[momtwoboys]

We love vacationing in Petoskey and have been thinking about purchasing a vacation home there. We feel it is the perfect four seasons destination. We are especially interested in Bay Harbor. Is this a good investment or should we continue to rent there and not make a purchase?

[johnfinn]

Taxes are pretty high, even on a vacation home. No doubt you will find some awesome deals out there, so if your serious about spending a big chunk of the year there or will in the not so distant future I would consider buying vs. renting. I know several people who bought in Bay Harbor when the area was booming and ended up selling due to the taxes and association fees. It worked out cheaper for them to rent for the few weeks they spend up there every year. Your guess is as good as anyones on when the market will rebound up there.

[darstar]

There are much better deals to be had than at Bay Harbor. The traffic is terrible going north and south. Locals must have a way around the back-ups. I heard Bay Harbor has stopped building due to poor sales. I know a lot more is planed ( overbuilt), and , yes its very expensive, even if you plan to live there year round. I would look north or south of the area a few miles for better pricing.

[Perferator]

For anyone that has lived in big cities, the Petoskey traffic on US31S near Bay Harbor isnt bad. Never bothers me even when I'm in a big hurry. Still, RE deals are much better found elsewhere unless you want a nice basin and service for your yacht, living among the rich and famous is your thing.

[Tyryztoll]

Yeah, terrible traffic? C'mon......what's that mean? Having to sit with your turn signal on for a few seconds before the cars pass and you can turn left? People who complain about bad traffic in northern Michigan should immediately be sentenced to a week of commuting in towns like Chicago, Atlanta and L.A. They'd never complain again after that, I promise you.

Anyway, I live right across 31 from Bay Harbor up on a bluff. Very nice neighborhood. Bought a 3 bed 2 bath home on 3/4 of an acre for $135,000 last month. Taxes are not high, because I'm not in Petoskey and I'm not in BH, but I'm practically touching both. Unless you're set on actually being in BH or Petoskey you can get a great buy right now, just as I did. Stay outside the BH and Petoskey town limits and you'll be amazed at what you can find in this area.

[darstar]

Originally Posted by Northman

Yeah, terrible traffic? C'mon......what's that mean? Having to sit with your turn signal on for a few seconds before the cars pass and you can turn left? People who complain about bad traffic in northern Michigan should immediately be sentenced to a week of commuting in towns like Chicago, Atlanta and L.A. They'd never complain again after that, I promise you.

Anyway, I live right across 31 from Bay Harbor up on a bluff. Very nice neighborhood. Bought a 3 bed 2 bath home on 3/4 of an acre for $135,000 last month. Taxes are not high, because I'm not in Petoskey and I'm not in BH, but I'm practically touching both. Unless you're set on actually being in BH or Petoskey you can get a great buy right now, just as I did. Stay outside the BH and Petoskey town limits and you'll be amazed at what you can find in this area.

That was my thoughts exactly...glad it worked for you. Now , the traffic...yes it can be bad going north and or south, through downtown. I have set in a parking lot senario several times during season, trying to get to Charlevoix... There is only one road and everyone uses it. ( Its been three years since I was there, maybe its better now).

[Tyryztoll]

Originally Posted by darstar

That was my thoughts exactly...glad it worked for you. Now , the traffic...yes it can be bad going north and or south, through downtown. I have set in a parking lot senario several times during season, trying to get to Charlevoix... There is only one road and everyone uses it. ( Its been three years since I was there, maybe its better now).

I've lived here 3 years, and the only time traffic is ever backed up going through downtown is on select weekends in the summer, or on summer holidays. Coming through Bay View north of town is usually the slowest stretch during those times, but even then it's nothing I'd describe as "terrible", unless you're comparing it to driving in the U.P., where people freak out if there are more than 3 cars within view of theirs at the same time

I'm assuming that the OP is from downstate, or certainly a much more populated area than this one seeing as how they vacation here on a routine basis. Knowing this, I highly doubt the driving conditions up here will cause them even a shred of concern. Personally, I'd be more worried about the number of drunks on the roads around here than I would the actual volume of traffic. And to answer their original question outright.......yes, I would buy rather than rent if they plan to continue vacationing here. If you score a deal like the one I got.......do some minor renovations......and the market comes up even a little bit (can it botom out any further?)...you will be sitting pretty with a nice investment in addition to a great place to spend your quality time in.

[darstar]

Originally Posted by Northman

I've lived here 3 years, and the only time traffic is ever backed up going through downtown is on select weekends in the summer, or on summer holidays. Coming through Bay View north of town is usually the slowest stretch during those times, but even then it's nothing I'd describe as "terrible", unless you're comparing it to driving in the U.P., where people freak out if there are more than 3 cars within view of theirs at the same time

I'm assuming that the OP is from downstate, or certainly a much more populated area than this one seeing as how they vacation here on a routine basis. Knowing this, I highly doubt the driving conditions up here will cause them even a shred of concern. Personally, I'd be more worried about the number of drunks on the roads around here than I would the actual volume of traffic. And to answer their original question outright.......yes, I would buy rather than rent if they plan to continue vacationing here. If you score a deal like the one I got.......do some minor renovations......and the market comes up even a little bit (can it botom out any further?)...you will be sitting pretty with a nice investment in addition to a great place to spend your quality time in.

Yes, I can't compare Marquette traffic with Chicago, why would I ? However, lots of complaints about US 41 in Marquette Township, Michigan lefts, getting the finger as you are slowing down to turn, stuff like that. traffic is all about what you are used too. When I am in Chicago, I expect it, not here. Same should go for US 31. I have also seen I-75 backed up so bad southbound on a sunday afternoon all the way up to Flint, so, even in the wilds, we can have our moments.
Property values up here did not fall all that much, or , its still not here yet !

[Perferator]

Originally Posted by darstar

That was my thoughts exactly...glad it worked for you. Now , the traffic...yes it can be bad going north and or south, through downtown. I have set in a parking lot senario several times during season, trying to get to Charlevoix... There is only one road and everyone uses it. ( Its been three years since I was there, maybe its better now).

Actually, that "parking lot scenario" is really found in downtown Charlevoix. Now that's something worth complaining about even when the bridge is down. Pedestrians cause most of the problems, along with street gawkers trying to shop from the front seat of their cars in traffic.


I'm a northern boy raised up and growed up here just about all my life (I'm not done living yet) and havent seen a traffic jam that was bad in petoskey. Yes, plenty of traffic but it still flows. When that happens I assume the local advantage and take one of several shortcuts.

[darstar]

Originally Posted by Perferator

Actually, that "parking lot scenario" is really found in downtown Charlevoix. Now that's something worth complaining about even when the bridge is down. Pedestrians cause most of the problems, along with street gawkers trying to shop from the front seat of their cars in traffic.


I'm a northern boy raised up and growed up here just about all my life (I'm not done living yet) and havent seen a traffic jam that was bad in petoskey. Yes, plenty of traffic but it still flows. When that happens I assume the local advantage and take one of several shortcuts.

All I know , we were coming from the north ( from I-75) trying to get to Wojan Window factory, it was endless bumper to bumper. Several months later, same thing....was summer or fall as I recall. Then when we got to the Factory, they refused to let my wife use the rest room....I still spent 20,000 with them...anyway.