Tag: Lake Michigan real estate

Great for All Seasons: A Highlight of Traverse City, MI

Posted on Mary Walters

It can be difficult to find a lake area that’s pleasant throughout all seasons. Summer heat can keep you close to the air conditioner, afraid to go outdoors and face the humidity. On the other hand, the winter blues can make you feel lonely as everything closes shop, and you have no choice but to bundle up inside the house. One location that’s close to perfect, regardless of the weather, is Traverse City, Michigan. Every season provides plenty of opportunities for the whole family to get outside and enjoy the pleasant lake atmosphere. Take a look below to see what’s available in Traverse City– winter, spring, summer, or fall!

Winter

Photo courtesy of Traverse City Tourism.

In some vacation spots, winter shuts down all the activities, everyone goes home, and everything goes quiet. In Traverse City, winter is one of the more exciting seasons. A major attraction is the ski lodges that surround the area. At night, they even offer cross country skiing. Further, one of the best winter attractions specific to Traverse City is snowshoeing across the sand dunes. This activity allows you to see the beauty of the lakeshore in the quiet winter snow.

Spring

cherry blossoms
Photo courtesy of Traverse City Tourism.

With the flowers in bloom, spring is an excellent time to enjoy the beautiful, quaint life of Traverse City. You can go on a tour of the cherry orchards that peak around mid-May. It’s a full excursion of beautiful cherry blossoms and flowers around the area. Another great idea for spring is a wine tour to explore various vineyards throughout the region. May is Michigan Wine Month, which Traverse City celebrates through specialized wine tours. Many visitors make the trip to Traverse City to enjoy a fun weekend discovering the vineyards in northwest Michigan.

Summer

traverse city lake beachy shoreline

Of course, you cannot beat the weather and lake life in Traverse City during the summer. Because the city sits right on the lake, there are countless opportunities to enjoy a sun-kissed day full of swimming and outdoor activities. If you’re a history buff, a popular option is to set sail on one of the tall ships. Summer is also considered a festival season. This city hosts the National Cherry Festival every July, which is a great time to enjoy this classic fruit from the Cherry Capital of the World. Additionally, there is a fun art and film festival scene throughout the summer where you can discover the latest, cutting edge creations from various artists.

Fall

fall foliage traverse city michigan

As the leaves begin to change, you will not want to miss the beauty of Traverse City. The best way to get out and enjoy the crisp fall weather is a hike along available trails. The famous sand dunes make for an excellent view of the lake, but there are also various forest trails in the area to enjoy watching the changing leaves. Another unique way to enjoy this season is by attending Traverse City’s annual Beer Week in November, an event that highlights local breweries. During this festive week, you can sign up for a race or check out other seasonal events. 

Whatever time of year you choose to visit Traverse City, there will be no shortage of activities to enjoy in this versatile, northern Michigan paradise. 

The Best of Both Worlds: A Look at Five Urban Lakes in the U.S.

Posted on Camille Smith
Texas Urban Lakes
Photo courtesy of Wide Open Spaces.

For anyone who enjoys both the fast-paced city life as well as a peaceful lake environment, choosing to buy a house in an urban lake area may provide the perfect balance you’re seeking.

According to the Encyclopedia of Lakes and Reservoirs, an urban lake is defined as an inland body of water, which is larger than a pond surrounded by an urban environment. An urbanized area encompasses both the region’s city and surrounding areas, such as towns and suburbs.

To qualify as an urban area, a city and its neighboring parts should have a high population density (at least 50,000 people). In addition to providing an aesthetically pleasing balance of cityscapes and landscapes, urban lakes have several practical functions. They encourage biodiversity, assist in flood control, and provide a recreational spot for the city’s many residents.

Aerial view with clouds over city

Further, there are several personal advantages to living on an urban lake. There’s the apparent advantages — the opportunity to have that high-powered city job while also going boating, swimming, and fishing on the weekends.

But there’s also the lesser-known benefits of living by a “blue space.” For example, research suggests that living by water has a positive impact on physical and mental health. While scientists have yet to determine the reason behind this correlation, it certainly has implications for the benefits of urban lakes.

If you’re already sold on the possibility of living adjacent to both natural beauty and a concrete jungle, check out these five thriving urban lake areas in the U.S. 

Continue reading “The Best of Both Worlds: A Look at Five Urban Lakes in the U.S.”

Traverse City, MI: The Hot Spot for Millennial Millionaires

Posted on Hallie Mitchell

There are 70 million millennials in the United States, and of those, 618,000 are millionaires. With that number growing, many of them are looking to invest their money in property. When imagining all the places that these young wealthy people could enjoy their millions, what exotic or wealth laden areas come to mind? Traverse City, Michigan, is the answer for more millennial millionaires than any other locale by zip code. Millennials are those who were born between 1982 and 1996, and ages range from 23 to 37 in 2019. The millionaires among them have a reported net worth between $1 million and $2.49 million, and their value is only projected to grow. 

 

Location, Location, Location

Photo courtesy of Traverse City Tourism.

