About Lake Orion's Shores Of Long Lake

Shores of Long Lake, Lake Orion MI- More Positive Sales Data!!

2010 is over and the data is in! There were more sales in the Shores of Long Lake and the Village by the Shores, Lake Orion MI than in 2009, and prices were higher. The bank owned sales and short sales were in the same proportion in 2010 as in 2009.

2010:

12 sales total
5 lakefront sales
7 off the lake sales
4 short sales
2 bank owned sales

The prices for the off the lake sales ranged from $190,000-$280,000.
The prices for the lakefront sales ranged from $375,000-$432,000

2009:

6 sales total
3 lakefront sales
3 off the lake sales
2 short sales
1 bank owned sale

The prices for the off the lake sales ranged from $190,000-$240,000
The prices for the lakefront sales ranged from $347,000-$400,000

Prices are still down A LOT from 2005 when off the lake sales ranged from $300,000-$344,000 and the 1 lakefront that sold in 2005 sold for $630,000.

Many of the lakefront homes that sold in 2010 sold for $100K-$200K less than they had previously, so if you are a buyer the good news is you can steal a house. A house that sold for $580,000 in 2001 sold for $401,000 in 2010. But you might not want to wait too long. Prices are only inching up right now, but inventory is low and that is typically a precursor to rising prices. Also, mortgage interest rates won't stay this low forever.

For more information about the Shores of Long Lake please visit its neighborhood page on my web site.

If you are a homeowner in the Shores of Long Lake the good news is if you don't currently have equity in your home, you may sooner than you might have thought a year or two ago.

Lake Orion Sales Data

Homes for Sale in Lake Orion MI

Selling Your Lake Orion MI Home

More Information for Sellers

Shores of Long Lake and Village by the Shores, Lake Orion Michigan Real Estate Sales

Shores of Long Lake and Village by the Shores is a newer subdivision in Lake Orion Michigan with about 133 homes- 34 of which are lakefront homes on all sports Long Lake. Both the Shores of Long Lake and the Village by the Shores are covered under one set of by laws with the Shores of Long Lake located in the Township of Orion and the Village by the Shores located in the Village of Lake Orion. When driving through the sub the feeling is also that of one neighborhood.

Homes were built between 1999 and 2002 with minimum square feet of living space allowed for on the lake houses of 2450 and for off the lake houses 1600 for ranch homes, 1800 for one and one-half story homes and 2000 sq. ft. for two story homes.

In 2005 you couldn't touch an off the water house for less than $300,000. In 2010 off the water houses have topped out at $210K and lakefront homes have sold for between $384K and $432K- and none of those lakefront sales were bank owned. So far there have been 11 closed sales in the Shores of Long Lake and Village by the Shores and only 2 of them were bank owned, 4 were short sales and there are currently 2 houses pending. 2 homes leased through the MLS for $1700 and $2200.

All homes have access on all sports Long Lake, a 94 acre all sports lake. The Shores of Long Lake and the Village by the Shores is also walking distance to downtown Lake Orion and a long walk or short drive to Bald Mountain Recreation Area, easy access to Orion Oaks Park along with the Bark Park and about 10 minutes from I-75.

For more information about Shores of Long Lake and Village by the Shores or for a list of homes currently for sale, please don't hesitate to contact me.

Jackie Hawley

Cell: (248)736-6407

E-Mail: Jackie@JackieHawley.com