I don’t know about you but I absolutely love this time of the year. The birds are returning, the Maple sap is flowing, and the sun is still out in the evening.
Spring may have its headaches with road restrictions, crazy weather, and the until the frost goes out of the ground gravel driveways can become nearly impassable, but it’s all worth it for the aforementioned benefits and so many more.
One of the biggest benefits for those of us in the vacation property sector is the increase in market activity. With interest rates being low and a relatively healthy economy in the Upper Midwest things are off to a great start and we believe that it will continue to be good throughout the year. Oddly enough for those of us in the vacation property sector spring is harvest time. It’s a time of filling out PAs (realtors), loan applications (loan officers), and seeing ownership dreams come true (buyers).
Of course it’s a time of planting too. For those of us in the business we plant by marketing, prospecting, and for realtors getting listings. On the listings side we are hearing about low inventory especially in the intermediate price range throughout most of the markets. If this persists it will eventually drive up prices in the intermediate range which could also cause lot sales and new construction to rise. That would be good news for builders and developers, as many developers have been holding lots much longer than expected.
As we look forward to a great year in our industry don’t forget to enjoy the lakes and woods. Spring wildlife viewing is great. The birds are returning (we live on a small lake that seems to be a gathering ground for eagles and at times we’ll see as many as fifty of our nation’s symbol out on the ice flows), the deer have become more visible, and if you’re lucky you may see a bear that has come out of hibernation. There are also a number of organic food options out there in the woods and lakes - fish, ramps, maple syrup, and mushrooms are a few that come to mind, so get out and experience all the goodness that abounds in Vacationland.