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Discussion Starter · #1 · (Edited)
Way OT : Looking for lake place updated price

Anyone have any leads on lake places. We are trying to find something 1-1.5 hrs away. Price say 50k -150k (??). I am just a mechanic so not the best career choice for the glass palace on the lake. :doh: lake would have to be of a good size or connected to other lakes. I love to water ski so that is a must. Fast jet-skis need to be allowed. I would travel to WI if needed :funny:

Thanks for the time,
The poor folk looking for water
 

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RIP Steve Irwin
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I assume you just mean a lot? Lots of stuff in the mankato area, but 50k may be tough. If you want me to look LMK otherwise if it is to far LMK as well.
 

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must dig your self a pond for 50k lol jk
 

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Discussion Starter · #4 ·
darasy said:
must dig your self a pond for 50k lol jk
have a pond, tough to ski on though. :agree:
 

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Last few lots for sale around leech lake are going for $300,000 and up. Yes that's just the lot.
 

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Land Shark
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My parents have a place for sale in Birchwood, WI. Only problem is that you'd have to add another 0 to your price.

I want to/will own a lake place some day. :) I still want to have a place in or around Ely. Only problem is that it's not getting any cheaper, and I can't quite afford it yet. Yet... :nuts:
 

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Got Crabs?
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tico mike said:
Last few lots for sale around leech lake are going for $300,000 and up. Yes that's just the lot.

That actually isn't that bad compared to what the people pay for stuff around where I grew up. Now a days they buy a old rundown cabin on 100 feet of lakeshore for about $600-$700k than hit it in the head and put up a 2 million dollar lake place:rolleyes:. Oh well when I win the lottery tonight..... If I only knew what the propery values would have done up there. In 15 years time lots went from $100,000 up to $700,000.:nuts: I think it is nuts what some people pay and or have for a second home but I guess if you got it why not?
 

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redwinger said:
If I only knew what the propery values would have done up there. In 15 years time lots went from $100,000 up to $700,000.:nuts: I think it is nuts what some people pay and or have for a second home but I guess if you got it why not?
Yes, there's nothing like buying at a good time. They are some bargains to be had, but not around here...Real estate is always a solid investment IMO.
 

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My father in law just sold his lot on Sturgeon Island on Sturgeon lake .8 acre, 200' of shore line for $420,000. I think you may have to go farther than 2-3 hours away to find the price range your looking for. I know if you go up to the NW part of MN or even up by Red Lake Northern Leech lake area you may find something. But to find lake property in the distance your looking for may be tough.
 

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Discussion Starter · #12 ·
:cry:
 

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one of the things that my family did a few years ago was to get a few family members to go in on a place that way the finacial burdon was not set on one or two incomes but 4 or 6. But make sure that it is done right so one family is not set on paying all the "incidental" costs. Taxes, etc.... That is what my dad and my aunts family did. they split it and it seam to work out.
 

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tico mike said:
Yes, there's nothing like buying at a good time. They are some bargains to be had, but not around here...Real estate is always a solid investment IMO.

lake shore is one of the best real estate investments there is. There is a finite amount of it and for the most part there never will be more. However the demand for lake shore just keeps growing : )

even the biggest piece of crap on lake minnetonka still does a minimum of 10% a year.
 

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A goof
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My wife (Brooke) sells real estate in the twin cities and specializes in lake front especially Medicine Lake, where lots start around $500 for a 50 lake shore lot, Some lots with homes are $6000 to $7000 a foot of lakeshore. She does knwo of a few homes that have deeded lake access for $300-$400 K if that interest you.

Jon
 

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Just wait for a bit. Housing prices are dropping like a rock in MN. I just found a house for my father who's moving back into the state, and we ended up getting it for almost $100,000 below what they initially asked 6 months before. The inspector and agent were talking during the inspection and said their respective volume was down over 30% for the year. The average sale time has gone from 60 days to over 120 on average and prices are actually dropping right now. I know mortgage companies are going out of business left and right. On a more local level There's a brand new $800,000 home behind me that's been for sale for 2 years now and they've dropped to about 700 I think and it's still not selling. The gravy train of real estate appears to be dead. Forclosures I believe are also up record amounts over the last quarter. I can't say with any authority how it will impact recreational property as a specific segment but with interest rates still going up for a while to come with oil prices staying so high I can't imagine prices are going to climb too much, certainly not remotely like they have been.

The people who are really about to take a huge dive are the ones that bought homes recently on speculation of holding it simply to sell it again as the value shot up at the inflated rates of the last 5 years. A lot of them not only won't make anything but will actually end up owing money on the investment instead of a low return.
 

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you will be lucky to get a lot on the high end of your price. the last lot to sell near me went for 125K. however when i was last looking for land i found 600 acres near baudette, mn for 180k. i am sure there was a mud puddle in that swamp land somewhere where you could ski :D
 

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look at a county web site, dig around for the property tax delinquincy list look for some one who lives out of state and is way behind, send them a letter asking if they wish to sell. Dont tell them you know anything just play dumb and make it look like you are sending the letter to multiple people.. It works I've seen it done.
 
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