Real Estate Investing

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Found 49 blog entries about Real Estate Investing.

Walloon Lake is located within the Little Traverse Bay Watershed and empties into Lake Michigan via the Bear River. Walloon Lake is considered an outstanding ecological, aesthetic, and recreational resource. Rolling glacial terrain surrounds its deep waters, including its five distinct depressions or basins:

  • Foot – 94 ft.
  • Mud Lake – 14 ft.
  • West Arm – 100 ft.
  • North Arm – 52 ft.
  • Wildwood – 80 ft.

The lake and its watershed are located in Bay, Evangeline, and Melrose townships of Charlevoix County; and Bear Creek and Resort Townships of Emmet County. The lake has a relatively small watershed (22,650 acres) compared to its lake surface area (4,270 acres). Five percent of the Walloon Lake Watershed is classified as

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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 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 just a normal rental

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The Shores on Walloon Lake is a collection of only six spacious custom cottages in Walloon Lake Village. Each has a westward panorama and is but a few steps from the water and your dock. The design and workmanship of each are beyond all requirements and most expectations. The plan is based on great respect for the past and appreciation of the natural grandeur of our Walloon. Through uncomplicated and maintenance-free living, The Shores allow you to reside in harmony with the village and the lake. Every outside maintenance task—including your dock—is taken care of. Never rake, shovel, sweep, cut, plant, prune, clean or wash!

About Walloon Lake

For over 120 years, Walloon has been a place where many of the icons of

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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 as it fits

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Home to an artsy, outdoorsy community, East Jordan is perhaps best known as the gateway to one of Northern Michigan's coolest wild places: the Jordan River Valley, an 18,000-acre paradise loaded with old-growth forest and the pristine Jordan River.  Because of the area's rich history, the homes for sale in the East Jordan real estate market are typically charming cottages and mature single-family homes, each with their unique perks and varying property sizes.  If you're looking for a home with a little more privacy, it doesn't get much better than right here. Properties here, especially those on large parcels, are hugged by lush patches of woodlands and greenery, which further enhances that feeling of exclusivity and seclusion. 

Harborage

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Nestled in the space between Lake Charlevoix and Lake Michigan, the city of Charlevoix is home to nearly 2,500 residents. As such, this quiet community enjoys great access to recreation along the lakes and conveniences at the heart of the big city. When it comes to the Charlevoix, MI real estate market, buyers will find that there is a nice selection of single-family homes and condominiums available. Note: We are including five condominium communities in this list that are actually on Round Lake, technically not Lake Charlevoix, but they are connected so it made sense to do so to us.  Charlevoix condominiums for sale are some of the most sought after real estate options in Northern Michigan.  

Edgewater Inn Condominiums in downtown

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Boyne City is the epitome of a charming Northern Michigan town; where familiarity runs deep and waves exchanged by those passing by.  With roots that date back as far as 1856, Boyne City has always been cherished for its small-town allure and relaxed way of life.  Surrounded by the peace and tranquility of nature, friendly locals, waterfront wonders, and endless nature trails to explore, Boyne City might be just the rural paradise you're looking for.  Traditional communities, all built within the last several decades, woven together with a lovely little downtown area that residents adore.  For these reasons, it's no surprise that Boyne City real estate attracts all types of buyers, from young professionals to families to retirees.  It's easy to

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There's a reason this beautiful Northern Michigan lake placed second only to Lake Tahoe in USA Today's readers poll of America's best lakes.  A boat tour of Lake Charlevoix will not only give you a beautiful day on the water but access to three of the Northern Michigans best small towns;

  • Boyne City, at the eastern edge of the North arm, has seven condominium complexes located directly on Lake Charlevoix.

  • Charlevoix, on the lakes western edge, has two condominium complexes located directly on Lake Charlevoix.

  • East Jordan, at the end of the lake south arm, has four condominium complexes located directly on Lake Charlevoix. 

A shallow ledge, which outlines the entire lake, makes it ideal for anchoring and relaxing the day away.

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There are lots to consider when buying a vacation home. Check out our three keys to help you in your search. Our team is ready to answer your questions. Give us a call at (231) 459-3179 or email Brook, brook@nmescapes.com.

 

1. Consider the cost—and whether you can afford it
Unless you purchase your vacation property with cash, you'll need to apply for a mortgage—typically, a downpayment of 10-20% is required. You’ll also need to meet minimum credit and debt-to-income standards, and provide documents for asset and income verification. 

2. Think: location, location, location
Lakefront cottage? Beachside condo? Cabin in the woods? Know what you’re looking for, then get to know the area.

Bonus tip:

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The tax filing deadline is quickly approaching. If you own a home, here are some important residential tax-saving incentives you should not miss:

Residential Energy Tax Credits

  • Residential Energy Efficient Property Credit - Taxpayers may take a credit up to 30% of qualified solar, wind, geothermal and fuel cell property improvements. This includes labor costs to assemble, build, and connect the equipment. The credit is capped at $500 per one-half kilowatt of capacity purchased.
     
  • Non-Business Energy Property Credit - Taxpayers may take credit for 10% of the qualifying costs to improve energy-efficiency for the non-business property. Qualified improvements include adding insulation, energy-efficient windows/doors, or energy-efficient
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