A daily journal concerning Lake Vermilion and surrounding areas
Selected real estate, notes, stories, musings, and anecdotes
------------ Comments and links welcomed. ------------
Friday, July 03, 2009
An Al Fresco Fourth.
It's the Fourth of July. Already.
The holiday weekend weather looks great so go out and enjoy the out-of-doors.
I would suggest a picnic but I don't think we do picnics anymore. Do we? Wikipedia describes a picnic as "a pleasure excursion in which a meal is eaten outdoors". It's an activity also known as "al fresco dining". (I suppose you could, theoretically, "al fresco" any activity. I believe fireworks would be regarded as an exclusive al fresco activity.)
If you do plan a picnic make sure you chose a place free from insects. Insects and picnics are traditionally regarded as synonymous. Especially the insect known as the Ant. There is recent disturbing news about the Ant. You may find it hard to believe but the Ant has taken over the world. It's true. And the Ant is not a creature to be taken lightly. They're transformer-esque bodies appear to have the capacity to convert a picnic into al fresco carnage. It's true.
So... get out and enjoy the Fourth. Maybe a boat ride would be nice.
P.S. The current edition of the Minnesota Conservation Volunteer has a nice slideshow of picnic days past.
I'm almost sure that an accepted rule of the open sea is if anything floats to any portion of your lakeside property it pretty much is yours to claim as your own. By the way, this is another little benefit of waterfront property ownership. (Please contact me for the other reasons to buy and own a lakeshore property.)
I own a prime Lake Vermilion location for reaping this undeserved waterborne booty. The photo shows just a sample of my ill-gotten gain.
If you recognize and can positively identify any item shown, please send me a note along with full payment for this ad and I am happy to return the lost keepsake to the rightful owner.
About three weeks ago I did a report on the activity level of the Lake Vermilion area real estate market.
Here's a brief update.
Through today the 2009 market continues to see activity at nearly two times the 2008 rate! In fact, on this date in 2005 (the most active year of the last five) this market had not booked as many sales as have been booked so far in this year.
The real test will be what happens from now until the end of the calendar year. In 2005, the remaining 84% of the year's total sales were completed after June 15th. That was very strong Summer and Fall selling activity!
(FYI, this data reflects road access Lake Vermilion cabin and home sales only. Feel free to request additional information.)
The level of posting activity here will need to improve or I may have to outsource ol' LVRE.com to the Punjab.
(Follow that link and you will learn that "Punjab" is a region in India. The word is derived from a combination of two Persian words that translate to "Land of Five Rivers".)
The Lake Vermilion Resort Association notes the largest fish caught so far this season are: a 29" Walleye, 44" Northern Pike, 21" Smallmouth Bass, 18.5" Largemouth Bass, 50" Muskie, and a 14.5" Crappie!
That's not too shabby outta one body of water (in the Punjab)!
There is a new Lake Vermilion State Park related story getting a fair amount of play from print and on-line sources. It suggests that Governor Pawlenty may have stretched legal boundaries when negotiating the land purchase for the Park.
Accepted blogging etiquette says that one should not blog about the reasons one has not blogged.
OK.
As a substitute I offer this bit of housekeeping information about the current listing links on the right side of the page.
The group of current "Commercial" offerings has nearly doubled. The sole reason for this not due to a glut of new listings but it is simply that the search criteria has been relaxed to bring more properties onto the list.
So... if you're looking to buy a business opportunity, please check the newly expanded group!
A popular story concerning the current "Up North" lakeshore real estate market was published in the Minneapolis Star Tribune this past weekend.
I would think there would be others from this neighborhood who would question the lack of detail offered about the actual geographic area depicted in the headline, "For sale: The good life Up North". We would consider the Lake Vermilion area as an "Up North" market. But the markets detailed in the story would be viewed as "Down South" from the local perspective.
The facts and figures contained in the story are, undoubtedly, true and accurate, but they do not necessarily reflect this market. 20% to 30% value reductions and inventory levels that have increased 10 fold may not be valid numbers for our version of the "Up North" recreational real estate market.