Roughly 44% of these millennial millionaires are located in California. Still, those who are looking for a different pace are flocking to Traverse City. The draw for this active group is a community that boasts microbreweries, wineries, and a robust food scene. They are leaving the hustle and bustle of the big cities and heading north and situating themselves on the shores of Lake Michigan. 

The city is located in the northwestern part of Michigan and accommodates many needs with a central location that makes travel to much of the United States convenient. It’s close to major cities like Chicago, Detroit, and Milwaukee and it’s only a short plane ride from the Cherry Capital Airport to New York and Washington, D.C. The geography makes Traverse City an ideal spot for those busy young people looking to find a place to settle down or vacation.

Traverse City offers homes overlooking freshwater and beaches for a better price than homes in larger metropolitan areas. According to the Lake Homes Realty Lake Real Estate Market Report, Lake Michigan is the number one lake located in the state when it comes to having the most listings and most homes available. The Traverse City Area comes in number four on the list of listings with the most expensive land of fewer than 10 acres. However, Lake Michigan also has plenty of that land that millennial millionaires can purchase and build the lake home of their dreams, and with 92% of them purchasing property as opposed to existing homes, that’s what most are opting to do.

Get Out and Explore

Good Harbor Beach – Sleeping Bear Bunes National Lakeshore
Photo courtesy of Grand Traverse Living.

Traverse City gives those calling it home plenty of opportunities to get out and experience life. You can always explore a new area of Traverse City because every new season brings a new adventure. With Sleeping Bear Dunes National Lakeshore trails, ski slopes, beaches, and the downtown area, there is something for everyone to do. Head over to a park and explore a new area on one of the many local bike trails. You can hit the slopes, shop downtown at any of the latest trendy clothing stores or head to the beach and enjoy the freshwater and the white sandy beaches. With 40 wineries, 13 craft breweries, and over 150 restaurants, there is always a new place to explore or spend time with friends. 

Grand Traverse Commons
Photo courtesy of Experience Michigan Magazine.

The Grand Traverse Commons is another hidden jewel of Traverse City. The building looks like a castle, and in winter, covered in snow, it seems perfect for a starring role in a Hallmark movie. The former mental asylum is located in a 480-acre park that is a favorite for cyclists and hikers. Though it has a somewhat disturbing past, the new Commons boasts restaurants, galleries, shops, and even apartments. There is also a 25-acre Botanical Garden at the Historic Barns Park that was built on what was once the former asylum’s farm complex. In the same area, just a little north is a place called Slabtown, which was once a neighborhood inhabited by those who worked as millworkers and stevedores. Sleder’s Family Tavern located there is Michigan’s oldest continuously operated bar.

Since more millennials have decided to call Traverse City home, the city has experienced a growth of trendy restaurants, businesses, and festivals. Many love the lifestyle of living in a smaller city. Diverse residents and a healthy stream of tourists create a vibrant local culture.

Lights, Camera, Action

Photo courtesy of Traverse City Film Festival.

Events are always taking place in Traverse City. Throughout the year, the city hosts various activities, including Beer Week, guided walking ghost tours, restaurant week, the Downtown Chili Cook-off, and a full calendar of other events. During the winter, you’ll find ski races at Shanty Creek, and it also hosts the Northern American VASA Festival of Races.

One of the more notable festivals that has become a hit is the Traverse City Film Festival. It was established in 2005 by the Academy Award-winning filmmaker Michael Moore. It is a charitable and educational nonprofit organization founded on the idea that “One Great Movie Can Change You: Just Great Movies” is helping to save the cinema. The festival helped to revive the State Theater, and the event occurs every year in late July to early August.

Traverse City also hosts an Ironman 70.3 competition, which has been an enormous success. The Ironman 70.3, also known as a Half Ironman, is a part of a series that takes place all over the world. It consists of a 1.2-mile swim in West Grand Traverse Bay, a 56-mile bike ride through the Sleeping Bear Dunes, and a 13.1-mile run that concludes in downtown Traverse City.  

 

No matter what you enjoy, there is an activity or event for you in Traverse City. 

All About the Lake Lifestyle

Photo courtesy of Grand Traverse Living.

Living on the lake in Michigan is your access to unlimited watersports. Along with every form of boating, the winds make it ideal for surfing, windsurfing, and kitesurfing on the lake. Have you never done it before? No problem, there are plenty of shops that offer both equipment and lessons. Want something with a little more power? You can either bring your own or rent a jet ski and enjoy Lake Michigan differently. For the less serious athlete, there is a kayak brewery tour. The tour takes you to local brewers in Traverse City while you also get to explore more of Lake Michigan.

Lake Michigan offers breathtaking beaches, and if you are a dog lover, you are in luck. There are many beaches where your fur baby is welcome to enjoy Lake Michigan with you. 

Salmon Fishing at Sunset
Photo courtesy of Grand Traverse Living.

