In Minnesota, going 'Up North' typically translates to going to the lake cabin. With more than 10,000 lakes, it's hard to find a Minnesotan who doesn't have ties of some kind to some body of water. This weekend is a good example… when I told a client we were heading 'Up North' she asked, where is your cabin? While we have never had the desire to own a lake cabin of our own, we still have wonderful memories at our 'lake connections'… most notably at a brother's cabin on Bad Medicine Lake.
For many Baby Boomers, having a lake cabin was living the Minnesota dream. But attitudes have shifted somewhat following the recession and not as many people are investing in a second home. Also, while some Baby Boomers are retiring at the lake, others are shifting their focus to retirement in warmer climates and/or moving closer to family and grandkids.
This means that sales are cooler up at the lake than in the hot metro market, as reflected is this article from the StarTribune, Lake Home Sales on upswing, with deals to be had. If you have been dreaming about owning a lake home, this could be a good time to buy… prices are lower than before the recession, supply is good so there are many choices, and interest rates are still low.
You also don't have to go 'Up North' to live on a lake… we have many lakes right here in the Twin Cities metro area… let us know if you would like to explore the options…
Sharlene Hensrud, RE/MAX Results – Twin Cities Realtor
The team at HomesMSP - Sharlene, John, Angela – Minneapolis-St. Paul Buyer's Agents