Lake Michigan has several investment opportunities. Large estates can be found as well as charming condominiums and cottages. For the last five years, there has been roughly $377,818,956 in sales recorded with an average sales price of $454,595,788 (condominiums skew this data a bit). 

The leading Tourist Destination in Lake Michigan

Lake Michigan was derived from the word Mishi game which refers to a big lake. The lake is one of the great water bodies in North America. Lake Michigan is the only great lake lying entirely in the United States. It’s believed that the first Europeans to see Lake Michigan were French merchants and explores in the early 1600s. Glacier movements with massive ice sheets eroded the land leading to its creation. The great lake shares its boundaries with four states which are; Indiana, Michigan, Illinois, and Wisconsin. Lake Michigan is classified as the leading tourist destination attracting people from all around the world.

A Travel Guide to Lake Michigan
Samuel de Champlain was a French explorer who…

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Is The Northern Michigan Condominium Lifestyle Right For You?

Condominiums are one of the most misunderstood types of real estate you can buy. They get a lot of hate when compared to apartments and homes for no reason. Many people are unable to tell you the difference between an apartment and what a condo is. Moreover, condos come in multiple forms and can look like a house, apartment, or townhome. The thing that defines a condo is ownership. 

Our team has an entire list of reasons to buy a condo and reasons not to buy a condo. Living in a condo is different than living in a home. There are always a few things to consider when moving to a condo: finances and social life. A home is much more private and often more expensive than a condo. Condos are…

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Bay Harbor: The Community You Dreamed of But Didn’t Think Existed!

Ask historians to describe the state of Michigan’s earliest settlements and you can expect a fanciful look at romantic explorers, Native American encampments and idyllic tales of villages popping up along Lake Michigan. But history didn’t end with the evolution of powerful cities and industries that made the state unique among neighbors: One of the state's most beautiful locations, Bay Harbor, has a unique past.

Once a rough and tumble mining town set up along the lake that also produced some of the Midwest’s constantly-needed cement plants, 1200 acres of pristine land, totaling five miles of Lake Michigan shoreline, were ravaged in the name of progress.

Despite sporadic attempts at…

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There's nothing more dreamy and luxurious than the waterfront lifestyle, and owning your own lake house. Waking up to the sunrise over the water, boat rides with friends on the lake, and cookouts with the family on the shore. This is a lifestyle of luxury and relaxation, as well as socializing and fun.

Whether you are looking for a quiet spot to retire or a vacation home that would be perfect for the kids, Abode Real Estate offers an abundance of lakefront options in beautiful Northern Michigan to suit your needs.

Michigan is home to the largest and some of the most beautiful lakes in North America, and one of the best areas for boating. Northern Michigan attracts avid fishermen and boat enthusiasts from all around the world due to its beautiful…

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Capitalization rate (also known as cap rate) is the rate of return on a commercial real estate investment.

While cap rate does not consider the impact of mortgage financing, a general rule of thumb is whether the cap rate is above or below the interest rate. If the cap rate is greater than the interest rate, you’ll generally come out ahead. If the cap rate is lower than the interest rate, you’ll be relying on appreciation for your return, making it a riskier speculative investment.

How to calculate cap rate

The formula for cap rate is simple: income, fewer expenses, divided by the purchase price.

On a long-term rental, multiply the monthly rental rate by the number of months per year you expect the property to be rented. In areas with…

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We have all been there:  We enjoy a great vacation in a beautiful destination and are smitten by life there. 

We imagine what it might be like if a vacation home was ours and start picking up local real estate brochures and searching online for sale listings.  Pretty soon, conversations with a realtor could be occurring, and you begin you wonder if this dream is realty or pie in the sky.  The idea of owning your own place in a ski town that your family loves just seems like the perfect next step.

Ski vacation homes, like in Boyne Mountain Resort, are no different than the pattern we see with other vacation homes.  They tend to be located in great ski towns that are fun in both summer and winter, have a charm that goes way above and beyond owning…

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What Are Michigan's Most Expensive Lakes?

With more than 11,000 inland lakes and their entire shape defined by the Great Lakes, Michigan is a hot spot for lakefront real estate. A recent report from LakeHomes.com, a multi-state brokerage, and real estate database, offers some insight into where the priciest lakefront real estate is found in Michigan. To compile its quarterly Lake Market Report, LakeHomes.com pulled MLS data to find the average listing price for all for-sale homes in each market on Sept. 1, 2018. The top 10 most expensive lakes for lakefront homes in Michigan are listed below, ordered from the least expensive lake to the most expensive lake at No. 1.

10. Lake Macatawa
Average list price: $1,110,482

This 1,700-acre lake in…

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Lake Charlevoix vacation homeIf you value lifestyle in combination with an appreciation profile, there just might be a place in your portfolio for a Northern Michigan vacation home that makes financial sense. Vacation home prices typically lag major market residential rates by 12-36 months.

But with asking prices for Northern Michigan waterfront and ski-proximate real estate up 10 percent to 20 percent this year (based on 24 months sold price per sq ft averages), discounting has not hit our market.

 While the obligations and negative cash flow aspects of ownership can sometimes be burdensome, the numbers still work as illustrated on our Investment Performance page. Now is the time to explore the pluses and minuses of buying a Northern Michigan vacation home property…

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When you buy a vacation home, you’re making one of the few investments that offer both personal and financial rewards. And you don’t have to be a real estate tycoon to pull it off.

Buy a vacation home to live on your terms

Buying a vacation home allows you to diversify your income, build wealth, plan for retirement, and, of course, take a vacation at no extra cost to you. Some investors weigh one benefit more heavily than the others, but once you’re clear on why you want to buy a vacation home, you can focus your search and match your investment with your priorities.

Diversify your income

When you buy a vacation home and choose to rent it out, it’s possible to create a new, short-term rental revenue stream. This income could supplement…

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Vacation rental homes are spiking in popularity and for good reason. A 2016 HomeAway survey showed that 70% of vacation rental homeowners could pay at least half the mortgage on their vacation home from the rental income it generates. For owners who work with professional property managers, the cash flow benefits may be even greater.

Investing in a vacation home that’s also a vacation rental can create a best-of-both-world scenario: You get to enjoy downtime in one of your favorite locations while getting an income-generating property that helps pay for itself. Full-service vacation rental management companies like Vacasa make life even easier by booking and communicating with guests while also managing the day-to-day responsibilities of the…

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