Grand Rapids Housing Market For Recreational Homes Sees A Surplus
Grand Rapids is the place to be for families with young children and retirees because of a housing surplus, according to a recent survey of RE/MAM brokers and agents in Minnesota.
“Housing surplus really relates to the fact that there are more homes for sale than we’ll sell in a given season,” said RE/MAX Thousand Lakes Broker/Owner Wendy Uzelac.
With a housing surplus, the buyer has more options when choosing a property with a better price point. Sellers are affected by having to be careful with the price tag they place on a home.
“They’re some really great properties out there, just a variety of places,” said Uzelac. “We have over 1,000 lakes in our county alone and that really affords the buyer a lot of choices.”
There are several reasons why Grand Rapids is considered a popular destination for a vacation home.
“There’s everything from things on acreage, nice clear lakes, deep lakes, sand beach that doesn’t have a lot of elevation and it’s still what would be considered an affordable second home or lake home,” said Uzelac.
The lake season is during March through November and is weather dependent. A quick search in the Itasca County Board of Realtors multiple listings service database shows hundreds of residential properties on the market and the current deals.
“We have properties for sale anywhere from the hundred thousand dollar price point and a little bit below that all the way up to upper bracket luxury homes, which for are area would be approaching $1 million.”
When you are ready to purchase your vacation home, here are a few tips.
“They can really benefit from the market knowledge of a local agent and that will really help them focus in on the right properties that meet their needs, wants and desires and be able to purchase them at an affordable price for them,” said Uzelac.
In comparison, the average price of a recreational property in the Brainerd Lakes area ranges from $350,000 to $500,000.