What Happened to the $150,000 Cottage?

This has been an interesting spring selling season.  Inventory is a bit low at the start of spring mainly due to a run of sales early this year.  Serious waterfront buyers scooped-up things on the market over the winter.  Smart move on their part as we continue to see prices moving up.  So what happened to the $150,000 cottage?  Mostly, they are now pricing in the low $200,000 range, if you can find one.  I still get calls every week from people looking for that $100,000 cottage.  They are a rare breed for sure.  Not too many cottages in that price range this year.  Looking ahead, buyers need to up the price expectations a bit or they will not be finding a waterfront - but a place that has water access instead. 

How about the waterfront homes?  What are they doing this year?  This spring is showing signs of waterfront homes in the high $300,000 range.  You will be hard pressed to find a waterfront home under the $250,000 range.  If you do, it will most likely need some updating or repairs.  If you are a handy type person, this could be a win-win for you. 

Whether you are looking for a cottage or a home this season; expect prices to be up a bit from last season.  And when you find that special place, don't wait - things are going fast.