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Mon July 7, 2014
"Up North" Cottage prices are at an all time low
If you are looking to buy a cottage up north, now is the time to buy. With the recession, the burst of the housing bubble, and the loss of pension plans and other savings, there are a lot of cottages on the market today and they are more affordable than ever.
John Carr is the associate broker with Coldwell Banker in Harbor Springs. Carr said buyers will never see prices this low. Houses on Lake Michigan are as low as $179,000 and condos next to ski resorts are going for under $100,000.
“You are never going to see prices this low,” Carr said.
Car said after 2008, prices dropped 30-40%. Inventory grew to 47 homes in between Harbor Springs and Cross Village, from 20 homes on the market.
*Listen to the interview on Stateside at 3:00 pm. Audio for this story will be posted on Michigan Radio by 4:30 pm.