Long Lake, Lake Orion Michigan Lakefront Real Estate Sales
Long Lake is a 94 acre all sports lake in Lake Orion MI. The lake itself pretty much looks like its name- it's long and kind of skinny with the "long" direction running pretty much east to west. The east third or so of the lake lies in the Bunny Run sub area. Bunny Run is a mix of older and newer homes and if you live in Bunny Run you have privileges on Long Lake. Bunny Run Country Club has a club house on the east end of the lake and a large beach that is private to subdivision residents.
On the west end of the lake is a new subdivision called the Shores of Long Lake. Since this is a much newer subdivision there are building restrictions making the lakefront homes much larger in general. The off the lake homes in the Shores of Long Lake and the Village by the Shores have privileges on Long Lake within their own sub.
No matter which part of Long Lake you live on or have access to, you will be conveniently located near Bald Mountain state land area, expressways, shopping, and downtown Lake Orion.
In 2010 there were 8 lakefront sales on all sports Long Lake- 3 short sales and 5 regular sales with prices ranging from $132,500-$432,000. The 5 highest priced sales were all in the Shores of Long Lake with lakefront prices within that sub ranging from $375,000-$432,000. In 2009 there were only 3 lakefront sales on Long Lake- all in the Shores of Long Lake with prices ranging from $347,000-$400,000 and one of those sales was a bank owned home.
The depressing news is that many of the newer homes had previously sold for $500,000 and $600,000 price ranges. The good news is there were more sales in 2010 than in 2009 and there were only 3 short sales and 1 foreclosure in that 2 year period. The great news is if you compare the newer homes between the 2 years is the bottom end started higher in 2010 and the top ended higher.
Please don't hesitate to contact me for additional information about homes for sale on Long Lake. With prices so low, now is a good time to buy a cottage or upgrade to that lake house. Interest rates are still great. FHA will mortgage up to just under $300,000 and FHA 203K loan will allow for you t borrow for repairs at the same time.