How do you forsee the price of lakefront properties going in the next 5 years? Starting to look in the Tomahawk area, but won't buy for 5 yrs

Asked by Hankejp, Tomahawk, WI Mon Jun 27, 2011

yet.

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Hankejp, , Tomahawk, WI
Mon Jun 27, 2011
Ideally, the place I would buy would be 175k or less with 3 bed, 1/2 ba., on a lake.
1 vote
Hankejp, I know this is an old listing so if you see it. if you havent bought and still want to up in Tomahawk, WI please let me know. As I have a home that we are offering seller financing. No bank required. Which means you can get into the home that you otherwise wouldnt be able to afford.
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Jackie Leonh…, Agent, Tomahawk, WI
Mon Jun 27, 2011
You will be luck to find something in that price range in this market or in the future. With these great rates you should consider how much money you will save if you buy with in the next two years.
0 votes
Hankejp, , Tomahawk, WI
Mon Jun 27, 2011
Thank you all for your input. Trust me, if I could swing it to own a place up there, I most certainly would. Unfortunately, I need to wait 3-5 years.

Thank you again.
0 votes
Jackie Leonh…, Agent, Tomahawk, WI
Mon Jun 27, 2011
We have already seen lake property moving better this year. There is still a lot of inventory which will keep the prices down for a while but prices WILL start to come back up after that. It also depends on what body of water you would like to be on. Some area lakes do not have much for sale so they have been holding their value compared to other lakes in the area with many listings. In 5 years i would expect the market to be up from today's prices.
0 votes
Eric D Lenz, Agent, Greendale, WI
Mon Jun 27, 2011
I'd say it's a shame that you won't buy for 5 years. The good prices are NOW. The good financing is NOW. Even if prices stay the same for the next 5 years, interest rates aren't likely to remain this low. NOW is a good time to buy, I can't really tell the future.
0 votes
Carolyn Cwik, Agent, Tomahawk, WI
Mon Jun 27, 2011
My crystal ball is a bit foggy so it is hard to predict what will have in five years, however, real estate is cyclical. Prices will go up. Despite all the gloom and doom, I think it's reasonable to expect that prices will eventually stabilize and begin climbing again. Consumers still believe a house is the best long-term investment one can make. It might take a while but eventually enough buyers will be lured back to the market to raise prices. To make a point, even after the declines we have seen, housing markets do recover and prices do resume their upward trend. Now is the time to consider buying as you are in advantageous position of having time and market conditions on your side.
0 votes
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