As you can see the South Arm is not as wide as the North Arm. This property has a permanent dock, which Joe loved, so he wouldn't have to put it in and take out each season.The asking price to this house is $489,000. It still had not dropped this year. After looking at it better I saw mice had been in drawers. This house has been empty for going on two years. It started at $600,000 something. We decided we needed to get this house for at least $400,000, because it needed a lot of updates. This house would be an awesome house if you could put $75,000 to $100,000 in it. We thought this one could be a great investment property.We left and went home to decide what to do. By the time we got home, we decided we should put an offer in on the brown house that sat across the street from the lake. The other one may never drop their price, and if they did, they would probably drop down to $449,000. Then we could see a bidding war starting when it reached that price, and we wouldn't get it anyway. After seeing the mice signs, I also worried about what all they had chewed, like wiring in the walls. We called our realtor and told him we wanted to come back the next day to put an offer in. Ten minutes later, he called back and told us he found out an offer had come in that day. We couldn't believe it, "Again"! He said if we wanted it, we had better come in close to the asking price or the other couple would probably get it. He said we could also just wait it out, and hope the other offer was not accepted. The seller had already countered the offer, but the other couple had not accepted it yet. Joe and I had planned to put an offer of $330,000, and be willing to come up to $350,000. We told our realtor we would wait it out. Neither one of us slept good that night. By noon the next day we were both wondering if we had made the right choice. I talked to the couple two sites down from us that have been coming to this area for 30 years. When they found out where the house was located, they told me we would get our money back someday because that area has been really growing fast. I called my daughter and she told me that the market in Gulf Shores, AL where she lives, has been going up in price this year and we are in a sellers market. Joe had said maybe we should offer $260,000, but I was concerned we would come in below the other couple and that would just push them up further and we would lose a house again. After much struggling with what to do, we finally put in an offer of $270,000, with the freezer and boat lift being left with the house. We drove the 20 miles to Boyne City that afternoon and our realtor wrote up the offer. Because the other couple still had not accepted the counter, the seller had the option to rescind his offer and accept our offer. After he rescinded the other offer, the other couple signed the offer and brought it in to their realtor, only to be told it was too late, because another offer (our's) had come in. The seller accepted our offer and we got the house. We decided we made the right moves, because it was the best priced house with lakefront property in the area we wanted to be. There was one other lakefront property on Lake Charlevoix that sold before we could see it this year for $375,000. We had not seen anything lower on Lake Charleviox. |
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