Waterfront property in Southwest Michigan has held it's own through the tough housing times. Alot has to do with buyers coming from larger cities to puchase these properties.
I am a Buchanan resident, and have been working with many waterfront home buyers and sellers.
I would be happy to look into comparable sales and or other available waterfront properties.
I understand your concern. Keep in mind that every market is different, so home values for a lakefront home may have increased, or, in this version, the agent may not have included recent improvements in the ad. They may only be available in the home.
I suggest contacting Mark Skene and asking. (or have your agent call)
Phone: (269) 683-7238