It is said that all real estate is local. Let's just make sure that the Lake Vermilion area version of "Up North" is recognized as it's own unique market.
It is really too early to come to any conclusions.
But in an attempt to answer the nearly daily question of... "Is anyone buying?", here are some very preliminary indicators from the current local lakeshore market.
1) First of all, 2008 was the worst sales year of the previous 5 years.
2) To date this year, closed and pending sales have doubled from 2008.
3) In the last 5 years, anywhere from 10% to 30% of the total year sales were posted before the Memorial Day holiday.
4) Using the facts in #2 and #3 above, it would be reasonable to project that 2009 will, at least, be a better sales year than 2008, or, at most, be the best sales year since 2004.
It's the middle of May. And our collective attention should be on the lake.
But... in our clime the woods, bogs, and fields are just now showing visual signs of renewed life.
After the persistent and mostly colorless Winter, Mother Nature rewards us with regenerating plants that emerge with the brightest colors we will see all year.
This weekend, after the snow flurries ended and the sun broke through, I walked the wooded edge of a Spruce bog and the green tint in the woods was... well, everywhere.
It's easy to just walk and not look. But the once a year events of Spring deserve a higher level of observation.
This image is of the young regenerating shoot of the American Larch. You probably know this tree by it's more popular name of Tamarack. (It's the tree that doesn't know if it's coniferous or deciduous.)
It offered the good example of how easy it is to walk through the newly re-greened woods without noticing the unique details that only these Spring days offer.
So... remember to visit the woods on your way to the lake. And enjoy the green!
The local real estate market activity level is on the upswing.
Keeping the new, reduced price, and current listings up to date is proving to be a bigger daily challenge. That's not a complaint. There are some very nice offerings around the lake. Please let me know if you need help sorting through the list.
Also, a personal note to J. Welsh... The email address you sent was not correct. Please resend your address so I can provide the information you requested. Click this link.
Each season brings new reasons to watch the weather.
The Minnesota State Climatology Office produces a monthly newsletter that summarizes what has happened, what is happening, and what might happen with the weather. The summary also tells us how the weather impacts the state's water resources. The site offers numerous links to additional resources and maps. If you're a weather watcher, you'll find it to be interesting stuff.
The local newspaper, The Timberjay, is stuffed full of news related to Lake Vermilion area improvement/development projects.
Here are a few links that may be of interest:
First, Marshall Helmberger considers the likelihood of the US Steel Three Bays shoreline development. He uses practical logic and current real estate market conditions to arrive at a reasonable conclusion about the project's financial viability. US Steel shareholders might consider his rationale.
The newspaper also reports that the St. Louis County Board, after an eight year process, has approved the Lake Vermilion Plan. It takes effect on July 1st. (Read the Plan here.)
The Lake Vermilion area towns of Cook, Orr, and Tower will need to consider options for consolidating their existing school facilities. Thoughtful discussion and compromise will bring better educational opportunities for our rural students.
It's unconfirmed but if the ice is not 100% off the lake it's very close to it. Also, the navigation and hazard buoys are being placed and should be completely installed, weather permitting, by the end of the week.
The average asking price for a Lake Vermilion road access home/cabin remains at just over $600,000. (That excludes leased properties and common interest community property.)
The overall price range is from $200,000 to nearly $1.8 million.
FYI, with the current record low interest rates, the monthly mortgage payment on that $600,000 lake home is now about $461 less than it was last October.
The Minnesota Department of Natural Resources does it's best David Letterman impression with today's "Top Ten" news release.
At number one on the list is "anglers fishing without a valid fishing license in possession". Number two is "anglers fishing with no fishing license at all".
That's right, today's Top Ten category is... "The Top Ten Fishing Violations".
Read the number 3 through number 10 violations here.
It is said that change brings opportunity. For some folks, change can also bring fear. So what do you get when fear and opportunity come together with a licensed real estate person?
Most Recent
Buyers!
Subscribe!
Flot And Jet Sam.
The American Larch.
Local Shovel Ready News Bonanza.
Equal Housing Opportunity