Clear blue water and inland lakes make Traverse City an excellent place to do some freshwater fishing. Smallmouth Bass, King and Coho Salmon, Walleye, Lake Trout, Great Lakes Muskie, Brown Trout, and Steelhead are all found in the waters of Lake Michigan. The peak times to fish in this area are between May and October because it offers a consistent supply of fish. During the winter, when the ice begins to thicken, you can head out on the “hard water” and participate in the “Up North” tradition of Ice Fishing. 

 

Traverse City offers so many amenities and activities; it’s no wonder young and wealthy millennials are flocking to the area. 

Click HERE to learn more about Traverse City, Michigan.

Top 5 Biggest Markets of 2018

Posted on Staff

2018 was quite a year for Lake Homes Realty! In the last 12 months, our corporate headquarters relocated to a larger, multi-tenant business complex; ranked on the Inc.5000 list of fastest growing, privately owned companies in America for a second consecutive year; and opened operations in six more states.

Across the nation, the year has been good to many lake real estate markets as well, including these five markets, which ranked among the largest lake real estate markets in the country in 2018.

Lake Michigan, Michigan

From the beginning of 2018, No. 1 Lake Michigan’s overall market value (or the combined listing value of all the lake’s properties for sale) increased by nearly 35 percent, according to LakeHomes.com’s Fall Lake Market Report.

Individually, the lake’s home and land markets saw overall value increases of 45 percent and 9 percent, respectively. This rather wide margin between the two markets can be attributed to uneven increases in listings and average home price.

While land listings on Lake Michigan increased from 822 in January to 900 this fall, residential listings more than doubled, up from 673 to 1021.

This spike in homes for sale increased Lake Michigan’s total market by approximately $293 million over the year. This market also saw its average home price increase by about 10 percent to roughly $1 million.

As of fall 2018, the Lake Michigan real estate market is valued at more than $1.2 billion. Its home market currently boasts listings totaling nearly $957 million, while Lake Michigan land listings total about $267 million.

Lake Norman, North Carolina

The second-largest lake real estate market featured in the Fall Report, Lake Norman has an overall market of roughly $795 million, up 24 percent since January 2018.

Lake Norman’s home market increased by more than 28 percent this year to $654 million.

This is likely due to an increase of 181 residential net listings since January; however this increase also resulted in a drop in average home price, which is down from $876,000 to $849,000.

The lake’s land market also grew by about 9 percent to $141 million, despite a slight drop (4 percent) in listings.

In total, Lake Norman currently has 1,225 listings along its 520 miles of shoreline.

Lake Lanier, Georgia

Lake Lanier, ranked No. 3 among LakeHomes.com’s largest lake markets, reports a total inventory of 1,397 listings valued at roughly $650 million.

This market saw increases across the board in both number of listings and market value. Its average home price, however, remained virtually unchanged compared to winter 2018 data.

Most significantly, Lake Lanier’s home market rose more than 46 percent in listing value, up from $329 million in January to $482 million in the fall. Homes for sale increased as well, by nearly the same amount, 48 percent, from 591 to 872 listings.

Land listings increased from 459 to 498 this year, driving the market’s value up almost 10 percent to $139 million.

The Fall Market Report puts Lake Lanier’s average home price at $553,000.

Lake Travis, Texas

At $616 million in lake real estate, Lake Travis is the No. 1 largest lake in the Lone Star State, and the fourth-largest featured in the Lake Market Report.

Since the beginning of 2018, this market has increased by more than 22 percent in overall market value and almost 30 percent in total inventory.

Much of this influx of net inventory is homes for sale, which almost doubled this year from 242 listings to 354. Because the home market increased by only about 23 percent, Report data indicates the average home price on Lake Travis dropped 12 percent.

Currently, this average home price is $1.4 million, the third-highest in the state.

The Lake Travis land market value increased by 18 percent over the same period, with listings increasing by about 14 percent.

Land listings now total $120 million.

Lake Oconee, Georgia

Rounding out our list of the Top 5 biggest lake real estate markets of 2018 is Georgia’s Lake Oconee.

Its 1,207 total listings combine for a total market of $496 million, up 14 percent from $434 million at the beginning of the year.

The lake’s land market increased slightly to $147 million from $141 million in January. Land listings decreased by only one property compared to winter data.

Approximately 18 percent more residential properties are on the market at the end of 2018 than were for sale at the beginning of the year.

Currently these residential listings combine for a total lake home market value of $328 million.

Lake Lanier’s average home price only increased by about 2 percent.

About the Lake Market Report

Each quarter, LakeHomes.com publishes an in-depth Lake Market Report, that analyzes real estate data pulled from the approximately 100 MLSs of which they are members, to feature the Top 10 lake real estate markets across 16 states in the Central and Eastern U.S.

The 2018 Fall Lake Market Report reflects values of current listings across each lake’s home, land and commercial markets as of Sept. 1, 2018, at which time Report data was pulled.

These figures – market value, average home price, etc. – represent only those properties currently on the market.

According to Lake Market Report Methodology, lake property is defined as “any home or land/lot listing adjacent to a recognized inland body of water, has a view of any of these lakes, has designated access to a lake, or is within a community that considers itself a lake-focused community or development.”

For more information about your local market please download your free copy of the Lake Market Report here!