wiener, Howie, and Molly, a rabbit, a hamster, some fish, and a family of ducks to name a few. As family members age and move on to independent living the tradition of family pets becomes second nature.

Enter the puppy.

There’s a nice sort of comforting message that comes with the addition of a pet.  Especially when it’s a first time experience for a younger family member.  It signals the acceptance of responsibility in exchange for a shared existence.  It also qualifies as one of those lifetime milestone events.

Of course… the puppy is the perfect critter to fill this role.  Other creatures can stand in for the puppy.  Some, however, may not assume the partnership with the dedication seen in the puppy.

Enter the cat.

The last few days have not allowed much time to organize ideas into words so here’s a quick commentary on the most recent notes.

The weather has been very abnormal.  Not just a couple of degrees out of whack but 10-20 degrees to the warm side.  That’s a nice albeit weird change from a typical early April that, as with many niceties, it comes with baggage.  Such as…

It’s been very dry.  It’s been very windy.  That raises the concerns for wildfires.

And it lowers the lake water level which is now at near mid-summer height.  The woods is just starting to show signs of green up.  There have been a few bugs in the air.

The local wolf pack had an afternoon snack about 100 yards from my house (see photo).

The real estate activity continues to improve.  The available local inventory is increasing despite a growing number of sales.  Many sellers remain motivated.  Despite news reports of increased bank-owned properties the Lake Vermilion area market has seen a minimal number of foreclosures.  For buyers the message bears repeating because the combination of higher inventory and seller motivation is the perfect (and rarely seen) storm in a lakeshore real estate market.  If you consider yourself a potential buyer click here for the not-so-subtle message.

Anyone looking for a good used and very large satellite dish? Free.

As always, thanks for visiting!

Here are a few observations on the 2010 Lake Vermilion area real estate market for the first 3 months of 2010.

First of all, activity is way up over the same period in 2009.  Inquiries and property tours started early in the calendar year and are ongoing.

Also, the number of completed and pending sales (Lake Vermilion only) is markedly higher so far this year.  In fact there have been 11 to 13 (dependent upon where you look) completed or pending sales!  That may not seem significant but it represents about 10% of the current available Lake Vermilion inventory.

Those are sales that would not normally be expected during the months of January, February, and March.

Successful Buyers have had the opportunity to view numerous listings and select the most attractive of the group.

I would have the opinion that this heightened Buyer interest will continue into the prime selling season of April through September.

Only time will tell.

According to the Lutherans… the ice is out on Lake Vermilion! Coffee and bars for all!

Update! According to LakeVermilion.com’s Ice-Out Contest the confirmed ice out date is Tuesday, April 6th.  That beats the previous best set in 1945 by 4 days.

Here’s a good reason to buy Lake Vermilion real estate.

Lake Vermilion does not have two and a half foot aquatic cockroaches.

The battle lines have been drawn.

The fight between water and ice is underway.

The 2010 version of Lake Vermilion ice-out is off to a very fast start.  So fast in fact we may be headed for a date that will beat all previously recorded ice-out dates.

At this writing many of the smaller bays are already ice free.  Jammer Lake (a small lake located south of Lake Vermilion) is open and ice free.  That’s a prerequisite event for Lake Vermilion.

Will the above average March temperatures and lack of snow fall provide fodder for climate change commentary?

A few weeks ago a report that noted 48 of the 50 US states had some degree of snow cover caught the attention of a few climate change skeptics.  At the other end of the issue is this trend, provided by UCAR, that may reinforce the evidence that our planet is getting warmer.

At Lake Vermilion, on this date, it’s a fact that our 2010 winter weather season has been cut short… very short.

The ice out record set on April 10, 1945 is going to fall.