As we work our way through the challenges with the coronavirus, one question we are frequently asked is how the real estate market here is doing. Before this happened, we were in a sellers’ market due to a low number of properties for sale and a high demand among buyers. The result of that sellers’ market has been a strong focus on new construction with many new construction projects planned for this year.
That hasn’t changed. The need for new residential and vacation cabins is still there, and the good news is that there are developers and builders working to meet that demand. One of the areas we have been working with developers is a new resort at Douglas Lake. We are very excited to announce Lake Haven Resort as our most recent construction development project!
Work has already begun to create this gated community. Several of the cabins planned for the resort in the first phase of construction will have lake views in a high-ridge pristine park-like setting. These cabins will be built as one and two bedroom homes that can be placed on an overnight rental program with gross rental income projections of up to $40,000 depending on how much you use the cabin for yourself. As we move into the second phase, owners of cabins built in the current first phase will have the first option on owning in the second phase.
The purchase price for these cabins starts at $199,000 and we have several lenders who will finance the construction project. Contact us to find out more about this project and see if it is right for you!