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A real-estate expert’s advice on making the most of a tight market.
Whether it’s family time around a backyard fire pit, sunny days spent by picturesque lakeshores or toasts to friendship among sprawling vineyards, Northern Michigan is made for memories.
It’s not just Michiganders who appreciate what the region offers. CNN honored Northwest Michigan as one of three U.S. must-visit destinations in its “Where to go in 2024” article, highlighting its perennial natural beauty and the allure of its outstanding outdoor recreational activities.
But as much as people like to visit, they love to live here, too. In a tight market, like the one we’re seeing now, it’s more difficult for hopeful home buyers to find their desired property.
“With limited inventory, I encourage buyers to think outside the box,” says Kimberly Bork, broker/owner of Venture Properties, a boutique real estate brokerage that specializes in selling Northern Michigan residential waterfront, vacant land and commercial properties.
Venture Properties has helped numerous clients find their dream homes by listening to their wants and needs and working with them to make their dreams come true. “There’s no charge to look at properties and discuss what could be,” Bork says.
Here, Bork shares four ways you can make your Up North dream home a reality—even in our current low inventory market.
Photo by Venture Properties
1. Re-Evaluate Your Wish List
Sometimes it’s worth taking a second look at your “must-haves.” One Venture Properties client who was struggling to find a private waterfront home expanded their search. “They found a wonderful, move-in ready home that met everything else on their wish list,” Bork says. “They traded the private waterfront for west-facing panoramic views of the Manitou Islands and Good Harbor Bay. The home is located just around the corner from a gorgeous Lake Michigan beach they can enjoy and walk for miles.”
Photo by Venture Properties
2. Painting the Picture
Sometimes a property has great bones and simply needs to be brought up to date with its fixtures and finishes. Bork provided virtual staging for her sellers who listed a ’70s ranch home on 50 acres with Venture Properties last summer. Virtual staging gives buyers the vision of what the space could be. Another Venture Properties client could see the potential and purchased the home.
With Bork’s help, the couple was connected to a local builder and is using innovative renovations to create their dream home. “They re-envisioned the attached two-car garage and are converting it into a stunning new living space. There is a separate detached three-car garage so they are not sacrificing a garage,” Bork says. “The private acreage? They’re adding a plunge pool and hot tub and renovating two older storage outbuildings to be fun bonus spaces.”
Photo by Venture Properties
Photo by Venture Properties
3. Create a Sale
Sometimes the right offer can change a property’s status from not-for-sale to under-contract-with-you. If you see a property you love, it’s worth a try. With 44 years of local real estate expertise, Venture Properties’ relationships are a powerful asset in creating a sale.
“For a client we’ve worked with for the past twenty-five-plus years, we approached another client of several years to see if they’d sell their second home. We asked them to name their price,” says Bork. “It worked. We created a win-win.”
Photo by Venture Properties
4. Pocket Listings
A “pocket listing” is when a real estate agent knows an owner who’s willing to sell their property for the right price, even though it’s not currently listed.
“This is another area where our local connections and long-standing relationships make a big difference. Venture Properties loves to connect the dots and bring buyers and sellers together. Despite higher interest rates, we are still experiencing high demand for private waterfront properties,” explains Bork. “We still need waterfront sellers.”
Read Next: Hot Market Tips for Buying a Northern Michigan Waterfront Home